You are eligible to get a home loan if you are:

- An Indian resident or NRI
- Above 21 years of age at the time of the commencement of the loan
- Below 65 when the loan matures
- Either salaried or self employed

An Indian Citizen is deemed as a non-resident if he stays abroad - for employment/carrying on business or vocation outside India or - under circumstances indicating an intention for an uncertain duration of stay abroad.

Persons employed by the U.N. organisations and officials deputed outside India by Central/State Governments or Public Sector undertakings on provisional assignments are also considered as non-residents. While being considered for certain facilities, non-resident foreign citizens of Indian origin are treated at par with non-resident Indian citizens (NRIs).

For the opening and maintenance of bank accounts and investing in shares/securities in India:

A foreign citizen (other than a citizen of Pakistan or Bangladesh) is considered to be of Indian origin, if, he, at any time, held an Indian passport, or - he/ either of his parents/ any of his grandparents were citizens of India by virtue of the Constitution of India or Citizenship Act, 1955 (57 of 1955).

Note: A spouse (other than a citizen of Pakistan or Bangladesh) of an Indian citizen/ a person of Indian origin is also treated as a person of Indian origin for the above stated purposes, provided the bank accounts are opened/ investments in shares or securities in India are made by such individuals only jointly with their NRI spouses.

For investments in immovable properties: A foreign citizen (other than a citizen of Pakistan, Bangladesh, Afghanistan, Bhutan, Sri Lanka, or Nepal), is considered to be of Indian origin if, he held an Indian passport at any time, or he/ his father/ paternal grandfather was a citizen of India by virtue of the (Constitution of India or the Citizenship Act, 1955 (57 of 1955).

Is it necessary that I consult an advocate?
It is always advisable that you consult a competent advocate before going ahead with the purchase of a property. It always helps to consult someone who is up to date with property laws in India, even if you are thorough with your information.