Eco City NRI Investment

Eco City NRI Investment

For many NRIs with roots in Punjab, a plot near Chandigarh is both an investment and a link to home. Eco City Township is a popular choice because it combines a GMADA title chain with space to build a family house near the hills.

Can NRIs buy Eco City plots?

Under FEMA rules, NRIs and OCI card holders can generally buy residential and commercial property in India, but not agricultural land, plantation property or farmhouses. An Eco City residential plot or SCO is urban property. Confirm current regulations with your bank or adviser before buying.

Paying for the plot

• Payments through normal banking channels, typically from NRE, NRO or FCNR accounts or inward remittance
• No payments in foreign currency cash or traveller's cheques
• Keep every receipt for future repatriation and tax purposes

Buying from abroad

• A registered power of attorney lets a trusted person handle the transfer and registration
• Draft the POA carefully, limiting it to the specific transaction
• Have documents verified by an independent lawyer in India

See the buying checklist.

Taxes and repatriation

• When buying from a resident seller above the applicable threshold, TDS rules apply; buying from an NRI seller has different TDS rules
• On sale, capital-gains tax applies in India
• Sale proceeds of residential property can generally be repatriated within limits, subject to FEMA rules and documentation

Take advice from a chartered accountant familiar with NRI property.

Visiting before buying

If possible, visit New Chandigarh before committing, or ask a trusted relative to visit with documents in hand. Seeing the pocket, road access and neighbourhood helps avoid surprises. Video walk-throughs are useful but not a substitute for an in-person check.

Managing the plot

Keep GMADA dues paid, appoint a local contact for site checks, and visit when you can. If you plan to build, choose an architect and contractor with good local references. Read second homes.

Information on this page is indicative and based on publicly available sources and project material at the time of writing. Prices, timelines and specifications are subject to change. Please verify the plot, phase and dues against GMADA records, check Punjab RERA where applicable, and have documents reviewed by an independent lawyer before paying.

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