I am an OCI holder (UK citizen) and living in India over last one year. Am I allowed to buy agricultural land in Tamilnadu?
What are the rule I need to comply? Do I need to get any clearance from RBI, etc.?
Kind Regards
Raj
Nagarajan Periasamy 13 May 2023
I am an OCI holder (UK citizen) and living in India over last one year. Am I allowed to buy agricultural land in Tamilnadu?
What are the rule I need to comply? Do I need to get any clearance from RBI, etc.?
Kind Regards
Raj
T. Kalaiselvan, Advocate (Advocate) 14 May 2023
A NRI or an OCI or a foreign citizen cannot purchase agricultural land in India for whatever the reasons you may state here.
OCI card holders can purchase residential and commercial properties in India. But they are not permitted to purchase agricultural land, including farmland or any kind of plantation property.
Nagarajan Periasamy 14 May 2023
Can a OCI holder register a limited company with Indian citizen (on equal partnership) and allowed to buy agricultural land in the company name?
Member Strength 9,47,930 and growing..
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
