Yes, a NRI/PIO/ OCI can freely acquire immovable property by way of gift either from
- a person resident in India; or
- NRI; or
- a PIO/OCI
However, the property can only be commercial or residential in nature. Agricultural land / plantation property / farm house in India cannot be acquired by way of gift.
- A foreign national of non-Indian origin resident outside India cannot acquire any immovable property in India by way of gift.