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                         <description>CREDAI-NCR NEWS</description>   
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            <title><![CDATA[Sahara announces partners for residential projects]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1313</link>
			<source>Business Standard</source>
			<pubDate>Tue, 06 Jan 2009 21:13:10 -0500</pubDate>
			<description><![CDATA[Business Standard- Sahara Prime City, the real estate arm of Sahara India, has appointed different construction companies for developing residential blocks at Sahara City Homes.
The projects are the part of Sahara’s chain of 217 townships to be developed across India. Each township is spread over 100-300 acres. Development of the townships is taking place in phased manner.]]></description>
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            <title><![CDATA[Interest subsidy scheme for housing of urban poor]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1312</link>
			<source>Business Standard</source>
			<pubDate>Tue, 06 Jan 2009 21:12:06 -0500</pubDate>
			<description><![CDATA[Business Standard- Aiming at boosting the construction of houses for economically weaker section (EWS) of society, a new scheme for providing interest subsidy has been approved. The operational modalities of the scheme are being worked out. The scheme is expected to address the issues of availability and affordability of institutional loans to EWS and LIG in urban areas.]]></description>
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            <title><![CDATA[2nd boost good, could have been better: Pune Inc]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1311</link>
			<source>The Times of India</source>
			<pubDate>Tue, 06 Jan 2009 21:10:46 -0500</pubDate>
			<description><![CDATA[The Times of India- Much like their counterparts across the nation, the industrial heads in the city, too, have reacted positively to the economic and financial relief package announced by the central government on Friday. However, many feel that the steps are rather halfhearted and limited in size when compared to the magnitude of the problem.]]></description>
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            <title><![CDATA[Home loans for poor get cheaper]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1310</link>
			<source>The Hindustan Times</source>
			<pubDate>Tue, 06 Jan 2009 21:09:09 -0500</pubDate>
			<description><![CDATA[The Hindustan Times- The poor can soon avail of house loans at low interest rates. Close on the heels of public sector banks announcing a lowering of interest rates on house loans up to Rs 51akh to 8.5 per cent, the government has decided to provide an additional 5 per cent interest subsidy on loans up to Rs 1 lakh. A poor person taking a loan of up to Rs 1 lakh from a public sector bank or HUDCO at 8.5 percent interest, as has been announced by public sector banks as part of a new interest regime, will get additional 5 per cent government subsidy]]></description>
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            <title><![CDATA[AP to build over 25 lakh houses]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1309</link>
			<source>The Hindu Business Line</source>
			<pubDate>Tue, 06 Jan 2009 21:07:17 -0500</pubDate>
			<description><![CDATA[The Hindu Business Line- The Andhra Pradesh Government will spend Rs 8,025 crore in building over 25 lakh houses under the third phase of Indiramma housing prorgamme. The State Cabinet at its meeting held here on Monday approved the allotment of funds for the programme]]></description>
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            <title><![CDATA[US-based hedge fund QVT Financial opposes Hirco&#039;s restructuring]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1308</link>
			<source>The Economic Times</source>
			<pubDate>Tue, 06 Jan 2009 21:05:18 -0500</pubDate>
			<description><![CDATA[The Economic Times- US-based hedge fund QVT Financial LP has strongly opposed Hirco Plc&#039;s proposal to merge two Indian subsidiaries of the Hiranandani group with itself. QVT holds a minority stake in Hirco, a real estate fund floated by the Mumbai-based developer Hiranandani group in the Alternative Investment Market (AIM) of London. Hirco has called an extra-ordinary general meeting on January 16 in Mumbai to seek the shareholders nod for the proposed merger.]]></description>
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            <title><![CDATA[Developers to reserve 20% space for EWS]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1307</link>
			<source>The Economic Times</source>
			<pubDate>Tue, 06 Jan 2009 21:03:31 -0500</pubDate>
			<description><![CDATA[The Economic Times- Developers may soon have to reserve 20% of the space in their housing projects for economically weaker section (EWS) of the society. Union housing minister Kumari Selja is all set to hold a meeting with state governments urging them to ensure reservation of developed land for EWS in housing projects.]]></description>
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            <title><![CDATA[Realty, infra firms say bank loans key to recovery]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1306</link>
			<source>The Economic Times</source>
			<pubDate>Tue, 06 Jan 2009 21:01:49 -0500</pubDate>
			<description><![CDATA[The Economic Times- Real estate and infrastructure firms do not expect the fiscal and monetary measures announced last week to help them much unless banks boost lending, improving demand in the embattled sectors. India&#039;s central bank slashed two key short-term interest rates by 100 basis points and the federal government eased rules for foreign borrowings by the two sectors, which the firms hope will bring in more customers and ease a cash crunch.]]></description>
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            <title><![CDATA[Lower home loan exposure advisable]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1305</link>
			<source>The Economic Times</source>
			<pubDate>Tue, 06 Jan 2009 20:58:38 -0500</pubDate>
			<description><![CDATA[The Economic Times- The softening in real estate prices, which are now down in most places by as much as 25%, has not been the best piece of news for existing home loan borrowers. This is thanks to the “depreciation of security” clause that is mentioned in home loan agreements.]]></description>
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            <title><![CDATA[All city housing projects to leave space for poor]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1303</link>
			<source>The Times of India</source>
			<pubDate>Mon, 05 Jan 2009 21:29:45 -0500</pubDate>
			<description><![CDATA[The Times of India- Lakhs of people working as maids, helpers, security guards, sweepers and vendors in the capital can finally hope to have their own houses near the affluent colonies they provide services to. Delhi, along with 40 other cities, has agreed to a new Union housing ministry policy to ensure “adequate reservation’’ of developed land for economically weak and low income groups in housing projects.]]></description>
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            <title><![CDATA[Bengal finalising master plan for Newtown]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1302</link>
			<source>The Hindu Business Line</source>
			<pubDate>Mon, 05 Jan 2009 21:27:46 -0500</pubDate>
			<description><![CDATA[The Hindu Business Line- Taking lessons from the unplanned and haphazard urban construction in areas such as Behala, Dum Dum and parts of Garia, the West Bengal Government is trying to finalise a master plan for construction on the fringes of the developing area of Rajarhat – Newtown. The master plan, to be prepared by the Bhangar Rajarhat Area Development Authority (BRADA), would contain guidelines for private developers on construction norms as well as modalities of common infrastructure development to be fulfilled.]]></description>
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            <title><![CDATA[More to housing than meets the eye]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1301</link>
			<source>The Hindu Business Line</source>
			<pubDate>Mon, 05 Jan 2009 21:26:35 -0500</pubDate>
			<description><![CDATA[The Hindu Business Line- The quality of housing determines the style of living; it is the biggest investment that most households make. As the recent meltdown in the US and elsewhere has shown, housing is a critical component of national infrastructure and any mismanagement is fraught with very grave consequences. In India, we have been particularly forgetful of housing as an essential and critical feature of socio/economical life of the country. That is why it is important to consider how to house our population. With a population of a little over a billion and a family size slightly in excess of five, the country needs at present around 200 million dwellings.]]></description>
