Repatriation of sale proceeds of immovable property in India acquired by NRIs / PIOs

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....s, Repatriation of sale proceeds of immovable property in India acquired by NRIs / PIOs Attention of authorised dealers is invited to clause (iii) of sub-regulation (b) of Regulation 6 of Notification No. FEMA 21/2000-RB dated 3rd May 2000 read with Notification No. FEMA 65/2002-RB dated 29th June 2002 in terms of which, authorised dealers have been permitted to allow repatriation of sale procee....

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....by remitting funds from abroad or by debit to their NRE/FCNR accounts such repayments in foreign exchange of rupee loans obtained for acquiring residential accommodation may be treated as equivalent to foreign exchange received for the purpose of clause (iii) of sub-regulation (b) of Regulation 6 of Notification No.FEMA 21/2000-RB dated 3rd May 2000 referred to above, as amended from time to time.....