‘Foreigners need RBI nod to buy property in Tamil Nadu’

July 6th, 2008 - 12:32 am ICT by IANS  

Chennai, July 5 (IANS) The Tamil Nadu government Saturday said citizens of eight countries, including Sri Lanka and Pakistan, would need the Reserve Bank of India’s (RBI) clearance before buying property in the state. The clarification came following media reports that the state government was stopping Sri Lankan Tamils from buying property in Tamil Nadu.

The directive also covers citizens of Bangladesh, Afghanistan, China, Iran, Nepal and Bhutan.

The government statement Saturday said it was only following the directives of the RBI and the union government.

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