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            <title><![CDATA[Realtors woo disappointed DDA applicants]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1300</link>
			<source>The Hindu Business Line</source>
			<pubDate>Mon, 05 Jan 2009 21:23:57 -0500</pubDate>
			<description><![CDATA[The Hindu Business Line- A just-concluded mega Delhi Development Authority (DDA) scheme has brought an unexpected upside for demand-starved real estate industry. The eliminated applicants of the coveted scheme – that saw over five lakh aspirants slug it out for 5,200 flats – are now turning to private builders, particularly in Delhi NCR, to hunt for bargains. This has led to nearly 15-20 per cent spike in residential enquiries in the region, a sharp contrast to an otherwise sluggish housing market across India.]]></description>
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            <title><![CDATA[DDA draw may be shelved]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1299</link>
			<source>The Times of India</source>
			<pubDate>Mon, 05 Jan 2009 21:22:00 -0500</pubDate>
			<description><![CDATA[The Times of India- While the news of the suspected scam in allotment of DDA flats caused outrage among those who missed out, there is now some bad news for the lucky ones who made it. The Union urban development ministry is toying with the idea of cancelling the entire draw if the inquiry proves that the alleged foul play was more widespread than is presently being suspected.]]></description>
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            <title><![CDATA[Rights of property buyer]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1298</link>
			<source>The Economic Times</source>
			<pubDate>Mon, 05 Jan 2009 21:19:51 -0500</pubDate>
			<description><![CDATA[The Economic Times- A buyer of a property has some rights and liabilities . According to the Transfer of Property Act, a buyer of a property is entitled to some rights and has some responsibilities, which need to be fulfilled statutorily.]]></description>
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            <title><![CDATA[Real estate industry to change alignment]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1297</link>
			<source>The Economic Times</source>
			<pubDate>Mon, 05 Jan 2009 21:17:07 -0500</pubDate>
			<description><![CDATA[The Economic Times- The real estate industry around the world has developed in the same manner till now. Real estate agents have graduated into real estate developers who undertake to do the dirty of work of getting licenses and mutating the land from either agricultural to residential urban or into commercial urban. The expertise is more often than not in dealing with specific documents , which are either vetted of generated by the local agency or body of government with their particular rules and methods.]]></description>
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            <title><![CDATA[Top up your house with another floor]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1296</link>
			<source>The Economic Times</source>
			<pubDate>Mon, 05 Jan 2009 21:14:32 -0500</pubDate>
			<description><![CDATA[The Economic Times- The ministry of housing is considering a proposal that may allow home owners to add extra floor beyond prevailing norms on their existing properties by paying a fee to the local body. The money will be used for providing affordable housing to the economically weaker section. The proposal is based on the recommendations of the high-powered task force on affordable housing chaired by HDFC chairman Deepak Parekh.]]></description>
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            <title><![CDATA[Zero stamp duty for SEZs under lens]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1295</link>
			<source>The Economic Times</source>
			<pubDate>Mon, 05 Jan 2009 21:13:03 -0500</pubDate>
			<description><![CDATA[The Economic Times- The validity of stamp duty exemption given to special economic zones (SEZs) and SEZ units has come under the scanner of the law ministry. It has asked the finance ministry to explain the position it took on the issue when the SEZ Act and rules were being drafted. A number of state governments have questioned the Centre’s powers to exempt SEZs and units from paying stamp duty as they consider it a state subject.]]></description>
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            <title><![CDATA[Govt sets ball rolling, will realty cos slash prices?]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1294</link>
			<source>The Economic Times</source>
			<pubDate>Mon, 05 Jan 2009 21:11:23 -0500</pubDate>
			<description><![CDATA[The Economic Times- Real estate developers, responding to market demand and the loan incentives given by the government, 
have started focusing on budget homes. While there are still various issues to be sorted out, the ones that have hit the market with budget homes are smiling all the way to the bank.]]></description>
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            <title><![CDATA[Planning a home buy? Do it in first 3 months of 2009]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1293</link>
			<source>The Economic Times</source>
			<pubDate>Mon, 05 Jan 2009 21:07:49 -0500</pubDate>
			<description><![CDATA[The Economic Times- residential prices are likely to stabilise from April onwards with fears of deflation looming large over the Indian economy. Moreover, the persistent decrease in the general price level of goods and services is likely to bring down interest rates to affordable levels, which will mean that the pendulum will shift from a buyers’ market to a sellers’ market, from April. With real estate developers expected to further cut prices over the next three months, experts feel that this is the best time to let their indecisiveness work to your advantage.]]></description>
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            <title><![CDATA[Inflation and home loan rates]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1292</link>
			<source>The Economic Times</source>
			<pubDate>Mon, 05 Jan 2009 21:05:33 -0500</pubDate>
			<description><![CDATA[The Economic Times- The unpredictable rate movements, the Reserve Bank of India&#039;s (RBI) moves and mixed response from the lenders has put borrowers in some confusion. The inflation monster which had pushed prices to unimaginable highs has finally been tamed. From as high as 12.91 percent this year, the inflation rate has almost come down to half of that. Does this mean borrowers can expect banks to reduce their home loan rates, if this trend persists.]]></description>
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            <title><![CDATA[REITs lose the right choice tag]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1291</link>
			<source>The Economic Times</source>
			<pubDate>Mon, 05 Jan 2009 21:02:37 -0500</pubDate>
			<description><![CDATA[The Economic Times- They were supposedly one of the hottest investment avenues last year. But REITs or real estate investment trusts seem to have disappeared from the lexicon of fund managers and realtors. Not surprising, considering the simultaneous slump in the property and stock markets. REITs were being talked about as the perfect blend of mutual funds and real estate that spared investors of the pangs of daily fluctuations in share prices, allowed them small-ticket investments in the fast growing property market, and helped diversify their portfolio. For the realtors, it offered an alternative platform for raising capital.]]></description>
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            <title><![CDATA[Buying a home? Better deals this year]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1290</link>
			<source>The Hindustan Times</source>
			<pubDate>Sat, 03 Jan 2009 21:03:38 -0500</pubDate>
			<description><![CDATA[The Hindustan Times- IT WAS surging realty rates that priced out many buyers in 2007, and 2008 got even worse with high interest rates and inflation making a home of your own more elusive. All that may just reverse this year. Property prices have already seen some correction and are likely to ease further this year. Home loan rates are headed back to where they were in 2003 that&#039;s when the last realty boom started.]]></description>
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            <title><![CDATA[Agent Of Change - &#039;My firm will take the lead in affordable housing&#039;]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1289</link>
			<source>The Hindustan Times</source>
			<pubDate>Sat, 03 Jan 2009 20:57:37 -0500</pubDate>
