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Can residential/commercial property be mortgaged?

April 26, 2017Commercial mortgaged Property Residential

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Can residential/commercial property be mortgaged?

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A.16. i) NRI/ PIO can mortgage to: (a) an authorised dealer/ housing fnance institution in India without the approval of Reserve Bank. (b) a party abroad – with prior approval of Reserve Bank. ii) a foreign national of non-Indian origin can mortgage only with prior approval of Reserve Bank iii) a foreign company which has established a Branch Office or other place of business in accordance with FERA/FEMA regulations has general permission to mortgage the property with an authorized dealer in India.