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If a Rupee loan was taken by NRI/ PIO from Authorised Dealer or housing fnance institution for purchase of residential property can an NRI/ PIO repatriate the sale proceeds of such property?

April 26, 2017authorised Dealer HOUSING institution loan NRI PIO rupee

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If a Rupee loan was taken by NRI/ PIO from Authorised Dealer or housing fnance institution for purchase of residential property can an NRI/ PIO repatriate the sale proceeds of such property?

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A.24. Yes, provided the loan has been subsequently repaid by remitting funds from abroad or by debit to NRE/FCNR (B) accounts (Please see A P. (DIR) Series Circular No. 101 dated 5.5.