Frequently Asked Questions (FAQ’s)
Q.1 Who can purchase immovable property in India?
A. 1 Under the general permission available, the following categories can freely purchase immovable property in India:
i) Non‐Resident Indian (NRI)‐ that is a citizen of India resident outside India
ii) Person of Indian Origin (PIO)‐ that is an individual (not being a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan), who
1. at any time, held Indian passport, or
2. who or either of whose father or grandfather was a citizen of India by virtue of the Constitutionof India or the Citizenship Act, 1955 (57 of 1955).
The general permission, however, covers only purchase of residential and commercial property and not for purchase of agricultural land / plantation property / farm house in India.
RBI Guidelines
Acquisition and Transfer of Immovable Property in India by a Person Resident outside India
Acquiring immovable property in India by persons resident outside India is regulated in terms of Section 6(3) (i) of the Foreign Exchange Management Act (FEMA), 1999 as well as by the regulations contained in Notification issued by RBI viz Notification No FEMA. 21/2000‐RB dated May 3, 2000, as amended from time to time. The persons resident outside India are categorized as Non‐ Resident Indians (NRIs) or a foreign national of Indian Origin (PIO) or a foreign national of non‐Indian origin. A person resident in India who is not a citizen of India is also covered by the relevant Notifications.
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