A person of Indian origin is an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who: – At any time, held Indian passport; – Who or either of whose father or whose grandfather was a citizen of India by virtue of […]
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4. Do non-resident Indian citizen require permission of Reserve Bank to acquire residential/ commercial property in India?
No. An Indian citizen resident outside India does not require any permission to acquire any immovable property in India other than agricultural/ plantation property or a farmhouse.
3. Where can permission be taken for acquisition of agricultural land/plantation property / farmhouse by any person resident outside India or foreign nationals of Indian origin?
All requests for acquisition of agricultural land/plantation property/farmhouse by any person resident outside India or foreign nationals may be made to The Chief General Manager, Reserve Bank of India, Central Office, Exchange Control Department, Foreign Investment Division (III), Mumbai 400 001.
2. Do non-resident Indian citizen require permission of Reserve Bank to acquire residential/ commercial property in India?
No. An Indian citizen resident outside India does not require any permission to acquire any immovable property in India other than agricultural/ plantation property or a farmhouse.
1. Who is a Non-Resident Indian (NRI)?
An NRI is a Person Resident Outside India who is a citizen of India or a Person of Indian origin. A Person resident outside India is a person who has gone out of India or who stays outside India, in either case – For or on taking up employment outside India, or – For carrying […]
