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Back to Top of Index Question-97: Do foreign citizens of Indian origin require permission of Reserve Bank to purchase immovable property in India for their residential use ?

April 26, 2017Bank citizens foreign index indian origin permission require Reserve

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Back to Top of Index Question-97: Do foreign citizens of Indian origin require permission of Reserve Bank to purchase immovable property in India for their residential use ?

1 Answer

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Yes. However, Reserve Bank has granted general permission to foreign citizens of Indian origin, whether resident in India or abroad, to purchase immovable property in India for their bonafide residential purpose. They are, therefore, not required to obtain separate permission of Reserve Bank.