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How can NRI/PIO make payment for purchase of residential /commercial property in India?

April 26, 2017Commercial India NRI payment PIO Property purchase Residential

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How can NRI/PIO make payment for purchase of residential /commercial property in India?

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Ans. Payment can be made through (a) funds remitted to India through normal banking channel or (b) funds held in NRE/FCNR (B) /NRO account maintained in India. Payment cannot be made either by travelers cheque or by foreign currency notes. No payment can be made outside India.