Prohibition on transfer of immovable property in India

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..... the Act or Regulations, no person resident outside India shall transfer any immovable property in India:- Provided that the Reserve Bank may, for sufficient reasons, permit the transfer, subject to such conditions as may be considered necessary. 1 [Provided further that a bank which is an authorised dealer may, subject to the directions issued by the Reserve Bank in this behalf permit a pe .....

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