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Fear of Recession in Europe Draws NRI Investment in India

Posted: 10 Jun 2010 11:39 PM PDT

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 (non-resident Indians) to repatriate their savings to Indian assets, the most favoured being real estate, closely followed by equities and high-coupon debt. According [...]

HCC Divests 74 per cent of its Stake in its Commercial Real Estate Project in Mumbai

Posted: 10 Jun 2010 11:36 PM PDT

Hindustan Construction Company (HCC) has demonstrated its ability to monetise its commercial project at a time when the commercial real estate market in India is still not out of the woods. The company, on Thursday, announced divesting 74 per cent of its stake in its commercial real estate project in Mumbai called '247 Park’ to [...]

MCHI Receives Cheering Response from13th India Realty Expo 2010 held in Dubai

Posted: 10 Jun 2010 10:42 PM PDT

"India Realty Expo 2010 held in Dubai achieved great success this year, since most of the exhibitors were offering ready properties or possessions between 3-6 months. Maharashtra Chamber of Housing Industry (MCHI), the most prominent body of real estate builders and developers in India has received a cheering response to their '13th India Realty Expo [...]

RBI Revises Norms for Urban Cooperative Banks

Posted: 10 Jun 2010 07:50 PM PDT

Reserve Bank of India has revised the norms for urban cooperative banks for giving loans to the housing and real estate (RE) segment. Working capital loans to small contractors against hypothecation of construction material are exempted from the existing norms that allows UCBs to use 15 per cent of the total deposits for giving loans [...]

DLF Looking to End Year with Operating Cash Surplus of Rs 2,500 crore

Posted: 10 Jun 2010 03:53 PM PDT

DLF Ltd, the largest real estate developer in the country by market capitalisation, is looking to end the year with operating cash surplus of Rs 2,500 crore, as it looks to raise Rs 2,700 crore through non-core asset sales and healthy cash flows. According to a report published in DNA, the developer is also looking at [...]

No clarity yet on sops to SEZs in direct taxes code

Posted: 10 Jun 2010 03:01 PM PDT

Even as Larsen and Toubro withdrew its proposal for an IT/ITeS Special Economic Zone (SEZ) citing uncertainty in tax treatment towards SEZs in the Direct Taxes Code (DTC), the Commerce Ministry has said the Finance Ministry is yet to consult it on the continuity of fiscal sops in the DTC to these tax-free zones. "We have [...]

Global Economic Recovery May Bring Back Luxury Retail Rents

Posted: 10 Jun 2010 02:59 PM PDT

Luxury retail rents may soon “bounce back” after two years of declines as the global economic recovery fuels demand for designer handbags, watches and clothes, Colliers International said. Rents fell in most of the world’s costliest shopping streets in the first quarter from a year earlier, according to a report published by the Seattle-based property broker. [...]

Real estate sector valuations still high

Posted: 10 Jun 2010 02:57 PM PDT

Market regulator Securities and Exchange Board of India's new ruling requiring listed companies to have a free-float of 25 per cent could hit realty stocks. Several big companies such as DLF Ltd and Puravankara Projects and Constructions Ltd have a public shareholding of less than 25 per cent. Realty firms also need large doses of [...]

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