The buyer can approach Consumer Courts or the RERA Authority; both forums have concurrent jurisdiction.
FAQ Category: Services
When can NRIs repatriate their current income earned in India?
NRIs can repatriate their current income in the current financial year in which the income is earned or in the subsequent financial year.
Can NRIs repatriate funds from the sale of property in India?
This repatriation is restricted to the sale proceeds of two residential properties in India or up to USD 1 million.
What documents are required for repatriation?
Various documents, such as; Bank request Form, Form A2, Form-15 CA, Form-15 CB, etc., must be submitted for the repatriation of funds.
What is the limit on repatriating funds from the NRO bank account?
You can repatriate up to 1 million USD in one financial year from your NRO account.
What type of funds are held in the NRE bank account?
NRE bank account holds funds for income generated outside India. The balance in the NRE bank account is in the Indian currency denomination. There is no limitation on repatriation from the NRE bank account.
Can NRIs open their accounts with any bank in India?
The NRI can only open his bank account with RBI-authorised dealers/Banks.
Are NRIs free to open any bank account in India?
An NRI can open Non-Resident External Account, Non-Resident Ordinary Account and Foreign Currency Non-Resident Account.
What is the repatriation of funds?
Repatriation of funds refers to transferring funds held by an NRI from his Indian bank account to bank account of country of his current residence.