Track2Realty-Agencies: Jones Lang La-Salle (JLL) India has set up a new entity, JLL Segregated Funds Group to raise funds to invest in the Indian real estate market, and its first fund worth . 300 crore will be launched soon in the domestic market.
Track2Realty-Agencies: Two private equity funds, Citi Property Investors and JPMorgan Chase, have initiated separate arbitration proceedings against BPTP on the grounds that it has failed to provide a time-bound exit for their respective investments in the company.
Track2Realty-Agencies: As many as 20 entities have sought SEBI’s approval to set up Alternative Investment Funds (AIFs), a newly created class of pooled-in investment vehicles for real estate, private equity and hedge funds.
Sahara Infrastructure and Housing, of late being in the news for market regulator Securities and Exchange Board of India’s (SEBI) rap for mopping up Rs 17,400 crore through debentures and delayed project completion has now announced another 68 projects within FY 2012 – 13 across India. A statement issued by Sahara claims to introduce 10 lifestyle township projects, of which 9 will be self sufficient integrated townships under the brand name of ‘Sahara City Homes’ and 1 under the brand name of ‘Sahara Grace’.
Sahara India Real Estate Corp has blamed the market regulator Securities and Exchange Board of India (SEBI) for taking up the issue of Sahara group of companies mopping up Rs 17,400 crore through debentures and ordered their refund. Sahara has this plea before the Supreme Court on Wednesday. Senior counsel Fali Nariman, appearing for Sahara India Real Estate Corp, told the apex court bench of Justice KS Radhakrishnan and Justice JS Khehar that the SEBI took up the matter even though there was no complaint from any investor.
A White Paper on black money tabled in Parliament on Monday, May 21, has named real estate among others as most vulnerable to menace of black money. Given that land is part of the top black money generators, the white paper suggested that states could consider taxing farm income to curb black money.
When the Finance minister Pranab Mukherjee proposed home buyers to withhold 1% of the sale consideration as Tax Deducted at Source (TDS), it became a free-for-all kind of football match with developers and property consultants alleging that it could encourage black money component in real estate, while tax consultants believed otherwise and pointed out that the reach of the banking sector in rural area makes it easier to detect unsavoury deals.
Fearing share price manipulation with the help of certain ‘independent’ research reports onIndian companies, market watchdog Sebi may soon bring all kinds of research analysts under its regulatory ambit.
Come budget and the real estate sector, like any other industry, comes out with its own wish list. Unfortunately, while other organised industry get a patient hearing through their industry bodies, the Finance minister seem to be hardly entertaining the sector representatives till recently.
In a bid to boost housing sector credit, the Indian government is contemplating to enhance the income-tax exemption for up to Rs 3 lakh paid as interest on housing loans in a year, from the existing limit of Rs 1.5 lakh.