Acquisition And Transfer Of An Immovable Property By A Person Of Indian Origin
[ Acquisition and Transfer of Immovable Property in India by NRIs and FEMA]
Regulation No.4 of the aforesaid Regulations permits a person of Indian origin to:
acquire immovable property other than agricultural land/plantation property or a farm house by way of purchase subject to the conditions regarding RBI rules mentioned in clause (a) of the Regulation;
acquire any immovable property other than agricultural land/plantation property/farm house by way of gift from an Indian citizen resident outside India or from a PIO;
acquire property by inheritance subject to the conditions stipulated in clause (c) of the Regulation;
transfer by way of sale any ‘immovable property other than agricultural/plantation property or a farm house by way of sale to a person resident in India;
transfer agricultural land/farm house or plantation property way of gift or sale to an Indian citizen resident in India.
transfer residential or commercial property in India by way of gift to a person resident in India or to a person resident outside India who is a citizen of India or to a person of Indian origin resident outside India.
Acquisition and Transfer of Immovable Property in India by NRIs and FEMA
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