Can nri buy agricultural land in maharashtra

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Can an NRI buy agricultural land in India?

Under Fema and the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, NRIs are not permitted to purchase an agricultural land or plantation property or farmhouse in India I am an Indian resident and own some agricultural land. I included my son’s name in the deed for my agricultural land.

Can NRIs sell inherited property in India?

NRIs can sell an inherited property or gift the same and remit the money outside India. However, NRIs can give an inherited property as a gift only to an Indian resident or to another NRI/ Persons of Indian Origin (PIO) (apart from agricultural land).

Can a US citizen purchase agricultural land in India under automatic route?

Therefore, to answer your query, your son, now being a US citizen, may not be able to acquire or purchase agricultural land in India under the automatic route. I was allotted a plot of land under the Yamuna Expressway Scheme in 2009. I was the sole holder of the plot.

Can a non agriculturalist buy agricultural land?

Only an agriculturist can acquire an agricultural land. A non-agriculturist can purchase an agriculture land with the prior consent from the District Collector. 22. Agreement to sell – This should be drafted and executed from your legal advisor with all the terms and conditions.

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How much can I remit from an NRO account?

The proceeds from the property needs to be deposited in the NRO Account of the NRI. The maximum amount that can be remitted from an NRO Account is US$ 1 million. The process of repatriation is the same done for outward remittances involving the forms 15CA and 15CB. In addition to these, other documents like will, legal heir certificate, death certificate (in case of inheritance), and sale agreement (in case of sale)


Is there capital gains tax on agricultural land?

The taxation on sale of agricultural land is different for rural and urban areas. Rural agricultural lands are not capital assets therefore no capital gains tax is applicable whereas in case of urban agricultural land capital gains tax is applicable.


Can an NRI give a farmland?

An NRI can only give such properties to a Resident India as gifts. In easy terms:


Can an NRI inherit land?

Inheritance of Agricultural Land for NRI. NRIs as well as OCIs can’ t directly buy agricultural land, plantation property, or a farmhouse in India but they can inherit it from a Resident Indian. An NRI can even inherit such properties from other NRIs subject to certain regulations such as special permissions from RBI.


Can an NRI gift land to an Indian?

NRI to Resident Indian gift of property. Yes; Can be gifted. NRI to NRI gift of property. No; Can’t be gifted. Gift of Agricultural Land to NRI and vice versa. Note: Property in the above table refers to agricultural land, plantation property and farmhouses. Also, consider the Benami Act while gifting properties.


Can an NRI buy a house in the name of another person?

An NRI can’t buy a property in the name of another person unless that person is a spouse, brother, sister or lineal ascendant or descendant. Buying a property in the name of someone else is considered illegal under the Benami Act.


Can NRIs give money outside India?

NRIs can sell an inherited property or gift the same and remit the money outside India. However, NRIs can give an inherited property as a gift only to an Indian resident or to another NRI/ Persons of Indian Origin (PIO) (apart from agricultural land).


How and why investing in agricultural land can be profitable?

1. Low level of risk and high level of capital security – Investing in agriculture is supported by a solid asset that is unlikely to depreciate. Also, past data show that agriculture has demonstrated strong capital protection features over a long period.


Can NRI Indian citizens buy agricultural land in India?

NRIs can only buy commercial and residential properties in India. It is also subject to specific rules and is subject to tax on the purchase of property in India by NRIs. In India, NRIs are not allowed to buy agricultural land, farmhouses, farms, or orchards.


Points to remember while buying agricultural land in Maharashtra

The list of the common documents that need to be checked before buying agricultural land in Maharashtra can be given below.


Legal tips for buying agricultural land

To make this difficult task more manageable for you, we have listed a few essential legal points to consider when buying agricultural land in India.


The cost of agricultural land in Maharashtra

Several natural factors can affect the cost of agricultural land.


The legal aspect of owning agricultural land

Check the title of the farmland is the basic compliance that must be completed before purchase. It is important to ensure that there is no dispute over title and area of ​​land. The confirmation of the farmland title must be at least 40 years before the date of purchase.


