Also check out in this section... Aquisition of Immovable property Sale of Immovable property Letting out Immovable property Income From House property Do's and Don'ts of Buying a Real Estate

Letting Out Immovable Property

The RBI has granted general permission to NRI's and foreign citizens of Indian origin, to let out their residential properties acquired for their bonafied residential purpose but which on account of their residence abroad, are not required for their immediate residential purpose.

However, there are restrictions regarding the repatriation of the rental income earned from such letting out of the property. The rental income is on a non-repatriation basis. Thus funds ( rental income ) must be credited to the NRO Account/ Resident Accounts in India.