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In-principle nod to construction of 89,000 rental houses: Maha
Saturday, July 14, 2012
Budget, luxury housing segments worst-hit in slowdown: Report
Sunday, June 24, 2012
Puravankara Projects sets up office in Saudi Arabia
Sunday, June 18, 2012
Stay Away from Dual Rate Home Loans
Sunday, June 10, 2012
Gurgaon on Edge- Residents Losing Calm Over Crumbling Facilities
Monday, June 04, 2012
Decision on FDI in Multi Brand Retail Next Week
Wednesday, Nov 23, 2011
Real Estate FDI Worries may continue this Year
Thursday, Oct 13, 2011
Govt May Consider 100% FDI in single Brand Retail
Tuesday, Oct 04, 2011
FDI in Multi Brand Retail will Increase Investment Opportunities in Organised Retail Sector
Monday, Sep 26, 2011
FDI in Real Estate Sector Lowest in 4 Years
Tuesday, Sep 20, 2011
JLL to Foray into Sri Lanka Real Estate Market
Friday, Sep 16, 2011
US Billionaire Sam Zell’s Equity International Plans Entry into Indian Real Estate
Thursday, Sep 01, 2011
Demand - Supply Gap Hampering Launch of New Real Estate Projects
Tuesday, August 30, 2011
Real Estate Companies Adding Rs 14 crore debt a Day
Friday, August 26, 2011
Reason why Indian Real Estate Lures US NRIs
Monday, August 22, 2011
Indian Real Estate Forum (IREF)
Thursday, August 18, 2011
Realty Stocks Meander to 2008 Lows
Wednesday, August 17, 2011
FDI in Multi-Brand Retail to Open Millions of Employment Opportunities: Experts
Tuesday, August 09, 2011
Property in NCR may Get Dearer
Tuesday, August 02, 2011
Singapore Plans to act as Facilitator to bring China’s savings into Indian Real Estate
Thursday, July 28, 2011
51% FDI in Multi-Brand Retail Gets CoS Approval
Saturday, July 23, 2011
SC Dismisses Hilton International’s trademark Plea
Saturday, July 16, 2011
Mumbai Ranked As the Most Favoured Development Market in Asia Pacific Region
Monday, July 11, 2011
Tata Housing Plans to Foray into International Markets
Wednesday, July 06, 2011
Real Estate Developers Setting Prefabrication Plants to Cut Project Costs
Tuesday, July 05, 2011
Singapore Based Capitamalls Asia to Invest Rs 1800 Crore in India
Monday, June 27, 2011
Tallest Residential Tower of the World to be completed by December 2011
Wednesday, June 22, 2011
Govt Likely to Permit FDI in multi-brand retail in Six Metros
Tuesday, June 21, 2011
Slowdown Hit Developers Looking to Lure NRIs to Invest in Projects
Wednesday, June 15, 2011
Ahmedabad Retail Sector May Witness Growth in 2011
Wednesday, June 01, 2011
Fall in Office and Commercial Space Demand in Mumbai
Thursday, May 26, 2011
Scorching Summers Affect Real Estate Sales
Monday, May 23, 2011
Decision on FDI in Multi-Brand Retail Soon: Confirms Scindia
Thursday, May 19, 2011
Lucrative Property Rates Make Dubai Hotspot for Indian Buyers
Tuesday, May 17: If you're fretting over the increasing property rates in your city, how about buying a house in a place where the average prices are 60% cheaper than those in Mumbai? And no, we're not talking about a tin shack in the boondocks
FDI Falls by 28%: Hits 4 Years Low & Trails Portfolio Inflows
Friday, May 13: Foreign direct investments (FDI) last fiscal fell 28% to a four-year low, data showed on Thursday, raising concerns over stability of capital flows. This is also the first time in five years that FDI is lower than portfolio flows
Hike in Interest Rates May Result in Housing Deficit&Rise in Property Prices
Thursday, May 05: Real estate developers and home buyers will feel the pinch of higher interest rates, which could slow down home sales. Higher interest will push up monthly installments for home loans for existing as well as new home buyers
Govt May Allow FDI in Multi-Brand Retail in 36 Cities
Monday, May 02: Industry Ministry's proposal to open multi-brand retail for foreign investment is likely to go to the Cabinet soon after assembly election results of four states and a Union Territory, taking on board job-related concerns of the Labour Ministry
Dip in FDI Temporary; FDI will pick up in Coming Months: Anand Sharma
Friday, April 29: The recent decline in the flow of foreign direct investment to India is temporary and it would pick up in the coming months given the strong macro economic outlook, Commerce and Industry Minister Anand Sharma said Tuesday.
Indian Firms Established 24% More FDI Projects Overseas in 2010
Monday, April 25: Indian, South Korean, Japanese and Chinese companies were among the fastest growing investors overseas in 2010, according to the fDi Intelligence report. The overall ranking of the world’s leading locations for FDI remained unchanged in 2010 in terms of number of greenfield FDI projects attracted
India Eager to Attract FDI: PM
Monday, April 18: India is eager to absorb foreign direct investment, Prime Minister Manmohan Singh said on Thursday in a statement at the BRICS summit. Singh also said the Indian economy is well positioned to achieve annual long-term growth of 9%
US Seeks Relaxation in Retail FDI Norms
Friday, April 15: Currently, India allows a 51 per cent FDI in single-brand retail and 100 per cent in cash-and-carry stores such as Metro, which can only sell to other retailers and dealers. Interestingly, India doesn’t yet allow FDI in multi-brand retailing. Industry associations such as FICCI have been requesting the government to raise the FDI limit to 100 per cent
Govt to Release Revised Consolidated FDI Policy Today
Thursday, March 31: The government will release the revised consolidated FDI policy paper, a ready reckoner on foreign investment related regulations, in New Delhi on Thursday. The third edition of the Consolidated FDI Policy
Finance Ministry Opposes RBI’s Proposal to Restrict FDI in New Banks to 49%
Friday, March 25: The finance ministry has opposed the Reserve Bank of India’s suggestion to restrict foreign direct investment in new banks to 49%, saying the change in norms will hurt investor sentiment
Gap Between FDI and FII Inflow a Concern for India
Wednesday, March 23: With slowdown in FDI by 25 per cent, India’s dependence on FII inflows, considered as hot money for maintaining its current account, has increased this fiscal. Moreover, the gap between the foreign direct investment (FDI)....
Rules that Simplify Property Buying for NRIs in India
Saturday, March 19: It makes sense for non-resident Indians (NRIs) and persons of Indian origin (PIOs) to invest in property in India. A NRI is a person who is not resident in India. According to the Foreign Exchange Management Act (FEMA)
Govt Planning Steps to Boost FDI
Wednesday, March 16: In order to liberalise the FDI regime, the government is likely to dispense with a norm that requires foreign investors to seek local partner approval for setting up units in the same business
Finance Minister Silent on FDI in Multi Brand Retail
Tuesday, March 01: The budget speech of the finance minister intends to lay the foundation for policy changes that are to follow over the next 12-18 months. However, the speech was lacking in big-ticket reforms that the finance ministry has been promising for a while
Real Estate Sector Expects Liberalised FDI Norms from Union Budget 2011
Tuesday, February 22: The real estate sector is expecting a liberalised foreign direct investment (FDI) norm and easing of rules for external commercial borrowings, in the present tight project finance situation and rising cost of loans, from the Union Budget 2011-12. On the other hand, another round of interest
DLF to Launch Luxury Residential Project “DLF Kings Court” Tomorrow
Monday, February 20: The country's largest realty firm, DLF, plans to launch one of the costliest residential projects here this week offering 38 luxury housing units at a price range of Rs 15-25 crore. The company will launch on Tuesday a super luxury residential project 'King's Court', which is spread over 2.3 acres of land at Greater Kailash-II in South Delhi
India Property Show to Target Capital Based NRIs
Thursday, February 10: Abu Dhabi is set to host a new India property show that will bring over 100 projects from across India for the Capital-based Non-Resident Indians (NRIs), according to its organiser
RBI clarifies on NRI Housing Loan Subsidy
Wednesday, February 09: Housing loans of up to Rs 10 lakh, extended to non-resident Indians, for construction of farm houses, and to staff members of banks are not eligible for the one per cent subsidy, the Reserve Bank of India said in a notification issued on Tuesday.
FDI in India Heading Towards Slump
Monday, February 07: India's foreign direct investment is headed for the first drop since the year ending March 2003, hindering a bid to match China’s surging economy, even as overseas money poured into Indian stock and bonds at a record pace
Alpha G:Corp to build Rs 400-cr Gurgaon township
Wednesday, February 02: Realty firm Alpha G:Corp today said it would develop a group housing project in Gurgaon at an investment of Rs 400 crore. The company would build 670 housing units on a 12.5 acre land, which is owned by Magnum International
Premium Residential Project ‘Gurgaon One Sector 84’ about to be Launched in Gurgaon
Monday, January 31: One of the fastest growing professional real estate companies of India, Alpha G: Corp is coming up with new Residential Project in Sector 84 Gurgaon at an unbelievable price. After Gurgaon One, Sector 22, Alpha G:Corp now takes the second step. For those who missed out on sector 22, this is another chance.