			<description><![CDATA[The Hindustan Times- Affordable houses for the middle class in the range of Rs 10 lakh (one bhk), Rs 20 lakh (two bhk) and Rs 30 lakh (three bhk) is possible. National Building Construction Corporation (NBCC) will not hesitate to take the lead. This will go a long way in satisfying the urban need.]]></description>
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            <title><![CDATA[Homes that won&#039;t hurt]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1288</link>
			<source>The Hindustan Times</source>
			<pubDate>Sat, 03 Jan 2009 20:54:24 -0500</pubDate>
			<description><![CDATA[The Hindustan Times- A Roof for every indian that&#039;s not asking for much in a country, which is seeking to become a global economic powen boasts of technological prowess as the world&#039;s outsourcing hub and has a vast pool of scientific talent. Yet, housing for all has remained an elusive goal The current economic crisis offers another opportunity to take that dream closer to reality The slump in realty precipitated by the global oconomic meltdown, has already driven many developers to increasingly look to build houses that middie-class families can afford.]]></description>
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            <title><![CDATA[4,000 low-cost flats to come up in Greater Noida]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1287</link>
			<source>The Hindustan Times</source>
			<pubDate>Sat, 03 Jan 2009 20:49:37 -0500</pubDate>
			<description><![CDATA[The Hindustan Times- THE GREATER Noida authority is to construct 4,000 low-cost multistoried flats for domestic help and service-sector workers. The authority has also given additional benefits to Group housing projects to provide low-cost housing. The Authority plans to construct low-cost houses for domestic workers and service industry personnel, who require residences nearest to their workplace as they cannot afford huge spending on conveyance alone.]]></description>
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            <title><![CDATA[Single window to make land registration easier]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1286</link>
			<source>The Times of India</source>
			<pubDate>Sat, 03 Jan 2009 20:45:45 -0500</pubDate>
			<description><![CDATA[The Times of India- The state government is setting up a single window system wherein registration, land records as well as mutation and cadastral surveys by the state department of registration and stamps will be available under one roof. All this, however, will come for a price as the department plans to charge a service fee for this ‘valuefor-money’ concept.]]></description>
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            <title><![CDATA[ECB funds set to kickstart realty growth]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1285</link>
			<source>The Times of India</source>
			<pubDate>Sat, 03 Jan 2009 20:44:44 -0500</pubDate>
			<description><![CDATA[The Times of India- The second economic stimulus package announced by the government has some good news for the troubled real estate sector. The fund-starved sector would be now permitted to tap the external commercial borrowing route to raise money, subject to the Reserve Bank of India approval, provided the money is used for the development of integrated townships. There would also be a dialogue between the central and state governments to release more land for the low and middle income housing. Coupled with these, the RBI’s easing monetary stance, signalling a lower interest rate regime, also is good news for the beleaguered sector.]]></description>
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            <title><![CDATA[Was Delhi govt housing draw rigged?]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1284</link>
			<source>The Times of India</source>
			<pubDate>Sat, 03 Jan 2009 20:43:21 -0500</pubDate>
			<description><![CDATA[The Times of India- Was the recent draw of 5,010 houses by the Delhi Development Authority (DDA) rigged? Documents in possession of TOI raise serious doubts about the integrity of the ‘lucky draw’ process by which DDA selected the beneficiaries out of lakhs of applicants, triggering fears of a repeat of the scam in neighbouring Noida where authorities allegedly rigged the lottery for plots in premium sectors.]]></description>
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            <title><![CDATA[Slowdown puts Dharavi plan on shaky ground]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1283</link>
			<source>The Times of India</source>
			<pubDate>Sat, 03 Jan 2009 20:42:06 -0500</pubDate>
			<description><![CDATA[The Times of India- The global economic slowdown seems to have taken its toll on the ambitious Dharavi makeover plan. The Maharashtra Housing and Area Development Authority (Mhada), which is executing the project, is worried after two groups, which had earlier evinced interest in the plan, backed out.]]></description>
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            <title><![CDATA[Home &amp; corporate loans to get cheaper]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1282</link>
			<source>The Economic Times</source>
			<pubDate>Sat, 03 Jan 2009 20:40:36 -0500</pubDate>
			<description><![CDATA[The Economic Times- Home loan and corporate borrowers have something to cheer about early in the year. Interest rates on home and other loans, particularly for corporates, are set to fall soon. The Reserve Bank of India (RBI) has cut its key policy rate by one percentage point, signalling a reduction in banks’ lending rate. This time, banks that many corporates still see as reluctant to lend, have reacted swiftly. Union Bank of India was the first to announce a 25-75 basis point cut in deposit rates across maturities on Friday night.]]></description>
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            <title><![CDATA[Sluggish real estate sector may come to life again]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1281</link>
			<source>The Economic Times</source>
			<pubDate>Sat, 03 Jan 2009 20:38:53 -0500</pubDate>
			<description><![CDATA[The Economic Times- Reserve Bank of India’s (RBI) latest round of interest rate cuts together with the government’s fiscal stimulus package may prod some home buyers to return to the moribund housing market, but industry officials say the steps may not be enough to revive the market. Some developers say the moves do little to specifically address the realty sector’s main source of troubles credit flow to developers.]]></description>
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            <title><![CDATA[RBI cuts key rates to stimulate economy]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1280</link>
			<source>The Economic Times</source>
			<pubDate>Sat, 03 Jan 2009 20:36:52 -0500</pubDate>
			<description><![CDATA[The Economic Times- The Reserve Bank of India on Friday cut key policy rates. The repo and the reserve repo rate under the liquidity adjustment facility (LAF) has been cut by 100 basis points while cash reserve ratio (CRR) has been reduced by 50 bps. Following this move, reverse repo stands at 4%, repo stands at 5.5% and CRR now stands at 5%. The cut in CRR will infuse Rs 20,000 crore in the system.]]></description>
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            <title><![CDATA[Urban development ministry seeks lower home loan rates]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1279</link>
			<source>The Economic Times</source>
			<pubDate>Sat, 03 Jan 2009 20:35:49 -0500</pubDate>
			<description><![CDATA[The Economic Times- Urban development ministry has called for additional government measures, including cuts in home loan rates, to revive the country&#039;s crumbling real estate sector. Commerce minister Kamal Nath had last month said the government was looking at more steps to boost liquidity, and mulling steps to help exporters and the real estate and infrastructure sectors as part of the fresh package.]]></description>
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            <title><![CDATA[Banks may cut lending, deposit rates further after RBI steps]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1278</link>
			<source>The Economic Times</source>
			<pubDate>Sat, 03 Jan 2009 20:34:15 -0500</pubDate>
			<description><![CDATA[The Economic Times- After a fresh dose of monetary measures on Friday, home, consumer and corporate loans are likely to soften further with a steep one per cent cut in key short-term rates and injection of Rs 20k-crore liquidity into the system. With this, RBI has got Rs 3 lakh crore injected into the financial system through various measures since October.]]></description>
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            <title><![CDATA[Era Infra gets projects worth Rs 294 cr]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1277</link>
