Fema violation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 July 2012
An NRI purchased agricultural land in India without the permission of RBI. What are the cosequences? Is there any redressal options? Plsssssss help.
Amol S Joglekar
(Expert)
27 July 2012
Let us talk this in INDIAN context. In many states of INDIA, there is a rule that a NON AGRICULTURIST can NOT buy agricultural LAND. In spite of that people buy it. Subsequently, sellers get the collector non agricultural use permissions. This has been happening for hectares of LAND BANKs. Now the answer to your question could be.... legal consequences could be HARSH. But when many people are buying acres of farm houses, majority will prevail. No tensions.
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