OREANDA-NEWS.The Government has eased norms for Foreign Direct Investment (FDI) by changing the requirements of minimum area, minimum capitalization, repatriation of investment, definition of affordable housing project etc. to increase the foreign investment in housing sector which creates forward and backward linkage with other sectors and spurs the growth through multiplier effects.

Ministry of Housing and Urban Poverty Alleviation has requested the Ministry of Finance to grant the ‘infrastructure’ status to ‘affordable housing project’ to ensure enhanced credit flow to housing sector through benefits like various tax incentives, longer repayment tenure loans, higher debt-to-equity ratio, eligibility for low-cost external commercial borrowings etc.

This information was given by the Minister of State in the Ministry of Housing and Urban Poverty Alleviation Shri Babul Supriyo in a written reply to Shri Bheemrao B Patil, Shri Anurag Singh Thakur and Adv. M. Udhayakumar in the Lok Sabha today.