			<source>The Economic Times</source>
			<pubDate>Sat, 03 Jan 2009 20:32:42 -0500</pubDate>
			<description><![CDATA[The Economic Times- Era Infra Engineering said on Friday it has received four contracts worth a total Rs 294 cr. The contracts include the construction of a hostel in Calicut, Kerala, a hospital and an athletics training centre in New Delhi and a college campus in Punjab.]]></description>
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            <title><![CDATA[Allahabad Bank cuts PLR rate by 75 basis points]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1276</link>
			<source>The Economic Times</source>
			<pubDate>Sat, 03 Jan 2009 20:31:37 -0500</pubDate>
			<description><![CDATA[The Economic Times- Soon after the Reserve Bank announced cut in key policy rates, state-run Allahabad Bank on Friday announced reduction in the benchmark lending rate by 75 basis points to 12.5 per cent, with effect from January 5. The bank has decided to reduce its Benchmark Prime Lending Rate (BPLR) from 13.25 per cent to 12.5 per cent. The bank last reduced the BPLR by 75 basis points to 13.25 per cent in November, 2008.]]></description>
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            <title><![CDATA[Now, send an SMS to pay your property tax]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1275</link>
			<source>The Times of India</source>
			<pubDate>Fri, 02 Jan 2009 20:25:38 -0500</pubDate>
			<description><![CDATA[The Times of India- The new service, activated from January 1, promises to reach up to 14 lakh citizens. Now, they can buy an ITZ card—which acts like a pre-paid mobile card and has a fixed balance—to pay their dues. The next step is to send an SMS to 57575 with one’s details, including name and address. This message reaches the BMC’s IT control room, following which the user gets a reply, mentioning the pending amount. The user can then make the payment by typing in the transaction number of the ITZ card and the amount. He gets a confirmation message immediately and the receipt for the transaction is couriered to him the same day.]]></description>
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            <title><![CDATA[Civic body will not begin sealing process yet]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1274</link>
			<source>The Hindustan Times</source>
			<pubDate>Fri, 02 Jan 2009 20:11:21 -0500</pubDate>
			<description><![CDATA[The Hindustan Times- THE MUNICIPAL Corporation of Delhi (MCD) has said it will not start a special drive for sealing from Friday. With the ending of the protection under the Special Provision Act 2007 on December 31, lakhs of properties are now facing the threat of sealing. The MCD has, however, claimed the government has assured them a new ordinance will be brought in soon and hence there is no need for a special drive.]]></description>
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            <title><![CDATA[Help us: Games village developer’s SOS to DDA]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1273</link>
			<source>The Hindustan Times</source>
			<pubDate>Fri, 02 Jan 2009 20:05:19 -0500</pubDate>
			<description><![CDATA[The Hindustan Times- The Commomwealth Games village project coming up behind Akshardham temple along NH24, where 8,500 athletes and dele gates will be accommodated, seems to be in trouble once again. With just 18 months to go for the 2010 Games that the Capital is hosting, Emaar-MGF—the Dubai-based real estate developer, which bagged the games village—has written to Delhi Development Authority (DDA) saying it is facing a financial crunch and has sought a loan from the authority to complete the project. In a letter dated December 22, the DDA refused loan to Emaar MGF on the grounds that it was against the contract agreement.]]></description>
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            <title><![CDATA[ITAT ruling likely to boost city redevelopment]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1272</link>
			<source>The Economic Times</source>
			<pubDate>Fri, 02 Jan 2009 19:45:42 -0500</pubDate>
			<description><![CDATA[The Economic Times- From now on, tax cannot be levied on the money paid by a builder to a housing society or private individual for redevelopment of property, the Income Tax Appellate Tribunal (ITAT) has said in a recent order. The verdict is expected to give a boost to the redevelopment business in Mumbai which has over 35,000 buildings slated for redevelopment. The income-tax department has been sending notices to housing societies, which are in the process of redevelopment, demanding that tax be paid on the amount paid by the builder to the society.]]></description>
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            <title><![CDATA[Akruti flashes rent guarantee card to woo home buyers]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1271</link>
			<source>The Economic Times</source>
			<pubDate>Fri, 02 Jan 2009 19:41:58 -0500</pubDate>
			<description><![CDATA[The Economic Times- Realty firm Akruti Developers is wooing home-buyers to invest in its serviced studio-apartments project by offering a rent guarantee scheme to potential buyers. The proposed project — Afallon — will come up in the Whitefield technology hub, in close proximity to the International Tech Park. With apartments priced under Rs 30 lakh, Bangalore-based Akruti says the project is targeted at young professionals who would benefit from investing in an asset and earn a regular income from it.]]></description>
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            <title><![CDATA[Leela to launch three new hotels in 2009]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1270</link>
			<source>The Economic Times</source>
			<pubDate>Fri, 02 Jan 2009 19:33:19 -0500</pubDate>
			<description><![CDATA[The Economic Times- The Leela Hotel Group has planned to launch three new hotels in 2009, its Chairman C P Krishnan Nair said. The Leela, Hotel and Residences in Gurgaon (near Delhi) in January 2009 and The Leela Palace, Udaipur shortly thereafter. The Leela Palace, Chennai will open in late 2009.]]></description>
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            <title><![CDATA[Hiranandanis may now walk into a corporate governance controversy]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1269</link>
			<source>The Economic Times</source>
			<pubDate>Fri, 02 Jan 2009 19:28:03 -0500</pubDate>
			<description><![CDATA[The Economic Times- Hirco, the AIM-listed real estate fund of the Hiranandani group, finds itself in the midst of a corporate governance controversy. Several shareholders are likely to oppose Hirco’s proposal to acquire two estate projects owned by the group. On December 18, the Hirco board had approved the acquisition of two special purpose vehicles (SPVs) owned by the Hiranandani family. These two companies are carrying out township developments at Panvel near Mumbai and Chennai. The merger, once implemented, would take the Hiranandani group’s holding in Hirco to over 50% from the existing 20%.]]></description>
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            <title><![CDATA[New year brings new tax: BBMP notification out]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1268</link>
			<source>The Times of India</source>
			<pubDate>Thu, 01 Jan 2009 20:53:15 -0500</pubDate>
			<description><![CDATA[The Times of India- The wait is finally over. The New Year begins with the much-expected BBMP’s draft notification with the zonal classification and the rental rates/Unit Area Value for the revised property tax. The details of the same will be up on the BBMP website www.bmponline.org by late Thursday afternoon.]]></description>
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            <title><![CDATA[Skyline delivers 22 residential projects in 2008]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1267</link>
			<source>The Hindu Business Line</source>
			<pubDate>Thu, 01 Jan 2009 20:30:59 -0500</pubDate>
			<description><![CDATA[The Hindu Business Line- The Kochi-based Skyline Builders, one of the leading home builders in Kerala, has set a record by delivering 22 residential projects in the State in 2008. At present, 21 projects are in various stages of completion and of this, 8 projects will be delivered in 2009. Skyline is about to launch three brand new projects in different parts of the State.]]></description>
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            <title><![CDATA[LIC Housing cuts lending rates by 75 bps]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1266</link>
			<source>Business Standard</source>
			<pubDate>Thu, 01 Jan 2009 20:25:17 -0500</pubDate>
			<description><![CDATA[Business Standard- LIC Housing Finance today announced a reduction of 75 basis points in interest rates for existing home loans with effect from tomorrow.