Cautious NRI’s Investigating Before Investing into Indian Real Estate
Thursday, January 27: Non-resident Indians (NRIs) and people of Indian origin (PIO) investing in premium real estate projects have become cautious and are doing a thorough check before investing, say senior executives in real estate firms. ‘‘The mood is to verify and ensure it is a good property, land and approvals are in place, the location is good, and the project conforms to the master plan,’’...
Real Estate Sector Received $2.8 Billion FDI this Fiscal Year
Monday, January 24: The housing and real estate sector in India witnessed foreign direct investment (FDI) of $2.8 billion in the fiscal year (April-March) 2009-10, according to indian Department of Industrial Policy and Promotion. According to stats reavealed at IndiaHome property exhibition
NRI’s Seek Better Policies for More FDI Inflow in Punjab
Wednesday, January 19:Punjab needs to follow Gujarat's lead and improve its "poor" policies if it wants to attract more investment from overseas Indians, NRIs at an investment meet here today said. "I do not see any major schemes or major development from Punjab.
17 Acres of Prime Gurgaon Land to be auctioned by Aricent Technologies
Saturday, January 15: After Gurgaon One, western part of the city might see rise of another multi-storey building in the same vicinity. Jawala Mills, decades-old defunct textile mill on Old Delhi Road is slated to be sold by mid-February. The 17 acres of land was first purchased by IT major Aricent Technologies in early 2000s
ASSOCHAM Recommends FDI in Retail to Check Inflation
Monday, January 10: Worried over rising food inflation, Assocham today suggested that the government should consider early opening of retail sector for foreign investors to bridge demand-supply gap.
Property Prices Back to Pre-Crisis Level
Tuesday, january 04: A fast-growing economy fired up the real estate market after almost a year-and-a-half of property gloom, with prices touching the pre-crisis peak and companies announcing structures that will pierce the sky.
FDI in Multi-Brand Retail Sector Still in Question
Monday, December 27: The debate over whether to relax FDI norms in the Indian retail sector gained momentum in 2010, a year which also saw many retailers resume their expansion activities after the global downturn of 2008-09. The key question in front of India’s $435 billion retail sector
World Bank Projects 17% Growth in FDI Inflows into Developing Countries
Monday, December 20: The foreign direct investment flows (FDI) into developing countries including India, is expected to recover over the next couple of years and is projected to increase by 17 per cent in 2010
NRIs Taking Keen Interest in Indian Realty Expo 2010
Monday, December 13: The Maharashtra Chamber of Housing Industry’s (MCHI) 14th India Realty Expo 2010 saw non-resident Indians (NRIs) making a beeline for residential properties from 25 exhibitors yesterday. Friday, despite being a holiday, had the show see a large number of walk-ins, with NRI couples eagerly looking up and evaluating options.
RE/MAX Comes up with Real Estate Education Convention in India
Wednesday, December 08: Further to its series of events aimed at professionalizing the real estate brokerage landscape – RE/MAX Realty Rendezvous, RE/MAX India has launched another first in the India Real Estate Brokerage history
14th India Realty Expo 2010 to be Organised in Dubai
Wednesday, December 01: Over the years, Non Resident Indians (NRIs) have considered Indian real estate market a thriving investment destination with good returns on investment. Considering this scenario, Maharashtra Chamber of Housing Industry (MCHI)
CCI Probing Real Estate Companies
Tuesday, November 30: The Competition Commission of India (CCI) on Monday disclosed that it was examining 11 complaints of anti-competitive practices received against real estate companies, some of which were being probed by the CBI in connection with the housing finance scam
Investment Option for Non-Resident Indians
Wednesday, November 24: For a non-resident Indian (NRI) who has been away from home, there are many investment options across various categories. However, while other investment options can be timed, investments in real estate have to be planned
MSME Ministry Proposes up to 18% FDI in Multi-Brand Retail
Wednesday, November 17: The MSME ministry has proposed allowing only up to 18 per cent FDI in multi-brand retail, while cautioning that entry of global retailers could harm interests of kirana stores, small farmers and consumers.
Mumbai 4th Most Expensive Office Space Rental Market in World
Friday, November 12: Mumbai, India's business capital, has been ranked as the fourth most expensive market in terms of office space rentals in the world by global real estate consultant CB Richard Ellis. New Delhi is placed at the 11th spot in the list, which is topped by London
Obama Asks India to Lift Restrictions on FDI in Multi-Brand Retail
Tuesday, November 09: President Barak Obama has asked India to lift its restrictions on the FDI on multi-brand retail. He explained that old concerns that small shopkeepers would be impacted ignore today’s reality.
International Hotel Company Carlson plans to add 20 Hotel Properties in India
Monday, October 25: India's largest international hotel company Carlson plans to add 20 new hotel properties by 2011, according to a top company official. "We are opening five hotels in 2010 and plan to add at least 15 hotels in 2011 in India," said Hubert Joly, president.
Commercial Real Estate Heading Towards Renewed Growth
Tuesday, October 19: As negative factors impacting the commercial realty segment fade away, it could well be an indication that the sector is set for renewed growth. If we consider that fewer negative factors implies a positive scenario.
Govt May Soon Apply New Policy for FDI in Multi Brand Retail
Wednesday, October 13: The Government today indicated that a new policy on foreign direct investment in the politically sensitive multi-brand retail sector will come soon. At present, India does not allow FDI in the lucrative retail sector
Better FDI Flow Expected This Financial Year-Commerce Minister
Thursday, October 07: Foreign direct investment flows into the country in the ongoing financial year could be better than last year, commerce minister Anand Sharma said on Monday. Due to the ongoing economic meltdown in Europe and the US
Retail Majors Bothered Over Govt Delay in Allowing FDI in Multi-Brand Retail
Monday, October 04: Allowing foreign direct investment (FDI) in multi-brand retail is seen as one of the key reform measures that India has to offer. Though the government started the discussion process to allow foreign stake in the sector in mid 2010
Israel Based Real Estate Major Plans to Invest $300 Million in Indian Real Estate Sector
Thursday, September 30: Diversified Israeli conglomerate Elbit Imaging Group could be making a fresh investment of $300 million to acquire raw land assets and invest in new projects in India in the next two to three years.
Khan Market- India’s 1st And World's 21st Most Expensive Retail Destination
Monday, September 27: Khan Market — the country’s most-expensive retail destination — has moved up three notches to 21 in the list of the world’s most expensive shopping streets in an annual global survey by real estate consultants Cushman & Wakefield
Retailers Focusing on Small Cities and Towns
Monday, September 20: Indian retail juggernaut, which began rolling towards smaller cities and towns a few years ago, has gathered momentum as retailers are now going whole hog to make a killing. Changing demographics, higher disposable income and improved agri-produce realisation have made smaller cities and rural areas the future hotbeds of growth.
3 Year Lock-In Period to Stay in FDI
Friday, September 17: The government today said foreign investors in the country’s real estate sector will have to remain invested for a minimum of three years and rejected industry claims about the policy restricting FDI inflows. “I do not see the three-year lock-in period as too restrictive. Investors must come with confidence that they are here to stay.
NRI Real Estate Investment
Thursday, September 16: Real estate investment has always been a favorite asset class for Indians, and that love does not wane even when he becomes a non-resident Indian (NRI). The reasons are not too far to seek
India Beats US to Become the 2nd Most Preferred FDI Destination
Monday, September 13: India has replaced the US as the second most important foreign directive investment (FDI) destination for transnational corporations during 2010-2012, according to a survey conducted UNCTAD. In its latest 'World Investment Prospects Survey 2010-2012', the United Nations Conference on Trade and Development said transnational corporations remain buoyant about investment prospects in China, India and Brazil.
18 % Decline in FDI Inflow in First Half of 2010
Friday, September 03: The uncertainty in the global economy seems to have impacted the flow of foreign funds into India. Coming close on the heels of the decline in exports is the news that foreign direct investment (FDI) declined by 18.3 per cent to $10.77 billion in the first half of 2010.
Consumer Affairs Ministry Gives Green Signal to 49% FDI in Multi-Brand Retail
Monday, August 30: The Consumer Affairs Ministry has given the green signal to allow 49 per cent FDI in multi-brand retail. It has written a letter to this effect to the Commerce Ministry. India currently allows 100 per cent FDI in cash-and-carry operation
Global Commercial Real Estate to Touch $300-bn Mark
Friday, August 27: Reflecting improved investor confidence, investment in commercial real estate globally is expected to witness a “healthy” growth of 40-50 per cent to $300 billion in the current year, says a report
Govt to Allow Foreigners Set up LLP in Sectors Where 100% FDI is Allowed
Wednesday, August 25: The government may soon allow foreigners to set up limited liability partnerships in sectors where 100% foreign investment is allowed, taking a decisive step after much flip-flop over funding guidelines for this form of business
FDI in India’s Booming Real Estate Jumps 80 Folds
Monday, August 23: Foreign direct investment (FDI) in India’s booming real estate and housing market jumped 80 times between 2005 and 2010. Figures obtained by TOI show that in 2005, FDI in real estate was a mere Rs 171 crore
Mumbai Sees Biggest Real Estate Deal
Tuesday, August 10: India’s biggest real estate deal took place on Friday evening, with the National Textile Corporation (NTC) limited selling eight acres of Bharat Mills at Worli, for a whopping ` 1505 crore, meaning a single acre went for 188 crore.
European Union Asks India to Further Liberalise FDI Norms
Monday, August 02: The European Union July 23 asked India to further open its economy for foreign investments even as the country has taken tentative steps towards liberalizing FDI in sensitive defense and multi-brand retail sectors.
