Q. What are the restrictions to repatriation of sale proceeds of residential property purchased by NRIs / PIO out of foreign exchange?

A. Repatriation of sale proceeds of residential property purchased by NRI / PIO is permitted to the extent of the amount paid for acquisition of immovable property in foreign exchange received through banking channels. The facility is restricted to not more than two such properties. The balance amount can be credited to the NRO account and can be remitted under USD one million facility

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