|
Category
|
Funds
Invested
|
Permission
Required
|
Repatriation
|
Type
of property
|
| Foreign
Citizen of Indian Origin |
Foreign
funds i.e. Foreign exchange remitted through normal banking channelsor
funds withdrawn from NRE/FCNR A/Cs |
No
prior permission from RBI required. Declaration
form IPI 7 to be submitted
to the RBI within 90 days of purchase of the property |
Repatriation
of original investment in equivalent foreign exchange is permitted
after RBI's prior approval subject to certain conditions Property
should have been purchased after 26thMay,1993 |
Residential
or Commercial but not agricultural land or farm house or plantation
properties |
| Foreign
Citizen of Indian Origin |
Investment
from local funds |
Prior
permission from RBI required. Apply in
form IPI 1 |
No
Repatriation of investment
allowed. Repatriation of rental income if any is allowed. |
Residential
and not commercial or farmhouse or agricultural land or plantation
property |
| Foreign
Citizens of Non Indian origin |
Can
only invest through funds remitted from abroad |
Prior
permission from RBI required. Apply in
form IPI 1 |
No
repatriation allowed.
|
Residential
and not commercial or farmhouse or agricultural land or plantation
property |
| Indian
citizens not resident in India |
Foreign
funds ie. Foreign exchange remitted through normal banking channels
or funds withdrawn from NRE/FCNR A/Cs |
No
prior permission from RBI required. Declaration
form IPI 7 to be submitted
to the RBI within 90 days of purchase of the property if they wish
to avail of repatriation at a later date. |
Repatriation
of original investment in equivalent foreign exchange is permitted
after RBI's prior approval subject to certain conditions. Property
should have been purchased after 26th May, 1993
|
Residential
or Commercial but not agricultural land or farm house or plantation
properties |