NRI Remittances Bring Boom to Indian Villages
Thursday, July 29: Take the example of Kerala. Real estate development, the most visible sign of recent prosperity that provided jobs to 25 lakh people in the state is also roaring in Kochi after being hit by the Gulf crisis earlier this year. Hoardings at city junctions announce the arrival of new luxury apartments, the kinds which are usually found in posh localities of metro cities. Big builders already have more plans.
British MP Opposes Indian Govt’s Plans to Allow FDI in Retail
Monday, July 19: British MP David Amess said that the Indian Government to tread" very carefully" if it opened up the multi-brand retail sector to FDI because the entry of companies like UK-based retailer Tesco would" literally change the fabric of life in India" by endangering small shops
M3M India Ltd Bags Best Project Award at NRI Dubai Summit
Tuesday, July 14: M3M India Ltd. won an award at the prestigious NRI summit 2010 held in Dubai. The company’s upcoming project Golf Estate has been selected as the most promising project across the real estate sector in India.
Retail Shares Soar as Govt Plans To Consider FDI in Organised Retail
Saturday, July 10: Shares of multi-retail firms soared on Wednesday after the Government’s plans to consider FDI investments in the organised retail space. Some multi-retail stocks even touched their highs on a day when the benchmark indices fell.
Hyderabad NRIs Shying Away From Investment in Real Estate
Monday, July 05: The ‘Non-Resident Hyderabadi’ junta is giving city realtors a hard time. With most of these globe-trotters deciding against investing in real estate this year, city builders are already bracing themselves up for a 40-50 per cent drop in their 2010 earnings
Fear of Recession in Europe Draws NRI Investment in India
Wednesday, June 23: Indian expatriates have started investing in their home country in a big way. Increasing job security in Gulf countries, coupled with fears of recession in Europe and North America, are prompting NRIs
Ease Caps on- FDI US to India
Wednesday, June 09: The US has urged India to open up the economy and ease caps on foreign direct investment. Secretary of state Hillary Clinton put forward the request in her opening statement at the India-US strategic dialogue.
Record Real Estate Deal in Mumbai
Monday, May 31: It’s called the biggest land deal in Mumbai. A plot of 25,000 sq metres, with a built-up area of 4,95,000 sq metres was bagged by Lodha Crown for a whopping Rs 4,053 crore, coming to Rs 81,818 per sq m.
India Moves up on World’s Most Preferred Retail Market List
Tuesday, May 25: India has moved five places up on the list of most preferred markets for retailers due to heightened interest from international companies in emerging markets, according to a study which tracks the presence of top retailers worldwide. India moved to the 39th position in 2009
NRIs Cash in on Investment Avenues Available in India
Saturday, May 15: The Indian economy has emerged as one of the most robust economies of the world, as was evident during the recent global meltdown. Despite the difficult times, investments in our home land continue to be lucrative to Non Residents Indians (NRI). Funds invested in India not only yield higher returns...
World’s Second Largest Retailer Carrefour Enters India
Wednesday, May 12: Carrefour, the world’s second-largest retailer, will open its first cash & carry wholesale outlet in India in Seelampur, New Delhi, over the next 2-3 months. The French retailer has been trying to find its feet in the country for many years
Indian Real Estate Expo to Be Organised In USA to Attract NRI Buyers
Friday, May 07: The Times of India is organizing the first ever realty expo in USA titled 'Your Gateway to India 2010' to enable NRI Indians to invest in India's booming $1.2 trillion economy. The Realty Expo will be held in Santa Clara on May 1-2, 2010 and on May 8-9 in Edison.
Finance Ministry Provides Slight Tax Relief to Realtors
Friday, April 30: Home buyers could pay less for property following a partial rollback of a budget levy on realtors by finance minister Pranab Mukherjee today. Mukherjee said realtors would pay a 10 per cent service tax on 25 per cent of the value of the built property, including the cost of land, against the budget announcement of the 10 per cent tax on 33 per cent
Government in Discussions to Consider FDI in Multi-Brand Retail- Sharma
Wednesday, April 28: The Indian government is consulting various stake-holders on allowing foreign direct investment (FDI) in multi-brand retail and the scope of such investments in other sectors, Commerce and Industry Minister Anand Sharma said Tuesday.
Govt Plans to Tighten Investment Norms for NRIs
Monday, April 19: The government plans to tighten investment norms for non-resident Indians (NRI) in companies to ensure that they do not violate foreign direct investment (FDI) sectoral caps or enter areas where such investment is banned.
Govt Can Consider FDI in Retail
Tuesday, April 13: The government of India is planning to allow multi-brand retail to the foreign direct investment (FDI) showing its resolve to open up the sector to international chains. The department of industrial policy
Changes in FDI Norms Can Dampen Foreign Investments- Experts
Saturday, April 10: Foreign venture capital funds will find it more difficult to invest in venture funds here with the government changing the foreign direct investment (FDI) rules. Experts fear this could dampen foreign investments into India.
Govt Rules Out Change in FDI Norms for Banks
Wednesday, April 07: Union Commerce and Industry Minister Anand Sharma on Monday ruled out making any changes in the foreign direct investment (FDI) norms for private banks, asserting that the present rules were doing well. Talking to media persons on the sidelines of a conference organised by the Associated Chambers of Commerce and Industry of India
India Sees 64% Rise in NRI Inflows
Thursday, April 01: Overseas Indians are setting great store by the safety and returns offered by Indian banks on NRI deposits. Proof: In the first nine months of FY2010, they parked $1.34 billion more in these deposits over the corresponding period last year. In the first nine months of FY2010, inflows into non-resident Indian (NRI) deposits
Budget 2010 Comes Up With Good Investment Opportunities for NRIs
Wednesday, March 24: India's budget yet again demonstrates to NRIs that investing in their homeland is probably the best option right now. The West is still struggling to climb out of one of its deepest recessions and provides low returns
Mumbai Builders Focusing on Luxury Flats Targeting NRI Customers
Friday, March 19: Mumbai developers seem to have given up on housing for the middle-class. If you thought the realty revival in the city would come through middle-level affordable housing, you cannot be more off the mark. Most new launches are looking at the Rs1-crore residential houses project.
Online Trading Facilities Ease NRI Investments
Friday, February 26: For non-resident Indians, in particular, the online facility to trade in the Indian markets is a boon. With the markets currently on the lower side and more volatile than a few weeks back, there is the opportunity for the discreet NRI investor to pick on choice stocks to add to his portfolio.
Global Financial Crisis Keep Foreign Investors Away From Realty, Construction Sectors
Thursday, February 25: Foreign investors have remained bullish on India’s housing, real estate and construction sectors in the last two years, undaunted by scarce global financial resources. Foreign Direct Investment (FDI).
Govt Doubles Ceiling on Automatic Foreign Investment
Monday, February 15: A month and a half before the unveiling of India’s consolidated foreign investment policy, the government on Thursday doubled the ceiling on automatic foreign investment from Rs 600 crore to Rs 1,200 crore. Union commerce minister Anand Sharma, who announced the decision, said the move is expected to make India a more attractive destination for long-term investment.
Badal Encourages NRIs to Invest In Punjab
Tuesday, February 09: He stressed that NRIs should focus more on improving the infrastructure of the villages and bring about other changes to modernize the villages while assuring that the state will put in its share in such projects. He added, "NRIs should also focus on opening skilled centres in various parts of the state to address the problem of unemployment.
Foreign Investment in India
Thursday, February 04: The news that in 2009 India produced more Dubai real estate buyers than any other country may not be a big surprise – but it does trigger the question: when will India reciprocate, and allow the rest of the world
NRI Home Loans Getting Popular
Thursday, January 28: Most Non-Resident Indians think a lot before investing in property in India and most of the time put off the plan due to the effort, the research and the planning involved. In some instances, it is put off as they do not have enough funds. For such individuals there is always the NRI home loan.
NRI Shock for Banks and Real Estate Firms
Saturday, January 23: Apart from biting cold weather of the capital, lack of enthusiasm among overseas Indians to buy properties in India has further dampened spirits of some of the realty firms, as well as around half a dozen banks.
US Based NRI Hoteliers Eyeing Hospitality Industry
Monday, January 18: The non-resident Indian (NRI) hoteliers from the US are eyeing a share of Indian hospitality industry. An 18-member delegation of Asian American Hotel Owners Association (AAHOA) visited Gujarat
Real Estate Firms Concerned Over Diminishing NRI Interest in Indian Property
Saturday, January 16: Apart from biting cold weather of the capital, lack of enthusiasm among overseas Indians to buy properties in India has further dampened spirits of some of the realty firms, as well as around half a dozen banks
Prime Minister Urges NRIs to Take a Look at Long Term Investment Opportunities
Thursday, January 14: The Prime Minister, Dr Manmohan Singh, on Friday urged overseas Indians to take a careful look at the long-term investment opportunities now on the horizon pointing out that the Government
Investment Problems for Overseas Indians on Home Turf
Monday, January 11: Overseas Indians who have now become an important segment of investors in Indian real estate, putting in over a million dollars every year, often find themselves being duped by promoters or even getting into acrimonious legal battles with their relatives they once trusted.
