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Do foreign citizens of Indian Origin require permission of Reserve Bank to purchase immovable property in India for their residential purpose?

April 26, 2017Bank citizens foreign immovable indian origin permission purchase require Reserve

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Do foreign citizens of Indian Origin require permission of Reserve Bank to purchase immovable property in India for their residential purpose?

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Reserve Bank has granted general permission to foreign citizens of Indian Origin, whether resident in India or abroad, to purchase immovable property in India for their bonafide residential purpose. They ate, therefore, not required to obtain permission of Reserve Bank.