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Do foreign citizens of Indian origin require permission of the Reserve Bank to purchase immovable property in India for their residential use?

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 the Reserve Bank to purchase immovable property in India for their residential use?

3 Answers

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Ans. Yes. However, the RBI has granted general permission to foreign citizens of Indian origin, whether resident in India or abroad, to purchase immovable property in India for their bona fide residential purpose. They are, therefore, not required to obtain separate permission of The Reserve Bank.

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Yes. However, the RBI has granted general permission to foreign citizens of Indian origin, whether resident in India or abroad, to purchase immovable property in India for their bona fide residential purpose. They are, therefore, not required to obtain separate permission of The Reserve Bank.

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Posted

Yes. However, 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 are, therefore, not required to obtain separate permission of The Reserve Bank.