regarding real estate business

[faruk patel]

Respected to All,

whether non resident India or person of Indian origin can act as builder in India?

whether RBI permission required for it?

can he do business of allotment of ploting of land and sale of plot to customers?

Your's faithfully,

faruk patel

[DR.MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in the above issue? If not please inform.

AI Summary

Non-resident Indian builders: whether NRIs/PIOs require regulatory permission to develop, allot and sell plots in India. Whether a Non-Resident Indian or person of Indian origin may act as a builder in India, whether regulatory permission is required to carry on such activity, and whether such a person can undertake allotment of plotted land and sale of plots to customers; the query arises in the foreign exchange regulatory context and seeks clarity on compliance and permission requirements for non-resident participation in real estate development, allotment and sale of plots in India.