This is Rajesh, I want to know about the RBI guideline for Sale of property. I am resident of srilanka, but I have assests (Land & property) in india. Now I want to sell my indian property. If need any special permission for Property selling from RBI. Please advice and any notification is applicable. Please share.
10 November 2023
Sir, Thanks for your reply. If any notification is available for without prior permission. Why because based on the below RBI notification the prior permission is must for acquire or transfer, Please explain.
RBI/FED/2015-16/7 FED Master Direction No. 12/2015-16 January 1, 2016 [Updated as on June 6, 2022] [Updated as on April 11, 2018] [Updated as on February 4, 2016*]
- Prohibition on acquisition or transfer of immovable property in India by citizens of certain countries 309.1 Citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, Bhutan, Macau, Hong Kong and Democratic People’s Republic of Korea cannot, without prior permission of the Reserve Bank, acquire or transfer immovable property in India
CAclubindia
