8th
& 9th April, 2007
NATIONAL NEWS
PLACE: CHANDIGRAH
Real estate boom fuel IT returns' rise
Benefiting from the real estate boom and the services sector
growth, the number of income tax returns filed from Mohali
and its suburbs, right up to Ropar and Nangal, saw a definite
growth till March 31 this year as compared to the last fiscal.
http://timesofindia.indiatimes.com/Cities/Chandigarh/Real_estate_boom_fuel_IT_returns_rise/articleshow/1872455.cms
PLACE: MUMBAI
Temple wall pulls down real estate price
This is one wall that has brought property prices crashing
down. Realty experts say the recently erected security perimeter
around
Siddhivinayak Temple at Prabhadevi has pulled down the prices
of apartments in and around that area by 15-20 per cent. “Access
to roads,
public transport and the like determine the quality of life,
which unfortunately has deteriorated because of the wall.
So it isn’t really a surprise that
real estate prices have dropped in the area,” says Vinod
Desai, secretary, Citizens Forum.
http://www.dnaindia.com/report.asp?NewsID=1089516
PLACE: MUMBAI
Promoters of Indiabulls to infuse Rs 450 cr in realty arm
The promoters of Indiabulls group will invest Rs 450 crore
in Indiabulls Real Estate (IREL) in one of the largest fund
infusions by a
promoter in the real estate industry. Promoters Sameer Gehlaut,
Saurabh Mittal and Rajiv Rattan will together buy 1.5 crore
warrants
of Indiabulls Real Estate (IREL) at Rs 300 per share, a 15%
premium to IREL’s Friday closing price of Rs 260.75.
Their combined stake
in the company will rise to about 35% upon conversion of the
warrants into equity shares.
http://economictimes.indiatimes.com/Markets/Real_Estate/Promoters_of_Indiabulls_to_infuse_Rs_450_cr_in_realty_arm
/articleshow/1876593.cms
PLACE: NEW DELHI
Whose dream does realty boom destroy?
If you suddenly get a real estate boom with foreign capital
flowing in and also get a wage price spiral, it will make
India’s task of continuing to have a significant cost
advantage over the rest of the world very difficult.
http://economictimes.indiatimes.com/quickies/1867311.cms
PLACE: NEW DELHI
RBI concerned about asset price bubbles
The RBI has urged the government to review FEMA regulations
to check volatility on account of short-term portfolio inflows.
The RBI letter was in response to the ongoing debate on foreign
investment in real estate, government sources said. “Further,
such FII investments could also represent investments through
participatory notes and sub-accounts, where there are concerns
about the sources of funds and the identity of the investor,”
says the communication.
http://economictimes.indiatimes.com/News/News_By_Industry/Finance_Insurance/Banking/RBI_concerned_about_asset_price_bubbles
/articleshow/1876607.cms
PLACE: MUMBAI
'Realty prices may fall on slack volumes'
The next two months are crucial for the real estate market.
If demand does not revive by then, a correction cannot be
ruled out, says Pranay Vakil, chairman, Knight Frank India
a leading international property consultant.
http://www.businessstandard.com/smartinvestor/storypage.php?leftnm=0&subLeft=2&chklogin=N&autono=280404&tab=r
PLACE: NEW DELHI
‘We see an increasing number of Japanese financial
sector players doing business in India’
Shinsei Bank is one of the most technologically advanced universal
banks in Japan. Besides retail banking, the bank has a significant
expertise in asset management, stressed assets, real estate
and consumer finance businesses.
http://www.financialexpress.com/fe_full_story.php?content_id=160500
PLACE: PUDUCHERRY (CHENNAI)
'Ban real estate business in Puducherry'
The Puducherry state unit of the Yuva Lok Jana Sakthi today
demanded the government to ban real estate business in the
Union
Territory President of the party M D Umasudhan said in a release
here today that farm lands under cultivation was declining
in Puducherry and this affected farm and dairy workers severely.
http://www.chennaionline.com/colnews/newsitem.asp?NEWSID=%7B38CCD70A-1A59-4762-AB95-
75F9FC7181ED%7D&CATEGORYNAME=TAMNA
INTERNATIONAL NEWS
PLACE: SHALLOTTE
Brunswick real estate activity builds
Some Brunswick County real estate agents say business has
picked up in the past couple of weeks, but they don't know
yet whether it's a
blip or a trend."We're starting to see buyers come
through," said Mike Blandino, the agent in charge of
Sloane Realty's Sunset Beach office.
http://www.myrtlebeachonline.com/mld/myrtlebeachonline/17049375.htm
PLACE: KIRKLAND, WASHINGTON
Market Conditions
One of the most wonderful places to raise a family,"
is seeing a strong real estate market for 2007. Experts
report that property values are up 8 to 12 percent over
last year, with prices ranging from the mid-$400,000's to
over $2 million. An average day on market is around 86.
One local expert reports, "The real estate market continues
to do well despite the lower levels of inventory and the
large number of buyers searching for property. Kirkland
shares in this abundance of price appreciation due to the
current conditions."
http://realtytimes.com/rtcpages/20070409_mrktconditions.htm
PLACE: SAN FRANCISCO
Real Estate & Wealth Expo Coming Soon to a City Near
You
Donald Trump and his gang of highly successful friends,
including Tony Robbins, David Bach, and George Foreman,
will soon be visiting a city near you to share their secrets
of making big money in real estate and how to get rich.The
expo's tour began in February in Atlanta, and then making
its way to Los Angeles, San Francisco, and just last week,
Toronto .
http://www.clevelandleader.com/node/1425
PLACE : RIYADH
Real estate fund gives 1.2b riyals in home loans
The Real Estate Development Fund (REDF) has approved loans
to build 5,416 homes in towns and villages across Saudi
Arabia. The loans, distributed to 4,513 people, were worth
around 1.2 billion Saudi riyals. The Real Estate Development
Fund (REDF)
was established by a royal decree in 1974.
http://www.gulfnews.com/business/Real_Estate_Property/10116952.html
PLACE: BLOOMBERG
Crescent Real Estate Sells Hotels to Walton for $620 Million
Crescent Real Estate Equities Co., a real-estate investment
trust founded by Richard Rainwater, and its partners agreed
to sell properties including the Fairmont Sonoma Mission
Inn & Spa for $620 million to Walton TCC Hotel Investors,
just days after Walton terminated its offer.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aDezTApCnd3k&refer=home
PLACE : WEST ASIA
'Real Estate Tax Secrets of the Rich' by Sandy Botk
Owning real estate is one of the best ways to shelter your
income from taxation. But beyond that, how much do you really
understand
about your property's tax basis, deductions and depreciation?
If the answer is, "Just enough to know I should let
my accountant handle it,
" you may be making a costly mistake, writes Sandy
Botkin in "Real Estate Tax Secrets of the Rich."
http://www.latimes.com/business/taxes/la-re-book8apr08,1,6554870.story?coll=la-headlines-business-taxes&ctrack=1&cset=true
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