For NRIs, understanding the rules for repatriating funds after selling property in Chennai—and the laws around inheriting Indian real estate—is essential for a smooth, compliant experience. This guide explains RBI limits, documentation, and the step-by-step process for both repatriation and inheritance.
NRIs can repatriate up to USD 1 million per financial year from property sale proceeds, including all other eligible assets, provided the property was acquired in accordance with FEMA regulations.
The property must have been purchased using funds from an NRE/FCNR account or via inward remittance.
All taxes, including capital gains tax, must be paid before repatriation.
For official guidelines, visit RBI’s NRI property rules.
1. Sale of Property: Complete the sale through legal channels, ensuring all documentation is in order.
2. Tax Clearance: Pay applicable capital gains tax and obtain a certificate from a chartered accountant (Form 15CB) and file Form 15CA online.
3. Submit Documents to Bank: Provide sale deed, tax payment proof, and CA certificate to your bank.
4. Repatriation Request: The bank will process your request and remit funds abroad, up to the USD 1 million limit per financial year.
For more on tax, see NRI Taxation Guide.
Rental income from property in India can be repatriated after payment of taxes.
The process is similar: pay tax, obtain CA certificate, and submit documents to your bank.
For rental income tips, read Ready to Increase Your Rental Income?.
NRIs can inherit any immovable property in India, including agricultural land, plantation property, or farmhouses.
Inherited property can be sold, and the proceeds repatriated (subject to RBI limits and tax compliance).
The inheritance must be through a will or as per Indian succession laws.
See NRI Legal & Regulatory Guide for legal steps.
Proof of purchase and payment (sale deed, bank statements)
Tax payment receipts and CA certificate (Form 15CB)
PAN card
Proof of inheritance (will, succession certificate, or legal heir certificate)
NRE/NRO account details
A simplified comparison of the repatriation and inheritance process for NRIs dealing with property income or ownership in Chennai.
Repatriation is allowed only for two residential properties per NRI.
Agricultural land, plantation property, and farmhouses can only be inherited, not purchased by NRIs.
All transactions must comply with FEMA and RBI rules.
For property types, see Types of Properties NRIs Can Buy in India.
Not paying capital gains tax before repatriation
Missing documentation (especially CA certificate)
Exceeding the annual repatriation limit
Ignoring inheritance legalities and succession planning
For inheritance planning, read Home Buying Myths Busted: What Every Buyer Needs to Know.
NRI Property Buying Guide: Chennai Investment Trends, New Rules & Smart Tips
For expert help with repatriation, inheritance, and property transactions, contact DRA Homes. Our team ensures every NRI enjoys a compliant and seamless experience in Chennai real estate.
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