The reduction is on EMIs falling due on January 1, 2009 and payable on February 1, 2009, the company said in a statement. The move was consequent with a reduction in cost of funds, the company said.For new customers, LIC Housing Finance had already reduced interest rates from December 17. For loans up to Rs 20 lakh and up to five years, the lending rates stand at 9.25 per cent.]]></description>
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            <title><![CDATA[Tough year for real estate sector as demand dips]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1265</link>
			<source>Business Standard</source>
			<pubDate>Thu, 01 Jan 2009 20:20:51 -0500</pubDate>
			<description><![CDATA[Business Standard- On a high since 2005, the Indian property market discovered in 2008 what a descent is like, with demand, particularly for housing, falling by up to 50 per cent that triggered 15-20 per cent decline in prices. A high interest rate regime and economic slowdown, coupled with the ripple effect of the US subprime crisis cooled off the overheated realty sector to some extent, forcing developers to adopt cost-cutting measures, such as deferment of projects, salary cuts and layoff of employees.Developers, big or small, faced huge liquidity crunch as both end-users and investors shied away from the market. The sector&#039;s woes got further accentuated from the kind of battering it received at the stock market, with its share price falling like ninepins.]]></description>
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            <title><![CDATA[Omaxe bags Rs 200 cr order from Punjab govt]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1264</link>
			<source>Business Standard</source>
			<pubDate>Thu, 01 Jan 2009 20:16:04 -0500</pubDate>
			<description><![CDATA[Business Standard- Realty player Omaxe today said it has received an order worth Rs 200 crore from the Punjab government for construction related works. In a filing to the Bombay Stock Exchange, Omaxe informed that it has got in-principle approval for construction of two modern jails in Kapurthala and in Faridkot, Punjab for Rs 200 crore.]]></description>
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            <title><![CDATA[Retailers, realty cos form partnerships to beat slowdown]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1263</link>
			<source>The Financial Express</source>
			<pubDate>Thu, 01 Jan 2009 20:10:15 -0500</pubDate>
			<description><![CDATA[The Financial Express- With the current downturn is taking its toll on retail firms and real estate majors alike, both are planning to enter into ‘innovative partnerships’ in 2009 to shore up revenues. Retail and realty companies are in discussions on revenue sharing-based rental models, at a time when the former is straddled with diminishing footfalls, and the latter, with sluggish demand in the short term.]]></description>
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            <title><![CDATA[Housing finance companies to cut rates from January]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1262</link>
			<source>The Economic Times</source>
			<pubDate>Thu, 01 Jan 2009 19:59:41 -0500</pubDate>
			<description><![CDATA[The Economic Times- More new home loan borrowers with loan size below Rs 20 lakh are likely to get cheaper loans from institutional lenders from January 1. Following the leaders, the second-tier housing finance companies (HFCs) are also lining up special schemes for the sub-Rs 20 lakh loan category. This will bring cheer to a wider section of fresh borrowers.]]></description>
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            <title><![CDATA[ICICI Bank finally cuts home loan rates]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1261</link>
			<source>The Economic Times</source>
			<pubDate>Thu, 01 Jan 2009 19:55:11 -0500</pubDate>
			<description><![CDATA[The Economic Times- ICICI Bank has finally brought down its interest rates on home loans both for existing as well as new customers by 0.5%. In a statement the bank said that it has effected a reduction of 0.50% in its Floating Reference Rate (FRR) for home loans with effect from December 31, 2008. The revised FRR will be 13.75% p.a. as against 14.25% p.a. at present. All existing home and auto loan customers on floating interest raes will benefit from this reduction.]]></description>
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            <title><![CDATA[Bangalore leads in infotech space race]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1260</link>
			<source>The Times of India</source>
			<pubDate>Wed, 31 Dec 2008 20:24:16 -0500</pubDate>
			<description><![CDATA[The Times of India- Bangalore continues to be the number one destination for IT/ITeS companies in the country. For all those who thought Chennai and Hyderabad were eating into Bangalore’s status as the IT capital of India, here are some facts. The annual year-end report by global real estate consultants Cushman &amp; Wakefield shows that Bangalore witnessed the highest commercial space absorption in the country of 10.4 million sq ft — the highest in the country for the fifth consecutive year. Of that, IT and ITeS companies absorbed 88%, followed by automotive, telecommunications and other sectors.]]></description>
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            <title><![CDATA[CII suggests measures to boost realty sector]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1259</link>
			<source>The Times of India</source>
			<pubDate>Wed, 31 Dec 2008 20:18:36 -0500</pubDate>
			<description><![CDATA[The Times of India- The Confederation of Indian Industry (CII) has circulated a consultative note that stresses upon the need to give a major push to the country’s real estate sector through primary and supplementary measures. Among other things, the industry body has asked for an extension of municipal limits of the existing cities, simplification of procedures for conversion of land use from agriculture to non-agriculture, offering infrastructure status to township projects and a complete revision of the floor space index policy.]]></description>
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            <title><![CDATA[DDA may be asked to build 6,000 houses]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1258</link>
			<source>The Times of India</source>
			<pubDate>Wed, 31 Dec 2008 20:02:38 -0500</pubDate>
			<description><![CDATA[The Times of India- The inter-ministerial group, set up to expedite preparations for the 2010 Commonwealth Games, is considering a proposal to push Delhi Development Authority (DDA) to meet the accommodation shortage by constructing 6,000 houses for the mega event to be held in the Capital. The panel, headed by Union urban development minister S Jaipal Reddy, has met several times to review the progress of ongoing works for the creation of infrastructure and other facilities executed by various agencies. It has also discussed the cultural events to be held during the opening and closing ceremonies.]]></description>
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            <title><![CDATA[Oversupply in commercial real estate may continue in 2009]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1257</link>
			<source>The Hindu Business Line</source>
			<pubDate>Wed, 31 Dec 2008 19:51:06 -0500</pubDate>
			<description><![CDATA[The Hindu Business Line- The over-supply scenario that 2008 had witnessed in the commercial real estate space could well continue in 2009, says the annual year-end report by Cushman &amp; Wakefield, real estate services firm. While some companies, which had committed to larger spaces earlier, have scaled down their absorption as a prudent step to mitigate the cost on real estate others, which had taken up space based on anticipated expansion plans, are considering sub-leasing the excess space.]]></description>
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            <title><![CDATA[Fortunes of cement industry hinge on revival of real estate sector]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1256</link>
			<source>The Hindu Business Line</source>
			<pubDate>Wed, 31 Dec 2008 19:48:44 -0500</pubDate>
			<description><![CDATA[The Hindu Business Line- The cement industry seems to have come a full circle as the year draws to a close. Starting on a bullish note with prices touching historic high amid buoyant demand, cement industry slipped on to a sticky wicket as the realty sector was rattled by the unprecedented financial crunch.]]></description>
