Why NRIs Choose Lodha Panache for Hinjewadi
Hinjewadi is India’s largest IT employment cluster outside Bengaluru — the tenant pool for an NRI investor is literally their professional peer group. The calculus for an NRI in the US or Singapore working in tech:
- Hinjewadi tenants = same company, same designation, same income level as the NRI buyer
- Lodha Panache’s Lodha brand = recognised nationally; easier resale to another NRI in 2029–2031
- Entry at ₹1.10–1.20 Cr = significantly cheaper than Mumbai equivalent (₹3–4 Cr for comparable amenity)
- March 2027 possession = shorter wait than under-construction Mumbai projects
FEMA Eligibility
| Buyer Type | Eligible? |
|---|---|
| NRI (Indian passport, residing abroad) | Yes |
| OCI (Overseas Citizen of India card holder) | Yes |
| PIO (Person of Indian Origin with PIO card) | Yes |
| Foreign national (non-Indian origin) | No |
No RBI approval required for residential property purchase by NRIs. Lodha Panache qualifies fully.
Payment: NRE vs NRO
NRE Account (preferred):
- Funds sourced from foreign earnings
- Principal and interest freely repatriable
- Interest earned is tax-free in India
- Use this account for all milestone payments to Lodha
NRO Account:
- Local India income, rent, or transfers
- Repatriation limited to USD 1 million/year with Form 15CA/15CB
- Useful for paying stamp duty and registration from local funds
Foreign Inward Remittance:
- Direct wire from your overseas bank to Lodha’s escrow
- Requires FIRC (Foreign Inward Remittance Certificate) from your Indian bank
- Keep FIRC copies — needed at time of resale to prove foreign origin of funds
POA Process: Buying Without Travelling to India
Most NRIs complete the Panache purchase via a Power of Attorney without visiting India.
Step-by-Step
1. Draft the POA Use Lodha’s standard NRI POA template covering: booking form signing, agreement execution, payment authorisation, and property registration. Your POA holder can be a parent, sibling, spouse, or a Pune-based lawyer.
2. Execute and apostille in your country
- Sign before a Notary Public
- If your country is a Hague Convention member (US, UK, Canada, Australia, UAE, Singapore): obtain an Apostille from the designated authority
- If not a Hague member: get the POA attested at the Indian Embassy/Consulate
3. Courier original to India FedEx/DHL with tracking. Allow 5–7 working days.
4. Adjudicate in Pune POA holder takes the original to the local Sub-Registrar for adjudication (stamping). Cost: ₹500 stamp + ₹200–500 adjudication fee.
5. Lodha NRI desk processes your booking With adjudicated POA, your POA holder can sign the booking form and Agreement for Sale.
6. Registration POA holder attends registration at Sub-Registrar on your behalf. Original POA + all payment receipts + ID documents required.
Total timeline: 8–12 weeks from start to registered agreement.
Home Loan for NRI Buyers
Banks that lend to NRIs for Lodha Panache: SBI NRI Home Loan, HDFC International Home Loan, ICICI NRI Home Loan, Axis Bank NRI Home Loan.
Documentation required:
- Passport + visa + work permit / residency proof
- Last 6 months foreign bank statements
- Last 3 salary slips (in foreign currency)
- Employment letter from current employer
- 2 years Indian ITR (if applicable — optional for NRIs with no India income)
- NRE/NRO account statements
Rate: 8.75–9.5% for NRI loans (slightly higher than resident rates). LTV: 70–80%.
Tax Planning for NRI Buyers
During Ownership
- TDS on rent: Tenant deducts 30% TDS on gross rent paid to NRI landlord. Apply for a lower TDS certificate (Section 197) to reduce this to the actual tax rate on net income.
- Tax return filing in India: File ITR-2 annually. Claim deductions: standard 30% deduction on rental income + home loan interest (Section 24b, up to ₹2L).
At Resale
- LTCG (2+ year hold from possession): 20% with indexation or 12.5% without — choose whichever is lower.
- TDS by buyer: Buyer deducts 20% TDS on full sale price when purchasing from an NRI. Apply for a lower TDS certificate in advance.
- Section 54 exemption: Reinvest capital gains in another Indian residential property within 2 years to get full LTCG exemption.
Rental Management Setup for NRI Owners
You won’t be in Pune to manage tenants. Setting this up correctly before possession is critical.
Option 1: Pune Realty Hub managed rental Full service — tenant screening, agreement execution, monthly collection, maintenance coordination, annual inspection report. Contact us for rates.
Option 2: Property management company Local Pune property managers charge 8–12% of monthly rent. Verify with references before appointing.
Must-have in your Leave & Licence agreement:
- NRI TDS clause (tenant acknowledges NRI landlord; deducts TDS)
- Maintenance liability clause (tenant or owner — specify clearly)
- Security deposit: 2–3 months’ rent
- Notice period: 2 months from either side
- Annual rent escalation: 5–8%
Total Investment Breakdown for NRI
2 BHK at ₹1.15 Cr via NRE account:
| Component | Amount | Notes |
|---|---|---|
| Agreement value | ₹1,15,00,000 | ~USD 13,800 at 83.5 |
| Stamp duty (6%) | ₹6,90,000 | |
| Registration | ₹30,000 | |
| GST (5% UC) | ₹5,75,000 | |
| POA legal costs | ₹30,000–50,000 | Apostille + adjudication |
| Interior (basic furnished) | ₹5,00,000 | For rental readiness |
| Total all-in | ~₹1,33,45,000 | ~USD 16,000 |
| Annual rental income (post Mar 2027) | ₹3,96,000 (₹33K/month) | 11 months occupancy |
| Less: property management (10%) | -₹39,600 | |
| Less: TDS (30%, recoverable) | -₹1,18,800 | File ITR to recover |
| Net remittable income | ~₹2,37,600/year | After ITR refund |
Frequently Asked Questions
Q: Can NRIs buy Lodha Panache without coming to India? Yes — through an apostilled POA, the entire transaction can be completed remotely. Lodha’s NRI desk facilitates video KYC and remote documentation.
Q: Is rental income from Panache repatriable? Yes — through NRO account, up to USD 1 million/year. Requires Form 15CA/15CB for each remittance.
Q: What banks offer NRI home loans for Lodha Panache? SBI, HDFC, ICICI, and Axis all have NRI home loan products for Lodha projects. Rates: 8.75–9.5%. LTV: 70–80%.
Related Reading
- Lodha Panache Hinjewadi — Buyers Guide 2026
- Lodha Magnus NRI Investment Guide 2026
- Lodha Altero NRI Investment Case 2026
- Lodha Belmondo NRI Expressway Investment 2026
- Lodha Pune NRI Buying Guide 2026
- Stamp Duty & Registration for Lodha Properties 2026
- Tax Benefits on Home Loan for Lodha Hinjewadi 2026
- Capital Gains Tax on Lodha Property Sale 2026
