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of <h1>RBI Circular on Property Rules for NRIs, PIOs, and Foreign Nationals: Key Guidelines on Acquisition, Transfer, and Repatriation.</h1> The Master Circular issued by the Reserve Bank of India outlines the regulations under the Foreign Exchange Management Act, 1999, governing the acquisition and transfer of immovable property in India by Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs), and foreign nationals of non-Indian origin. It details the conditions under which these groups can purchase, transfer, or inherit property, emphasizing restrictions on agricultural land, plantation property, and farmhouses. The circular also addresses the repatriation of sale proceeds, refund of purchase considerations, and the necessity for certain foreign nationals to obtain prior permission from the Reserve Bank for property transactions. The document is valid for one year and will be updated thereafter.
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