Maha govt mulls allowing FDI into housing sector: Awhad

The Maharashtra government is considering allowing foreign direct investment (FDI) into the housing sector, state minister Jitendra Awhad said here on Thursday.

The Housing Minister exuded confidence that the government will sign at least one such agreement in the next three months.

Awhad also said that the Prince of Dubai will visit Mumbai next week or within a fortnight and the government will try to bring investment from there to the Maharashtra capital.

"We are thinking about allowing FDI (in the housing sector)," Awhad told reporters here.

The minister said the government is considering to seek 15 per cent to 20 per cent equity in case any foreign firm approaches the government willing to invest 100 per cent in any project.

Seeking equity will assure the investing firm the government's support to such projects through clearances, he added.

"I am sure we will sign at least one such agreement in the next three months," Awhad said.