Can OCI holder register agricultural land purchased in India by father

Question: Hi,
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?
Thanks

Answer(s)

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

Your Answer

Related Questions

Q: Can residential/commercial property be mortgaged by NRI?

A: The sale proceeds of immovable property acquired by way of gift should be credited to NRO account only. From the balance in the NRO account, NRI/PIO may remit up to USD one million, per financial...

Q: How can an NRI make payment for the purchase of residential property in India?

A: Payment can be made by NRI / PIO out of : Funds remitted to India through normal banking channels or Funds held in NRE / FCNR (B) / NRO account maintained in India No payment can be made...

Q: Is repatriation of the application money for booking of flat/ payment made to the builder by NRI allowed when the flat is not allowed or the booking contract is canceled?

A: The Authorised Dealers can allow NRIs / PIOs to credit refund of application/ earnest money/ purchase consideration made by the house building agencies/ seller on account of non-allotment of flat/...

Q: If the rupee loan was taken by the NRI from an authorized dealer for the purchase of a residential property can an NRI repatriate the sale proceeds of such property?

A: Yes, Authorised Dealers have been authorised to allow repatriation of sale proceeds of residential accommodation purchased by NRIs/ PIOs out of funds raised by them by way of loans from the...

Ask