Saturday, July 14, 2012
Sunday, June 24, 2012
Sunday, June 18, 2012
Sunday, June 10, 2012
Monday, June 04, 2012
Wednesday, Nov 23, 2011
Thursday, Oct 13, 2011
Tuesday, Oct 04, 2011
Monday, Sep 26, 2011
Tuesday, Sep 20, 2011
Friday, Sep 16, 2011
Thursday, Sep 01, 2011
Tuesday, August 30, 2011
Friday, August 26, 2011
Monday, August 22, 2011
Thursday, August 18, 2011
Wednesday, August 17, 2011
Tuesday, August 09, 2011
Tuesday, August 02, 2011
Thursday, July 28, 2011
Saturday, July 23, 2011
Saturday, July 16, 2011
Monday, July 11, 2011
Wednesday, July 06, 2011
Tuesday, July 05, 2011
Monday, June 27, 2011
Wednesday, June 22, 2011
Tuesday, June 21, 2011
Wednesday, June 15, 2011
Wednesday, June 01, 2011
Thursday, May 26, 2011
Monday, May 23, 2011
Thursday, May 19, 2011
Tuesday, May 17: If you're fretting over the increasing property rates in your city, how about buying a house in a place where the average prices are 60% cheaper than those in Mumbai? And no, we're not talking about a tin shack in the boondocks
Friday, May 13: Foreign direct investments (FDI) last fiscal fell 28% to a four-year low, data showed on Thursday, raising concerns over stability of capital flows. This is also the first time in five years that FDI is lower than portfolio flows
Thursday, May 05: Real estate developers and home buyers will feel the pinch of higher interest rates, which could slow down home sales. Higher interest will push up monthly installments for home loans for existing as well as new home buyers
Monday, May 02: Industry Ministry's proposal to open multi-brand retail for foreign investment is likely to go to the Cabinet soon after assembly election results of four states and a Union Territory, taking on board job-related concerns of the Labour Ministry
Friday, April 29: The recent decline in the flow of foreign direct investment to India is temporary and it would pick up in the coming months given the strong macro economic outlook, Commerce and Industry Minister Anand Sharma said Tuesday.
Monday, April 25: Indian, South Korean, Japanese and Chinese companies were among the fastest growing investors overseas in 2010, according to the fDi Intelligence report. The overall ranking of the world’s leading locations for FDI remained unchanged in 2010 in terms of number of greenfield FDI projects attracted
Monday, April 18: India is eager to absorb foreign direct investment, Prime Minister Manmohan Singh said on Thursday in a statement at the BRICS summit. Singh also said the Indian economy is well positioned to achieve annual long-term growth of 9%
Friday, April 15: Currently, India allows a 51 per cent FDI in single-brand retail and 100 per cent in cash-and-carry stores such as Metro, which can only sell to other retailers and dealers. Interestingly, India doesn’t yet allow FDI in multi-brand retailing. Industry associations such as FICCI have been requesting the government to raise the FDI limit to 100 per cent
Thursday, March 31: The government will release the revised consolidated FDI policy paper, a ready reckoner on foreign investment related regulations, in New Delhi on Thursday. The third edition of the Consolidated FDI Policy
Friday, March 25: The finance ministry has opposed the Reserve Bank of India’s suggestion to restrict foreign direct investment in new banks to 49%, saying the change in norms will hurt investor sentiment
Wednesday, March 23: With slowdown in FDI by 25 per cent, India’s dependence on FII inflows, considered as hot money for maintaining its current account, has increased this fiscal. Moreover, the gap between the foreign direct investment (FDI)....
Saturday, March 19: It makes sense for non-resident Indians (NRIs) and persons of Indian origin (PIOs) to invest in property in India. A NRI is a person who is not resident in India. According to the Foreign Exchange Management Act (FEMA)
Wednesday, March 16: In order to liberalise the FDI regime, the government is likely to dispense with a norm that requires foreign investors to seek local partner approval for setting up units in the same business
Tuesday, March 01: The budget speech of the finance minister intends to lay the foundation for policy changes that are to follow over the next 12-18 months. However, the speech was lacking in big-ticket reforms that the finance ministry has been promising for a while
Tuesday, February 22: The real estate sector is expecting a liberalised foreign direct investment (FDI) norm and easing of rules for external commercial borrowings, in the present tight project finance situation and rising cost of loans, from the Union Budget 2011-12. On the other hand, another round of interest
Monday, February 20: The country's largest realty firm, DLF, plans to launch one of the costliest residential projects here this week offering 38 luxury housing units at a price range of Rs 15-25 crore. The company will launch on Tuesday a super luxury residential project 'King's Court', which is spread over 2.3 acres of land at Greater Kailash-II in South Delhi
Thursday, February 10: Abu Dhabi is set to host a new India property show that will bring over 100 projects from across India for the Capital-based Non-Resident Indians (NRIs), according to its organiser
Wednesday, February 09: Housing loans of up to Rs 10 lakh, extended to non-resident Indians, for construction of farm houses, and to staff members of banks are not eligible for the one per cent subsidy, the Reserve Bank of India said in a notification issued on Tuesday.
Monday, February 07: India's foreign direct investment is headed for the first drop since the year ending March 2003, hindering a bid to match China’s surging economy, even as overseas money poured into Indian stock and bonds at a record pace
Wednesday, February 02: Realty firm Alpha G:Corp today said it would develop a group housing project in Gurgaon at an investment of Rs 400 crore. The company would build 670 housing units on a 12.5 acre land, which is owned by Magnum International
Monday, January 31: One of the fastest growing professional real estate companies of India, Alpha G: Corp is coming up with new Residential Project in Sector 84 Gurgaon at an unbelievable price. After Gurgaon One, Sector 22, Alpha G:Corp now takes the second step. For those who missed out on sector 22, this is another chance.
Thursday, January 27: Non-resident Indians (NRIs) and people of Indian origin (PIO) investing in premium real estate projects have become cautious and are doing a thorough check before investing, say senior executives in real estate firms. ‘‘The mood is to verify and ensure it is a good property, land and approvals are in place, the location is good, and the project conforms to the master plan,’’...
Monday, January 24: The housing and real estate sector in India witnessed foreign direct investment (FDI) of $2.8 billion in the fiscal year (April-March) 2009-10, according to indian Department of Industrial Policy and Promotion. According to stats reavealed at IndiaHome property exhibition
Wednesday, January 19:Punjab needs to follow Gujarat's lead and improve its "poor" policies if it wants to attract more investment from overseas Indians, NRIs at an investment meet here today said. "I do not see any major schemes or major development from Punjab.
Saturday, January 15: After Gurgaon One, western part of the city might see rise of another multi-storey building in the same vicinity. Jawala Mills, decades-old defunct textile mill on Old Delhi Road is slated to be sold by mid-February. The 17 acres of land was first purchased by IT major Aricent Technologies in early 2000s
Monday, January 10: Worried over rising food inflation, Assocham today suggested that the government should consider early opening of retail sector for foreign investors to bridge demand-supply gap.
Tuesday, january 04: A fast-growing economy fired up the real estate market after almost a year-and-a-half of property gloom, with prices touching the pre-crisis peak and companies announcing structures that will pierce the sky.
Monday, December 27: The debate over whether to relax FDI norms in the Indian retail sector gained momentum in 2010, a year which also saw many retailers resume their expansion activities after the global downturn of 2008-09. The key question in front of India’s $435 billion retail sector
Monday, December 20: The foreign direct investment flows (FDI) into developing countries including India, is expected to recover over the next couple of years and is projected to increase by 17 per cent in 2010
Monday, December 13: The Maharashtra Chamber of Housing Industry’s (MCHI) 14th India Realty Expo 2010 saw non-resident Indians (NRIs) making a beeline for residential properties from 25 exhibitors yesterday. Friday, despite being a holiday, had the show see a large number of walk-ins, with NRI couples eagerly looking up and evaluating options.
Wednesday, December 08: Further to its series of events aimed at professionalizing the real estate brokerage landscape – RE/MAX Realty Rendezvous, RE/MAX India has launched another first in the India Real Estate Brokerage history
Wednesday, December 01: Over the years, Non Resident Indians (NRIs) have considered Indian real estate market a thriving investment destination with good returns on investment. Considering this scenario, Maharashtra Chamber of Housing Industry (MCHI)
Tuesday, November 30: The Competition Commission of India (CCI) on Monday disclosed that it was examining 11 complaints of anti-competitive practices received against real estate companies, some of which were being probed by the CBI in connection with the housing finance scam
Wednesday, November 24: For a non-resident Indian (NRI) who has been away from home, there are many investment options across various categories. However, while other investment options can be timed, investments in real estate have to be planned
Wednesday, November 17: The MSME ministry has proposed allowing only up to 18 per cent FDI in multi-brand retail, while cautioning that entry of global retailers could harm interests of kirana stores, small farmers and consumers.
Friday, November 12: Mumbai, India's business capital, has been ranked as the fourth most expensive market in terms of office space rentals in the world by global real estate consultant CB Richard Ellis. New Delhi is placed at the 11th spot in the list, which is topped by London
Tuesday, November 09: President Barak Obama has asked India to lift its restrictions on the FDI on multi-brand retail. He explained that old concerns that small shopkeepers would be impacted ignore today’s reality.
Monday, October 25: India's largest international hotel company Carlson plans to add 20 new hotel properties by 2011, according to a top company official.
"We are opening five hotels in 2010 and plan to add at least 15 hotels in 2011 in India," said Hubert Joly, president.
Tuesday, October 19: As negative factors impacting the commercial realty segment fade away, it could well be an indication that the sector is set for renewed growth. If we consider that fewer negative factors implies a positive scenario.
Wednesday, October 13: The Government today indicated that a new policy on foreign direct investment in the politically sensitive multi-brand retail sector will come soon. At present, India does not allow FDI in the lucrative retail sector
Thursday, October 07: Foreign direct investment flows into the country in the ongoing financial year could be better than last year, commerce minister Anand Sharma said on Monday. Due to the ongoing economic meltdown in Europe and the US
Monday, October 04: Allowing foreign direct investment (FDI) in multi-brand retail is seen as one of the key reform measures that India has to offer. Though the government started the discussion process to allow foreign stake in the sector in mid 2010
Thursday, September 30: Diversified Israeli conglomerate Elbit Imaging Group could be making a fresh investment of $300 million to acquire raw land assets and invest in new projects in India in the next two to three years.
Monday, September 27: Khan Market — the country’s most-expensive retail destination — has moved up three notches to 21 in the list of the world’s most expensive shopping streets in an annual global survey by real estate consultants Cushman & Wakefield
Monday, September 20: Indian retail juggernaut, which began rolling towards smaller cities and towns a few years ago, has gathered momentum as retailers are now going whole hog to make a killing. Changing demographics, higher disposable income and improved agri-produce realisation have made smaller cities and rural areas the future hotbeds of growth.
Friday, September 17: The government today said foreign investors in the country’s real estate sector will have to remain invested for a minimum of three years and rejected industry claims about the policy restricting FDI inflows. “I do not see the three-year lock-in period as too restrictive. Investors must come with confidence that they are here to stay.
Thursday, September 16: Real estate investment has always been a favorite asset class for Indians, and that love does not wane even when he becomes a non-resident Indian (NRI). The reasons are not too far to seek
Monday, September 13: India has replaced the US as the second most important foreign directive investment (FDI) destination for transnational corporations during 2010-2012, according to a survey conducted UNCTAD. In its latest 'World Investment Prospects Survey 2010-2012', the United Nations Conference on Trade and Development said transnational corporations remain buoyant about investment prospects in China, India and Brazil.
Friday, September 03: The uncertainty in the global economy seems to have impacted the flow of foreign funds into India. Coming close on the heels of the decline in exports is the news that foreign direct investment (FDI) declined by 18.3 per cent to $10.77 billion in the first half of 2010.
Monday, August 30: The Consumer Affairs Ministry has given the green signal to allow 49 per cent FDI in multi-brand retail. It has written a letter to this effect to the Commerce Ministry. India currently allows 100 per cent FDI in cash-and-carry operation
Friday, August 27: Reflecting improved investor confidence, investment in commercial real estate globally is expected to witness a “healthy” growth of 40-50 per cent to $300 billion in the current year, says a report
Wednesday, August 25: The government may soon allow foreigners to set up limited liability partnerships in sectors where 100% foreign investment is allowed, taking a decisive step after much flip-flop over funding guidelines for this form of business
Monday, August 23: Foreign direct investment (FDI) in India’s booming real estate and housing market jumped 80 times between 2005 and 2010. Figures obtained by TOI show that in 2005, FDI in real estate was a mere Rs 171 crore
Tuesday, August 10: India’s biggest real estate deal took place on Friday evening, with the National Textile Corporation (NTC) limited selling eight acres of Bharat Mills at Worli, for a whopping ` 1505 crore, meaning a single acre went for 188 crore.
Monday, August 02: The European Union July 23 asked India to further open its economy for foreign investments even as the country has taken tentative steps towards liberalizing FDI in sensitive defense and multi-brand retail sectors.
Thursday, July 29: Take the example of Kerala. Real estate development, the most visible sign of recent prosperity that provided jobs to 25 lakh people in the state is also roaring in Kochi after being hit by the Gulf crisis earlier this year. Hoardings at city junctions announce the arrival of new luxury apartments, the kinds which are usually found in posh localities of metro cities. Big builders already have more plans.
Monday, July 19: British MP David Amess said that the Indian Government to tread" very carefully" if it opened up the multi-brand retail sector to FDI because the entry of companies like UK-based retailer Tesco would" literally change the fabric of life in India" by endangering small shops
Tuesday, July 14: M3M India Ltd. won an award at the prestigious NRI summit 2010 held in Dubai. The company’s upcoming project Golf Estate has been selected as the most promising project across the real estate sector in India.
Saturday, July 10: Shares of multi-retail firms soared on Wednesday after the Government’s plans to consider FDI investments in the organised retail space. Some multi-retail stocks even touched their highs on a day when the benchmark indices fell.
Monday, July 05: The ‘Non-Resident Hyderabadi’ junta is giving city realtors a hard time. With most of these globe-trotters deciding against investing in real estate this year, city builders are already bracing themselves up for a 40-50 per cent drop in their 2010 earnings
Wednesday, June 23: Indian expatriates have started investing in their home country in a big way. Increasing job security in Gulf countries, coupled with fears of recession in Europe and North America, are prompting NRIs
Wednesday, June 09: The US has urged India to open up the economy and ease caps on foreign direct investment. Secretary of state Hillary Clinton put forward the request in her opening statement at the India-US strategic dialogue.
Monday, May 31: It’s called the biggest land deal in Mumbai. A plot of 25,000 sq metres, with a built-up area of 4,95,000 sq metres was bagged by Lodha Crown for a whopping Rs 4,053 crore, coming to Rs 81,818 per sq m.
