From correspondents in Tamil Nadu, India, 11:30 PM IST
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.
Most Recent Comments
India is a sovereign nation and TN is just one of its constituent states. This statement of the obvious is well warrnted since elements tend to be forgotten sometimes when problems hot up. Given this elementary fact, it follows there can be serious dangers in indiscriminately allowing a free-for-all approach in permitting foreigners to acquire property. The union govt.and the RBI are supposed to have analyzed policy implications before letting a foreigner acquire ppty.TN, or indeed any state govt.,have no say here and should not use political influences to deflect the decisions from the right methods to arrive at them.
View all comments »