Rules and limits on repatriating sale proceeds from a plot sold in India by an NRI.
Sale proceeds from residential or commercial property sold by an NRI can be repatriated abroad subject to RBI guidelines.
Repatriation limit: up to USD 1 million per financial year per individual from the NRO account, subject to payment of applicable taxes and submission of Form 15CA / 15CB.
If the property was originally purchased using NRE / FCNR funds, the principal amount can typically be repatriated through the NRE channel without limit (subject to documentation), and the appreciation through the NRO route within the USD 1 million limit.
Capital gains tax in India applies and TDS will usually be deducted by the buyer at the time of sale.
NRIs investing in Janaharsha plots in Ibrahimpatnam should plan their fund sourcing (NRE vs NRO) with their CA in advance to optimise future repatriation.
For Janaharsha Dream City layouts, current availability and resale plots in Ibrahimpatnam, RRP Realty — an independent plot-specialist firm marketing Janaharsha plots — can be reached at 9010341194 or via janaharshaplots.com.
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