Quick answer: Yes – NRIs and OCI cardholders can buy a home at Godrej Bandra Bay (Godrej Bandra Reclamation) in Bandra West, Mumbai, without special RBI permission, as long as they pay through Indian banking channels (an NRE, NRO or FCNR account, or money sent from abroad). The project offers 4 BHK homes only, approx. 2,900–3,500 sq ft*, starting from ₹29 Cr*. Before paying, check the project’s MahaRERA registration, plan how you will sign documents from abroad, and speak to a chartered accountant about tax and repatriation.
Last updated: 15 October 2026. Details marked * are indicative and can change. This is general information, not legal or tax advice – rules can change, so confirm your case with a chartered accountant or lawyer.
Bandra West has long been popular with Indians living abroad – many grew up here, have family nearby or want a Mumbai base they can return to. Buying from overseas adds extra steps: the right bank account, documents signed from another country, and planning for tax. This guide walks through each step in plain language.
Godrej Bandra Bay for NRI Buyers at a Glance
| Question | Answer |
|---|---|
| Can NRIs buy here? | Yes – residential property, no special RBI approval needed |
| Can OCI cardholders buy? | Yes, generally on the same basis as NRIs |
| Homes | 4 BHK only, approx. 2,900–3,500 sq ft* |
| Starting price | ₹29 Cr* |
| MahaRERA | Registration awaited – check before paying |
| Possession | Not yet confirmed |
| How to pay | Banking channels only: NRE / NRO / FCNR account or inward remittance – no cash |
| Visit needed? | Not for every step – power of attorney can be used |
Why Bandra West Appeals to NRI Buyers
- A familiar, established neighbourhood – schools, hospitals, places of worship, dining and family networks are already in place.
- Easy to reach from the airport – Bandra sits between the airport and South Mumbai.
- Scarce new supply – large new homes are rare in Bandra West, which is why launches such as Godrej Bandra Bay draw attention.
- A known developer – see our note on Godrej Properties and how to verify it.
New to the locality? Our Bandra Reclamation area guide explains where it is and what is around it.
Who Can Buy: NRI, OCI and Foreign Citizens
NRIs (Indian citizens living abroad) and OCI cardholders can buy residential and commercial property in India. They cannot buy agricultural land, plantations or farmhouses – which does not affect a city apartment like Godrej Bandra Bay. Foreign citizens who are not of Indian origin face much stricter rules and usually cannot buy, so they should take legal advice first.
How NRIs Pay: NRE, NRO and FCNR Accounts
Every payment – booking amount, instalments and charges – must go through Indian banking channels. The account you pay from matters later, when you sell and want to move money back abroad.
| Account | Money it holds | Moving money back abroad |
|---|---|---|
| NRE (Non-Resident External) | Earnings from abroad, held in rupees | Generally freely repatriable |
| NRO (Non-Resident Ordinary) | Income earned in India (rent, dividends, pension) | Allowed with limits and tax paperwork |
| FCNR (Foreign Currency Non-Resident) | Deposits kept in foreign currency | Generally freely repatriable |
| Inward remittance | Money sent directly from abroad | Keep the bank’s remittance certificate |
Tip: keep a file of every payment receipt and bank certificate from day one. You will need them for tax, for a home loan and when you sell.
Documents NRI Buyers Usually Need
- Passport (and OCI card, if you have one)
- PAN card – needed for property purchases and tax in India
- Overseas address proof and recent photographs
- NRE / NRO / FCNR bank account details
- Power of attorney, if someone in India will sign for you
- Home loan sanction letter, if you are taking a loan
For the project-side documents to ask for (MahaRERA certificate, agreement draft, approved plans, cost sheet), use our checklist before booking.
For the full list by stage – booking, loan, agreement and registration day – see our documents checklist for buying a flat in Mumbai.
Buying from Abroad: Step by Step
- Check the project. Confirm the MahaRERA registration on the MahaRERA website once it is available. Follow the latest Godrej Bandra Bay update for launch and RERA news.
- Choose the exact home. Ask for the floor plan, carpet area, floor and direction of the unit – not just the configuration.
- See it remotely. Ask for a video walkthrough of the site, sample flat (when ready) and the neighbourhood, or ask family to visit for you.
- Get the full cost. Starting price plus stamp duty, registration, GST, parking and other charges – see what the ₹29 Cr* price includes.
- Arrange the money. Decide which account you will pay from and, if needed, apply for an NRI home loan early.
- Set up a power of attorney. If you cannot travel, give a specific power of attorney to a trusted person in India. A document signed abroad usually needs attestation by the Indian embassy or consulate (or an apostille) and must then be stamped in India.
