Tuesday, July 31, 2007 : The closing day of its public issue brought success for IVR Prime. It recorded a commendable subscription 5.75 times the offer when its issue closed on July 26. Fixed at a price band of Rs 510-Rs 600, the IVR Prime issue constitutes 22 percent of its fully diluted post issue paid-up capital.
Tuesday, July 31, 2007 : Kolkata based Bengal Shrachi Housing Development in a joint venture with two NRIs has announced the launch of a housing complex, Rosedale Garden, specially designed for non-resident Indians (NRIs).
Tuesday, July 31, 2007 : Premier realty firm Parsvnath Developers Ltd is set to develop their existing land bank over the next five years by investing over USD 4 billion. Launching over 100 real estate projects in all its segments, they aim at developing their saleable land bank of 153 million sq feet.
Friday, July 27, 2007 : With Initial Public Offerings, the stock markets have become the key medium for India Inc to access capital. There has been a sharp gain of 60% in the market cap of the BSE listed firms over the past one year.
Friday, July 27, 2007: India’s booming economy and an upbeat banking sector are precursors to the banks’ reported quarterly profit. The growing demand for loans has been instrumental in registering banks’ profits.
Thursday, July 26, 2007 : A 35 percent dip in home loan disbursals in the first quarter has propelled HDFC to ponder cutting its home loan interest rates. The fall however is less than the 42 percent dip witnessed by ICICI Bank.
Thursday, July 26, 2007 : Following the growing number of complaints of harassment and ill-treatment of workers at their workplaces in Gulf countries, the Ministry of Overseas Indian Affairs has announced the setting up of a dedicated helpline.
Thursday, July 26, 2007 : It spelt good times for HDIL when the listing day ended on Tuesday. It ended at Rs 559.35, up by almost 12% over its issue price of Rs 500. Even as it saw a high of Rs 575.95 and a low of Rs 535 during the day at NSE, it managed to maintain Rs 11, 730.6 crore market capitalisation.
Thursday, July 26, 2007 : In a significant development the Haryana government asked DLF to pay the prevalent market rates to the farmer instead of a flexible mutual price while acquiring land for its Gurgaon SEZ.
Monday, July 23, 2007 : Property buyers are under the Tax Department’s scanner, as real estate transactions peaked in the current financial year. The income tax authorities are zeroing down on investors who have invested in property disproportionate to their income.
Monday, July 23, 2007 : The Delhi Government came forward last Friday with a reprieve for potential home buyers by reducing stamp duty on all property purchases. Stamp duty rates have been reduced by 2% for both men and women buyers.
Monday, July 23, 2007 : Opening today is another IPO from a real estate company, IVR Prime Urban Developers, a subsidiary of IVRCL Infrastructure and Projects. The company is offering 1.4 crore shares through the book building process which is expected to raise between Rs.721 crore to Rs.849 crore in a price band of Rs.510 to Rs.600 per share.
Friday, July 20, 2007 : The Finance Ministry accorded its approval to 17 FDI proposals worth Rs.590 crore. Of the 17 approvals, Quinn Hotels of Sweden has put up the largest investment with Rs 31 3.33 crore.
Thursday, July 19, 2007 : Looking overseas to raise capital, HDFC Bank Ltd. has generated USD 698 million by selling 6.59 million American Depository Shares on the New York Stock Exchange at USD 92.10 each. This follows ICICI Bank’s raising of USD 2.14 billion last month.
Thursday, July 19, 2007 :For real estate developers in India, size matters. As the economy strides forward with bigger demands on commercial property in India, project sizes assume mammoth proportions.
Wednesday, July 18, 2007 :HDFC has introduced its Asset Plus scheme which offers loans against property at a 13.25% interest rate. Comparing favourably with auto finance and personal loans, HDFC hopes to convert its home loan borrowers who have already cleared their loans to avail of this scheme.
Wednesday, July 18, 2007 :Biometric PAN cards and other technology-driven services from the Income Tax department will soon be a reality. The Finance Minister P. Chidambaram made known the department’s plans to introduce controls to keep a tighter vigil on taxpayers.
