Right time for NRIs to invest in India: Federal Bank

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.

Indian suggests alternative to capitalism and socialism at NRI meet

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 financial turmoil.

Pravasi Bhartiya Diwas attracts NRIs from 20 countries

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.

Nano driving NRI investors to Gujarat

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.

Haryana to attract investment of over 4000 cr, expects sizeable contribution by NRIs

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.

ICICI launches online trading facility for NRIs

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."

RBI approves FII participation in IDRs, to consider NRI subscription issue

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.

NRI deposits rise in Kerala banks

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 report.

India reaching out to NRI investors

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.

NRI Investment in Kochi on the rise

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.

US financial turmoil makes NRIs turn to Indian Banks

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.

Corporation Bank sets up base in Dubai

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.

PNB hikes interest on non resident deposits

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 today.

Banks want to raise interest on NRI deposits

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.

RBI not to change interest rates

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 said.

NRIs eyeing Mohali

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.

Fall in rupee raises remittances from Gulf

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.

ICICI to hike interest on NRE, FNCR deposits

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.

FIIs raise stake in Indian firms

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.

NRIs invite Trump Jr to invest in Gujarat

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.

RBI influence in Forex may decrease with FIIs in currency futures

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.

RBI allows Issue of FCEBs

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.

Global Financial crisis to affect Foreign Investment in India

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.

Religare Enterprises ties up with BKK

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 East.

ICICI raises interest on NRE, FNCR deposits

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.

NRI led Firm invites bids for University Project

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.

NRIs looking towards Home for Career Opportunities

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.

South Indian Bank increases NRE, FCNR Deposit Rates

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 stated.

NRI Association launches Operations

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.

Bank of Maharashtra introduces Maha-Bharati-NRI service

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 in Shivajinagar.

Citi and Andhra Bank tie up to provide Remittance Services

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.

RBI hikes Interest on NRI Deposits

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.

Gulf NRIs investing in Lucknow

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.

IndusInd to launch $1billion realty fund

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 that sentiment.

NRI Company seeks Foreign Banking Assets

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.

NRIs eyeing Chandigarh

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.

PN Route to Boost NRI Investments

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.

NRIS Drive Demand for Luxury Homes in Bangalore

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.

NRIs to now buy Property without RBI Approval

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.

NRI meeting in Singapore to Boost Investment in India

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.

Nri Investment increasing Demand for Residential Property in Cochin

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.

NRI Investment and FDI contributing to Rupee appreciation

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.

NRIs to gain from Property Expo

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.

NRIs investing in Nagpur

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.

Private Banks to tap NRI market

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.

PNB slashes Rates on Non-Resident Schemes

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.

India among Top recipients of Remittance Inflow

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.

GIHED concludes Property Show, hopes to rake in NRI Business

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.

FIIs and NRIs Offload equities worth Rs 242 cr

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.

Interest Rates on Foreign Currency Deposits Slashed

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.

Global convention for Goan NRIs

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.

Reliance Money to tap UK NRI market

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.

Property Seminar to Benefit UK and Nri Investors

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.

NRIs to benefit from GIHED Property Expo

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.

NRIs investing in Mumbai Luxury Real Estate

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.

NRI businessman to set up Steel Plant in Iraq

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.

Rajasthan calls on NRIs to Protect Heritage

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.

NRIs investing in Goa

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 in Goa.

Punjab attracting NRI Investment

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.

Investors meet to be held in Muscat

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.

Largest International Real Estate Referral Program Launched

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.

India to host Investor meetings in the Gulf

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.

NRI University to be set up in Bangalore

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.

NRIs finding India a Hot Investment Destination

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.

NRIs contribute to slowdown in Hyderabad Real Estate

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 estate.

NRIs still investing in Indian Real Estate

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.

NRIS Drive Demand for Luxury Homes in Bangalore

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.

Indian Diaspora event planned in Singapore

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.

Sternon and Garnet to build NRI Township in Mumbai

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.

South India Bank launches product for NRIs

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.

SEBI changes rules to increase NRI role in Investment

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, 2008.

India-UK Cross Border Investment Set to Grow

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.

Ahmadabad is Hot Realty Market for NRIs

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.

Real Estate Fund Launched in Oman

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 market.

Kozhikode Ready to Buck the Realty Downtrend

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.

G+G Creates Brand & Retail Experience for Madura Garments

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.

Realty Majors up Ad Budget

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.

Dubai Realty Market still lacks Transparency

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.

Milestone`s Rs 600 cr PE Fund on anvil

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.

Bahrain's TAIB Bank shells out Rs 216 cr for 26% in Anant Raj

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.

International Real Estate Transactions Dip 46%

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 report.

Baby Donald Trump Launching an Indian Real Estate Fund

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.

Lic Housing to enter Venture Funding

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 financial year.

NRI Status must for Gift Tax Benefit, says ITAT

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.