Tuesday, May 25: India has moved five places up on the list of most preferred markets for retailers due to heightened interest from international companies in emerging markets, according to a study which tracks the presence of top retailers worldwide. India moved to the 39th position in 2009
Saturday, May 15: The Indian economy has emerged as one of the most robust economies of the world, as was evident during the recent global meltdown. Despite the difficult times, investments in our home land continue to be lucrative to Non Residents Indians (NRI). Funds invested in India not only yield higher returns...
Wednesday, May 12: Carrefour, the world’s second-largest retailer, will open its first cash & carry wholesale outlet in India in Seelampur, New Delhi, over the next 2-3 months. The French retailer has been trying to find its feet in the country for many years
Friday, May 07: The Times of India is organizing the first ever realty expo in USA titled 'Your Gateway to India 2010' to enable NRI Indians to invest in India's booming $1.2 trillion economy.
The Realty Expo will be held in Santa Clara on May 1-2, 2010 and on May 8-9 in Edison.
Friday, April 30: Home buyers could pay less for property following a partial rollback of a budget levy on realtors by finance minister Pranab Mukherjee today. Mukherjee said realtors would pay a 10 per cent service tax on 25 per cent of the value of the built property, including the cost of land, against the budget announcement of the 10 per cent tax on 33 per cent
Wednesday, April 28: The Indian government is consulting various stake-holders on allowing foreign direct investment (FDI) in multi-brand retail and the scope of such investments in other sectors, Commerce and Industry Minister Anand Sharma said Tuesday.
Monday, April 19: The government plans to tighten investment norms for non-resident Indians (NRI) in companies to ensure that they do not violate foreign direct investment (FDI) sectoral caps or enter areas where such investment is banned.
Tuesday, April 13: The government of India is planning to allow multi-brand retail to the foreign direct investment (FDI) showing its resolve to open up the sector to international chains. The department of industrial policy
Saturday, April 10: Foreign venture capital funds will find it more difficult to invest in venture funds here with the government changing the foreign direct investment (FDI) rules. Experts fear this could dampen foreign investments into India.
Wednesday, April 07: Union Commerce and Industry Minister Anand Sharma on Monday ruled out making any changes in the foreign direct investment (FDI) norms for private banks, asserting that the present rules were doing well. Talking to media persons on the sidelines of a conference organised by the Associated Chambers of Commerce and Industry of India
Thursday, April 01: Overseas Indians are setting great store by the safety and returns offered by Indian banks on NRI deposits. Proof: In the first nine months of FY2010, they parked $1.34 billion more in these deposits over the corresponding period last year. In the first nine months of FY2010, inflows into non-resident Indian (NRI) deposits
Wednesday, March 24: India's budget yet again demonstrates to NRIs that investing in their homeland is probably the best option right now. The West is still struggling to climb out of one of its deepest recessions and provides low returns
Friday, March 19: Mumbai developers seem to have given up on housing for the middle-class. If you thought the realty revival in the city would come through middle-level affordable housing, you cannot be more off the mark. Most new launches are looking at the Rs1-crore residential houses project.
Friday, February 26: For non-resident Indians, in particular, the online facility to trade in the Indian markets is a boon. With the markets currently on the lower side and more volatile than a few weeks back, there is the opportunity for the discreet NRI investor to pick on choice stocks to add to his portfolio.
Thursday, February 25: Foreign investors have remained bullish on India’s housing, real estate and construction sectors in the last two years, undaunted by scarce global financial resources. Foreign Direct Investment (FDI).
Monday, February 15: A month and a half before the unveiling of India’s consolidated foreign investment policy, the government on Thursday doubled the ceiling on automatic foreign investment from Rs 600 crore to Rs 1,200 crore. Union commerce minister Anand Sharma, who announced the decision, said the move is expected to make India a more attractive destination for long-term investment.
Tuesday, February 09: He stressed that NRIs should focus
more on improving the infrastructure of the villages and bring about other
changes to modernize the villages while assuring that the state will put
in its share in such projects. He added, "NRIs should also focus
on opening skilled centres in various parts of the state to address the
problem of unemployment.
Thursday, February 04: The news that in 2009 India produced more Dubai real estate buyers than any other country may not be a big surprise – but it does trigger the question: when will India reciprocate, and allow the rest of the world
Thursday, January 28: Most Non-Resident Indians think a lot before investing in property in India and most of the time put off the plan due to the effort, the research and the planning involved. In some instances, it is put off as they do not have enough funds. For such individuals there is always the NRI home loan.
Saturday, January 23: Apart from biting cold weather of the capital, lack of enthusiasm among overseas Indians to buy properties in India has further dampened spirits of some of the realty firms, as well as around half a dozen banks.
Monday, January 18: The non-resident Indian (NRI) hoteliers from the US are eyeing a share of Indian hospitality industry. An 18-member delegation of Asian American Hotel Owners Association (AAHOA) visited Gujarat
Saturday, January 16: Apart from biting cold weather of the capital, lack of enthusiasm among overseas Indians to buy properties in India has further dampened spirits of some of the realty firms, as well as around half a dozen banks
Thursday, January 14: The Prime Minister, Dr Manmohan Singh, on Friday urged overseas Indians to take a careful look at the long-term investment opportunities now on the horizon pointing out that the Government
Monday, January 11: Overseas Indians who have now become an important segment of investors in Indian real estate, putting in over a million dollars every year, often find themselves being duped by promoters or even getting into acrimonious legal battles with their relatives they once trusted.
Thursday, January 07: The largest conference of overseas Indians will begin in New Delhi today. The eighth Pravasi Bharatiya Divas (PBD), which connects 25 million Indian diaspora in 110 countries, will specifically discuss issues relating to Indian expatriates in the Gulf. The annual meeting will also come up with a concrete proposal to end the harassment of NRIs (non-resident Indians) in property-related issues in India.
Monday, January 04: Once again the annual jamboree of diaspora, the Pravasi Bharatiya Divas, is here and once again overseas Indians would expect to be heard by the powers that be. In its eight year now, the PBD has seen its attendance fall to around a fifth of what earlier editions saw.
Wednesday, December 30: Complaints of real estate deals going sour, illegal encroachment and unauthorised occupation of properties have flooded the ministry of overseas Indian affairs (MOIA).
Monday, December 28: At the beginning of the year 2010, the Indian government has planed to woo its diaspora spread across to globe into the mainstream of its emerging economy. A three-day redesigned gala event – 8th Pravasi Bharatiya Divas....
Thursday, December 24: The global financial crisis that spilled over into its second year choked flow of foreign direct investments into India in 2009, forcing the government to loosen rules for investments but it kept multi—brand retail off—limits to foreigners
Monday, December 21: The $60 billion-odd Dubai debt crisis could spark an increase in remittances from Dubai, in the short term, as uncertainty and nervousness spook the NRIs confidence in local banks in Dubai.
Tuesday, December 15: Credai has stuck to its original plan to hold its national convention during January 23-25 in Dubai. Around 850 delegates comprising India’s who’s who in the realty and retail sector would deliberate on the main theme.
Friday, December 11: An estimated 25 million NRIs living in 130 countries have remitted US$52 billion so far this year. In fact India topped the list of countries in remittance flow followed by China and Mexico, according to World Bank report on Migration and Development Brief.
Tuesday, December 08: The ministry of overseas Indian affairs is bringing together real estate developers, government officials, both from the Centre and the states, and Indians living abroad in a first-of-its-kind seminar aimed at resolving property disputes in Delhi on Monday.
Friday, December 04: The Enforcement Directorate on Thursday raided at least a dozen-odd premises belonging to the developer of the Commonwealth Games Village to collect evidence in an alleged foreign direct investment (FDI) violation
Thursday, December 03: Foreign investment in the real estate sector may potentially no longer be subject to the statutory three year lock-in period. It is believed that the department of industrial policy & promotion, ministry of commerce & industry
Wednesday, December 02: Canada-based NRI billionaire
Bob Dhillon is all set to make a foray into India. Dhillon's Canadian
real estate company, Mainstreet Equity, which owns more than 6,000 rental
properties across Canada, is likely to set up a billion dollar India-specific
real estate fund..
Tuesday, December 01:The leveraged asset purchases of Dubai-based wealthy non-resident Indians in the past few years may begin to haunt them, as the collapse of real estate prices in the emirate prompts calls for additional funds as margins which may force them to sell some Indian assets, experts say.
Monday, November 09: With real estate prices in the niche segment in India showing signs of robust recovery, high net worth Indians and NRIs are again eyeing foreign shores for real estate investments.
Thursday, November 05: National Association of Realtors (NAR), an apex organisation of real estate brokers in the country, is working towards developing a live property valuation index, which will become the benchmark for real estate deals in the country.
Monday, November 02: An estimated 25 million overseas NRIs living in 130 countries are nowadays remitting billions of dollars back home. Net inflows from NRIs have witnessed over twenty-fold rise to $4 billion in the fiscal 2009.
Friday, October 23: Premier Inn, the UK’s largest hotel chain, is popular among international travellers as a budget hotel. But in India, where it will open its first hotel in Bangalore early next month, Premier Inn
Tuesday, October 20: British mother and baby products retailer Mothercare is accelerating its expansion in India with plans for 200 stores, double its original target. The firm, which currently has 23 franchise stores in India
Tuesday, October 13: The IndiaHome Property Exhibition, presented by Citibank NA and jointly organized by the Dubai-based Media Agency Middle East and Signature Events, has received a positive NRI response as 18 of India's most reputed real estate developers displayed their properties at Raffles Hotel in Dubai.
Thursday, October 08: The IndiaHome Property Exhibition, which helps the Indian diaspora get information on a range of residential real estate opportunities in India, will be held in Dubai from October 9-11.
Saturday, October 03: A draft model law by the Union Ministry
of Housing and Urban Affairs provides for greater transparency in dealing with
housing properties. File photo of housing complexes and IT malls under construction
in Chennai. A draft model law by the Union Ministry of Housing and Urban Affairs
Thursday, October 01: After Jones Lang LaSalle and Cushman & Wakefield, another US based real estate organisation is now making inroads in Gujarat. RE/MAX India, a division of US-based RE/MAX International Property Group
Friday, September 25:Asset management companies have begun selling India to the world yet again. A few domestic fund houses, along with scores of smaller investment companies, are targeting overseas investors through offshore offerings.
Monday, September 21: The tiny coastal state of Goa, known to be the best remedy for one to distress, detox and recoup, has in recent years attracted lot of investment in holiday homes by non-resident Goans (NRGs), non-resident Indians (NRIs)
Friday, September 18: India is unlikely to allow foreign investment in multibrand retail at least in the next couple of years, a top industry ministry official said. “It’s a sensitive sector. I don’t see it happening
Tuesday, September 15: The possibility of an imminent tie-up between Future Group and the world’s No 2 retail Retailer, Carrefour, after a hush-hush visit by the French chain’s global chief executive, Lars Olofsson, to India late last week and his meeting on Saturday with Future CEO Kishore Biyani. Mr Olofsson
Wednesday, September 09:Property prices are unlikely to rise sharply during the festive season as buyers have become very price sensitive and are not ready to pay premium on flats. Talking to Hindustan Times, Anuj Puri, chairman and country head, Jones Lang LaSalle Meghraj (JLLM) said
Wednesday, September 02: In a scenario where real estate is becoming out of reach for small investors, to invest and reap profits, real estate investment trusts (REITs) are a good way for the investor class to invest in the sector. It also benefits developers, as more funds are pumped into real estate. REITs/REMFs
Monday, August 31: There are strong new reports that the global real estate market is hitting the bottom and some impressive positive news is coming from real estate markets around the world. In the U.S., the real estate market has yet to hit the bottom.
Tuesday, August 25: RE/MAX India, the master regional franchisee of RE/MAX International in India, has expanded its areas of operations in 7 more regions. The company has appointed regional owners for seven new regions which include Bangalore
Friday, August 21: A stint or two abroad is a common thing for most professionals these days. No wonder, financial advisors have to deal with many Indians with non-resident tag these days. According to them, most non-residents are keen to keep their Indian ties intact and invest in various avenues like mutual funds (MFs)
Wednesday, August 19:The government is considering a sweeping review of its FDI guidelines following increasing risk of terror funds being parked in the country and other investments fraught with security implications.
Monday, August 17: CREDAI Realty Expo 2009, organised by Confederation of Real Estate and Developers Association of India (CREDAI), Karnataka, the trade body of real estate developers in Karnataka, was inaugurated here on Saturday.
Thursday, August 13: UT administration has launched an NRI cell, which will be dealing with legal disputes regarding people from the city, who are living abroad. This has been done after a case came to light where a real estate dealer, in collusion with some UT officials, allegedly sold the property of an NRI without his knowledge.
Tuesday, August 11:United Kingdom’s hotel chain Premier Inn is planning to open about 80 hotels in the country in the next 10 years. The hotel chain will invest Rs 4,000 crore to build 3-star hotels at various locations in the country with a combined capacity of 9,700 rooms.
Saturday, August 08:The building quality notwithstanding, such modern names are also more likely to fetch a premium for developers." Deepak Shah, chief marketing officer at IREO, a leading global investment fund, which has recently entered into real estate development, believes that the choice of brand names across categories mirrors a society's preferences.
Thursday, August 06:India received $2.2 billion foreign direct investments (FDI) in May this year, department of industrial policy & promotion (DIPP) secretary Ajay Shankar said. There is a 43% drop in the FDI inflow in May 2009 compared to $3.9 billion received.
Saturday, July 25: India has dropped to third place in global foreign direct investments (FDI) this year following the economic meltdown, but will continue to remain among the top five attractive destinations for international investors during the next two years
Thursday, July 23:“NRIs are facing a unique situation," says JS Augustine of Everest Developers. "There is a certain amount of job uncertainty, due to the global economic situation. At the same time, Indian real estate offers lower entry-level prices, with potential for good returns on investment (ROI).
Wednesday, July 15:After long lull, there is flurry of activities in the realty sector. The large NRI community, especially Malyali and Punjabi, are on rampage. If the recent study of Assocham on the real estate scene in India is any indication, the large Malayali and Punjabi NRIs
Wednesday, July 08:The government may allow foreign direct investment (FDI) in multi-brand retail this year to help the struggling domestic retail sector to get much-needed funds. This was hinted by the Economic Survey
Saturday, Jun 27: A man, wanted by city police for allegedly cheating NRIs to the tune of Rs eight core by luring them to invest in a non-existent hotel project in Karnataka two years ago, was arrested in Kolkata on Wednesday.
Thursday, Jun 18:Providing good growth potential for global retailers amid the economic slowdown, India has emerged as the most alluring market for investment in the retail sector, surpassing the likes of China, Russia and the United Arab Emirates.
Friday, Jun 12: With the market sentiment buoyant over the prospects of a stable and investment-friendly government at the Centre and a distinct exchange rate advantage, overseas Indians may once again turn their attention to the rapidly-recovering real estate market in India. More so, as market regulator Sebi (Securities and Exchange Board of India) has begun deliberations with experts to set up a framework for Real Estate Investment Trusts (REITs).