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            <title><![CDATA[Big retailers not keen to anchor new malls]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1255</link>
			<source>The Economic Times</source>
			<pubDate>Wed, 31 Dec 2008 19:35:07 -0500</pubDate>
			<description><![CDATA[The Economic Times- In what could make things worse for mall developers, big retailers, including Future Group, are now not too keen on being the first to open stores in new malls. Anchor tenants have traditionally been crucial to the success of malls. Large department stores or lifestyle chains, which usually occupy a significant chunk of retail space—sometimes as much as 25%—ease off pressure on mall developers.]]></description>
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            <title><![CDATA[Future Group set to buy Le Marche]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1254</link>
			<source>The Economic Times</source>
			<pubDate>Wed, 31 Dec 2008 19:31:17 -0500</pubDate>
			<description><![CDATA[The Economic Times- Indian retail major Future Group is set to buy out Le Marche, the hypermarket business of Fu-Com Retail India. Fu-Com India was set up by Fu-Com International, UAE-based retailing partners of the $30-billion French retail group Groupe Casino. Fu-Com Retail has also leased some prime real estate space, which will now be taken over by Future Group. Future Group’s value retailing business contributes to 62% of the group’s turnover.]]></description>
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            <title><![CDATA[MIDC on land buying spree amid slowdown]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1253</link>
			<source>The Economic Times</source>
			<pubDate>Wed, 31 Dec 2008 19:25:07 -0500</pubDate>
			<description><![CDATA[The Economic Times- At a time when demand for industrial land is declining due to the financial slowdown, the Maharashtra Industrial Development Corporation (MIDC) is looking for acquiring huge tracts of land for its various projects. MIDC has gone low key now that the economy is cooling although it is busy wooing European manufacturers from steel to paper industry to set up their shops here. Land acquisitionis still going on, with the MIDC currently negotiating for 1,400 hectares at Chakan near Pune. This includes land for MIDC-Bharat Forge SEZ. Meanwhile, the payment process is on for the 600 acres of land it acquired at Jalna.]]></description>
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            <title><![CDATA[New policy is ‘for people’]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1252</link>
			<source>The Times of India</source>
			<pubDate>Tue, 30 Dec 2008 20:18:06 -0500</pubDate>
			<description><![CDATA[The Times of India- Residents can heave a sigh of relief, almost. While the government is proposing a hike in property tax rates, transport minister R Ashok on Monday said the new system will be “peoplefriendly’’. The BBMP is expected to issue a notification in the next two days, after which the public will have 21 days to file suggestions and objections.]]></description>
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            <title><![CDATA[Housing can up GDP by 1.5%]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1251</link>
			<source>The Times of India</source>
			<pubDate>Tue, 30 Dec 2008 19:59:20 -0500</pubDate>
			<description><![CDATA[The Times of India- While admitting that any attempt to fix a definition for affordable housing for a country as large and diverse as India, using the concept of one-size-fits-all, would be counter-productive, the panel headed by HDFC chairman Deepak Parekh has sought to redefine housing parameters. It said EWS/LIG flats could be those between 300-600sqft, up from the earlier 250sqft for EWS and 300-325sqft for LIG. It suggested enhancing MIG limit to carpet area of 1,200 sqft, up from 650 sqft. The task force estimated that alleviating the urban housing shortage could raise the rate of GDP growth by at least 1-1.5% and have a huge impact on improving the quality of life.]]></description>
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            <title><![CDATA[Aparna Group to foray into affordable housing segment]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1250</link>
			<source>The Hindu Business Line</source>
			<pubDate>Tue, 30 Dec 2008 19:43:10 -0500</pubDate>
			<description><![CDATA[The Hindu Business Line- Aparna Constructions — which is in the process of raising 14 high rise towers through a special purpose vehicle (SPV) with Morgan Stanley, and another project with JP Morgan — is now considering a foray into affordable housing projects.The company is in the process of investing Rs 700 crore in a residential complex with 1,120 apartments, spread over a 17-acre site at the technology corridor near the Hitech City.]]></description>
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            <title><![CDATA[Real estate players bank on CPs]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1249</link>
			<source>Business Standard</source>
			<pubDate>Tue, 30 Dec 2008 19:33:06 -0500</pubDate>
			<description><![CDATA[Business Standard- Indian real estate and other manufacturing companies have stepped up borrowings through issuances of commercial papers (CPs) after the country’s central bank injected liquidity by cutting cash reserve ratio and as banks continue to shy away from extending loans. Cash-strapped real estate firms are resorting to short-term borrowings of funds to complete ongoing projects as the economic slowdown has virtually halted demand for properties, freezing cash flows.]]></description>
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            <title><![CDATA[ICICI Bank may cut rates by 50-75 bps in January]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1248</link>
			<source>The Economic Times</source>
			<pubDate>Tue, 30 Dec 2008 19:19:00 -0500</pubDate>
			<description><![CDATA[The Economic Times- ICICI Bank, the country’s largest private sector bank is all set to cut interest rates by 50-75 basis points across the board, making home and car loans cheaper in the new year. The decision to reduce interest rates comes on the back of the Reserve Bank’s cut in the repo and reverse repo earlier this month. Already, some public and private sector banks have announced rate cuts. Currently, ICICI’s prime lending rate (PLR) is 14.25%. Its home loan range spans 11.5-12.25% for floating rates while the fixed rate is around 15.5%.]]></description>
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            <title><![CDATA[Housing ministry proposes bonanza for small home buyers]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1247</link>
			<source>The Times of India</source>
			<pubDate>Mon, 29 Dec 2008 19:58:49 -0500</pubDate>
			<description><![CDATA[The Times of India- The housing ministry has proposed a veritable bonanza for first-time house buyers in the low and middle income groups, suggesting tax breaks, cap on prices and freeze on interest rates. It has also suggested a one-time debt-restructuring for realtors. The housing ministry, headed by Kumari Selja, has recommended to the PMO that the government should encourage dwelling units between 1,000-1,200 sq ft that cost a maximum of Rs 1,000 per sq feet.]]></description>
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            <title><![CDATA[GMADA to charge non-construction fee from land owners]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1246</link>
			<source>The Times of India</source>
			<pubDate>Mon, 29 Dec 2008 19:50:54 -0500</pubDate>
			<description><![CDATA[The Times of India- Greater Mohali Area Development Authority (GMADA) has decided to charge non-construction fee from the owners of over 1,300 residential plots in Mohali who have failed to start construction on their property in the given time, including the extension period that ends this month. The authority has been granting extension to these plot owners for the past three years.]]></description>
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            <title><![CDATA[Buyers’ market scenario emerging in real estate]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1245</link>
			<source>The Hindu Business Line</source>
			<pubDate>Sun, 28 Dec 2008 12:14:03 -0500</pubDate>
