Budget 2015-16 Wish list: Real estate

Key developments

• Smart cities: Proposal to develop 100 of those, to offer sustainable development and employment to a wider section, regardless of skill, education or income level
   
• Reits: The Sebi (Real Estate Investment Trusts) Regulations, 2014, notified. Reits will facilitate tapping of cash flow in the Indian economy, and help smaller investors access income-generating real estate assets
   
• FDI: Relaxation in rules for foreign direct investment in the construction sector. Some of these relaxed rules include reducing minimum built-up area and capital requirement for the projects receiving FDI
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• The Real Estate (Regulation and Development) Bill, 2011: Yet to receive clearance from the Cabinet, it proposes to promote transparency and accountability. The Cabinet is deliberating on revising the Bill and having a regulator for the real estate sector..

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