PBD Starts Today NRIs to Probe Expat Issues
Thursday, January 07: The largest conference of overseas Indians will begin in New Delhi today. The eighth Pravasi Bharatiya Divas (PBD), which connects 25 million Indian diaspora in 110 countries, will specifically discuss issues relating to Indian expatriates in the Gulf. The annual meeting will also come up with a concrete proposal to end the harassment of NRIs (non-resident Indians) in property-related issues in India.
PBD 2010 to Address NRI Property Grievances
Monday, January 04: Once again the annual jamboree of diaspora, the Pravasi Bharatiya Divas, is here and once again overseas Indians would expect to be heard by the powers that be. In its eight year now, the PBD has seen its attendance fall to around a fifth of what earlier editions saw.
8MOIA Flooded with NRIs Property Complaints
Wednesday, December 30: Complaints of real estate deals going sour, illegal encroachment and unauthorised occupation of properties have flooded the ministry of overseas Indian affairs (MOIA).
8th Pravasi Bharatiya Divas to Focus on Foreign Investment
Monday, December 28: At the beginning of the year 2010, the Indian government has planed to woo its diaspora spread across to globe into the mainstream of its emerging economy. A three-day redesigned gala event – 8th Pravasi Bharatiya Divas....
FDI India 2009 Hit by Global Financial Crisis
Thursday, December 24: The global financial crisis that spilled over into its second year choked flow of foreign direct investments into India in 2009, forcing the government to loosen rules for investments but it kept multi—brand retail off—limits to foreigners
Dubai Debt Crisis may Invoke Short Term Rise in NRI Remittances from Dubai
Monday, December 21: The $60 billion-odd Dubai debt crisis could spark an increase in remittances from Dubai, in the short term, as uncertainty and nervousness spook the NRIs confidence in local banks in Dubai.
Despite Crisis CREDAI to Hold Its National Convention in Dubai
Tuesday, December 15: Credai has stuck to its original plan to hold its national convention during January 23-25 in Dubai. Around 850 delegates comprising India’s who’s who in the realty and retail sector would deliberate on the main theme.
NRIs Return Boosts Residential Demand
Friday, December 11: An estimated 25 million NRIs living in 130 countries have remitted US$52 billion so far this year. In fact India topped the list of countries in remittance flow followed by China and Mexico, according to World Bank report on Migration and Development Brief.
Govt Calls Meeting to Resolve NRI Property Disputes
Tuesday, December 08: The ministry of overseas Indian affairs is bringing together real estate developers, government officials, both from the Centre and the states, and Indians living abroad in a first-of-its-kind seminar aimed at resolving property disputes in Delhi on Monday.
Enforcement Directorate Raids Emaar MGF Premises Over FDI Violation
Friday, December 04: The Enforcement Directorate on Thursday raided at least a dozen-odd premises belonging to the developer of the Commonwealth Games Village to collect evidence in an alleged foreign direct investment (FDI) violation
FDI May no Longer Be Subject to the Statutory Three Year Lock-In Period
Thursday, December 03: Foreign investment in the real estate sector may potentially no longer be subject to the statutory three year lock-in period. It is believed that the department of industrial policy & promotion, ministry of commerce & industry
NRI Billionaire Bob Dhillon all set to Foray into Indian Real Estate
Wednesday, December 02: Canada-based NRI billionaire Bob Dhillon is all set to make a foray into India. Dhillon's Canadian real estate company, Mainstreet Equity, which owns more than 6,000 rental properties across Canada, is likely to set up a billion dollar India-specific real estate fund..
Real Estate Collapse in Dubai Will Affect Indian HNIs
Tuesday, December 01:The leveraged asset purchases of Dubai-based wealthy non-resident Indians in the past few years may begin to haunt them, as the collapse of real estate prices in the emirate prompts calls for additional funds as margins which may force them to sell some Indian assets, experts say.
NRIs and HNIs Eying Foreign Shores for Real Estate Investment
Monday, November 09: With real estate prices in the niche segment in India showing signs of robust recovery, high net worth Indians and NRIs are again eyeing foreign shores for real estate investments.
NAR Developing Live Property Valuation Index
Thursday, November 05: National Association of Realtors (NAR), an apex organisation of real estate brokers in the country, is working towards developing a live property valuation index, which will become the benchmark for real estate deals in the country.
Increase in NRI Real Estate Investment since Govt Liberalised Investment Norms
Monday, November 02: An estimated 25 million overseas NRIs living in 130 countries are nowadays remitting billions of dollars back home. Net inflows from NRIs have witnessed over twenty-fold rise to $4 billion in the fiscal 2009.
UK’s Premier Inn to Open Its First Hotel in Bangalore
Friday, October 23: Premier Inn, the UK’s largest hotel chain, is popular among international travellers as a budget hotel. But in India, where it will open its first hotel in Bangalore early next month, Premier Inn
British Retailer Mothercare Plans To Expand Operations In India
Tuesday, October 20: British mother and baby products retailer Mothercare is accelerating its expansion in India with plans for 200 stores, double its original target. The firm, which currently has 23 franchise stores in India
Indiahome Property Exhibition in Dubai Receives Positive NRI Response
Tuesday, October 13: The IndiaHome Property Exhibition, presented by Citibank NA and jointly organized by the Dubai-based Media Agency Middle East and Signature Events, has received a positive NRI response as 18 of India's most reputed real estate developers displayed their properties at Raffles Hotel in Dubai.
Dubai all set to Host Indian Property Exhibition
Thursday, October 08: The IndiaHome Property Exhibition, which helps the Indian diaspora get information on a range of residential real estate opportunities in India, will be held in Dubai from October 9-11.
Housing Ministry Showcases Draft Model of Real Estate Regulation Act
Saturday, October 03: A draft model law by the Union Ministry of Housing and Urban Affairs provides for greater transparency in dealing with housing properties. File photo of housing complexes and IT malls under construction in Chennai. A draft model law by the Union Ministry of Housing and Urban Affairs
Re/Max All Set To Commence Operations in Gujarat
Thursday, October 01: After Jones Lang LaSalle and Cushman & Wakefield, another US based real estate organisation is now making inroads in Gujarat. RE/MAX India, a division of US-based RE/MAX International Property Group
Asset Management Companies Target Overseas Investors
Friday, September 25:Asset management companies have begun selling India to the world yet again. A few domestic fund houses, along with scores of smaller investment companies, are targeting overseas investors through offshore offerings.
NRIs Keen to Invest In Goa Property Market
Monday, September 21: The tiny coastal state of Goa, known to be the best remedy for one to distress, detox and recoup, has in recent years attracted lot of investment in holiday homes by non-resident Goans (NRGs), non-resident Indians (NRIs)
Chances of India Allowing FDI in Multibrand Retail Seems Bleak
Friday, September 18: India is unlikely to allow foreign investment in multibrand retail at least in the next couple of years, a top industry ministry official said. “It’s a sensitive sector. I don’t see it happening
Future Group May Tie Up With World No 2 Retailer Carrefour
Tuesday, September 15: The possibility of an imminent tie-up between Future Group and the world’s No 2 retail Retailer, Carrefour, after a hush-hush visit by the French chain’s global chief executive, Lars Olofsson, to India late last week and his meeting on Saturday with Future CEO Kishore Biyani. Mr Olofsson
Real Estate Prices to Remain Stable This Festive Season
Wednesday, September 09:Property prices are unlikely to rise sharply during the festive season as buyers have become very price sensitive and are not ready to pay premium on flats. Talking to Hindustan Times, Anuj Puri, chairman and country head, Jones Lang LaSalle Meghraj (JLLM) said
Indian REITs Losing Overseas Opportunities
Wednesday, September 02: In a scenario where real estate is becoming out of reach for small investors, to invest and reap profits, real estate investment trusts (REITs) are a good way for the investor class to invest in the sector. It also benefits developers, as more funds are pumped into real estate. REITs/REMFs
Real Estate Sector Recovering Worldwide
Monday, August 31: There are strong new reports that the global real estate market is hitting the bottom and some impressive positive news is coming from real estate markets around the world. In the U.S., the real estate market has yet to hit the bottom.
Re/Max India Expands Its Area of Operation in 7 More Regions
Tuesday, August 25: RE/MAX India, the master regional franchisee of RE/MAX International in India, has expanded its areas of operations in 7 more regions. The company has appointed regional owners for seven new regions which include Bangalore
NRIs Focusing On Indian Investment
Friday, August 21: A stint or two abroad is a common thing for most professionals these days. No wonder, financial advisors have to deal with many Indians with non-resident tag these days. According to them, most non-residents are keen to keep their Indian ties intact and invest in various avenues like mutual funds (MFs)
NSC Wants Stringent FDI Norms
Wednesday, August 19:The government is considering a sweeping review of its FDI guidelines following increasing risk of terror funds being parked in the country and other investments fraught with security implications.
CREDAI Real Estate Exhibition Begins In Bangalore
Monday, August 17: CREDAI Realty Expo 2009, organised by Confederation of Real Estate and Developers Association of India (CREDAI), Karnataka, the trade body of real estate developers in Karnataka, was inaugurated here on Saturday.
UT Forms NRI Cell to Help Handle Real Estate and Other Disputes
Thursday, August 13: UT administration has launched an NRI cell, which will be dealing with legal disputes regarding people from the city, who are living abroad. This has been done after a case came to light where a real estate dealer, in collusion with some UT officials, allegedly sold the property of an NRI without his knowledge.
