What should be the method of payment for purchasing residential immovable property in India by foreign nationals of Indian origin under the general pe

Question: What should be the method of payment for purchasing residential immovable property in India by foreign nationals of Indian origin under the general permission?

Answer(s)

Raju Kanumuri: The purchase consideration should be met either out of inward remittances in foreign exchange through normal banking channels or out of funds from NRE/ FCNR accounts maintained with banks in India.

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