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of <h1>RBI's Master Circular on Immovable Property Rules for NRIs, PIOs, Foreign Nationals under FEMA 1999.</h1> The Master Circular provides a comprehensive overview of the regulations 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. These regulations are governed by specific provisions of the Foreign Exchange Management Act, 1999, and a related notification. Issued by the Reserve Bank of India, the circular consolidates relevant instructions and will remain effective for one year, until July 1, 2011, after which it will be replaced with an updated version. An appendix lists the underlying circulars and notifications.
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