What are the formalities that are needed to be completed by foreign citizens of Indian origin (PIO) while purchasing residential immovable property in India under general permission?

While purchasing a residential immovable property in India, the foreign citizens of Indian origin are required to file a declaration in form IPI 7 with Central Office of Reserve Bank at Mumbai within 90 days from the date of purchase of that immovable property. They can also submit a final payment of purchase consideration along with a certified copy of document which is an evidence of transaction and the bank certificate of the consideration paid. The legal team of Harbour Greens will assist you in doing the same.

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