Q: How can a Person of Indian origin who has migrated from India purchase a property?
A: Person of Indian origin who has migrated from India to any other foreign country can do the registration upon submitting the OCI (Overseas Citizenship Identity) Card Copy.
Q: In what manner should the purchase consideration for the immovable property be paid by PIOs under the general permission?
A: The purchase consideration should be met either out of inward remittances in foreign exchange through normal banking channels or out of funds from any non-resident accounts maintained with banks in...
Q: Can NRI buy property in India jointly with a foreign citizen?
A: No, an NRI or a PIO cannot buy a property in India jointly with a foreign citizen.
Q: Do NRIs require RBI permission to transfer immovable property in India?
A: No! NRIs do not require the permission of the RBI in order to transfer immovable property to any Indian Citizen, NRI or PIO.
Q: Is it possible for NRIs to acquire/dispose off the residential/commercial property by way of gift?
A: Yes! The Reserve Bank of India has not applied any restrictions on NRIs or PIOs to acquire or dispose off residential/commercial property, by way of gifts to other Indian citizens, NRIs or PIOs...
Q: Can an office of a foreign company purchase immovable property in India?
A: A foreign company which has established a Branch Office or other place of business in India, in accordance with FERA / FEMA regulations, can acquire any immovable property in India, which is...
Q: Can residential/ commercial property be mortgaged by NRI/PIO?
A: Yes, An NRI/PIO can mortgage residential/commercial property to:
* An authorized dealer/housing finance institution in India without the approval of the Reserve Bank.
* A party abroad with...
Q: Can foreign embassies/ consulate generals purchase/ sell immovable property in India?
A: Yes. They can purchase and sell any immovable property with prior clearance from the government of India, Ministry of External Affairs. The payment should be made by means of foreign inward...
Q: Can foreign nationals of Non-Indian origin resident in India or outside India who had earlier acquired immovable property under FERA with specific approval of RBI continue to hold the same and can they transfer such property?
A: Yes, they may continue to hold the immovable property under license obtained from RBI. However, they can transfer the property only with the prior approval of RBI
Q: In what manner the purchase consideration of the residential immovable property should be paid by foreign citizens of Indian origin under the general permission?
A: The purchase consideration should be met either out of inward remittances in foreign exchange through normal banking channels or out of funds from NTE/FCNR accounts maintained with banks in India.