The government is now planning to allow foreign direct investment in housing sector and construction business relaxing the existing norms of making available 100 acres of land in cities to 25 acres. Sources said, the proposal likely to be put before the Cabinet on Thursday by the Commerce Ministry is being backed by the Urban Development Ministry. At present, FDI is allowed only in development of integrated townships of minimum 100 acres which would not only be reduced to 25 acres, but also expanded to development and infrastructure-related project. Meanwhile, in Bangalore, Urban Development Minister Ghulam Nabi Azad said, ‘‘The Centre was considering relaxing existing norms of making available 100 acres of land in cities to 25 acres. In the present situation, no city can provide 100 acres of land for this project in the heart of the city.’’
