Yes only if you are not nri you can buy. Otherwise you cant
Buying a coconut farm in Tamil Nadu NRI
I live in USA on work Visa (with Indian passport). I am thinking to buy a coconut farm in Tamil Nadu. Is ok to do that? I was told coconut farms are ok to buy but not the cultivation lands. If I have seek RBI permission what is the process?
Asked 3 years ago in Property Law
Religion: Hindu
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7 Answers
You need RBI permission which would not be easily granted
You can visit RBI website for details regarding authority to be approached for purchase of coconut farm land
As a NRI, you cannot buy agricultural or farm land of any kind in India.
RBI is not an authority to grant permission to NRI to buy agricultural or farm land.
You need to stay continuously 181 days in India then you can buy the agricultural farm house as per RBI norms.
- RBI permission is mandatory to purchase the coconut in Tamil Nadu for an NRI.
- Person being only citizen of India can buy the cultivation land. Only NRI who holds citizenship of other country can not buy cultivation land in India.
- Reference to RBI clearance, you shall have to approach the confederations who support for such investment in India and are indirect representative of such organizations.
- If needed any support in such requirement, do feel free to connect.
Regards
Vivek Arya
RBI does not allow NRIs to purchase agricultural land or plantation property in India. Under existing regulations.