Private Equity Firms Build Up On Indian Realty Firms

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.

Now, Amdavad Realtors go for Chicago

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 sell Amdavad.

Gurgaon Residents Rise up Against Malls

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.

Anil Nanda co Akme to go for JV with MPC

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 crore.

Record Breaking Realty Deal by Indian

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.

Peninsula Forays into Hospitality

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.

Sun Group to Invest Rs 550 cr in Mohali

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.

Indian Real Estate MFs to Draw in More Foreign Money

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 bank's headquarters.

RIL makes Billion-Dollar Realty Foray with Vornado

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.

Can UAE Real Estate Boom Dodge US Slow Down

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.

INDIA Real Estate Expo comes to DALLAS and SEATTLE

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.

Hampshire Hotels to Develop 2 New Projects in Kochi

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.

The Sub Prime Crisis and What it Means for India

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%.

Cartier to Set up Boutique in Delhi Soon

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.

Five-star Taj Resort in Abu Dhabi

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 location.

Landmark Eyes Treble Indian Retail Business

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'.

India Realty Expo 2008 in Dubai from May 8

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.

Domina Plans three Vedic Sub-Brands

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.

Realtors to Pitch "Aapnu Amdavad" in Us

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 2006.

Emaar may Land $800 m From PE Funds for 3 SPVS

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.

Indian 'Golf Cities' Fuel Real Estate Boom

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.

Uppal to Invest Rs 8,000 Cr in 4 SEZS

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.

Rs 1400 Cr Township Planned in Pune

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.

Hotel Room Rates in India are More than the Global Average

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.

Red Fort to Invest Rs. 3,500 Crore in India's Real Estate Sector

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.

Choice Hotels to open 20 new hotels in two years

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.

Super Luxury Apartment Complex Planned In Kochi

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.

Double Whammy for High-End Luxury Realty Market

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.

Indian real estate targeting Canadian NRIs

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.

Royal Group,GTC in Race to Buy 26% in Raheja Group's Engineering SEZ

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 few weeks.

No Room for Slow Down in the Hospitality Industry

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.

Delhi NCR Rents may Stabilize Next Quarter: Report

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.

Marriott Sgns New Hotel in Bangalore

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 India.

US Housing Crisis Melts Indian Realty Valuations

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.

Wealth Managers Target Expat Indians

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.

Ascendas to Spend $375 Million in India Property

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 space.

DLF Plans Integrated Township at Panchkula

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.

Citi Realty Arm to Buy 10% Stake in Golden Gate for Rs 400 Crore

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.

Slump Forces Real Estate Companies to up Ad Spend

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.

Century 21 to Set Up 1,000 Offices in 5 Years

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.

Casino to Roll Out India Entry with Parsvanath

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 quarter

India Preferred Emerging Market for Retailers CBRE

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.

Indian Realty Developers may come under Service Tax Net

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.

Gurgaon keeps on attracting Global Firms

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.

Citi Arm invests Rs 640 Cr in 4 Sezs being Developed by BPTP

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.

Global Indian Home Seekers turn towards Dubai, Malaysia

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.

Bangkok has More Hotel Rooms than Delhi, Mumbai put together

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.

New Age 'Golf Cities' to Attract NRIs, HNIS

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.

Unitech Launches two Residential Towers in it's Grande Project

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.

REITS to grow Globally at Usd 1,400 Billion: Assocham-Crisil

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.

Special Developments Zones being Developed thru Greater Noida by Tida

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.

Greater Noida is all Set for Growth

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.

Realty Industry attracting International Planners and Architects

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.

DAMAC Properties signs up 60 Real Estate Agents across India

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.

More FDI Expected in Indian Realty

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.

Pacific Star to raise $2 Billion for Asian Real Estate

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.

Yatra Capital invests Rs 175 cr in Bangalore Property

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 property developments.

Zoom Developers tie up with global realty firm

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.

Middle East Realty Giant Emaar Bullish about Indian Real Estate

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.

George Soros buys 2.5-per cent Stake in Indiabulls Real Estate News

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.

India among top three Global Realty Markets after US, China

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.

Global attention turns toward Indian Real Estate Market

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.

Luxury Market for NRIS and HNIS, a New Opportunity for Real Estate Developers

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 India.

Emaar to build Residences Designed by Georgio Armani

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

Spirituality drives India's Realty Industry

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.

Goa Government Bans sale of Land to Foreigners

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.

Indian Real Estate Agents can now go for International Transactions

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.

Budget Did Not Keep the NRIs in Mind but Still Something to be Happy about

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.

Indian Real Estate Boom Lures Foreign Investors

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.

Indian Government sets Rules for Foreign Investment in Industrial Parks

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.

Cag Report Reveals a rs. 2,000-Crore Revenue Leakage in SEZ Units

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.

DLF May attract top Dollar Investments from Global Financial Majors

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.

