NRI inherited property: What can you sell & remit?
For Non-Resident Indians (NRIs), inheriting property in India is possible, but selling it and repatriating the proceeds requires careful consideration of specific rules. The property type, buyer, and acquisition method can influence the sale and repatriation process. NRIs can generally sell inherited residential or commercial properties to a resident Indian, another NRI, or an OCI.
However, restrictions apply to agricultural land, plantation properties, and farmhouses. The sale proceeds cannot be freely repatriated outside India without adhering to specific guidelines set by the Foreign Exchange Management (Remittance of Assets) Regulations, 2016, and RBI Master Directions.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
