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Is It true that foreign citizens of Indian origin require permission of Reserve Bank to purchase immovable property in India for their residential use?

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

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Is It true that foreign citizens of Indian origin require permission of Reserve Bank to purchase immovable property in India for their residential use?

1 Answer

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10 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 bona fide residential purpose.