Indian Properties - US Citizenship

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mrv2

Registered Users (C)
Hi All,

It is been a while since I visited. Hope everyone is doing well.

I am eligible to apply for Citizenship in few months.

What are the implications of existing properties in India on my name and future inherited properties once you loose Indian citizenship.

Personally I have some agriculture lands on my name, I will be getting some more agriland, house, plot from my parents and I also have a house in construction on my wife and myself as owners.

I would sincerely appreicate if some one can provide links about this matter and share your honest opinions.
 
Check this out!

Go to OCI issues forums and check the sticky thread. It gives you all the links and information that you might be wanting....
 
mrv2 said:
Hi All,

It is been a while since I visited. Hope everyone is doing well.

I am eligible to apply for Citizenship in few months.

What are the implications of existing properties in India on my name and future inherited properties once you loose Indian citizenship.

Personally I have some agriculture lands on my name, I will be getting some more agriland, house, plot from my parents and I also have a house in construction on my wife and myself as owners.

I would sincerely appreicate if some one can provide links about this matter and share your honest opinions.
Click to expand...


Nothing happen to your existing properties in India OR future inherited properties
According to FEMA or RBI You can’t buy agricultural land or form house. Many buy agricultural properties as no one asks/checks your passport at registrar office they only need PAN card and you can get PAN card any time. Many buy agricultural land and before buying they ask seller t o get it converted as non-agricultural.


http://www.nriinternet.com/INDIA/NRI information/NRIs to India.htm


I am an NRI and am trying to build a house in India. Can I buy an acre or two and build a house. The house is classified as garden land and not agricultural land.

John

Answer: As an NRI you will not be able to purchase agricultural land or so-called garden land. You can get the same converted and then purchase it.



One good link on all FEMA related matters is http://www.femaonline.com/index.htm

and specially section related to immoveable property is http://www.femaonline.com/fema/FAQ/...le_property.htm
 
Thank You Friends

I will followup with the links you have provided.

Little I know that nothing will happen to current and future inherited properties but still want to check if any recent updates to law.
 
Checkout the following link http://indianstudentsnetwork.com/ISNforums/showthread.php?t=108

mrv2 said:
Hi All,

It is been a while since I visited. Hope everyone is doing well.

I am eligible to apply for Citizenship in few months.

What are the implications of existing properties in India on my name and future inherited properties once you loose Indian citizenship.

Personally I have some agriculture lands on my name, I will be getting some more agriland, house, plot from my parents and I also have a house in construction on my wife and myself as owners.

I would sincerely appreicate if some one can provide links about this matter and share your honest opinions.
Click to expand...
 
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