FOREIGN INVESTORS IN REAL ESTATE LOCKED FOR 3 YEARS

The Foreign Investment Promotion Board (FIPB) has said that Foreign Investors in Indian real estate cannot sell their stakes to another foreign investor before three years. With this, FIPB has overruled a provision in FDI policy that exempts foreign players from the rule in cases where fund transfer is from one non-resident to another. Till now, this three year lock-in was applicable only on foreign investment in real estate and not on investors.