Repatriation of Sale Proceeds

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.... of the Act, or his successor shall not, except with the prior permission of the Reserve Bank, repatriate outside India the sale proceeds of any immovable property referred to in that sub-section; (b) In the event of sale of immovable property other than agricultural land/farm house /plantation property in India by a person resident outside India who is a citizen of India or a person of I....

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....erty; (iii) in the case of residential property, the repatriation of sale proceeds is restricted to not more than two such properties.] ^2[(c) In the event of failure in repayment of external commercial borrowing availed by a person resident in India under the provisions of the Foreign Exchange Management (Borrowing or Lending in Foreign Exchange) Regulations, 2000 (Notification No. FE....

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....of such immovable property or from the date of payment of final instalment of consideration for its acquisition, whichever is later; and ; (iii) 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 funds held in Foreign Currency Non-Resident Account or (b) the forei....