Priyanka Group offers designs for every lifestyle at true values in the most desirable communities. We are dedicated to providing the customer service you deserve before, during and after the sale. Our continuing loyalty to our customers, combined with our distinguished reputation, creates an unrivaled demand for our Homes, Shops and Offices.
Acquisition and Transfer of Immovable Property in India by a Person Resident outside India
Acquiring immovable property in India by persons resident outside India is regulated in terms of Section 6(3) (i) of the Foreign Exchange Management Act (FEMA), 1999 as well as by the regulations contained in Notification issued by RBI via Notification No FEMA. 21/2000-RB dated May 3, 2000, as amended from time to time. The person’s resident outside India are categorized as Non- Resident Indians (NRIs) or a foreign national of Indian Origin (PIO) or a foreign national of non-Indian origin. A person resident in India who is not a citizen of India is also covered by the relevant Notifications.
FAQ (Frequently Asked Questions)
Q. Who can purchase immovable property in India?
Can NRI / PIO, avail of housing loan in rupees from an authorized dealer or housing finance institution in India approved by the National Housing Bank for purchase of residential accommodation or for the purpose of repairs / renovation / improvement of residential accommodation ? How can such loan be repaid?