NRIs CAN CASH OUT OF INDIAN REAL ESTATE

NRIs (Non resident Indians) can now not only cash out on the property they hold in India but have also been provided an incentive to invest in real estate. This has been made possible by the Reserve Bank of India allowing NRIs to remit the proceeds from the sale of immovable property. The RBI
has lifted the 10-year lock- in as a step towards further liberalization of the capital account.