new delhi real estate companies who are bound by strict conditions for bringing in foreign direct investment fdi can now look forward to a breather companies developing several projects simultaneously are likely to get a waiver on meeting fdi conditions on some if majority of the projects are fdicompliant realty companies are subjected to conditions such as threeyear lockin period and a minimum development of 10 hectares for bringing in fdithe move will particularly benefit real estate companies that take up expansion plans from time to time under the proposed waiver such expansion schemesprojects would be eligible to get foreign funds even if they do not comply with the required conditionalities separately on their ownmany a time the developer faces difficulty to hive off projects that are not fdicompliant the industrys main grouse is that if some of the projects are taken in isolation it negates the purpose of the whole project a senior government official saidofficials in the department of industrial policy and promotion dipp said some developers have sought permission to retain projects that do not comply with fdi guidelines laid down under press note 2 even after infusing foreign investment the department is in discussion with the foreign investment promotion board fipb to firm up new guidelines for easing investments in such projects a meeting on the issue is expected next monthexperts are of the view that the governments move would help real estate developers mobilise fdi many of these firms are otherwise left in lurch due to nonfdi compliance in one or two projects there have been many instances in the past where real estate companies have faced rejection from the government for bringing in fdi owing to noncompliance in one or two projects out of 1820 projects the law should allow fdi to a project as a whole at the entity level even if some of the projects do not measure up to the fdi guidelines real estate consultant jones lang lasalle meghraj md anuj puri saidthe real estate industry has also urged the government to waive the condition of threeyear lockin period for preipo investment by overseas entities and treat them as portfolio investment rather than fdi the matter is also under active consideration of the dipp