Who do not need permission to transfer properties in India? : RealLex My Portal

Who do not need permission to transfer properties in India? Print

Created by: Reallex Admin

Modified on: Mon, 12 May, 2014 at 5:32 PM

NRIs have general permission to sell or gift immovable properties of residential or commercial nature to person resident in India or NRI or PIO. They can sell or gift agricultural land /plantation property/farm house to a person resident in India who is a citizen of India. NRIs can mortgage their property with Indian banks and can also rent out their property.

PIOs have general permission to sell immovable properties of residential or commercial nature to person resident in India or NRI. They can sell or gift agricultural land /plantation property/farm house to a person resident in India who is a citizen of India. They can gift to a person resident in India or NRI or PIO. PIOs can mortgage their property with Indian banks and can also rent out their property.

The branch office of a foreign company have a general permission to mortgage property with an authorized dealer

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