Legal Question in Real Estate Law in India

Dear Sir,

I am an NRI based in US employed in a software job. I have a residential property in India which I want to sell and repatriate the amount (after depositing tax accrued here in india) for buying a property in US. Please advise whether and how can I do it?


Asked on 9/02/11, 8:26 am

6 Answers from Attorneys

Sanjay Kalra Sanjay Kalra & Associates

Yes you can sell your residential property and also repatriate the amount to USA. Do you have NRE or NRO account in India ? Please clarify.

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Answered on 9/02/11, 9:18 am
Shrichand Nahar S.V.Nahar, Advocate

You need to check whether property was purchased while you were not NRI and out of funds/income earned in India OR property was purchased out of earning abroad and invested in property with prior approval.

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Answered on 9/02/11, 9:54 pm
Sanjay Kalra Sanjay Kalra & Associates

I forgot to ask you that are you on H1b Visa or a green card ? In all eventualities you can sell you property but to repatriate the amount to USA advice would be after getting answers to my queries.

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Answered on 9/03/11, 1:01 am
Vishwa Arya Arya & Co.

Oops! I have a different opinion. One can repatriate the sale proceeds If and Only If the property was purchased with funds from abroad (or funds out of NRE account). There is no restriction on selling the property.

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Answered on 9/03/11, 4:19 am
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

you can sell the property on the basis of GPA but for repatriation of funds would be done only after you satisfy RBI guidelines in this regard.

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Answered on 9/06/11, 2:19 am
KarVai Legal Solutions Rajiv Gupta 9811284735 Ch.No: 359, Western Wing, Tis Hazari, Delhi www.karvai.in

i too agree with Mr. Rajiv Gupta

RBI guidelines need to be fulfilled....

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Answered on 9/06/11, 2:22 am


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