• 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 10 days ago in Property Law
Religion: Hindu

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7 Answers

Yes only if you are not nri you can buy. Otherwise you cant

Prashant Nayak
Advocate, Mumbai
22447 Answers
49 Consultations

4.4 on 5.0

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 

Ajay Sethi
Advocate, Mumbai
79344 Answers
4746 Consultations

5.0 on 5.0

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. 

T Kalaiselvan
Advocate, Vellore
69363 Answers
929 Consultations

5.0 on 5.0

You need to stay continuously 181 days in India then you can buy the agricultural farm house as per RBI norms.

Ganesh Kadam
Advocate, Pune
11668 Answers
109 Consultations

4.9 on 5.0

- RBI permission is mandatory to purchase the coconut in Tamil Nadu for an NRI. 

Mohammed Shahzad
Advocate, Delhi
5538 Answers
51 Consultations

5.0 on 5.0

- 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

Vivek Arya
Advocate, Gurgaon
717 Answers
6 Consultations

5.0 on 5.0

RBI does not allow NRIs to purchase agricultural land or plantation property in India. Under existing regulations. 

Mohammed Mujeeb
Advocate, Hyderabad
18942 Answers
11 Consultations

4.5 on 5.0

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