Minimum built-up area requirement and capital infusion for FDI-compliant projects are being reduced from 50,000 square metres to 20,000 sq. metres for projects and from $10 million to $5 million, respectively with a three-year post-completion lock in, the finance minister said. Projects which commit at least 30% of the total project cost for low-cost housing will be exempted from minimum built-up area and capitalization requirements, with the condition of three year lock-in.
Posted on: Thu, 10 Jul 2014 12:41:02 +0000
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