Paul Joseph

IndiaHomes to invest $10 mn, plans to acquire IT firm

by Paul Joseph February 6, 2012 Uncategorized

Real estate brokerage firm IndiaHomes today said it will invest $10 million over the next one year to foray into new areas and is scouting for an acquisition in the IT space to boost online transactions. The company, formerly known as Agni Property, today announced that it has re-branded itself as IndiaHomes. It said it is also planning to ramp up its headcount by over 65 per cent to 500 people in the next financial year. “Seeing the demand from the consumers, we are expanding very aggressively in India as our company is the first professionally managed realty brokerage firm. We are now investing an additional $10 million to foray

Tagged as: real estate, real estate india

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Set up an office at home, but check the legal and operational limits before doing so

by Paul Joseph February 6, 2012 Uncategorized

When 36-year-old Michael Fernandes, founder of product designing company, Marshalkraft, decided to lease an office in Mumbai, he was deterred by the exorbitant rents. “We needed a place for conducting meetings with our clients and handling back-end administrative work as our workshop was outside the city. However, we couldn’t decide on a suitable place as the commercial rentals were too high,” says Fernandes. His solution was to convert a flat he owns in Mumbai as his office, saving on the rent and, more importantly, cutting short the commuting time considerably. Though Fernandes had to invest about Rs 1 lakh on renovating the flat, including buying office equipment and changing the

Tagged as: real estate, real estate india

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Reserve Bank puts new clamp on home loans -Industry fears order to lenders to exclude stamp duty and other registration charges may hit market further

by Paul Joseph February 6, 2012 Uncategorized

Reserve Bank puts new clamp on home loans -Industry fears order to lenders to exclude stamp duty and other registration charges may hit market further The Reserve Bank of India’s latest notification to banks, to exclude stamp duty, registration and like charges while calculating the value of a property they intend to finance could lead to a further decline in home sales in the lower and medium segments, say developers and consultants. The notification effectively means home buyers would have to arrange for more funds on their own, as banks will not lend for these charges any more. “Home loan borrowers are already stretched…Property prices are high, interest rates have

Tagged as: home-loans, real estate

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Middle East eyes Gujarat’s realty market

by Paul Joseph February 6, 2012 Uncategorized

Ahmedabad: Investors of the United Arab Emirates (UAE) and some other countries of the Middle East, such as Oman and Jordan, are believed to be interested in investing in Gujarat’s real estate market. This is the perception of realtors from the state who were part of the 61-member delegation of Confederation of Real Estate Developers Associations of India (Credai), Gujarat Chapter, which recently visited several countries in the Middle East. The Gujarati realtors had gone on a seven-day tour of the Middle East to explore the possibility of attracting investment in the state from oil-rich Arab nations. The developers said investors from these countries are closely watching developments in the

Tagged as: ahmedabad, real estate

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Memoirs of a real estate tycoon

by Paul Joseph February 6, 2012 Uncategorized

DLF, the joke went, stood for Damn Lucky Fellow. Not without reason: its chairman, Kushal Pal Singh, has had five close brushes with death in his 81 years. Also because Singh is a rare phenomenon — a billionaire businessman from the Jat community. You will find his kinsmen as agriculturists, wrestlers and boxers, soldiers, bus drivers in Delhi Transport Corporation, cops on Delhi streets — but never in high business. Singh remains till date the only Jat to have ever made it to the Forbes’ List of Billionaires, a list dominated by Gujaratis, Marwaris and Banias. In popular lore, they are supposed to be strong and straightforward, and with a

Tagged as: real estate, real estate developers

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Panel for equal property rights among couples,Applicable To Live-In Partners Too

by Paul Joseph February 6, 2012 Uncategorized

New Delhi: A high-level government panel has suggested that all movable and immovable assets acquired by a married couple or a couple living together be classified as joint property, to be divided equitably in case of separation or desertion. The Planning Commission’s working group on Women’s Agency and Empowerment wants a comprehensive legislation — ‘Right to Marital Property Act’ — to be brought in, which would be applicable to all communities. The panel, which wants a complete relook at family laws, argued that all assets acquired by a couple should be viewed as joint property, regardless of who bought it. It said the law must recognize a woman as an

Tagged as: banking and finance, real estate

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Investment opportunities in housing

by Paul Joseph February 6, 2012 Uncategorized

ArthVeda will invest only in greenfield housing projects in the middle-income segment in Tier-II and Tier-III cities. ArthVeda, the fund management arm of Deewan Housing Finance, has launched its second realty fund — ArthVeda STAR. Targeting middle-income housing in Tier-II and Tier-III cities, this fund hopes to provide improved disclosures to its investors compared with other private equity or venture capital funds. Excerpts from an interview with Mr Bikram Sen, Director and CEO, ArthVeda Fund Management on what the fund has on offer: How different is ArthVeda STAR fund compared with a number of other real estate funds that are currently being floated in the market? ArthVeda will specifically invest

Tagged as: real estate, real estate india

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Notify Dadri wetlands as protected: Green brigade

by Paul Joseph February 6, 2012 Uncategorized

GREATER NOIDA (DADRI): A day after the union environment ministry halted all construction work around the Dadri wetland area, environmentalist are calling it a “battle half won”. They green men say that the government should declare the area protected officially. TOI had first reported the deteriorating condition of the wetland in Bil Akbarpur. Taking note of the sale of such wetlands to private players, the ministry of environment & forests had asked the state government to conserve the entire habitat supporting more than 200 species of endangered birds. Speaking to TOI, environmentalist Anand Arya said the government has finally taken the matter seriously and now, without wasting any time, it

Tagged as: greater-noida, real estate

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NRI investments in property set to grow with better market conditions

by Paul Joseph February 5, 2012 Uncategorized

An estimated 30 million NRIs, living in 130 countries, are sending remittances back home regularly. According to the World Bank, India continues to retain the top slot in remittances by expatriates from abroad. India will beat China in receiving the highest amount of remittances for five consecutive years. For 2011, NRI remittances are likely to touch 4 58 billion against China’s 4 57 billion. In 2010, India received 4 54 billion in foreign exchange remittances , three percent of India’s GDP, beating China’s 4 53 billion. The rupee depreciation and West Asian currencies linked to dollar which is appreciating against the rupee are major driving forces that resulted in a

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Licence of Mayfield Gardens cancelled

by Paul Joseph February 5, 2012 Uncategorized

Licence of Mayfield Gardens cancelled GURGAON/ CHANDIGARH: The department of town & country planning (DTCP) on Saturday cancelled the licence of Mayfield Gardens and asked senior town planner (STP) in Gurgaon to take control of the colony for administrative purposes. “The licence has been cancelled as the promoters of the colony failed to maintain civic amenities like internal roads and community services,” said T C Gupta, director general DTCP, Haryana. This is in addition to the default in payment of Rs 23 crore by the promoters of the company on the account of external development charges (EDC) and annual licence fee outstanding against the colony, Gupta added. The department had

Tagged as: gurgaon, real estate

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