http://www.articletrader.com/ Articles at ArticleTrader en-us http://www.articletrader.com/finance/real-estate/indian-real-estate-on-top.html http://www.articletrader.com/finance/real-estate/indian-real-estate-on-top.html Tue, 24 Apr 2007 00:00:00 -0500
At 50.2% and 33.3%, respectively, they are next only to Me’ouyan Soreq in Israel, which has seen an 87.5% increase. According to Cushman & Wakefield’s annual report on Industrial Space across the World, two other Indian cities, Bangalore and Hyderabad, figure in the top 12 with rental jumps of 25% and 23.1%, respectively.

In terms of industrial rentals, according to the study, New Delhi has moved nine places to the 14th position, a jump which Sanjay Verma, Cushman & Wakefield, Executive MD (South Asia) attributes to the boom in the manufacturing sector.

“Manufacturing is undergoing a renaissance in India. As export volumes are rising rapidly, the sector is becoming increasingly attractive. This is backed by the availability of private capital, strong domestic demand and a large pool of skilled and unskilled labour. The central government is continuing with its legislative reforms and infrastructure improvements,” he says.

Further, the report states, space shortage has pushed up rents in Mumbai and New Delhi, which has led to the shifting of manufacturing and logistics activities to industrial parks outside the main cities. “Meanwhile, international manufacturers in sectors such as automobile, bio-tech, pharmaceutical and telecoms are, particularly favouring the setting up of operations in the economically flourishing states of Gujarat, Maharashtra, Andhra Pradesh and Tamil Nadu,” adds Mr. Verma.

If, the report, compiled and based on a survey conducted by Cushman & Wakefield across 45-countries is to be believed, the area around London’s Heathrow airport retains the world’s most expensive industrial location tag, followed by Israel’s Me’ouyan Soreq district and Tokyo.

A spokesperson for the real estate consultancy explains how the report is put together: “The main global ranking is compiled by taking the most expensive location in Euro terms in each of these 45 countries monitored.”


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Source: http://www.articletrader.com ]]> http://www.articletrader.com/business/dlf-and-prudential-financial-inc.-announce-india-life-insurance-joint-venture.html http://www.articletrader.com/business/dlf-and-prudential-financial-inc.-announce-india-life-insurance-joint-venture.html Wed, 14 Mar 2007 00:00:00 -0500
Subject to regulatory approval from the Insurance Regulatory and Development Authority, the new joint venture company, DLF Pramerica Life Insurance Company Ltd. (“DLF Pramerica”), will be established in the coming months and will offer life insurance products to customers in India.

“With more than 130 years of experience in delivering life insurance and financial products around the world and an outstanding reputation, Prudential is the perfect partner to work with us to establish a market-leading and highly differentiated life insurance business in India,” said Rajiv Singh, DLF Vice Chairman. “The combination of Prudential insurance expertise and the DLF brand will provide the strongest possible foundations for DLF Pramerica to succeed in India’s rapidly growing life insurance market.”

“India’s rapid development has created new opportunities for people seeking to protect their families using life insurance products,” said Rodger Lawson, Prudential Financial’s Vice Chairman, responsible for the International Division. “We are delighted to work with a partner like DLF to deliver the benefits of life insurance products to Indian customers who for the most part continue to be under-insured and under-served.”

Under the terms of the agreement, DLF will have a 74 percent stake and PFI a 26 percent stake in DLF Pramerica.

The DLF Group is a leading name in India’s real estate industry. The Group’s existing range of business verticals spanning across the homes, offices, and shopping malls reflects an expertise gathered over a period of six decades. The group is now venturing into special economic zones (SEZs), hotels and infrastructure, which in conjunction with the three existing verticals, will contribute towards ‘Building a new India’. For more information, please visit www.dlf-group.com.

Pramerica is a brand name used in select countries by Prudential Financial, Inc. Prudential Financial, Inc. a financial services leader with approximately $616 billion of assets under management as of December 31, 2006, has operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential Financial is focused on helping individual and institutional customers grow and protect their wealth. The company’s well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential Financial’s businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.



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Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/indian-real-estate-boom-times.html http://www.articletrader.com/finance/real-estate/indian-real-estate-boom-times.html Tue, 21 Nov 2006 00:00:00 -0600
Real estate prices may be booming, but it may not be the best time to sell your house, unless there is a spanking new apartment you want to buy, or else you are willing enough to put money in the government’s pocket by paying tax.

It is, unlikely, the government will grant capital gains tax exemption to new bond issues this year, which means a large number of people who cashed in on the housing boom, will have to pay more tax.

Earlier, if you bought an apartment for, say, Rs. 15-lakh and sold it off for Rs. 30-lakh, you could have avoided paying the 22% capital gains tax if the profit (Rs. 15-lakh) was used for buying a new house within three years of sale. Alternatively, you could have invested it in bonds issued by the likes of National Housing Bank, National Highways Authority of India, Nabard or Rural Electrification Corporation (REC).

However, this year onwards, finance minister P Chidambaram has decided to restrict the benefit to investment in NHAI and REC bonds, fixing a Rs. 6,500 crore cap. In the present scenario, it is best to wait and see what else is in store, before selling your house for a profit, only to pay a large part of it back to the government.



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Source: http://www.articletrader.com ]]>