Shapoorji Pallonji Real Estate

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Legal information for NRIs with frequently asked questions about
property transactions in India.

Shapoorji Pallonji Real Estate

Legal information

Sale Reserve Bank of India has given permission to foreign citizens of Indian origin to sell a property. However, wherever the property is purchased, the funds towards the purchase consideration should be either remitted to India or the paid out of balances in NRE/FCNR accounts.

Renting Reserve Bank of India permits you to rent out any immovable residential/commercial property in India. The rental income or proceeds of any investment of such income are eligible for repatriation.

Finance You can either pay through rupee-denominated NRO or NRE and FCNR accounts. Loans are readily available and can be taken from any Indian bank within India, or from a branch of any Indian bank in your country of residence.

Formalities Within 90 days from the date of purchase, you will need to file a declaration in the prescribed form with Central Office of Reserve Bank at Mumbai. You can also submit a final payment of purchase consideration along with a certified copy of a document evidence of transaction and the bank certificate of the consideration paid.

Documentation Passport, proof of residence and PAN card.

Shapoorji Pallonji Real Estate

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