NOV 18, 2006

NATIONAL NEWS

Place : New Delhi

Sobha Developers to raise upto Rs 570 cr

Bangalore-based real estate firm Sobha Developers Ltd plans to raise upto Rs 570 crore from its Initial Public Offer,
which will hit the capital market on November 23, to part finance land acquisition, construction costs of its residential
projects and repayment of loans.

http://economictimes.indiatimes.com/articleshow/462438.cms

Place: Mumbai

Real estate boom spills to non-metro cities now

The real estate boom looks likely to continue for some time. Strong demand and increasing affordability are expected to keep land prices firm in class II and class III cities.

http://economictimes.indiatimes.com/articleshow/462975.cms

Place: New Delhi

As predicted oil price in long term bear market - breaks the $57 base

The poor real estate market, the underemployment, the stagflation and lowering of standard of living in the developed nations are acting as the real drag.

http://www.indiadaily.com/editorial/14274.asp

Place: New Delhi

Too few real estate projects available for foreign funds

Billions of dollars are waiting to get into the Indian real estate. But as CNBC-TV18 finds out, though the market is lucrative, foreign investors are up against major hurdles.

http://www.moneycontrol.com/india/news/property/morganstanleytrikonacapital/toofewrealestateprojects
availableforforeignfunds/market/stocks/article/251645

Place: New Delhi

NRIs: Buying a home in India made easy

Real estate development in India is estimated at USD 12 billion and growing at 30% every year.

http://www.moneycontrol.com/india/news/nriexperts/null/nrisitsnotthattoughtobuyhomeindia/market/stocks/article/251515

Place: New Delhi

Fortune list of 40 richest in India

Boosted by hot stock market and robust real estate market, India has seen a rise in its wealthiest fortunes list.

http://www.andhracafe.com/index.php?m=show&id=12441

Place: Mumbai

Move to levy cess on commercial property not to impact metros

The government's plans to levy Re 1/sq ft cess on commercial establishments will not have any negative impact in major metros such as Mumbai, Delhi, Bangalore and Kolkata as the commercial rental rates in these cities are already on the higher side, starting from Rs 40/sq ft onwards, and are in some cases as high as Rs 150 - 200/sq feet. The move, therefore, will not pinch those who are already willing to pay such high prices.

http://www.financialexpress.com/fe_full_story.php?content_id=146766

Place: Mumbai

NRIs can cash out of Indian real estate

Non-resident Indians (NRIs) with wealth stuck in real estate in India have reason to rejoice. They can now not only cash
out on the property they hold in India but have also been provided an incentive to invest in real estate.

http://www.business-standard.com/smartinvestor/storypage.php?leftnm=lmnu6&subLeft=10&autono=265240&tab=r

INTERNATIONAL NEWS

Place: Dubai

Surplus driven investments: GCC sets eyes on Asian opportunities

The agency is also considering opportunities in Turkey's financial services and real estate sectors and hopes to sell part of its holdings in a Tunisian development bank

http://www.khaleejtimes.com/DisplayArticleNew.asp?xfile=data/business/2006/November/business_November530.xml&section=business

This week's Real Estate stories

Homeowners do not want to see home prices fall. A drop in the value of your house lowers your net worth, gives you
less equity against which to borrow and can generally sour your mood on a host of other financial topics, including how much you
are going spend on holiday gifts this year.

http://www.marketwatch.com/news/story/story.aspx?siteid=mktw&guid=%7B56B45BFB-7A35-4903-976C-1E218033A7A9%7D

Houston's real estate holdings in jeopardy

Whitney Houston has already lost one house in Georgia and now the troubled singer stands to lose a second home in New Jersey.

http://www.upi.com/NewsTrack/view.php?StoryID=20061117-083935-2220r

Housing Bubble and Real Estate Market Tracker

Here's our summary of articles and data points on the housing market. It's part of Seeking Alpha's coverage of the real
estate market and homebuilder stocks

http://usmarket.seekingalpha.com/article/20693