NRI Real Estate and Property Investment in India
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October 2007 | Top Stories

Unprecedented realty boom in Himachal Pradesh
Monday, October 29, 2007 : Owning a home in tourist destinations like Shimla and industrial towns like Baddi are now coming true, even as the state government is bestowing special relaxations to real estate developers in India.

HSBC opens NRI office to facilitate cross-border transaction
Monday, October 26, 2007 : HSBC with a formidable global reach and network has added a new feather to its cap. It has opened a Non-Resident Indian (NRI) representative office of the Hong Kong and Shanghai Banking Corporation Limited in India (HSBC India) in Fremont, California .

Protego to launch a $400 mn Indian office fund
Friday, October 26, 2007 : British investment management group Protego Real Estate Investors LLP has announced that it hopes to raise up to $400 million of equity to launch a speculative Indian office development fund called the ‘Protego WIRE Indian Office Development Fund.’

Indian Realty Sector can perform better, indicates study
Friday, October 26, 2007 : Real estate India has a multiplier effect on income and employment. As indicated by a HUDCO-IIM Ahmedabad study, every rupee invested in this sector adds 78 paisa to the state's GDE.

RBI suggests restrictions on P-notes
Thursday, October 25, 2007 : Maintaining its stance on participatory notes (P-notes), the Reserve Bank of India (RBI)has sent in a note to the finance ministry on the eve of the Securities and Exchange Board of India’s (Sebi’s) board meeting to decide on restrictions for P-notes. The central bank has suggested a complete ban on P-notes.

Hooda’s visit brings in impressive investment
Thursday, October 25, 2007 : Haryana’s Chief Minister Bhupinder Singh Hooda’s visit to USA and Canada has invited Rs 3750 crore investment from these countries. The delegation led by him visited USA, Canada and Germany from October 8 to 20, 2007.

RBI up in arms against automatic FDI in realty
Wednesday, October 24, 2007 : Rising foreign fund inflows in the Indian real estate sector has the Central Bank worried which has led it to ask the government to allow FDI into the sector only after the clearance from Foreign Investment Promotion Board (FIPB).

Emerging Indian Cities among the fastest growing cities in the world
Wednesday, October 24, 2007 : The current economic growth in India has spearheaded the new phenomena of the dramatic shift in population to urban centres. 11 Indian cities figure in the 100 fastest growing cities in the world.

LIC Joins Indian Real Estate Bandwagon
Tuesday, October 23, 2007 : The latest to join the Indian real estate bandwagon is the giant Life Insurance Corporation of India, as it recently outbid other realty players in purchasing large tracts of land across the country.

Remittances from Indians abroad push India to the top
Monday, October 22, 2007 : India has pipped China and Mexico to become the top remittance receiving country in the world, as the latest data released by the World Bank corroborate.

Haryana CM promotes NRI investing in the State
Monday, October 22, 2007 : Haryana Chief Minister Bhupinder Singh Hooda has taken active step in wooing NRIs to invest in the state, while also considering preferential treatment in allotment of land and other fiscal incentives for NRI realty investment.

Delay in Realty Projects: A Regular Phenomenon in West Bengal
Friday, October 19, 2007 : Property prices in Kolkata are going through roof. Bureaucracy and red tape are to be blamed which ensures a delay in real estate projects and a high surge in property prices.

ETA Star to launch Projects in Bangalore
Thursday, October 18, 2007 : UAE based real estate developer ETA Star is all set to enter into Indian real estate with a realty project in Bangalore in 2008.The company will bring the project on its land bank of 300 acres on the outskirts of Bangalore for the planned mixed use developments.

Citibank Sponsors IndiaHome Expo in Dubai
Wednesday, October 17, 2007 : Citibank, one of the largest full service banks in the world, is to fund the IndiaHome Property Exhibition to be organized by RNH Events Management FZ at Shangri-La Hotel on Shaikh Zayed Road, Dubai.

India Retail: Reliance forays into Consumer finance
Tuesday, October 16, 2007 : In what appears to be a big-ticket foray into the consumer finance space in India, Reliance Retail is entering into a joint venture (JV) with Citigroup for setting up a non-banking finance company (NBFC).

