FDI faces easier compliance norms

Q: Hi, i heard that Housing and commercial complexes seeking foreign direct investment??Kindly discuss !

Sooraj, Ghaziabad

7th November 2013

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Replies (4)

Does this means there will be no further delay of possession date? Projects will be delivered on time?

Mukhesh, Noida

7th November 2013

Comment

Yes Mukhesh the developer will have to complete the entire project before the end of five years of getting all clearances. The note also reduced the minimum requirement for land for a serviced housing project to five from 10 hectares. So happy news for home buyers :)

Geeta, Noida

7th November 2013

So what is the recent statics the builders has to follow in terms of carpet area?

Kasturi, Noida

7th November 2013

I guess the policy says the construction of the projects should be of minimum 20,000 square meter carpet area now which was 50,000 sq meter and more earlier.

Wahi, Noida

7th November 2013

So what is the change being an consumer do i have to face for the new changed policy?

Sekhar, Noida

7th November 2013

Comment

Hmm Shekar i guess we have to focus on carpet area for sale which has till now had been ambiguously sold as super area or super built-up area. This is a the change we have to care of!

Hritwik, Noida

7th November 2013

Guys whatever the story is i feel the relaxation has come with a push back force as earlier, at least 50% of each such project had to be developed within a period of five years from the date of obtaining all statutory clearances.

Saran, Noida

7th November 2013

Folk I guess this is the first ever time the concept of built-up area is as defined in the the Real Estate (Regulation and Development) Bill to restrain the unfair practices.

Chandra, Noida

7th November 2013

Comment

Yes, this is todays news which states that housing and commercial complexes are looking for foreign direct investment. This is because the norms have become more easier to adapt. Recently the department of industrial policy and promotion issued a policy document to the Cabinet for approval. This documents states that FDI rules for construction development will be eased!

Mohit, Ghaziabad

7th November 2013

Comment

Mohit that is a good news, but any idea what is the take of Government regrading the policy?

Sonia, Gurgaon

7th November 2013

See Sonia.. policy amendment is a tough job yet what ever the info i have is the Cabinet is looking for ward to reduce the minimum capitalisation of $10 million for wholly owned subsidiaries and $5 million for joint ventures with Indian partners to $5 million and $2.5 million.

Mohit, Ghaziabad

7th November 2013