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What are the formalities to be completed by foreign nationals of Indian origin for purchasing residential immovable property in India?

April 26, 2017foreign formalities immovable indian nationals origin Property purchasing Residential

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What are the formalities to be completed by foreign nationals of Indian origin for purchasing residential immovable property in India?

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They are required to file a declaration in form IPI 7 with the Central Office of Reserve Bank at Bombay within a period of 90 days from the date of purchase of immovable property.