TaxTMI 
TaxTMI 
Acquisition of agricultural land by non-citizens is restricted; exceptions require RBI approval and FEMA residency compliance.
Acquisition and transfer of immovable property by foreign nationals, NRIs and PIOs is regulated by the Foreign Exchange Management Act (FEMA) and the Reserve Bank of India, with additional state-level restrictions. Foreign nationals and NRIs/PIOs are generally prohibited from acquiring agricultural land, plantation property or farmhouses except by inheritance or with prior RBI approval; residential and commercial purchases are permitted under FEMA subject to specified FDI conditions and permissions. (AI Summary)
Acquisition and transfer of immovable property by foreign nationals, NRIs and PIOs is regulated by the Foreign Exchange Management Act (FEMA) and the Reserve Bank of India, with additional state-level restrictions. Foreign nationals and NRIs/PIOs are generally prohibited from acquiring agricultural land, plantation property or farmhouses except by inheritance or with prior RBI approval; residential and commercial purchases are permitted under FEMA subject to specified FDI conditions and permissions. (AI Summary)
25 Jun 2014 
