It proposes to set up a regulator in every state.
Real estate is a sector which generates second highest employment and contributes approximately 5% of the GDP of the country.
It is the fastest growing sector with ever growing concerns.
As per its approved Financial Restructuring Plan, Air India is required to raise Rs 5,000 crore over a period of 10 years through asset monetisation
This year's Budget comes at a time when interest rates are still high and demand for real estate has remained poor.
It is expected that the global real estate market will see some major improvements in the latter half of the year.
In the second part of this series that identifies fastest emerging real estate hotspots in India, Estatelister.com explains why Kharadi, close to Pune Airport in Maharashtra, is emerging as a new investment hub.
Analysts recommend being selective in picking stocks.
On the evidence so far, however, these steps have not improved the scale of transactions in the real estate market. Most buyers continue to hold back in the hope of further drops in prices, while developers find that financial succour gives them the staying power to withhold price cuts. The result may, therefore, prove to be the opposite of what was intended, by delaying the price adjustment that is essential if demand and supply are to balance once again.
As the global economy limps into 2009, barometers for the real estate industry are bleak.
Sanjay Gupta, a 1988-batch IAS officer, has been appointed as the chief secretary of Himachal Pradesh amidst allegations of corruption, sparking controversy and criticism from opposition parties.
This year there are high expectations for lowering home loan interest rates, over the next 12 months and increased interest rate subsidy for loans up to Rs 50 lakh.
Run and do not look back when you see these real estate code words
India's biggest listed developer, DLF, and Dubai's Nakheel have announced a joint venture with plans to invest more than $10bn to build two townships on 40,000 acres.
Escalating geopolitical tensions in West Asia are prompting investors with exposure to Dubai's real estate market to reassess their portfolios. And, in this rejig, India is emerging as a stable destination for capital investment and long-term growth.
India's leading conglomerates are stepping up investments in real estate, recasting what was once a peripheral activity into a core growth driver. Supported by strong balance sheets, established brands and access to long-term capital, major business houses including Aditya Birla, Tata, Godrej, L&T, Raymond, Wadia, Shapoorji Pallonji, Mahindra and Adani are positioning realty as a strategic pillar within their diversified portfolios.
The move to delink the FDI provisions from investments by foreign institutional investors in real estate under the portfolio investment scheme was expected to lead to greater stock market play in real estate scrips. Government sources said the clarification was not mentioned in the minutes of the Cabinet meeting sent to the Department of Industrial Policy and Promotion recently. As a consequence, a press note could not be issued.
The Enforcement Directorate (ED) conducted searches at multiple locations in Punjab and Chandigarh, including premises linked to an alleged associate of a Punjab Aam Aadmi Party functionary, as part of a money laundering probe against two realty groups accused of fraudulent land use changes and investor fraud.
India is ranked as the fifth most attractive destination for future real estate investments, according to a latest report of FCCI and Ernst and Young.
A sustained two-digit average rate of return on capital accrued by developers is indicative of India's "build" momentum
Mukesh Ambani has big plans for his real estate biz and is currently in the process of recruiting large number of professionals for it.
The real estate sector has underperformed the Sensex in the past 2 years.
If the government tries to bring in real estate under GST now, it will be a typical case of biting more than what one can chew, says Sukumar Mukhopadhyay.
These are some of the most expensive real estate markets in the world.
Ten cities investors will target in 2009.
At a time when capital allocations to real estate are growing globally, investors are expecting transparency standards in real estate to be at par with other asset classes, says Anuj Puri.
The Enforcement Directorate conducted searches at premises linked to Punjab industries minister Sanjeev Arora as part of a FEMA probe into alleged foreign exchange violations, insider trading, and round-tripping of funds.
India, the world's fourth largest economy with 1.2 billion people, has steadily emerged as one of the most preferred destinations for global business.
Arvind SmartSpaces Ltd has partnered with Sigma Oxford Realtors to develop a residential housing project in Goregaon, Mumbai, with an expected revenue of Rs 2,400 crore.
Money invested in real estate, for income and capital growth, provides stable and predictable returns similar to bonds offering a regular return on investment, if the property is rented, as well as capital appreciation.
Avoid builders with very large commitments.
In a chat with readers on June 24, Tushar Bungley of 100floors.com said that real estate prices are unlikely to fall further.
Banks may be claiming that they are pruning their real estate exposure but data from the Reserve Bank of India (RBI) paints a completely different picture.
Information technology giant, IBM has enlarged its business scope in China's booming IT market by officially entering the local real estate segment for the first time in the company's history, a report said on Monday.
Between 2004-05 and 2007-08, FDI in services leapfrogged to $6.61 billion from $444 million, an official statement said. The real estate sector which was thrown open in 2004-05 saw the FDI picking up slowly in the initial two years, but grew substantially in 2007-08 to $2.17 billion.
Housing sales fell 6 per cent in April-June to 90,715 units across seven major cities on subdued demand amid economic uncertainties and also rising home prices, according to Anarock data released on Monday. As many as 96,285 units were sold in the year-ago period across the top seven cities -- Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, Bengaluru, Hyderabad, Chennai and Kolkata.
Making a presentation on Indian Real Estate Sector: Slumdog or Millionaire at an event hosted by the Observer Research Foundation, Sameer Nayar, managing director and head of real estate (Asia Pacific), Credit Suisse, said that land use laws in India are the most antiquated.
Over $4 billion belonging to various global realty funds is ready to enter the Indian real estate sector on the back of $1 billion which has already come in, according to Bobby Parikh, managing partner, BMR & Associates.
