36b8ad9b__Audit_Firm_in_India____Page_2__Issue
[Sl. No.] 12. [Clarification/ Comment] FDI is permitted in completed projects for operation and management of townships, malls/ shopping complexes and business centres as long as they do not get into the realm of real estate business. Definition of “Real Estate Business” for the purposes of FDI policy is as provided in FEMA Notification No. 1/2000-RB dated May 03, 2000 read with RBI Master Circular i.e. dealing in land and immovable property with a view to earning profit or earning income therefrom and does not include development of townships, construction of residential/ commercial premises, roads or bridges, educational institutions, recreational facilities, city and regional level infrastructure, townships. [Issue] 
Whether foreign investor can acquire possession of the completed projects in townships, malls, shopping complexes and business centres?
Posts by Rehana | Service Tax & Income Tax Consultants Bangalore, Accounting Services, Audit Firm in India. - Page 2
Issue