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Best Answer: You can buy a property in India however not agricultural or plantation properties. Once you hold a British passport you are required to renounce your Indian citizenship since your country does not allow dual citizenship.
But can you use your Individual Retirement Account (IRA) money to buy a home? The answer is yes. You can, and in some cases you can do so penalty-free. If your employer and the plan permit, first-time buyers can take advantage of the hardship rule of early IRA withdrawal.ou can, however, use it to buy a primary residence for yourself, and in some cases, you can buy residences for family members, too. The home can be for your spouse, your child or your grandchild, or it may be for your spouse's child or grandchild (in the case of remarriage).