Monday, Jun 08: India’s thumping electoral victory will mark the return of confidence and also funds to the Indian real estate sector, says Sukhraj Nahar, chairman of Nahar Group, “Having a stable government at the centre should provide a bottom to the Indian real estate market and help turn it around.
Wednesday, Jun 03: Maharashtra Chamber of Housing Industry, or MCHI, will be showcasing properties of major builders from India at the 12th India Realty Expo 2009, to be held in Dubai from June 4 to 6 at the Sheraton Dubai Creek Hotel and Towers.
Tuesday, May 26: Retailers, local and global, as well as private equity (PE) investors are closely tracking the new government’s moves on foreign direct investments (FDI) in retail. In a few weeks, plans are expected to get clearer to pave the way for the next round of fresh retail strategies.
Wednesday, May 20: Working out and unveiling a new Foreign Trade Policy, working out reforms to finetune the Foreign Direct Investment Policy (FDI), taking a call on opening up of the retail sector for foreign investment and giving a boost to the sagging exports are likely to be on top of the agenda of the new Commerce and Industry Minister who takes office in the new government.
Monday, May 11: Samir Bhatia, head of Barclays retail
and commercial business in India, and the man who built the bank's retail
business from scratch, put in his papers on Thursday. The move puts
to rest market speculation that Mr Bhatia was on his way out of Barclays.
Tuesday, May 05: Last year, after RBI spelt out clear
norms for NRIs to invest in property, and with NRIs holding Indian passport
no longer requiring prior permission before investing, there was a spurt
in NRI investment in Indian realty. According to Omaxe's Rohtas Goel,
"The policies set out by the government regarding property investment
and repatriation, has made investments in India more favourable......
Saturday, May 02: As property markets fall world-wide, one of the few
consolations for real-estate investors is that some governments have
become more open to nonresident property owners. A growing number of
them are considering loosening or temporarily suspending foreign property-ownership
Tuesday, Apr 28: Non-resident Indians, who keep their surplus cash
in rupee-denominated non-resident external (NRE) and non-resident ordinary
(NRO) savings accounts with Indian banks, will receive higher returns.
This follows a decision by the Reserve Bank of India (RBI) to calculate
the interest on a daily basis from April 2010..
Saturday, Apr 18: Foreign private equity investors are eyeing the Indian
real estate market to buy properties from small and mid size developers
badly hit by the economic downturn. A clutch of big investors from the
EU and Middle East are expected to invest $400-500 million in distressed
land deals. These include Spain’s Nova Capital; Germany’s
Monday, Apr 13: City realtors are set to woo the non-resident Bengali community in recession-hit North America with their first "comprehensive" real estate roadshow in that part of the world. Credai Bengal, the state chapter of the national umbrella body of real estate developers, will hold the realty expo during the North American Bengali Conference (NABC), scheduled for July 2-4 in San Jose.
Thursday, Apr 09: Metros in South India are more attractive for infrastructure projects than their counterparts in the other parts of the country, an industry lobby report said Sunday. According to the report, 'Indian Metros: Pulling Infrastructure Investment', released by the Associated Chambers of Commerce and Industry (Assocham), Hyderabad, Bangalore and Chennai received 70 per cent
Monday, Apr 06: Metros in South India are more attractive for infrastructure projects than their counterparts in the other parts of the country, an industry lobby report said Sunday. According to the report, 'Indian Metros: Pulling Infrastructure Investment', released by the Associated Chambers of Commerce and Industry (Assocham), Hyderabad, Bangalore and Chennai received 70 per cent
Monday, Mar 30: Foreign investors in Indian real estate cannot sell their stakes to another foreign investor before three years, the Foreign Investment Promotion Board (FIPB), the body that clears such proposals, has said.
Monday, Mar 23: The global property meltdown may have cast a shadow
on foreign roadshows by Indian developers over the last few quarters.
But some builders are now going all out to woo Indians living abroad.
Monday, Mar 16: Realtors in Mohali district have seen a ray of hope
among NRIs to keep their business going during the global slowdown.
While the local buyers are hesitating from buying houses coming up in
large number in the district, it is the interest of NRIs from Canada,
US, England and middle-east countries
Friday, Mar 13:Companies in sectors with foreign direct investment
(FDI) limits could soon be exempted from taking prior approvals for
participation by foreign funds in their share issues, as per new rules
being considered by the government to attract more overseas investments.
Monday, Mar 9: The Minister for Overseas Indians Affairs, Vayalar Ravi,
recently informed the Lok Sabha (the lower house of the Indian parliament),
that the global recession had no impact on Foreign Direct Investments
(FDI) from Indians abroad as it has registered a rise in the current
Wednesday, Mar 4: The NRI season is now at its fag end. Despite undertaking
tours to the US, the UK and Middle East and doling out freebies and
discounts, realtors have been unable to catch the attention of this
Monday, Feb 23: Remittances, in fact, have become a major component
of the forex earnings and gross domestic product (GDP) of the country.
However, the banking services in the country are not yet fully geared
up to cater to the NRI segment of the market, specially since the RBI
has reportedly issued strict guidelines to all banks on funds that come
in through transfers from NRI customers into their accounts.
Wednesday, Feb 18: Geojit Financial Services on Wednesday launched
its property services division, which will offer investors and builders
a single transparent platform to buy/sell office and commercial spaces
and residential apartments/flats.
Saturday, Feb 14: With foreign direct investment in the country trickling
to $1.36 billion in December, the government has amended rules for foreign
direct investment, thereby opening up almost all sectors of the Indian
economy, including defence, to foreign investment.
Wednesday, Feb 11: The government has liberalised investment
norms for NRIs to invest in real estate in India. At the same time
there is a need of adhering to ground realities before plunging
into investment. We provide some of the frequently answered questions
answered recently by the Reserve Bank of India .
Thursday, Feb 05: Non-Resident Indians (NRIs) and overseas Indians feel that with the property rates heading southwards, time is ripe to invest in India’s real estate industry. Experts are of the view that the Indian economy .
Monday, Feb 02: Foreign nationals seeking to purchase immovable property in India are set to face increased scrutiny. Taking a serious note of the foreign nationals acquiring immovable properties illegally in India .
Thursday, Jan 29: The Union government plans to change foreign ownership rules in the real estate sector by scaling down the minimum area requirements for residential and commercial projects that have overseas investment .
Friday, Jan 23: Overseas Indian Affairs ministry and Confederation of Indian Industry (CII) have decided to launch an exclusive yellow page, listing prominent NRI entrepreneurs who are on the look out for Indian partners in their bid .
Tuesday, Jan 20: Once the most lucrative of asset classes, real estate is fast losing out to equity as the preferred investment vehicle for affluent non-resident Indians (NRIs), according to officials at retail broking houses. However, the investment cap.
Monday, Jan 19: Is real estate gradually becoming a buyer's market from being a seller's market? More than 50 of the 220 people who booked plush flats at the Seawoods NRI Estate in Nerul have stopped paying their monthly instalments.
Thursday, Jan 15: Kerala is a state that is heavily dependent on NRI remittances for its consumption expenditure, with 1.85 million emigrants sending home nearly Rs 24,525 crore in 2007 alone, according to a recent report by the Centre for Development Studies, Trivandrum.
Wednesday, Jan 14: Non-resident Indians (or NRIs) are treated as a special category of investors, given their Indian antecedents and their growing importance as a significant source of foreign capital in India.
Monday, Jan 12: Centre should come out with an attractive scheme for Non-Resident Indians, to invest their savings in the country, a leading NRI banker has said. R Seetharaman, Chief Executive officer, Doha bank, Group, Qatar .
Sunday, Jan 11: The Shamshadabad project being developed under the aegis of IGS inc, a company registered in Chicago as well as in Andhra Pradesh, will be under two to three phases .
Wednesday, Jan 07: The global economic slowdown has not deterred Indians living abroad from remitting funds back home. In fact, official figures indicate that NRIs .
Wednesday, Jan 07: The seventh edition of Pravasi Bharatiya Divas, which opens here on Wednesday, could see the plight of Indian workers abroad being discussed.
Monday, Jan 05: Many Non-Resident Indians (NRIs) invest in real estate back home. Most see it as a commercial activity while also a way to stay in touch with their national identity.
Saturday, Jan 03: The realty industry is one of the worst-hit sectors globally following the financial meltdown, but for the well-heeled in India, this is excellent tiding. With real estate prices at an all-time low across borders.
Wednesday, Dec 31: As the global financial crisis continues to unravel, the real estate sector around the world continues to take a hit with credit in short supply and consumer demand in housing witnessing record lows.
Monday, Dec 29: Living thousands of miles away from their homeland,
a large number of non-resident Indians (NRIs) have never lost their
fondness for India. They have always wanted to invest in India. According
to a World Bank report.
Tuesday, Dec 23: The booming real estate market in the country has prompted industry players to introduce a slew of innovative products to people willing to pay. From real estate developers to real estate fund managers .
Monday, Dec 22: For the Gulf NRIs weighing his options diligently and with foresight, some attractive opportunities are on offer in the real estate sector. Consider these facts: Lenders are slashing home loan rates .
Saturday, Dec 20: In the wake of the global financial crisis and other uncertainties, banks in developed markets across Europe and the US are making strong and definitive cuts throughout .
Saturday, Dec 20: Kerala Tourism’s investment meet for nonresident Keralites ‘Ente Naadu’ has received tremendous response from the Gulf region, according to the organisers..
Friday, Dec 19: Medical help, security at the push of a button, a spa, a golf course and even spirituality… Such safe and luxurious housing for the elderly is coming up, perhaps for the first time in India.
Friday, Dec 19: Interest rates on existing home loans (floating) have started coming down. HDFC, the leading housing finance company, kicked off a reduction in old home loan rates by cutting its retail prime lending rates.
Wednesday, Dec 17: Reliance Money on Tuesday made its debut in Malaysia,
by joining hands with Infinity Financial Solutions, one of Malaysia's
financial products and services distribution company. The move is a
part of plans to expand company's global footprint. This is the first
initiative by an Indian broking and distribution company to offer a
bouquet of financial products and services to NRIs in Malaysia.
Wednesday, Dec 17: Pravasi Bharatiya Divas, the seventh edition of
the annual convention for NRI's, will be held here between January 7
and 9, 2009. The convention, to held in Chennai for the first time,
will discuss issues facing the Indian diaspora as India emerges as an
economic power. It will also look at concerns relating to the current
Tuesday, Dec 16: It's homecoming season for NRIs. But this time around,
they are not dashing to their neighborhood realtor to book a flashy
second home. 'Caution' has become the catchword. Global real estate
consultants and experts feel that the 'only real catalyst' that could
pep up the NRI spirit during this lean period is a significant price
cut, which is expected to happen in the next 3-4 months.
Saturday, Dec 13: Investing in properties is still the best form of
investment in India, says a leading property developer. Property prices
have dropped in Kerala and other states in recent months, said Hoysala
Projects Private Limited (HPPL) chief operating officer Santhosh T Kuruvilla.
Sunday, Dec 14: Recession in the United States and Europe has forced
many Non-Resident Indians (NRIs) to rethink their property investment
plans inIndia. There has been a drop of 50-60% bookings by the NRIs
over the last three months owing to tight liquidity conditions in the
international markets, top realty players told SundayET .
Thursday, Dec 11: With domestic sales suffering as the rupee loses
value against the dollar, property developers in India are looking outside
the country for an alternative market. They are hoping to tap into a
growing niche within overseas property investment .
Monday, Dec 08: Residing in foreign shores, but not completely severed from their roots in India, they are crippled by a sense of insecurity and restlessness, coupled with lost peace of mind.
Sunday, Dec 07: Here’s an insight into investment avenues for NRIs in the present market situation. For risk-averse investors, traditional fixed income products such as Foreign Currency Non Resident (FCNR) fixed deposits and Non Resident External (NRE) fixed deposits are the safest bet.
Thursday, Dec 04: Some of India's biggest real estate market players are
planning to target non-resident Indians (NRIs) as the value of the rupee
falls against the dollar. Firms like developers Omaxe are turning to NRIs
Wednesday, Dec 03: As the world grapples with one of the most serious
economic crises in recent times, the tiny south Indian state of Kerala
finds itself on very thin ice owing to its near complete dependence on
exports, tourism and remittances - all of which are external strengths.
Monday, Dec 01: With the rupee depreciation with the dollar, Omaxe and
other property developers in India plan to target the NRI buyers. NRIs
can get a good deal now because of the recent depreciation of the rupees
against the dollar.
Thursday, Nov 27: Owing to the global slowdown, high net worth individuals
(HNIs) in India are increasingly seeking wealth managers to manage and
restructure their investment portfolios.
Thursday, Nov 27: Many Indian real estate and construction firms and architects
are feeling the heat of a real estate slowdown-in West Asia. Over the
past three-four years, developers and construction firms such as the Dheeraj
Group, Hiranandani Developers Pvt. Ltd, Ajmera Group and Mayfair Housing
(P) Ltd entered markets in West Asia, attracted by relatively low-cost
land, rising demand and the scope for striking joint ventures (JVs) with
Wednesday, Nov 26: The Associated Chambers of Commerce and Industry of
India (Assocham) has recommended that the Reserve Bank of India (RBI)
should allow non-resident Indians (NRIs) to hedge their currency risk
in Indian currency and provide regulatory approvals, enabling retail investments
in Indian stock markets from NRIs and foreigners.
Wednesday, Nov 26: City's real estate developers are hoping that the falling
rupee would help woo NRI customers and prop up the market here. Stung
especially by dropping of sales by about 80% in Mumbai, real estate developers
are now going to the UAE in a bid to hardsell to Non Resident Indians
Tuesday, Nov 25: Are you residing abroad and thinking of investing
in a residential property in India then NRI home loans are the best
option for you. Usually NRIs are doubtful whether they can invest in
a residential property in India or not.
Tuesday, Nov 25: Real estate developers in the metropolis plan to target NRI buyers, primarily in the UAE, in a bid to push up their sales, affected in recent times by high prices and adverse sentiment, a senior industry official said.
Tuesday, Nov 25: Remittance of funds by expatriates to their home country depends principally on the origin factors and destination factors . Non-resident Indians (NRIs) are, in some cases, big earners and in most cases inclined towards savings.
Tuesday, Nov 25: Mumbai has much to offer its expatriate residents. For the thousands of people who leave the UK each year and head for a new life in India, the world's largest democracy is certainly no third world option.
Monday, Nov 24: Property market in India is poised for a deep correction
and the prices are estimated to fall by up to 30% from current levels,
with significant knock on effects on the economy, says a Goldman Sachs
Thursday, Nov 20: US based INC Developers has entered the heavily slowed
Indian real estate market with a super luxurious apartments scheme worth
Rs 100 crore, which it would jointly develop in Pune with Amar builders
over next 24 months. The super luxurious apartments with 6,500 square
foot size each, would be priced between Rs 5 crore and Rs 6 crore.
