Do foreign citizens of Indian origin require permission of RBI, to purchase immovable property in India for their residential use ?
Yes, however under general permission granted by RBI, one immovable property can be purchased for bonafide residential purpose. Payment should be made through NRE/FCNR(B) or through foreign remittance, through proper banking channel. Declaration in IPI-7 should be filed within 90 days from the date of purchase, to RBI.
Related Questions
- Do foreign citizens of Indian origin require permission RBI permission to purchase immovable property in India for their residential use?
- Do foreign citizens of Indian origin require permission of the RBI to purchase immovable property in India for their residential use?
- Do foreign citizens of Indian origin require permission of RBI, to purchase immovable property in India for their residential use ?
