FDI in Indian Real Estate Could Slow Down
Thursday, August 30, 2007 : With a credit squeeze facing global investors, foreign investment in Indian real estate may not be so forthcoming, according to some investors. Raising capital for real estate projects could now be an uphill task for foreign investors.
American & Israeli
Firms to Invest in Indian Realty
Thursday, August 30, 2007 : Hines, the American real estate giant is committed to a USD300 million fund for investment in Indian projects. Operating through its subsidiary, Hines India Real Estate, the company will sponsor billion dollar projects in India.
NRIs Pilot New Private Airline
Thursday, August 30, 2007 :
Twenty Non-resident Indians have come together to launch a new private airline in September, the North Star Aviation. The new airline will take to the skies connecting most major cities across India, including Jammu, Srinagar and Chandigarh.
DLF on a Land Buying Spree in Andhra Pradesh
Thursday, August 30, 2007 : ‘Building India’ is the spirit the realty giant DLF lives by – its
latest acquisition is a stretch of 25 acres in Hyderabad for Rs.452
crore in an auction sale to develop an IT Park. The company is understood
to have made a part payment of 30% to the state authority.
India Urban Report: Cities Have Miles to Go
Thursday, August 30 , 2007 : The National Institute of Public Finance and Policy (NIPFP) has released the draft of the India Urban Report, bringing to light issues affecting urban Indian settlements.
Chosen “Personality of the Year 2007”
Wednesday, August 29, 2007 : The fDi magazine, and Financial Times
Business have conferred the prestigious fDi Personality of the Year
2007” award on India’s Union Commerce Minister, Kamal Nath for being
instrumental in bringing large foreign investments to India.
Syndicate Bank-UAE Exchange Tie-up to Boost NRI Remittances
Wednesday, August 29, 2007 : Syndicate Bank has signed an agreement
with the UAE Exchange Centre in Dubai to facilitate remittances to India
by NRIs and Indian firms from the Gulf countries.
NRIs Evince Interest in Chennai Properties
Wednesday, August 29, 2007 : Property prices in Chennai are charting
a steep course, making the city one of the fastest growing real estate
markets in India. At the HDFC India Homes Fair at the Hotel Renaissance
in Dubai between August 23 and 25, NRIs from Chennai were the focus
Commercial Rentals in Mumbai on the Rise
Wednesday, August 29, 2007 : Mumbai’s real estate transactions have
touched another landmark figure, with the Limitless Group from Dubai
signing up a rent agreement for a commercial property at the rate of
Rs.450 per sq. ft in the Bandra Kurla Complex.
Contours of Booming Indian Real estate
Wednesday, August 29, 2007: Indian real estate has been making rapid
strides for the past few years with property prices in metros zooming
upwards. A major part of the credit for such an indictment goes to
growing economy leading to a considerable rise in disposable income....
Indian Realty Marches Ahead
Wednesday, August 29, 2007: The Urban Development Ministry has estimated
a shortage of over 20 million homes in India, and has called for
reforms in the Indian real estate market, with better coordination
between the central and state governments.
MP included in DMIC Project
Thursday, August 23, 2007 : The futuristic Delhi-Mumbai Industrial Corridor involving an investment of USD 90 billion has been approved by the Union Cabinet, and will include the Pithampur-Dhar-Mhow stretch in Madhya Pradesh as an investment region.
North-Eastern States Join Indian Hospitality Boom
Thursday, August 23, 2007 : Tripura’s capital city Agartala’s rise
as an economic growth centre has elicited the attention of real estate
developers and hoteliers. Ginger Hotels is one of the several hoteliers
to start an establishment in the city, which was inaugurated earlier
Brigade Group IPO Likely By December, 2007
Thursday, August 23, 2007 : The Brigade Group, Bangalore’s leading real estate developer, is planning an initial public offering to raise capital which would fund its development activities. The IPO is planned for November – December
this year, expecting market conditions to improve by then.
