My spouse and myself are US citizens, and got our OCI cards last December.
My spouse and myself holds inherited plantation properties in India. Do we can hold these properties
--------YES
, or can buy new plantation properties?
-------------Legally no and illegally yes. Legally you CAN buy on name of your parents, brother, sisters and registration should be done on the name of parents, Brother or sister. Do you know BENAMI properties?? All the corrupt politicians in India buy the property on XYZ name and actually they pay for it and get registration and Mutation on the name of XYZ.
Please let me know the rules regarding holding plantation properties for OCI card holders.
-------Rule for OCI is same as for NRI.
Legally you as PIO( Person of India origin ) or NRI cant but plantation property or agricultural land. But many buy as the Registrar or sub-registrar don’t ask for your Passport or ask your citizenship at the time of registration. FYI the law not to buy plantation property or agricultural land is from FEMA and nobody knows what FEMA is. Registrar doesn’t need to know FEMA rule or RBI rule. Suppose X is your enemy and you have told him you are US citizen and X knows that you can’t buy plantation property or agricultural land. If you buy plantation property or agricultural land and X knows it what X can do? X can’t go to Police station and inform that you have bought the plantation property or agricultural land. If X goes to police station then Police officer will tell X what is your problem? If X goes to court to file complaint against you then X has to pay Court fee and X does not know the law and court is not going to entertain him. X does not know where FEMA office is. FYI FEMA office is in Mumbai Nariman point.
Thanks
RT
