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Can PIOs acquire or dispose of immovable property by way of gift?

April 26, 2017acquire dispose gift immovable PIO Property

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Can PIOs acquire or dispose of immovable property by way of gift?

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Yes. Reserve Bank has granted general permission to foreign citizens of Indian origin to acquire or dispose of immovable properties other than agricultural land/farmhouse/plantation property by way of gift from or to an Indian citizen, NRI or PIO. Q: Can NRI’s/PIO’s rent out the properties (residential/commercial) if not required for immediate use? A: Yes. Reserve Bank has granted general permission for letting out any immovable property in India. The rental income or proceeds of any investment of such income is eligible for repatriation Q: Can NRIs obtain loans for acquisition of a house/flat for residential purpose from financial institutions providing housing finance? A: Reserve Bank has granted general permission to certain financial institutions providing housing finance e.g. HDFC, LIC Housing Finance Ltd., etc., to grant housing loans to NRI’s for acquisition of a house/flat for self occupation subject to certain conditions. The purpose of loan margin money and the quantum of loa

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Yes. Reserve Bank has granted general permission to foreign citizens of Indian origin to acquire or dispose of immovable properties other than agricultural land/farmhouse/plantation property by way of gift from or to an Indian citizen, NRI or PIO.

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Ans. Yes. Reserve Bank has granted general permission to foreign citizens of Indian origin to acquire or dispose of immovable properties other than agricultural land/farmhouse/plantation property by way of gift from or to an Indian citizen, NRI or PIO.

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Yes. Reserve Bank has granted general permission to foreign citizens of Indian origin to acquire or dispose of immovable properties other than agricultural land/farmhouse/plantation property by way of gift from or to an Indian citizen, NRI or PIO. • Can NRI’s/PIO’s rent out the properties (residential/commercial) if not required for immediate use? Yes. Reserve Bank has granted general permission for letting out any immovable property in India. The rental income or proceeds of any investment of such income is eligible for repatriation • Can NRIs obtain loans for acquisition of a house/flat for residential purpose from financial institutions providing housing finance? Reserve Bank has granted general permission to certain financial institutions providing housing finance e.g. HDFC, LIC Housing Finance Ltd., etc., to grant housing loans to NRI’s for acquisition of a house/flat for self occupation subject to certain conditions. The purpose of loan margin money and the quantum of loan will b

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Ans Yes. Reserve Bank has granted general permission to foreign citizens of Indian origin to acquire or dispose of immovable properties other than agricultural land/farmhouse/plantation property by way of gift from or to an Indian citizen, NRI or PIO.