Reserve Bank of India vide Notification no. RBI/2014- 15/495 A.P. (DIR Series) Circular No.83 dated March 11, 2015 has also added Macau and Hong Kong as the two Special Administrative Regions of China in the list of countries whose citizens are prohibited to acquire/ transfer immovable property in India in terms of Regulation 7 of Foreign Exchange Management (Acquisition and Transfer of immovable property in India) Regulations, 2000. Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan are the other restricted countries whose citizens are prohibited to acquire/transfer immovable property in India in terms of Regulation 7 of Foreign Exchange Management (Acquisition and Transfer of immovable property in India) Regulations, 2000. No citizens of other countries as mentioned herein above shall without prior permission of the Reserve Bank shall acquire or transfer immovable property in India, other than lease, not exceeding five years.
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