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VIII Mode of payment for purchase of residential/commercial property in India by NRI/PIO Q.27. Under the general permission available what is mode of payment for purchase of residential/commercial property in India by NRI/PIO?

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VIII Mode of payment for purchase of residential/commercial property in India by NRI/PIO Q.27. Under the general permission available what is mode of payment for purchase of residential/commercial property in India by NRI/PIO?

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A.27. Under the general permission available NRI/PIO may purchase residential/commercial property in India out of funds remitted to India through normal banking channel or funds held in his NRE/FCNR (B)/NRO account. No consideration shall be paid outside India.

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