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Tuesday, May 15, 2007

FDI in Real Estate Kolkata

Eden Realty Ventures Private Limited, led by US-based Indrajit De in collaboration with London-based REIT Asset Management is planning $20 million investment in two mini-townships at Bonhooghly in north and Maheshtala in south in greater Kolkata area in the next three years.

Along with two projects in Real Estate Kolkata , REIT, the London-based real estate management trust, owns $6.8 billion worth assets in Europe is operating its projects at Pune also which is a 100 percent FDI.

The two projects in Kolkata might be the highest cash investment in the form of FDI by any foreign company on real estate in the state.

Eden Realty managing director Sachchidanand Rai said,"We will be giving about 800 flats free to the equal number of refugee families living there now in a deplorable state. The flats would be much bigger than they are living now and they would also be provided open parking space for 200 cars besides community facilities like club, gym, treated water, good sewerage. While 6 acres would be for rehabilitation with not even stamp duty fee, the remaining 12 acres would be commercially developed with 25 tall buildings offering 1476 flats. We will also beautify the lake inside."

Monday, May 7, 2007

FDI Increase in Real Estate India

The international players who are interested in real estate india feel happy as indian government is going to allow foreign direct investment (FDI) up to 49% secondly they can avail tax benefits for real estate mutual funds which is going to be a reality very soon.

A guidline is in the final state in the pipeline of Sebi which will allow retail investors to enjoy the remuneration of booming domestic real estate market by owning a piece of it.


REITs is the organization constituted by many companies which is engaged in buy, sell, manage and develop real estate assets. So investors who want a pastry of real estate market action can buy shares in a REIT. The income made by the REIT from its property investments will be distributed to these share holders also.


A Sebi official said, “We are waiting for Amfi and ICAI to give us the final suggestions about NAV calculation and disclosures.Once that’s done, we will announce the final guidelines for realty funds. NAVs and disclosures have been the bone of contention for the officials framing policy on such funds.”

To evaluate the value of real estate property at a regular interval is a difficult task which is also depend upon the valuer also. Sebi is also likely to announce which entities would be allowed to launch such a fund and the minimum investment amount for investors.