Commercial Property Management

Commercial property is a term that includes company property (e.g. office buildings), industrialized property, medical centers, hotels, malls, retail stores etc. Commercial property is intended to be operated at a profit, either from the gains of capital or rental income. At Indiahousing, you're provided with in-depth information about Commercial Property Management.

The Foreign Exchange Department Foreign Investment Division of the Government of India has furthered a resolution regarding the Acquisition and Transfer of Immovable Property in India by a person Resident outside India. This embraces both residential as well as commercial property. A common inquiry relates to: Can a foreign national of non-Indian origin resident outside India acquire commercial property in India by way of gift? This is forbidden under section 2(ze) of the Foreign Exchange Management Act, 1999. "Transfer" includes among others, "gift". Therefore, a foreign national of non-Indian origin resident outside India cannot acquire commercial property in India by way of gift.

Article 32 states that an NRI / PIO may repatriate the sale proceeds of commercial property in India acquired by way of inward transmittal through normal banking channel or by debit to NRE /FCNR (B) account. The amount to be repatriated should not exceed the amount paid for acquisition of the property. Repatriation can also occur in terms of gifts, permission or mortgage. To learn all about Commercial Property Management, browse Indiahousing.