Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) (Amendment) Regulations, 2015.

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..... Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) (Amendment) Regulations, 2015 G.S.R. 120(E).- In exercise of the powers conferred by clause (i) of sub-section (3) of Section 6 , and sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) , the Reserve Bank of India hereby makes the following amendment in the Foreign Ex .....

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..... perty in India by citizens of certain countries No person being a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, Bhutan, Macau or Hong Kong without prior permission of the Reserve Bank shall acquire or transfer immovable property in India, other than lease, not exceeding five years. C. D. SRINIVASAN, Chief General Manager Foot Note : The Principal Regul .....

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