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Background & Objective As per regulation 7 of Foreign Exchange Management (Acquisition and Transfer of immovable property in India) a person who is a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan is prohibited from acquiring or transferring immovable property in India, other than lease of property upto a period of five years, without taking prior permission from Reserve Bank of India. The said regulation was issued on May 17, 2000. 

Acquisition/Transfer of Immovable Property
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