NRI vs OCI - Agri/Plantation Land - Question

[poojaprabhaker]

Hi!

I have a question regarding buying Farm/Agri land by NRI vs OCI.

Under benefits of being OCI, the below is given:
Parity with NRIs in financial, economic and educational fields except in the acquisition of agricultural or plantation properties.

What does this mean?
NRI's can buy/acquire Agri land but OCI cannot
or
NRI's cannot buy/acquire Agri land but OCI can.

Appreciate any help

Thanks
Pooja Prabhaker

[leifbooger]

Yes, NRIs can buy or sell anything inside India since an NRI holds an Indian passport.

[poojaprabhaker]

Thanks for the reply.

I am still confused though. RBI states that NRI CANNOT buy agri land. See link: http://www.rbi.org.in/scripts/FAQView.aspx?Id=33

Does this mean that GOV and RBI have conflicting rules? How dumb!

Pooja

[leifbooger]

The link says that you can buy the agri land only if you earned the money to buy the land inside India. Or a resident Indian can buy it and you can inherit it. So you can give the money to your parents/sibling to buy the land and then inherit it from them.

[sranganeni]

Rights on Agricultural Land after loosing Indian Citizenship

Hi,

Right now I am an Indian citizen and hold some agricultural land. I bought some land few years ago and got some land through inheritance (which is registered on my name). Now I am thinking of taking US citizenship.

My Question is: Will I have the right on these agricultural land if I loose my Indian citizenship and become OCI/PIO?

I really appreciate your help on this matter.

Thanks in Advance.

-Siva Ranganeni

[kdahiya]

land loosing

Hi,

Right now I am an Indian citizen and hold some agricultural land. I bought some land few years ago and got some land through inheritance (which is registered on my name). Now I am thinking of taking US citizenship.

My Question is: Will I have the right on these agricultural land if I loose my Indian citizenship and become OCI/PIO?

I really appreciate your help on this matter.

Thanks in Advance.

-Siva Ranganeni

NO YOU WILL NOT LOOSE IT. YOU WOULD NOT BE ABLE TO PURCHASE UNDER CERTAIN CIRCUMSTANCES ONCE YOU LOOSE INDIAN CITIZENSHIP. HOWEVER THERE IS NO RESTRICTION ON INHERITANCE.

[kodalis1]

land from Aunt

Hi,

I got US citizenship. I am getting agricultural land from my aunt ( mothers sister). Since, that is agriculatural land, is it OK to get that from Aunt?

[LambaVij]

Can an OCI purchase & sell fresh agricultural properties in India?

Hi,

If an OCI holds existing ancestral agricultural properties in India at the time of registering as an OCI. Can he purchase & sell fresh agricultural properties in India as an OCI

[sunrag1]

Hi,

I got US citizenship. I am getting agricultural land from my aunt ( mothers sister). Since, that is agriculatural land, is it OK to get that from Aunt?

As per my research earlier (I might be wrong), we can take agri property from father/mother only (not from anyone else) after taking non-India citizenship.