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hema · 14-05-07

Hi!
Persons of Indian origin and non-resident Indians are welcome to buy property in India. Your son and daughter-in-law are both eligible to purchase apartments of their choice, either singly or jointly.

In the case of your daughter in law, who does not hold an Indian passport, an RBI sanction for any transaction that she makes in immovable property in the country is needed. A declaration in Form IPI 7 is to be submitted at the Central Office of the RBI, Mumbai within 90 days of purchase or final payment of the purchase. Documents supporting the transaction, along with a bank certificate pertaining to the purchase have to be submitted with Form IPI 7.

Payment towards purchase of the property can be made out of inward remittances in foreign exchange through banks, or from your daughter-in-law and son's NRE/FCNR (B)/NRO accounts maintained in India.

14-05-07	#2
hema New Member Join Date: Oct 2006 Posts: 23 Thanks: 0 Thanked 0 Times in 0 Posts	Hi! Persons of Indian origin and non-resident Indians are welcome to buy property in India. Your son and daughter-in-law are both eligible to purchase apartments of their choice, either singly or jointly. In the case of your daughter in law, who does not hold an Indian passport, an RBI sanction for any transaction that she makes in immovable property in the country is needed. A declaration in Form IPI 7 is to be submitted at the Central Office of the RBI, Mumbai within 90 days of purchase or final payment of the purchase. Documents supporting the transaction, along with a bank certificate pertaining to the purchase have to be submitted with Form IPI 7. Payment towards purchase of the property can be made out of inward remittances in foreign exchange through banks, or from your daughter-in-law and son's NRE/FCNR (B)/NRO accounts maintained in India.