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NRI investment

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(Querist)
06 February 2008 Can an NRI invest in realestate in India? if yes what is the procedure i.e. any permission from the RBI to be got.
Also if he wants to fund the investment by taking a loan against the same from a foreign bank, is this allowed.
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R.V.RAO

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R.V.RAO (Expert)
06 February 2008 NO RBI PERMISSION IS REQUIRED FOR ACQUIRING BY NRI PROPERTIES IN INDIA.
SOUCE:www.nritaxservices.com
pl. visit the website .it is very useful.
LOAN FROM LENDER TO NRI DOES NOT NEED ANY PERMISSIONS BY ANY BODY.IT IS THE LOOKOUT OF LENDER AS TO WHAT PERMISSIONS HE NEEDS APART FROM the REPAYING CAPACITY OF NRI.
R.V.RAO
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