UK’s Hotel Chain Premier Inn Plans To Set Up 80 Hotels In India
Tuesday, August 11:United Kingdom’s hotel chain Premier Inn is planning to open about 80 hotels in the country in the next 10 years. The hotel chain will invest Rs 4,000 crore to build 3-star hotels at various locations in the country with a combined capacity of 9,700 rooms.
Westernised Residential Names Gaining Trend in India
Saturday, August 08:The building quality notwithstanding, such modern names are also more likely to fetch a premium for developers." Deepak Shah, chief marketing officer at IREO, a leading global investment fund, which has recently entered into real estate development, believes that the choice of brand names across categories mirrors a society's preferences.
43% Drop in Foreign Direct Investment
Thursday, August 06:India received $2.2 billion foreign direct investments (FDI) in May this year, department of industrial policy & promotion (DIPP) secretary Ajay Shankar said. There is a 43% drop in the FDI inflow in May 2009 compared to $3.9 billion received.
India Goes Down To Third Spot in FDI Ranking
Saturday, July 25: India has dropped to third place in global foreign direct investments (FDI) this year following the economic meltdown, but will continue to remain among the top five attractive destinations for international investors during the next two years
NRIs Showing Interest In Real Estate India
Thursday, July 23:“NRIs are facing a unique situation," says JS Augustine of Everest Developers. "There is a certain amount of job uncertainty, due to the global economic situation. At the same time, Indian real estate offers lower entry-level prices, with potential for good returns on investment (ROI).
NRIs Target India, Indians Eye Abroad For Real Estate Investment
Wednesday, July 15:After long lull, there is flurry of activities in the realty sector. The large NRI community, especially Malyali and Punjabi, are on rampage. If the recent study of Assocham on the real estate scene in India is any indication, the large Malayali and Punjabi NRIs
Govt Can Give Green Signal to FDI in Multi-Brand Retail
Wednesday, July 08:The government may allow foreign direct investment (FDI) in multi-brand retail this year to help the struggling domestic retail sector to get much-needed funds. This was hinted by the Economic Survey
Indian HNIs Prefer India For Real Estate Investment
Saturday, Jun 27: A man, wanted by city police for allegedly cheating NRIs to the tune of Rs eight core by luring them to invest in a non-existent hotel project in Karnataka two years ago, was arrested in Kolkata on Wednesday.
India the Most Attractive Nation for Global Retailers
Thursday, Jun 18:Providing good growth potential for global retailers amid the economic slowdown, India has emerged as the most alluring market for investment in the retail sector, surpassing the likes of China, Russia and the United Arab Emirates.
Stable GOVT and REITs can Bring Back NRI Investors
Friday, Jun 12: With the market sentiment buoyant over the prospects of a stable and investment-friendly government at the Centre and a distinct exchange rate advantage, overseas Indians may once again turn their attention to the rapidly-recovering real estate market in India. More so, as market regulator Sebi (Securities and Exchange Board of India) has begun deliberations with experts to set up a framework for Real Estate Investment Trusts (REITs).
Political Stability Can Bring Back NRI Interest in Indian Property Market
Monday, Jun 08: India’s thumping electoral victory will mark the return of confidence and also funds to the Indian real estate sector, says Sukhraj Nahar, chairman of Nahar Group, “Having a stable government at the centre should provide a bottom to the Indian real estate market and help turn it around.
MCHI to Host Indian Realty Expo 2009 in Dubai
Wednesday, Jun 03: Maharashtra Chamber of Housing Industry, or MCHI, will be showcasing properties of major builders from India at the 12th India Realty Expo 2009, to be held in Dubai from June 4 to 6 at the Sheraton Dubai Creek Hotel and Towers.
GOVT Working on FDI in Retail
Tuesday, May 26: Retailers, local and global, as well as private equity (PE) investors are closely tracking the new government’s moves on foreign direct investments (FDI) in retail. In a few weeks, plans are expected to get clearer to pave the way for the next round of fresh retail strategies.
GOVT to Concentrate on Boosting FDI
Wednesday, May 20: Working out and unveiling a new Foreign Trade Policy, working out reforms to finetune the Foreign Direct Investment Policy (FDI), taking a call on opening up of the retail sector for foreign investment and giving a boost to the sagging exports are likely to be on top of the agenda of the new Commerce and Industry Minister who takes office in the new government. ......
Barclay's Indian Retail Head Quits
Monday, May 11: Samir Bhatia, head of Barclays retail and commercial business in India, and the man who built the bank's retail business from scratch, put in his papers on Thursday. The move puts to rest market speculation that Mr Bhatia was on his way out of Barclays. ......
NRIs Investing in Residential Projects
Tuesday, May 05: Last year, after RBI spelt out clear norms for NRIs to invest in property, and with NRIs holding Indian passport no longer requiring prior permission before investing, there was a spurt in NRI investment in Indian realty. According to Omaxe's Rohtas Goel, "The policies set out by the government regarding property investment and repatriation, has made investments in India more favourable......
Making Property Investment Simpler for Non-Residents
Saturday, May 02: As property markets fall world-wide, one of the few consolations for real-estate investors is that some governments have become more open to nonresident property owners. A growing number of them are considering loosening or temporarily suspending foreign property-ownership ..
Better Return on Savings for NRIs
Tuesday, Apr 28: Non-resident Indians, who keep their surplus cash in rupee-denominated non-resident external (NRE) and non-resident ordinary (NRO) savings accounts with Indian banks, will receive higher returns. This follows a decision by the Reserve Bank of India (RBI) to calculate the interest on a daily basis from April 2010..
Foreign Investors Eyeing Badly Hit Small and Mid Size Indian Developers
Saturday, Apr 18: Foreign private equity investors are eyeing the Indian real estate market to buy properties from small and mid size developers badly hit by the economic downturn. A clutch of big investors from the EU and Middle East are expected to invest $400-500 million in distressed land deals. These include Spain’s Nova Capital; Germany’s SachsenFonds
Roadshow by Realtors to woo NRI Bengali's
Monday, Apr 13: City realtors are set to woo the non-resident Bengali community in recession-hit North America with their first "comprehensive" real estate roadshow in that part of the world. Credai Bengal, the state chapter of the national umbrella body of real estate developers, will hold the realty expo during the North American Bengali Conference (NABC), scheduled for July 2-4 in San Jose.
Depleting NRI Interest Force Developers to Put Projects on Hold
Thursday, Apr 09: Metros in South India are more attractive for infrastructure projects than their counterparts in the other parts of the country, an industry lobby report said Sunday. According to the report, 'Indian Metros: Pulling Infrastructure Investment', released by the Associated Chambers of Commerce and Industry (Assocham), Hyderabad, Bangalore and Chennai received 70 per cent
Assocham Sees South India as a Better Investment Option
Monday, Apr 06: Metros in South India are more attractive for infrastructure projects than their counterparts in the other parts of the country, an industry lobby report said Sunday. According to the report, 'Indian Metros: Pulling Infrastructure Investment', released by the Associated Chambers of Commerce and Industry (Assocham), Hyderabad, Bangalore and Chennai received 70 per cent
3 Year Lock-In For Foreign Investment in Real Estate
Monday, Mar 30: Foreign investors in Indian real estate cannot sell their stakes to another foreign investor before three years, the Foreign Investment Promotion Board (FIPB), the body that clears such proposals, has said.
Developers Trying to Woo Indian Living Abroad
Monday, Mar 23: The global property meltdown may have cast a shadow on foreign roadshows by Indian developers over the last few quarters. But some builders are now going all out to woo Indians living abroad.
NRIs- Ray of Hope for Realtors
Monday, Mar 16: Realtors in Mohali district have seen a ray of hope among NRIs to keep their business going during the global slowdown. While the local buyers are hesitating from buying houses coming up in large number in the district, it is the interest of NRIs from Canada, US, England and middle-east countries
Govt Works on Policies to Attract More Overseas Investments
Friday, Mar 13:Companies in sectors with foreign direct investment (FDI) limits could soon be exempted from taking prior approvals for participation by foreign funds in their share issues, as per new rules being considered by the government to attract more overseas investments.
No Impact of Global Recession on FDI
Monday, Mar 9: The Minister for Overseas Indians Affairs, Vayalar Ravi, recently informed the Lok Sabha (the lower house of the Indian parliament), that the global recession had no impact on Foreign Direct Investments (FDI) from Indians abroad as it has registered a rise in the current fiscal.
50% Decline in NRI Realty Investment
Wednesday, Mar 4: The NRI season is now at its fag end. Despite undertaking tours to the US, the UK and Middle East and doling out freebies and discounts, realtors have been unable to catch the attention of this cash-rich community
Indian banking system not yet geared up for NRIs
Monday, Feb 23: Remittances, in fact, have become a major component of the forex earnings and gross domestic product (GDP) of the country. However, the banking services in the country are not yet fully geared up to cater to the NRI segment of the market, specially since the RBI has reportedly issued strict guidelines to all banks on funds that come in through transfers from NRI customers into their accounts.
Geojit Financial Services launches Property Services Division in Kochi
Wednesday, Feb 18: Geojit Financial Services on Wednesday launched its property services division, which will offer investors and builders a single transparent platform to buy/sell office and commercial spaces and residential apartments/flats.
FDI rules open all Sectors to Foreign Investment
Saturday, Feb 14: With foreign direct investment in the country trickling to $1.36 billion in December, the government has amended rules for foreign direct investment, thereby opening up almost all sectors of the Indian economy, including defence, to foreign investment.
