Purchase of Agricultural property in India

Closed Thread
#1 Aug 3rd, 2011, 17:48
Join Date:
Aug 2011
Location:
chennai
Posts:
12
  • kc67 is offline
#1
Hello:

I am a Canadian Citizen and I have PIO card issued at Chennai FRRO. Also I have Residential permit issued from the same office to live in India. I have been living here for the past 3 years.
Question: Can I purchase immovable agricultural property in Andhrapradesh.
Any response will be greatly appreciated.
thanks
#2 Aug 3rd, 2011, 17:54
Join Date:
Apr 2009
Location:
Almora
Posts:
6,831
  • jituyadav is offline
#2
No, you cannot.
If you find my posts confrontationist, please bear, I am an old frustrated guy who has nothing better to do than sit on rocking chair and curse the world whole day
#3 Aug 3rd, 2011, 18:16
Join Date:
Aug 2011
Location:
chennai
Posts:
12
  • kc67 is offline
#3
Quote:
Originally Posted by jituyadav View Post No, you cannot.
I read in the RBI guidelines Frequently asked questions section, which states that : A Foreign national resident of India can purchase immovable property and there are no exceptions.
#4 Aug 3rd, 2011, 18:35
Join Date:
Dec 2008
Location:
Interweb
Posts:
16,222
  • vaibhav_arora is offline
#4
I'm looking @ that right now, where does it read what you have quoted? can you paste the link please?
#5 Aug 3rd, 2011, 19:08
Join Date:
Aug 2011
Location:
chennai
Posts:
12
  • kc67 is offline
#5
here is the website: www.rbi.org.in
go to that site and see FAQs on Aquisition and transfer of Immovable property in India:

Q #7> Can a Foreign national who is person resident in India purchase immovable property.

Answer: yes ....
#6 Aug 3rd, 2011, 20:40
Join Date:
Aug 2011
Location:
chennai
Posts:
12
  • kc67 is offline
#6
Mr. Arora:

here is the exact link:

http://www.rbi.org.in/scripts/FAQView.aspx?Id=33

please visit that site and see question #7
#7 Aug 3rd, 2011, 22:08
Join Date:
Oct 2004
Location:
Chennai, India
Posts:
70,772
  • Nick-H is offline
#7
Sorry, you have to read more of the document ...

Quote:
Q.1. Who can purchase immovable property in India?

Ans. Under the general permission available, the following categories can purchase immovable property in India:

i) Non-Resident Indian (NRI)1
ii) Person of Indian Origin (PIO)2

The general permission, however, covers only purchase of residential and commercial property and is not available for purchase of agricultural land / plantation property / farm house in India.

Q.2. Can NRI/PIO acquire agricultural land/ plantation property / farm house in India?

Ans. No.
#8 Aug 4th, 2011, 07:13
Join Date:
Aug 2011
Location:
chennai
Posts:
12
  • kc67 is offline
#8
Nick: here is the question and answer>

Q.7. Can a foreign national who is a person resident in India purchase immovable property in India?

Ans. Yes, a foreign national who is a ‘person resident in India’ within the meaning of Section 2(v) of FEMA, 1999 can purchaseimmovable property in India,but the person concerned would have to obtain the approvals and fulfil the requirements, if any, prescribed by other authorities, such as, the State Government concerned, etc. The onus to prove his/her residential status is on the individual as per the extant FEMA provisions, if required by any authority. However, a foreign national resident in India who is a citizen of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan would require prior approval of the Reserve Bank.

Therefore, I say that Residential status is important to purchase the immovable property which includes agricultural property
#9 Aug 4th, 2011, 08:04
Join Date:
Jan 2005
Location:
yörp
Posts:
21,997
  • machadinha is offline
#9
All I know is the concept of "residence" there seems to be widely misunderstood (notably among those asking, or otherwise engaged in wishful thinking). What precisely it would entail I'm not one who can tell you.

Quote:
Originally Posted by kc67 View Post Question: Can I purchase immovable agricultural property in Andhrapradesh.
Any response will be greatly appreciated.
So, you had a question. You've since been diligently answering it yourself above, and apparently unwilling to hear anything anyone else has to say on it. Case closed? Good luck with it.

(Note also from what I gather, there may be applicable state laws in some states jealously guarding the acquisition of property and/or notably land and in its various designated uses there, even from people just from out-of-state, let alone from further beyond.

