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TMI BlogForeign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Sixteenth Amendment) Regulations, 2014.X X X X Extracts X X X X X X X X Extracts X X X X ..... fication No. FEMA. 20/2000-RB, dated 3rd May 2000), namely:-- 1. Short title and Commencement (i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Sixteenth Amendment) Regulations, 2014. (ii) They shall be deemed to have come into force from December 3, 2014. 2. Amendment of Schedule 1 In the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 (Notification No. FEMA 20/2000-RB, dated 3rd May 2000), in the existing Annex B, for the existing entry 11, 11.1 and 11.2, the following shall be substituted, namely:-- Sl. No. Sector/Activity % of Equity/ FDI Cap Entry Route 11 Construction De ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . These proposals will be considered by FIPB on case to case basis inter alia with specific reference to Note (i). (D) The project shall conform to the norms and standards, including land use requirements and provision of community amenities and common facilities, 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 Indian investee company will be permitted to sell only developed plots. For the purposes of this policy "developed plots" will mean plots where trunk infrastructure i.e. roads, water supply, street lighting, drainage and sewerage, have been made available. (F) The Indian investee company shall be responsibl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y to investee/joint venture companies which commit at least 30 per cent of the total project cost for low cost affordable housing. (iv) An Indian company, which is the recipient of FDI, shall procure a certificate from an architect empanelled by any Authority, authorized to sanction/building plan to the effect that the minimum floor area requirement has been fulfilled. (v) 'Floor area' will be defined as per the local laws/regulations of the respective State governments/Union territories. (vi) Completion of the project will be determined as per the local bye-laws/rules and other regulations of State Governments. (vii) Project using at least 40% of the FAR/FSI for dwelling unit of floor area of not more than 140 square meter will ..... X X X X Extracts X X X X X X X X Extracts X X X X
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