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Govt allows 100% FDI in construction

Add comment   |   October 30, 2014    08:54pm   |Contributed by Indian Realty News

In what may prove to be a major boost for Indian economy, the Union Government today decided to relax foreign direct investment (FDI) norms in the construction sector, allowing 100 per cent of foreign funds in building projects. The approval came at a Cabinet meeting, which was chaired by Prime Minister Narendra Modi, where the existing FDI policy on the “Construction Development Sector” was amended in line with the announcement made as part of the Union Budget earlier this year. After the meeting, the government said “100 per cent FDI under automatic route will be permitted in the construction development sector”. The Cabinet also cleared the proposal of the Department […] read more »

Consumer activism: Buoyed by social media and pro-consumer courts, homebuyers take on errant builders

Add comment   |   October 22, 2014    11:05pm   |Contributed by Indian Realty News

MUMBAI | NEW DELHI | KOLKATA: There was a time when anyone buying a home was at the mercy of the developer. Delays, shoddy construction, unjustified price increases — all had to be swallowed without protest. That seems to be changing, with at least some consumers who have sunk their life savings into buying a home succeeding in getting builders to behave better. “The real estate industry is no more a ‘seller’s market’ and is in fact a ‘buyer’s market’,” said veteran property lawyer Parimal Shroff of Parimal K Shroff & Co. “It is no more possible for a purchaser to rely upon the whims and fancies of the developer […] read more »

What’s stopping you from getting rich? Not bad luck, but faulty investing strategies

Add comment   |   October 22, 2014    08:51pm   |Contributed by Indian Realty News

You are a diligent saver, a careful investor and a meticulous planner. Yet, you have not been able to build wealth even as everyone around you seems to be wallowing in money. What’s stopping you from getting rich? If it’s bad luck, you can buy one of those good fortune charms hawked on late night TV shows. But if you really want to get to the root of the problem, you need to assess where you are going wrong in your investments. Our cover story this week is about the money myths and investing flaws that prevent you from getting rich. It could be the lure of penny stocks or […] read more »

Realty portals filling information gap for buyers

1 Comment   |   October 22, 2014    08:50pm   |Contributed by Indian Realty News

BANGALORE: When Sameer Rana was looking for a dream property last month, he was spoilt for options in the real estate market. Yet, the 44-year-old investment banker was not sure whether he had all the information to spend Rs 2 crore on an apartment. “Is the area safe? Are the nearby schools good? Will the builder give possession of the house on time? All such questions plundered my mind and I did not have the time to go through every property myself to decide,” Rana said, adding, “Brokers could not be trusted.” But now online start-ups, including, PropTiger, and CommonFloor, are setting up their own teams, data science labs […] read more »

Fears for tough penalties grow as India cleans up business

Add comment   |   October 22, 2014    08:49pm   |Contributed by Indian Realty News

MUMBAI (Reuters) – An unprecedented ban on India’s largest property developer from tapping capital markets has fuelled expectations of tougher penalties ahead, as the country’s regulators feel emboldened to take on even companies long sheltered by political connections. The result has been a slide over the past week in shares of firms known to be under investigation — adding to what was already a year-long weakness in the stocks of companies seen as tied to the Congress party, which was ousted from power in May. Cleaning up India’s grubby business climate is top of the agenda for both regulators and Prime Minister Narendra Modi’s government, which was elected in May […] read more »

Canada offers to partner India in ‘housing for all’

Add comment   |   October 15, 2014    08:52pm   |Contributed by Indian Realty News

NEW DELHI: Canada today expressed interest in participating in India’s ambitious programmes of ‘Housing for All’ and building 100 ‘smart cities’ and offered its technology in this regard. The offer was made by visiting Canadian Minister of International Trade Ed Fast during his meeting with Urban Development and Housing and Urban Poverty Alleviation Minister Venkaiah Naidu here. Referring to the proposed scheme of ‘housing for all, Ed Fast highlighted Canada’s expertise in wood-based housing technology, including in multi-storied construction, which India can consider to meet its ambitious housing targets. Life span of such houses is about 60 years and is amenable for renewal, he told Naidu. Prime Minister Narendra Modi […] read more »

5 things to remember when buying a luxury property

Add comment   |   October 6, 2014    08:53pm   |Contributed by Indian Realty News

Shambhu Kumar, 42, a London-based IT professional, is keen to buy a luxury property in Gurgaon, Bangalore or Pune. Since the amount of money at stake is high, Kumar is keen to learn about the factors to which he should give primacy in his search. Location, location, location Contrary to popular perception, experts suggest that more than the bells and whistles—the amenities and specifications—you should give primacy to location when hunting for a luxury property. As the adjacent table shows, the market for luxury apartments thrives in plush locations. “Often developers develop super-premium apartments at peripheral locations. Even though they provide very high-end facilities, the project fails to command the […] read more »

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