Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Can such property be sold without the permission of Reserve Bank of India?

April 26, 2017Bank India permission Property Reserve sold

0

Posted

Can such property be sold without the permission of Reserve Bank of India?

1 Answer

0

Posted

Yes, Reserve Bank has granted permissionfor sale of such property. However, where the property is purchased by another foreign citizen of Indian origin, funds towards the purchase consideration should either be permitted to India or paid out of balances in NRE/FCNR accounts.