What are the guidelines for acquisition of agricultural land / plantation property / farmhouse by NRIs and foreign citizens of Indian origin?

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What are the guidelines for acquisition of agricultural land / plantation property / farmhouse by NRIs and foreign citizens of Indian origin?

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All requests for acquisition of agricultural land / plantation property / farm house by any person resident outside India may be made to The Chief General Manager, Reserve Bank of India, Central Office, Exchange Control Department, Foreign Investment Division (III), Mumbai 400 001. For further information please visit the FAQ Section of http://www.rbi.org.

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Vatsala Answers: NRI’s cannot purcahse agricultural land in India according to the Foreign Exchange Management Act.

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All requests for acquisition of agricultural land / plantation property / farm house by any person resident outside India may be made to The Chief General Manager, Reserve Bank of India, Central Office, Exchange Control Department, Foreign Investment Division (III), Mumbai 400 001.

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Ans. All requests for acquisition of agricultural land / plantation property / farm house by any person resident outside India may be made to The Chief General Manager, Reserve Bank of India, Central Office, Exchange Control Department, Foreign Investment Division (III), Mumbai 400 001. Go Back To Main FAQ Page Note: We’re here to help. You will find listed above, a list of the most common questions of real estate services. If you cannot find the answer to your questions in our Frequently Asked Questions (FAQ) area, then fell free to contact us at anytime and our support specialists will assist you.

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All requests for acquisition of agricultural land / plantation property / farm house by any person resident outside India may be made to The Chief General Manager, Reserve Bank of India, Central Office, Exchange Control Department, Foreign Investment Division (III), Mumbai 400 001. NRI Housing Loan Details Institution Max Loan Amt .(Rs) Ceiling Max.Term ROI EMI PER LAC Basis of Calculation ANZ 1 Crore 85% 7 Years 14.25% 1930 Monthly Reducing CITIBANK 50 lacs 80% 7 Years 13.75% 1860 Daily Reducing HDFC 50 lacs 85% 7 Years 5 Years-11.5% FIX 11%Variable 7 Years -12% FIX 11.5% Variable 2284 2255 1826 1798 Annual Reducing HUDCO 50 lacs 85% 10 Years 13% 1494 Monthly Reducing ICICI 1 Crore 85% 5 Years 11.25% 2269 Annual Reducing LIC 50 lacs 75% 10 Years 13% 1536 Annual Reducing Citibank Loans are available only for NRI’s in the middle east. LIC will extend the term of the loan to 10 years for professionals. Ceiling refers to the maximum percentage of the propert value which will be funded by

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