Monday, Nov 17: Well, the outcome of the much hyped G-20 summit over the
weekend was a bit of a damp squib. Leaders of the world's leading nations
(advanced and emerging) failed to announce any major breakthrough initiatives,
except for a symbolic appeal for a coordinated global action to tide over
the unprecedented crisis.
Thursday, Nov 13: Both Unitech and HDFC admitted the property was on the
block, but refused to confirm the deal. "I cannot confirm till we sign
a deal," Unitech chairman Ramesh Chandra said.
Tuesday, Nov 11: International hotel chains have tied up with real estate
developers like DLF, Emaar MGF, Unitech and Parsvanath to set up five-star
hotels. However, fund-starved developers, who are trying to raise money
for their core activities like residential and commercial property projects,
are understood to have put the hotel ventures on the back burner.
Monday, Nov 10: NRIs/PIOs can acquire residencial property in India; however
a PIO who is a citizen of Pakistan, China or Bangladesh has restrictions
in acquiring property. Also, NRIs and PIO cannot buy agricultural land,
plantation property and farm house.
Friday, Nov 7: Castlewood Investment Properties, one of the largest real
estate developers in Europe and the US, has joined hands with Home Place
International and their exclusive Indian associate, Company Land Solutions
(India), for their India foray.
Friday, Nov 7: The government has proposed extensive changes in the guidelines
for foreign direct investment (FDI) that could impact a range of industries
such as telecom, infrastructure, real estate and broadcasting.
Wednesday, Nov 5: Foreign direct investment (FDI) in India increased 259
percent in September to $2.56 billion, compared to the same month last
year, wit h Mauritius being the largest investor
Tuesday, Nov 4: Fearing a crash in local real estate prices, many well-heeled
Indians are buying properties in Singapore. While such purchases could
be pure investments, the lure of permanent residentship offered to certain
investors under the Singapore law may have also influenced the decision.
Tuesday, Nov 4: The liquidity crunch has become a prime concern for the
government. The government is conscious that unless this problem is sorted
out, the economic slowdown cannot be controlled. Besides improving the
banks' capacity to lend, the finance ministry has also identified two
areas for improving the availability of funds.
Monday, Nov 3: Fund managers and designers of financial products are getting
increasingly creative when it comes to offering fruitful and safe options
during the present times of economic turmoil.
Sunday, Nov 2: Another blow of the global meltdown has been felt by the
already bleeding realty estate industry. Non-Resident Indians (NRIs) are
avoiding coming home this year and not investing in property, something
that brokers look forward to every year.
Saturday, Nov 1: The Centre should permit Non-Resident Keralites to invest
in the state-owned chit funds as there was no provision for the state
to accept such deposits directly, Kerala Finance Minister Thomas Isaac
said on Saturday.
Thursday, Oct 30: The global financial crisis in Britain is hurting most
NRIs but helping the super rich. The rise in inflation following the oil
price rise of the last few months has increased grocery bills of most
working and middle class Indians, as for everyone else
Monday, Oct 27: The international financial crisis that surfaced about
a month ago has affected even developing countries like India. Initially
it was felt that the direct impact of the global meltdown on the Indian
economy would be minimal.
Saturday, Oct 25: If the situation warranted, RBI would not hesitate to
either infuse or withdraw liquidity from the system, he said, adding that
at the same time the central bank wanted banks to focus on credit quality
and ensure flow to productive and vulnerable sectors.
Thursday, Oct 23: Private sector HDFC Bank, has opened its first overseas
full-fledged branch in Bahrain with a 25-member strong staff. The branch
would offer cash management and trade finance solutions to corporate clients
and wealth management services for NRIs, a release issued here on Wednesday
Wednesday, Oct 22: This upcoming weekend of 17th & 18th October will
have the reputed real estate developers from India coming together under
one roof with Citibank offering attractive options for availing home loans
to purchase properties.
Wednesday, Oct 22: Kerala based Federal Bank, with its Rs 48,000-crore
business, is looking to enter the wealth management space, especially
for catering to its huge NRI clientele.. The bank has a good four lakh
NRI customers. This base, according to bank's chairman and CEO M Venugopalan,
throws up a solid business opportunity for the bank. Mr Venugopalan expects
to firm up this plan in the next three months. The banks overall customer
base is nearly 50 lakh.
Tuesday, Oct 21: The fall and fall of the Indian stock indices must surely
have given the jitters to non-resident Indians who are also looking at
the dismal global scenario that has caused this. Not to worry. Among several
other home truths, Indian planners seemed to have figured out the worth
of domestic savings and NRI remittances when it comes to insulating the
economy from global tremors.
Tuesday, Oct 21: Future economic historians may remember the month that
just ended as Black September. Lehman Brothers collapsed; the Bank of
America acquired Merrill Lynch; AIG was nationalised; banks such as Washington
Mutual and Wachovia were wiped out. As credit and finance markets around
the world tumbled like ninepins, so did stock markets in India, with the
Bombay Stock Exchange Sensitive Index (Sensex) falling 3.35% or 469 points
on September 15.
Monday, Oct 20: The Pune Property Shows in Dubai, organized by magickbricks.com
will serve as a platform for buyers and sellers to come face to face and
make the most of the excellent investment opportunity that Real Estate
in Pune offers. The unique & innovative Pune Property Show is being
held in on 17th and 18th October '08 at Radisson SAS, Dubai.
Monday, Oct 20: It has been a year of steep decline for the real estate
sector in India. It remains one of the worst hit by the domestic credit
squeeze and the global financial meltdown. To an extent, the problem is
reflected on the BSE Realty Index, which is now down 82% from its January
Sunday, Oct 19: The Government seems to be aggressively pushing reforms
that will help India attract foreign capital - be it portfolio flows or
direct investment. Even though only six months remain for the general
elections to kick in, Industry and Commerce Minister Kamal Nath is keen
to allow FDI in the politically sensitive retail sector.
Saturday, Oct 18: Managing Director of the Abu Dhabi-based multinational
retail giant Emke Group Yusuf Ali M.A. has expressed his desire to invest
in the State. Pointing out that Karnataka is one of the fastest developing
States with a steadily ascending growth curve he said that Special Economic
Zones in the State are a lucrative investment option.
Friday, Oct 17: Waking up to the sound of birds chirping, walking on tender
grass wet with the morning's ew, listening to the sweet songs of flowing
water as memories of an earlier time come flooding over you, soaking in
the delights of nature over a cup of coffee. if this is your dream, investing
in a second home is the road to realise it.
Friday, Oct 17: The crisis in the international economic scene is bound
to have its repercussions in the State economy as well. The NRIs, the
export and import-based companies and the real estate sector may suffer
if the global economic meltdown continues. The NRIs will have to share
the burden of measures being implemented by their host countries to ward
off the crisis.
Thursday, Oct 16: Punjab, as many of the Indian states may be negatively
affected by the financial crisis in the US. Many NRIs of Punjabi origin
have set up trusts and charities to enhance the health, education and
social infrastructure in Punjab. Besides, remittances (estimated at US
$ 2 to 3 billion per year) are contributing to an enrichment of the state
(World Bank, 2004)
Thursday, Oct 16: After the Reserve Bank of India reduced the CRR (Cash
Reserve Ratio) was by 150 basis points or 1.5% effective October 11, it
has announced another cut of 1%. Now CRR stays at 6.5 per cent. Besides
this, RBI decided to provide Rs. 25,000 crore to banks as the first instalment
under the Agricultural Debt Waiver and Debt Relief scheme of the Government.
Tuesday, Oct 14: In a new promotion scheme for NRI Remittances, Qatar
National Bank (QNB) customers using the Bank's EAZYinternet e-banking
channel to transfer funds in Indian Rupees to their HDFC Bank accounts
will have the opportunity to win 100,000 Qmiles.
Tuesday, Oct 14: Remit2India, the country's leading financial services
provider has tied up with UAE Exchange to offer an integrated window to
address these needs of the NRI fraternity in the Gulf. The NRIs can now
avail of gifting services under the brand-name 'Window2India'.
Monday, Oct 13: Banks in India have started increasing home loan rates for large borrowers
by 25 to 50 basis points. The increased rates are applicable to NRI
borrowers as well. Earlier, banks had only two slabs for home loans
-- up to Rs 30 lakh and above Rs 30 lakh. Some banks have now introduced
a third slab that covers borrowings over Rs 75 lakh.
Sunday, Oct 12: Indian Banks are not facing any pressure from their foreign operation
or to meet its overseas liability. In the last couple of weeks, growth
in the deposits of non-resident Indians has increased. According to
latest RBI data, the total NRI deposits during the fortnight ending
on July 18, 2008 increased are over Rs 3,000 crore from Rs 59,000 crore
to Rs 63,081 crore.
Saturday, Oct 11: The Federal Bank has stated that it is the perfect time
for non resident Indians to invest in India. "I will ask NRIs (non-resident
Indians) to take advantage of the current situation of high exchange rates
and interest rates," Venugopalan, CEO and managing director of India's
Federal Bank said in Qatar.
Friday, Oct 10: The Pravasi Bhartiya Diwas has attracted NRIs from all
over the world. At the meet, India suggested the need for an "Asian
imprint" for governance and regulation of markets as an alternative
to capitalism and socialism to tackle the crisis arising out of the global
Thursday, Oct 9: People from 20 countries have gathered in Singapore to
explore investment opportunities in the booming Indian economy at a two
day conclave of non-resident Indians. "The Pravasi Bharatiya Diwas
brings together Incredible India on one side and the Indian diaspora on
the other," Minister for Overseas affairs Vyalar Ravi told more than
800 delegates who are here to attend the meet beginning tomorrow.
Wednesday, Oct 8: Real-estate developers and land brokers expect the Nano
project to give a boost to the real estate sector in Gujarat which has
witnessed a slowdown in the past year. Sources in the industry said that
land-sharks have started inquiring about the land prices in nearby areas
where the Nano project plant is proposed to come up in a year's time.
Tuesday, Oct 7: With 260 industrial entrepreneur memoranda (IEMs) in hand,
the Haryana government is trying to attract an investment of over Rs 4,000
crore. Out of this, the government has envisaged NRI investment of Rs
150 crore from 59 non-resident Indians (NRIs). All these NRIs have already
been allotted plots in the state.
Monday, Oct 6: ICICIdirect.com has launched an online Futures and Options
(F&O) trading facility for NRIs. ICICI said this facility offers "safe
and secure transactions through its fully integrated trading site."
Monday, Oct 6: The Reserve Bank of India (RBI) and finance ministry have
approved the participation of foreign institutional investors (FIIs) in
Indian depository receipts (IDRs). IDRs are Indian counterparts of global
depository receipts that enable foreign companies to raise money from
the Indian markets.
Monday, Oct 6: The non-resident Indian (NRI) deposits in Kerala banks
went up 6.6 percent in the April-June quarter this fiscal to touch Rs.318.65
billion ($7 billion), bankers' committee said. "This is up by Rs.1,
976 crore (Rs.19.76 billion) in comparison to the corresponding period
of the previous fiscal," said the latest State Level Bankers Committee
Sunday, Oct 5: Real estate developers and agents in India are now offering
more solutions to market properties to Non-Resident Indian investors.
Their focus is geared to target the burgeoning and lucrative market of
prospective Western buyers.
Sunday, Oct 5: While a considerable number of Kerala residents dwell in
foreign countries, real estate in Kochi has always been the subject of
NRI interest. Of unpunctual, the surge created by influx of IT / ITeS
based companies in the property markets has also resulted in soaring property
prices in Kochi in the last few years.
Saturday, Oct 4: The collapse of American banking has turned out to be
a blessing in disguise for Indian banks, now being seen by NRIs as a safe
place to park their funds. In recent weeks, many US-based NRIs have switched
their funds from US based entities to Indian banks by way of NRI deposits.
Thursday, Oct 2: India's Corporation Bank has set up a representative
office in Dubai. Bank chairman and managing director B. Sambamurthy said
the bank would provide banking consultation and financial services while
promoting the bank's retail products, including insurance and mutual funds.
Wednesday, Oct 1: Punjab National Bank, India's second largest public
sector bank, hiked interest rates by 50 basis points for non-resident
deposits in foreign currencies including US dollar, Euro and British Pound.
The bank also raised interest rates by 50 basis points for rupee deposits
by non-resident Indians. The hikes in deposit rates are effective from
Tuesday, Sep 30: Banks have made a strong representation to Reserve Bank
of India to release more cash into their system. Presently the banks are
facing a liquidity crunch. Bankers have also urged the RBI to allow them
to offer higher interest rate on the NRI deposits.
Monday, Sep 29: The Reserve Bank of India (RBI) will not be changing the
interest rates in its upcoming policy in the light of moderating inflation
and adverse impact of global turmoil on liquidity, a Citigroup report
Monday, Sep 29: Mohali will soon be able to boast of world class infrastructure
since it will soon host the IPL matches. NRIs are therefore eager to buy
property here. The town's proximity to Chandigarh is a booster to its
real estate sector.
Saturday, Sep 27: Since the value of the Rupee fell against the dollar
there has been a surge in remittances from NRIs in the Gulf in the last
couple of weeks, especially as the festival season is on back home. Exchange
houses and banks in the region have reported that the fall in the value
of the rupee, coupled with the ongoing Islamic holy month of Ramadan and
Kerala's harvest festival Onam, have contributed to the increase in remittances
to India by around 25 per cent.
Friday, Sep 26: India's largest private lender, ICICI Bank has announced
an increase in the interest rates for NRE term deposits and FCNR deposits.
This will affect NRI finance inflow. The bank raised the interest rates
by 0.50%, effective from September 17.
Friday, Sep 26: The FIIs (Foreign Institutional Investor) have increased
their shareholding in Indian firms. Public shareholding includes individual
holding, holding of financial institutions, mutual funds, foreign portfolio
investors, non-resident Indians and employees.
Thursday, Sep 25: A Non-Resident Indian of Gujarati origin has extended
an invitation to Donald Junior from Trump Tower Corporation, a leading
real estate developer in USA, to invest in real estate business of Gujarat
Trump Power Corporation has been in the business of construction for the
past 30 years and has constructed many skyscrapers in USA.
Thursday, Sep 25: The Securities and Exchange Board of India's (Sebi)
proposal to allow foreign institutional investors (FIIs) in currency futures
trading may curtail the Reserve Bank of India's (RBI) ability to intervene
in the foreign exchange market. This has created tension in the market.
Wednesday, Sep 24: The Reserve Bank of India (RBI) has allowed Indian
companies raise foreign capital by issuing foreign currency exchangeable
bonds (FCEBs) with immediate effect. The move will attract foreign currency
and strengthen the Rupee.
Wednesday, Sep 24: The global financial crisis will have an indirect effect
on the Indian economy as it will lead to liquidity tightening and will
firm up of the interest rates; affect the inflow of FDI and export of
goods and services to an extent.
