Q:My client is Indian with British Pass port. He would like to buy residential and commercial property in Mumbai. Cost of Residential property is about 5 Cr. and commercial will also be in the same range or little more than that. Are there any restrictions or additional formalities for buying and registration.
Latest Answer: Except agricultural land, a person of Indian origin (PIO) can buy property in India. All the payments should be made through money held in NRE NRO accounts or through normal banking channels.
