RBI Approval for buying properties

Here are a few information about whether Reserve Bank Of India’s Approval are required for Buying properties

Non Resident Indians (NRI)

1. Residential Purpose- No RBI Approval Required
2. Commercial Purpose- No RBI Approval Required

Foreign Citizen of Indian Origin

1. Residential Purpose- No Prior approval required but you have to intimate the RBI through form IPI-7
2. Commercial Purpose- No Prior approval required but you have to    intimate the RBI through form IPI-7

Non-Indian Citizens of foreign origins (Foreigners)

1. Residential Purpose – RBI Approval Required
2. Commercial Purpose- RBI Approval Required

Hope this information provided by MARG was useful. We will get back to you with more useful posts.