FICCI to review fiscal & monetary policy to look at gaps

08 Dec '08

6 min read

2.Reinstate the definition of Real Estate business as contained in FEMA. It will be clear from this that Real Estate “does not include development of townships, construction of residential / commercial premises, roads or bridges”. Development and construction should therefore be taken as an integral part of urban infrastructure. This change would encourage banks and financial institutions to resume lending to the industry.
3.Announcement of large scale integrated infrastructure and real estate projects to boost investor sentiments.
4.Announcement of housing schemes by development authorities such as the latest housing scheme announced by DDA that offered houses at less than market value
5.Encourage corporate lending at discounted rates for affordable housing projects
6.Relax foreign direct investment regulations in Real Estate in terms of the project criteria and allow smaller projects to access capital as well, which means that smaller investments could also start coming into the country
7.Allow access to ECBs for construction funds with some restrictions in terms of average maturity

FICCI

More Federation of Indian Chambers of Commerce and Industry News... More Textiles News - India...