Foreign currency borrowings for affordable housing allowed for developers, HFCs and NHB subject to FEMA compliance and RBI conditions. The amendment permits developers/builders, Housing Finance Companies and the National Housing Bank to avail foreign currency loans for financing developers or prospective owners of low cost affordable housing projects or units, in accordance with the Foreign Exchange Management Act and related rules and subject to terms and conditions specified by the Reserve Bank of India.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Foreign currency borrowings for affordable housing allowed for developers, HFCs and NHB subject to FEMA compliance and RBI conditions.
The amendment permits developers/builders, Housing Finance Companies and the National Housing Bank to avail foreign currency loans for financing developers or prospective owners of low cost affordable housing projects or units, in accordance with the Foreign Exchange Management Act and related rules and subject to terms and conditions specified by the Reserve Bank of India.
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