400. Nri has purchased agricultural land in India accidentally . . .

Questions: Dear sir, I am an NRI currently residing outside the country, Accidentally I have bought agricultural land in India for farming purpose. Is there way to handle it lawfully ? What are implication ? Any help on this matter is really appreciated. Thanks in advance for your help. Thanks and Regards, (Name Withheld) Answer: The only suggestion I can offer on this website is, that if you bought the agricultural land without knowing the rules, perhaps you should sell the land in a legal manner to an Indian citizen, who is also living in India. While this may not be applicable to you, quite often, friends, relatives or brokers coax Nri’s to purchase agricultural land and at some point of time take advantage of the fact that the land, cannot be legally owned by Nri’s. This results in fear and anxiety for the non-resident and they normally dispose off the land immediately, at a considerable loss. There are times when Indian citizens who acquired agricultural land before becoming non residents are made to believe by unscrupulous parties that they cannot own agricultural land in India, once they become Nri’s. This is not true. If a non resident already had agricultural land before becoming a non-resident, they can continue to hold such land.
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
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400. Nri has purchased

agricultural land in India

accidentally

Questions: Dear sir, I am an NRI currently residing outside the country, Accidentally I have bought agricultural land in India for farming purpose. Is there way to handle it lawfully ? What are implication ? Any help on this matter is really appreciated. Thanks in advance for your help. Thanks and Regards, (Name Withheld) Answer: The only suggestion I can offer on this website is, that if you bought the agricultural land without knowing the rules, perhaps you should sell the land in a legal manner to an Indian citizen, who is also living in India. While this may not be applicable to you, quite often, friends, relatives or brokers coax Nri’s to purchase agricultural land and at some point of time take advantage of the fact that the land, cannot be legally owned by Nri’s. This results in fear and anxiety for the non-resident and they normally dispose off the land immediately, at a considerable loss. There are times when Indian citizens who acquired agricultural land before becoming non residents are made to believe by unscrupulous parties that they cannot own agricultural land in India, once they become Nri’s. This is not true. If a non resident already had agricultural land before becoming a non-resident, they can continue to hold such land.
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Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
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