Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) (Third Amendment) Regulations, 2005

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..... /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 3rd May 2000, the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Transfer or issue of Security by a .....

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..... 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 shall be as under : i. In case of development of serviced housing plots - 10 hectares. ii. In ca .....

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..... ances. 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. The investor shall be responsible for obtaining all necessary approvals, including those of the building / .....

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..... re 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 Gazette vide G.S.R. No.406 (E) dated May 8, 2000 in Part II, Section 3, Sub-section (i) and subsequently amended as under:: G.S. .....

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