Government keen to clean realty deals
The government is keen to clean realty deals and wants to crack down on money laundering. It wants a closer look at the real estate market, widely perceived to be the biggest sink of black money in India.
The government is keen to clean realty deals and wants to crack down on money laundering. It wants a closer look at the real estate market, widely perceived to be the biggest sink of black money in India.
While the real estate market in India is far from satisfactory, a section of real estate developers are exploring opportunities in neighboring nations including Sri Lanka and Bangladesh as the governments, seeking to boost economic growth, are providing incentives to develop infrastructure.
When 80 years old Ramakant Apte in California read what filmmaker Karan Johar said about his birthplace Bandra as the new heart of the city, he got so nostalgic that India visit in general and moving around his good old queen of suburbs in particular was his wish list number one.
Demand for commercial office space across the seven major cities in India is estimated at around 160 mn sq ft by 2014, a latest study by real-estate services firm Cushman and Wakefield Research (CWR) said.
Banks have experienced strong demand for loans from the real estate sector and non-banking finance companies (NBFCs) during the year till February, shows the latest data released by the Reserve Bank of India.
According to the 2010 census, Mumbai now houses around 14 million people, which makes it India’s most populous city and the world’s second-most populous city.
The demand for commercial property in the country is expected to remain robust in the first half of 2011, boosted by strong manufacturing activities, says a survey by RICS India Commercial Property Survey.
Indians are emerging as among the most active buyers of property in Britain, according to a report in local British media.
Dubai International Financial Centre (DIFC) and Absalon Project, a joint venture between affiliates of VP Securities and Soros Fund Management, have launched a feasibility study for a mortgage system in the UAE, based on the principles of the Danish Mortgage Model.
Real estate has emerged as the most preferred investment avenue for working professionals in non-metro centres vis-à-vis bullion and stock market.