Can an NRI/ a PIO purchase immovable property in India without permission from Reserve Bank?
Ans. Reserve Bank has accorded general permission to purchase only a residential/commercial property in India to an NRI/ a PIO. No forms or returns are required to be submitted to Reserve Bank after purchase of such property. Neither there is any restriction on number of residential/commercial property that NRI/PIO can purchase under general permission available.
Related Questions
- Do the non-resident Indians require permission from the Reserve Bank of India for the purchase of immovable property in India?
- Do PIOs require permission of Reserve Bank to purchase immovable property in India for their residential use?
- Can an NRI/ a PIO purchase immovable property in India without permission from Reserve Bank?
