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Can such property be sold without the permission of the RBI (Indian Reserve Bank) ?

April 26, 2017Bank indian permission Property rbi Reserve sold

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Can such property be sold without the permission of the RBI (Indian Reserve Bank) ?

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Yes. Reserve Bank has granted general permission for 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 remitted to India or paid out of balances in NRE/FCNR accounts.