• NRI buying agricultural land in Tamil Nadu

How an NRI buy agricultural land in Tamilnadu and how to get loan for the same.
Asked 2 years ago in Property Law from United States
Religion: Hindu
NRIs cannot buy agricultural land in India except with the prior permission of Reserve Bank of India (RBI) which is granted only in exceptional cases. So apply firstly to RBI for permission to purchase. Unless the permission is granted no bank will lend loan.
Ashish Davessar
Advocate, Jaipur
23092 Answers
639 Consultations

5.0 on 5.0

The NRI is as good as Indian citizen and there is no restriction to buy property in India.
However to buy agricultural land he faces same restrictions like any other Indian citizen.
So contract local panchayat office to fulfill the formalities.
Devajyoti Barman
Advocate, Kolkata
13114 Answers
174 Consultations

5.0 on 5.0

1) NRI cannot purchase agricultural land in Tamil nadu . 

2) no loan would be granted for said purpose 
Ajay Sethi
Advocate, Mumbai
46641 Answers
2759 Consultations

5.0 on 5.0

There is no different procedure for NRI ,if you were belonging to Tamil nadu
Your NRI account will give you loan for th purchase.
Make deal register the sale agreement.
There is absolutely no issues as long as you have an Indian passport.
Thresiamma G. Mathew
Advocate, Mumbai
1515 Answers
139 Consultations

5.0 on 5.0

1. NRIs can not buy agricultural land in Tamilnadu,

2. You are required to get it purchased in the name of your relative or friend,

3. Moreover, there is also a ceiling of 15 acres which can be purchased in one person's name in Tamllnadu.
Krishna Kishore Ganguly
Advocate, Kolkata
18741 Answers
452 Consultations

5.0 on 5.0

A NRI is not permitted to buy agricultural land in Tamilnadu.
Since he is not permitted to buy agricultural land, here is no question of loan.
T Kalaiselvan
Advocate, Vellore
36770 Answers
403 Consultations

5.0 on 5.0

you should buy an agriculture land in India in the name of father, mother or other relatives and make them owner thereafter take special power of attorney from him for its use and alienation etc. after lapse of some time you should get that land in gift from the owner. 
Shivendra Pratap Singh
Advocate, Lucknow
5066 Answers
78 Consultations

4.9 on 5.0

Ask a Lawyer

Get legal answers from top-rated lawyers in 1 hour. It's quick, easy, and anonymous!
  Ask a lawyer