What is an NRO account and as an NRI, do I need one to purchase property in India?

What is an NRO account and as an NRI, do I need one to purchase property in India?

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SmartOwner
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SmartOwner

An NRO account is a Rupee bank account with an Indian bank where the account-holder is an NRI. While an NRO account is not required to purchase property in India, it makes it convenient to repatriate the sale proceeds when an NRI resells the property at a later date. If you are an NRI and use SmartOwner’s property marketing and resale services, our team will co-ordinate with the bank to get an NRO account opened for you.

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