November 2006 News
Investment Policy or Time to Rejoice for NRIs?
Thursday, November 30, 2006 :As a step to attract investments from overseas investors, Indian Government has come up with a liberal and transparent policy for Non Resident Indians (NRIs) interested to make considerable investments in their motherland. Majority of the sectors are open to Foreign Direct Investment (FDI) under the automatic route.
Real
Estate Forecast Still Strong!
Monday, November 27, 2006 :Recently organized a survey over the real estate is forecasting a minor decline in home sales for 2006, largely due to an increase in interest rates. It’s obvious that buyers are starting to gather by the sidelines and homes sales should slide by about five percent. But that’s nothing to panic about, Evens continue, Keep in mind that housing sales have reached new records every year for the past five years. Also, home prices are still expected to rise.
Pravasi
Bhartiya Divas – 2007
Sunday, November 26, 2006 : The global Indian family has its annual get together – the 5th Pravasi Bharatiya Divas (PBD) – Jan 7-9, 2007 in New Delhi. Around 2,000 non-resident Indians (NRIs) and People of Indian Origin (PIOs) from over 70 countries attend this jamboree to hobnob with 1,200 Indian delegates and renew their links with their motherland.
Guidlines
For Real Estate Funds to Launch Soon
Saturday, November 25, 2006 : The guidelines for launch of real estate funds are likely to be issued soon, said A P Kurian, chairman, Association of Mutual Funds in India. “We along with Securities and Exchange Board of India have worked on several areas and we are expecting guidelines soon,” he said.
Foreign
Investors Eyeing Booming Realty Sector in India
Monday, November 20, 2006 : The study
— Future of Real Estate Investment in India — projects that in
2006-07 the total foreign direct investments into India would be
about eight billion dollars, of which the share of the real estate
sector is estimated at 26.5 per cent.
FDI’s
Share in Real Estate will Touch 26% by Mar ‘07
Monday, November 20, 2006 : FDI’s
share in domestic real estate market will shoot up by at least 10%
by March 2007 and touch about 26% level from 16% of fiscal 2005-06,
in view of growing interest of global real estate players into Indian
real estate market and increasing demand of office space particularly
in IT & BPO, according to The Associated Chambers of Commerce
and Industry of India (ASSOCHAM).
New
Investment Avenues at Home for Overseas Keralites
Saturday, November 18, 2006 : The Kerala
Cabinet yesterday cleared the setting up of a company on the lines
of Cochin International Airport Ltd, a model public-private partnership,
to chanalise NRI remittances and investments. The state government
would pick up equity in the proposed Infrastructure Kerala Ltd and
remaining stakes would be open to private investors, mainly non-resident
Keralites (NRK), Chief Minister V S Achuthanandan told reporters
at the post-Cabinet briefing here yesterday.
NRIs
Can Cash Out of Indian Real Estate
Saturday, November 18, 2006 : Non-resident
Indians 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.
NRIs:
Buying a Home in India Made Easy
Friday, November 17, 2006 : The Indian
Government has considerably eased the restrictions relating to investments
by NRIs in house property. There is virtually no restriction or
approval required for an NRI to invest in properties in India from
funds received in India through normal banking channels or held
in Non-resident External (NRE) account/
Foreign Currency Non-resident (FCNR) account
(B)/ Non-resident Ordinary (NRO) rupee
account.
RBI
Sounds Alarm on Tax Havens
Friday, November 17, 2006 : An internal
study by the Reserve Bank of India is understood to have found out
that most of the foreign exchange inflows into India from non-resident
Indians (NRIs)
HDFC
Debuts in United Kingdom
Wednesday, November 15, 2006 : Over two
lakhs Indians living in the United Kingdom now can look forward
to buying property in India. Housing Development Finance
Corporation Limited (HDFC) today launched its operations in
London.
Standard
Chartered Bank Launches NRI Swagat Account
Tuesday, November 14, 2006 : Standard
Chartered Bank has launched NRI Swagat account,
a first of its kind customer proposition, which addresses the specific
banking requirements of the NRIs with their roots in Kerala and
Punjab, says a release. It comes in two variants – one version is
targeted at the NRIs/ PIOs with
origins in Kerala and the other at the NRIs with their roots in
Punjab.
NRI’s:
Why Shy Away From Stocks?
Monday, November 13, 2006 : Either overseas
Indians are still unsure about the strength of their home country’s
economy or they’re tending to behave like speculators and
not investors. In any case, reports of NRIs jettisoning holdings
in the Indian stock markets are surprising. The Financial Express
recently reported that in September and October, NRIs were net sellers
at Rs8.77 crore and Rs7.31 crore, respectively.
Indian
Property Company to List in London
Monday, November 13, 2006 : Ishaan Real
Estate PLC, which starts its roadshow today, is essentially a listed
fund with an initial portfolio of eight property assets that will
be majority owned and developed by K Raheja Corp, one of India’s
leading real estate developers. K Raheja Corp, which will also be
a shareholder in the listing vehicle, is run by the Raheja family
which has been active in the country’s real estate market
for several decades.
Tax
Exemptions Must be Reviewed – FM
Friday, November 10, 2006 : In his next
budget Finance Minister P Chidambaram will seriously consider phasing
out large tax exemptions that are hurting the economy.
Now
You Can Invest $50,000 Abroad: RBI
Thurday, November 09, 2006 : The RBI has
announced that resident individuals would be allowed to remit up
to $50,000 per financial year (increased from $25,000) for any current
or capital account transactions or a combination of both.
Private
Equity Investment in India Up 250 Per Cent in Financial Year 2006:
CNBC
Thursday, November 09, 2006 : Private equity funds have invested about $6 billion so far this year-that is 250 per cent more than last year and Indian companies have made global acquisitions worth $15 billion, reports CNBC-TV18.
Diaspora
Pumped in $22 Billion Last Year: Report
Tuesday, November 07, 2006 : As recently as a decade ago, overseas Indians were viewed either as cash cows to be milked or as traitors who’d taken their highly subsidised education and abandoned the motherland to get rich abroad, it said in its forthcoming Nov 13 issue.
THE
NR EYE: Remitting property sale proceeds is now easier
Sunday, November 05, 2006 : A recent Reserve Bank of India (RBI) announcement easing remittance of property sale proceeds should come as a welcome gesture for non-resident Indians (NRIs) wanting to gain from the current real estate boom in India.
Have
NRIs missed the boat to a booming economy?
Saturday, 4 November, 2006 : "Have I missed the boat as an NRI investor in India’s booming economy?" was the first reaction of Manibhai Patel in London as he confronted the news that Bombay Sensex had set a new record at 13,000 points October 30.
Indian
Property Show aims to make dreams come true
Friday, 3 November, 2006 : Dubai: Showcasing an estimated Dh17 billion worth of property from across India, the Indian Property Show opened this week, bringing together more than 80 real estate and financial agents from the sub-continent.
FDI
outflows will rise as India Inc’s M&A appetite grows:
Dua
Friday, November 03, 2006 : Impressed by the ability of the Indian companies to make smart acquisitions as well as turn around loss-making private and public companies abroad, foreign institutions and overseas banks have increased their lending to Indian companies for investment abroad.
