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Are there any formalities to be completed by foreign nationals of Indian origin for purchasing residential immovable property in India?

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Are there any formalities to be completed by foreign nationals of Indian origin for purchasing residential immovable property in India?

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Ans.They are required to file a declaration in form IPI 7 with the Central Office of Reserve Bank at Bombay within a period of 90 days from the date of purchase of immovable property.

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They are required to file a declaration in form IPI 7 with the Central Office of Reserve Bank at Bombay within a period of 90 days from the date of purchase of immovable property.

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They are required to file a declaration in form IPI 7 with the Central Office of Reserve Bank at Bombay within a period of 90 days from the date of puchase of Immovable property.

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Ans. They are required to file a declaration in form IPI 7 with the Central Office of Reserve Bank at Bombay within a period of 90 days from the date of purchase of immovable property.

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