Q1238. Can an NRI buy agricultural land in India?
No, NRIs and OCI cardholders are not allowed to purchase agricultural land, plantation property, or farmhouses in India under FEMA (Foreign Exchange Management Act) regulations. However, an NRI can inherit agricultural land from a resident Indian. If you inherit agricultural land, you can hold it but may face restrictions on repatriating the sale proceeds if you decide to sell.
If you are an NRI who wishes to purchase agricultural land, you would need to obtain special permission from the Reserve Bank of India (RBI), which is granted only in exceptional circumstances.
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