Busy work on the foundations of a mighty edifice
The general route:
• 100% foreign direct investment is allowed in real estate developments of more than 50,000 square metres
• Capital must be brought into India within six months of incorporation of a joint venture or subsidiary
• Repatriation of original investment allowed after three years
• At least 50% of the project has to be completed within five years
• Sale of undeveloped land is not permitted
• Minimum capitalization of $5 million for joint ventures and $10 million for wholly owned subsidiaries
Specific routes:
• 100% foreign direct investment allowed in IT parks and special economic zones
• 100% foreign direct investment allowed in hotels and service apartments