Can an NRI buy any property in India?

NRIs, PIOs and OCIs can buy unlimited residential and commercial property without RBI approval. Agricultural land, plantation property and farmhouses are prohibited unless inherited, and the state revenue department's classification controls, not the seller's description or current use.

How much can an NRI repatriate from India in a year?

From NRO funds, Indian income, sale proceeds and inheritance, the limit is $1 million per financial year, applied cumulatively across all categories. Property bought with NRE funds qualifies for full repatriation of sale proceeds, subject to a lifetime cap of two residential properties.

What is the difference between the $1 million and $250,000 limits?

The $1 million annual facility is for NRIs moving NRO funds out of India. The $250,000 LRS limit applies only to resident Indians sending money abroad, so if you return to India and become a resident again, your outward remittance ceiling drops from $1 million to $250,000.

What documents are needed to repatriate property sale proceeds?

Most taxable outward remittances require Form 15CA (the remitter's declaration) and, for property sale proceeds, Form 15CB (a Chartered Accountant's certificate confirming tax compliance). Skipping these on remittances above ₹5 lakh triggers a penalty and the bank will block the transfer.