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Center Brings More Clarity in FDI Policy for Real Estate Sector

    15 March , 2022         Fdiindia

Center Brings More Clarity in FDI Policy for Real Estate Sector

The Union government amended and aligned what comes under the current definition of real estate business to make the foreign direct investment (FDI) policy for the realty sector more transparent.

As per the Press Note released by the Department for Promotion of Industry and Internal Trade (DPIIT) this week, FDI is not permitted in an entity that is engaged or seeks to engage in the real estate business, construction of farmhouses, and trading in transferable development rights.

It also added that the rent earned/income on lease of a property, not amounting to transfer, will not come under real estate business.

“Real estate business means dealing in land and immovable property with a view to earning profit there from and does not include development of townships, construction of residential /commercial premises, roads or bridges, educational institutions, recreational facilities, city and regional level infrastructure, townships,” the Note mentioned.

The DPIIT made further changes in the norms pertaining to the acquisition of shares under the scheme of merger/demerger/amalgamation.

The Press Note said that the merged or new entity “may issue capital instruments to the existing shareholders of the transferor company resident outside India.”

“Where a scheme of compromise or arrangement or merger or amalgamation of two or more Indian companies, or a reconstruction by way of demerger or otherwise of an Indian company ...the transferee company or the new company, as the case may be, may issue capital instruments to the existing shareholders of the transferor company resident outside India,” the Note further added.


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