Can I Purchase new Agricultural land in Gujarat now ? ( I am presently USA Citizen- PIO-OCI )? .I am already having agricultural land my names - 7-12 and 8-A Extract land records in Ahmedabad district,Gujarat since when I was Indian Citizen and Resident INDIAN. I am filing my India Tax Return regularly as Non-Resident status and paying Tax ( whatever Tax liabilities as per Tax Return). I also file my USA Tax Returns too regularly including showing India Income here too. If with RBI permission possible then, what is procedure and how to apply?
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Since you are USA citizen/OCI you cannot purchase agricultural land in Gujarat
2) you can apply to RBI for permission but chances of permission being granted are bleak
3)
You have acquired the agricultural property at the time when you were a resident Indian.
Now since you are a NRI/PIO-OCI card holder, you are not eligible to purchase agricultural land in India except under special circumstances with the permission of RBI.
According to Foreign Exchange Management Act and the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2018, both NRIs and OCIs aren’t allowed to buy any agricultural land or plantation property or farmhouses in India by law unless they get a special permission from the Reserve Bank of India (RBI).
All requests for acquisition of agricultural land/plantation property/ farm house by any person resident outside India or foreign nationals may be made to The Chief General Manager, Reserve Bank of India, Central Office, Exchange Control Department, Foreign Investment Division (III), Mumbai 400 001
What is the Application form format ? From where I can get it ? I mean available online ? OR Can you please provide it to me by email? What are the information required and supporting documents required to be attached with the relevant application? Can you please do and complete the application process ? (Presently I am in USA and communication mode with me be possible by e-mail. ) If yes, what is your fees in Rupees ? Terms of payment ( how much in advance and how much remaining after completing the application process to RBI ? Interested Lawyers May communicate me directly by e-mail to me at RKPATEL71@ GMAIL.COM .
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For format or the application form you can visit the RBI website and search for the desired information.
There is no format
you must state that you are US citizen and OCI . Enclose your passport and OCI card
that you require to purchase agricultural land in Gujarat . Details of land to be purchased to be mentioned
I am sorry but the current Indian laws prohibit foreigners feom purchasing agricultural land.
However, one may seek special permission from the Reserve Bank of India, which may be granted only after the consideration of various factors.
Dear Sir,
Our firm does not specialise in the same. However we wish you all the very best.
Thank you
God Bless
- As per FEMA21/2000 RBI rules , an NRI or PIO cannot acquire agricultural land /farm house/plantation property in India.
- If you will purchase an agriculture land in Gujarat , then it will be a violation of FEMA laws , that can result in a penalty or even confutation of that property.
- Further, to purchase an agricultural property in India, an NRI has to take a prior approval from Reserve Bank of India, But you can acquire this property only by way of inheritance.
- You can approach the Chief General Manager, Reserve Bank of India, Central Office, Exchange Control Department, Foreign Investment Division (III), Mumbai 400 001 for getting permission.