Hike in Noida’s Circle Rates Disappoints Investors
Thursday, August 23, 2007 : Two months after the NOIDA Authority raised the circle rates by 60 to 80%, another hike of 45% has been made, putting the city’s real estate’s market in a tizzy.
Punjab University Gives up NRI Sponsored Seats
Tuesday, August 21, 2007 : For the next academic session, the Punjab University will not grant admission to students seeking admission under the NRI and industry sponsored seats, as per the statement by the advocate of the Vice-Chancellor of the university.
Indian Properties to be Showcased in Delhi, Saudi Arabia
Tuesday, August 21, 2007 : The Properties Ahead ’07, Delhi’s largest realty
expo is back this year with a host of projects at the Pragati Maidan
on the 22nd and 23rd September, 2007. The event is being organized
by Ecube Entertainment Pvt. Ltd.
Future is Bright for Pantaloon Retail
Tuesday, August 21, 2007 : Pantaloon Retail has approved an initial public offer for its unit, Future Capital Holdings which offers asset management services and housing credit in a joint partnership with the Italian insurance company, Generali. The company is going ahead with expansion plans in the consumer credit division. Pantaloon Retail has a 68% share in Future Capital, while Och-Ziff Capital holds 10%.
CNBC Felicitates Indian Real Estate
Tuesday, August 21, 2007 : Real estate, the fastest growing sector
in the Indian economy was presented with awards on 16th August, 2007
by CNBC Awards and ICICI Bank Home Loans at Land’s End, Mumbai. CRISIL, India’s premier credit rating agency honoured the country’s
leading real estate developers who have set high standards in the
Bank’s NRI Mantra: Overseas Branches, New Schemes
Tuesday, August 21, 2007: Andhra Bank has announced its plans to raise up to Rs.4 billion in December this year through a mix of several debt instruments.Expecting a growth of 25% in terms of advances and 23% in terms of deposits, Andhra Bank is on an expansion mode.
FICCI sponsors International Real Estate Summit in Sept. 2007
Friday, August 17, 2007 : The fourth International Real Estate Summit hosted by the Federation of Indian Chambers of Commerce and Industry is coming up next month in Mumbai at the Hotel Hilton Towers.
DLF Sets to Close DCM Shriram mill land
Friday, August 17, 2007 : Indian real estate giant DLF Ltd. reached Rs 1600 crore deal on Thursday to buy DCM Shriram Consolidated (DSCL) mill land. The deal will give DLF the access to about 38 acres of prime land in Najafgarh in West Delhi.
Indian Hospitality Sector Gears Up to Meet Demand
Friday, August 17, 2007 : With an increase of 12% in international tourists to India over the last year in the first seven months of 2007, and a 40% increase in foreign exchange through foreign tourists, the hotel industry is spending more than ever before on building additional rooms across India.
New Investment & Remittance Schemes Launched for NRIs in Gulf
Thursday, August 16, 2007 : As per an agreement between Fidelity International and ICICI Bank, NRIs in the Gulf will have access to Fidelity’s complete range of offshore investment products and services through one of India’s leading banks.
Indian Property Expo for Gulf NRIs Coming Up
Thursday, August 16, 2007 : An Indian realty road show will be on through the month of November 2007 at three locations in the GCC countries.
Indians Abroad Celebrate 60th Anniversary of Independence Day
Thursday, August 16, 2007 : Indians across the globe on Wednesday celebrated the 60th anniversary of Independence Day with gusto. They participated in flag-hoisting ceremonies, cultural programs with patriotic zeal and were seen in triumphant mood.
MOIA to Launch 'Know India Programme' for Diaspora
Thursday, August 16, 2007 : The Ministry of Overseas Indian Affairs (MOIA) has signed a MoU with the Confederation of Indian Industry to organize the latest edition of the Know India Programme (KIP), from 29 August 2007 – 15 September 2007.
RBI permits Overseas Remittance upto USD 100,000
Tuesday, August 14, 2007 : The Reserve Bank of India has taken fresh measures to suck out excess foreign capital, by allowing resident Indians to open accounts abroad and transfer up to USD 100,000 without seeking its approval under the Liberalised Remittance Scheme (LRS).
