The Government is likely to take a decision on Monday on relaxing FDI norms for the housing sector, including easing conditions for exit before the three- year lock-in period.
“The proposal was deferred in November 13 meeting of the Cabinet. It will again be taken up by the Cabinet on Monday,” a source said. The Cabinet note has proposed easing conditions for exit of foreign players before the three-year lock-in period.
It has also proposed a change in the current requirement of having a minimum built-up area of 50,000 sq mts to 20,000 sq mts of carpet area for FDI in construction development projects.