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Our Bureau

New Delhi , Jan. 18

THE Government has clarified that foreign direct investment (FDI) in townships, housing, built-up infrastructure and construction-development projects would continue to be guided as per the specifications mentioned in Press Note 2 issued in March 2005.

This press note specifies certain terms of investment with regard to size of plots to be developed, total land area and minimum investment amount.

The Department of Industrial Policy and Promotion (DIPP) also clarified that these specifications would not be applicable for the hotel, tourism and hospitality sectors as 100 per cent FDI under the automatic route is already permitted in these sectors.

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