What the RBI also said on the issue

The RBI has stated in the recent past that OCIs and NRIs will not need any prior permission for buying or transferring immovable properties in India. However, the only exception will be plantations, agricultural land and farmhouses.


The Whole Selling and Gifting Aspect of it

However, NRIs can sell their inherited property or even gift away the same while remitting this money outside the country. OCIs or NRIs may sell inherited plantations, agricultural land and farmhouses to Resident Indians only. For those agricultural plots bought with the RBI’s special permission, they will have to complete proper sale transactions.


What to Ensure

Buying property is always a slightly complex affair when you’re an NRI. Get proper legal help and guidance from the right real estate platform before finalizing your transaction. NRIs cannot buy properties in the name of any other individual unless it is their spouse, descendant, lineal ascendant or their brother/sister.


Can NRIs buy property in India?

The Reserve Bank of India (RBI) has given general permission to NRIs to acquire property in India. However, it does not mean that NRIs can buy any type of property. NRIs can only purchase commercial and residential properties in India.


Can NRIs transfer land to a permanent resident?

NRIs are allowed to transfer the ownership of the agricultural land by gift or by sale, but only to a permanent resident of India. In the case of the sale of the inherited agricultural land, there will be tax implications, as well.


Can the inherited agricultural land be converted to commercial or residential land?

NRIs can get the conversion done to commercial or residential land after inheriting agricultural land in India.


Do NRIs have to pay taxes on land?

While NRIs don’t have to pay any tax on the inheritance of agricultural land, it will need to be paid on the sale. Capital gains tax is levied on the sale proceeds in such transactions. The earnings from such sales can only be remitted abroad after the payment of the due taxes.


Can NRIs inherit land from non-residents?

If NRIs inherit agricultural land from a non-resident of India, the approval of the RBI is necessary. Also, the owner of the agricultural land should have been a citizen of India while buying or inheriting the property. It should also be in accordance with FEMA or other relevant laws at that time.


Can NRIs buy farmland?

Regarding agricultural land, NRIs are NOT allowed to purchase agricultural land, farmland, farmhouses, or plantations in India.


Can NRIs inherit agricultural land in India?

Inheriting agricultural land is the only way NRIs can own agricultural land in India.


NRI but still an India citizen wants to purchase agricultural land in India on parent’s name

Hi All, I want to purchase agricultural land in Maharashtra, India. I am an Indian citizen since birth but presently working in Singapore. I pay all the taxes in Singapore, but no tax in India since I have no earnings in India.


12 Answers

No legal issues can raise you can account of remissions. You can remit any amount from abroad.


Where to register gift deed in Uttar Pradesh?

After paying the applicable stamp duty in the relevant state, Uttar Pradesh in your case, the gift or release deed will require to be executed and registered by your daughter at the office of the sub-registrar of assurances, having territorial jurisdiction of the land.


Can a daughter give you land?

Under a gift or release deed, your daughter may gift or relinquish her interest in the land, as the case may be, to you or any other relative, subject to complying with the terms of the allotment of the land.


Can NRIs buy farmland in India?

Under Fema and the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2018, NRIs are not permitted to purchase an agricultural land or plantation property or farmhouse in India. However, one may seek special permission from the Reserve Bank of India, which may be granted only after …


What is agricultural land in Maharashtra?

25 points to check before buying agricultural land in Maharashtra. Agricultural lands are the land which is generally used for farming or cultivation purposes. In Maharashtra, the agriculture land can be purchased by an existing farmer only. The farmer may be anywhere from India.


What type of land is not allowed to sell by the Collector or the Revenue Tribunal?

18. Cultivators Land – This type of land as listed under the Kul-holding u/s 32-G is not allowed to sell by the Collector or the Revenue Tribunal. Hence all the lands of the cultivators should be strictly avoided.


Who is authorized to conduct the survey of the land?

14. Demarcation, Boundaries and Survey – DILR and the Circle Inspectors are the authorized officials to conduct the survey of the land.


Can an agriculturist buy land?

21. Only an agriculturist can acquire an agricultural land. A non-agriculturist can purchase an agriculture land with the prior consent from the District Collector.

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