Implementation of real estate MoUs begins in MP

Bhopal, Mar 30: Madhya Pradesh Industries Minister Jayant Malaiya has said implementation of Memoranda of Understanding (MoUs) inked for various projects in the field of real estate has already begun, involving a capital investment of Rs 10,500 crore.

Mr Malaiya gave the information at a meeting held here yesterday to review progress of the implementation of the MoUs executed in different fields.

A total of 102 MoUs for investing of Rs 1.20 lakh crore were inked during the Global Investors Summit held at Indore recently. Of these, MoUs worth Rs 10,500 crore pertained to real estate sector, an official release here said.

Foreign investment is likely in almost all real estate projects. These include multiplexes, malls, commercial complexes, residential colonies, golf courses, entertainment centres, IT and BPO service centres.

Addressing the review meeting, Mr Malaiya directed the officers to ensure the release of sanctions and NOCs to the investors as per rules without delay for the real estate projects. He said all the processes should be hassle-free.

Representatives of 14 companies, who had signed the MoUs for real estate were invited to the meeting. Representatives of 12 companies apprised the minister of the status of implementation of their projects. They also discussed the difficulties being faced in implementation of the projects, the release added.

UNI