Tuesday, Sep 23: Religare Enterprises announced that the company's arm, Religare
Portfolio Management Services, has tied up with Bank of Bahrain and Kuwait
(BKK) to offer its services to Non-Resident Investors (NRI's) in the Middle
Monday, Sep 22: ICICI Bank has increased the interest rates on its NRE and
FCNR deposits of non resident Indians by half a percent. The decision
follows the recent measures announced by the Reserve Bank that allowed
banks to offer higher interest rate on non resident Indian deposits to
attract larger foreign fund flows.
Sunday, Sep 21: NRI billionaire Anil Agarwal-led Vedanta Group is inviting
bids for construction of buildings and other infrastructure facilities
for its Vedanta University project. Orissa government and Anil Agarwal
Foundation had signed a memorandum of understanding in 2006 to set up
a private university with a donation of one billion dollars (Rs 4,500
crore) as endowment amount from Anil Agarwal.
Saturday, Sep 20: After the US financial crisis, non-resident Indians are
looking towards their homeland for career opportunities. K Ramakrishnan,
executive director and head, investment banking, Spark Capital says, "The
top slots in many investment banking companies in India are filled by
Indians who have experience in the US market." By absorbing these
financial professionals, the domestic investment banking is expected to
'leverage' their experience.
Saturday, Sep 20: South Indian Bank has hiked the interest rates on Non-Residential
External (NRE) and Foreign Currency Non-Resident (FCNR) fixed deposits.
As per the revised rates, interest on NRE deposits of one to less than
two years and two years to less than three years will be 3.71 per cent
from 3.21 per cent and 3.81 per cent from 3.31 per cent, an SIB release
Friday, Sep 19: Non Resident Overseas Association of Bengal (NROAB), an organization
of all Non Resident Indians of Bengal origin residing at Middle East,
Asia Pacific, Central Asia & African countries has recently launched
its operation during an inauguration ceremony held at Doha, Qatar. The
formal Inauguration of NROAB was done by H.E Dr George Joseph, Ambassador
of India to Qatar.
Friday, Sep 19: On the occasion of their 74th foundation day, Bank of Maharashtra
(BoM) announced its plans to introduce customer-friendly schemes for NRIs.
Maha-Bharati NRI banking services include all the services that are extended
to its NRI customers. The bank's website also provides a separate column
on services for NRIs. An NRI cell has also been set up at its head office
Thursday, Sep 18: Citi's Global Transaction Services has been appointed by
Andhra Bank in India to provide a range of white-labeled global remittance
services. Under the mandate, Andhra Bank will gain access to QuikRemit,
Citi's white labeled and customized remittance platform for banks, corporations
and money transfer organizations, to enable end-to-end electronic remittance
transfers between India and other global markets.
Wednesday, Sep 17: The global market crisis is affecting the Indian market
too. The Reserve Bank of India (RBI) stepped in with measures to support
the rupee - which has been battered to almost 47 against the dollar -
and supply cash in the money market. The move will increase dollar supply
and lower banks' borrowing cost in the overnight call money market.
Wednesday, Sep 17: Recent trends in Lucknow suggest that Gulf NRIs form the
major chunk of investors for affordable realty deals in the city. NRI
investment is increasing due to the lower realty prices in Lucknow as
compared to exorbitant property prices in metros like New Delhi and Mumbai.
The prime and suburban locations of Lucknow, especially Indira Nagar and
Gomti Nagar are undergoing intense construction activities.
Wednesday, Sep 17: Private sector lender IndusInd Bank plans to raise a $1
billion fund to invest in infrastructure and real estate. The bank announced
this at a meeting of IndusInd International Holdings Ltd, a platform to
mobilise NRI investments, in Dubai. The investors in Dubai are very keen
on infrastructure and real estate in India and bank plans to mobilise
Tuesday, Sep 16: IndusInd International Holdings Limited (IIHL), a holding
company controlled by prominent non-resident Indians (NRIs) and headed
by billionaire businessman Srichand P. Hinduja wants to acquire banking
assets in key foreign markets, including Gulf countries. IIHL subsidiary
IndusInd Bank, which operates 148 branches in India, is also keen to expand
its financial services in markets with significant NRI and Indian-origin
populations, Hinduja said.
Tuesday, Sep 16: The Chandigarh real estate market is booming. One of the
most prominent factors contributing to the real estate growth is the NRI
investments pouring in the city. There are a large number of well-heeled
Punjabi NRIs who are pumping huge funds into Chandigarh property market.
Considering this, all the major real estate builders are largely launching
premium residential projects in the city.
Monday, Sep 15: The rules governing participatory notes may be relaxed with
the Reserve Bank of India initiating a review in consultation with Sebi
and the government. Non-resident Indians could soon have the additional
option of investing in Indian capital markets through this method. PN
is a derivative instrument used by a foreign entity to invest in India
even without registering itself with the Indian regulator.
Friday, Sep 12: The government is planning to allow the PIO (Persons of Indian
Origin) to buy property in India without mandatory RBI approval and without
the hassles of producing a valid visa. The current Foreign Exchange Management
Act (FEMA) guidelines are also being amended to remove a 'gender bias'
where non-residents whose mother or grandmother were citizens of India
will also be allowed to buy real estate in the country.
Friday, Sep 12: The government is planning to allow the PIO (Persons of Indian
Origin) to buy property in India without mandatory RBI approval and without
the hassles of producing a valid visa. The current Foreign Exchange Management
Act (FEMA) guidelines are also being amended to remove a 'gender bias'
where non-residents whose mother or grandmother were citizens of India
will also be allowed to buy real estate in the country.
Friday, Sep 12: The Pravasi Bharatiya Divas (PBD) will be held from Oct 9
to12, a premier international conference organised by the Singapore Indian
Chamber of Commerce & Industry (SICCI), the Ministry of Overseas Indian
Affairs (MOIA) and the Confederation of Indian Industry (CII), with the
support of the governments of Singapore and India.
Thursday, Sep 11: NRI investment in Cochin has propelled the demand for residential
flats in the city. A major percentage of all residential properties in
the city are registered by Keralites living abroad. A range of premium
residential properties in Cochin by different real estate developers are
in various stages of construction to tap the needs and requirements of
the NRIs returning to their land.
Thursday, Sep 11: Indian economy is among the fastest growing economies of
the world. The appreciation of rupee against dollar has been a huge addition
to its economic prosperity and growth story. The rupee appreciated by
9.8% against the US dollar during the previous financial year between
April 3, 2007 to January 16 2008.
Tuesday, Sep 8: THE eighth Indus India Property Exhibition will be hosted
by Doha on the 19th and 20th of September. Some of the leading builders
and housing finance institutions from India would be participating in
the event and several residential and commercial property dealers from
all over India will have their stalls at the venue.
Monday, Sep 8: Nagpur has successfully emerged as the favourite real estate
destination for NRIs (Non Resident Indians). The success can be attributed
to the over all commercial and residential development of the city.
Monday, Sep 8: Private bankers are eyeing the increasing wealth of non-resident
Indians (NRIs) whose businesses are usually closely tied to the booming
Indian economy. Some banks, such as Barclays Wealth, are looking to expand
their team of relationship managers working on this segment as they expect
the NRI slice of their private banking pie to grow quickly.
Thursday, Sep 4: The country's second largest government-owned commercial
bank, Punjab National Bank (PNB) reduced the interest rates on various
non-resident schemes. FCNR (B) Scheme's interest rates for dollar deposits
with maturity tenure between one and two years have been reduced from
2.50 per cent to 2.46 percent.
Wednesday, Sep 3: India has consistently been among the top recipients in terms of remittances
over the last 14 years. Total remittance flows into India increased to US$36 billion in 2007
from US$13 billion in 1997. In 2007, in terms of absolute amount of remittances inflows,
India is ranked number one in the world. As a percentage of GDP, India received 3.3% of
remittances in 2007 compared with an average of 1.8% for developing countries.
Tuesday, Sep 2: The Gujarat Institute of Housing and Estate Developers (GIHED)
recently concluded a 3-day property show at World Gujarati Conference
(WGC) and hoped that it would help keep the market afloat by raking in
NRI investment of around Rs 1,000 crore by March 2009.
Monday, Sep 1: Foreign Institutional Investors today offloaded equities worth
Rs 241.85 crore amid the Sensex closing lower by over 60 points. FIIs
invested in shares worth Rs 1,299.92 crore and offloaded equities valued
Rs 1,541.77 crore, resulting in the net sale of Rs 241.85 crore, as per
provisional data available on the BSE. As per information available on
the Sebi website, FIIs sold shares worth Rs 257 crore on Friday.
Saturday, Aug 30: Union Bank of India has slashed its interest rates on Foreign
Currency Non Resident (B) Account Deposits (FCNR) (B) and Non Resident
External (NRE) term deposits from Monday. FCNR (B) deposits in US dollar
having a maturity of 1-2 years will now attract an interest rate of 2.46
per cent as against 2.5 per cent earlier, a bank release stated.
Saturday, Aug 30: Commissioner for NRI Affairs Eduardo Faleiro has announced
plans to hold a yearly global convention of Goan NRIs that are home to
significant expat Goan populations. This way, he said, it would allow
the participation of those not able to come to Goa for expat meetings
and also provide for greater involvement of expatriates.
Friday, Aug 29: Anil Ambani Group firm Reliance Money announced that it will
be setting up operations in Ireland and the UK. The company is looking
to tap over two million non-resident Indian population in the region.
Announcing the foray, R-Money CEO Sudip Bandyopadhyay said, "This
is our first move to reach out to the large base of over 2 million NRIs
and PIOs based in Europe with our unique, cost-effective and efficient
bouquet of products and services.
Friday, Aug 29: London property investors are looking towards India as a
profitable investment destination. A seminar at the City Hotel, Brick
Lane, London, at 7pm on September 17th will give London property investors
valuable information on how they can benefit from investing in India's
thriving property sector. It will be hosted by Navyroof.com - the company
that brings investment opportunities from the most up-and-coming areas
of India to the UK.
Thursday, Aug 28: The first ever International Property Show on Gujarat by
The Gujarat Institute of Housing & Estate Developers (GIHED) is being
held in the US Jersey along with AIANAs (Association of Indian Americans
in North America) 'Chaalo Gujarat' -- World Gujarat Conference, Raritan
Center, New Jersey, followed by a Property Showcase in Chicago on 6-7th
September at the Meadows Club, 2950 W Golf Road, Rolling Meadows, Illinois.
Wedneday, Aug 27: Realizing the market for super-luxury homes, more and more
real estate developers are coming up with million dollar homes in formats
ranging from condominiums and suburban town houses to golf villas. The
buyers include NRIs from the US and the UK. The super rich are upgrading
from old buildings (which no amenities to speak of) to new buildings which
have a pool, a gym, liftmen and a concierge, not to mention enough parking
for family's many cars.
Tuesday, Aug 26: Kuwait-based Kanoos Group along with a UK-based firm will
set up a steel plant in Iraq.
The company is led by NRI businessman K S Kaddar Pillai. The Company will
invest Rs 110 crore in the project to be carried forward in partnership
with UK-based IPBD, the company said in a statement here today.
Monday, Aug 25: To preserve the rich heritage, Government of Rajasthan has
called upon NRIs, Non-resident Rajasthanis, individuals, organisations
and corporate houses to sponsor the conservation works of fragile monuments
through Adopt- a-Monument scheme. It calls for public-private-participation
for preserving rich heritage.
Monday, Aug 25: Non-Resident Indians (NRIs) and Persons of Indian Origin
(PIOs) who are foreign nationals constitute 15 per cent of the demand
for Goan real estate, while the remaining is from within Goa according
to a report. While land prices in the rest of the country are likely to
fall owing to the recent hikes in home loan rates, it's quite the opposite
Thursday, Aug 21: The NRI Sammelan held in January this year has been able
to generate an agro-based project in Punjab. The project has received
the nod of the Empowered Committee on Mega Projects and a letter of intent
(LoI) has been issued. Notably, as much as 25 to 40 per cent of bookings
in projects such as Emaar-MGF's Mohali Hills, Parsvnath's Pride Asia,
Pearls City Mohali, to name a few, have come from NRIs.
Thursday, Aug 21: Muscat, the capital of Oman, will be one of seven cities
around the world that will host a key conference aimed at attracting Non-Resident
Indian investment and Person of Indian Origin (PIO) capital to India.
The 'Investors' Meet' in Muscat, on November 9, will showcase "exclusive
customised projects and products for the Indian Diaspora in broad segments,"
Indian Ambassador Anil Wadhwa, speaking at a curtain raiser for the event
here, said. He stressed that the forum would be targeted not only at "big-ticket
investments", but also at the mid-level investors.
Thursday, Aug 21: The International Real Estate Advisory Board has launched
the largest International Real Estate referral program in the world and
has invited Real Estate Professionals from around the globe to become
a registered IREAB Advisor and earn a significant supplemental income
via International Real Estate Referrals.
Wednesday, Aug 20: TWO investor meetings will be held in the Gulf region in November, under an Indian government initiative to help overseas Indians channelise NRI remittances into actual investments back in the country. The Overseas Indian Facilitation Centre (OIFC), a single window investment facilitation centre by the Ministry of Overseas Indian Affairs (MOIA), and the Confederation of Indian Industry (CII), would hold these two meetings in Dubai and Muscat, diplomatic sources said yesterday.
Wednesday, Aug 20: India's Ministry of Overseas Indian Affairs has given
the go-ahead to Manipal Academy of Higher Education (MAHE) to set up such
a facility. The university will be set up at an estimated cost of Rs 6
billion. The idea of an exclusive university for PIOs/NRIs was first mooted
by Prime Minister Manmohan Singh during the Pravasi Bharatiya Divas (Overseas
Indians conference) in 2006.
Saturday, Aug 16: There is a growing number of Indo-Canadians who are snapping
up luxury residential properties in India. Some are flipping the homes
for steep profits or using them as vacation residences. Others are treating
them as lucrative rental properties. Non-resident Indians in the United
States, United Kingdom and Middle East are also fuelling the trend which
has arisen in the wake of legislative changes that have made it easier
for so-called NRIs to buy property, but is not without controversy.
Saturday, Aug 16: The real estate boom is officially over in Hyderabad and
many other cities. The prices of real estate land have fallen in the outskirts
and the price of apartments per sq ft has crashed in the past year. A
key reason could be the sub-prime real-estate crisis and its impact on
real estate abroad has led to several NRI's burning their hands in real
Friday, Aug 15: Despite the current slowdown in the Indian economy, the Non
Resident Indian is investing in various sectors, including real estate.
Several real estate projects across India have garnered approximately
10-20% participation from NRIs.
