According to a latest report from industry body, the foreign direct investment (FDI) in real estate in India will increase to U.S. $ 25 billion over the next 10 years from the current U.S. $ 4 billion on the back of a growing recognition as an infrastructure service the engine driving the country's economic growth.
Recently, a discussion draft Real Estate (Development Regulation), reference and real estate law, was launched by the Union Ministry of Housing and Urban Poverty Alleviation. The objective of the Real Estate Act is to establish a regulatory authority and a Court of Appeal regulate, control and promote the planned development and healthy construction.
Reserve Bank of India has revised the norms for urban cooperative banks (UCB) to give loans to housing sector and real. According to RBI, capital loans to small contractors against the mortgage of building materials are exempt from existing rules that allow UCB to use 15 percent of total deposits to make loans for housing and property commercial real estate in India.
The Reserve Bank has rewritten the rule of aggregate limit for housing finance, which allows banks to urban use 15 percent of deposits for housing, real estate and CRE loans.
In addition, real estate companies benefit from the demand for office and residential space in Tier II and Tier III cities and has planned several projects in 2010-11. DLF, the largest real estate company serving the real estate sector, believes that economic growth is faster in smaller cities and therefore will create a greater demand for real estate.
In addition, Ansal Properties is also the execution of residential projects under way in Jaipur, Jodhpur, Agra, Ajmer, Kundli and Panipat and other cities to improve the real estate development in the country. In 2010-11, the company is planning to launch an area of million square feet in a commercial project in Lucknow for office buildings and a mall.
In addition, real estate major DLF has announced that builders and Construction Carafa has increased its stake in DLF Assets (DAL) to 91 percent. Carafe is involved in acquiring and developing real estate in India. The lease company has four rental properties in Gurgaon, Kolkata and Chandigarh. DAL is a co-developer of four IT / ITES special economic zones (EEZ), based in Delhi, Gurgaon, Chennai and Hyderabad.
Recently, a discussion draft Real Estate (Development Regulation), reference and real estate law, was launched by the Union Ministry of Housing and Urban Poverty Alleviation. The objective of the Real Estate Act is to establish a regulatory authority and a Court of Appeal regulate, control and promote the planned development and healthy construction.
Reserve Bank of India has revised the norms for urban cooperative banks (UCB) to give loans to housing sector and real. According to RBI, capital loans to small contractors against the mortgage of building materials are exempt from existing rules that allow UCB to use 15 percent of total deposits to make loans for housing and property commercial real estate in India.
The Reserve Bank has rewritten the rule of aggregate limit for housing finance, which allows banks to urban use 15 percent of deposits for housing, real estate and CRE loans.
In addition, real estate companies benefit from the demand for office and residential space in Tier II and Tier III cities and has planned several projects in 2010-11. DLF, the largest real estate company serving the real estate sector, believes that economic growth is faster in smaller cities and therefore will create a greater demand for real estate.
In addition, Ansal Properties is also the execution of residential projects under way in Jaipur, Jodhpur, Agra, Ajmer, Kundli and Panipat and other cities to improve the real estate development in the country. In 2010-11, the company is planning to launch an area of million square feet in a commercial project in Lucknow for office buildings and a mall.
In addition, real estate major DLF has announced that builders and Construction Carafa has increased its stake in DLF Assets (DAL) to 91 percent. Carafe is involved in acquiring and developing real estate in India. The lease company has four rental properties in Gurgaon, Kolkata and Chandigarh. DAL is a co-developer of four IT / ITES special economic zones (EEZ), based in Delhi, Gurgaon, Chennai and Hyderabad.
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