New Delhi: The weakening realty sector is likely to get a therapeutic touch as the Government of India is planning to loosen up the FDI norms. Expectations are high enough to re-energize an almost immobile real estate industry undergoing through rough patch (and lacking funds). The Urban Development Ministry has made a proposal for the realty firms with less than 50 percent foreign ownership would be exempted from all prevailing restrictions, including the minimum area standards for development. Another proposal includes foreign investment up to 49 percent from investors who do not have long term vision in construction assets. If granted, realty players in India will be able to raise foreign capital eventually reducing the dependency on domestic market.Few of the major proposals are:Foreign Capital ProvidersExisting rule: All foreign investments should go with terms and conditions of Indian Government.Proposed rule: If FDI < 50 percent, companies should be exempted from FDI norms.Minimum Area Requirements (in development of service housing plots)Existing rule: Minimum land area of 10 hectare.Proposed rule: Minimum land area of 2 hectare (5 acres).Construction Development ProjectsExisting rule: Minimum built-up area of 50,000 sq mts.Proposed rule: Minimum built-up area of 25,000 sq mts.Purchase of Land for DevelopmentExisting rule: Ambiguity on purchase of agriculture land.Proposed rule: Company with FDI can buy immovable property/agriculture land for development projects.Non-ResidentExisting rule: Ambiguity in transfer of foreign investment from one non-resident to another.Proposed rule: Permission to transfer from one non-resident to another. займ на карту без отказов круглосуточновзять кредит онлайн