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TCIL Plans Exit from Real Estate Business

Posted: 31 Aug 2010 04:06 AM PDT

Transport Corporation of India (TCIL) will demerge its real estate and warehousing divisions in next three months and expects to create greater value for shareholders through the hive-off. After the demerger, the company would focus on the core activity of providing logistic services, according to a report published in Financial Express. "Our board approved the [...]

Realtors Express Satisfaction on Tax Exemption in Housing Loan Segment

Posted: 31 Aug 2010 04:03 AM PDT

Realty firms and consultants have expressed satisfaction on the proposal to retain income tax exemption on interest up to Rs 1.5 lakh a year on housing loan, but said the government needs to enhance the limit. “It is a very good thing that the government has retained the exemption. It will have a feel-good sentiment [...]
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Property News from IndianRealtyNews

Property News from IndianRealtyNews

Link to India Properties - Real Estate India - Indian Property News Site

Consumer Affairs Ministry Gives Green Signal to 49% FDI in Multi-Brand Retail

Posted: 30 Aug 2010 03:02 AM PDT

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 and 51 per cent in single-brand retailing. Foreign investors are barred from investing in multi-brand [...]

Hoteliers Planning to Increase Room Tariff by 10-15%

Posted: 30 Aug 2010 01:52 AM PDT

In an attempt to cash in on the peak winter season and the improved economic scenario, “Hoteliers are planning to increase the average room rates (ARRs) by 10-15 per cent from September 2010 as they expect tourist traffic to improve,” says a report by domestic brokerage Angel Broking. Although, the report didn’t talk about their [...]

State Govt Prohibits Use of Petrol Pump Land for Real Estate Purpose in Mumbai

Posted: 30 Aug 2010 12:21 AM PDT

Fascinated by the lure of real estate, owners of fuel refilling centres in the city have long started dreaming of giving up their current business and jumping into the land development bandwagon. Some of them, in fact, have already got the civic body's permission to change the usage of the land. However, the state government [...]

6 Chennai Projects Get Top Ratings from CRISIL

Posted: 30 Aug 2010 12:15 AM PDT

Six real estate projects in Chennai have got top ratings from Crisil, which has, for the first time, has come out with a product to provide city-specific all round assessment of real estate projects. Addressing a gathering got up to announce the award of 7-Star rating to Abode Valley and 6-Star rating to Central Park [...]
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Property News from IndianRealtyNews

Property News from IndianRealtyNews

Link to India Properties - Real Estate India - Indian Property News Site

Global Commercial Real Estate to Touch $300-bn Mark

Posted: 27 Aug 2010 12:16 AM PDT

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. According to the report by global real estate services firm Jones Lang LaSalle, the first half of 2010 saw investment worth $130 billion in [...]

Amidst Global Uncertainty JP Morgan Positive on India

Posted: 26 Aug 2010 11:58 PM PDT

JP Morgan is positive on India despite the global environment being quite uncertain, JP Morgan Asset Management’s Investment Manager and India Country Specialist, Rukhshad Shroff, told reporters here. JP Morgan Asset Management is a leading global asset management company providing world-class investment solutions to clients. “We are positive on emerging markets. We remain very positive [...]

Godrej to Fully Focus on its Property Arm

Posted: 26 Aug 2010 11:52 PM PDT

The $2.5-billion Godrej group plans to make its property development arm Godrej Properties (GPL) the largest business within the group in 5-10 years. “This is the fastest growing and capital intensive business and does not entail competitive pressures as other businesses have. In turn, most of this company’s growth will be from the affordable housing [...]
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