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Latest Questions

Q: Can NRI acquire residential property by way of gift?

A: Yes, the Reserve Bank has granted general permission to NRIs/PIOs to acquire or dispose of commercial or residential properties by way of gift from or to a person resident in India or NRI or PIO....

Q: How is the stamp duty payable on purchase/sale of any immovable property determined?

A: Stamp Duty is payable on ‘Government Market Value’ of property or the consideration agreed to be paid for the purchase of the same, whichever is higher. In areas within the limits of the Municipal...

Q: Can NRIs transfer their property by way of sale?

A: As per the current guidelines, NRIs/PIOs are allowed to transfer their properties by way of sale.

Q: How many residential/commercial properties can NRI/PIO purchase under the general permission?

A: There are no restrictions on the number of residential/commercial properties that can be purchased by NRI/OCI.

Q: Can an NRI acquire immovable property in India by way of gift?

A: Yes, NRIs and OCIs can freely acquire any immovable property in India other than agricultural land/ farm house/ plantation property by way of gift from a person resident in India or from an NRI or...

Q: Can NRI inherit property in India?

A: Yes, a Non-Resident Indian (NRI), Person of Indian origin (PIO) or even a foreign national of non-Indian origin can inherit and hold property in India. This includes residential and commercial...

Q: Can NRI buy property in India?

A: Though RBI has given general permission to the NRIs to purchase immovable properties in India, the permission does not grant power to acquire any and every property in India. The NRIs are allowed...

Q: If the immovable property was acquired by way of gift by the NRI/PIO can he repatriate abroad the funds from sale?

A: The sale proceeds of immovable property acquired by way of gift should be credited to NRO account only. From the balance in the NRO account, NRI / PIO may. remit up to USD one million, per...

Q: Can NRI acquire immovable property in India by way of gift?

A: (a) Yes, NRIs and PIOs can freely acquire immovable property by way of gift either from a person resident in India However, the property can only be commercial or residential. Agricultural...

Q: Can NRI acquire agricultural land in India?

A: A person resident outside India (that is, an NRI, a PIO or a foreign national of non-Indian origin) cannot acquire agricultural land/plantation/farm house in India by way of purchase. An NRI or a...