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Do NRIs / PIOs require permission of Reserve Bank of India to acquire residential / commercial property in India?

April 26, 2017acquire Bank Commercial India NRIs permission require Reserve Residential

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Do NRIs / PIOs require permission of Reserve Bank of India to acquire residential / commercial property in India?

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No. Reserve bank of India has granted general permission to foreign citizens of Indian origin, and NRIs except for citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran and Nepal, to purchase immovable property in India for their bonafide residential purpose. They are, therefore, not required to obtain permission of RBI.