Can a NRI acquire agricultural land.??

Q: Hi..Currently i am living in Canada and i am an NRI..i just want to know if i can acquire agricultural land..??

Jijo, Chennai

17th January 2013

Buying property in Chennai

nri

agricultural land

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NRI/PIO cannot acquire agricultural land/plantation/farm house in India by way of purchase.An NRI or a PIO may acquire residential/commercial property by way of gift from a resident of India, an NRI or a PIO. residential Flats for Sale in Pune

anil patil, Pune

16th February 2017

Comment

No According to the Foreign Exchange Management Act, NRIs and PIOs can acquire immovable property in India. However, investment in agricultural property, plantation and investment in farmhouses are prohibited. You can buy residential and commercial property. There are a lot of NRIs investing in Gurgaon of late, there are interesting projects there. The best of developers that provide unprecedented NRI services are now building properties there, such as Mahindra lifespaces and likes of them.

shyam s,

24th December 2015

Comment

Hi Jijo...NRI can only acquire agricultural land if they get specific approval from Reserve Bank and the proposal is considered in consultation with the Government of India.

shilpa, Noida

18th January 2013

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