Foreign naturals buying immovable property illegally
Centre has sounded warning to State governments over reports that foreign nationals are buying immovable property illegally in some parts of the country in violation of the rules and regulations under FEMA.
In a recent letter to State governments including Orissa, Centre has intimated that foreign nationals coming to India and staying beyond 182 days on tourist’s visa or other visa meant for a certain period are illegally acquiring immovable property.
Quoting the warning, Orissa revenue secretary Dr Taradatt in a letter to all district collectors early this week wrote that a foreign national who is residing in India for more than 182 days for taking up employment or carrying on business or for any other purpose indicating his stay for uncertain period may acquire immovable property in India subject to fulfilling certain requirements prescribed by the State authorities.
This warning regarding buying of properties illegally has come to authorities all of a sudden. They have to take steps which will help them in relieving from any of these problems. This is why the authorities are discussing to take action.
Source: The Indian Express
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