Property Law

Important Excerpts of Tamil Nadu Land Reforms 1

Important Excerpts of Tamil Nadu Land Reforms – Act 1961

The Tamil Nadu Land Reforms (Fixation of Ceiling on Land) Act 1961 came into force on 6.4.1960. According to this, the maximum extent that one family of five members could hold was fixed as 30 (Thirty) Standard acres. For every additional member in the family, additionally five standard acre were allowed subject to a maximum of 60 (Sixty) standard acres. Any female member having stridhana property was allowed to keep up to ten standard acres (as on 2.10.1962). The Ceiling area
NRI-Investing

Rights of NRI to buy Properties in India

Acquisition of immovable property in India by persons resident outside India (foreign national) is regulated in terms of section 6 (3) (i) of the Foreign Exchange Management Act (FEMA), 1999 as well as by the regulations contained in the Notification No. FEMA 21/2000-RB dated May 3, 2000, as amended from time to time. Section 2 (v) and Section 2 (w) of FEMA, 1999 defines `person resident in India’ and a `person resident outside India’, respectively. Person resident outside India is categorized