Acquiring of residential property by a NRI in India
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 July 2010
My Sister stays in US and my brother stays in dubai they want to buy a residential property in india in their own name can they do that what are the legal consquences and requirements to acquire a property as per income tax act and as per RBI act Please reply
29 July 2010
An Indian citizen / a person of Indian origin resident out side India can acquire residential property in India by virtue of clause 3 and 4 of Notification No. FEMA 21/2000-RB dated May 3,2000 issued by RBI.
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