rakesh

Can foreign citizen of Indian Origin acquire or dispose of residential property by way of gift?

There are quite a few NRIs who wish to gift real estate articles to their relatives but are concerned about how should they be employing the thing...

Actually Reserve Bank of India has taken few positive moves in the domain but I am not in acquaintance with it....

rajiv

Yes. Reserve Bank has granted general permission to foreign citizen of Indian Origin to acquire or dispose of properties up to two houses by way of gift from or to a relative who may be an Indian Citizen or a person of Indian origin whether resident in India or not, subject to compliance with applicable tax laws...