Buyer’s Tips
“Jairaj Builders" has decided to incorporate a new feature to its Projects. Window
shutters will be provided with 5 mm float glass. This is a unique feature yet to
be provided by any other competitor in the industry, but something that ‘Jairaj’
has to its credit.
Is it legally approved for foreign nationals of Indian origin to own real estate properties in India?
Foreign nationals of Indian origin, whether resident in India or abroad, have been legally backed to purchase and keep immovable property in India. They are allowed to make payment either out of inward remittances in foreign exchange through normal banking channels or out of funds from NRE/FCNR accounts maintained with banks within India. Also on purchasing the property, they are required to file a declaration in form IPI 7 with the Central Office of Reserve Bank, Bombay within not more than 90 days from the date of purchase of Immovable property.
Ask your doubts on “Is it legally approved for foreign nationals of Indian origin to own real estate properties in India?”
