PES may pump in more money in real estate

Real estate companies are expected to raise more money from private equity funds in 2016,after the government simplified fore -ign direct investment norms for the sector last year.Experts say PE investments in real estate could even surpass the $4.8-billion fund infusion seen in 2015,With the way PE investments are str -uctured, the money is set to be invested in selected cities and projects. Simple green norms for real estate India's sluggish real estate market may finally get a much needed boost builders may have to comply with only 12 to 24 environmental norms,depending on project size,instead of the 100 green rules that were originally proposed. Senior officials familiar with the matter said, the environment ministry is seriously considering a radical trimming of the green code in building bylaws and the National Building Code. Projects with built-up size area of 5,000-20,000 sq m will face around 12 conditions, 20,000-50,000 sq m projects will have to reckon with around 18 conditions, and projects over 50,000 sq m will have to comply with 20 to 24 ecological compliance conditions.