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Can NRIs (Non Resident Indians) acquire / dispose off residential property by way of gift?

April 26, 2017acquire dispose gift indians NRI Property resident Residential

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Can NRIs (Non Resident Indians) acquire / dispose off residential property by way of gift?

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Yes, RBI has granted general permission to NRI’s to acquire / dispose off properties upto two houses by way of gift from / to a relative who may be an Indian Citizen / a person of Indian origin whether residing in India / not, subject to the compliance with tax laws.