Under the general permission available, the following categories can purchase immovable property in India:
The general permission, however, covers only purchase of residential and commercial property and is not available for purchase of agricultural land / plantation property / farm house in India.
No. Under the general permission, NRIs/PIOs cannot acquire agricultural land / plantation property / farm house in India. Such proposals require specific approval from the Reserve Bank and will be considered in consultation with the Government of India.
No, there is no requirement to file any documents with the Reserve Bank of India after purchasing residential or commercial property under general permission.
There is no limit on the number of residential or commercial properties that an NRI / PIO can purchase under the general permission.
Yes, a person resident outside India who is a citizen of a foreign state of non-Indian origin may be a second holder to immovable property (other than agricultural land/ farm house/ plantation property) purchased by an NRI/ PIO, provided that the NRI/ PIO is the main holder and the payment for the purchase is made in accordance with the regulations.
No, a foreign national of non-Indian origin resident outside India cannot purchase immovable property in India unless such property is acquired by way of inheritance from a person who was resident in India.
A foreign company which has established a branch or other place of business in India can acquire any immovable property in India, which is necessary for or incidental to carrying on such activity, provided that all applicable laws are complied with and a declaration is filed with the RBI within 90 days.
Yes, NRIs and PIOs can acquire any immovable property in India other than agricultural land/ farm house/ plantation property by way of gift from a person resident in India or from an NRI or from a PIO, who is a relative as defined in Section 2(77) of the Companies Act, 2013.
Yes, a person resident outside India can inherit immovable property in India from a person resident in India or from a person resident outside India, provided that the latter had acquired such property in accordance with the law in force at the time of acquisition.
A person resident outside India can inherit immovable property from a person resident in India or from another person resident outside India, subject to certain conditions regarding the status of the property and compliance with FEMA regulations.
NRIs and PIOs can transfer any immovable property in India to a person resident in India. They can also transfer any immovable property other than agricultural land / farm house / plantation property to an NRI or PIO resident outside India.
Yes, NRIs and PIOs can sell their residential or commercial property in India to a person resident in India, or to an NRI or a PIO. Foreign nationals of non-Indian origin can sell such property to a person resident in India with prior approval from the RBI.
NRIs and PIOs can sell agricultural land / plantation property / farm house in India to a person resident in India who is a citizen of India. Foreign nationals would require specific permission from the RBI.
Yes, NRIs and PIOs can gift their residential or commercial property in India to a person resident in India or to an NRI or a PIO who is a relative as defined under the Companies Act.