Foreign Exchange of Regulation Act

Alex Varughese (Querist) 05 August 2011 This query is : Resolved
Foreign citizen but Indian origin ( Not OCI & pio) CAN ALIENATE IMMOVABLE PROPERTY WITHOUT SANCTION OF RESERVE BANK, please let me have provision, orders and rulings etc.

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A V Vishal (Expert) 06 August 2011
How was the property acquired?

M/s. Y-not legal services (Expert) 06 August 2011
Your query need some details sir..

prabhakar singh (Expert) 06 August 2011
yeah ! supply history in detail.

Alex Varughese (Querist) 06 August 2011

foreign citizen but Indian origin having no privilege of OCI and PIO can alienate immovable property in India (Acquired by sale deed while he was citizen and also acquired by Succession)without permission of Reserve Bank of India.

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