Answers ( 7 )

  1. NRI is Non-Resident Indian who holds Indian Citizenship and lives abroad for employment or business. An NRI is someone who resides in India for less than 182 days during the course of the preceding financial year. So here we are clear on who are NRIs, now let us talk about can NRI buy agricultural land in India or not.

    Can NRI purchase agricultural land in India?

    According to the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations NRIs CANNOT buy agricultural land in India.

    NRIs are allowed to buy commercial and residential properties however they are not allowed to buy plantation lands or farmhouses in India. But if they wish to buy agricultural land special permission from the RBI must be obtained. 

    NRIs with an intention to buy agricultural land must write and request permission from the Chief General Manager of RBI and post it at the address given below:

    The Chief General Manager, 

    Reserve Bank of India, 

    Central Office, Exchange Control Department, Foreign Investment Division (III), 

    Mumbai: 400 001

     

    I hope you have your answer now on can NRI buy agricultural land in India or not.

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    Read more

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  2. “Can NRI buy agricultural land in India” is a common query among NRIs. Well, let me tell you that according to FEMA Regulations, NRIs are not allowed to purchase any farmhouse or plantation property or agricultural land in India by law unless they obtain special permission from RBI. The RBI will consider the request on a case-to-case basis. Now that you know an answer to “can NRI purchase agricultural land in India”, let’s read about the inheritance of agricultural land for NRIs:

    An NRI cannot directly purchase a farmhouse, plantation property, or agricultural land in India but they are allowed to inherit it from a resident of India. NRIs are also allowed to inherit such properties from other NRIs subject to certain regulations like special permission from the Reserve Bank of India.

    Gift of Agricultural Land to NRIs and vice versa

    Gift of Property Regulation
    NRI to NRI gift of property No; Can’t be gifted
    NRI to Resident Indian gift of property Yes; Can be gifted
    Resident Indian to NRI gift of property Yes; Can be gifted

     

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    Read more:

    Why should NRIs invest in India

    Can NRI avail of property loan in India

    How can an NRI buy properties in India

    I hope I cleared all your doubts regarding the NRI buying agricultural land in India.


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    • You must be wondering about can NRI purchase agricultural land in India. NRIs have a different set
    • of rules when it comes to financial interests and real estate ownership. Agricultural land, plantation
    • holdings, and farmhouse transactions are governed by standards that differ from those that apply to
    • residential and commercial property purchases. If you're an NRI or an OCI, you can't buy agricultural
    • land, plantation property or farmhouses in India unless you get special approval from the Reserve
    • Bank of India (RBI). The answer to the question, can NRI buy agricultural land in India, is simple.
    • NRI Agricultural Land Inheritance
    • You can inherit farmland, plantation property, or a farmhouse from a family member who lives in
    • India if you're an NRI or OCI. It is possible for an NRI to receive property as an inheritance from a
    • family member who is not an NRI. However, this is subject to rules like the clearance of the RBI. Gifts
    • of agricultural land, plantation property, or a farmhouse from an Indian citizen are not restricted to
    • NRIs or OCIs.
    • Purchase and Sale of Agricultural Land
    • Agricultural land, plantations, or farmhouses can be sold to Indian citizens or residents of India by
    • NRIs. If the RBI has given the NRIs authorization to buy these lands, RBI approval is needed to finalise
    • the selling transaction.
    • I have answered your queries regarding NRI buying agricultural land in India and questions like Can
    • an NRI buy agricultural land in India.

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  3. You may be interested to know about NRI buying agricultural land in India. Can an NRI, however,

    purchase land in India for agricultural purposes? Agricultural-land or plantation property or

    farmhouses cannot be purchased in India by either NRIs or OCIs without special permission from the

    Reserve Bank of India. Unless the other person is a spouse, brother, sister, or lineal ascendant or

    descendant, an NRI cannot purchase agricultural land in the name of another individual in India.

    Questions like can an NRI buy agricultural land in India regularly pop up in mind of NRIs. A farm or

    plantation property in India cannot be purchased by an NRI or OCI directly, although it can be

    inherited from a Resident Indian. Depending on the circumstances, an NRI may be able to inherit

    such property from another NRI with the use of specific permits granted by the Reserve Bank. So you

    have found out the answer to the question, can NRI buy agricultural land in India.


