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

Govt. to Establish Real Estate Regulator
Friday, September 28, 2007 : The move to regulate Indian real estate received an impetus with the Union Urban Development Minister announcing the setting up of a regulator for the redressal of grievances from consumers and builders.

Wizard Launches Home Loan Products in India
Thursday, September 27, 2007 : The Indian home loan market is astir with the entry of Wizard Home Loans from Australia. Wizard is a subsidiary of GE Money and has ambitious targets of figuring in the top 5 mortgage companies of India

Union Bank Joins Move to Cut Home Loan Rates
Thursday, September 27, 2007 : New home loans from Union Bank would be charged at a lower rate with immediate effect, depending on the size of the loan.

RBI Steps In to Check Rupee
Thursday, September 27, 2007 : In a measure taken to check the rupee’s rise, the Reserve Bank of India has liberalized norms for Indian companies, mutual funds and individuals to invest abroad.

Bangalore Real Estate faces Slowdown.....?
Wednesday, September 26, 2007 : Real estate consultants Cushman and Wakefield have alerted a deceleration in the Bangalore real estate market, especially in the residential property segment

Sundaram BNP Widens Investment Horizon for NRIs in Doha
Wednesday, September 26, 2007 : Doha Bank has entered into an agreement with Sundaram BNP Paribas Assets Management Company Ltd for the distribution of the company’s mutual fund schemes in Qatar.

Realty Firms Eye Capital Markets for Funds
Tuesday, September 25, 2007 : Vascon Engineers will dilute 10% or 35 lakh shares through an IPO by the end of the year, hoping to raise Rs.450 crore from the bourses. Merrill Lynch and Kotak Securities, the company’s merchant bankers, are working on a price band of Rs.1,000 to Rs.1,300 per share with a face value of Rs.10/-

NRIs in US Keen to Participate in India’s Progress
Tuesday, September 25, 2007 : The ongoing Indian festival in New York has enthralled audiences through its cultural and business sessions and evoked curiosity and a desire within the NRI community to participate actively in India’s growth.

HDFC May Slash Home Loan Rates
Monday, September 24, 2007 : There’s good news for those who have been waiting for interest rates to drop in order to purchase a property - HDFC is expected to lower its rates this week, following similar initiatives by Bank of Baroda and IDBI.

Biotech to Drive Indian Realty in Coming Years….
Monday, September 24, 2007 : As per a report prepared by real estate consultants Jones Lang LaSalle Meghraj, the biotechnology sector will drive the Indian real estate market in the coming years.

IT Fuels Real Estate Chandigarh
Monday, September 24, 2007 : The Indian real estate market and the IT industry are intertwined in a close knit relationship - with the entry of big IT players in any city, property prices go zooming. Pune, Nagpur, Chandigarh, Mohali, Jaipur, Kolkata, Indore….each has a success story to narrate.

High Lending Rates Affect Indian Real Estate
Friday, September 21, 2007 : Real estate companies and banks have been severely affected by the RBI’s diktat on high interest rates. Real estate majors admit to a sharp drop in bookings ever since ever since the lending rates were increased.

Defunct Mill Lands Add New Dimension to Pune’s Real Estate
Friday, September 21, 2007 : Factory premises in Pune’s Pimpri-Chinchwad would sport a different landscape in the next few years, as more and more of these are utilizing available space to residential and commercial projects

Rupee Breaks New Ground at 39.88 to a Dollar
Friday, September 21, 2007 : Breaking the Rs.40 to a dollar barrier for the first time since 1998, the Indian currency rose by 0.7% to touch 39.88 per dollar, spurred by the US Federal Reserve’s cut in the key interest rate.

Indian Property visits NRIs in Oman
Thursday, September 20, 2007 : NRIs in Oman would be privy to a host of new real estate projects coming up at the India Property Exhibition in Muscat on September 27 and 28, 2007.

New York to host 1st Overseas Pravasi Bharatiya Divas
Thursday, September 20, 2007 : New York will play host to the first overseas Pravasi Bharatiya Divas, as the India @ 60 festival unfurls later this week, displaying India’s economic progress through a series of events.

Promising Times for Indian Real Estate: FICCI Report
Tuesday, September 18, 2007 : As per the “FICCI – Ernst & Young Indian Real Estate Report, 2007: Growth & New Destinations”, Indian real estate is growing at a 30% rate, spreading evenly across India’s smaller towns and cities.

Register your Delhi Property without an Agent
Tuesday,September 18, 2007 : Investors in Delhi’s real estate market will be saved the harassment of registering their property with the aid of brokers, once the Delhi Government’s e-format goes online by the end of the year 2007.

CREDAI Conference Upbeat on Indian Real Estate
Tuesday, September 18, 2007 : The “Investment Environment & Funding Mechanisms in Real Estate Development” conference organized by the NCR chapter of the Confederation of Real Estate Developer’s Associations of India.

Glut in Commercial Properties May Affect Real Estate Prices
Friday, September 14, 2007 : Commercial properties in India are expected to drop in the next quarter, according to a report by real estate consultancy firm DTZ India.

