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• How to bring money to us after selling a property in India?

Prior to transferring funds from India to the US you'll need to complete Form 15CB, and your bank will ask you to provide proof of the source of the money, such as a copy of the property sale agreement.

• As a NRI it may not be convenient to return to India to complete the sale of your property personally. In this case you can arrange a power of attorney through your closest Indian embassy or consulate in the US.

  Through this arrangement you can have your chosen representative in India complete all the steps required for the property sale without your presence being required

• https://www.mea.gov.in/images/pdf/acquisition-and-transfer-of-immovable-property-in-india.

• A person resident outside India who is a person of Indian Origin (PIO) can acquire any immovable property in India other than agricultural land / farm house / plantation property:- 

• A PIO may transfer any immoveable property other than agricultural land / Plantation property / farm house in India a) By way of sale to a person resident in India. b) By way of gift to a person resident in India or a Non resident Indian or a PIO

• Repatriation of sale proceeds In the event of sale of immovable property other than agricultural land / farm house / plantation property in India by NRI / PIO, the authorized dealer will allow repatriation of sale proceeds outside India provided; i. The immovable property was acquired by the seller in accordance with the provisions of the foreign exchange law in force at the time of acquisition by him or the provisions of FEMA Regulations; ii. The amount to be repatriated does not exceed (a) the amount paid for acquisition of the immovable property in foreign exchange received through normal banking channels or out of fund held in Foreign currency Non-Resident Account or (b) the foreign currency equivalent as on the date of payment, of the amount paid where such payment was made from the funds held in Non-Resident External account for acquisition of the property. iii. In the case of residential property, the repatriation of sale proceeds is restricted to not more than two such properties. 

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• A3. No. An NRI / PIO who has purchased residential/commercial property under general permission, is not required to file any documents with the Reserve Bank.

• Q.4. How many residential/commercial properties can NRI/PIO purchase under the general permission? A4. There are no restrictions on the number of residential/commercial properties that can be purchased. 

• (b) PIO can sell property in India toi) a person resident in India. ii) an NRI or iii) a PIO - with the prior approval of Reserve Bank 

•  How can an NRI/PIO make payment for purchase of residential/commercial property in India? A17. Payment can be made by NRI/ PIO out of (a) funds remitted to India through normal banking channel or (b) funds held in NRE/ FCNR (B)/ NRO account maintained in India No payment can be made either by traveller's cheque or by foreign currency notes. No payment can be made outside India

• Can NRI/PIO avail of loan from an authorised dealer for acquiring flat/ house in India for his own residential use against the security of funds held in his NRE Fixed Deposit account/ FCNR (B) account? A19. Yes, such loans are subject to the terms and conditions as laid down in Schedules 1 and 2 to Notification No. FEMA 5/2000-RB dated May 3, 2000 as amended from time to time. However, banks cannot grant fresh loans or renew 

• existing loans in excess of Rupees 20 lakh against NRE and FCNR(B) deposits either to the depositors or to third parties [cf. A.P. (DIR Series) Circular No. 29 dated January 31, 2007]. 

• Repatriation (a). In case the amount has been received from inward remittance or debit to NRE / FCNR (B)/NRO account for acquiring the property or for repayment of the loan, the principal amount can be repatriated outside India.

• For this purpose, repatriation outside India means the buying or drawing of foreign exchange from an authorised dealer in India and remitting it outside India through normal banking channels or crediting it to an account denominated in foreign currency or to an account in Indian currency maintained with an authorised dealer from which it can be converted in foreign currency 

• NRI/PIO are also allowed by the Authorised Dealers to repatriate an amount up to USD 1 million per financial year out of the balance in the NRO account for all bonafide purposes to the satisfaction of the authorised dealers, subject to tax compliance. Q.20. Can NRI/PIO, avail of housing loan in rupees from an

• Q.22. Can NRI/PIO repatriate the sale proceeds of immovable property? If so, what are the terms? A22. NRI/ PIO may repatriate the sale proceeds of immovable property in India (a) If the property was acquired out of foreign exchange sources i.e. remitted through normal banking channels I by debit to 'NRE I FCNR (B) account The amount to be repatriated should not exceed the amount paid for the property: 1. in foreign exchange received through normal banking channel or 2. by debit to NRE account(foreign currency equivalent, as on the date of payment) or debit to FCNR (B) account. Repatriation of sale proceeds of residential property purchased by NRI/ PIO out of foreign exchange is restricted to not more than two such properties. Capital gains, if any, may be credited to the NRO account from where the NRI/PIO may repatriate an amount up to USD one million, per financial year, as discussed below. 

• Q.23. Can an NRI/PIO repatriate the proceeds in case the sale proceed was deposited in NRO account? A23. From the NRO account, NRI/PIO may repatriate up to USD one million per financial year (April-March), which would also include the sale proceeds of immovable property. 

• Q.24. If a Rupee loan was taken by NRI/PIO from Authorised Dealer or housing finance institution for purchase of residential property can an NRI/ PIO repatriate the sale proceeds of such property? A.24. Yes, provided the loan has been subsequently repaid by remitting funds from abroad or by debit to NRE/FCNR (B) accounts (Please see AP. (DIR) Series Circular No. 101 dated 5.5.2003) 

• Q.25. If the property was purchased from foreign inward remittance or from NRE I FCNR (B) account, can the sale proceeds of property be repatriated immediately? A25. Yes

• Q.30. Can NRI/PIO rent out the residential commercial property purchased out of foreign exchange / rupee funds? A.30. Yes, NRI/PIO can rent out the property without the approval of the Reserve Bank. Rent received can be credited to NRO, NRE account or remitted abroad. Powers have been delegated to the Authorised Dealers to allow repatriation of current income like rent, dividend, pension, interest, etc. of NRls/PIO who do not maintain an NRO account in India based on an appropriate certification by a Chartered Accountant, certifying that the amount proposed to be remitted is eligible for remittance and that applicable taxes have been paid/provided for. [cf. AP. (DIR Series) Circular No. 45 dated May 14, 2002]. Q.31. Can a person who had bough

• Q.30. Can NRI/PIO rent out the residential commercial property purchased out of foreign exchange / rupee funds? A.30. Yes, NRI/PIO can rent out the property without the approval of the Reserve Bank. Rent received can be credited to NRO, NRE account or remitted abroad. Powers have been delegated to the Authorised Dealers to allow repatriation of current income like rent, dividend, pension, interest, etc. of NRls/PIO who do not maintain an NRO account in India based on an appropriate certification by a Chartered Accountant, certifying that the amount proposed to be remitted is eligible for remittance and that applicable taxes have been paid/provided for. [cf. AP. (DIR Series) Circular No. 45 dated May 14, 2002].