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of <h1>RBI issues new regulations under FEMA 1999 for acquisition and transfer of immovable property outside India</h1> The Reserve Bank of India issued regulations under the Foreign Exchange Management Act, 1999, governing acquisition and transfer of immovable property outside India. These regulations, titled Foreign Exchange Management (Acquisition and transfer of immovable property outside India) Regulations, 2015, supersede previous 2000 notifications. The regulations exercise powers under specific sections of FEMA and become effective upon publication in the Official Gazette. The notification was issued from the RBI's Foreign Exchange Department in January 2016, establishing the regulatory framework for cross-border immovable property transactions by Indian residents.
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