Can OCI holder register agricultural land purchased in India by father
Can an agricultural land be registered in the name of an OCI (daughter)when it is purchased by an indian citizen(father) to save registering the same land or later inheritting it?
Raju Kanumuri: An NRI is eligible to inherit property from a resident of India, and also a non-resident Indian. However, you must make sure that the person you inherit property from has obtained the real estate or property in accordance with the Foreign Exchange Law in place at the time of sale. Your property should have been in accordance with the FEMA regulations present at the time of sale of the property. There is no restriction on the type of property you can inherit in India. This means you can inherit agricultural land, plantations, commercial or residential land, and properties.
For further more information you can follow the link https://www.videshi.com/nri-articles/nri-inherting-property
Q: What are the options available to the depositor at maturity of FCNR account?
A: There are three options available to a depositor at maturity of FCNR account :
a. To ask for the repayment in designated foreign currency.
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While we are on...
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Applicants should file a police report. To apply for a replacement OCI Card, applicants will have to provide a copy of the complaint filed with the police....
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Q: Are there any prohibitions on the purpose for which loans cannot be taken?
A: The loans cannot be utilized for the purpose of re-lending or for carrying on agriculture or plantation activities or for investment in real estate business.