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Can a foreign national of non-Indian origin resident outside India acquire residential / commercial property in India by way of gift?

April 26, 2017acquire Commercial foreign India National non-Indian origin outside resident Residential

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Can a foreign national of non-Indian origin resident outside India acquire residential / commercial property in India by way of gift?

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No. Under section 2(ze) of the Foreign Exchange Management Act, 1999 `transfer’ includes among others, `gift’. Therefore, a foreign national of non-Indian origin resident outside India cannot acquire residential / commercial property in India by way of gift.

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A. No. Under section 2(ze) of the Foreign Exchange Management Act, 1999 `transfer’ includes among others, `gift’. Therefore, a foreign national of non-Indian origin resident outside India cannot acquire residential / commercial property in India by way of gift.