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Union government can Change Foreign Ownership Rules
The Union government plans to change foreign ownership rules in the real estate sector by scaling down the minimum area requirements for residential and commercial projects that have overseas investment. Current foreign direct investment (FDI) norms set the minimum area for serviced housing plots with such overseas ownership at 25 acres and, for construction development […]
Realty Face to Face with Reality
The five-year boom in India’s realty industry came to a crashing halt in 2008, following an acute liquidity crunch, falling sales and rising interest rates. The year, though, started on a positive note. The Dubai-based Emaar MGF raised $1.64 from the primary market in late January, and two motnhs later, Delhi-based realtor BPTP registered the […]
Gain for DLF and Unitech
DLF Ltd. and Unitech Ltd. led gains in Indian developers after Housing Development Finance Corp., the nation’s biggest home mortgage lender, and State Bank of India lowered interest rates on loans. DLF Ltd., the nation’s biggest real estate developer, rose to the highest in two months, gaining 3.9 percent to 319.75 rupees as of 11:15 […]