The government recently removed all restrictions on foreign direct investments into the real estate and construction sector except for a three-year lock-in period for select projects, in a major boost to the cash-starved sector at this stage. This will have a huge positive impact on the housing sector as a whole, but much more so on the affordable housing segment, which was so far not a beneficiary of FDI in any significant manner. That is because the government has done away with restrictions on size and minimum capitalisation, meaning that FDI can now be brought into the construction sector in any amount and for any size of project. Also, there will now be no lock-in period for FDI investments into hotels and resorts, hospitals, SEZs, educational institutions, old age homes and NRI investments. The restriction that funds had to be brought into the country within six months of commencement of business has also been removed.
Bengaluru is top destination for real estate investments:
Nearly 13 per cent Rs 44,450 crore that PEs have invested in property market from 2013 have come to the city.
Airport line tech to speed up work on Noida Metro:
The Delhi Metro Rail Corporation (DMRC) has tested and lifted the first 'U-girder', or U-shaped support beam, for the Noida-Greater Noida Metro alignment, and will install the first viaduct on the 29.9km corridor by the end of the year.
Girders directly bear the load of Metro tracks and the use of U-shaped ones have helped speed up construction work. The U-girders measure 27 metres in length which allows DMRC to use only two spans to install one segment of viaduct, whereas several spans of normal girders would have been required for installing the same viaduct. This technology was used by DMRC for the Airport line and the Badarpur-Faridabad corridor.