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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
Add BT as a preferred sourcePublished Mon, Nov 16, 2015 · 09:50 PM
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Singapore
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 for overseas ownership of some projects and removed barriers to foreign direct investment (FDI) in construction among a slew of measures unveiled on Nov 10 to boost confidence in Asia's third-largest economy.
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