Housing loans in rupees for NRIs/PIOs permitted for acquisition and for repairs or renovation of owned residences. Authorised dealers and National Housing Bank-approved housing finance institutions may provide housing loans in rupees to Non-Resident Indians and Persons of Indian Origin for acquisition of residential accommodation in India, and may also grant loans for repairs, renovation or improvement of residential accommodation owned by them; authorised dealers are to notify constituents and the directions are issued under the Foreign Exchange Management Act.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Housing loans in rupees for NRIs/PIOs permitted for acquisition and for repairs or renovation of owned residences.
Authorised dealers and National Housing Bank-approved housing finance institutions may provide housing loans in rupees to Non-Resident Indians and Persons of Indian Origin for acquisition of residential accommodation in India, and may also grant loans for repairs, renovation or improvement of residential accommodation owned by them; authorised dealers are to notify constituents and the directions are issued under the Foreign Exchange Management Act.
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