Tuesday, July 17, 2007 :Delhi’s top developers are in the fray for the management of MCD’s proposed civic centre on Jawaharlal Nehru Marg near Connaught Place. Construction agency IJM Corporation Berhad of Malaysia and architect Shiriesh Malparia & Associates .
Tuesday, July 17, 2007 :Non resident Indians in Qatar will now be able to avail of the products and services of the Birla Sun Life Assets Management Company through its arrangement.
Tuesday, July 17, 2007 :Lanco Kondapalli Power will execute two road projects in Karnataka on the Build-Operate-Transfer basis for the National Highways Development Project at a cost of Rs.1006 crore.
Monday, July 16, 2007 :Bangalore’s Real Estate Bank International (REBI) has ambitious plans to reach out to overseas markets with an investment of Rs. 250 million. Offices in Sri Lanka, US, UAE, Singapore, Malaysia and Australia will enable real estate services to reach out to non-resident Indians .
Monday, July 16, 2007 :The National Housing Bank formally launched the NHB Residex last week to monitor residential property prices and evaluate the house wealth in the cities of Bangalore, Delhi, Kolkata, Mumbai and Bhopal.
Wednesday, July 11, 2007 :The Government has chalked out an aggressive plan to woo foreign direct investment in India in order to realize its target of 9% growth in the 11th Plan. The Government is considering a joint venture with the private sector to establish investment promotion centres in India and 10 countries.
Wednesday, July 11, 2007 : The Remaking of Mumbai Federation (RoMF) has estimated an expenditure of Rs.20, 000 crore to rebuild India’s financial capital, and hopes to draw from overseas investors and partnerships to fund its makeover plans.
Wednesday, July 11, 2007 : A bouquet of banking and insurance schemes awaits non-resident Indians from Indian and foreign finance companies. This includes insurance schemes from ICICI Prudential and NRI banking products from Barclays of the UK.
Wednesday, July 11, 2007 : After DLF and HDIL, it is now the turn of Omaxe
Ltd to raise Rs. 550 crore through its initial public offering which opens
on July 17, and closes on July 20, 2007.
Saturday, July 07, 2007 : Real estate as a career option is gaining ground, and Indian institutions are drafting specialized courses for the realty sector.
Saturday, July 07, 2007 : The University of Pune has interesting plans for non-resident Indian students who wish to explore their roots. NRI Maharashtrians in particular are being targeted by this unique culture acquaintance scheme, which is expected to be launched in January 2008.
Saturday, July 07, 2007 : Interest rates on NRI deposits have been raised by ICICI Bank with effect from July1, 2007. As per the changes, NRE fixed deposits for one-year have increased by 0.16%, to touch 5.43%.
Friday, July 06, 2007 : Ever since the Overseas Indian Facilitation Centre was launched last month, queries from NRIs on investment in real estate and the stock markets have poured in, reports the Confederation of Indian Industry (CII).
Friday, July 06, 2007 : DLF Ltd hogged the limelight on its first day at the bourses as it traded at Rs. 582.5 per share on the BSE, 11% over its issue price. The developer has been in the news with its IPO raising USD 2.25 billion last month.
Friday, July 06, 2007 : A whopping Rs.2,339 crore will come by way of foreign direct investment (FDI), with the Finance Ministry agreeing to 10 proposals recommended by the Foreign Investment Promotion Board.
Friday, July 06, 2007 : The US Federal Reserve is expected to approve the proposals submitted by the ICICI Bank and the State Bank of India to open branches in the US. The process is reportedly in its final stages, and the approval is expected in a month’s time.
Thursday, July 05, 2007 : Relief and jubilation prevailed in the Emaar-MGF camp as the 2010 Commonwealth Games village project finally came its way early this week, with the last of the contentious issues with the Delhi Development Authority finally being resolved.
Thursday, July 05, 2007 :Unitech is making waves with the launch of its "Grande" residential township on the Noida-Greater Noida Expressway stretching 340 acres.
