Overseas Indians willing to sell property in India can remit the
proceeds of the sale back to their home country, provided the
consideration received from the sale is not more than the amount
invested by him at the time of purchase. Moreover, the individual
can not transfer proceeds of more than two properties outside
the country.
Acquisition /Selling/Transfer of Property in India by
an Indian citizen resident outside India
A person resident outside India, but is still a citizen
of India, can
-
acquire any residential or commercial
property in India
-
transfer any immovable property to a
person resident in India
-
transfer any immovable property other
than agricultural/plantation property/farmhouse to a person
resident outside India or to a person of Indian origin resident
outside India. Many people transfer property as part of their plan for retirement. However, you need to be aware of the pension systems in the country where you live (and plan to retire) to avoid financial mistakes. In the case of Australia, for example, pension transfers are regulated. To learn more about it, Click Here
Acquisition / Transfer of Property in India by a Person
of Indian Origin
-
A PIO can acquire immovable property
as a gift or an inheritance from an Indian resident or an NRI
or a PIO
-
A PIO can acquire immovable property
from a PIO who had acquired the property from a resident Indian
who had, in turn, acquired it as per the foreign exchange laws
prevailing at the time.
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A PIO can sell property to a resident
Indian, including agricultural and farmland property
-
A PIO can gift residential or commercial
property to a resident Indian or to NRI or a PIO
