I am a citizen of UK and I plan to purchase agricultural land in India. In order to buy farm land in India I need permission from Reserve Bank of India. Can you help to obtain permission from RBI? Thank you.
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According to ‘FEMA’ Foreign Exchange Management Act”, NRIs cannot buy agricultural land in India. There is no restriction on NRIs for buying residential or commercial property in India but there is no provision where they can buy agricultural land in India.
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