FEMA Regulations: Acquisition and Transfer of Immovable Property in India

As per FEMA regulations, an NRI can hold immovable property in India for a maximum period of 10 years from the date of acquisition.

As per FEMA regulations, foreign currency is not a permissible mode of payment for the acquisition of immovable property in India by a person resident outside India.

As per FEMA regulations, an NRI can remit a maximum of $100,000 outside India for the purchase of immovable property.

As per FEMA regulations, Form FC-TRS (Transfer of Resident Shares) is required to be submitted to the RBI for the acquisition of immovable property in India by a person resident outside India.

As per FEMA regulations, an application for the acquisition of immovable property in India by a person resident outside India should be made to the RBI within 90 days from the date of the agreement to purchase the property.

As per FEMA regulations, agricultural land is not a permissible purpose for the acquisition of immovable property in India by a person resident outside India.

As per FEMA regulations, a foreign citizen can hold immovable property in India for a maximum period of 5 years from the date of acquisition.

As per FEMA regulations, foreign currency is not a permissible mode of payment for the acquisition of immovable property in India by a foreign citizen.

As per FEMA regulations, a foreign citizen can remit a maximum of $100,000 outside India for the purchase of immovable property.

As per FEMA regulations, Form FC-GPR (General Permission Report) is required to be submitted to the RBI for the acquisition of immovable property in India by a foreign citizen.

As per FEMA regulations, an application for the acquisition of immovable property in India by a foreign citizen should be made to the RBI within 60 days from the date of the agreement to purchase the property.

As per FEMA regulations, agricultural land is not a permissible purpose for the acquisition of immovable property in India by a foreign citizen.

As per FEMA regulations, a PIO can hold immovable property in India for a maximum period of 15 years from the date of acquisition.

As per FEMA regulations, foreign currency is not a permissible mode of payment for the acquisition of immovable property in India by a PIO.

As per FEMA regulations, a PIO can remit a maximum of $200,000 outside India for the purchase of immovable property.