Frequently Asked Questions
Q.1. Can a foreign national of non-Indian origin be a second holder to immovable property purchased by NRI / PIO?
Q.2. Can a foreign national of non-Indian origin resident outside India purchase immovable property in India?
A.2. No. A foreign national of non-Indian origin, resident outside India cannot purchase any immovable property in India. But, he/she may take residential accommodation on lease provided the period of lease does not exceed five years. In such cases, there is no requirement of taking any permission of or reporting to Reserve Bank
Q.3 Can a foreign national who is a person resident in India purchase immovable property in India?
A.3. Yes, but the person concerned would have to obtain the approvals, and fulfil the requirements if any, prescribed by other authorities, such as the concerned State Government, etc However, a foreign national resident in India who is a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan would require prior approval of Reserve Bank. Such requests are considered by Reserve Bank in consultation with the Government of India.