Real Estate India: Can a NRI buy a large plot of land and make a farmhouse?

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Question asked by oci (canadian citizen of indian origin):

I am oci (canadian citizen of indian origin) holding oci status.
can we buy a large plot of land and make a farmhouse?
can we buy waste land that is not being used for agriculture and turn it fertile?
I basically want to return to india & live
I can invest up to 400,000$

thanks for your inputs.


Vatsala Answers:

A person who is not a resident of India cannot purchase farm lands anywhere in India according to the Foreign Exchange Management Act. A resident is a person who resides in India for at least 182 days a year. An overseas citizen of India is no exception to this rule.However as a person of Indian origin, you can purchase other lands in India that are not agricultural lands.

For more information, kindly visit at Real Estate India or Online Real Estate Video.

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