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IREF® - Indian Real Estate Forum > Real Estate Open House > NRI Real Estate > Sell land outside Mohali/Chandigarh and bring money to UK
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Old July 26 2012, 07:49 PM   #1
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Default Sell land outside Mohali/Chandigarh and bring money to UK

Hi i am an NRI living in UK. I have a prominent piece of land outside Mohali (more than half acre) on a main highway. I am looking to sell it in next 2-3 months and bring the proceeds of the money back to UK. At the moment it is agriculture land (in my name) but in next 4-5 months it will be in the city limits (hence many people looking to buy it). How do i bring the proceeds upwards of 3 Cr to UK and what will be the tax implications ? I am told if i sell it whilst it is agriculture i do not pay tax. Mind you this was bought a long time back and is not in default of rule where NRI's are not allowed to buy agriculture land.

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Old August 8 2012, 09:48 PM   #2
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Talk to some good CA in India. It will cost you may be 5000 rs but you will get correct advise.
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