Country Garden, China's largest realty firm puts India plans on hold

In August last year, China laid down rules restricting overseas investments, stepping up its campaign against what it described as 'irrational' acquisitions of assets outside country

Country Garden, China’s largest property developer by sales has put on hold all its Indian real estate investments on hold due to pending approvals from the Chinese government, according to sources in the know.

The Hong Kong Stock Exchange listed company, has signed over a dozen term sheets with multiple real estate developers in different cities in the country, but is yet to go ahead with its plans, said the sources.

A term sheet is the document that outlines the terms by which an investor will make an investment in a company.

Country Garden has put together a team of over 100 people