The time has come… for an NRI to buy a house

TIME FOR NRIs TO BUY A HOUSE

After a rollercoaster ride, the residential property market has stabilised now and a number of developers are gearing up to launch new housing projects. Developers are gaining confidence and pricing the products in a realistic manner. Realty funds are coming back to identify strategic partners for investments in residential projects. Read more

BONANZA FOR SELF-EMPLOYED PEOPLE

As the market is becoming more competitive with the entry of a number of private housing finance companies, self-employed people are in for a bonanza with flexible lending norms even though at a marginally higher lending rate. Read more

PROPERTY MANAGEMENT SERVICES

Another significant development is the proliferation of property management service companies to service the retail clients in the real estate sector. Read more

TAX ADVANTAGE

There are inherent tax advantages for NRIs while investing in real estate. Besides income tax and wealth tax exemption for one self-occupied house, residential units if leased for a minimum period of 300 days in a calendar year are exempt from wealth tax. The benefit of cost inflation index is available to a NRI for the purpose of computation of taxable long-term capital gains. Read more

REPATRIATION

Moreover, repatriation of original investments made in foreign exchange is permitted up to two residential properties after a lock-in period of three years. Read more

Banks, realty sector help sought to make India slum-free

NEW DELHI: Seeking viable solutions to make India slum-free , Government on Monday invited banks, other financial institutions and the real estate sector to use its interest subsidy scheme for construction of affordable houses for urban poor .

“There is a need for credit enhancement through appropriate fiscal, legal and institutional mechanism to ensure the flow of capital to realise the vision of slum free India,” Housing and Urban Poverty Alleviation Minister Kumari Selja said here on the occasion of World Habitat Day.

The theme of the World Habitat Day for this year is “Better city Better life”. Read more

New development in the Delhi-NCR region

VIGNESHWARA TO INVEST Rs 1,600 CRORE IN GURGAON

Infrastructure and realty major Vigneshwara Developers is planning to invest around Rs 1,600 crore into various projects in Gurgaon by 2013.

The company that has joined hands with Commonwealth Games 2010, Delhi as official real estate licensee, has projects worth Rs 450 crore under construction as on date. Vigneshwara’s managing director Sunil Dahiya said three projects are being undertaken by the company in Gurgaon region that include a business park, technology park and a commercial hub. Read more

SEIZING THE ECONOMIC ADVANTAGE

One has to see it to believe it, as the serenity of the surroundings strike you immediately. A mini walled city, secure and secluded, with 280 production units—ranging from garments, gems and jewellery, electronic hardware, computer software—most with swanky offices (even the worlds second-largest, platinum-certified green building) and greenery to match the broad, traffic-free roads, it seems like a desirable address to have on your business card. And so ‘secure’ is the apparatus that even if the income tax department has to raid a unit on the NSEZ premises, it has to seek permission from NSEZ! Read more

Infrastructure and Metros

INDIAN TOLL ROAD COS BET BIG ON HIGHWAY INFRA INVESTMENT

Infrastructure, in general, and roads, in particular, feature on the government’s immediate execution agenda. And Indian infrastructure companies are all set to grab the growing opportunity in India’s highway infrastructure story. Read more

METRO LINE TO NEHRU STADIUM OPENS

At 8 a.m. on Sunday, the Delhi Metro railway finally began its journey from Central Secretariat to Sarita Vihar, passing through the imposing Jawaharlal Nehru Stadium, venue for the opening and closing ceremonies of the Commonwealth Games. Read more

Growth and Expansion

PEPPERMINT HOTELS PLANS TO OPEN 10 PROPERTIES

In a bid to cash in on the growing number of young travellers, new entrant in the affordable boutique hotel segment, Peppermint Hotels, plans to open 10 such hotels with about 900 keys by end 2011, a top company official said. Peppermint, an independent hotel chain floated by the promoters of the BSE listed Royal Orchids, currently operates one hotel in Gurgaon. However, it does not own any stake in Peppermint Hotels. Read more

WE AIM AT 376 STORES BY YEAR-END: AJAY KAUL, CEO, JUBILANT FOODWORKS

Ajay Kaul, CEO, Jubilant Foodworks, spoke on the company’s performance as well as their foray into smaller cities. Read more for excerpts from the chat.

CWG ALL SET TO CREATE OVER FIVE LAKH JOBS

The promotional and sponsorship activities revolving around the ongoing Commonwealth Games (CWG) are likely to swell the coffers of the Delhi government . In fact, around Rs 4,500 crore is expected to be generated in terms of revenue. The Associated Chambers of Commerce and Industry of India (Assocham) has stated that this might push the GDP from Rs 1,17,000 crore to Rs 1,75,000 crore — a remarkable increase of 49%. Read more

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