Question asked from Mathi Jay from Chennai, India:
I have procured a flat in Chennai, India. Paid 70% thru foreign remittance (for which have proof). Planning to sell the same, how soon can I repatriate the dollar amount I put in? If I submit the proof of the wire transfers, can I get them repatriated as soon as I sell? Also note my first dollar payment was in Jan 2007 and the last dollar payment in Sep 2008. If the sale proceeds were to be in Indian Rupees, what type of account should I put in to have it repatriated at the earliest? If I put it in a NRO in a foreign bank (e.g. citi), can I get them repatriated immediately if I produce certificates of foreign wire transfer?
Thanks
Mathi Jay
Thanks
Mathi Jay
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