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Can a home/land be sold without the permission of Reserve Bank?

April 26, 2017Bank Home land permission Reserve sold

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Can a home/land be sold without the permission of Reserve Bank?

1 Answer

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10 Posted

Ans.: Yes. Reserve Bank has granted general permission for sale of property. However, where another foreign citizen of Indian origin purchases the property, funds towards the purchase consideration should either be remitted to India or paid out of balances in non-resident accounts maintained with banks in India.