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1) Can a NRI Buy property without coming to India or a person can buy a property without physical presence?
Yes both are possible.
2) What are the Types of property a NRI/PIO/OCI can buy in India?
NRI/OCI/PIO can buy any residential or commercial property in India; however they cannot buy agriculture land in India.
3) Are there any restrictions on numbers of properties that can be bought and sold by NRI/PIO/OCI?
There are no restrictions in terms of numbers of properties that can be bought by NRI/PIO/OCI; however they can sell only two properties in a financial year.
4) Can NRI/PIO/OCI acquire or dispose residential property by way of gift?
Yes, NRI/ PIO/OCI can freely acquire immovable property in India by way of gift either from Resident Indian or NRI/ PIO/OCI and NRI/ PIO/OCI may gift residential/commercial property to Resident Indian, NRI/ PIO and OCI - with approval of RBI.