Non Resident Indians – being Indian citizens and foreign citizens of Indian Origin, other than citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal & Bhutan, residing abroad can freely acquire & transfer immovable properties in India, subject to certain restrictions laid down under Foreign Exchange Management Act, 1999.
In order to address various issues relating to acquisition and transfer of immovable property in India by a person resident outside India under the provisions of the Foreign Exchange Management Act, 1999, a set of FAQs has been prepared for the information of all concerned. These FAQs seek to cover the broad spectrum of issues relating to acquisition and transfer of immovable property in India by a Non- Resident Indian (NRI) or a foreign national of Indian Origin (PIO) or a foreign national of non-Indian origin as also by a person resident in India who is not a citizen of India. In case there are other issues to be resolved, a reference may be made to the Chief General Manager, Reserve Bank of India, Foreign Investment Division, Central Office, Mumbai 400 001.