Moneycontrol
Last Updated : Jan 11, 2018 02:46 PM IST | Source: CNBC-TV18

Positive step to allow 100% FDI under automatic route: Hardeep Puri

In a big boost for realty, the cabinet gave a go-ahead for 100 percent foreign direct investment (FDI) in real estate broking services under the automatic route. In an interview with CNBC-TV18’s Ronojoy Banerjee, the Minister for Housing and Urban Affairs, Hardeep Puri discussed a more detailed understanding of the impact of the move on the sector.

CNBC TV18 @moneycontrolcom

In a big boost for realty, the cabinet gave a go-ahead for 100 percent foreign direct investment (FDI) in real estate broking services under the automatic route. In an interview with CNBC-TV18’s Ronojoy Banerjee, the Minister for Housing and Urban Affairs, Hardeep Puri discussed a more detailed understanding of the impact of the move on the sector.

Looking at a revival of the real estate sector. It has suffered on account of a lot of factors, he said.

Positive steps have been taken over the last few years such as Real Estate Regulatory Authority (RERA), goods and services tax (GST), fiscal incentives provided, giving affordable housing infrastructure status -- we are looking at a number of steps and 100 percent FDI is one of them – to be able to revive this sector, he added.

For more, watch accompanying video...
First Published on Jan 11, 2018 02:46 pm

tags #Economy

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