Thursday, July 16, 2015

Insurance and Defense Sector

Insurance and Defense Sector cap of foreign investment is being raised to 49 per cent from current 26 per cent with full Indian management and control through the FIPB (Foreign Investment Promotion Board) route.

Real Estate: Requirement of the built up area and capital conditions for FDI is being reduced from 50,000 square meters to 20,000 square meters and minimum investment from USD 10 million to USD 5 million respectively with a three year post completion lock in.Projects which commit at least 30 per cent of the total project cost for low cost affordable housing will be exempted from minimum built up area and capitalization requirements, with the condition of three year lock-in.

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