Realty firms gain as govt eases FDI norms for construction
The government has eased foreign direct investment rules for the construction sector to attract more money into the country to build new hotels, housing and townships
Dec 04, 2014
Source : Business Standard


Mumbai: Realty companies have gained between 1% to 3% on boosted by government's decision to lower built-up area and minimum capital requirements which need to be met by construction companies before accepting any foreign investments.
The government has eased foreign direct investment rules for the construction sector to attract more money into the country to build new hotels, housing and townships.
has taken the lead with a gain of more than 3.5% followed by Projects, up 1.5%, HDIL, up 1.4% and Oberoi Realty, up 1%.
Under the new rules, foreign investment is now allowed in projects with a minimum built area of 20,000 square metres, down from a previous 50,000 threshold. The minimum capital investment by foreign companies has also been halved to $5 million, the government said in a statement.
Government has already allowed 100% foreign direct investments (FDI) in the realty sector with certain conditions like the lock-in period of three years during which the investments cannot be repatriated.
The realty sector received around $ 1.2 billion in the form of FDI in the last financial year which ended on 31st March, 2014. In the preceding financial year the figure was $1.3 billion.
This decision by government will help early realization of PM Modi's ambitious plan to build 100 'smart cities' by 2020.

BSE Realty index is up 0.3% at 10:19 hrs.

Latest Realty News

Government should allot 2.5 FSI to prevent unauthorized constructions in PCMC limits: MLA Laxman Jag...
Dec 04, 2014
PUNE: Newly elected MLA from Chinchwad constituency, Laxman Jagtap has urged the state government to allot 2.5 FSI in Pimpri Chinchwad municipal limits to prevent the growth of unauthorized constructions
Housing boom thrives on EWS plots
Dec 04, 2014
GURGAON: Behind the steel and glass buildings that dominate the Cyber City skyline lies a cluster of plots in DLF Phase 3 that were originally meant for houses for economically weaker sections
HC notice to govt for multiple plot allotments
Dec 04, 2014
CHANDIGARH: Punjab and Haryana high court issued notice to the state government to file its reply regarding multiple plot allotments
Centre to reply on DLF project
Dec 04, 2014
NEW DELHI: Under what circumstances was change of land use permitted to a dairy farm for residential purposes to benefit a project by realty giant DLF
Realty rule boost to realtors
Dec 04, 2014
Patna: The resurgence of the realty sector after almost two years of lull looks imminent with the cabinet's approval to the Bihar Building Byelaws 2014
Sahara Group likely to sell Rs 1,200 crore land to realty company M3M India Ltd
Dec 04, 2014
NEW DELHI: Sahara group is believed to be selling a large land parcel for over Rs 1,200 crore in the outskirts of the national capital to Gurgaon-based realty firm M3M India Ltd
ED attaches Rs 158 Cr. Seashore property
Dec 04, 2014
BHUBANESWAR: A week after attaching Rose Valley Group's Rs 295 crore bank balance, the Enforcement Directorate (ED) attached Seashore Group's assets worth over Rs 158 crore
DLF plans to sell 50% in Cyber City to raise over Rs 3500 crore
Dec 04, 2014
Mumbai: Real estate major, DLF has initiated a process to sell 50% of its subsidiary, DLF Cyber City Developers (DCCD) to raise over Rs 3,500 crores
Essel Group acquires Rs 400 crore worth property in Mumbai
Dec 04, 2014
MUMBAI: The city's second-biggest ever office purchase marks stunning recovery from lows for its beleaguered commercial property market
Takers for DDA flats despite 5-year rule
Dec 04, 2014
NEW DELHI: Despite DDA's best efforts to keep speculators out of their latest housing scheme, successful applicants are receiving offers for their flats based on a General-Power-of-Attorney (GPA) transfer of rights

Latest Realty News Of State

Realty Talk's