LRS – Can be used to acquire Real Estate outside India

It was decided vide A.P. (DIR Series) Circular No. 138 dated June 3, 2014, to increase the limit of Liberalised Remittance Scheme (LRS) for all resident Indian Indivisiual to USD 125,000 per financial year (April-March) from USD 75,000. Further, it is clarified that the Scheme can now be used also acquisition of immovable property outside India.