How can an NRI make payment for the purchase of residential property in India

Question: How can an NRI make payment for the purchase of residential property in India?

Answer(s)

Raju Kanumuri: Payment can be made by NRI / PIO out of :

Funds remitted to India through normal banking channels or
Funds held in NRE / FCNR (B) / NRO account maintained in India

No payment can be made either by traveler's cheque or by foreign currency notes or by another mode except those specifically mentioned above.

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