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Propshell Business Solutions - Personalized Property Management - Buy, Sell, Rent Residential and Commercial Properties in India
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| Indian Real Estate News |
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The Maharashtra Navnirman Sena (MNS) and the Shiv Sena’s campaign against non-Marathis living in Mumbai is beginning to worry the Gujarati community in that metropolis. It is true that the campaign is directed mainly against North Indians in the city but it is sufficiently unpleasant to make many Gujarati Mumbaikars consider shifting to Gujarat for safety. Some Gujaratis from Mumbai have already purchased apartments in Ahmedabad and many others are on the lookout for properties that they can buy. Six Gujaratis from Mumbai, who happen to be cousins as well, recently struck a deal for seven apartments in a housing scheme in the South Bopal area of Ahmedabad. “We have booked seven apartments in South Bopal for our six families,” said Nita Shah.
The 43-year-old Mumbaikar is in government service. Explaining why the cousins had bought so many flats together, Shah said that, apart from their love for Gujarat, they had also been driven by the anxiety caused by the campaign against non-Marathis in Mumbai. “We were born and brought up in Mumbai and we love the city, too,” she said. “But we feel more at home in Ahmedabad because our family originally came from this city. We plan to spend at least six months in Ahmedabad every year after retirement.” She said that following their decision to purchase property in Ahmedabad, many more Gujarati Mumbaikars had started thinking about buying property in their cities of origin in Gujarat.Read More » |
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| 26 February 2010 indianrealtynews.com |
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For non-resident Indians, in particular, the online facility to trade in the Indian markets is a boon. With the markets currently on the lower side and more volatile than a few weeks back, there is the opportunity for the discreet NRI investor to pick on choice stocks to add to his portfolio. To assist him in doing this more easily and with greater control, we have an increasing number of brokerage houses adding new online trading facilities. In the past weeks, ICICIdirect and Geojit BNP Paribas, two leading retail stock brokers with a sizeable presence in the Gulf, have joined the fray. ICICIdirect launched its new online trading platform ‘TradeRacer followed by Geojit BNP Paribas which launched its enhanced online trading platform ‘FLIP’ (Financial Investment Platform).
The platform is available free of cost for its existing customers while brokerage charges remain the same at 0.3 percent for a delivery. FLIP is already available in stock exchanges of Saudi Arabia and Oman. Developed by Geojit Technologies (P) Ltd, a subsidiary of Geojit BNP Paribas, ‘FLIP’ provides features similar to ICICIdirect’s TradeRacer like alerts, research reports, intra-day charts, technical analysis, third party news, customised interface and a mobile edition called FLIP-Me. Both mobile integration options are available through low bandwidth GPRS-enabled mobile phones. Read More» |
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| 26 February 2010 indianrealtynews.com |
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Indiabulls Real Estate today said its board would meet on Thursday to discuss restructuring of its wholesale trading business through demerger. In a filing to the Bombay Stock Exchange the company said its board would meet on February 25 to consider a scheme of demerger of its wholesale trading business to Indiabulls Wholesale Services Ltd.
The company had earlier said that the restructuring would unlock value and also streamline the operations and ownership structure of Indiabulls Real Estate. Last week Indiabulls Real Estate had said that its board has appointed advisers and authorised a committee to prepare and present the draft proposal and related documents for the said demerger. Shares of Indiabulls Real Estate were trading at Rs 153.85, up 0.36 per cent on the BSE. Read More» |
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| 26 February 2010 indianrealtynews.com |
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Godrej Consumer Products Ltd may announce some acquisitions as early as in the financial year beginning April, a top official said on Tuesday. The company has been scouting for acquisitions in personal care products, haircare space and household categories. “We are looking at several acquisitions and we hope to announce some early in the next financial year, depending on how the negotiations go,” Chairman Adi Godrej told Reuters via telephone.
The consumer products maker also plans to raise its advertising spend by 25 percent in the coming fiscal but has no plans to raise product prices, he said. The group’s real estate arm Godrej Properties, which recently sold shares in an IPO, is also looking at about 15 more joint venture projects, he said. “Most of our projects are joint ventures with land owners, wherein we share either the profits, the area or the revenue. We have completed at least 15 such joint ventures and we are doing at least 15 more,” he added. Read More»
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| 26 February 2010 indianrealtynews.com |
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DB Realty, the second property developer to list this year, and Emmbi Polyarns made weak debuts in a choppy market on Wednesday. DB’s disappointing listing was contrary to investors’ expectations of a strong opening, though the stock managed to recoup most of the early losses. The stock, which fell to a low of Rs 412.50 earlier in the day, closed at Rs 455.40, a 3% discount to the issue price of Rs 468. The stock’s backers, such as independent analyst SP Tulsian, feel the market has not understood the company’s prospects well.
“The stock, even at the issue price, is the cheapest of all the listed peers on the basis of its debt-free status, majority of its land under development in Mumbai (around 68%) and execution capabilities,” said SP Tulsian. “It is a long-term hold of at least 12 months.” The Rs 1,500-crore DB issue was subscribed close to three times the number of shares available for sale, though a section of the market felt the issue was priced at the higher end of the valuation band in line with that of the listed counterparts such as DLF and Unitech.Read More » |
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| 25 February 2010 indianrealtynews.com |
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Last year the Indian real estate market was badly hit by financial turmoil that resulted in low demand and huge amount of debt. However, it didn’t change the fact that by 2010 India will be facing a shortage of over 25 million homes all mostly in the affordable housing space. Industry experts say this year the focus of the government should and would be on affordable housing. The focus should be on home loans, incentivising developers to build low cost housing and to enable funds to be more easily accessible for the sector.
Overall, housing constitutes 70 per cent of India’s real estate sector and employs almost 20 million people and sops for housing are a must. “Housing and infrastructure will be the trigger for growth over the next two decades. Affordable housing should be the focus. PPP projects need to be encouraged and other measures like extending 80(i) b needs to be considered,” said Dharmesh Jain, chairman of real estate body, CREDAI. CREDAI has submitted its recommendations for this year’s Budget to the finance minister. These include raising the limit of principal amount reduction on home loans to Rs 3 lakh from current Rs 1 lakh..Read More » |
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| 25 February 2010 indianrealtynews.com |
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| Events & Exhibitions |
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Date: 5th - 7th March 2010
Venue: Chennai Trade Centre, Chennai
Supported By: infomedia18 |