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]

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]

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]

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?