Can an NRI sell his property in India without the permission of RBI?

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Can NRIs acquire or dispose of residential properties by way of gifts?

No Comments January 4, 2016

Yes, the Reserve Bank has granted general permission to NRIs to acquire or dispose of NRI India Properties by way of gift from or to a relative who may be an Indian citizen or a person of Indian origin (PIO) whether resident in India or not.

Can an NRI purchase commercial property in India?

No Comments January 4, 2016

Yes, under the general permission granted by the Reserve Bank, property other than agricultural land/farm house/plantation property can be acquired by NRIs provided the purchase consideration is met either out of inward remittances in foreign exchange through normal banking ch ..