MOIA withdraws ECRS; NRIs Welcome Decision
Friday, September 14, 2007 : The Ministry of Overseas Indian Affairs announced reforms on the Emigration Clearance Requirement Suspension (ECRS) covered under the Emigration Act of 1983.

Axis Bank Woos NRI Investors
Friday, September 14, 2007 : The re-branded Axis Bank is venturing into retail banking operations overseas, with an eye on managing the investments of NRIs.

Uppal Looks beyond Delhi Real Estate
Friday, September 14, 2007 : Delhi based Uppal Housing Ltd has announced its plans to invest Rs.1,500 crore in realty projects in Mumbai, Pune, Hyderabad and Tier II cities.

“Smart”Realty Project targets NRIs in Kerala
Thursday, September 13, 2007 : Kerala’s real estate market will see a new project take off next week in the vicinity of the Nedumbassery airport at Manjaapra. The Smart Village is being designed with the NRI customer in mind, offering apartments, villas and row houses on 55 acres of land.

NRI Workers to be Protected by MOIA’s Model Contract
Thursday, September 13, 2007 : The Ministry for Overseas Indian Affairs has finalized a model work contract for the benefit of overseas Indian workers. The model work contract would be binding on both the employee and the foreign employer, clarified the Minister holding the portfolio, Mr. Vyalar Ravi.

CREDAI-NCR Conference to Address Indian Real Estate Issues
Tuesday, September 11, 2007 : Indian real estate’s apex body, the Confederation of Real Estate Developer’s Associations of India, (CREDAI) will host a conference on “Investment Environment and Funding Mechanisms in Real Estate Development” in New Delhi on Friday, the 14th of September, 2007.

Foreign Funds Flood Indian Real Estate
Tuesday, September 11, 2007 : With the Indian real estate market generating waves in global financial circles, Indiareit hopes to cash in on the investment mood of global equity players with the launch of an offshore fund.

FII in Banks to Stay Within Prescribed Limits
Monday, September 10, 2007 : The Government has expressed its unwillingness to increase the foreign investment limit in banks, in spite of representations from public sector banks to raise the 20% ceiling.

CBOP tie-up with LKB targets NRIs from Kerala
Monday, September 10, 2007: The Centurion Bank of Punjab has announced major plans for the NRIs from Kerala after its merger with the Lord Krishna Bank recently.The bank is emerging as one of the leading private sector banks in India, and is a key player for retail foreign exchange offering an array of products for investors.

Surge of Foreign Funds in Indian Real Estate Expected
Friday, September 07, 2007 : Recently, Plaza Centers NV announced a Rs.50 billion investment in India, while Dubai’s Nakheel group committed USD 10 billion to Indian realty in a tie-up with DLF for residential projects in Tier I and II cities.

Mega-Township Projects in Gurgaon, Bangalore
Friday, September 07, 2007 : Mega-townships are enjoying the patronage of private developers and investors, and state governments are also actively promoting these self-contained zones. Recently, the Karnataka Government approved 11 integrated townships in Bangalore at an investment of Rs.25, 000 crore.

Trends in NRI Remittances
Friday, September 07, 2007 : The year 2005-06 saw an increase of 25% in NRI remittances over the previous year, taking the figure up to USD 25 billion, according to a Reserve Bank of India survey .

Doha Bank offers MFs to NRIs
Friday, September 07, 2007 : Doha Bank is planning to launch mutual funds in India in an arrangement with Investnet. The bank has acquired a 49% stake in Investnet and the company is undergoing a re-branding exercise, with the Doha Bank CEO taking over the reins as Chairman.

Domestic and Global Players Share India’s Retail Market
Friday, September 07, 2007 : Latest announcements from domestic and international players are adding to the retail boom driving India’s real estate market. Kshitij Investment Advisory, a division of the Future Group, plans to set up seven ‘market cities’ replete with shopping malls, food courts, serviced apartments, convention centres, multiplexes and residential complexes.

Bank of Baroda offers Respite in Home Loan Rate
Tuesday, September 04, 2007 :The growth of housing loans has been adversely affected by rising home loan rates. From a 29.1% growth rate in 2005-06, the rate is expected to drop to 17-20% by the end of the current fiscal, as per a study carried out by Assocham.

Indian Realty Getting Consolidated
Tuesday, September 04, 2007 : The company’s sources confirmed that requests from several small realty firms had been received and their proposals are being considered. Similarly, Ansal API has also been approached with similar offers, and recently concluded a deal in Ludhiana.

Amnesty Offer Extended for Illegal Workers in UAE
Tuesday, September 04, 2007 : The UAE Government has extended a three-month amnesty for illegal migrants in the kingdom, and a lakh of Indians would be availing of the scheme, as per latest reports.

India’s Hot Properties
Tuesday, September 04, 2007 : In the current scenario of high interest rates and uncertain real estate market conditions, consultants Jones Lang LaSalle Meghraj have recommended the best locations for investment in India’s metros.

Puravankara Pegged at a Discount
Tuesday, September 04, 2007 : After IVR Prime, Puravankara Projects is the second real estate company to be listed at a discount on the Stock Exchange. Against the issue price of Rs.400, the share was listed at Rs.310 on Thursday and closed at Rs.364.75, or a discount of 8.81%.

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