Form IPI

( See Regulation 5 )

Declaration of immovable property acquired in India by a person resident outside India who has established in India a branch, office or other place of business, excluding a liaison office

Instructions:

1. The declaration should be completed in duplicate and submitted directly to the Chief General Manager, Foreign Exchange Department, (Foreign Investment Division), Reserve Bank of India , Central Office , Mumbai – 400001 within 90 days from the date of acquisition of the immovable property.
2. This form is not to be submitted by a person resident outside India who is a citizen of India or a Person of Indian Origin (PIO) acquiring immovable property in India under General Permission in accordance with Regulations 3 and 4 of Notification No. FEMA 21/2000-RB dated May 3, 2000.
Documentation:
Certified copies of letter of approval from Reserve Bank obtained under section 6(6) of FEMA, 1999 (42 of 1999).
1
Full name and address of the acquirer who has acquired the immovable property
2
(a)
Description of immovable property
(a)
(b)
Details of its exact location stating the name of the state, town and municipal/survey number, etc
(b)
3
(a)
Purpose for which the immovable property has been acquired
(a)
(b)
Number and date of Reserve Bank’s permission , if any
(b)
4
Date of acquisition of the immovable property
5
(a)
How the immovable property was acquired i.e. whether by way of purchase or lease
(a)
(b)
Name , citizenship and address of the seller/lessor
(b)
(c)
Amount of purchase price and sources of funds
(c)
I/ We hereby declare that-
(a) the particulars given above are true and correct to the best of my/our knowledge and belief;
(b) no portion of the said property has been leased /rented to, or is otherwise being allowed to be used by, any other party.
Encls: ---- ---------------------------------
(Signature of Authorised official)
Stamp
Place: ------- Name:------------------------------
Date:-------- Designation:---------------------