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Can an Oversea Citizen of India hold agricultural Property in India
09-Apr-2023 (In Property Law)
My son's application for Singapore Citizenship is approved, as such he has to surrender his Indian passport and obtain OCI ( Overseas Citizen of India). Currently His property in India includes Apartments and 41 cents of Land in Trivandrum. Out of this 41 cents land 35 cents is denoted as wetland in BTR records in Village office though the land was reclaimed prior to Feb 2008. Further as per the current satellite survey conducted by Govt, it has been excluded from wetland status. I understand that an OCI cannot ACQUIRE agricultural land. But can he continue to HOLD this land which is denoted as wetland in BTR records which was acquired as an Indian citizen else how can he rectify the situation
He can continue the holding.
In the normal case general permission is not available to NRI/PIO/ OCI 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. OCI holders residing in India by virtue of their OCI status are still foreign citizens and should realize that OCI grants them visa for life to stay in India but does not give them Indian citizenship.
Can NRIs who have acquired foreign citizenship keep agricultural Land in India?
NRIs who have acquired foreign citizenships are sometimes mislead into believing that they cannot continue to hold agricultural land because foreigners cannot own agricultural land in India. This is not true. While foreigners cannot purchase agricultural land, NRIs who acquire foreign citizenship can continue to hold agricultural land or any other property they own in India provided they had acquired them legally before accepting foreign citizenship
If your son wish either sell or gift the land to you or any one of your family .Agricultural land in India, acquired by foreigners, by way of inheritance can only be sold to Indian citizens
In the normal case general permission is not available to NRI/PIO/ OCI 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. OCI holders residing in India by virtue of their OCI status are still foreign citizens and should realize that OCI grants them visa for life to stay in India but does not give them Indian citizenship.
Can NRIs who have acquired foreign citizenship keep agricultural Land in India?
NRIs who have acquired foreign citizenships are sometimes mislead into believing that they cannot continue to hold agricultural land because foreigners cannot own agricultural land in India. This is not true. While foreigners cannot purchase agricultural land, NRIs who acquire foreign citizenship can continue to hold agricultural land or any other property they own in India provided they had acquired them legally before accepting foreign citizenship
If your son wish either sell or gift the land to you or any one of your family .Agricultural land in India, acquired by foreigners, by way of inheritance can only be sold to Indian citizens
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