Yes, an NRI can buy property in India without being physically present in the country. There are several ways in which you can achieve this heavy duty task and that too with the help of the Indian Government. RBI (Reserve bank of India) has explicitly mentioned instructions so that anyone who is living abroad can buy property without any difficulties.

Note: It should also be clear that NRI buying immovable property, should only be used for residential purposes or to complete any other requirement except agricultural land, farm house and/or plantation property. But even if an NRI want to buy any of the properties that comes under exception then, they have to obtain special permission from RBI which is not always guaranteed.

1. Under the RBI’s general authorization, an NRI can purchase a property, either individually or mutually with another NRI. The most competent way of NRI buying property in India is adopting a Power of Attorney (POA)

Your query can be discussed in a three-fold system.

1. You can hire a Power of attorney who will look into the legal matter for you and will personally help you in buying property in India. This way all the legal proceedings and best deals in the real estate will become efficient, effective and most imperatively cost friendly. The attorney can even work with you parents to mediate about the decision of suitable property as he will be representing you in India and your physical presence will not be required to fulfill all the formalities. Hence, the transfer of money into your parent’s account can be dealt with a hassle free choice.
2. If it is essential for you to transfer money in India, then it can be done through the concept of Inward Remittance. it basically suggests a way to transfer a heavy amount of money to family or relatives. It is completely safe as it is governed by FEMA (Foreign Exchange Management Act). Although there is a Foreign Inward Remittance Certificate (FIRC) that is needed from the authorities to complete transaction. Also, while transacting there will be a fee charged according to the amount of the transfer. Remittances can be sent via a wire transfer, electronic payment system, mail, draft, or check.

The solution to speeding up the real estate matter without legal proceedings can be through many ways.

1 You can appoint a Power of Attorney (PoA) who will legally and personally manage your concerns directly in India. Not only will the attorney be cost efficient but he will also communicate with you in a way which can help you reach best deals. Through the way of assigning a trustworthy PoA, you can automatically speed up the process because he will be familiar with the country’s legal system and can finalize the deals within a reasonable time period.

2. To avoid court proceedings at all, then the transfer of money in order to make arrangement of the property can also be looked at. All the transactions should be done in Indian money exchange through Indian banks. All the transactions should be carried among the course of Indian banking channels only. NRIs can use NRO/NRE account for all inward remittances. Post-dated cheques or ECS from your NRE, NRO or FCNR (Foreign Currency Non-Resident) account can also be released.