International realtors pitch for 74% FDI

 They have called for allowing up to 74 per cent foreign direct investment (FDI) in all real estate activities, beginning with software technology parks and reducing the minimum capitalisation requirement to $1 million.

 At present, 100 per cent FDI is allowed in integrated township development with the condition that the minimum capitalisation in case of a wholly owned subsidiary will be $10 million and that for a joint venture will be $5 million. The minimum project size requirement is 100 acres.

 Experts, who were deliberating at the third international real estate conference -