Friday, Aug 15: The Singapore Indian Chamber of Commerce & Industry (SICCI)
is organizing a business oriented 'Indian Diaspora Event' in October that
is being projected as the first-ever "Pravasi Bharatiya Divas"
outside India. The Confederation of Indian Industry (CII) is backing the
event being overseen by India's Ministry of Overseas Indian Affairs.
Thursday, Aug 14: The Singapore Indian Chamber of Commerce & Industry
(SICCI) is organizing a business oriented 'Indian Diaspora Event' in October
that is being projected as the first-ever "Pravasi Bharatiya Divas"
outside India. The Confederation of Indian Industry (CII) is backing the
event being overseen by India's Ministry of Overseas Indian Affairs.
Thursday, Aug 14: Dubai-based Sternon Real Estate and Mumbai based Garnet
Constructions are all set to begin construction of their upscale NRI township
'Magic Hills Residences' in Navi Mumbai in October and plans to complete
the first phase in 18 months. Hussaini F.
Tuesday, Aug 12: There is good news for the NRI customers of South India
Bank as it has launched a new product for its Non-Resident Indian customers
who maintain higher average balance in their savings accounts. M K Abdullah,
chairman of the Dubai-based EMKE Group that employs more than 20,000 Indians
in 25 countries, issued the first Diamond Account passbook to prominent
NRI accountholder Edwin Tharakan in Thrissur yesterday.
Tuesday, Aug 12: The Securities & Exchange Board of India (Sebi) made
amendments to the regulations regarding foreign institutional investors
(FIIs). In a 16-page notification, Sebi has made amendments to clause
13 of the Sebi (Foreign Institutional Investors) Regulations, 1995. The
amended regulations will be called the Sebi (FIIs) (Amendment) Regulations,
Monday, Aug 11: Cross border residential investment by Indians in international
markets like the UK is increasingly gaining prominence. According to the
report released by Jones Lang LaSalle today, 'UK-India Cross-border Residential
Investment', Indians could potentially own 20,000 - 30,000 UK residential
properties over a 10 year horizon. A favorable investment environment
makes the UK a preferred residential investment market for India's burgeoning
middle class population.
Tuesday, Aug 05: Ahmadabad is all set to become hot spot of realty business.
The NRIs (non-resident Indians) are showing huge interest in the city.
This was indicated by the response given to Indian property road show
held in the US and UK. Goa and Mumbai are behind Ahmadabad in terms of
prospectus of realty business.
Tuesday, Aug 05: An India-centric real estate fund by Cordea Nichani, a joint
venture between British property fund manager Cordea Savills and India's
Nichani Holdings, has been launched in Oman to tap into the Gulf nation's
Monday, Aug 04: Rising interest rates and slowing growth may have dampened spirits across the country but Kozhikode (formerly Calicut) realty market is gearing up for another round of boom. The Kozhikode property show, to be held early next month, would see the launch of around 15-20 projects in and around the city.
Monday, Aug 04: Graj + Gustavsen (G+G), an integrated branding firm known for building
and revitalizing consumer brands announced that it was retained by Madura
garments, a division of Aditya Birla Nuvo, to create a global retail
brand. G+G conceptualized the brand identity, image, store design and
positioning of Peter England PEOPLE, a new vertically branded retail
concept catering to India's burgeoning middle class.
Friday, Aug 01: Despite the downturn, real estate players have increased their advertising
budgets, even as other advertisers are cutting ad costs. The reasons
for this are manifold. "This is a result of desperate measures by most
of the developers, and second, stakes are very high as most of the projects
are not being sold. Developers have gone aggressive with an increase
of 20-35% in the advertising budget due to inflation," said Noshe Oceanic
V-P Rajiv Gupta.
Tuesday, July 29: Dubai's real estate sector still lacks transparency despite
efforts to clean up its image, property and investment management company
Jones Lang LaSalle said yesterday. Dubai's real estate market now ranks
as a tier three, or semitransparent market, up from a tier four, or low-transparent
market in 2006.
Friday, July 25: Milestone Capital Advisors, the real estate venture capital
fund promoted by Ved Prakash Arya, is planning to launch a private equity
fund with a corpus close to Rs 600 crore. The announcement will be made
in a few weeks.
Thursday, July 24: In the midst of a general slow down in the Indian real
estate market, TAIB Bank, a leading private bank based in Bahrain, has
picked up a 26% stake in Anant Raj Projects for Rs 216 crore. The deal,
one of the first Shari'ah-compliant transactions in the Indian real estate
industry, puts the valuation of the subsidiary of New Delhi-based Anant
Raj Industries (ARIL) at Rs 831 crore.
Wednesday, July 23: Credit crunch and economic uncertainty have taken their
toll on the global property market, with transaction volumes falling by
46 per cent in the first quarter, according to a property report. Investment
throughout Asia and other emerging markets continued to grow, as sales
of major commercial properties globally totalled $154 billion (Dh565bn)
in first quarter against $283bn of property that changed hands in first
quarter of 2007, New York-based Real Capital Analytics said in its latest
Wednesday, July 23: Donald Trump Jr. is planning a real estate hedge fund
focusing on luxury properties in India. The son of famed real estate developer
and media personality Donald Trump will raise as much as $1 billion for
the privately-held fund, Bloomberg News report. Analysts expect property
prices in the subcontinent to drop by about 20%, creating opportunities
for the hedge fund.
Tuesday, July 22: LIC Housing Finance, the mortgage arm of Life Insurance
Corporation of India (LIC), is set to foray into the venture capital arena
and intends to start a Rs 500 crore real estate fund by the end of this
Monday, July 21: NRIs should make their trips to the homeland shorter if
they want to avail themselves of the gift tax exemptions, says a recent
ruling by a tax tribunal.
Saturday, July 19: Real estate and infrastructure management sector saw Private
Equity (PE) deals worth $2.32 billion in the first half of 2008, nearly
three per cent higher than the year-ago period, even as the average deal
size fell over nine per cent reflecting the sluggishness in the market.
Thursday, June 12: After cementing plans to pitch Amdavad realty to US-based
non-resident Gujaratis (NRIs) right at their doorstep with a property
show in New Jersey, Amdavadi realtors are now going to Chicago to hard
Saturday, May 31: Thirty-four resident associations of Gurgaon today requested
the Supreme Court to stop proliferation of commercial complexes and save
the city from "complete disaster" as unplanned development had
sunk groundwater levels and created a power crisis.
Wednesday, May 28: Anil Nanda Group Company Akme Projects Ltd today announced
joint venture with private equity firm MPC Synergy Real Estate to develop
seven premium housing projects with an equity investment of about Rs 1,000
Tuesday, May 27: Mr. Mittal, Britain's richest man, is understood to be in
negotiations to buy the property in Kensington Palace Gardens, one of
the most prestigious addresses in London. When the deal goes through,
the house will be the magnate's second property in the tree-lined private
avenue near the Royal residence that was home to Diana, Princess of Wales.
Wednesday, May 21: Peninsula Land, the property development arm of Ashok
Piramal Group, today announced its foray into the hospitality sector with
a joint venture with textile maker and real estate developer Arrow Webtex.
The JV will develop business hotels across the country.
Wednesday, May 21: UK based Sun Group has firmed up plans to invest Rs 550
crore in the real estate sector of Punjab. "Initially, the company
would set up multi facility project which will involve setting up of hotels,
multiplexes and malls in the Mohali district," said a senior official
of Punjab Industries Department.
Wednesday, May 21: Some things make the Reserve Bank of India (RBI) paranoid.
The invasion of foreign money in the Indian property market has always
been a familiar theme that rang alarm bells on Mint Street - the central
Monday, May 19: The joint venture with Vornado is Reliance's fifth global
partnership in three months-the other four being with Marks & Spencer,
Vision Express, Miss Sixty and Office Depot. However, the latest partnership
is important as it would deal with real estate acquisition and management,
which is crucial for the viability of any retail company.
Monday, May 12: The John Buck Company (TJBC) and Shanghai China-News Enterprise Development (SCNED) are poles apart. The former is a Chicago-based real estate firm, the latter is owned by the Chinese government. But the two now share the same boat with UAE firms Mubadala and Emaar.
Monday, May 12: Indian properties at showcase by reliable and trusted Indian Real Estate Developers. INDIA Real Estate Expo 2008 is showcasing residential and commercial properties in Dallas, TX & Seattle, WA. Expo begins on May 31st 2008, and ends on June 8th 2008.
Wednesday, May 07: Hampshire Hotels and Resorts (HHR), owned by the NRI Sant
Singh Chatwal, is developing two properties in Kochi, one of which is
in a privately owned island in the heart of the city. Sources told FE
that the island property would be developed jointly with its owners, a
Kochi based architect firm, which had forayed unsuccessfully into real
estate business way back in 90s.
Tuesday, May 06: The sub prime mortgage crisis and its potential impact on
US economic growth has raised concerns whether growth in India - which
averaged over 9% in the last three years - will be adversely affected.
The Indian economy showed signs of overheating in mid-2007, with inflation
rising above 6%. Although the central bank has pursued a tight monetary
policy, inflation has recently risen above 7%.
Tuesday, May 06: Cartier, an iconic French luxury watches and jewellery brand,
will soon set up shop in India to cash in on the growing affluence. "We
are in the process of setting up our boutique in the Delhi region as we
have got necessary approval from the government," Richemont FZE Managing
Director Patrick Normand told reporters.
Tuesday, May 06: UAE's leading property developer Aldar has signed an exclusive
agreement with Indian hotel giant the Taj group to develop a five-star,
500-room luxury resort hotel on Abu Dhabi's Yas Island. The hotel will
be branded as Taj Palace Hotel on the lines of the elegant, original palaces
hotels of the Taj and will have facilities and services to match the exceptional
Monday, May 05: The Dubai-based Landmark Group expects its Indian retail business to treble in next three years. The company operates chain of Lifestyle department stores and has launched the home decor retail format 'Home Centre'.
Monday, May 05: The Maharashtra Chamber of Housing Industry (MCHI) is organizing
an exhibition of some of India's prestigious properties at the Al Boom
tourist village in Dubai from May 8-10. Christened India Realty Expo 2008,
it will showcase high-end properties targeted at high net worth individuals
and Non Resident Indians.
Monday, May 05: Real estate firm Shristi Infrastructure, which had set up
a joint venture hotel management company, Domina India, with Milan-based
Domina Hotel Group last year, all set to introduce three sub-brands under
the umbrella Vedic label in India.
Saturday, May 03: For the Gujarat Institute of Housing and Estate Developers
(GIHED) has joined hands with the Association of Indian Americans in North
America (AIANA) to host their first international property show at the
second 'Chaalo Gujarat: World Gujarati Conference' to be held at New Jersey
in August 2008. The first conference was held in New Jersey in September
Friday, May 02: Goldman Sachs, Deutsche Bank and another financial investor
are likely to make a combined investment of $800 million in three special
purpose vehicles (SPVs) being created by real estate major Emaar MGF.
Each SPV will have one financial investor, who will hold minority stake.
Friday, May 02: Townships with designer interiors and world-class architecture
are passé. Developers are now turning to golf to attract non-resident
Indians and high net worth individuals in the premium housing segment.</p><p>
Residential dwellings built around a golf course are the latest buzzword
in the super-premium housing segment of the Indian realty industry, estimated
at $15 billion and growing at 35 per cent annually.
Thursday, May 01: Real estate firm Uppal Group is planning to invest over
Rs 8,000 crore in the next five years to develop four special economic
zones and two hotels in the north India. The Delhi-based company has already
received the notification for two SEZs in Gurgaon, while it has got the
formal approval for two SEZs planned in Uttar Pradesh.
Thursday, May 01: Pune-based real estate companies, the Avinash Bhosale group
and Kumar Properties, have joined hands to set up a Rs 1,400-crore township
in the third phase of Rajiv Gandhi Infotech Park in Hinjewadi here. The
project - Megapolis - comprises 5,800 flats, studio apartments and an
IT special economic zone.
Thursday, May 01: An industry survey estimates that the three major Indian
metropolitan areas - Bangalore, Mumbai and Delhi - command some of the
highest hotel rentals in the world. The study, conducted by Indusview
Advisors, found that Bangalore had the world's highest room rentals, averaging
about $500, with Mumbai ($400-450) coming in a notch lower and Delhi ranking
third at $350 plus.
Thursday, May 01: Red Fort Capital, an international private equity fund,
is planning to invest Rs 3,500 crore in the country's real estate sector
during the next one year.
Monday, April 28: Budget hotel chain Choice Hotels India plans to open 20
new hotels adding about 1500 rooms across India, with an estimated budget
of around Rs 600 crore in the next two years.
Monday, April 28: Real estate developers and agents in India are now offering
more solution to market properties to Non-Resident Indians (NRIs) and
international real estate investors.
Friday, April 25: Real estate developers and agents in India are now offering
more solution to market properties to Non-Resident Indians (NRIs) and
international real estate investors.
Thursday, April 24: Real estate developers and agents in India are now
offering more solution to market properties to Non-Resident Indians (NRIs)
and international real estate investors.
Tuesday, April 22: Royal Group of UAE and Netherlands-based GTC Real Estate
are in the race to acquire 26% stake in the Delhi-based Raheja group's
engineering SEZ in Gurgaon for Rs 500 crore. It has been learnt that the
Raheja group may ink the deal with either of the two groups in the next
Tuesday, April 22: Forget slowdown jitters and dollar
decline, Indian hospitality industry registered strong growth in 2007-08.
Though hotel occupancies in Bangalore, Hyderabad and Pune dipped marginally
owing to over capacity, average room rates (ARRs) for branded hotels across
star categories continue to witness robust growth in most cities.
Tuesday, April 22: Rentals in the National Capital
region are expected to stabilize in the next quarter as supply is set
to increase Gurgaon and Noida, says a report. According to commercial
real estate services firm CB Richard Ellis, rentals are expected to be
stable in the next quarter as the supply is set to increase significantly
in Gurgaon and Noida.
Tuesday, April 22: Marriott has signed a management
contract with Prestige Estates Projects Private Limited, for a 300-room
golf resort, spa, and convention center in Bangalore, India. When opened
in 2012, the Bangalore Marriott Golf Resort & Convention Center at
Nandi Hills will be Marriott's fifth property in Bangalore and 30th in
Saturday, April 19: The sub prime crisis may have struck
in the US, but real estate companies around the world are feeling the
heat. The meltdown in property firms' valuations in other economies, including
India, China, Japan and the UK, has surpassed that of the US with Indian
real estate companies witnessing one of the biggest falls.
Friday, April 18: Banks and wealth managers are moving
to target the 1.1 million expat Indians in the UK worth about £100
billion, who are becoming a growing investment force here and worldwide.
Friday, April 18: An India fund run by Singapore-based
industrial property developer Ascendas said on Wednesday it would invest
about $375 million to develop an economic zone and residential and commercial
Thursday, April 17: Delhi-based DLF group would soon
have its presence felt in the fringes of Chandigarh as the company is
coming up with their DLF Garden City Project near Panchkula for which
the company is eyeing 200 acres. Out of the 200 acres, the company is
said to have acquired 34 acres with rest being underway.
