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Can a person of Indian origin resident outside India gift properties acquired earlier in terms of the provisions of FERA/FEMA?

April 26, 2017acquired FEMA fera gift India indian origin outside person properties resident

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Can a person of Indian origin resident outside India gift properties acquired earlier in terms of the provisions of FERA/FEMA?

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Yes. A person of Indian origin resident outside India may transfer residential or commercial property in India by way of gift to a person resident in India or to a person resident outside India who is a citizen of India or to a person of Indian origin resident outside India. A Person of Indian origin resident outside India may also transfer by way of gift agriculture land/farm house/plantation property in India to a person resident in India who is a citizen of India.