Nre transaction
This query is : Resolved
07 April 2016
Respected Sir,
The transaction involves NRI buying a property in India. The property has black and white component 40% black and 60% white. The property will be funded by bank on 75% of the loan Amount . So effectively the black and white ratio becomes 50% of the property value.
The black component will be sourced the NRE account.
In case of sale of the property in future can the whole proceedings be repatriated in NRE Account ?
Thanking you
The transaction involves NRI buying a property in India. The property has black and white component 40% black and 60% white. The property will be funded by bank on 75% of the loan Amount . So effectively the black and white ratio becomes 50% of the property value.
The black component will be sourced the NRE account.
In case of sale of the property in future can the whole proceedings be repatriated in NRE Account ?
Thanking you
07 April 2016
Only white component sourced from NRE account can be repatriated.
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