TMI BlogForeign Exchange Management (Transfer or issue of Security by a Person Resident outside India) (Third Amendment) Regulations, 2005X X X X Extracts X X X X X X X X Extracts X X X X ..... ication No.FEMA. 136 /2005-RB dated July 19, 2005 In exercise of the powers conferred by clause (b) of sub-section(3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in partial modification of its Notification No.FEMA.20/2000-RB dated 3 rd May 2000, the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Transfer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lt-up infrastructure and construction - development projects. The sector would include, but not be restricted to, housing, commercial premises, hotels, resorts, hospitals, educational institutions, recreational facilities, city and regional level infrastructure. 100% The investment shall be subject to the following guidelines : (a) Minimum area to be developed under each project s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he project must be developed within a period of five years from the date of obtaining all statutory clearances. The investor shall not be permitted to sell undeveloped plots. d. The project shall conform to the norms and standards, as laid down in the applicable building control regulations, bye-laws, rules, and other regulations of the State Government / Municipal / Local Body concerned. e. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed regulations, have not been made available. It will be necessary that the investor provides this infrastructure and obtains the completion certificate from the concerned local body / service agency before he would be allowed to dispose of serviced housing plots. -sd/- ( Vinay Baijal ) Chief General Manager Footnote : The Principal Regulations were published in the Official Gazett ..... X X X X Extracts X X X X X X X X Extracts X X X X
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