India, July 3 -- NRIs can buy property in India under the Foreign Exchange Management Act (FEMA), but only certain types. NRIs and OCI cardholders can buy residential and commercial properties in India without taking prior permission from the RBI. FEMA does not allow NRIs to buy agricultural land, plantations or farmhouses. These properties can only be received through inheritance in most cases.

FEMA is the main law that controls how NRIs buy, own and sell property in India. The RBI oversees these rules, and breaking them can lead to penalties. You do not need RBI approval for buying normal residential or commercial property. As long as the property is allowed under FEMA, NRIs can buy it directly, as noted by BestTaxInfo guide.

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