US Citizen and OCI buying home in India

[sapro]

Hi All,
I am a naturalized US Citizen and have my OCI issued 2 years back. I am planning to buy an Apartment in India. Can I buy without any issues?

The reason why I am asking is because as an OCI (Overseas Citizenship of India), I read somewhere that there are restrictions in buying certain agricultural properties.

Thanks in advance for the response. Sorry if this is a repeat question.

 

[Raju595]

Hi All,
I am a naturalized US Citizen and have my OCI issued 2 years back. I am planning to buy an Apartment in India. Can I buy without any issues?

The reason why I am asking is because as an OCI (Overseas Citizenship of India), I read somewhere that there are restrictions in buying certain agricultural properties.

Thanks in advance for the response. Sorry if this is a repeat question.

You can buy an apartment without any issue. Restrictions are for agricultural land only.

Raju

 

[ginnu]

Hi All,
I am a naturalized US Citizen and have my OCI issued 2 years back. I am planning to buy an Apartment in India. Can I buy without any issues?

The reason why I am asking is because as an OCI (Overseas Citizenship of India), I read somewhere that there are restrictions in buying certain agricultural properties.

Thanks in advance for the response. Sorry if this is a repeat question.

You can buy commercial or residential property and no problems with that.Better pay from your NRE or NRO account. NRI or PIO can’t buy agricultural or plantation land according to present FEMA or RBI regulations but registrar or sub-registrar don’t ask your passport and many have bought agricultural land got registred and many have sold agricultural land. Many buy agricultural land on relative name (benami). In India so many Bangladeshi are entering everyday and getting Ration card and voter card and driving license in India. In India law is for those who want to follow the law and many criminals are politicians who rule India and everyday break the law.

 

[sapro]

Thanks Raju595 and ginnu.