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Mumbai-based realty portal may sell or form JV with MagicBricks or Quikr

1 Comment   |   November 13, 2014    12:49am   |Contributed by Indian Realty News

NEW DELHI: People Group, which owns and operates real estate portal, has entered into talks with potential buyers, to sell the venture, at a time when the country’s online property space is being seen as the next battleground for global risk capital and strategic investors. MagicBricks. com and online web and mobile classifieds company Quikr are among those believed to have held early-stage discussions with the promoters of, according to two sources with direct knowledge of the developments. A potential transaction could see promoters of Mumbai-based venture, either outright sell its entire stake, or enter into a joint venture with a new backer, which could see the promoters […] read more »

Ahmedabad metro to push city’s real estate market

Add comment   |   November 13, 2014    12:46am   |Contributed by Indian Realty News

Apart from a suitable budget and a strategic location, physical infrastructure also plays an important roll in the decision of buying a property. The approval for the Ahmedabad Metro Rail Project Phase-1 is expected to lift the real estate market of the city. The metro phase 1 stretch covers two corridors – the North-South corridor starting from APMC, Vasna to Motera Stadium followed by the East-West corridor starting from Thaltej Gam to Vastral Gam. If you are planning to buy a house in Ahmedabad, then localities near the upcoming Ahmedabad to Gandhinagar metro belt can be considered for good returns. “In almost all metropolitan cities across India, investing near the […] read more »

Wells Fargo’s former India realty investment team launching residential funds

1 Comment   |   November 13, 2014    12:43am   |Contributed by Indian Realty News

Capitedge India Investment Advisory, a realty fund and asset management firm floated by six former members of Indian realty team of American banking giant Wells Fargo, is coming out with a residential properties-focused fund in India. This would mark its first fresh fundraising exercise after floating an independent investment advisory firm, which is also managing the remaining assets of Wells Fargo after it shut operations in the country last year. While the founding partners are closely associated in operations, Hiral Soni is driving the domestic fundraise and investment strategy, as per the company website. She was previously with Marvel Realtors and had later also set up a boutique investment banking […] read more »

Bangalore honchos on property-buying spree in the US

Add comment   |   November 11, 2014    11:21pm   |Contributed by Indian Realty News

BANGALORE: The investments by Indians (those with Indian passports) in residential property in the United States rose by nearly 50% to $5.8 billion in the year ended March 2014, compared to the year before. Real estate analysts say top executives in Bangalore’s technology industry, many of who have a close connect with the US, are among the biggest spenders. Indians constitute the third biggest overseas community to buy property in the US, as per data shared by the National Association of Realtors (NAR), US. Chinese buyers topped, investing a staggering $22 billion, a growth of 80% over the previous year, followed by Canada. UK residents bought as much as Indians, […] read more »

Relaxed foreign investment rules will help Indian realtors

3 Comments   |   November 11, 2014    11:20pm   |Contributed by Indian Realty News

The relaxation of rules on foreign direct investments into India’s property development sector, will improve developers’ liquidity and speed-up project-turnaround times, but may also increase competition, says Fitch Ratings. Fitch Ratings says that, the relaxation of rules on foreign direct investments into India’s property development sector, will improve developers’ liquidity and speed-up project-turnaround times, but may also increase competition, says Fitch Ratings. The Government of India approved the amendment of existing rules on 29 October. Key amendments include allowing foreign developers to invest in smaller property development projects – with a minimum floor area of 20,000 square meters (sqm), compared to 50,000 sqm previously . The minimum foreign-investment threshold was […] read more »

Easier FDI in real estate means govt is inflating India’s urban housing bubble

2 Comments   |   November 11, 2014    11:18pm   |Contributed by Indian Realty News

India’s relaxed rules for foreign direct investment (FDI) in construction will make it easier for foreigners to invest in real estate. While the move has surely been cheered by the real estate sector, for it will bring in much needed capital for those steeped in debt, it could bring more pain for home buyers. Reason: more foreign money in realty means higher property prices. Simple demand-supply logic. Current urban realty prices represent affordability for a microscopic few, while the average home buyer will have to exchange 20-30 years of future earnings to afford a house. Under earlier rules, the government allowed 100 percent FDI in real estate development but with […] read more »

‘By March, $10 billion of real estate investment trusts may get listed if Govt provides tax relief’

Add comment   |   November 11, 2014    11:15pm   |Contributed by Indian Realty News

Alastair Hughes, CEO (Asia Pacific) of Jones Lang LaSalle (JLL), who was in Bangalore to hold a board meeting of the Asia Pacific region comprising China, Japan, Australia, South East Asia and India, spoke to BusinessLine to share the real estate market sentiment and key issues on corporate leasing. How is the realty market in India as compared to other countries in Asia Pacific ? India has seen a dramatic recovery. The hangover did not last very long as it had in 2010-2011. The market is very dynamic here right now. While Asia-Pacific began to recover in 2012-2013, India went through a lull, largely due to lack of business confidence, […] read more »

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