Developers focusing on NRIs to give sales a push

Paul Sharma, 46, a portfolio manager with a hedge fund in London, plans to apply for an overseas Indian citizenship that would let him buy real estate in one of the fastest appreciating real estate markets in Asia.

Sharma, who is partly of Indian origin, left India in 1968 and has since been living in the UK. And he is not eyeing India for sentimental reasons alone.

“I am basically from Himachal Pradesh and I would like to buy a property somewhere around my native place,” Sharma says. Though he has property in the UK, he isn’t buying more there.
“I think one of the issues in the UK real estate market is that it is really difficult to track the market. The last time there was a softening in the UK property market, it was for six years—from 1989 to 1995.”
Developers say that even as sales in the real estate India market are declining, demand from overseas and non-resident Indians (NRIs), especially in the luxury housing segment, is on an upswing.
The real estate sector in the country has been growing at 30-35% a year to touch $12 billion (Rs47,760 crore) this year, according to consultancy firm Ernst & Young’s report.
In the last six months or so, the real estate market has seen a drop of 60% in sales in the top cities as higher interest rates crimp buying. But demand from the overseas Indian community continues to be strong because it is not facing a similar sharp rate hike in those countries, where the real estate market is more mature and the returns less assured.

Being the seventh largest in India

Ahmedabad, one of the most developed cities in the Indian. The city enjoys a status of being seventh largest in the country. Being the seventh largest in India adds to Ahmedabad’s popularity.

There is always a high demand for residential complexes and flats here, a factor that gives a strong push to Ahmedabad real estate. The property market is making rapid progress on the back of prime developments by builders in Gujrat.

Ahmedabad real estate mainly deals in two segments: Residential and Commercial. Talking about commercial properties in the city, it includes shopping malls, multiplexes, and office spaces. And the residential property sector in Ahmedabad has apartments, bungalows, and townships, penthouses, thereby witnessing for a comprehensive development in full swing.

A scenario for, investing in Ahmedabad Real Estate is certainly worth the idea. However, the market depends on location and the kind of amenities offered.

As far as the Real Estate in Ahmedabad is concerned, a number of retail players are there which include the brands such as Star India Bazaar, Big Bazaar, Shoppers’ Stop, West Side, and many others. There are international brands as well which are believed to be highly enthusiastic after Ahmedabad market for its retail potential.

Haryana CM woes NRIs to invest in the state

Inviting NRIs among other potential players to invest in the state, Haryana Chief Minister Bhupinder Singh Hooda today said the government is considering to give them preferential treatment in allotment of land and other fiscal incentives.

The state will be setting up an NRI nodal office to attract investment and assist NRIs in doing business in the state, Hooda said, adding “plans are also there to give concessionary residential lots in prized locations to settle them and make them feel at home”.

Priority industrial plots in key areas will be allotted to assist them in setting up their businesses. The state was willing to consider tax concessions for NRIs akin to those given by Himachal Pradesh and Punjab, he said here while concluding his North American business promotion tour.

Earlier this week he addressed a ‘Business Roundtable and Networking Dinner’, organised by the Canada-India Business Council (C-IBC) in tie up with the Indo-Canada Chamber of Commerce (ICCC) and the Confederation of India Industry (CII).

His mission consisted of automobile and textile business executives who met their Canadian counterparts including the Magna Group that has major plans for India.

During his tenure, the state has became the number one producer of automobiles, home to top IT companies, a magnet for textile industry and a draw for multi-nationals who have made Gurgaon their head quarters, he claimed.

Haryana’s proximity to Delhi (it surrounds Delhi from three sides) is a boon to the state, which through a domino effect provides infrastructure, highways and transportation as a backbone to the states development, he added.

The bane of the industry, power, plays a vital role and can be an undoing of any economy. To rectify this problem, the state has embarked upon an ambitious power generation program where first of the many power generation stations, a 300 mw unit in Yamuna Nagar, will be inaugurated on November 1st this year, Hooda said.

While welcoming the chief minister, Kam Rathee, President of the C-IBC, congratulated him for bringing a new sense of pride and realism in the state. The C-IBC plans to play an active role in fostering trade and investments to and from Haryana, Rathee added.

Sunil Jagasia, President of the Indo Canada Chamber of Commerce, outlined what their future business plans were and how they would assist in leveraging investments into India.

Deep Kapuria, Chairman of North India CII and the leader of the business segment of the delegation briefed on the opportunities available to overseas businesses in Haryana.


Now One can make a “Taj” for his Mumtaj

With a majority of the nationalized and private sector banks going in for cuts in their lending rate on home loans and others loans, that too before the RBI’s mid-term review of monetary policy this month-end, it is expected that the urban co-operative banks in the state might follow suite. With the recent rate cuts on home lending rates and vehicle loans by banks like ICICI Bank, IDBI, State Bank of India (SBI) and Bank of Baroda (BOB), the urban co-operative banks are feeling the heat of competition from private and nationalized banks.

The lending rates in home loans for the co-operative banks in Gujarat generally range between 9 per cent and 13 per cent. It is expected that the co-operative banks might go for lending rate cuts up to 1 per cent, but it depends on the outcome of the mid-term review of monetary policy.

An Estate Of Love and memories

Hot Real Estate Market In India

India may seem like an exceptionally unusual choice as a location in which to invest in real estate – sure, it’s a great vacation location with its thousands of years of history, The answer is – India is actually fast moving from being an emerging real estate market place to a well established one because the levels of foreign direct investment into the real estate sector have increased based on some excellent fundamentals.

For example, India is now considered to be a politically stable country and one that is absolutely pro-western, meaning that an investor can be confident in the political stability, will and vision of the nation. Next up, the economy in India is going from strength to strength.

A strong economy gives confidence to investors as well – but it also means local people have more buying power which creates the perfect environment for house prices to rise in value and an investor’s real estate assets to appreciate.

Real Estate Market in India is Hot..

India, the world’s leading emerging property market and one which is forecast to outstrip even that of Spain! Real estate investors worldwide are turning their attention to India as it fast becomes a world economic leader and returns on India property investment are considered to be excellent. Investors are increasingly aware of the high growth potential that the India property market offers and that this is supported by a strong government which actively seeks and supports foreign investment.

Now is the optimum time for investing in India’s off-plan booming property market. In particular, India coastline property prices are extremely low in comparison with what it’s anticipated they will become and, at the same time, it is fast becoming a property ‘hot spot’. Generally and a wise mantra to bear in mind is, that as with all emerging property markets, the earlier one invests the greater the profit potential and this is nevermore abundantly evident than in terms of India.

India is geographically divided into twenty five regions mainly, north, northeast, central-west, southeast and south and the Northeast has one third of India’s population. The region is culturally diverse with roots from the Portuguese colonial period, Indian culture and some Indian influence. It is well known for its beautiful coastline and the most important cities in the Northeast of India are Nagaland, Mizoram and Meghalaya