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of <h1>Master Circular: Rules for NRIs, PIOs, and Foreign Nationals on Buying and Transferring Property in India under FEMA 1999.</h1> The Master Circular outlines 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. NRIs and PIOs can purchase non-agricultural properties and transfer them with certain restrictions. Foreign nationals, except those from specific countries, can acquire property under specific conditions. The circular details payment methods, repatriation of sale proceeds, and restrictions for citizens from certain countries. It also covers property acquisition by foreign embassies and diplomats, emphasizing compliance with applicable laws and tax regulations.
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