			<description><![CDATA[The Hindu Business Line- Is the real estate sector heading towards a buyers’ market just like the auto sector has turned into with plenty of choices, discounts and freebies doled out due to the slowdown? If the inputs from sector players and industry-trackers are anything to go by, it has already become a buyers’ market. While developers are cautious about admitting to price correction, the sector is witness to 15-20 per cent cuts already and there is potential for more.]]></description>
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            <title><![CDATA[NHB’s refinance drive]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1244</link>
			<source>The Hindu Business Line</source>
			<pubDate>Sun, 28 Dec 2008 12:10:23 -0500</pubDate>
			<description><![CDATA[The Hindu Business Line- The National Housing Bank has launched the Rs 4,000 crore refinance facility that the Reserve Bank of India had announced earlier this month to support home loans for affordable housing. The NHB is refinancing the housing finance institutions at 8 per cent. There has been an enthusiastic response and the entire refinance facility is likely to be used by the housing finance companies over the next 20 days.]]></description>
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            <title><![CDATA[Boom, bust… to hope]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1243</link>
			<source>The Hindu Business Line</source>
			<pubDate>Sun, 28 Dec 2008 12:07:42 -0500</pubDate>
			<description><![CDATA[The Hindu Business Line- The year 2008 will be remembered by the real-estate sector for the swing in fortunes — starting on a high note that continued from 2007, the market changed dramatically as demand for housing tapered off as the consequence of the international financial crisis and liquidity crunch. The slowdown was threatening employment generation and raised concerns of the adverse impact the slowdown in construction could have on related industries such as cement and steel. From the initial high, year-end saw the Government announcing a stimulus package to support the real-estate sector.]]></description>
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            <title><![CDATA[Unitech plans two product specific SEZs]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1242</link>
			<source>Business Standard</source>
			<pubDate>Sun, 28 Dec 2008 19:41:53 -0500</pubDate>
			<description><![CDATA[Business Standard- Unitech, the country&#039;s second largest realty firm, is planning to set up two special economic zones (SEZ) for automobiles and apparel sectors in Haryana and will soon approach the government for approval.At present, Unitech has seven notified SEZ projects in Kolkata, Gurgaon, Noida, Greater Noida, Tamil Nadu and Andhra Pradesh.]]></description>
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            <title><![CDATA[LIC Housing plans to disburse Rs 10,000 cr this fiscal]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1241</link>
			<source>The Economic Times</source>
			<pubDate>Sun, 28 Dec 2008 11:56:12 -0500</pubDate>
			<description><![CDATA[The Economic Times- LIC Housing (LICHF) is planning to disburse loans worth Rs 10,000 crore this fiscal, up from the Rs 7,100 crore last year. LIC Housing Finance, a fully-owned subsidiary of the Life Insurance Corporation of India, has so far approved over Rs 5,500 crore and already disbursed around Rs 4,500 crore.]]></description>
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            <title><![CDATA[Realty industry wakes up to reality: Bubble has burst]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1240</link>
			<source>The Economic Times</source>
			<pubDate>Sun, 28 Dec 2008 11:48:28 -0500</pubDate>
			<description><![CDATA[The Economic Times- The five-year boom in India&#039;s realty industry came to a crashing halt in 2008, following an acute liquidity crunch, falling sales and rising interest rates. As apartment prices shot through the roof, and interest rates soared, buyers turned away, which immediately hit sales. Subsequently, over the rest of the year, realty stocks began to get hammered on the bourses.The realty index of 14 real estate stocks was the worst performer and slumped 80 percent, outpacing the 58 percent drop in the Sensex, the benchmark sensitive index of the Bombay Stock Exchange.]]></description>
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            <title><![CDATA[Titling authority will have database on property owners]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1239</link>
			<source>The Economic Times</source>
			<pubDate>Sun, 28 Dec 2008 11:43:25 -0500</pubDate>
			<description><![CDATA[The Economic Times- The system of registration of properties will in some time be replaced by a titling system to reduce frauds. Earlier this year, the Delhi Government had hired a legal firm to draft the Bill. Consultation on it will soon be taken up along with various stakeholders like the real estate companies. The move, officials feel, is the need of the hour to prevent rampant fraud in the real estate sector.As of now there is no central system of maintaining records of property ownership because of multiplicity of authorities. The proposed Central Authority under the draft Bill will maintain complete records of all properties and scrutinize the details provided to identify the real owner]]></description>
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            <title><![CDATA[Home buyers can expect a better deal in the New Year]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1238</link>
			<source>The Economic Times</source>
			<pubDate>Sun, 28 Dec 2008 11:38:48 -0500</pubDate>
			<description><![CDATA[The Economic Times- The year 2009 will lift the gloom in the real estate market as the property market turns buyer friendly with the cuts in property rates and home loan rates. Developers for their part would benefit as they will focus on creating volumes at affordable price points. The government move to boost home loans will definitely rejuvenate the low-segment borrowers borrowing loans upto Rs 20 lakh. Public sector banks have made their loans cheaper and private banks and HFCs are expected to follow suit. &quot;The important thing now is for the supply side to catch up with the increasing demand in this segment,&quot; say experts.]]></description>
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            <title><![CDATA[The silver lining]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1237</link>
			<source>The Times of India</source>
			<pubDate>Sat, 27 Dec 2008 20:37:15 -0500</pubDate>
			<description><![CDATA[The Times of India- Come 2009 and the aspiring home buyers have a lot to look forward to, despite the difficult times. The government is going all out to help the first-time buyers pick up their homes by cutting the interest rates. Private sector banks too are expected to follow suit. And with the developers bringing down the prices, there is a silver lining to your dreams of owning a home. The concessional home loan rate scheme states that banks will charge 8.5% per annum on home loans up to Rs 5 lakh and 9.25% on those between Rs 5 lakh and 20 lakh.]]></description>
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            <title><![CDATA[Cheaper homes: Urban poor get interest subsidy]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1236</link>
			<source>The Times of India</source>
			<pubDate>Sat, 27 Dec 2008 20:27:32 -0500</pubDate>
			<description><![CDATA[The Times of India- The Union Cabinet approved interest subsidy of 5% on housing loans taken by economically weaker sections with the twin objective of ensuring affordable houses for all and giving a fillip to the ailing real estate sector. The 5% subsidy will be given on loans upto Rs 1 lakh which means people from economically weaker sections (EWS) and low income group (LIG) will have to pay an interest of 3.5% on home loans compared to prevailing market rate of 8.5%.]]></description>
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            <title><![CDATA[DDA flat owners to get demand letters in mid-Jan]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1235</link>
			<source>The Times of India</source>
			<pubDate>Sat, 27 Dec 2008 20:21:18 -0500</pubDate>
			<description><![CDATA[The Times of India- For all those who won the right to own a DDA flat from among the 5,020 up for grabs through lottery, it will be mid-January before they get their demand letters for payments which will allow them to take possession of their homes. For the 5.60 lakh plus applicants who were not lucky to win, DDA has set a deadline of December 31 for refund of registration fees.]]></description>
