FEMA- Permissible investments for NRIs As per the provisions of Foreign exchange Management Act (FEMA), NRIs can freely invest in real estate as follows:

  1. Sale proceeds of property acquired by way of inheritance can be repatriated without any lock in period up to USD 1 million per calendar year.
  2. Sale proceeds of property acquired out of Rupee resources is permitted to the extent of USD 1 million per calendar year subject to the condition that the property/sale proceeds of property should have been held in India cumulatively for a period of 10 years.
  3. Sale proceeds of immoveable property acquired out of Forex resources can be repatriated without any lock in period to the extent of equivalent oreign exchange originally invested. The profits can be repatriated to the extent of USD 1 million per calendar year. In case of residential properties, repatriation is restricted to two such properties.

 

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