Chicago-based Vestian Global Workplace Services, an integrated real estate services provider has announced to invest Rs 1,500 crore in India and China over the next 18 months. The company, which raised the fund from global investors, said about 70 per cent of the proposed investment was earmarked for the Indian market.
The Reserve Bank of India has asked banks to put in place an escrow mechanism that can ring fence their loans to real estate firms and keep a closer tab on the end use of funds. The RBI has been looking to tighten the lending norms for the real estate sector after last year’s bribery-for-loan scam. The scandal also exposed several unethical practices, such as diversion of funds.
Bangalore continued to witness increased market activity in 4Q10. Transaction volumes have improved significantly compared to that in the previous quarter. The improvement in transaction activity can be attributed to the stabilising macroeconomic situation, positive business environment outlook and the strengthening domestic market conditions.
The world’s largest and Mumbai’s oldest Red Light District ‘Kamathipura’ known for its kothas that is brothels engaged in flesh trade is now turning golden with the increasing interest of the real estate developers there. Thanks to the Mumbai police that the increasing pressure on brothels under the Immoral Traffic Prevention Act have compelled the operators to shut the brothels and move to suburban area like Navi Mumbai for resettlement; making way for the real estate developers to plan out commercial complexes in the area.
Coldwell Banker UAE now offers a diverse portfolio of properties…
Rose Valley Real Estate and Construction Limited has filed a writ petition in the Calcutta high court, challenging the order of Securities and Exchange Board of India (SEBI) for virtually stopping its business. The case will come up for hearing in the court of Justice Jayanta Biswas on Thursday.
Jones Lang LaSalle today announced it has launched a website – Lease Accounting Changes, to deliver leading-edge strategies, tools, and information to help corporations worldwide navigate the upcoming changes in global lease accounting treatment.
There is a school of thought that states that you should buy a home as soon as you can afford it, or as soon as your home loan application is approved. In fact, the only question one tends to ask in context with home buying is whether property prices and interest rates are amenable at that point in time or not. On the surface, this makes sense. However, not all surfaces are reliable mirrors.
Gurgaon initially gained prominence as an outsourcing centre for major international companies that found it cheaper to locate their back-end operations in India due to the availability of high-quality but cost-effective employee resources. GE Capital initiated this trend and was the first multinational company to enter Gurgaon in 1997.
Om Chaudhary, CEO or Fire Capital Fund has a word of caution for Indian realty market and he believes that while there’s a huge hunger line for the realty, FII’s inflow can be a matter of concern since China is going to control the GDP.