Frequently Asked Questions

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A person who has acquired the property U/s 6(5) of FEMA or his successor cannot repatriate the sale proceeds of such property without RBI approval. However, repatriation up to USD 1 million per financial year is allowed, along with other assets under (Foreign Exchange Management (Remittance of Assets) Regulations, 2016) for NRIs/PIOs and a foreign citizen (except Nepal/Bhutan/PIO) who has (a) inherited from a person referred to in section 6(5) of FEMA, or (b) retired from employment in India or (c) is a non-resident widow/widower and has inherited assets from her/his deceased spouse who was an Indian national resident in India. NRIs/PIOs can remit the sale proceeds of immovable property (other than agricultural land/farmhouse/plantation property) in India subject to the following conditions:

As per section 2(ze) of FEMA transfer means, sale, purchase, exchange, mortgage, pledge, gift, a loan, or any other form of transfer of right, title, possession, or lien.


  • Notification No. FEMA 65/2002-RB dated June 29, 2002
  • Notification No. FEMA 93/2003-RB dated June 9, 2003
  • Notification No. FEMA 146/2006-RB dated February 10, 2006
  • Notification No. FEMA 186/2009-RB dated February 3, 2009
  • Notification No. FEMA 200/2009-RB dated October 5, 2009
  • Notification No. FEMA 321/2014-RB dated September 26, 2014
  • Notification No. FEMA 335/2015-RB dated February 4, 2015

Citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, Bhutan, Macau or Hong Kong, irrespective of their residential status, cannot, without prior permission of the Reserve Bank, acquire or transfer immovable property in India, other than on lease, for no more than five years.

  • Purchase (other than agricultural land/farmhouse/plantation, etc) from Resident/NRI Resident/NRI
  • Acquire as gift (other than agricultural land/farmhouse/plantation, etc) from Resident/NRI/PIO/Resident/NRI/PIO
  • Acquire (any IP) as an inheritance from (a) Any person who has acquired it under laws in force (b) under section 6(5) iii of FEMA
  • Sell (other than agricultural land/farmhouse/plantation etc) to Resident/NRI/PIO Resident
  • Sell (agricultural land) to Resident Resident who is a citizen of India
  • Gift (other than agricultural land) to Resident/NRI/PIO Resident/NRI/PIO
  • Gift (agricultural land) to Resident Resident who is a citizen of India
  • Gift residential/commercial property to Resident/NRI/PIO Resident/NRI/PIO

Foreign Embassy/Diplomat/Consulate General, can purchase/sell immovable property (other than agricultural land/plantation property/farmhouse) in India provided –

Payment for immovable property has to be received in India and is subject to payment of all taxes and other duties/levies in India. The payment should be received in the form of funds remitted to India through banking channels or through funds held in NRE/FCNR(B)/NRO accounts of the NRIs/PIOs. Payments should not be made through travellers’ cheque and foreign currency notes. NRIs/PIOs can avail of housing loan in Rupees from an Authorized Dealer or housing finance institution in India subject to conditions.