Can I dispose commercial properties in India?

Ans: Yes. Reserve Bank has granted general
permission to foreign citizens of Indian origin to dispose of
immovable properties other than agricultural land/farmhouse/plantation
property by way of gift from or to an Indian citizen, NRI or
PIO.

Q2). Can such property be sold without the permission
of Reserve Bank?

Ans: Yes. Reserve Bank has granted general
permission for sale of such property. However, where another
foreign citizen of Indian origin purchases the property, funds
towards the purchase consideration should either be remitted
to India or paid out of balances in non-resident accounts maintained
with banks in India.

Photo: A skyscraper in Mumbai from railway station by Nicolas Vigier, licensed under CC0, via Wikimedia Commons.