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Modi's measures help debt-laden property firms

He scrapped approvals needed for overseas ownership of some projects, barriers to foreign direct investment

Leverage among India's builders has more than tripled since 2008, according to Mumbai-based brokerage IIFL Ltd.


INDIA'S biggest overhaul of rules for foreign investment in real estate since the industry began opening up a decade ago has come just in time for cash-strapped builders facing borrowing costs exceeding 20 per cent.

Prime Minister Narendra Modi scrapped approvals needed