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Monday, June 30, 2008 @ 10:07 in Indian Property, Indian Real Estate

Can a foreigner, i.e. foreign national, purchase immovable property in India?

Question asked by Mr Roger Deakin from USA :

Vatsala,
A question asked from an American was, Can a foreigner ie foreign national, purchase immovable property in India. If your answer was yes by interfacing with RBI for funding the purchase.
Would you please explain what is required.
Regards,
Roger Deakin, USA

Vatsala Answers:

A foreign national cannot purchase property in India. The permission sought from the RBI is being routinely rejected, and therefore my advice is to treat the matter as if it is not possible. Vatsala

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