No. Since general permission is not available to NRI/PIO to acquire agricultural land/ plantation property / farm house in India, such proposals will require specific approval of Reserve Bank and the proposals are considered in consultation with the Government of India.
Can an agricultural land / plantation property / farm house in India owned / held by a non-resident be sold?
NRI / PIO may sell agricultural land /plantation property/farm house to a person resident in India who is a citizen of India.
Foreign national of non-Indian origin resident outside India would need prior approval of Reserve Bank to sell agricultural land/plantation property/ farm house in India
Can an NRI / PIO / Foreign national holding an agricultural land / plantation property / farm house in India gift the same?
NRI / PIO can gift but only to a person resident in India who is a citizen of India.
Foreign national of non-Indian origin needs prior approval of Reserve Bank
Can a person who had bought immovable property when he was a resident, continue to hold such property even after becoming an NRI/PIO?
Yes, he can continue to hold the residential / commercial property / agricultural land/ plantation property / farm house in India without the approval of the Reserve Bank
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