Prohibition on foreign citizens acquiring or transferring immovable property mandates prior approval, with a short-term lease exception. Citizens of specified foreign jurisdictions may not acquire or transfer immovable property in India without prior Reserve Bank permission, other than by a ... Summary
Prohibition on foreign citizens acquiring or transferring immovable property mandates prior approval, with a short-term lease exception.
Citizens of specified foreign jurisdictions may not acquire or transfer immovable property in India without prior Reserve Bank permission, other than by a lease not exceeding five years; the prohibition applies to natural persons and legal entities, and does not apply to Overseas Citizen of India (OCI).
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