Acquisition of Immovable Property: rules for NRIs, PIOs and foreign nationals govern permissible purchases, transfers and repatriation. Regulation permits NRIs and PIOs to purchase residential and commercial immovable property in India (excluding agricultural land, plantation property and farm houses) with payments made by inward remittance through normal banking channels or by debits to specified non-resident accounts; purchases under general permission need no Reserve Bank filing. Persons resident outside India establishing a branch or office may acquire property necessary for the permitted activity subject to laws and filing Form IPI. Repatriation of sale proceeds is allowed only under prescribed conditions and limits, with inheritance and rupee-funded holdings subject to documentary proof and tax compliance; citizens of certain countries and non-resident foreign nationals face additional restrictions or require prior approval.
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 of Immovable Property: rules for NRIs, PIOs and foreign nationals govern permissible purchases, transfers and repatriation.
Regulation permits NRIs and PIOs to purchase residential and commercial immovable property in India (excluding agricultural land, plantation property and farm houses) with payments made by inward remittance through normal banking channels or by debits to specified non-resident accounts; purchases under general permission need no Reserve Bank filing. Persons resident outside India establishing a branch or office may acquire property necessary for the permitted activity subject to laws and filing Form IPI. Repatriation of sale proceeds is allowed only under prescribed conditions and limits, with inheritance and rupee-funded holdings subject to documentary proof and tax compliance; citizens of certain countries and non-resident foreign nationals face additional restrictions or require prior approval.
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