As per the current foreign exchange regulations prevalent in India, an NRI can acquire immovable property in India either by way of purchase, gift or inheritance, and the said immovable property can either be residential or commercial. However, the property cannot be agricultural land, plantation property or farmland if the acquisition is by an NRI through a sale-purchase or a gift. This restriction will not prevent an NRI from inheriting agricultural land, plantation property or farmland; however, there are certain restrictions imposed on an NRI with respect to dealing with such type of property once inherited.