Relates to:
nri, non resident indian, non resident gujarati, NRGs, gujarati, government of gujarat, gandhinagar, government of india , FERA, indian citizens, origin of gujarat, indian origin, chief minister of gujarat, social and cultural, technical and professional skills, keshubhai patel, nri division, legal and tax guide, general administration department, ahmedabad, india, gujarat...
About http://www.nri-gujarat.com/investrep.htm:
Main Objectives - To study the social and cultural problems, survey and assess the techinical and professional skills, to create a database of the NRI of gujarat origin and many more......
Description:
INVESTMENT IN IMMOVABLE PROPERTIES WITH REPATRIATION BENEFITS Investment by NRIs in immovable properties in India did not carry repatriation benefits until May, 1993. The Reserve Bank of India (RBI), has since permitted Non Resident Indian Nationals and Foreign Nationals of Indian origin to invest in any immovable property (either residential or commercial), with repatriation benefits. The benefit of repatriation can be availed of by the investor subject to the following conditions: The purchase consideration is met through foreign exchange remittances or out of NRE / FCNR A/c balances. The investor has, submitted a Declaration in Form IPI -7 to the RBI within 90 days from the date of acquisition of the property indicating the relevant particulars of the investment. The sale takes place after 3 years from the date of acquisition or from the date of payment of final instalment of the consideration amount, whichever is later. The repatriation will be allowed to the extent of the consi...