New Guidelines for FDI Miss out on the Real Estate Sector

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.

LIC Housing to Launch Rs 3.5 bn Fund

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.

Direct Tax Collections up Over 40% till February 2008

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.

India likely to overtake UK as favored investment destination

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 agency.

Hurdles for Property Purchase in India by NRIs

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.

Indian Budget 2008 Stands a Model for the World

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.

Rodere Holdings, Cyprus to Invest Rs 2 Bn in Orbit High City

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.

Reliance Money Targets NRIs in Overseas Foray

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.

30 Million for NRKs Welfare: Kerala Government

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.

Lucknow Real Estate Gets Nri Attention

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 housing estates.

Malaysian co picks up 60% stake in MAK Group project

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.

Punjab NRI Sabha guarantees Complete Support to Govt for NRIs Welfare

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.

More Investment Options for 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.

Think Green: Kolkata CM Tells Real Estate Developers

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.

NRIs Opt for Direct Remittances

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.

NRI Interest in Navi Mumbai Revives

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.

BJETS Plans $900 Million Investment in the Aviation Sector

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.

Healthcare Sector: Emerging Real Estate Opportunity

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.

NRI Businessman Buys Norway Shipping Company

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.

NRI Organisation Demands Fast Track Courts

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.

Reliance may join Hands with Vornado for $1-b Realty Investment

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 India.

Real Estate Boom in Ahmedabad Grabs NRI Attention

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 investment options.

Liberalised FDI Policy Provides Opportunities to NRIs

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 route.

PBEL Invests in Indian Real Estate

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.

Prasar Bharti Divas Spawns NRI Investment 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.

Nris Ride High On Stocks and Real Estate

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

US Based NRI Organization Demands Fast Track Courts

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.

India Cashes in on Foreign Remittances

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.

Embassy Group Plans to Raise $300 Million

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.

Property Plus 2008 to be Organised in Dubai

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.

NRI Plans to Open Rs 550 mn Hospital in India

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.

Commercial Activity Flourishing in Trissur

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.

Indian Real Estate Market- Heading towards a Probable Slowdown

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.

Global fashion brands see Immense opportunities in Indian Retail Sector

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.

Foreign Direct Investment in industrial parks to get waiver

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 investment.

NRIs from Gulf Plan Retail Foray in Kerala

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.

Oman Bank Comes Up with India-Centric Schemes

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.

ICICI Aims at $100m through Infrastructure and Real Estate Fund

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.

Kerala Government Seeks NRI Remittances

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.

NRIs- Major Contributors of the Real Estate Boom in India

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.

Deposit Scheme Suffer as NRIs Focus More on Remittances

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.

India property show opens in Kuwait

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.

Bangalore- The New Favourite Destination for NRI's

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 few years

Haryana Government lures NRIs with Attractive SchemesTuesday, 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.

Establish Trade centre for Punjabi NRIs- Canadian MP

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.

Northeast India Investment Summit to Start Tomorrow

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 public-private partnership.

India Property Exhibition to Be Held In Kuwait

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 convenience.

PM Encourages NRIs to Invest in India

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

Badal Lends his Support to Punjabi NRI's

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 NRI welfare.

NRI Hotelier to Invest Rs 5000 Cr in India

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.

NRI panel Assures US Fund for Bangalore

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 infrastructure

Northeast Seeks NRI Investment

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.

NRI Hotelier to Invest in India

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 here.

India Seeks Nri Contribution in Development Process

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 mother nation.

Indian Realty Show to Be Held In USA

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.

Gujarat Hosts the NRI global Business Meet in January

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.

OIFC to Set Up Marketplace At Prasar Bhartiya Divas 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.

Hyderabad Emerges as the New Investment Hotspot for NRI's

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.

India- A Lucrative Destination for Nri Investment

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).

Pe Investors Plans To Obtain 15% Stake in Nahar Retail

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 crore.

Bihar All Set To Witness Country's First Multimedia Museum

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.

Ad Industry Flourish With Real Estate Entry

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.

Radio Major Big FM Celebrates NRI week in Gujarat

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, investment etc.

Banks Lure NRIs into Real Estate with Attractive Schemes

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 companies.

Unitech makes way for Unitech Office Trust (UOT)

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).

US based Real Estate firm turns to Coimbatore with Rs 100 crore investment

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.

Maars Software eyes real estate in India with Rs 20 bn

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.

Bob Dhillon all Set to Become the First Sikh Billionaire in North America

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 unbelievable.

New UTI fund offer for NRIs- Doha Bank

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.

'NRI service' Counter Opened by Holy Faith Builders

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.

Remittances 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 NRI support
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.

NRI’s 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 estate prices.

Dubai to Host the third Indian Property Show

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)

Bangalore Experiences Lower Segment Property Investment

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 expected.

NRI becomes Governor of Louisiana

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