Govt Liberalises Investment Norms for NRIS in Real Estate
Wednesday, Feb 11: The government has liberalised investment norms for NRIs to invest in real estate in India. At the same time there is a need of adhering to ground realities before plunging into investment. We provide some of the frequently answered questions answered recently by the Reserve Bank of India .
NRIS Invest In Real Estate Despite Recession
Thursday, Feb 05: Non-Resident Indians (NRIs) and overseas Indians feel that with the property rates heading southwards, time is ripe to invest in India’s real estate industry. Experts are of the view that the Indian economy .
Govt Tightens Norms on Foreign Purchase of Property in India
Monday, Feb 02: Foreign nationals seeking to purchase immovable property in India are set to face increased scrutiny. Taking a serious note of the foreign nationals acquiring immovable properties illegally in India .
Union Government can Change Foreign Ownership Rules
Thursday, Jan 29: The Union government plans to change foreign ownership rules in the real estate sector by scaling down the minimum area requirements for residential and commercial projects that have overseas investment .
Yellow Pages for NRIS to Be Launched Soon
Friday, Jan 23: Overseas Indian Affairs ministry and Confederation of Indian Industry (CII) have decided to launch an exclusive yellow page, listing prominent NRI entrepreneurs who are on the look out for Indian partners in their bid .
Real Estate Losing Out to Equity as Preferred NRI Investment
Tuesday, Jan 20: Once the most lucrative of asset classes, real estate is fast losing out to equity as the preferred investment vehicle for affluent non-resident Indians (NRIs), according to officials at retail broking houses. However, the investment cap.
Real Estate Slowly Becoming Buyer’s Market
Monday, Jan 19: Is real estate gradually becoming a buyer's market from being a seller's market? More than 50 of the 220 people who booked plush flats at the Seawoods NRI Estate in Nerul have stopped paying their monthly instalments.
Kerala NRI Remittances Witness Severe Blow
Thursday, Jan 15: Kerala is a state that is heavily dependent on NRI remittances for its consumption expenditure, with 1.85 million emigrants sending home nearly Rs 24,525 crore in 2007 alone, according to a recent report by the Centre for Development Studies, Trivandrum.
Investment Help for NRIs
Wednesday, Jan 14: Non-resident Indians (or NRIs) are treated as a special category of investors, given their Indian antecedents and their growing importance as a significant source of foreign capital in India.
Centre Should Plan Attractive Schemes to Lure NRI Investors
Monday, Jan 12: Centre should come out with an attractive scheme for Non-Resident Indians, to invest their savings in the country, a leading NRI banker has said. R Seetharaman, Chief Executive officer, Doha bank, Group, Qatar .
NRI Plans Residential Complex in Hyderabad
Sunday, Jan 11: The Shamshadabad project being developed under the aegis of IGS inc, a company registered in Chicago as well as in Andhra Pradesh, will be under two to three phases .
NRI Remittances Touch Record High In Q2
Wednesday, Jan 07: The global economic slowdown has not deterred Indians living abroad from remitting funds back home. In fact, official figures indicate that NRIs .
Pravasi Bharatiya Divas Opens Today
Wednesday, Jan 07: The seventh edition of Pravasi Bharatiya Divas, which opens here on Wednesday, could see the plight of Indian workers abroad being discussed.
Protection of Property- Prime Concern for NRIs
Monday, Jan 05: Many Non-Resident Indians (NRIs) invest in real estate back home. Most see it as a commercial activity while also a way to stay in touch with their national identity.
Affluent Indians Eyeing Property Abroad
Saturday, Jan 03: The realty industry is one of the worst-hit sectors globally following the financial meltdown, but for the well-heeled in India, this is excellent tiding. With real estate prices at an all-time low across borders.
Investment Potential for NRIS in Realty and Infrastructure
Wednesday, Dec 31: As the global financial crisis continues to unravel, the real estate sector around the world continues to take a hit with credit in short supply and consumer demand in housing witnessing record lows.
NRIS Investment in India Affected by Us Crisis
Monday, Dec 29: Living thousands of miles away from their homeland, a large number of non-resident Indians (NRIs) have never lost their fondness for India. They have always wanted to invest in India. According to a World Bank report.
Banks Allure NRIS into Real Estate with New Schemes
Tuesday, Dec 23: The booming real estate market in the country has prompted industry players to introduce a slew of innovative products to people willing to pay. From real estate developers to real estate fund managers .
Realty Market Ripe for NRIs
Monday, Dec 22: For the Gulf NRIs weighing his options diligently and with foresight, some attractive opportunities are on offer in the real estate sector. Consider these facts: Lenders are slashing home loan rates .
Banking Crisis- India an Option for NRIS
Saturday, Dec 20: In the wake of the global financial crisis and other uncertainties, banks in developed markets across Europe and the US are making strong and definitive cuts throughout .
Positive Response to Kerala NRI Meet
Saturday, Dec 20: Kerala Tourism’s investment meet for nonresident Keralites ‘Ente Naadu’ has received tremendous response from the Gulf region, according to the organisers..
Luxury Housing for Aged NRI Parents
Friday, Dec 19: Medical help, security at the push of a button, a spa, a golf course and even spirituality… Such safe and luxurious housing for the elderly is coming up, perhaps for the first time in India.
HDFC Reduces Home Loan Rates
Friday, Dec 19: Interest rates on existing home loans (floating) have started coming down. HDFC, the leading housing finance company, kicked off a reduction in old home loan rates by cutting its retail prime lending rates.
Reliance Money Targets Malaysia NRIs
Wednesday, Dec 17: Reliance Money on Tuesday made its debut in Malaysia, by joining hands with Infinity Financial Solutions, one of Malaysia's financial products and services distribution company. The move is a part of plans to expand company's global footprint. This is the first initiative by an Indian broking and distribution company to offer a bouquet of financial products and services to NRIs in Malaysia.
NRI convention to Focus on Key issues facing Indian diaspora
Wednesday, Dec 17: Pravasi Bharatiya Divas, the seventh edition of the annual convention for NRI's, will be held here between January 7 and 9, 2009. The convention, to held in Chennai for the first time, will discuss issues facing the Indian diaspora as India emerges as an economic power. It will also look at concerns relating to the current economic crisis.
"Caution" the Catchword for NRIs
Tuesday, Dec 16: It's homecoming season for NRIs. But this time around, they are not dashing to their neighborhood realtor to book a flashy second home. 'Caution' has become the catchword. Global real estate consultants and experts feel that the 'only real catalyst' that could pep up the NRI spirit during this lean period is a significant price cut, which is expected to happen in the next 3-4 months.
Developers Feel NRIs have the Best Investment Opportunities in Current Scenario
Saturday, Dec 13: Investing in properties is still the best form of investment in India, says a leading property developer. Property prices have dropped in Kerala and other states in recent months, said Hoysala Projects Private Limited (HPPL) chief operating officer Santhosh T Kuruvilla.
50% Drop in NRI Realty Purchase
Sunday, Dec 14: Recession in the United States and Europe has forced many Non-Resident Indians (NRIs) to rethink their property investment plans inIndia. There has been a drop of 50-60% bookings by the NRIs over the last three months owing to tight liquidity conditions in the international markets, top realty players told SundayET .
Indian Real Estate Looks for NRI Investors
Thursday, Dec 11: With domestic sales suffering as the rupee loses value against the dollar, property developers in India are looking outside the country for an alternative market. They are hoping to tap into a growing niche within overseas property investment .
NRIs in Large Number Turn to Consumer Courts
Monday, Dec 08: Residing in foreign shores, but not completely severed from their roots in India, they are crippled by a sense of insecurity and restlessness, coupled with lost peace of mind.
Investment Option For Nris
Sunday, Dec 07: Here’s an insight into investment avenues for NRIs in the present market situation. For risk-averse investors, traditional fixed income products such as Foreign Currency Non Resident (FCNR) fixed deposits and Non Resident External (NRE) fixed deposits are the safest bet.
Indian Real Estate Market Targets NRISThursday, Dec 04: Some of India's biggest real estate market players are planning to target non-resident Indians (NRIs) as the value of the rupee falls against the dollar. Firms like developers Omaxe are turning to NRIs
Kerala Eyes NRIsWednesday, Dec 03: As the world grapples with one of the most serious economic crises in recent times, the tiny south Indian state of Kerala finds itself on very thin ice owing to its near complete dependence on exports, tourism and remittances - all of which are external strengths.
Omaxe Aims NRI BuyersMonday, Dec 01: With the rupee depreciation with the dollar, Omaxe and other property developers in India plan to target the NRI buyers. NRIs can get a good deal now because of the recent depreciation of the rupees against the dollar.
HNIs and NRIs Seeking Wealth Managers for Investment helpThursday, Nov 27: Owing to the global slowdown, high net worth individuals (HNIs) in India are increasingly seeking wealth managers to manage and restructure their investment portfolios.
Gulf's Realty Slowdown Affects Indian FirmsThursday, Nov 27: Many Indian real estate and construction firms and architects are feeling the heat of a real estate slowdown-in West Asia. Over the past three-four years, developers and construction firms such as the Dheeraj Group, Hiranandani Developers Pvt. Ltd, Ajmera Group and Mayfair Housing (P) Ltd entered markets in West Asia, attracted by relatively low-cost land, rising demand and the scope for striking joint ventures (JVs) with local developers.
