Acquisition and transfer of property in India by a NRI or an OCI

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..... may - (a) acquire immovable property in India other than an agricultural land or farm house or plantation property: Provided that the consideration, if any, for transfer, shall be made out of : (i) funds received in India through banking channels by way of inward remittance from any place outside India ; or (ii) funds held in any non-resident account maintained .....

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..... sions of the foreign exchange law in force at the time of acquisition by him or the provisions of these rules ;or (ii) from a person resident in India; (d) transfer any immovable property in India to a person resident in India; (e) transfer any immovable property other than agricultural land or farm house or plantation property to an NRI or an OCI. - - statute, st .....

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