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