I am an NRI. Can I get a loan in India to purchase my father’s property?

Hi, I am an NRI holding dual Citizenship of Australia and India. My father is 68 years old and I am looking to purchase his flat in India.

The property is in excess of 70 lacks. Can I avail a home loan as an NRI and purchase his property? If so, which bank provides such kind of loan?

Thanks in advance for your help and assistance on this matter.

One Reply to “I am an NRI. Can I get a loan in India to purchase my father’s property?”

  1. Generally housing loans are not given for purchase of house from father by a son on the ground that the flow of money is within the family.

    but since you are an NRI and your address as per your passport & your father’s present address is different they may not be able to match you and your father is one family. in that case you can try.

    otherwise you can get mortgage loan on that property which is at slightly high rate of interest. ( about 1.5% more than housing loan) For mortgage loan the question of flow of money within the family is not raised.

    You can approach HDFC and LIC HFL.

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