Realty Sector & Affordable Housing

2508-cities-selected-in-affordable-housing

By Accommodation Times News Service

By Avikshit Moral, Partner, Juris Corp (Advocates and Solicitors)
By Neha Thakkar, Associate, Juris Corp (Advocates and Solicitors)

The construction development sector of India has imperceptibly striving to convert itself into an organised sector. Recently, the Indian real estate sector has benefitted from the strong economic growth, one of the driving factors of which is Foreign Direct Investment (FDI). The government has time and again taken steps to encourage foreign funds keeps flowing into this sector by creating a favourable policy regime and a strong business environment. Currently, the real estate sector contributes to 6% of the GDP. In order to fuel the growth of construction sector and quench the need for housing in India, the Indian government has taken many initiatives in recent years such as relaxing FDI norms.

The Indian construction and development sector permitted 100% FDI in the year 2005, which had led to a boom in investment and developmental activities thereafter. According to DIPP, total FDI inflow in construction development sector (including townships, housing, built-up infrastructure) from the period starting April 2000 to September 2015 has been around US$ 24.16 billion which is about 9% of total FDI inflows (in tate sector contributes to 6% of the GDP. In order to fuel the growth of construction sector and quench the need for housing in India, the Indian government has taken many initiatives in recent years such as relaxing FDI norms.terms of UD$) from April 2000 to September 2015.





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