NRI purchased Agricultural land

[ks9072]

I am NRI holding Indian passport, last 10 years (from 98’march) I worked and working in different countries. During this

period I purchased 15 acres of Agricultural land in my village in India where I want to go back and settle down.
Now I just came to know from RBI web site NRI’s can’t buy the Agricultural land in India So what should I do. Please advice.
Many thanks
SK.

[anil1956]

It is nice to see somebody going through RBI site and expressing the problem. Others would have simply doubted if I would have told that NRI can not purchase lands/real estate.
Now the solution.

1. If you have got the land already registered in your name just keep quite.
2. If you still want to sort out the issue transfer it to somebody who is not an NRI.
3. If now you have come back and settled in India from last say 6 months your status of NRI will be lost today. So just forget the problem.

I hope these methods will help you
you can seek further clarification if needed.

you can also seek advise on farm investment/development technical and financial for higher profits

anil1956@hotmail.com

Originally Posted by ks9072

I am NRI holding Indian passport, last 10 years (from 98’march) I worked and working in different countries. During this

period I purchased 15 acres of Agricultural land in my village in India where I want to go back and settle down.
Now I just came to know from RBI web site NRI’s can’t buy the Agricultural land in India So what should I do. Please advice.
Many thanks
SK.

[sivarathinam]

You may also notify to RBI and if your wife is a resident Indian you request some time from RBI and convert land properties in the name of your wife. (it dosen't require much registeration charges. Keep your intentions clear to them

regards, Siva

[lucky]

just sit with coolness !!
i know many of nri`s who have lots of properties and lands in india.
just chilliiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii iiiiiiiiiiiiiiiiiiiiiii.

[kayapakkam]

Originally Posted by anil1956

It is nice to see somebody going through RBI site and expressing the problem. Others would have simply doubted if I would have told that NRI can not purchase lands/real estate.
Now the solution.

1. If you have got the land already registered in your name just keep quite.
2. If you still want to sort out the issue transfer it to somebody who is not an NRI.
3. If now you have come back and settled in India from last say 6 months your status of NRI will be lost today. So just forget the problem.

I hope these methods will help you
you can seek further clarification if needed.

you can also seek advise on farm investment/development technical and financial for higher profits

anil1956@hotmail.com

It is wrong to keep quiet when you have full knowledge of the situation. Further, problem will not be solved if transferred to another person. Simple fact, is that the NRI has a faulty title and hence he can not pass a clean title to the person whom he transfers.

The best solution as I see is to get back to the original seller and get a cancellation of the registration of document. Get a fresh document done in the resident Indians name. For this you would need the cooperation of the original seller. Only in this way, in my opinion, you can perfect the title.

If any one know any other method, please enlighten me.

best regards
kayapakkam

[ks9072]

Hi kayapakkam,
Many thanks for ur reply, original seller will not help me to do the cancellation and re-registration, Why RBI put think kind of rule for NRI's. I dont know that time there rule like this.

SK

[ks9072]

1. Is there any way that can change these Agricultural land to commercial land
2. What if I talk to RBI saying that I will go back to India will settle down, Will they accept?
3. if I go back to India immediately, with in 182 days I will loose NRI’s status right

[kayapakkam]

Originally Posted by ks9072

1. Is there any way that can change these Agricultural land to commercial land
2. What if I talk to RBI saying that I will go back to India will settle down, Will they accept?
3. if I go back to India immediately, with in 182 days I will loose NRI’s status right

Possibly, RBI has imposed this rule to ensure that agricultural lands do not get gobbled up and left uncultivated. Further ignorance of any law is not going to get you any relieft. At best it can only get you some sympathy of leniency.

I do not think that this rule is being implemented with vigour. However, check whether you were an NRI when you acquired this property. If you had acquired it when you were not an NRI and if subsequently, you had become an NRI you may not be affected.

[lucky]

JOOTH boleeeeeeeee - kavva ( crow) katte AUR suchh bolee`tu SHER (lion) khaaaaaa-jaaiiiiii.

now its you my dear nri, u deside ,what to do.

THE BALL IS IN YOUR COURT.

Originally Posted by ks9072

1. Is there any way that can change these Agricultural land to commercial land
2. What if I talk to RBI saying that I will go back to India will settle down, Will they accept?
3. if I go back to India immediately, with in 182 days I will loose NRI’s status right

[badri_2k]

Dear NRI,

When you have brought this land. ie, before or after getting NRI Status?