When you are looking to purchase villas and plots in Jigani or 3 bhk villas in Jigani, it will be necessary to look into several different aspects, especially so when you are a non-resident individual or a person with Indian origin. Let us go through the details in the following sections.
Purchase of Property at Celebrity Prime Eco Front Jigani and Involved Aspects
There are different legal restrictions depending upon class of person such as someone is of Indian origin, non-resident or resident.
Non-resident | Persons with Indian Origin and Non Resident Indians | Foreign Companies
Non-resident:If you are a foreigner with non Indian origin and you reside outside the country then you will not be allowed to own immovable property within the country. You will only be able to acquire property at Celebrity Prime Eco Front Jigani Bangalore through inheritance from someone who is a resident of this country.
Moreover, such non-resident individuals are not allowed to transfer a property received through inheritance to someone else without taking RBI’s permission.
Persons with Indian Origin and Non Resident Indians: Foreign Exchange Management Regulations and FEMA allow PIOs and NRIs to own any type of immovable property in India. But, they are not allowed to own farm houses, plantation property, and agricultural land.
Foreign Companies: If a foreign company gets the permission to start a branch in India then they can own immovable property within the country if such property will be required for carrying out their business.
But, owing immovable property within the country will not be possible if the foreign company has only established their liaison office in the country.