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- dear mods .. kindly move this thread to greater noida forumCommentQuote0Flag
- Originally Posted by arvindLegal formalities for NRIs…....
Non-resident Indians (NRIs) can freely buy and sell residential and commercial properties in India. A foreign citizen of Indian origin does not have to obtain RBI's permission for purchasing and selling residential and commercial properties (other than agricultural/plantation land and farm house) for bonafide purposes provided the purchase is met through foreign exchange.
However, a declaration has to be submitted to RBI within 90 days of the purchase and similarly permission has to be sought from RBI will within 90 days of the sale of the property.
There are many other clauses and issues that need to be addressed and taken care of so as to avoid any future legal hassles, especially when you are buying a property thousands of miles away.
Is this in shahberi village land ?CommentQuote0Flag