Allow NRI Currency Hedging- ASSOCHAM to RBIWednesday, Nov 26: The Associated Chambers of Commerce and Industry of India (Assocham) has recommended that the Reserve Bank of India (RBI) should allow non-resident Indians (NRIs) to hedge their currency risk in Indian currency and provide regulatory approvals, enabling retail investments in Indian stock markets from NRIs and foreigners.
Developers Feel Falling Rupee will Woo NRIsWednesday, Nov 26: City's real estate developers are hoping that the falling rupee would help woo NRI customers and prop up the market here. Stung especially by dropping of sales by about 80% in Mumbai, real estate developers are now going to the UAE in a bid to hardsell to Non Resident Indians (NRIs).
NRI Home Loans- best Option for NRIsTuesday, Nov 25: Are you residing abroad and thinking of investing in a residential property in India then NRI home loans are the best option for you. Usually NRIs are doubtful whether they can invest in a residential property in India or not.
Developers in Mumbai Focus On UAE NRI BuyersTuesday, Nov 25: Real estate developers in the metropolis plan to target NRI buyers, primarily in the UAE, in a bid to push up their sales, affected in recent times by high prices and adverse sentiment, a senior industry official said.
Opportunity for NRIs In IndiaTuesday, Nov 25: Remittance of funds by expatriates to their home country depends principally on the origin factors and destination factors . Non-resident Indians (NRIs) are, in some cases, big earners and in most cases inclined towards savings.
Mumbai Emerging As Manhattan of The EastTuesday, Nov 25: Mumbai has much to offer its expatriate residents. For the thousands of people who leave the UK each year and head for a new life in India, the world's largest democracy is certainly no third world option.
Real Estate Sector on the edge of correctionMonday, Nov 24: Property market in India is poised for a deep correction and the prices are estimated to fall by up to 30% from current levels, with significant knock on effects on the economy, says a Goldman Sachs report.
INC Developers enters India with Rs 100 Cr InvestmentThursday, Nov 20: US based INC Developers has entered the heavily slowed Indian real estate market with a super luxurious apartments scheme worth Rs 100 crore, which it would jointly develop in Pune with Amar builders over next 24 months. The super luxurious apartments with 6,500 square foot size each, would be priced between Rs 5 crore and Rs 6 crore.
RBI unlikely to lift the key stock indicesMonday, Nov 17: Well, the outcome of the much hyped G-20 summit over the weekend was a bit of a damp squib. Leaders of the world's leading nations (advanced and emerging) failed to announce any major breakthrough initiatives, except for a symbolic appeal for a coordinated global action to tide over the unprecedented crisis.
Realty Firm puts Delhi office on blockThursday, Nov 13: Both Unitech and HDFC admitted the property was on the block, but refused to confirm the deal. "I cannot confirm till we sign a deal," Unitech chairman Ramesh Chandra said.
Real Estate blues hit foreign Investors' India plansTuesday, Nov 11: International hotel chains have tied up with real estate developers like DLF, Emaar MGF, Unitech and Parsvanath to set up five-star hotels. However, fund-starved developers, who are trying to raise money for their core activities like residential and commercial property projects, are understood to have put the hotel ventures on the back burner.
NRIs/PIOs can acquire home in IndiaMonday, Nov 10: NRIs/PIOs can acquire residencial property in India; however a PIO who is a citizen of Pakistan, China or Bangladesh has restrictions in acquiring property. Also, NRIs and PIO cannot buy agricultural land, plantation property and farm house.
Castlewood's to Invest in IndiaFriday, Nov 7: Castlewood Investment Properties, one of the largest real estate developers in Europe and the US, has joined hands with Home Place International and their exclusive Indian associate, Company Land Solutions (India), for their India foray.
Major Changes in Foreign Direct InvestmentFriday, Nov 7: The government has proposed extensive changes in the guidelines for foreign direct investment (FDI) that could impact a range of industries such as telecom, infrastructure, real estate and broadcasting.
Foreign Investment inflows increase 259 per cent in SeptemberWednesday, Nov 5: Foreign direct investment (FDI) in India increased 259 percent in September to $2.56 billion, compared to the same month last year, wit h Mauritius being the largest investor
Rich Indians Eyeing Singapore Property MarketTuesday, Nov 4: Fearing a crash in local real estate prices, many well-heeled Indians are buying properties in Singapore. While such purchases could be pure investments, the lure of permanent residentship offered to certain investors under the Singapore law may have also influenced the decision.
Liberalisation in ECB and FDI Necessary to Control SlowdownTuesday, Nov 4: The liquidity crunch has become a prime concern for the government. The government is conscious that unless this problem is sorted out, the economic slowdown cannot be controlled. Besides improving the banks' capacity to lend, the finance ministry has also identified two areas for improving the availability of funds.
Firms Devise Lucrative Opportunities for NRIsMonday, Nov 3: Fund managers and designers of financial products are getting increasingly creative when it comes to offering fruitful and safe options during the present times of economic turmoil.
NRIs Stay Away from Investment in Real EstateSunday, Nov 2: Another blow of the global meltdown has been felt by the already bleeding realty estate industry. Non-Resident Indians (NRIs) are avoiding coming home this year and not investing in property, something that brokers look forward to every year.
Permit direct NRI deposits- Kerala Govt's Message to CenterSaturday, Nov 1: The Centre should permit Non-Resident Keralites to invest in the state-owned chit funds as there was no provision for the state to accept such deposits directly, Kerala Finance Minister Thomas Isaac said on Saturday.
Financial crunch hurting British NRIsThursday, Oct 30: The global financial crisis in Britain is hurting most NRIs but helping the super rich. The rise in inflation following the oil price rise of the last few months has increased grocery bills of most working and middle class Indians, as for everyone else
Monetary policy stance needs more easingMonday, Oct 27: The international financial crisis that surfaced about a month ago has affected even developing countries like India. Initially it was felt that the direct impact of the global meltdown on the Indian economy would be minimal.
India not in recessionary modeSaturday, Oct 25: If the situation warranted, RBI would not hesitate to either infuse or withdraw liquidity from the system, he said, adding that at the same time the central bank wanted banks to focus on credit quality and ensure flow to productive and vulnerable sectors.
HDFC Bank Opens Overseas Branch For NrisThursday, Oct 23: Private sector HDFC Bank, has opened its first overseas full-fledged branch in Bahrain with a 25-member strong staff. The branch would offer cash management and trade finance solutions to corporate clients and wealth management services for NRIs, a release issued here on Wednesday stated.
Citibank Provides Attractive Opportunity to UAE NRIsWednesday, Oct 22: This upcoming weekend of 17th & 18th October will have the reputed real estate developers from India coming together under one roof with Citibank offering attractive options for availing home loans to purchase properties.
Federal Bank Forays into Wealth Management to Serve its Huge NRI ClienteleWednesday, Oct 22: Kerala based Federal Bank, with its Rs 48,000-crore business, is looking to enter the wealth management space, especially for catering to its huge NRI clientele.. The bank has a good four lakh NRI customers. This base, according to bank's chairman and CEO M Venugopalan, throws up a solid business opportunity for the bank. Mr Venugopalan expects to firm up this plan in the next three months. The banks overall customer base is nearly 50 lakh.
Domestic Savings and NRI Money Can Stabilise IndiaTuesday, Oct 21: The fall and fall of the Indian stock indices must surely have given the jitters to non-resident Indians who are also looking at the dismal global scenario that has caused this. Not to worry. Among several other home truths, Indian planners seemed to have figured out the worth of domestic savings and NRI remittances when it comes to insulating the economy from global tremors.
Crack in Indian realty firmsTuesday, Oct 21: Future economic historians may remember the month that just ended as Black September. Lehman Brothers collapsed; the Bank of America acquired Merrill Lynch; AIG was nationalised; banks such as Washington Mutual and Wachovia were wiped out. As credit and finance markets around the world tumbled like ninepins, so did stock markets in India, with the Bombay Stock Exchange Sensitive Index (Sensex) falling 3.35% or 469 points on September 15.
Golden Opportunity for Nris & Pios In DubaiMonday, Oct 20: The Pune Property Shows in Dubai, organized by magickbricks.com will serve as a platform for buyers and sellers to come face to face and make the most of the excellent investment opportunity that Real Estate in Pune offers. The unique & innovative Pune Property Show is being held in on 17th and 18th October '08 at Radisson SAS, Dubai.
Real Estate India Trembles in Market QuakeMonday, Oct 20: It has been a year of steep decline for the real estate sector in India. It remains one of the worst hit by the domestic credit squeeze and the global financial meltdown. To an extent, the problem is reflected on the BSE Realty Index, which is now down 82% from its January peak.
Govt keen on 49 pc FDI in Multi-Brand RetailSunday, Oct 19: The Government seems to be aggressively pushing reforms that will help India attract foreign capital - be it portfolio flows or direct investment. Even though only six months remain for the general elections to kick in, Industry and Commerce Minister Kamal Nath is keen to allow FDI in the politically sensitive retail sector.
Nri Tycoon Interested In Investing in KarnatakaSaturday, Oct 18: Managing Director of the Abu Dhabi-based multinational retail giant Emke Group Yusuf Ali M.A. has expressed his desire to invest in the State. Pointing out that Karnataka is one of the fastest developing States with a steadily ascending growth curve he said that Special Economic Zones in the State are a lucrative investment option.
