Q588. Difference in rules between NRI and PIO buying agricultural land in India

Question: Hi,

I reside in Brisbane, Australia. I might be granted my Australian citizenship soon and then we will go for OCI card.

My question is that I bought an agricultural land in India. This is not an inheritance. Is it okay to have it before you apply for OCI card,

since I have not bought it after getting the OCI card.

Thanks

Regards,

Jyoti H

Answer: While most people realize that foreigners cannot purchase agricultural land in India, there apparently is confusion as to whether NRIs who hold Indian passports are also not allowed to purchase agricultural land. Everyone understands what a foreigner is, however the terms NRI and PIO are often not properly interpreted and sometimes this can lead to confusion in understanding rules. Person of Indian Origin (PIO) refers to former Indian citizens or people who have some connection to India by way of ancestors. Non Resident Indians (NRI) refers to those people, who are Indian citizens, they hold Indian passports and live abroad due to various reasons such as employment. They are Indian citizens but do not reside in India, hence they are referred to as Non Resident Indians (NRIs) Please be aware that both both categories, PIO as well as NRIs are barred form acquiring agricultural land or plantation property in India, as per RBI guidelines. The question here is not whether you bought the agricultural land before getting OCI but whether you bought the land when you were an NRI? when rules state that NRIs cannot buy agricultural land. If you purchased the land legally when you were not an NRI but a resident Indian, then you can continue to hold the land even after you get OCI.
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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Q588. Difference in rules

between NRI and PIO buying

agricultural land in India

Question: Hi, I reside in Brisbane, Australia. I might be granted my Australian citizenship soon and then we will go for OCI card. My question is that I bought an agricultural land in India. This is not an inheritance. Is it okay to have it before you apply for OCI card, since I have not bought it after getting the OCI card. Thanks Regards, Jyoti H Answer: While most people realize that foreigners cannot purchase agricultural land in India, there apparently is confusion as to whether NRIs who hold Indian passports are also not allowed to purchase agricultural land. Everyone understands what a foreigner is, however the terms NRI and PIO are often not properly interpreted and sometimes this can lead to confusion in understanding rules. Person of Indian Origin (PIO) refers to former Indian citizens or people who have some connection to India by way of ancestors. Non Resident Indians (NRI) refers to those people, who are Indian citizens, they hold Indian passports and live abroad due to various reasons such as employment. They are Indian citizens but do not reside in India, hence they are referred to as Non Resident Indians (NRIs) Please be aware that both both categories, PIO as well as NRIs are barred form acquiring agricultural land or plantation property in India, as per RBI guidelines. The question here is not whether you bought the agricultural land before getting OCI but whether you bought the land when you were an NRI? when rules state that NRIs cannot buy agricultural land. If you purchased the land legally when you were not an NRI but a resident Indian, then you can continue to hold the land even after you get OCI.
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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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