Master Circular on Acquisition and Transfer of Immovable Property in India by NRIs/PIOs/Foreign Nationals of Non-Indian Origin (Updated upto March 11, 2015)
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Acquisition and transfer of immovable property by non-residents: regulated permissions, repatriation limits and payment routes. Acquisition and transfer of immovable property in India by NRIs and PIOs is permitted for residential and commercial property (excluding agricultural land/plantation/farm houses) with payments only by inward remittance or debit to permitted non resident accounts; repatriation of sale proceeds requires compliance with lawful acquisition, limits to amounts representing permitted foreign exchange or non resident account balances, and is subject to RBI permission or authorised dealer conditions, while inheritance, diplomatic purchases, business establishment acquisitions, country specific prohibitions, and tax compliance are governed by prescribed declarations and approvals.
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.
Acquisition and transfer of immovable property by non-residents: regulated permissions, repatriation limits and payment routes.
Acquisition and transfer of immovable property in India by NRIs and PIOs is permitted for residential and commercial property (excluding agricultural land/plantation/farm houses) with payments only by inward remittance or debit to permitted non resident accounts; repatriation of sale proceeds requires compliance with lawful acquisition, limits to amounts representing permitted foreign exchange or non resident account balances, and is subject to RBI permission or authorised dealer conditions, while inheritance, diplomatic purchases, business establishment acquisitions, country specific prohibitions, and tax compliance are governed by prescribed declarations and approvals.
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