FICCI has been actively pursuing the cause of the Indian real estate sector through its strong Real Estate Committee. FICCI has made several recommendations to the concerned ministries and other policy making authorities for healthy growth of real estate sector in India. Recently, FICCI proposed the following suggestions to the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, Government of India to improve the flow of foreign capital into the real estate sector:
- Rationalization of the minimum area development and minimum capitalization norms for FDI in real estate.
- Relook at the 3-year lock in period for FDI.
- Allow FDI in greenfield and brown field projects.
- An exit clause for investors in exceptional cases.
- FDI should also be allowed to come in for affordable housing projects which will require a tweak in the existing FDI policy.
FICCI established an annual platform in 2004 called the "International Real Estate Summit" to take up policy issues, debate challenges and opportunities for the sector, bring in international experiences and case studies for the Indian industry. At this summit held annually, FICCI jointly with its Knowledge Partner releases an annual report. This report brings out the trends in the real estate business, emerging business models and asset classes in real estate, and presents the perception of global investors towards investing in Indian real estate. The last few theme based annual reports released at this forum are given below:
- Indian Real Estate Report 2006: "Opportunities and Returns"
- Indian Real Estate Report 2007: "Growth & New Destinations"
- Indian Real Estate Report 2008: "Indian Real Estate - Shifting Gears"
- Indian Real Estate Report 2009: "Staying Real In India"
- Indian Real Estate Report 2010: "Realty decoded- Investing across borders"
- Indian Real Estate Report 2011: "A New Realty - Dissolving borders through cross border integration"