FDI

siva kumar (Querist) 01 December 2010 This query is : Resolved
Dear Members

Pl any one can clarify whether a foreign direct investment company registered in India can buy and sell the properties in INDIA?

Regards
Siva

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adv. rajeev ( rajoo ) (Expert) 01 December 2010
I think it can be

R.Ramachandran (Expert) 01 December 2010
FDI is prohibited in real estate business, or construction of farm houses.
According to RBI's Master Circular, 'real estate business' does not include development of townships, construction of residential / commercial premises, roads or bridges, educational institutions, recreational facilities, city and regional level infrastructure, townships.
But since the activities indicated by you does not fall under any of the above exceptions, it will fall under 'real estate business' and as such would not be permitted to engage in.

siva kumar (Querist) 01 December 2010
Thank You Sir

Can you please inform the RBI master circular No. and date.

Regards

R.Ramachandran (Expert) 01 December 2010
Visit RBI Website. Then 'Notification', then 'Master Circulars'

Khaleel Ahmed Mohammed (Expert) 01 December 2010
Yes the company can purchase property and sell property.

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