RBI GUIDELINE

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Rajesh (Querist)
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07 November 2023 Dear Sir / Madam,

This is Rajesh, I want to know about the RBI guideline for Sale of property. I am resident of srilanka, but I have assests (Land & property) in india. Now I want to sell my indian property. If need any special permission for Property selling from RBI. Please advice and any notification is applicable. Please share.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 November 2023 No need for any permission for sale of property.
Permission required only for buying the property.

Rajesh

Rajesh (Querist)
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10 November 2023 Sir, Thanks for your reply. If any notification is available for without prior permission. Why because based on the below RBI notification the prior permission is must for acquire or transfer, Please explain.

RBI/FED/2015-16/7
FED Master Direction No. 12/2015-16 January 1, 2016
[Updated as on June 6, 2022] [Updated as on April 11, 2018] [Updated as on February 4, 2016*]

- Prohibition on acquisition or transfer of immovable property in India by citizens of certain countries
309.1 Citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, Bhutan, Macau, Hong Kong and Democratic People’s Republic of Korea cannot, without prior permission of the Reserve Bank, acquire or transfer immovable property in India

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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10 November 2023 Take permission based on the above circular. No other circular available.

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