New Delhi, November 19, 2015: Comments of Mr. Vineet Relia, Mananging Director, SARE Homes on new developments in FDI policy in construction projects.“The foreign investment boost would open up gates of investment in the cash starved sector and accelerate development of stagnant projects. Provision for foreign investors to invest in phase-wise development of projects and the ability to exit and repatriate investments is a strategic change for the sector where most projects get stuck owing to government approvals and funding. This would bring down the investment window for projects. The removal of minimum capital investment of $5 million and floor area restriction of 20,000 sq. mtrs will help in enhancing the return profile for the investors. This development has also provided clarity of FDI in Greenfield projects where a foreign investor can now partner with an existing Indian entity and exit the project after a minimum of 3 year lock-in period. The sector is finally witnessing the expected change and we can expect substantial improvement in delayed projects.”
Corporate Comm India(CCI Newswire)
Corporate Comm India(CCI Newswire)
