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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. | |
