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: Indian Origin
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 […]
Rules for Transfer of Immovable Property in India
January 15, 2008 – 3:27 am
Immovable property transfer occurs as a big issue sometimes. Sometimes confusions make it more complex. Here’s the clear view of property transfer rules. Immovable property can be transferred by sale or by gift or through mortgage. NRI, PIO, Foreign national must have to follow some rules while selling immovable property in India. NRI can sell […]