- Pay the booking amount only after you have the MahaRERA details and a written cost sheet.
- Sign and register the agreement for sale – in person on a visit, or through your power-of-attorney holder.
Home Loans for NRIs
Many Indian banks offer home loans to NRIs. The loan amount, documents (overseas salary slips, employment contract, credit history) and repayment rules vary by bank and country, and repayments usually come from your NRE or NRO account. Ask two or three banks for a pre-approval before booking, so you know your real budget for a home at this price.
For the loan limit, staged payouts and costs banks do not finance, read our guide to home loans for luxury flats in Mumbai.
Tax and Repatriation: What to Plan For
- When you buy: stamp duty, registration and GST apply as for any buyer in Mumbai.
- If you rent it out: rental income in India is taxable in India, and tenants may need to deduct tax at source.
- When you sell: capital gains tax applies, and the buyer usually deducts tax at source from your sale price. A lower-deduction certificate may help.
- Moving money back: depends on how you paid and on tax clearance; banks usually ask for a chartered accountant’s certificate.
- Your country of residence may tax the same income too – check the tax treaty with a chartered accountant.
Thinking of it mainly as an investment? Read the case for and against investing at Godrej Bandra Reclamation.
The purchase taxes are explained with an example in stamp duty and GST on a luxury flat in Mumbai.
Selling a property in India to buy here? Our Section 54 capital gains guide explains the basics to discuss with your CA.
If you will rent the home out while you live abroad, see our guide to leave and licence agreements in Mumbai.
Selling an old flat in India, or buying a resale flat from another NRI? TDS rules are very different from the 1% rule – read our guide to TDS on property purchase, including NRI sellers.
Common Mistakes NRIs Make
- Paying a booking amount before the project’s MahaRERA registration is available.
- Paying from the wrong account, or in cash, and later struggling to move money back.
- Giving a broad, open-ended power of attorney instead of one limited to this purchase.
- Relying on listing websites for price, size or possession – many figures online conflict. See what is confirmed about Godrej Bandra Bay.
- Not keeping payment records and bank certificates.
Is Godrej Bandra Bay Right for You as an NRI?
It can suit NRIs who want a large, new home in established Bandra West – for family use now, a future return to Mumbai, or a long-term holding. It suits you less if you need a home ready soon, since the project is at pre-launch and possession is not yet confirmed. Buyers comparing options in the same area also look at Adani Bandra Reclamation, and for another summary of this project see the Godrej Bandra Reclamation property page.
NRI Buyers: Key Takeaways
- NRIs and OCI cardholders can buy a home at Godrej Bandra Bay without special RBI permission.
- Pay only through banking channels (NRE, NRO, FCNR or remittance) – never cash.
- Check MahaRERA registration first; it is still awaited for this project.
- Plan tax and repatriation with a chartered accountant before you pay.
- Godrej Bandra Bay: 4 BHK only, approx. 2,900–3,500 sq ft*, from ₹29 Cr*.
For every project detail in one place, read the complete Godrej Bandra Reclamation guide.
Living abroad and want a video call or the latest price sheet? Send an enquiry.
Frequently Asked Questions
Can NRIs buy a home at Godrej Bandra Bay?
Yes. Under India’s foreign exchange rules, NRIs can buy residential property in India without special RBI permission. Godrej Bandra Bay offers 4 BHK homes of approx. 2,900–3,500 sq ft* from ₹29 Cr*. Confirm the project’s MahaRERA registration before paying anything.
Can OCI cardholders buy property in Mumbai?
Yes. OCI cardholders can generally buy residential property in India on the same basis as NRIs. Check your own case with a chartered accountant or lawyer.
How can an NRI pay for a flat in India?
Through normal banking channels: money sent from abroad or paid from an NRE, NRO or FCNR account in India. Cash and foreign currency notes are not accepted for property payments.
Do I need to come to India to buy?
Not for every step. Many NRIs view the home on a video call and sign through a power of attorney given to someone they trust in India. Some steps, such as registration, need the buyer or the power-of-attorney holder to be present.
Can NRIs get a home loan for a Mumbai property?
Yes, many Indian banks offer home loans to NRIs. Loan amount, documents and repayment rules depend on the bank and your income, so ask two or three banks early.
Can I send the money back abroad if I sell later?
Often yes, but how much you can move depends on which account you paid from and on tax clearance. Keep every payment record and speak to your bank and a chartered accountant before you buy.
*Prices, sizes and other details are indicative and subject to change. This article is general information, not legal, tax or financial advice. Please verify all details with the developer, on the MahaRERA website and with a qualified chartered accountant or lawyer before making any decision.
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