Morgan Stanley arm shelves project with Wadhwa Group

Written by Jayanta Friday, 11 October 2013

( 0 Votes )MUMBAI: The real estate fund of Morgan Stanley has abandoned plans to invest nearly $200 million (about Rs 1,240 crore) in an upcoming commercial real estate project in Mumbai after the rupee’s recent plunge against the dollar made the deal unrewarding , three people familiar with the development said. Morgan Stanley Real Estate Fund was...

Canara Bank launches two new housing schemes for NRIs, HNIs

Written by Jayanta Friday, 04 October 2013

( 0 Votes )NEW DELHI: State-owned Canara Bank today launched two new housing schemes for Non-Resident Indians (NRIs) and High Networth Individuals (HNIs), in a bid to cash in on the festive fervour. The demand from NRIs for houses has increased considerably and enquiries with regard to housing loans from NRIs with builders have grown by 20 per cent at...

Salaried real estate investors in mess as loan cost pinches

Written by Jayanta Thursday, 03 October 2013

( 0 Votes )The deepening economic slowdown, rising cost of living and low wage revisions, coupled with higher interest rares, are forcing salaried professionals who had earlier invested in properties to put them up for sale, say industry experts. People who had invested in properties some 10-15 years ago are now finding it difficult to service their home...

DIPP circulates Cabinet note on relaxing FDI in housing sector

Written by Jayanta Tuesday, 01 October 2013

( 0 Votes )The Department of Industrial Policy and Promotion (DIPP) has circulated a draft Cabinet note on relaxing foreign direct investment (FDI) norms for the housing sector, which proposed easing the three-year lock-in period among other things. The draft note has proposed easing the three-year lock-in period for FDI in housing and townships, besides it...