Is sale proceeds of immovable property in India repatriable?
Ans. Sale proceeds of immovable property acquired in India to the extent of repatriable funds (i.e. original foreign exchange amount remitted or amount paid out of FCNR(B) deposit and NRE account) used for acquiring the property, upto two residential properties is repatriable. The balance amount (surplus over original investment amount) will be repatriable through NRO account subject to compliance with certain conditions.
Related Questions
- Can sale proceeds of any immovable property in India inherited, by a person resident outside India (i.e. NRI or PIO or foreign national of non-Indian origin resident outside India), from a person resident outside India be repatriated by him or his successor?
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- Is sale proceeds of immovable property in India repatriable?
