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Buying Property
Back to top Back to main Skip to menuIndia - Buying Property
However, if immovable property is taken or given on lease for a period not exceeding five years then the restrictions contained in Section 31 of FERA, 1973 are not applicable to foreign nationals / companies.
Those companies that are permitted to carry on activities in India to acquire or hold any immovable property in India in terms of the general permission are required to submit to Reserve Bank a declaration in form IPI - 5 not later than 90 days from the date of acquisition of the immovable property.
In spite of all efforts if a buyer gets duped, a complaint may be lodged under a Central Act called the Consumer Protection act.1986.
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