An article on the issue whether an NRI,OCI card holder, who is a Foreign National is entitled to acquire and transfer an immovable property in India and after acquisition of any immovable property particularly the property under the co-operative Housing society in West Bengal, that person can be a member of co-operative Housing Society and owner of the flat and/or immovable property, by virtue of acquiring the flat either by way of purchase or by way of inheritance.
Before going into the depth of the subject matter I have to discuss what is the meaning of “NRI”,” OCI” in terms of Acquisition and Transfer of any Immovable property…