AP again I can't tell you about, nor anything much further about any of this stuff.)

Methinks btw that

Quote:
Therefore, I say that Residential status is important to purchase the immovable property which includes agricultural property
is something you read into there yourself; your quote doesn't seem to support this (while it does seem to stress the preference any state laws will take), and Nick's seems to contradict it. I do know the aqcuisition of agricultural land there has been discussed not rarely before here, so you could search around for it. Be wary of, as noted, there seemingly being many misconceptions in the field, and in that of general property acquisitions anyway.
#10 Aug 4th, 2011, 09:39
Join Date:
Apr 2009
Location:
Almora
Posts:
6,831
  • jituyadav is offline
#10
Quote:
Originally Posted by kc67 View Post Therefore, I say that Residential status is important to purchase the immovable property which includes agricultural property
You say...

You cannot buy agricultural property, and if it is so difficult to understand and accept, then go ahead and act on someones assurance. He will pocket good commission and you will be stuck with nothing else but regret.
#11 Aug 4th, 2011, 09:44
Join Date:
Jan 2005
Location:
yörp
Posts:
21,997
  • machadinha is offline
#11
LOL, Jitu. I'm picturing KC (and the many like them, and in indeed many fields. Don't take it too personally, KC, I guess it's a common modern approach, even though arguably I don't understand it, nor do I think it will get you or anyone anywhere) standing there: But, this one para on that website and in my reading said that...

You do realize no website such-and-such & no matter how official or not will have the last say on it, right?
#12 Aug 4th, 2011, 13:12
Join Date:
Oct 2004
Location:
Chennai, India
Posts:
70,772
  • Nick-H is offline
#12
Quote:
Originally Posted by jituyadav View Post You say...

You cannot buy agricultural property, and if it is so difficult to understand and accept, then go ahead and act on someones assurance. He will pocket good commission and you will be stuck with nothing else but regret.
You may choose to take Q7 in isolation, ignoring Q1 and Q2, and interpreting it in the way most favourable to you, but the authorities won't.

This is old ground we're covering. Quite a few of us here are no strangers to that FAQ page (which has been updated recently, by the way).
#13 Aug 4th, 2011, 15:18
Join Date:
Aug 2011
Location:
chennai
Posts:
12
  • kc67 is offline
#13
Thanks Nick: I am not ignoring Q1& Q2, but those two questions do not include "residential Status" of that person. PIO is only visa free entry card into India, assuming that PIO person is living in a foreign country.

If PIO card holder becomes a resident of India with a long term residential permit, then answer in Q7 can be interpreted as it says. If the authorites dont mean it, then they shoudn't be stating that. I saw it has been updated recently.
#14 Aug 4th, 2011, 15:42
Join Date:
Aug 2006
Location:
Homeless
Posts:
20,539
  • nycank is offline
#14
Quote:
Originally Posted by kc67 View Post If the authorites dont mean it, then they shoudn't be stating that. I saw it has been updated recently.
From the FAQs

http://www.rbi.org.in/scripts/FAQView.aspx?Id=33#F2

Quote:
A. Acquisition of Immovable Property in India through
purchase / gift/ inheritance

Q.1. Who can purchase immovable property in India?

Ans. Under the general permission available, the following categories can purchase immovable property in India:

i) Non-Resident Indian (NRI)1
ii) Person of Indian Origin (PIO)2

The general permission, however, covers only purchase of residential and commercial property and is not available for purchase of agricultural land / plantation property / farm house in India.

Enjoy !!!!
#15 Aug 4th, 2011, 17:13
Join Date:
Aug 2011
Location:
chennai
Posts:
12
  • kc67 is offline
#15
Question # 1& 2 are do not take into consideration "Residential Status". those questions and answers are based on "Foreign Residence". But question #7 talks about "resident in India"
any thoughts of interpretation is welcome.
Closed Thread

Similar Threads

Title, Username, & Date Last Post Replies Views Forum
In India on student visa and wanting to purchase property Aug 3rd, 2011 17:57 3 11208 Property in India
What kind of expenses are foreseen in purchase of a property in India? Nov 23rd, 2004 19:07 4 2679 India Expat Area


Posting Rules

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
Forum Rules»
Trackbacks are Off
Pingbacks are Off
Refbacks are Off
Thread Tools
Display Modes

Search Engine Optimization by vBSEO 3.3.2
© IndiaMike.com 2018
Page Load Success