Thursday, April 17: CITIGROUP's real estate arm is
set to invest around Rs 400 crore ($100 million) in Bangalore-headquartered
Golden Gate Properties for about 10% stake, sources said. The deal is
expected to value the tier-II real estate firm at a little over $1 billion.
This marks Citigroup's back-to-back deals in the domestic real estate
space in the last fortnight. Early last week, the global financial giant
unveiled $160 million play in Delhi-based BPTP.
Thursday, April 17: Till some time back, the advertisements
for specific housing projects were largely confined to property supplements
or niche magazines, but now it has moved on to TV and has an increased
presence in print.
Tuesday, April 15: Global realty brokerage firm Century
21 Real Estate LLC on Monday announced its foray into the Indian market
with plans to open offices across the country, where it is eyeing a
business of Rs 1,000 crore in five years.
Tuesday, April 15: Parsvnath, which has no retail
pedigree, seems to have inched closer to a deal with Groupe Casino mainly
on the back of its real estate strength. The company, which reported
net sales of Rs 465 crore and a net profit of Rs 112 crore for its December
Saturday, April 12: India is the most sought-after
market by retailers with 40 per cent of them expecting emerging markets
to be their source of growth in the next five years, a recent study
by CB Richard Ellis says.
Saturday, April 12: Real estate developers who till
now had been out of the service tax net may soon have to loosen their
purse strings, if a recent verdict by the Authority for Advance Rulings
in Delhi is enforced by the central excise and customs department. The
ruling has sent the realty market into tizzy as any additional cost
would mean passing it on to the customers.
Wednesday, April 09: Despite long commutes and bad
roads, as developers churn out office space, several large Indian companies
continue to flock to Gurgaon, and the slow trickle that started in the
late 1990s has become a virtual flood today.
Wednesday, April 09: Citigroup Property Investors
has invested Rs 640 crore in four special economic zones (SEZs) being
developed by the Delhi-based real estate developer BPTP, picking up
a 40 per cent stake in the special purpose vehicle.
Tuesday, April 08: More and more Indians are investing
in properties abroad, a trend that has led to huge incentives being
thrown their way, by way of free plane tickets for a reccee, holiday
packages or even a private jet on a penthouse! And the preferred markets
for Indians are Dubai, Singapore, Malaysia, US and UK.
Monday, April 07: Bangkok has more hotel rooms than
both New Delhi and Mumbai put together, a critical shortage that has
made tourist accommodation expensive and is driving away international
conferences to South East Asian destinations.
Monday, April 07: Townships with designer interiors and world-class
architecture are passé. Developers are now turning to golf to attract
non-resident Indians (NRIs) and high net worth individuals (HNIs) in the
premium housing segment.
Monday, April 07: Unitech Ltd, one of India's real estate giants, announced the launch of Aqua and Terra - two of the tallest towers of its grand residential project - at a Derby event at the Delhi Race Club here Sunday.
Saturday, April 05: The Real Estate Investment Trusts (REITs) would
have potential to hold at least 5% share of the total global real estate
market by 2010, the size of which would turn to USD 1,400 billion in next
3 years, according to joint paper prepared by the ASSOCHAM and CRISIL.
Saturday, April 05: Taj-Express Industrial Development Authority (TIDA)
is all set to
develop a new township as special development zone (SDZ), along the
non-stop 165 km long Taj Expressway. TIDA has invited applications for
SDZ under open scheme. Land will be allotted in SDZ for core activities
that include IT, industries, biotechnology, service sectors, commercial,
residential and sports, according to the allocation policy.
Saturday, April 05: The 23-km Express Highway between Noida and Greater
Noida is the buzzword in the real estate industry today. The infrastructure
project, which traverses across 40 sectors of Noida, has already started
benefiting the properties spread over 321 hectares in Greater Noida.
Friday, April 04: A luxury villa designed by Giorgio Armani, an 18-hole golf course
conceptualized by Greg Norman and skyscrapers with the FX Fowle touch
- hiring global professionals has become a new trend with Indian realtors.
Monday, March 31: DAMAC Properties - the largest real estate developers and luxury lifestyle provider in the Middle East signed up with 60 agents in India across metros and tier one cities. DAMAC Properties has taken this initiative to market and sell their regional properties to the Indian investors keeping in mind its philosophy of customer care.
Saturday, March 29: A move is afoot within the government to liberalize
the norms for foreign direct investment (FDI) in real estate. The department
of industrial policy and promotion (DIPP) has circulated a Cabinet note
proposing waiver of two conditions-the three-year lock-in on foreign investment
and the minimum investment criteria of $5 million for joint ventures or
$10 million for wholly-owned ventures.
Friday, March 28: Pacific Star, a Singapore-based Asian real estate
investment house, says it is raising $2 billion for its new Asia Fund
Select Concept Fund. The fund will be the first of its kind in real estate
investment, being open-ended and targeted at institutional investors worldwide.
Friday, March 28: Despite fears of slowdown, investments in the Indian
properties continue unabated. The Euronext-listed real estate investment
company Yatra Capital has invested nearly Rs 175 crore in Bangalore-based
Thursday, March 27: Mumbai-based Rs 830 crore real estate developer
Zoom Developers has signed a memorandum of understanding with Yoo Holdings,
a $10 billion global property development company, to form a special purpose
vehicle to execute medium and large-scale real estate projects on a national
as well as international level.
Tuesday, March 25: UAE Property major Emaar Properties has said that
it will reconsider its initial public offering (IPO) in India "when
the time is right" though the company is bullish about the trend
in Indian real estate market.
Friday, March 21: There would be no dilution in the promoters' stake
post-acquisition, as the transaction involved an exchange of stakes between
Quantum and global financial firm Morgan Stanley.
Friday, March 21: In the league of the most preferred property market
among foreign investors globally, US has retained its top position, while
China was ranked second followed by India, a survey conducted by the Association
of Foreign Investors in Real Estate (AFIRE) said.
Thursday, March 20: Cushman & Wakefield, one of the world's largest
property consultancy firms, said the real estate downturn in the US could
continue and that India, China and the Middle-East will become even more
attractive as these markets offer huge opportunities for investment.
Wednesday, March 19: As home sales continue to dip, real estate developers
are tapping the luxury home segment by targeting non-resident Indians
and high net worth individuals keen on buying that exclusive villa in
Wednesday, March 19: Dubai-based Emaar Properties is now planning to launch private residences, to be called `Armani Residences` designed by Giorgio Armani himself, by its Indian joint venture Emaar MGF Land
Tuesday, March 18: Religious tourism is pushing the realty industry's
growth in destinations like Vrindavan, Mathura, Haridwar, Ajmer, Amritsar,
Tirupati and Nasik - cities on the fast track and emerging hot spots for
real estate developers.
Saturday, March 15: Local realtors in India need no longer confine their
activities to the local market. They can now extend their operations by
transacting on a global level. This was made possible by the National
Association of Realtors - India (NAR-India) and Bangalore Realtors Association-
India (BRA-I), who facilitated the Transnational Referral Certification
(TRC) programme for the first time in India, in Bangalore recently.
Saturday, March 15: Local realtors in India need no longer confine their
activities to the local market. They can now extend their operations by
transacting on a global level. This was made possible by the National
Association of Realtors - India (NAR-India) and Bangalore Realtors Association-
India (BRA-I), who facilitated the Transnational Referral Certification
(TRC) programme for the first time in India, in Bangalore recently.
Friday, March 14: Have NRIs interest been ignored in the latest Indian
budget? Since the government is all out to get votes for the general election
next year, special concessions for NRIs were perhaps not a priority after
all. The focus was clearly on farmers and the common man. Another factor
could be the high inflows of foreign funds invested in stocks and India's
foreign exchange reserves crossing the $300 billion watermark.
Friday, March 14: The real estate market in India is worth about $12
billion and is growing at about 30 percent a year, Ernst & Young said
in a report last month commissioned by the Federation of Indian Chambers
of Commerce and Industry. Rising incomes, easy financing and population
growth are driving demand for housing and luring overseas investors.
Thursday, March 13: The government on Wednesday set out conditions for
automatic approval of 100 percent foreign direct investments in industrial
parks.Such parks would have to house a minimum of 10 industrial units
and at least 66 percent of their developed area would have to be allocated
for industrial activity, a trade ministry note said.
Thursday, March 13: With units in special economic zones (SEZs) permitted
to treat their domestic sales as export earnings, the government had
to forgo revenue amounting to nearly Rs. 2,000 crore, the Comptroller
and Auditor-General of India (CAG) has revealed.
Thursday, March 13: Citigroup, Merrill Lynch and DE Shaw may pump-in Rs
20 billion (USD 500 million) in the DLF Assets`(DAL) real estate investment
trust (REIT), part of the DLF group. The deal is likely to be wrapped
up by early next week.
Thursday, March 13: The government on Wednesday issued guidelines on big-ticket
changes to the foreign direct investment norms in the country that were
approved by the Union Cabinet on January 30. It, however, remained silent
on clarifying a change in norms for FDI in real estate, possibly due to
fear of greater capital inflows.
Wednesday, March 12: The size of the fund, which is awaiting regulator
approval, is likely to be Rs 3-3.5 billion. LICHF`s new realty fund is
expected to invest in residential projects. LICHF had taken a 5% stake
valued at Rs 75 million in the new Rs 1.5-billion credit card arm of LIC,
which is likely to begin operations in six months.
Wednesday, March 12: The government said that the direct tax collections
have grown more than 40% at Rs 2,326.76 billion till February 2008 this
fiscal. The amount collected by the income-tax department was 41.70% higher
than the corresponding figures during the previous year.
Wednesday, March 12: India may soon overtake Britain as a favored investment
destination in the world unless Chancellor Alistair Darling cut taxes
in its budget. This is accordingly to a survey by a leading consultant
Wednesday, March 12: For many globetrotting Indians, owning property in
India may be a cherished dream. For others who have set up permanent homes
abroad, selling whatever property they own here might be more meaningful.
Tuesday, March 11: Indian Budget 2008 stands as a model with focus on
development for the world and most apt for emerging economies. This budget
is both transformational and historic with respect to the treatment it
offers on social, economic, gender, educational, culture, inclusive growth,
class equality and developmental issues.
Monday, March 10: Rodere Holdings, Cyprus, agreed to make a foreign direct
investment of up to Rs 200 crore in Orbit High city, a wholly owned subsidiary
of Mumbai based realty player, Orbit Corporation. The said investment
would be used to develop township projects in Metropolitan region.
Monday, March 10: Reliance Money is getting ready to offer equity trading,
Indian mutual fund products and portfolio management services to Singapore-based
non-resident Indians (NRIs). The firm is setting up a new company which
would serve as the base for South East Asia covering Singapore and Malaysia,
both of whom have a large chunk of NRI population.
Friday, March 07: NRKs will have to fork in more money to buy and sell
property back home since the Budget imposes new stamp duties on property
transactions done through power of attorney. Apart from this the Budget
is silent on any fresh imaginative schemes for tapping NRK funds.
Thursday, March 06: Property in Lucknow is very much a sought after option
for NRIs in the Gulf," said Sushanto Roy, head of Sahara Infrastructure
and Housing, a leading real estate developer currently building several
Wednesday, March 05: Sunway City Berhad, part of the USD 1-billion Malaysian
Sunway Group, has picked a 60% equity in a joint venture with the Hyderabad-based
MAK Group for a Rs 3.5-billion high-rise realty project.
Wednesday, March 05: Kamaljit Singh, the Newly elected President of NRI
Sabha Punjab called Punjab CM Parkash Singh Badal at his residence on
Tuesday morning and assured full support and cooperation to the state
government for the welfare of the NRIs.
Tuesday, March 04, 2008: Further, NRIs have the option of offering their
investment income and long-term capital gains income arising from specified
assets to tax at beneficial rates - 20% for investment income and 10%
for long-term capital gains.
Friday, February 29, 2008: The Chief Minister expressed his concerns on
Global warming while explaining the rationale behind the need to have
eco-friendly buildings. The government is considering the merits of making
rainwater conservation mandatory for developers.
Thursday, February 28, 2008: Remittances are reflected in `private transfers' in the balance of payments. It comprises remittances for family maintenance, local withdrawals from Non-Resident Rupee Account, gold and silver brought through passenger baggage, and personal gifts/donations to charitable/religious institutions.
Tuesday, February 26, 2008: Though City and Industrial Development Corporation's
attempt to attract non-resident Indians (NRI) to the satellite city almost
failed after Seawoods Estate Part I, Navi Mumbai still attracts NRIs interest
in settling down in the city, thanks to different infrastructure projects
that are underway in the city.
Monday, February 25, 2008: Singapore based company, BJETS, which is owned
by Balaji Ramamoorthy, a person of Indian origin planning to pump in nearly
$900 million (Rs 3,600 crore) to bring 100 business jets to India for
charter and fractional ownership business. According to sources the company
has wanted permission to buy Business Jets India, a company set up by
the Ramamoorthy family, for its Indian foray.
Friday, February 22, 2008: The healthcare sector is growing at an annual
growth rate of 16 per cent and is expected to touch a turnover of $ the
50.2 billion by 2011. It is estimated that an investment of $77.9 billion
will have to be made in order to reach the optimal target of 1.85 beds
per thousand population. Of this investment, $69.7 billion is expected
to come from the private sector.
Thursday, February 21, 2008: NRI businessman S Sivasankaran has acquired
a Norwegian shipping firm, JB Ugland Shipping (JBUS), for Rs 1,200 crore.
Mr Shivkumaran earlier gained popularity by selling his telecom business
Aircel to Maxis of Malaysia for $800 million.
Wednesday, February 20, 2008: If India truly wants its Diaspora to develop
a sense of belonging and invest not just with their hearts, but also with
their heads then the authorities here need to pay heed to such requests.
Tuesday, February 19, 2008 : Reliance Industries is in advanced talks with
the New York-based Vornado Realty Trust, one of the world's top five real
estate asset managers, to float a $1-billion plus fund. The proposed fund
will acquire and manage properties, mainly in the retail space, across
Monday, February 18, 2008 : The past two years have seen outstanding growth
in the Ahmedabad real estate sector; the growth is even faster than Delhi
and Mumbai. The city is gaining immense NRI attention because of the lucrative
Friday, February 15, 2008 : The review of the foreign direct investment
(FDI) policy by the union cabinet has some real good news for the tourism
and the aviation sectors. The same will also lead to further liberalisation
as NRI investments would be allowed up to 100 per cent on the automatic
Thursday, February 14, 2008 : The latest to enter into the mushrooming
Indian Real Estate Sector, PBEL, a collaborative effort of Israeli giants
Property and Building Corporation (PBC), Electra Real Estate (ERE) and
an Indian developer INCOR Infrastructure, today announced that the company
has invested in property, worth Rs 500 crore, across three cities in India.
