New Delhi, Oct 12: In a bid to give big boost to the construction activity and fulfill the election promise of providing `shelter for all', the new government will have to put in place an enabling environment for luring foreign direct investment in the housing sector.Although attempts have been made by the previous government to permit FDI in the housing, the issue bogged down in the debate over the quantum of FDI, which could be permitted. Industry sources said that 100 per cent FDI should be allowed in the housing sector. However, some riders like lock-in period could be in place to avert any repeat of the South-East Asian type crisis.
The new incumbent at urban development ministry should be able to sort out the issue as the sector needs sizeable funds estimated at Rs 1,50,000 crore.
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