Review of the policy on foreign Direct Investment (FDI) in Construction Development Sector - Clarification on Press Note 10 of 2014 dated 03/12/2014

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..... No. Issue Clarification/ Comment 1. Whether FDI can be brought if the minimum capitalization was not completed within the period of six months of the commencement of the project? No new FDI can be brought in the project if the minimum capitalization of US $ 5 million has not been achieved within six months of commencement of the project. If such minimum capitalization was achieved....

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.... in residential/commercial projects only after completion of project? The exit is allowed automatically after the completion of project. However, in case of any project if trunk infrastructure, which is clearly defined as development of roads, water supply, street lighting, drainage and sewerage, is developed first, the investor is automatically permitted to exit thereafter. 5. Whether th....

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..... Whether NR to NR transfer is under automatic route? Transfer of stake from one non-resident to another non-resident before completion of the project or before completion of trunk infrastructure is through the FIPB route. 9. Definition of Business Centre Business centre includes where multiplicity of businesses of same or different nature are being carried out from a particular bui....