FDI in construction sector: revised policy permits full foreign investment under automatic route with updated area, capitalization, and exit rules. The revision permits full foreign equity under the automatic route for construction development projects while recalibrating minimum area and capitalization requirements, specifying that minimum FDI must be brought within a defined period from statutory approval of building/layout plans, allowing subsequent tranches up to ten years or until project completion, tying exit or repatriation to project completion or development of trunk infrastructure, and imposing duties on investee companies and local approving authorities to obtain approvals, develop infrastructure, and monitor compliance; certain project types and affordable housing commitments are carved out.
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FDI in construction sector: revised policy permits full foreign investment under automatic route with updated area, capitalization, and exit rules.
The revision permits full foreign equity under the automatic route for construction development projects while recalibrating minimum area and capitalization requirements, specifying that minimum FDI must be brought within a defined period from statutory approval of building/layout plans, allowing subsequent tranches up to ten years or until project completion, tying exit or repatriation to project completion or development of trunk infrastructure, and imposing duties on investee companies and local approving authorities to obtain approvals, develop infrastructure, and monitor compliance; certain project types and affordable housing commitments are carved out.
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