What should be the method of payment for purchasing residential/commercial immovable property in India by foreign nationals of Indian origin under the new regulations?
Ans. The purchase consideration should be met out of the inward remittance in foreign exchange through normal banking channels or out of funds from any non-resident account maintained with a bank in India. Q. Are there any formalities be completed by foreign nationals of Indian origin for purchasing residential immovable property in India? Ans. As such there are no formalities to be completed by foreign nationals of Indian origin for purchasing residential property in India except the mode of payment that is explained in earlier answer.
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