nri buy farm house india, can nri purchase plantation property, farmhouse purchase nri fema
2 Answers
No. Along with agricultural land, FEMA specifically bars NRIs and OCIs from purchasing a farm house and plantation property. So a true farm house on agricultural land, or a tea, coffee, rubber type plantation property, cannot be bought by an NRI. This sometimes confuses buyers because builders market 'farm house plots' or weekend homes that are actually on agricultural or notified land. If the property is legally agricultural land or a genuine farm house, an NRI buying it is against the rules. The lawful ways to come to own such property remain inheritance and the limited gift route. A regular residential bungalow on land that is properly converted to non agricultural use is a different thing and an NRI can generally buy that. The classification of the land in the records is what decides this, not what the seller calls it. Always have a lawyer verify the land's actual classification before any purchase. General information, not legal advice.
A builder near Bangalore sold these lovely farm house plots and many NRIs nearly bought. My lawyer pulled the records and they were agricultural land. Would have been an illegal purchase for us. Check the land class, not the brochure.