Restriction on acquisition of immovable property abroad: residents need RBI permission; specified exceptions and AD bank remittance limits apply. Residents require prior RBI permission to acquire or transfer immovable property outside India, subject to exceptions for nationals of the foreign State, pre 1947 acquisitions with RBI permission, short leases, and specific permitted modes of acquisition (inheritance, gift, purchase from compliant residents, RFC funds, LRS remittances, joint acquisition with non resident relatives, or out of permitted overseas income/sale proceeds). Indian entities with overseas offices may acquire property for staff/business per RBI directions. Transfers and charges are allowed only where the initial acquisition was permitted. AD banks oversee remittance ceilings for such acquisitions.
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.
Restriction on acquisition of immovable property abroad: residents need RBI permission; specified exceptions and AD bank remittance limits apply.
Residents require prior RBI permission to acquire or transfer immovable property outside India, subject to exceptions for nationals of the foreign State, pre 1947 acquisitions with RBI permission, short leases, and specific permitted modes of acquisition (inheritance, gift, purchase from compliant residents, RFC funds, LRS remittances, joint acquisition with non resident relatives, or out of permitted overseas income/sale proceeds). Indian entities with overseas offices may acquire property for staff/business per RBI directions. Transfers and charges are allowed only where the initial acquisition was permitted. AD banks oversee remittance ceilings for such acquisitions.
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