An NRI person or a PIO can inherit a property in India from someone else under certain terms and conditions by RBI. The immovable property can be either a commercial or a residential property. It can even be agricultural land or a farmhouse. The NRI can inherit a property from an another NRI subject to certain conditions put forward by RBI.
An NRI person is allowed to gift away the inherited property or sell it to someone else who is a resident in India or PIO (Person of Indian Origin) or NRI. To sell the inherited to another PIO/ NRI, he has to get permission from RBI to sell the property.
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