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Indian Property News on 'February, 2008'


Indiabulls Real Estate Shares Rise by 4%

Add comment   |  February 8, 2008

With the recent acquisition of Catherine Builders and Developers by Indiabulls subsidiary Indiabulls Infrastructure, shares of Indiabulls Real Estate has gone up by 4%. Indiabulls has acquired Catherine Builders and Developers from DLF Home Developers.

Catherine Builders owns 50 per cent stake in Kenneth Builders & Developers, which won at the auction by DDA to develop a residential project on 35.8 acres of land located at Tehkhand in South Delhi. Read More »



Indiabulls Real Estate Acquires Catherine Builders and Developers Pvt Ltd

Add comment   |  February 7, 2008

Indiabulls Infrastructure Ltd has got hold of Catherine Builders and Developers Pvt Ltd from DLF Home Developers Ltd, as said by Indiabulls Real Estate Pvt Ltd.

Catherine which has a 50 per cent stake in Kenneth Builders & Developers Pvt Ltd had earlier acquired a bid to develop a residential project in New Delhi. Read More »



Indiabulls Real Estate Trust Plans Raise $1.2 Billion through IPO

Add comment   |  February 6, 2008

Indiabulls Real Estate Ltd, India’s fourth biggest property developer as far as market value is concerned plans to rise about $1.2 billion through an IPO of a trust in Singapore. The information was revealed by two close associates of the sale.

India Bulls Real Estate Ltd, partly owned by Goldman Sachs Group Inc. and Merrill Lynch & Co will sell shares in a proposed investment trust to be listed on the Singapore exchange, the company said in a filing to the Bombay Stock Exchange yesterday. Indiabulls Properties Investment Trust will acquire two properties in Mumbai being developed by two of the company’s units, the statement said. Singapore exchange granted Indiabulls Real Estate eligibility to list on Feb. 5, the statement added. Read More »



Real Estate Industry Demands Tax Relief

Add comment   |  February 6, 2008

India’s second largest employment generating industry post agriculture, Real Estate, is keenly awaiting the Union Budget with a list of expectations. This expectation list chiefly comprises key issues like simplification of income tax structure, reduction in service tax and clarifications in the FDI-related issues.

The FM’s policy announcements will be a key factor in the industries plans in relation to sectoral concepts such as rental housing, and real estate investment trusts (REITs) to make housing more affordable for common man and help the industry raise more funds. The Confederation of Real Estate Developers’ Association of India (CREDAI), has demanded a complete restructuring of income-tax provisions currently governing the real estate sector. Read More »



RBI’s Firm Stand on Rate Cut Bound to Affect Real Estate Sector

Add comment   |  February 5, 2008

The Reserve Bank of India’s (RBI) third-quarter monetary policy review is not a good news for already sagging real estate sector. There is no change in key interest rates which means that buying a house remains a difficult task.

Sardonically, the review comes at a time when the property market has already been witnessing fewer sales even in some of the top cities. However, some positive measures like HDFC’s recent reduction of 25 basis points in the prime lending rate for home loans, is no doubt, a move which is bound to help borrowers. Read More »



India Gets Limelight in Global Real Estate Meet

Add comment   |  February 5, 2008

Following the resounding success of the inaugural Cityscape India event, Cityscape - the world’s largest business-to-business real estate brand is all set to come back to Mumbai this year.

The event got a tremendous response, more than 5,000 participants from 38 different countries marked their presence. Over 80 exhibitors showcased their projects and expertise at the inaugural Cityscape India 2007 which took place at the Bombay Exhibition Centre in November. Top Indian and international property developers and investors will descend on the same venue for the 2008 event which will take place from 8 - 10 December.

India’s Real Estate Market is forecast to be worth $50 billion by 2010 and the inaugural Cityscape India attracted thousands of participants representing a “Who’s Who” of the Indian property sector, to the delight of exhibitors. Read More »



Dream Come True for Investors- Promises Emaar MGF

Add comment   |  February 4, 2008

Emaar MGF’s issue have received a mix bag of response from the experts, with some saying avoid others recommend it as a good investment option. The company was forced to revise downwards the price band from earlier Rs 610-690 to Rs 540-630.

Emaar MGf, one of the leading names in Real Estate have a market capitalization of Rs 62114 crore on upper band of Rs 630 ranks second only to DLF Ltd in realty pack. The company is getting into the capital market through its public issue, which opened on February 1 and closes on February 6, 2008. Read More »



Removal of Tax Sops for SEZ’s

Add comment   |  February 3, 2008

The Empowered Group of Ministers (eGoM), under the Chairmanship of the Union External Affairs Minister, Mr. Pranab Mukherjee, is meeting here on February 4 to examine the merit of the Finance Ministry’s plea for removing a slew of tax exemptions provided to the Special Economic Zone (SEZ) and their developers.

Sources in the Government told that the Finance Ministry has drawn the attention of the eGoM on the revenue loss on account of tax exemptions to units in SEZs which has been estimated to be Rs 1,02,621 crore for the period 2006-07 to 2009-10. Out of this, the revenue loss due to direct taxes is reckoned to be Rs 53,740 crore and on account of indirect taxes Rs 48,881 crore. Read More »



India Ranks Third in Real Estate Returns after US and China

Add comment   |  February 1, 2008

An annual survey report by the Association of Foreign Investors in Real Estate (AFIRE) revealed that US real estate continues to top the global property market stakes among foreign investors, while Chian and India hold the second and third position respectively.

There is a message in the findings because Washington-headquartered AFIRE always gets it straight from the horse’s mouth — nearly 200 of its members collectively hold $700 billion in cross-border real estate. Read More »



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