NRI's Investing into Second HomesFriday, Oct 17: Waking up to the sound of birds chirping, walking on tender grass wet with the morning's ew, listening to the sweet songs of flowing water as memories of an earlier time come flooding over you, soaking in the delights of nature over a cup of coffee. if this is your dream, investing in a second home is the road to realise it.
Economic slump may hit many segments in StateFriday, Oct 17: The crisis in the international economic scene is bound to have its repercussions in the State economy as well. The NRIs, the export and import-based companies and the real estate sector may suffer if the global economic meltdown continues. The NRIs will have to share the burden of measures being implemented by their host countries to ward off the crisis.
Global crisis may impact NRI investments in PunjabThursday, Oct 16: Punjab, as many of the Indian states may be negatively affected by the financial crisis in the US. Many NRIs of Punjabi origin have set up trusts and charities to enhance the health, education and social infrastructure in Punjab. Besides, remittances (estimated at US $ 2 to 3 billion per year) are contributing to an enrichment of the state (World Bank, 2004)
RBI cuts CRR by 1%, raises interest rate ceiling on NRI depositsThursday, Oct 16: After the Reserve Bank of India reduced the CRR (Cash Reserve Ratio) was by 150 basis points or 1.5% effective October 11, it has announced another cut of 1%. Now CRR stays at 6.5 per cent. Besides this, RBI decided to provide Rs. 25,000 crore to banks as the first instalment under the Agricultural Debt Waiver and Debt Relief scheme of the Government.
QNB launches promotion for NRI remittancesTuesday, Oct 14: In a new promotion scheme for NRI Remittances, Qatar National Bank (QNB) customers using the Bank's EAZYinternet e-banking channel to transfer funds in Indian Rupees to their HDFC Bank accounts will have the opportunity to win 100,000 Qmiles.
Remit2India joins hands with UAE ExchangeTuesday, Oct 14: Remit2India, the country's leading financial services provider has tied up with UAE Exchange to offer an integrated window to address these needs of the NRI fraternity in the Gulf. The NRIs can now avail of gifting services under the brand-name 'Window2India'.
NRIs to pay more interest for large borrowingsMonday, Oct 13: Banks in India have started increasing home loan rates for large borrowers by 25 to 50 basis points. The increased rates are applicable to NRI borrowers as well. Earlier, banks had only two slabs for home loans -- up to Rs 30 lakh and above Rs 30 lakh. Some banks have now introduced a third slab that covers borrowings over Rs 75 lakh.
Banks not facing pressure from foreign operationSunday, Oct 12: Indian Banks are not facing any pressure from their foreign operation or to meet its overseas liability. In the last couple of weeks, growth in the deposits of non-resident Indians has increased. According to latest RBI data, the total NRI deposits during the fortnight ending on July 18, 2008 increased are over Rs 3,000 crore from Rs 59,000 crore to Rs 63,081 crore.
Right time for NRIs to invest in India: Federal BankSaturday, 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 meetFriday, 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 countriesThursday, 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 GujaratWednesday, 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 NRIsTuesday, 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 NRIsMonday, 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 issueMonday, 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 banksMonday, 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 investorsSunday, 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 riseSunday, 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 BanksSaturday, 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 DubaiThursday, 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 depositsWednesday, 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 depositsTuesday, 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 ratesMonday, 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 MohaliMonday, 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 GulfSaturday, 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 depositsFriday, 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 firmsFriday, 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 GujaratThursday, 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 futuresThursday, 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 FCEBsWednesday, 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 IndiaWednesday, 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 BKKTuesday, 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 depositsMonday, 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 ProjectSunday, 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 OpportunitiesSaturday, 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 RatesSaturday, 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 OperationsFriday, 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 serviceFriday, 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 ServicesThursday, 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 DepositsWednesday, 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 LucknowWednesday, 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 fundWednesday, 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 AssetsTuesday, 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 ChandigarhTuesday, 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 InvestmentsMonday, 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 BangaloreFriday, 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 ApprovalFriday, 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 IndiaFriday, 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 CochinThursday, 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 appreciationThursday, 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 ExpoTuesday, 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 NagpurMonday, 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 marketMonday, 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 SchemesThursday, 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 InflowWednesday, 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 BusinessTuesday, 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 crMonday, 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 SlashedSaturday, 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 NRIsSaturday, 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 marketFriday, 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 InvestorsFriday, 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 ExpoThursday, 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 EstateWedneday, 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 IraqTuesday, 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 HeritageMonday, 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 GoaMonday, 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 InvestmentThursday, 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 MuscatThursday, 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 LaunchedThursday, 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 GulfWednesday, 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 BangaloreWednesday, 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 DestinationSaturday, 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 EstateSaturday, 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 EstateFriday, 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 BangaloreFriday, 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 SingaporeThursday, 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 MumbaiThursday, 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 NRIsTuesday, 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 InvestmentTuesday, 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 GrowMonday, 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 NRIsTuesday, 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 OmanTuesday, 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 DowntrendMonday, 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 GarmentsMonday, 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 BudgetFriday, 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 TransparencyTuesday, 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 anvilFriday, 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 RajThursday, 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 FundWednesday, 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 FundingTuesday, 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 ITATMonday, 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 FirmsSaturday, 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 ChicagoThursday, 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 MallsSaturday, 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 MPCWednesday, 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 IndianTuesday, 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 HospitalityWednesday, 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 MohaliWednesday, 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 MoneyWednesday, 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 VornadoMonday, 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 DownMonday, 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 SEATTLEMonday, 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 KochiWednesday, 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 IndiaTuesday, 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 SoonTuesday, 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 DhabiTuesday, 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 BusinessMonday, 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 8Monday, 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-BrandsMonday, 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 UsSaturday, 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 SPVSFriday, 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 BoomFriday, 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 SEZSThursday, 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 PuneThursday, 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 AverageThursday, 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 SectorThursday, 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 yearsMonday, 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 KochiMonday, 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 MarketFriday, 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 NRIsThursday, 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 SEZTuesday, 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 IndustryTuesday, 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: ReportTuesday, 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 BangaloreTuesday, 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 ValuationsSaturday, 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 IndiansFriday, 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 PropertyFriday, 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 PanchkulaThursday, 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 CroreThursday, 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 SpendThursday, 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 YearsTuesday, 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 ParsvanathTuesday, 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 CBRESaturday, 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 NetSaturday, 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 FirmsWednesday, 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 BPTPWednesday, 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, MalaysiaTuesday, 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 togetherMonday, 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, HNISMonday, 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 ProjectMonday, 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-CrisilSaturday, 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 TidaSaturday, 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 GrowthSaturday, 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 ArchitectsFriday, 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 IndiaMonday, 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 RealtySaturday, 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 EstateFriday, 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 PropertyFriday, 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 firmThursday, 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 EstateTuesday, 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 NewsFriday, 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, ChinaFriday, 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 MarketThursday, 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 DevelopersWednesday, 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 ArmaniWednesday, 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 IndustryTuesday, 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 ForeignersSaturday, 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 TransactionsSaturday, 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 aboutFriday, 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 InvestorsFriday, 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 ParksThursday, 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 UnitsThursday, 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 MajorsThursday, 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 SectorThursday, 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 FundWednesday, 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 2008Wednesday, 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 destinationWednesday, 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 NRIsWednesday, 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 WorldTuesday, 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 CityMonday, 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 ForayMonday, 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 GovernmentFriday, 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 AttentionThursday, 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 projectWednesday, 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 WelfareWednesday, 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 NRIsTuesday, 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 DevelopersFriday, 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 RemittancesThursday, 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 RevivesTuesday, 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 SectorMonday, 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 OpportunityFriday, 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 CompanyThursday, 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 CourtsWednesday, 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 InvestmentTuesday, 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 AttentionMonday, 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 NRIsFriday, 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 EstateThursday, 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 IndiaWednesday, 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 EstateTuesday, 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 CourtsMonday, 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 RemittancesFriday, 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 MillionThursday, 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 DubaiWednesday, 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 IndiaTuesday, 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 TrissurMonday, 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 SlowdownFriday, 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 SectorThursday, 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 waiverWednesday, 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 KeralaFriday, 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 SchemesThursday, 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 FundWednesday, 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 RemittancesTuesday, 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 IndiaMonday, 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 RemittancesFriday, 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 KuwaitThursday, 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'sTuesday, 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 MPMonday, 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 TomorrowFriday, 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 KuwaitThursday, 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 IndiaWednesday, 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'sTuesday, 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 IndiaTuesday, 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 BangaloreMonday, 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 InvestmentMonday, 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 IndiaSaturday, 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 ProcessFriday, 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 USAThursday, 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 JanuaryWednesday, 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 2008Tuesday, 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'sMonday, 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 InvestmentFriday, 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 RetailThursday, 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 MuseumWednesday, 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 EntryTuesday, 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 GujaratMonday, 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 SchemesSaturday, 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 investmentThursday, December 20, 2007: Mint Homes, the US-based Rs 300- crore real estate development and construction group, promoted by a non-resident Indian, plans to invest Rs 100 crore in high class housing, resorts, eco tourism and integrated organic farms in Coimbatore.
Wednesday, December 19, 2007: Maars Software International,a key player
in enterprise resource planning (ERP) solutions, client server applications,
GUI frontends, CRM and eBusiness solutions had unveiled its plans to step
into real estate business in India with joint ventures to develop residential
and commercial complex with Rs 20 billion project cost.