Cabinet approves 100% FDI in real estate broking services under automatic route

The cabinet today approved 100 percent Foreign Direct Investment FDI in real estate broking services under automatic route. The Union Cabinet reviewed the foreign direct investment (FDI) policy in certain sectors today. The sectors which were mainly considered for further relaxation of FDI, include construction and single brand retail. The Union Cabinet meeting was headed by Prime Minister Narendra Modi. Regarding the liberalisation in the construction development segment, the government has decided to "clarify that real-estate broking service does not amount to real estate business" and is therefore, eligible for 100 per cent FDI under automatic route.