Tuesday, 21 April 2009

Whether immovable property in India can be acquired by way of gift ?

  1. Yes, NRIs and PIOs can freely acquire immovable property by way of gift either from i) a person resident in India orii) an NRI oriii) a PIO.However, the property can only be commercial or residential. Agricultural land / plantation property / farm house in India cannot be acquired by way of gift.
  2. A foreign national of non-Indian origin resident outside India cannot acquire any immovable property in India through gift.

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