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of <h1>NRIs and OCIs Can Own Property in India Through Authorized Channels with Specific Gifting and Inheritance Rights</h1> Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs) can acquire immovable property in India under specific conditions. They may purchase non-agricultural property through authorized banking channels, receive property as gift from relatives, inherit property from non-residents, and transfer property to residents or other NRIs/OCIs. Strict regulations govern payment methods and property types, prohibiting transactions through traveler's cheques or foreign currency notes. The provisions ensure controlled and transparent property transactions by non-resident individuals.
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