NRI Buying Agricultural Land

Under the exchange control law, NRIs cannot own an agricultural land in India. However, they may acquire such agricultural land through inheritance from a person residing in India. Accordingly, you may inherit an agricultural land.

Outrightly an NRI is barred from holding agriculture land in India in his own name. But if can only be possible with the permission of Reserve Bank of India. Please give me Rank Five and follow me after reviewing my resume and book a consultation for further discussion and explanation if required.

All requests for acquisition of agricultural land/plantation property/ farm house by any person resident outside India or foreign nationals may be made to The Chief General Manager, Reserve Bank of India, Central Office, Exchange Control Department, Foreign Investment Division (III), Mumbai*Phone*For more information about the same Contact me

Hi, NRIs cannot own agricultural land in India. However, they may acquire such agricultural land through inheritance from a person residing in India. Agricultural land in India can only be sold to a person who is resident in India and not to a non-resident. Income arising from the transfer or use of inherited property in India will be taxable in India. NRIs cannot even acquire such property as a gift. If you find this helpful, please rate us and book a consultation.