Can foreign embassies sell immovable property in India

Question: Can foreign embassies sell immovable property in India?

Answer(s)

Raju Kanumuri: In terms of Regulation 5A of the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations 2000, Foreign Embassies/ Diplomats/ Consulates General may purchase/ sell immovable property (other than agricultural land/ plantation property/ farm house) in India provided –

1. Clearance from the Government of India, Ministry of External Affairs has been obtained for such purchase/sale; and

2. The consideration for the acquisition of immovable property in India is paid out of funds remitted from abroad through the normal banking channels.

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