Q.1. Can an NRI/ PIO/foreign national sell his residential / commercial property?
A.1. (a) NRI can sell property in India to-
i. a person resident in India or
ii. an NRI or
iii. a PIO.

(b) PIO can sell property in India to
i. a person resident in India
ii. an NRI or
iii. a PIO - with the prior approval of Reserve Bank

(c) Foreign national of Non-Indian origin including a citizen of Pakistan or Bangladesh or Sri Lanka or Afghanistan or China or Iran or Nepal or Bhutan can sell property in India with prior approval of Reserve Bank to
i. a person resident in India
ii. an NRI
iii. a PIO


Q.2. Can a Non-resident gift his residential / commercial property?
A.2. Yes. NRI / PIO may gift residential / commercial property to -
i. Person resident in India or
ii. an NRI or
iii. PIO.

(b) Foreign national of Non-Indian origin needs prior approval of Reserve Bank.


Q.3. Can residential / commercial property be mortgaged?
A.3. i) NRI / PIO can mortgage to:
(a) an authorized dealer / housing finance institution in India - without the approval of Reserve Bank.

(b) a party abroad - with prior approval of Reserve Bank.
ii) a foreign national of Non-Indian origin can mortgage only with prior approval of Reserve Bank
iii) a foreign company which has established a Branch Office or other place of business in accordance with FERA/FEMA regulations has general permission to mortgage the property with an authorized dealer in India.