The following categories are allowed to purchase immovable property in India
However, this applies only to the purchase of residential and commercial properties and does not apply for purchase of agricultural land/ plantation property/ farmhouse in India.
A foreign national of non-Indian origin, resident outside India is not allowed to buy immovable property in India unless the property is acquired by way of inheritance from a person who was resident in India. However, the person is allowed to acquire or transfer immovable property in India, on lease, not more than five years. In such cases, it is not compulsory to take any permission or report to the Reserve Bank of India.
Yes. However, the concerned person would have to obtain the approvals & fulfil the requirements, if any prescribed by other authorities like the State Government concerned, etc. The onus to prove his/her residential status is on the person as per the extant FEMA provisions, if needed by any authority. However, a foreign national resident in India who is a citizen of Pakistan, Bangladesh, Iran, Bhutan, Nepal, Sri Lanka, Afghanistan and China will need prior permission of the Reserve Bank.
A foreign company that has established a Branch Office of business in India, in accordance with the Foreign Exchange Management Regulations, 2000 may acquire any immovable property in India, which is necessary for or incidental to carrying on such activity. The payment for acquiring such property should be made by way of foreign inward remittance through the proper banking channels. A declaration in form IPI should be filed with the Reserve Bank within ninety days from the date of acquiring the property. Such a property can also be mortgaged with an Authorised Dealer as a security for the purpose of borrowings. On winding up of the business, the sale proceeds of such property can be repatriated only with the prior approval of the Reserve Bank. Further, acquisition of immovable property by entities incorporated in Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan and who have set up Branch Offices in India and would require prior approval of the Reserve Bank. However, if the foreign company has established a Liaison Office in India, it cannot acquire immovable property. In such cases, Liaison Offices can acquire property by way of lease not exceeding 5 years.
Yes, NRIs and PIOs can freely acquire immovable property by way of gift either from
However, the property can only be commercial or residential in nature. Agricultural land / plantation property / farm house in India cannot be acquired by way of gift. A foreign national of non-Indian origin resident outside India cannot acquire any immovable property in India by way of gift.
Yes, a person resident outside India i.e.
However, a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan should seek prior approval of the Reserve Bank for inheriting immovable property in India.