Indians to be most active buyers of British real estate
Indians are emerging as among the most active buyers of property in Britain, according to a report in local British media.
Indians are emerging as among the most active buyers of property in Britain, according to a report in local British media.
Real estate and construction has been voted as the most corrupt sector in India, according to a survey by global consultancy firm KPMG.
Buying land can be a time-consuming and expensive affair. Not only can the initial phase of buying it be quite complicated, but the cost involved in maintaining a purchased plot can also be quite high.
Real Estate developers across the country have termed the Union Budget 2011-12 as a tie cricket match which can’t be termed as won or lost. However, they are all unanimous that it is not a game changer budget for the sector.
It would seem that the Union Budget 2011 pointedly ignored the larger issues affecting the Indian real estate sector at this sensitive stage of revival and growth.
The unfulfilled demand of more than 24 million houses in the country needs large scale impetus to achieve desired results. Allowing deduction for investment into affordable housing is a welcome step and will surely boost morale of housing industry and will accelerate investments in affordable housing.
The limit of funds to be invested by foreign investors in the Indian infrastructure sector has been raised with Finance Minister Pranab Mukherjee also allowing mutual funds to accept foreign funds in the national budget presented on Monday.
Realty firm Ansal API is looking at a fund infusion of about Rs 500 crore from a host of private equity investors, including IL&FS Investment Managers and Red Fort Capital, for its ongoing construction work in north India.
In a change of stance, the state home department has decided to look into its own move to shift out the Yerawada police station on the Pune-Ahmednagar road and allow commercial exploitation of the three-acre plot on which it stands.
The RICS, an international, self regulatory professional body relating to real estate, has called for a mechanism for consumer protection and fair practices in real estate transactions. This will also help increase domestic and foreign investments in this sector.