Can a home/land be sold by an NRI or Person of Indian Origin without the permission of the Reserve Bank of India?

16 Jun 2020

Can a home/land be sold by an NRI or Person of Indian Origin without the permission of the Reserve Bank of India?

Yes, the RBI has granted general permission for sale of property. However, where another foreign citizen of Indian origin purchases the property, funds towards the purchase consideration should either be remitted to India, or paid out of balances in non-resident accounts maintained with banks in India.

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