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Fema

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ARUN KUMAR MAITRA

ARUN KUMAR MAITRA (Querist)
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10 August 2012 Can a resident Indian purchase a house-property abroad?

srinath (Expert)
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10 August 2012 An Indian resident can buy a house overseas under the liberalised remittance scheme by making remittance of upto USD 200,000 per financial year.

FEMA also permits a person resident in India to acquire a house property outside India by way of gift or inheritance from a person resident outside India.

In addition, a person resident in India may hold an immovable property outside India acquired when the person was not resident in India (when he may have been working outside India).

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