Panel Recommends Measures to Protect NRI Marriages
Tuesday, August 14, 2007 : All Indian marriages, irrespective of religion, are required to be registered as proof of marriage. The parliamentary panel recommendations come in the wake of rising cases of desertions by NRI husbands.
YES Bank, Federal Bank introduce new schemes for NRIs
Kerala Govt's Rescue Mission for NRIs in UAE
Tuesday, August 14, 2007 : YES Bank has announced its new International Banking Scheme, offering a bouquet of technology driven products and services. These include debt, trade finance, corporate finance, investment banking and business advisory services, treasury and global Indian banking.
Thursday, August 09, 2007: In view of the approaching deadline set by the UAE Government for all illegal foreign workers to acquire a legal status or return to their country, the Kerala Government is putting together plans to help the stranded NRIs return to India.
Infrastructure fund launched by DBS Chola MF
Thursday, August 09, 2007: A diversified portfolio would be created by adopting the top-down and bottom-up investment approach. The selection of companies would be based on their potential to deliver high returns over the long term.
Thursday, August 09, 2007: Dr. Y Venugopal Reddy, Governor, Reserve Bank of India submitted the First Quarter Review of the Annual Monetary Policy for the Year 2007-08. The highlights of the report are:
More Banks cut Deposit Rates, Fresh Curbs on ECBs
Wednesday, August 08, 2007: Following the hike in the Cash Reserve Ratio by the RBI last week, ICICI Bank and Dena Bank have joined other banks in trimming deposit rates by 25-30 basis points.
Tuesday, August 07, 2007: A fresh round of approvals by the Foreign Investment Promotion Board had the Finance Minister P. Chidambaram approving 17 proposals of foreign direct investment.
Monday, August 06, 2007 :
The State Bank of India has cut rates on some fixed deposits with effect from 6th August, 2007. Fixed deposits for a term of 1-2 years have been reduced by 0.25% to 8%, while the rates on deposits of 3-10 years have been raised to 8.5%.
Monday, August 06, 2007 :
After the Securities Exchange Board of India revised its policy on capital outflow, allowing fund houses to invest upto USD 2 billion in overseas funds and securities, DSP Merrill Lynch has been the first to launch a feeder fund.
Sliding Stocks force Purvankara to revise Price Band
Monday, August 06, 2007 : The bear’s hug caught Puravankara off-guard last week, forcing the company to revise its price band for its IPO from Rs.500 –Rs.525 to Rs.400-Rs.450 per share.
Kochi hosts Kerala Property Expo
Saturday,August 04, 2007 : Kochi will host the 3-day Kerala Property Expo from August 3, 2007 where participants would include local and pan-India real estate developers. The event will be inaugurated by S.K.Mitter, Director and Chief Executive of LIC Housing and Finance.
Indian Real estate companies post profits in Q1
Thursday, August 02, 2007 : The real estate sector has recorded commendable profit margins, evident from the profits posted by major real estate developing giants in the first quarter. The first quarter was beneficial for almost all real estate developers. Parsvnath Developers posted a record net profit of 179.56 per cent at Rs 102 crore against its previous Rs 36.55 crore.
Thursday, August 02, 2007 : HSBC Dynamic Fund, a new fund scheme launched by HSBC Mutual Fund aims at providing flexibility of moving investment portfolios to fixed income securities. Targeting investors with a higher risk appetite, the scheme promises a diversified portfolio, and will be available between August 3 and August 30
Thursday, August 02, 2007 : The RBI announced a hike in its cash reserve ratio (CRR) by 50 basis points in its 1st quarterly review of the monetary policy. Effective from August 4, the CRR now stands at 7 per cent. Keeping in tune with the first quarter credit policy
Thursday, August 02, 2007 : Life Insurance Company of India and New India Assurance, have entered into a joint venture with Al Hokair Group of Saudi Arabia, to start operations in Saudi Arabia. The joint venture, Saudi India Company for Cooperative Insurance (SICCI), shall sell both life and general insurance policies in Saudi Arabia.