Purchase of immovable property in India by Non-Resident Indians and Persons of Indian Origin – Mode of Payment – Clarification

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..... egory - I Authorised Dealer Banks Madam / Sir, Purchase of immovable property in India by Non-Resident Indians and Persons of Indian Origin - Mode of Payment - Clarification Attention of Authorised Dealer Category I (AD - Category I) banks is invited to Regulation No. 3 and 4 of Notification No. FEMA 21/RB-2000 dated May 3, 2000, as amended from time to time. 2. In terms of Regulations 3 .....

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..... ification No. FEMA 146/2006-RB dated February 10, 2006 [Foreign Exchange Management (Acquisition and transfer of immovable property in India) Regulations, 2000] issued in this regard is enclosed. 5. AD - Category I banks may bring the contents of this circular to the notice of their constituents and customers concerned. 6. The directions contained in this Circular have been issued under Sect .....

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