logo logo

Can immovable properties be transferred to Non-Indian citizens?

- by Manu, Bangalore

Your query is not clear, whether the transfer of property is to non-resident Indian or a person of Indian origin or to a foreign national. The Foreign Exchange Management Act 1999 allows transfer of immovable properties to non-resident Indians or person of Indian origin except agricultural land/plantation/farm house. If the transfer is to a foreign national, prior permission of Reserve Bank of India and other statutory agencies is required and depends upon the purpose of such acquisition. 

image

These are all the legal questions answered by Advocate S.Selvakumar in various magazines, in various occasion including realestate reporter monthly.