Can a foreign national of non-Indian origin resident outside India purchase immovable property in India?

Property Handling
2016-08-02 12:37

No. A foreign national of non-Indian origin, resident outside India cannot purchase any immovable property in India unless such property is acquired by way of inheritance from a person who was resident in India. However, he / she can acquire or transfer immovable property in India, on lease, not exceeding five years. In such cases, there is no requirement of taking any permission of /or reporting to the Reserve Bank.

Tags: NRI's
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