NEW DELHI, MARCH 4: The NRIs and foreign companies wanting to sell their housing projects to the Indian government may well be in for a disappointment, as the finance ministry has maintained a stony silence on foreign direct investment (FDI) in this sector.The investors in this sector are concerned over the silence and have started wondering whether their projects in India will ever see the light of the day. Tired of govt's indecisiveness some are even thinking of abandoning their investment plans.
One such example is that of Pacific Land Development, a wholly-owned subsidiary of Indo Rama group. The company wanted to develop a housing project on 100-acre plot in Delhi, but could not get the clearance due to ministerial wrangles during all these years.
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