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Whether immovable property in India can be acquired by NRI/PIO by way of gift?

April 26, 2017acquired gift immovable India NRI PIO Property

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Whether immovable property in India can be acquired by NRI/PIO by way of gift?

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Ans. Yes, NRIs and PIOs can freely acquire immovable properties by way of gift from (a) a person resident in India or (b) an NRI or (c) PIO. However, property can only be residential or commercial. Agricultural land / plantation property / farm house in India cannot be acquired by way of gift.