Repatriation of funds from sale of property by NRI

NRI sale of propertyOn sale of a property, an NRI can repatriate the initial purchase amount. The balance, if any, can be repatriated upto a general limit per financial year.

eg: If an NRI purchased a property for Rs. 50 lakhs. Lets say the exchange rate prevailing at that time was 50, and the property was purchased for USD USD 100,000. Now, the property is sold for Rs. 85 lakhs. The current exchange rate is 65. The NRI can repatriate the original USD amount – USD 100,000 which is now Rs. 65 lakhs. The surplus money, which is Rs 20 lakhs can be repatriated under the general limit of repatriation of Rs 10 lakh per financial year.