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of <h1>Citizens from 11 Specified Countries Face Strict Limits on Property Ownership in India Without Reserve Bank Approval</h1> The statutory provision prohibits citizens of specific countries (Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, Bhutan, Hong Kong, Macau, and North Korea) from acquiring or transferring immovable property in India without prior Reserve Bank permission, except for leases under five years. The restriction does not apply to Overseas Citizens of India (OCI). The term 'citizen' encompasses both natural persons and legal entities.
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