NRIs, irrespective of their citizenship can freely acquire and transfer residential as also commercial properties in India barring agricultural land and plantation, with repatriatibility of foreign exchange equivalent of cost of acquisition (maxi.two in case of resi.houses) and no restrictions as regards holding period.
Rules for Acquisition & Transfer by NRIs being:
Indian Citizens & Foreign Citizens
Mode of Payment
Joint Holding / Restrictions
Repatriation of Sale Proceeds
Taxation of Capital Gains & Wealth-Tax
Each of these subjects are explained in simple language together with:
01 Copy of relevant Section / Regulation of the Act.
02 Copy of relevant Notification, Circular or Press Release.
03 An example in case of intricate provisions.