Reserve Bank of India (RBI) Guidelines on NRI Investment in properties in India
I. PERMISSION FOR PURCHASE OF RESIDENTIAL PROPERTY / COMMERCIAL PROPERTY.
1. NRIs holding Indian passports—No permission required
2. NRIs holding foreign passports—Intimation to RBI via form
IPI – 7 within 90 days of purchase of property or final payment of consideration.
Funds through NRE/NRO accounts.
http://jsholdings.in/JS-Homes/nris-rbi-guidelines/
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