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NRIs & Agricultural Property

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NRIs & Agricultural Property

Last updated: September 1 2007
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  • NRIs & Agricultural Property

    Hello,

    I have a question about agricultural property acquisition in India as an NRI. Typically I know this is not permitted. However, my Father has inherited agricultural land through his Father. He now wishes to do some agricultural land purchasing in India.

    I read here http://www.nrirealtynews.com/nri-pro...f-property.php that if you've inherited agricultural land, like my Father, you must inform the RBI.

    Questions:

    1. If we inform the RBI, will they confiscate the land as we are not Indian Citizens any more and are NRIs?

    2. How do people with inherited agricultural land hold on to it legally?

    3. Are there any ways of purchasing agricultural land being an NRI?

    Any help and advice is appreciated. Many thanks.

    ~A
  • #2

    #2

    Re : NRIs & Agricultural Property

    Hi,

    You're right about NRIs and persons of Indian origin not being able to purchase agricultural property in India.
    Sorry Ashe, but the RBI does not permit NRIs and PIOs the acquisition of agricultural land / plantation property / farm house in India by way of gift, and there is no way a foreign national of Indian origin can purchase such property in India.

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    • #3

      #3

      Re : NRIs & Agricultural Property

      Originally posted by AsheGoodman View Post
      Hello,

      I have a question about agricultural property acquisition in India as an NRI. Typically I know this is not permitted. However, my Father has inherited agricultural land through his Father. He now wishes to do some agricultural land purchasing in India.

      I read here http://www.nrirealtynews.com/nri-pro...f-property.php that if you've inherited agricultural land, like my Father, you must inform the RBI.

      Questions:

      1. If we inform the RBI, will they confiscate the land as we are not Indian Citizens any more and are NRIs?

      2. How do people with inherited agricultural land hold on to it legally?

      3. Are there any ways of purchasing agricultural land being an NRI?

      Any help and advice is appreciated. Many thanks.

      ~A
      There are legal ways to get across this problem, provided you have time and trusted people in INDIA.

      Comment

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