Hi, you can give the property to your wife or son as a gift and they can sell the property to any body.

1. Yes you can gift the property to your wife and son.

2. However it is subject to the Master Circular as published by RBI and reproduced below.

" Master Circular on Acquisition and Transfer of Immovable Property in India

by NRIs/PIOs/Foreign Nationals of Non-Indian Origin

Acquisition and transfer of immovable property in India by NRIs / PIOs / Foreign Nationals of Non-Indian Origin is regulated in terms of Sub-sections (3), (4) and (5) of Section 6 of the Foreign Exchange Management Act, 1999 read with Notification No. FEMA 21/2000-RB dated May 3, 2000. The regulatory framework and instructions issued by the Reserve Bank in this regard have been compiled in this Master Circular. The list of underlying circulars/notifications is furnished in Appendix.

2. This Master Circular may be referred to for general guidance. The Authorised Dealer Category – I banks and Authorised banks may refer to respective circulars / notifications for detailed information, if so needed.

3. This Master Circular is being updated from time to time as and when the fresh instructions are issued. The date up to which the Master Circular has been updated is suitably indicated."

1)Acquisition of immovable property in India by persons resident outside India (foreign national) is regulated in terms of section 6 (3) (i) of the Foreign Exchange Management Act (FEMA), 1999 as well as by the regulations contained in the Notification No. FEMA 21/2000-RB dated May 3, 2000, as amended from time to time.

2)A foreign national of non-Indian origin resident outside India cannot acquire any immovable property in India by way of gift.

3) foreign national can sell property in india with RBI approval

1. You are a citizen of India, but your wife and children are not.

2. A foreign national of non-Indian origin who is resident outside India cannot purchase any immovable property in India unless such property is acquired by way of inheritance from a person who was resident in India. However, he / she can acquire or transfer immovable property in India, on lease, not exceeding five years. In such cases, there is no requirement of taking any permission of /or reporting to the Reserve Bank.

3. With the prior permission of the RBI, an NRI and a PIO can freely purchase immovable property in India. This permission covers purchase of residential and commercial property only. All foreign nationals, NRIs and PIOs are not permitted to purchase agricultural land, plantation property and/or a farmhouse in India unless they have obtained specific approval from the RBI and the proposal is considered in consultation with the Government of India. However, once general permission from the RBI has been obtained there is no restriction to the number of residential and commercial property that an NRI or PIO can purchase.

1. Your son and wife are not the citizen of india,

2. They are not even the PIOs,

3. They can not own any immoveable property by way of gift in India.