Can a foreign national of non-Indian origin acquire residential property in India?
A. The Reserve Bank of India on an application in Form IPI I may consider favourably the acquisition of residential property by Foreign Nationals of Non-Indian origin provided: 1. The purchase consideration is met out of funds remitted from abroad. 2. The property is acquired for bonafide residential use. 3. The foreign National of Non-Indian origin undertakes not to repatriate the sale proceeds.
Related Questions
- Can a foreign national of non-Indian origin resident outside India acquire any immovable property in India by way of purchase? Can they have the property on lease?
- Can a foreign national of non-Indian origin acquire residential property on a lease in India?
- Can a foreign national of non-Indian origin acquire residential property in India?
