Agriculture land purchase by NRI

Querist : Anonymous (Querist) 17 June 2010 This query is : Resolved
Please Tell What is the position for agriculture land purchase by NRI (Having British PAssport) in punjab.
Can he purchase land?
Is it possible to execute a will of land in Favour of an NRI??

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A V Vishal (Expert) 17 June 2010
PURCHASE= NOT POSSIBLE SINCE THERE IS RESTRICTION UNDER FEMA.

WILL= POSSIBLE

Querist : Anonymous (Querist) 17 June 2010
please elaborate a bit , thanks

A V Vishal (Expert) 17 June 2010
Please follow the link for all clarification given in this regard by the Reserve Bank of India.

http://www.rbi.org.in/scripts/FAQView.aspx?Id=33#1

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