The government formed by Narendra Modi has brought out excellent and predefined hopes in the real estate sector in India. He has relaxed the FDI norms for the construction sectors. This rule has reduced the minimum capital requirement to $5 million from $10 and the built-up area lowered to 20,000 square meters from 50,000. With this relaxed norms, the investors would be permitted to exit the venture completion or 3 years after the final investment date. These attractive features would certainly be helpful for Modi to attracting investment for building the smart cities as declared.
a) With this declaration, the real estate sectors have shown their interest in building up new structural ventures in the prominent cities that are selected as a smart city.
b) With the upcoming housing projects in Gurgaon, the developers aim to fulfill the need for residential complexes.
c) The residential projects in Gurgaon are highly defined with all the modernized facilities to convey all the requirements that make easy and convenient to lead life.
d) The residential flats in Gurgaon would accomplish all the needs in a much secured way following the government rules for construction.
e) The flats would be in affordable range for the investors.
As per the government declaration with the reduced capital requirements the developers, as well as the purchasers, would be profited. And as per the smart city declaration, Gurgaon is keenly focused on to develop in all varied sectors like technical, industrial and financial and with this, the requirement of residential structures are executed by the developers.