New Delhi: The Government, currently deferred on the suggestion of relaxing the Foreign Direct Investment (FDI) norms for the residential segment. According to the sources, the Minister of Urban Development has asked to put off the proposal as of now. The plan to relax the norms was listed in the cabinet meeting’s agenda.A cabinet note suggested relaxing the conditions for exit of the foreign investors before the 3 year lock-in period. The note also proposed a modification in the construction development projects of FDI which included condition of having minimum 50,000 sq mts built-up area to 20,000 sq mts of carpet area.Note recommended a uniform minimum capitalization of $ 5 million for the Wholly Owned Subsidiaries (WOS) as well as for the joint ventures with Indian divisions. Currently $ 10 million capitalization is required for WOS. The note also suggested more relaxations on the exit of the FDI before the lock-in period of three years.According to a source, the proposed norm for FDI suggested that they can exit on the receipt of possession, project completion certificate presented by local authority or by selling to any other foreign investor to a lock-in period of 3 years from the purchase date by the other non-resident investor. The transfer from one non-resident to another, however will be allowed only once with no chances of waiver of the new lock-in period.According to the Press Note 2 (2005) of DIPP, it permits foreign direct investments up to 100% in townships with conditions. Even though 100% FDI is permitted in townships, housing projects, built-up infrastructure and other construction developments, the government has imposed clauses.займ на карту без отказов круглосуточновзять кредит онлайн