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  4. If you want to invest in real estate properties in India, then it is really a great idea as the constructions are developing widely across the country. Several NRIs are working abroad in various countries but they have their families living in India. So that is the reason they want to invest in commercial, residential and agricultural properties in India for better future returns and a place to live when they come to India. I also wanted to purchase agricultural land in India 2 years ago, but I couldn't because it’s not allowed to purchase land by NRIs due to some legal reasons and restrictions. Let’s see can NRI buy agricultural land in India.

    Can NRI purchase agricultural land in India?

    As per the Foreign Exchange Management Act and the Foreign Exchange Management Regulations 2018, NRI cannot purchase any agricultural land, farm house or plantation properties as per the rule of respected government unless they get a special permission from RBI. They can only purchase commercial and residential properties as per the rule of government. When an NRI is unable to travel India to buy the property, a person with a legal power of attorney must do it on his or her behalf and there is no limit of buying properties for them. 

    Agricultural Land Transfer for Non-Resident Indians

    NRI can acquire agricultural property, farm house or plantation property by transferring the property to their name from the person residing in India and from the other NRI person. But this also has some regulations and needs RBI’s approval to process the application of transfer.

    Agriculture land as a gift

    NRI can get agricultural land, plantation property and farm houses as a gift from the residents of India, but you just have to consider the Benami Act. The Benami Act states that an NRI has to gift the desired property to the resident of India not to the other NRI. 

    What will happen if NRI buy agricultural land in India?

    You can’t buy agricultural land legally in India and if you do so, you may face some legal actions, seal of the property and other legal problems as per the rule of India. So you shouldn’t buy any agricultural land in your name if you are an NRI.

    You would have understood the query about can NRI buy agricultural land in India.

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    Read More:

    How can an NRI buy a property in India?

    What kind of property can NRI buy in India?


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    Best answer
  5. So you must be an NRI who wants to buy agricultural property in India. Do you want to own a cottage in India where you can spend quality time with your friends and family? So you must know whether NRI can buy agricultural land in India or not.

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    Can NRI buy farm land in India?

    The Reserve Bank of India's laws allows an NRI to purchase property in India. They do not have the right to get the NRI agricultural land ownership. NRIs can only purchase residential and commercial property in India. It is, however, allowed under certain criteria, and NRI property investments in India will be subject to taxes. When it comes to the purchase of agricultural land by an NRI (non-resident Indian), the outcome is going to be a loud NO as per all the above answers.

    NRI’s right to inherit agricultural land from an Indian citizen:

    Luxurious apartments may not appear to be appropriate places to call home to you. So you must be thinking of building your own home from the ground up, to your specifications. This is where NRI agricultural land purchases come into play. Many NRIs are eager to invest in open land due to the slowdown in urban real estate and the possibility of better long-term earnings.

    You as an NRI cannot purchase agricultural land but you can inherit it. NRIs can inherit agricultural land, farmhouses, or agricultural property from a Resident Indian without breaking any RBI laws. You must seek special permits from the RBI authorities in order to inherit such land.

    The query about whether NRI can buy agricultural land in India must be clear to you now.

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    Read More:

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  6. The real estate industry in India is booming right now and In India, everyone desires to purchase some assets for their future security. Even NRI wants to invest in the real estate industry in India. Because of high demands, the Government of India has made some guidelines for NRIs willing to purchase land in India. Let us understand if NRI can buy agricultural land in India.

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    NRI can invest in residential property and commercial property. As per the Income Tax Act of India, NRIs can also avail of tax exemption by purchasing property in India. But when it comes to NRI agricultural land ownership it is very hard to purchase agricultural land. Not only NRI, but any person residing in India also cannot purchase agricultural land if they are not a farmer. India generates a large amount of revenue by exporting crops to different countries which is why agricultural land is highly valuable in India. With flexible rules and regulations, it won’t be possible for India to initiate farming and grow crops. 

    I will try to give you a solution to your query ‘ can NRI buy farm land in India?’ But as mentioned by Mr Siddharth and Ms Punam, as an NRI you can buy agricultural land after obtaining special permission from RBI. As an NRI, you must have the vision to help India grow in the agricultural industry and then only you can try to purchase agricultural land in India. 

    I hope you get the gist regarding the question ‘if NRI can buy agricultural land in India?’

    Read more:

    Can NRI Sell Property In India Without Physical Presence?

    How Can An NRI Make A Rental Agreement?


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