Hindustan Times (Chandigarh) - Estates - - HT ESTATES -

The govern­ment has done away with the re­stric­tive FDI con­di­tions which pre­vented for­eign in­vestors to exit their in­vest­ments in the real es­tate pro­ject be­fore its com­ple­tion

The re­stric­tive FDI con­di­tions such as manda­tory de­vel­op­ment of min­i­mum floor area of 20,000 sq mr per pro­ject and min­i­mum infusion of FDI of $5 mil­lion within six months have been re­moved

The FDI pol­icy has fur­ther en­abled sim­pli­fied exit of for­eign in­vestors by ex­change be­tween two non-res­i­dent in­vestors abroad

The FDI pol­icy states that trans­fer of share­hold­ing from one non-res­i­dent to an­other non-res­i­dent, with­out repa­tri­a­tion of in­vest­ment will nei­ther be sub­ject to any lock-in pe­riod of three years nor sub­ject to any govern­ment ap­proval as was pre­vi­ously re­quired

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