S.20
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Acquisition, Holding, etc. of Immovable Property in Nepal and Bhutan
Indian nationals resident in India and firms/companies registered/incorporated in India are required to obtain permission of Reserve Bank under Section 25 of FERA 1973, to acquire, hold, transfer or dispose of by sale, mortgage, lease (for a period exceeding five years), gift, settlement or otherwise, any immovable property situate in Nepal and Bhutan even though the transactions may be settled in Indian rupees.