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  • FDI in real estate sector to touch $25 billion.
Publication: The Hindu, New Delhi.
Date: August 8, 2008
Synopsis: Despite the real estate market confronting with a temporary depression with real interest rates hovering between 12 per cent and 16 per cent, an industry body has projected that foreign direct investment (FDI) element in the real estate market would increase by about $21 billion to touch $25 billion in the next ten years.
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  • Properties: Ground Realities.
Publication: Business Standard, Mumbai.
Date: August 8, 2008
Synopsis: Operating margins for real estate companies have been under pressure. Realty stocks have taken a beating this year. While the BSE Sensex is down around 26 per cent, the BSE realty index has lost nearly 57 per cent. Some of the stocks have recovered from their lows, but the performance of the sector in the quarter ending June 2008 has been nothing to write home about.
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  • Rising interest rates hit home sales hard.
Publication: Business Standard, Mumbai.
Date: August 8, 2008
Synopsis: Property developers, consultants and brokers have seen a 40 per cent decline in enquiries from home buyers over the last three months. With home-buyers postponing their purchases owing to higher interest rates and increase in equated monthly installments, the slowdown in the real estate market is getting deeper.
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  • Double whammy for high-end luxury realty market.
Publication: Economic Times, New Delhi.
Date: April 24, 2008
Synopsis: The high-end luxury real estate market is facing a double whammy. The demand from domestic buyers has already dried down and now even non-resident Indians (NRIs), who constituted a significant market for luxury real estate developers, are developing cold feet.
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  • Concept of service apartments catching up in Pune.
Publication: Hindu Business Line, Pune.
Date: March 24, 2008
Synopsis: Alongside residential and commercial complexes that are dotting the Pune landscape, the concept of service apartments is soon catching up as well. The requirement for service apartments came up because of the floating Pune population.
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  • New guidelines for FDI duck real estate.
Publication: Business Standard, New Delhi.
Date: March 13, 2008
Synopsis: The government has issued guidelines on big-ticket changes to the foreign direct investment (FDI) norms that were approved by the Union Cabinet on January 30. It, however, remained silent on clarifying a change in norms for FDI in real estate, possibly due to fear of greater capital inflows.
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  • Airport hotels in Delhi likely to miss Nov 2010 target.
Publication: Mint, New Delhi.
Date: February 07, 2008
Synopsis: Some 2,500 hotel rooms to be built on Delhi airport land by the winter of 2010 by a GMR Infrastructure Ltd-led consortium is likely to be a casualty of a deal between the Centre and the airport developer to shelve a plan to finance construction through deposits against lease rights.
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  • DDA unveils sample flat for Commonwealth Games.
Publication: Hindu, New Delhi.
Date: January 28, 2008
Synopsis: Providing a glimpse of one of its first works for the Commonwealth Games in 2010, the Delhi Development Authority on Sunday unveiled a model of the first sample flat to be built in the Commonwealth Games Village on the Yamuna riverbed. The three-bedroom sample flat with a modern compact design consists of separate balconies attached to bedrooms and a separate servant quarter along.
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  • Postal Department considering commercial use of real estate.
Publication: Economic Times, New Delhi.
Date: January 24, 2008
Synopsis: Reeling under acute financial pressure, the Postal Department is exploring new areas of revenue including commercial use of huge real estate at its disposal to guard against any debt trap.
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  • L&T Urban plans Township in Chennai.
Publication: Business Standard, Chennai.
Date: January 22, 2008
Synopsis: L&T Urban Infrastructure Ltd, Dinesh Ranka Associates and Mauritius-based private equity fund Pragnya Fund 1 have come together to launch an integrated township project off Old Mahabalipuram Road (OMR), the IT corridor of Chennai, at an estimated cost of Rs 1,200 crore.
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  • Lanka looking for investment in Budget Hotels.
Publication: Hindu Business Line, New Delhi.
Date: December 18, 2007
Synopsis: Sri Lanka is looking for investments from Indian hotel chains for setting up budget hotels there. According to provisional estimates, during 2006, India received 1,54,813 tourists from Sri Lanka.
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  • India's hot property market is likely to cool soon: Kamath
Publication: Economic Times, Malaysia.
Date: December 05, 2007
Synopsis: India's heated property market is likely to cool in 2008, top banker KV. Kamath has said in a forecast that could give pause to domestic and foreign investors, who have poured billions of dollars (euros) into the country's real estate.
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  • DIPP faces finmin roadblock over lock-in for FIIs in real estate companies.
Publication: Economic Times, New Delhi.
Date: November 6, 2007
Synopsis: The Department of Industrial Policy and Promotion’s proposal on FII investment in realty is all set to face opposition from the finance ministry when the Cabinet considers it for approval. DIPP in a note to the Cabinet has proposed that pre-IPO placement to FIIs should not be subject to the three-year lock-in applicable to foreign direct investment in the sector.
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