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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Non-Resident Indians can acquire immovable property in India under FEMA Regulation 3 excluding agricultural land and plantations</h1> FEMA Regulation 3 permits Non-Resident Indians and Overseas Citizens of India to acquire immovable property in India excluding agricultural land, farm houses, and plantation property. Acquisition is allowed through inward remittances or non-resident accounts, by gift from relatives as defined under Companies Act 2013, or through inheritance. Payment must be through specified banking channels only, excluding traveler's cheques or foreign currency notes. Transfer is permitted to Indian residents or other qualified non-residents, but agricultural properties remain restricted for transfer to non-residents.
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