New Delhi: Anand Sharma, Commerce and industry Minister said that the ministry is planning to float a revised cabinet note on relaxation of Foreign Direct Investment (FDI) norms for the construction sector in India. Earlier the decision on relaxation of FDI norms in construction sector was taken to attract more foreign investment in the real estate sector of India. The increasing demand of the real estate sector has proved that FDI norms are needed to be relaxed on a little higher scale.Looking at the necessity of the real estate sector in India, the ministry has decided to propose a revised note which will enable further relaxation of FDI norms for the investments in the real estate sector. The announcement of the decision was made in New Delhi in the presence of Urban Development minister Kamal Nath and Finance minister P Chidambaram.Earlier proposal for the relaxation of FDI norms was issued in November by the Department of Industrial Policy and Promotion (DIPP) which helped the sector gain some momentum regarding the foreign direct investment. The earlier relaxation has made it easy for developers as well as investors on various terms by relaxing few of the important norms stated by the law.National Real estate Development Council (NAREDCO) insisted that government should ease the minimum requirement for developers’ ability to acquire FDI for the real estate sector. It also insisted on relaxation of more FDI norms to create more jobs in the real estate sector in India. According to the NAREDCO suggestion minimum eligibility for developer should be brought down to 20,000 square meters for built up area while minimum allowed capitalization should be set for $ 5 million.займ на карту без отказов круглосуточновзять кредит онлайн