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RESERVE BANK OF INDIA
Foreign Exchange Department
Central Office
Mumbai- 400 001
Notification No. FEMA. 335/2015-RB
Dated February 04, 2015
Foreign Exchange Management (Acquisition and Transfer of Immovable
Property in India) (Amendment) Regulations, 2015
In exercise of the powers conferred by clause (i) of sub-section (3) of
Section 6, and sub section (2) of Section 47 of the Foreign Exchange Management
Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following
amendment in the Foreign Exchange Management (Acquisition and Transfer of
Immovable Property in India) Regulations, 2000 (Notification No. FEMA. 21/
2000-RB dated May 3, 2000), namely:-
2. Short title and commencement
(i) These Regulations may be called the Foreign Exchange Management (Acquisition
and Transfer of Immovable Property in India) (Amendment) Regulations, 2015.
(ii) They shall come into force from the date of their publication in the
Official Gazette.
3. Amendment of the regulations
In the Foreign Exchange Management (Acquisition and Transfer of Immovable
Property in India) Regulations, 2000 (Notification No. FEMA 21/2000-RB dated May
3, 2000), the existing regulation 7 shall be substituted by the following
namely:
“7. Prohibition on acquisition or transfer of immovable property in India by
citizens of certain countries
No person being a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan,
China, Iran, Nepal, Bhutan, Macau or Hong Kong without prior permission of the
Reserve Bank shall acquire or transfer immovable property in India, other than
lease, not exceeding five years.”
(C D Srinivasan)
Chief General Manager
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