New Delhi, Dec 06, 2014
The government’s latest move to do away with the three year lock in for foreign investors engaged in construction projects is a step in the right direction and has done away with a major deterrent. With foreign investors now allowed to exit projects even before completion, sizeable investments are expected to flow into the country’s real estate sector.
The easing of FDI norms is a clear invitation to overseas investors, including cash rich PIOs, to invest in this promising sector. The ease in rules for exist clause will be an added sweetener for foreign players as it will provide them the flexibility to move from one project to another effortlessly. 100% FDI in construction sector will create new avenues such as employment generation right from unskilled labours to architects and interior designers, added infrastructure and number of other related industries. With the government trying to introduce developer and buyer friendly policies, the outlook for the real estate sector in coming year does look promising. According to . Aman Singh Gehlot, Director, Ambience Group
