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of <h1>RBI issues FEMA regulations governing acquisition and transfer of immovable property outside India under Section 6(3)(h)</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, designated as FEMA 7/2000-RB and published as G.S.R. 390(E), were notified on May 3, 2000, and came into force on June 1, 2000. The regulations were made under powers conferred by Section 6(3)(h) and Section 47(2) of FEMA, establishing the regulatory framework for cross-border immovable property transactions by Indian residents.
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