Indian government, on December 3rd, 2014 revised norms for Foreign investment in Construction sector which could include foreign fund investment in Townships, Hospitals & Hotels, Industrial projects etc.
Brief changes are:
Earlier :
1] Exit:- Lock-in period of 3 years for repatriation of Investment
2] Minimum Floor Area:- 50,000 sq.m.
3] Min. Capital Requirement:- $10 million
4] Development of Serviced plots:- Min. land of 10 Hectares
Revised:
1] Exit:- No lock-in period. Investors will be permitted to exit on completion of the project or after development of trunk infrastructure that is, roads, power supply, street lighting, drainage & sewage etc.
2] Minimum Floor Area:- 20,000 sq.m.
3] Min. Capital Requirement:- $5 million
4] Development of Serviced plots:- No minimum criteria
*As notified by Department of Industrial Policy and Promotion (DIPP)
Brief changes are:
Earlier :
1] Exit:- Lock-in period of 3 years for repatriation of Investment
2] Minimum Floor Area:- 50,000 sq.m.
3] Min. Capital Requirement:- $10 million
4] Development of Serviced plots:- Min. land of 10 Hectares
Revised:
1] Exit:- No lock-in period. Investors will be permitted to exit on completion of the project or after development of trunk infrastructure that is, roads, power supply, street lighting, drainage & sewage etc.
2] Minimum Floor Area:- 20,000 sq.m.
3] Min. Capital Requirement:- $5 million
4] Development of Serviced plots:- No minimum criteria
*As notified by Department of Industrial Policy and Promotion (DIPP)