RMC (INDIA) INFRASTRUCTURE LIMITED

FREQUENTLY ASKED QUESTIONS

1. Do NRI's require permission of Reserve Bank to acquire immovable property in India?

2. Do NRI's require permission of Reserve Bank to transfer immovable property in India?

3. Do PIO's require permission of Reserve Bank to purchase immovable property in India for their residential use?

4. In what manner the purchase consideration for the immovable property should be paid by PIO's under the general permission?

5. Can such property be sold without the permission of Reserve Bank?

6. Can sale proceeds of such property if and when sold be remitted out of India?

7. What other facilities are available for repatriation?

8. Can PIO's acquire or dispose of immovable property by way of gift?

9. Can NRI's/PIO's rent out the properties (residential/commercial) if not required for immediate use?

10. Can NRIs obtain loans for acquisition of a house/flat for residential purpose from financial institutions providing housing finance?

11. Can authorised dealer grant loans to NRIs for acquisition of a flat/house for residential purposes?

12. Can authorized dealer grant housing loan to NRI's where he is a principal borrower with his resident close relative as a co-applicant / guarantor or where the land is owned jointly by such NRI borrower with his resident close relative?

13. What are the guidelines for acquisition of agricultural land / plantation property / farmhouse by NRIs and foreign citizens of Indian origin?

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