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Gurgaon: Retail reforms pave way for India’s largest mall by DLF

In the light of retail reforms which allow open both single and multi-brand retail for foreign investors, DLF is set to develop India ‘s largest mall in Gurgaon which is expected to open in 2016. The developer is anticipating that by that time, a significant number of foreign brands will enter the country.

On 14 September, the Cabinet ministers decided to operationalize 51% FDI (Foreign Direct Investment) in multi-brand retail and left it to the discretion of the States Government to oversee setting up of such stores.

This has brought good news in the realty sector in India. Lalit Jain, President of the Confederation of Real Estate Developers’ Association of India (CREDAI) regarded this to start a new chapter in the Indian Economy. The commercial vertical of real estate development is bound to witness a boost due to this reform.

About Sanjit Sharma

Sr. Online Marketing Executive with Favista Real Estate Pvt. Ltd.
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