There are some queries regarding property dealing with NRI, which always create confusion. The most confusing matter is that when Reserve Bank’s permission is mandatory and when there is no need of all that stuff. Non-resident Indian do not require permission from the Reserve Bank to acquire residential or commercial property. The Reserve Bank has […]
Tag: Citizen
Laws for Possession of Immovable Property in India by a Person Resident Outside India
January 28, 2008 – 5:44 am
Under the law, the following categories can freely purchase immovable property in India: i) Non-Resident Indian (NRI) – that is a citizen of India resident outside India. ii) Person of Indian Origin (PIO) – that is an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran […]
