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- Originally Posted by EhsaanIndia attracted $3 billion worth of real estate and construction investments over 12 months to March 2007, a government official has revealed.
The booming property sector is expected to contribute further over the coming year as the government looks to achieve foreign direct investment totalling $30 billion, according to industrial policy and promotion department secretary Ajay Dua.
Prices in the country for real estate have doubled in the last two years alone, according to the Reuters news agency. Mr Dua also revealed that the government hoped to release its review of FDI policy by the end of the month.
"We are hopeful we should be able to do it by end June, early July, to facilitate more foreign investment and make it easier for people to bring in money and that investments go into the infrastructure sector.
It is true that real estate sector is growing day by day, however, the prices of land are also doubled during lat two years.This will affect on more investment in Inida by FDIs, when lots of options are available in Asia.There is alway a uncertainity in FDI policy and this threat is alway in the minds of FDI/NRIs. Moreover, the laws in India for byuing a agricultural property is also very complicated for FDI to understand.No serious thought is given on this issue,there by chances of loosing good business proposals/investment.Same thing is happening about SEZ policy. Politians should now be serious on these issues to see India as third superpower.
J.K.Patil and associates,PuneCommentQuote0Flag