A person had bought immovable property, when he/she was a resident of India, Can he/she continue to hold such property even after becoming an OCI card holder? Can he/she gift such properties? Can he/she rent out such property?

• Yes, he/she may continue to hold the immovable property under holding license obtained from the Reserve Bank.
  
• However, he/she can transfer the property only with the prior approval of the Reserve Bank of India. For more details,check the website of the Reserve Bank of India: https://www.rbi.org.in/scripts/FAQ