Real Estate In India | Raheja Developers

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2, Foreign direct investments in Real Estate Development The sector was allowed under the Automated Route. Put simply Persons Resident Outside India were allowed to invest to an extent of 100% in an Indian entity involved with real estate development in the nation without seeking the authorization of the Government of India or the Reserve Bank of India or the Foreign Investment Promotion Board or the Ministry of Finance, as can be required, subject to the conditions prescribed. This Press Note laid down the policy as regards investments by foreign investors into the Real Estate Development Sector. Raheja Developers

Nevertheless, it's relevant to note that the conditions and requirements detailed in this Press Note aren't suitable to Non Resident Indians investing in real estate or Real Estate Development Sector. NRIs might invest in housing and real estate development projects throughout the country, without any conditions, for up to an extent of 100%. Nevertheless, inward remittance of foreign investment in agriculture is prohibited not only for foreign investors but additionally for NRIs. Now, the position with respect to the FDI in Real Estate Business has been turned around with the new circular issued by the RBI in Apr 2010. The new Consolidated FDI Policy Apr 2010 expressly stated that FDI isn't allowed in the Real Estate Business. Raheja Developers Ltd

The Government of India released the new document on Foreign Direct Investment policy on March 31, 2010, whereby this document now consolidates all existing regulations relating to FDI contained in the Foreign Exchange Management Act, RBI Circulars and various press notes issued at various points in time. The comprehensive policy document came into effect from Apr 1, 2010, and will be replaced every six months after incorporating the changes that have been affected throughout the said period. All earlier Press Notes/Press Releases/Clarifications on FDI issued by DIPP in force and effective as on March 31, 2010, stand rescinded as on March 31, 2010, and are accordingly consolidated and included in the present Circular.

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NEW DELHI: Raheja Developers is planning to build an integrated township at Sohna near Gurgaon that could entail an investment of about Rs 1,000 crore over the next three years. The project, which is yet to get the final regulatory approval, is planned over an area of 108 acres that will be expandable up to 250 acres. "We have submitted the LoI (Letter of Intent) to develop the township in 108 acres. We are hopeful of getting the final approval very shortly and will launch the project within next 15 days," Raheja Developers Chairman and MD Navin M Raheja told PTI. At present, the company is finalising the design plan of the project, Raheja said. "We are working on the design. We are planning to offer around 800 housing units in the township that will comprise independent flats, group housing, villas and plots. It is likely to be completed in the next three years," he said. Last week, Raheja Developers had said it will invest about Rs 300 crore in a group ...
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