Reserve Bank of India has granted general permission to certain financial institutions providing housing finance e.g. HDFC,
LIC Housing Finance Ltd., etc. and authorized dealers to grant housing loans to NRIs for acquiring a house/flat for personal
use but subject to certain conditions. The purpose of the loan, margin money and the quantum of loan will be at par with
those applicable to housing loans to residents. Repayment of loan should be made within a period of 15 years out of inward
remittances or out of funds held in the investors' NRE/FCNR/NRO accounts.