Property Acquisition in case of NRI
This query is : Resolved
21 January 2008
NRI wants to purchase a residential property in India.
Please narrate what all things needs to be taken care in respect of above.
Is any RBI permission required for the same?
Please narrate what all things needs to be taken care in respect of above.
Is any RBI permission required for the same?
S.Srinivasaraghavan
(Expert)
23 January 2008
Please refer to para 6A.1 of Foreign Exchange Management Manual, where it is stated that NRI citizen has been given general permission toacquire any immovable property in India other than agricultural/plantation/farm house.
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