Wednesday, February 13, 2008 : The sixth Prasar Bharti Divas held in January,
earlier this year, has spawned a number of business meetings to attract
NRI investments, ideas and technology in various Indian States. The list
includes states like Punjab, Gujarat, Haryana, Maharashtra and Delhi.
Tuesday, February 12, 2008 : Indian Stock Market and Real Estate sector
is attracting NRI attention in a huge way. Non-resident Indians are more
and more tending towards investment in these two sectors. This is primarily
due to the fact that India is growing at a faster pace than other countries
and the equity market has outperformed those of developed nation
Monday, February 11, 2008 : Global Organisation of People of Indian Origin
(GOPIO), US based NRI organization further explained that NRIs have substantial
properties and investments in residential and commercial real estate in
India, but the laws of the land do not provide enough relief to protect
them from defaulting tenants or usurpers.
Friday, February 08, 2008 : Kerala which has always been the highest grosser
of inward foreign currency remittances so far, may soon lose its place
to states like Gujarat, Punjab, Tamil Nadu, Andhra Pradesh and Maharashtra,
mainly because of change in profile of migrants, who now include traders
and professionals like techies, bankers, fund managers, doctors and lawyers
who have emigrated to the US, Europe, Africa, Hong Kong and Singapore.
Thursday, February 07, 2008 : According to Sources Embassy would look at
raising the cash through multiple special purpose vehicles (SPVs). Sources
also revealed that the real estate arm of Citigroup PE was in advanced
talks to invest $100 million into one of the proposed SPVs.
Wednesday, February 06, 2008 : The event is organized by EventPro International
in association with Convergence, UAE. The organizers aim to provide an
opportunity for buyers and sellers to meet, network, negotiate and cut
deals on a neutral ground.
Tuesday, February 05, 2008: A NRI doctor has revealed his plans to establish a Rs.550 million ($12 million) homeopathy hospital, college and research centre in Madhya Pradesh. Rabi Roy, the Germany based met Chief Minister Babulal Gaur to discuss his plans.
Monday, February 04, 2008: The second largest commercial hub in Kerala, Trissur is witnessing
immense investment. Real estate biggies like Sobha Group have launched
projects in Trissur in the recent past. According to the builders located
here, there is no let-up in demand and the sector is showing signs of
robust growth in the medium term.
Friday, Februaury 01, 2008: Is the Indian real estate market heading toeards
a slowdown? Seeing the momentary uncertain economic scenario, slowdown
in export-driven industries, high interest rates and lacklustre credit
growth in the real estate markets definitely raise a question.
Thursday, January 31, 2008: Mobile phones have become the fourth essential
commodity after roti, kapda aur makaan, said Kishore Biyani, Managing
Director, Future Group, adding that the mobile phone industry was eating
into the share of the apparel fashion industry. He also maintained that
marketers should visit the 'real' India, to innovate on products rather
than go to the US or the UK.
Wednesday, January 30, 2008: RBI might have disappointed realty companies
that were looking forward to cheaper home loans to revive growth, but
the government is ready with a booster dose: exempting foreign direct
Friday, January 25, 2008: According to the groups managing director the
group will open two hypermarkets in Kozhikode district. The first one
will be at Nadapuram (60 km from Kozhikode) and it will be opened before
July. The next one is at Vatakara (40 km from Kozhikode.
Thursday, January 24, 2008: Under the India-centric scheme, India Access, Oman Arab Bank-Investment Management Group has joined hands with Kotak Securities Ltd for providing financial products and services to potential investors in Oman including NRIs, Omanis, other nationals, corporate and non-corporate bodies.
Wednesday, January 23, 2008: Elaborating the same Mr. Chetan Mehra, regional head, Private Banking
and NRI services (GCC and Africa), said that the fund is largely focused
on Middle Eastern investors and gives them the chance to be part of
India's growth story. The fund, which offers a drawdown and close-ended
option, will have a minimum investment level of $50,000 (Dh183,500)
and will be open to all nationalities.
Tuesday, January 22, 2008: Better late than never, Kerala seems to be taking the right steps,
though a bit late. The state is making an effort to canalise the remittances
made by NRIs from the State to productive projects.
Monday, January 21, 2008: The boom in real estate sector in India in the 21st century is expanding its wings even in remote towns. Leave aside metro cities, smaller towns have attracted construction activity from big developers. Shopping malls, skyscrapers and new infrastructures are shaping new India.
Friday, January 18, 2008: Non Resident Indians (NRIs) are avoiding NRI
deposit schemes and are sending higher amounts instead to relatives back
home. The July-September 2007 quarter witnessed a phenomenal hike in the
remittances, the figures touched a new high of $10 billion.
Thursday, January 17, 2008: With more the 200 projects displayed, the
Indian Property show marked a Phenomenol opening. Dinesh Bhatia, Charge
D'Affairs, Indian Embassy, inaugurated the exhibition organized at the
Ramada Hotel, Kuwait.
Tuesday, January 15, 2008: Bangalore, The IT capital of India Bangalore
with the outstanding culture and high-standard of living is emerging as
the new favourite destination for NRI's.
Bangalore real estate market has experienced a dynamic change in past
Government lures NRIs with Attractive Schemes
Tuesday, January 15,
2008: Haryana is all set to woo NRI's to invest maximum in the state.
Haryana Chief Minister has declared 10 per cent reservation of plots in
all its industrial estates for NRIs, which is quite a lucrative offer.
Monday, January 14, 2008: Gurbax Singh Malhi, four-time Canadian-Indian
MP on Sunday urged Chief Minister Parkash Singh Badal to discuss with
Centre the issue of setting up of a trade centre in Canada to assist Punjabi
NRIs in investing in their native state.
Friday, January 11, 2008: The northeast India Investment summit will start
from tomorrow. The summit will be a great platform for foreigners and
the NRI's from the North East to explore opportunities in the region.
The event will allow them to look for joint venture opportunities Besides
eyeing joint venture opportunities, they will assess the modalities on
Thursday, January 10, 2008: Leading builders and housing finance institutions will be participating
with a large number of residential and commercial properties from North,
South, East & West would be vying for space.
The Exhibition will be a platform to bring under one roof reputed builders,
diverse properties and the best financing options from the bank so that
customers can shop for their dream home with least effort and maximum
Wednesday, January 09, 2008: Inaugurating the sixth Prasar Bharti Divas,
The Prime Minister, Dr Manmohan Singh, appealed to India's vast NRI population,
estimated to be 25 million spread over 130 countries, to make an investment
of their varied knowledge in India
Tuesday, January 08, 2008: Lending his helping hand to the Punjabi NRI's,
Punjab Chief Minister, Prakash Singh Badal announced an 11-member advisory
committee to be set up to advice the government on issues relating to
Tuesday, January 08, 2008: US Based NRI, Sant Chatwal, owner of New York-based
Hampshire Hotels and Resorts has proposed an investment of Rs 5,000 crore
to build hotels across India within the next four years.
Monday, January 07, 2008: The US India Political Action Committee, a forum
that represents Indian Americans has promised the Bangalore state government
that it will it will channelise US (including NRI) investment and new
technologies into Bangalore provided the state Government promises good
Monday, January 07, 2008: Northeast joins the race to get maximum investment
from the NRI's. Guwahati is all prepared to play host to a group of 70
overseas investors, including 50 NRIs, on the sidelines of the Pravasi
Pradesiya Divas in New Delhi from tomorrow.
Saturday, January 05, 2008: One of the prominent figures of the US politics,
hotelier Chatwal is all set to make his country proud once again by establishing
'boutique hotels' in India. Chatwal plans to invest over a billon dollars
Friday, January 04, 2008: India is in look out for a contribution from
the NRI's in the country's development process in order to tighten its
economic growth and toughen the bonds of the oversea Indians with their
Thursday, January 03, 2008: The months of March and April 2008 will witness
the biggest Indian realty Show ever to be held in USA. The exhibition
cum seminar will provide an opportunity for Indian Developers to meet
and interact with NRI customers.
Wednesday, January 02, 2008: Gujarat is all prepared to host the NRI global
Business Meet in January. An umbrella organisation of the global Gujarati
community has organised the International NRI Business Summit 2008.
Tuesday, January 01, 2008: The Overseas Indian Facilitation Centre (OIFC)
, a unit of ministry of overseas Indian affairs (MOIA) and CII, set up
to o offer investment advisory services to NRIs and PIOs around the world,
is going to run a market place at the Pravasi Bharatiya Divas 2008.
Monday, December 31, 2007: Hyderabad is rapidly becoming a hot investment
hub for NRI's, more and more NRI's are investing in Hyderabad real estate
as luxury housing segment is on an upsurge.
Friday, December 28, 2007: India is fastly emerging as the hottest investment
hub for NRI's. The country is the 10th largest economy in the world and
the 4th largest in terms of purchasing power parity (PPP).
Thursday, December 27, 2007: Citibank, Deutsche Bank and Sequoia Capital
are in talks with Ludhiana-based Nahar Industrial Enterprises (NIEL) to
have a 15-20% stake in its fully- owned division Nahar Retail for Rs 120
Wednesday, December 26, 2007: Naveen Kumar Sharma, a non-resident Indian
from USA is setting up the country's first multimedia museum at Nalanda.
Located in Bhara, Nalanda is well known for its ancient site of Buddhist
learning, Nalanda University.
Tuesday, December 25, 2007: It's a wonderful time for the ad Industry.
The sector has witnessed a double digit growth rate estimated at 15 and
20 per cent this year, primarily because of Infrastructure and real estate
companies' demand of advertising.
Monday, December 24, 2007: Gujarat has massive NRI population and at this
vacation time all of the come back home to celebrate. One of the main
pull factors for young NRI’s this season is to tie the knot! It comes
as no surprise then, that the community which is known live life to the
fullest, spends heavily this season, be it on clothing, jewelry, traveling,
Saturday, December 22, 2007: The mushrooming Indian real estate market
in the country has encouraged industry players to come up with a range
of innovative products for people interested to pay. Whether it be real
estate developers, real estate fund managers, banks or housing finance
Friday, December 21, 2007: Unitech Corporate Parks Plc, a real estate
investment firm listed on AIM market of London Stock Exchange, has proposed
to sell stake in three of its development projects for 234.1 million pounds
(Rs 1,830 crore).
Thursday, December 20, 2007: Mint Homes, the US-based Rs 300- crore real
estate development and construction group, promoted by a non-resident
Indian, plans to invest Rs 100 crore in high class housing, resorts, eco
tourism and integrated organic farms in Coimbatore.
Wednesday, December 19, 2007: Maars Software International,a key player
in enterprise resource planning (ERP) solutions, client server applications,
GUI frontends, CRM and eBusiness solutions had unveiled its plans to step
into real estate business in India with joint ventures to develop residential
and commercial complex with Rs 20 billion project cost.
Tuesday, December 18, 2007: Bob Dhillon is on the verge of creating history
by becoming the first Sikh billionaire in North America. It all started
when he went to do his MBA at the University of Western Ontario, London,
Ontario, nine years ago.
Rising Rupee Gives Tough Time to NRI's
Monday, December 17, 2007: Overseas Indian Workers are experiencing
a tough time with the surprising rise in the value of rupee against dollar.
In the last one year the rupee has risen by almost 12% which is quite
Sunday, December 16, 2007: In a recent function held at Asiana Restaurant
Banquet Hall, Doha Bank disclosed the Infrastructure Advantage Fund NFO
of UTI Mutual Fund.
Thursday, December 13, 2007: Holy Faith Builders & Developers Pvt
Ltd an ISO 9001 certified company from Kochi has opened its 'NRI service
counter' in Muscat, in collaboration with Sixth Element.
Flourish with the Increase in NRI's
Wednesday, December 12, 2007: The upsurge in the number of Indians living
abroad is continuously increasing the remittance of money from abroad
into India. According to experts the market is expected to flourish
on a continual basis.
Modi Gets Massive
Tuesday, December 11, 2007: Distance doesn't matter when it comes to
their love for the first man of Gujarat, Narendra Modi. Far away from
their hometown, Gujarat, US-based supporters of Chief Minister Narendra
Modi are leaving no stones unturned in getting Modi back to power.
Fascinated by Small Town Property market
Monday, December 10, 2007: There is a growing feeling in some quarters
that speculative overindulges of domestic 'black money' and foreign institutional
investments are responsible for the unbelievable escalation in the real
Sunday, December 09, 2007: The remarkable success of the inaugural Indian
Property Show 2006 which received a huge response of around 12,000 visitors
and generated enquiries to the tune of INR 2,167 crores (US$ 450 million)
Friday, December 07, 2007: With the entry of lower segment (below Rs 20
lakh) properties, drastic changes are expected in the Bangalore's residential
realty market. Speaking at a press conference, President Mr.Balakrishna
Hegde said, "A few Bangalore developers have already begun to work on
an entry strategy for the lower segment and by mid 2008 there entry is
Tuesday, October 23, 2007: Indians in the US celebrated Bobby Jindal’s
impressive win with 53% votes to become the first non-White Governor of
Louisiana. The 36-year old represents the Republicans, and mirrors the
growing political aspirations of the NRI community in the US.
Tuesday, July 31, 2007 : NRI Jasvir Gill became a known celebrity in Silicon Valley by selling his company “ Virsa System” to German software giant SAP. Specializing in software enabling companies to be in compliance with Sarbanes-Oxely and other government regulations, Virsa earned Gill accolades and millions.
Tuesday, July 31, 2007 : NRIs in London are increasingly cashing in on the demand for Indian food known for its spicy flavor. Catering to not just NRIs but also to visiting Indians, the food at these authentic Indian restaurants in London is equally relished by the British.
Friday, July27, 2007 : NRI scientist Himanshu Jain has grabbed the prestigious Otto Schott Research Award in glass research. He was honored for his contribution to the study of atomic movement in glass.
Wednesday, May 23, 2007: The Norwegian Academy of Science and Letters awarded the Abel Prize, Norway's equivalent prize for Mathematics to NRI Srinivasa S.R.Varadhan for his research on the probability theory, particularly in the field of unified theory of large deviations.
Tuesday, May 22, 2007: Jay Goyal is Ohio's Young Democrat of the Year, and a role model for "Ohio's young people" according
to Ohio Governor Ted Strickland.
Thursday,May 10,2007: Former UN Under Secretary General Shashi Tharoor has been conferred the Pravasi Bharatiya Samman Award by the Indian Government in appreciation of his brilliant record as an international civil servant and contribution as a writer on social, political and international issues.
Mira Nair, the renowned New York based film director, will be
honored with the prestigious 'Pride of India' award at a Bollywood
awards show to be organized on May 26 at the Nassau Coliseum,
Wednesday, April 18, 2007
Tuesday, April 17, 2007
Tuesday, April 10, 2007
Thursday, March 22, 2007
Monday, March 12, 2007
Monday, Februaury 19, 2006
Firday, Februaury 09, 2006
Sunday, December 11, 2006