FDI in Real Estate How Indian customers are benefitted?

While FDI in any sector is perceived as a boon to the industry. But does it hold
any promise for buyers in India, who are already suffering from problems like
delayed deliveries and gaps in technical and financial planning of the project in
which they are investing their hard earned money?

Well, FDI in real estate sector thankfully addresses these concerns to a lot of
extent. Read on
FDI in real estate is given to a company who fulfills all norms of being eligible to
get the money from FDI. Requirements such as
-

the complete possession of land and necessary NOCs (No objection

certificates) from regulatory bodies
to engage an internationally known consultant for technical design,
seismic (earth quake proof) designs of the projects.
Strict following of technical norms of building code.
No violation of approved maps/plans.
Strict adherence of timelines of the project.
Better surveys of location and areas and better designs in terms of open
and covered area.

With government having eased out some norms for FDI puts more responsibility
on the developer to stick to these norms in order to keep the FDI flowing for one
and all of the projects.
The term builder is rapidly being replaced by developer. For customer this means
a host of facilitiies to their disposal within the society premises.
Transparency in business dealings with customers come when the organisations
have international intervention. The status of project is now not just the concern
of the developer and the customer but the FDI godfather watches project
progress very closely. This is infact bringing about changes like having
internationally k own material suppliers, close project management, and also
puts more accountability on the developer.
To keep the write-up short, it must be emphasized that with easing norms on FDI
in real estate sector, organisations such as KPMG, Financial express have written
various articles about the future of Real estate in India, which finally touch the
base where they talk about FDI being a breather for the sector which is known to
be slowing down in past few years.
Keeping in view the hierarchy of FDI funded projects, developers are now, not
just forced to, but also keen to exercise a better and more professional project
management.
Customer will get direct benefit for all above listed concerns by FDI in real estate.
Undersigned can be contacted on comments or private messages for unique
suggestions/special offers on the best FDI funded projects in Delhi/NCR.