The government eased foreign direct investment (FDI) norms for the construction development sector, which is expected to provide a substantial boost to the sector in terms of greater foreign capital inflows. Notifying the decision taken by the Cabinet in November, the Department of Industrial Policy and Promotion (DIPP), the nodal agency for all FDI policy, said foreign developers would now be allowed to exit a project only after completion or after completing the basic trunk infrastructure such as roads, water supply, street lighting, drainage and sewage. Earlier foreign developers were not allowed to take out the invested amount before three years from completion of minimum capitalization. However, now the foreign firm can take its money out or transfer its stake to another non-resident company before completing the project on approval from the government. #fdi #fdi_in _real_estate_sector #foreign_direct_investment #NRI #investment Courtesy: Different Sources T...
The beautiful journey of SKB Group started in 2005. One of the best real estate developers in Delhi and NCR; it is the brainchild of two brothers Mr. Vikas Pundir and Mr. Siddharth Pundir. Both well-renowned personalities in the real estate industry; their vast experience and knowledge of the industry caused the inception of SKB group. Their dedication and hard work have made this company what it is today.