Loans against property: witnessing impressive credit offtake
Tuesday, October 16, 2007 : The State-owned, private sector and foreign banks in India are coming out with schemes that offer loans against property. Also called LAP schemes, it allows an individual or a business to acquire a loan against residential or commercial property in India and use it for a variety of purposes.

Morgan Stanley Moves to Tap HNIs and NRI Investors
Tuesday, October 09, 2007 : Non resident Indians and high net worth individuals would be the focus of Morgan Stanley’s expansion program for India. The Wall Street bank is planning to recruit 100 private bankers to manage assets worth USD1 billion by 2010.

Real Estate Developers Vie for Prime Kolkata Property
Tuesday, October 09, 2007 : While the real estate market in most metros appears to be cooling off, Kolkata continues to retain the interest of the big ticket developers.

New Players in Indian Real Estate
Monday,October 08, 2007 : Indian real estate has a host of new players – notable debutants include the Adani Enterprises and the royal Ghorpade family.

Govt. Initiates Steps against Pre-Launch Offers
Monday,October 08, 2007 : Pre-launch offers by Indian real estate developers are under a cloud, and the Ministry of Corporate Affairs is keeping tabs on such announcements ever since malpractices under the scheme came to light.

Plush Localities in Indian Metros Retain Lead
Monday,October 08, 2007 : While the debate on the real estate prices in India’s metros continues, plush residential colonies in India’s metros have maintained the steady increase in rates over the last 12 months.

Home Loans Made More Affordable by Wizard
Monday,October 08, 2007 : GE Money’s Wizard is chalking out a novel strategy based on a wealth-sharing plan to garner the huge home loan market in India through owner-operator branches, competitive pricing and customer oriented mortgage products.

DLF Seeks Foreign Pastures for Fresh Funds
Friday, October 05, 2007 : Indian real estate companies are looking for a fresh avenue of funds. DLF, India’s largest realty development company is seeking foreign pastures for another surge of capital to finance its various projects.

Govt. Approves 13 FDI Proposals
Friday, October 05, 2007 : A fresh round of approvals came in from the Finance Ministry, upon the recommendations of the Foreign Investment Promotion Board, for 13 proposals for foreign direct investment (FDI) in India, adding up to Rs.393.36 crore.

HSBC Realty Fund in the Offing
Friday, October 05, 2007 : HSBC is working on an India-specific real estate fund, with a target of USD 500-600 million. The London-based bank is planning to garner a share of the booming Indian real estate market, and HSBC’s realty fund would be its first India focused fund.

17 Emerging Corridors on Indian Real Estate Map
Thursday, October 04, 2007 : Top ranking destinations are Hinjewadi near Pune and Manesar near Gurgaon, scoring high on all parameters, says the report, with a promising future ahead. Their growth would continue to be sustained by the neighbouring towns.

MOIA calls for more NRI Investments in Indian Economy
Thursday, October 04, 2007 : The MOIA is eager to increase the interaction between India and its diaspora through the Overseas Citizenship of India scheme, the Overseas Indian Facilitation Centre, the Knowledge Network and the Global Foundation.

Royal Touch Added to Udaipur Real Estate Market
Thursday, October 04, 2007 : Real estate in Udaipur, Rajasthan will receive a boost with the launch of a royal township near the Umaid Bhavan Palace belonging to the royal family of Jodhpur.

Wider Access to Home Loans as More Banks Slash Rates
Thursday, October 04, 2007 : The bid to bring back customers for home loans is on, as more banks trim their loan rates. The latest to join the league are Allahabad Bank, Canara Bank and Central Bank.

MOIA Working on NRI University
Wednesday, October 03, 2007 : The Minister of Overseas Indian Affairs, Vyalar Ravi shared his ministry’s plans to set up a NRI university under the aegis of the Indira Gandhi National University.

NRI Deposits face the odds as Interest Rates Drop
Wednesday, October 03, 2007 : NRI deposits have received a setback following a drop in the interest rate and the weakening of the dollar against the Indian rupee.

Mumbai Real Estate Receives a Boost from Railways
Wednesday, October 03, 2007 : It was the defunct mill properties first, followed by Dharavi, and now it’s the railways. The city’s meagre land resources are slowly beginning to swell, as sprawling tracts of under-utilised land are being made available for real estate projects in Mumbai.

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