OCI cardholders are permitted to purchase and own property in India, subject to some restrictions. They can acquire residential and commercial property but not agricultural land, plantation property, or farmhouses. Nevertheless, they are allowed to inherit such property from relatives according to Indian inheritance law.
Important Rules for OCI Cardholders for Property in India:
1. Purchase of Property
- OCI cardholders are allowed to buy residential and commercial property without any limits.
- They cannot buy farmhouses, agricultural land, or plantation property.
2. Inherited Property
- They can inherit agricultural land of any type from their relatives or parents.
3. Renting Out Property
- OCI holders are allowed to rent out property and receive rental income in India.
