There is no restriction placed on the acquisition or sale of residential property by an NRI. However, there are restrictions with respect to the repatriation of funds. RBI rules permit the repatriation of up to USD 1 Million per year from an NRO account. An NRI couple can therefore repatriate up to USD 2 million per year (1 million per person). NRI investors who wish to invest more than that should consult their professional advisers to find alternative means to execute the transaction.
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