Can NRIs purchase immovable properties out of NRO accounts?

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Can NRIs purchase immovable properties out of NRO accounts?

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Ans. NRIs are free to purchase immovable properties out of NRO accounts. But there is a restriction upon repatriating the sale proceeds of such properties, NRIs can repatriate sale proceeds upto USD 1 million out of NRO account for property held for more than 10 years.

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