Is It Required For An NRI To Take Permission From The RBI To Sell His Or Her Property In India?
Is it required for an NRI To Take permission from the RBI to sell his Or her property in India?
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NRIs are not required to seek the permission of the RBI to sell their property in India. The RBI has given general permission guidelines for the sale of properties that are owned by NRIs in India. However, if the property is bought by a foreign citizen of Indian origin, the funds towards the purchase consideration should be paid out of NRE/FCNR accounts or remitted to India.It must be understood that NRIs are allowed to invest in any real estate property, except for farm houses, agricultural land and plantation properties.
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