How NRIs Repatriate Property Sale Proceeds From India (USD 1 Million Limit Explained)

Selling a Dholera plot is only half the journey for an overseas owner. The other half is getting the money out of India legally. This is governed by FEMA and the Reserve Bank of India, and the process is very doable once you understand the two ideas that run through it: how the property was originally funded, and the overall USD 1 million per financial year ceiling on remittances from an NRO account. Get those two right, pay the tax, file the correct forms, and the money moves.

DholeraPulse is an independent reference desk. It does not sell plots or handle anyone's money. This entry explains the general repatriation framework. It is not personal tax, legal or financial advice, and limits and rules change, so confirm the current position with a Chartered Accountant and your bank before acting.

Two routes: NRE/FCNR-funded versus NRO

The rules split by how you paid in the first place. If you bought the property using foreign funds routed through an NRE or FCNR account, the repatriation of the amount originally paid is generally allowed, but this direct repatriation of the purchase consideration is limited to two residential properties. If you bought using rupee funds through an NRO account, or you are dealing with gains and amounts above the original foreign-funded cost, the money is treated as NRO balance and goes out under the USD 1 million window described below. Understanding which bucket your sale falls into is the first step. The funding side is covered in paying through NRE and NRO accounts.

The USD 1 million per year ceiling

The core rule most sellers rely on is this: an NRI can remit up to USD 1 million per financial year out of the balances in their NRO account, which includes sale proceeds of property, subject to payment of applicable taxes. This ceiling is per person per financial year and covers the aggregate of remittances from the NRO account, not just one property. If a sale leaves you with more than a million dollars to move in a single year, the balance can generally be carried to the next financial year and remitted then, within that year's fresh limit.

Tax comes before the transfer

You cannot remit until the tax position is settled. When an NRI sells Indian property, the buyer is required to deduct tax at source (TDS) on the sale, and the seller's final liability is worked out through capital gains rules. The bank will not process an outward remittance of sale proceeds unless it is satisfied the tax has been handled. The two related entries explain this in detail: TDS on an NRI property sale and capital gains tax on a Dholera plot. Where the TDS deducted is higher than the real gain, an NRI can apply for a lower or nil deduction certificate under section 197 to avoid locking up cash.

Forms 15CA and 15CB

Any remittance of taxable money out of India generally needs two forms. Form 15CB is a certificate from a Chartered Accountant confirming the nature of the payment and that the correct tax has been deducted or paid. Form 15CA is the declaration the remitter files with the tax department, drawing on the 15CB certificate. The bank, acting as the authorised dealer, uses these to release the funds. Keep the sale deed, proof of purchase funding, TDS challans and the capital gains computation ready, because the CA needs them to issue 15CB.

1. Complete the sale and registration, and obtain your TDS certificate (Form 16A) from the buyer.
2. Compute capital gains and settle any balance tax, or apply under section 197 for a lower-deduction certificate in advance.
3. Engage a Chartered Accountant to issue Form 15CB.
4. File Form 15CA online, referencing the 15CB.
5. Instruct your authorised dealer bank to remit from the NRO account within the USD 1 million financial-year ceiling.

What an overseas Dholera seller should line up

If you own a Dholera plot and plan to sell one day, the repatriation is easier if the paperwork was clean from the start. Keep evidence of how you funded the purchase, whether it came through an NRE, FCNR or NRO account, because that determines which repatriation bucket applies. Keep the registered sale deed and the record of Non-Agricultural status, since an NRI can only hold and sell eligible non-agricultural property in the first place, a point covered in FEMA rules for NRIs. For where value tends to concentrate, see how Dholera plot prices work.

Frequently asked questions