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            <title><![CDATA[Apollo Asia Fund to invest $10-m in India]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1234</link>
			<source>The Hindu Business Line</source>
			<pubDate>Sat, 27 Dec 2008 20:15:58 -0500</pubDate>
			<description><![CDATA[The Hindu Business Line- The Singapore-based Apollo Asia Opportunity Master Fund has committed to invest $10 million (Rs 40 crore) in developing residential projects in South India. Havenstead Developers floated by an NRI and an Indian entrepreneur will, along with Apollo Asia, invest in joint ventures with project funding institutions to promote the residential development. These joint ventures would be special purpose vehicles that are subsidiaries of Havenstead, which has sought FIPB approval for the investment.]]></description>
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            <title><![CDATA[GRUH Finanace cuts home loan rates]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1233</link>
			<source>Business Standard</source>
			<pubDate>Sat, 27 Dec 2008 20:08:29 -0500</pubDate>
			<description><![CDATA[Business Standard- In the wake of cut in rates and the resultant impact on its borrowing costs, GRUH Finance (GRUH), a subsidiary of HDFC, has reduced its prime lending rate (PLR) by 50 basis points effective from January 1, 2009. The change in PLR would impact all the existing loan customers of the company.The housing finance company has also reduced its lending rates for incremental loans by 25-200 bps. The revised rates for new home loans under the formal income segment with the monthly variable option now range from 10-13 per cent.]]></description>
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            <title><![CDATA[Investment in Asian real estate sector to benefit India]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1232</link>
			<source>The Economic Times</source>
			<pubDate>Sat, 27 Dec 2008 20:00:55 -0500</pubDate>
			<description><![CDATA[The Economic Times- India may benefit from the increased fund allocation to Asian real estate sector by global investors. Even as total amount raised by private equity real estate funds between January and November 2008 fell by a third to $57 billion from a year ago, the allocation towards Asian markets increased to 28% from 19%. As a result, the funds available for investment in Asia has increased marginally from $15.9 billion last year to $16.2 billion. As per the data collected by New York-based Private Equity Real Estate magazine, Asia and rest of the world (28%) edged ahead of Americas (25%), Global (24%) and Europe (23%) in terms of geographical allocation by investors for all new real estate funds closed in 2008.]]></description>
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            <title><![CDATA[SEZ rules to be tightened to weed out non-serious firms]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1231</link>
			<source>The Economic Times</source>
			<pubDate>Sat, 27 Dec 2008 19:54:34 -0500</pubDate>
			<description><![CDATA[The Economic Times- The government is planning to impose a minimum shareholding requirement for developers of special economic zones (SEZ), as it looks to weed out non-serious players and counter criticism its policy on such duty-free enclaves was helping companies acquire large tracts of land cheaply rather than promote industrialisation. The commerce ministry is also looking to introduce a slew of measures to tighten norms for getting approvals to set up these special zones. The moves follow the commerce ministry’s observation that some developers were submitting applications for setting up SEZs via companies in which they hold a substantial stake, but upon getting the approval they submit another application for transferring the projects to other companies in which they have a much lesser stake.]]></description>
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            <title><![CDATA[Cement prices to soften further in January]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1230</link>
			<source>The Economic Times</source>
			<pubDate>Sat, 27 Dec 2008 19:46:58 -0500</pubDate>
			<description><![CDATA[The Economic Times- Cement prices are expected to soften by about Rs 7 to Rs 12 per bag in the first week of January, due to a slowdown in the housing sector and cheap imports of cement from Pakistan. Companies such as Ambuja Cement, Shree Cement, Binani Cement, Dalmia Cement are likely to cut prices by Rs 7 per 50 kilogram bag due to the slowdown and increased supplies from across the border.]]></description>
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            <title><![CDATA[Interest rates to slip to single digits in 2009]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1229</link>
			<source>The Economic Times</source>
			<pubDate>Sat, 27 Dec 2008 19:42:16 -0500</pubDate>
			<description><![CDATA[The Economic Times- Volatility in lending and deposit rates witnessed during the year is expected to end in 2009 with interest rates seen to be going down. Interest rates on home and auto loans , which touched a 10-year high in the beginning of 2008, continued to go up till the global meltdown manifested itself, prompting monetary authorities across the world to intervene and reverse the trend. Making a case for further reduction in interest rates, the Mid-Year Review of the Economy, tabled by the Government in Parliament, said: &quot;There is considerable scope for monetary policy easing over the next six to 12 months to offset the global increase in demand for money that is being transmitted to India.&quot;]]></description>
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            <title><![CDATA[Rajesh Exports&#039; realty plans deferred for 18-24 months]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1228</link>
			<source>Business Standard</source>
			<pubDate>Fri, 26 Dec 2008 20:29:38 -0500</pubDate>
			<description><![CDATA[Business Standard- Gems and jewellery maker, Rajesh Exports Ltd, has deferred its real estate development plans by at least 18-24 months on concerns over slowdown in property demand, Chairman Rajesh Mehta told NewsWire18 here. &quot;This is not a wise time to get into real estate business. We will not get into construction activities for the next one-and-a-half to two years,&quot;said Mehta. Current land bank of the company is about 100 acres in Bangalore and parts of Kerala, excluding additional 200,000 square feet developable area in the central business district of Bangalore.]]></description>
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            <title><![CDATA[Big Bazaar plans 48 more stores in Maha by 2010-11]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1227</link>
			<source>Business Standard</source>
			<pubDate>Fri, 26 Dec 2008 20:25:19 -0500</pubDate>
			<description><![CDATA[Business Standard- Big Bazaar, the major retail chain of hypermarkets from the Kishore Biyani-promoted Future Group, has plans to open 48 new hypermarkets in Maharashtra, including Malad, Ghatkopar, Solapur and Pune, in the next two years. Big Bazaar has set the sales turn over target of Rs. 5,500 crore for the current FY 2008-09.]]></description>
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            <title><![CDATA[Unreal Realty: Cos rejig office space to cut costs]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1226</link>
			<source>The Economic Times</source>
			<pubDate>Fri, 26 Dec 2008 20:09:11 -0500</pubDate>
			<description><![CDATA[The Economic Times- Corporate India is looking at ways to restructure office space in these challenging times. While financial services company Edelweiss Capital is creating integrated offices to consolidate space, India Infoline and Credit Suisse are sub-leasing their premises. Consolidation of office space is also becoming popular as a means to cut real estate cost. Developers and owners of commercial space are becoming lenient not only with rentals but lease terms as well. They are now allowing tenants to sublease their properties to a third party, which was a strict no-no in the good times.]]></description>
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            <title><![CDATA[Unitech plans to merge all its telecom arms]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1225</link>
			<source>The Economic Times</source>
			<pubDate>Fri, 26 Dec 2008 20:01:24 -0500</pubDate>
			<description><![CDATA[The Economic Times- Real estate company Unitech is planning to merge all its eight telecom subsidiaries to consolidate and better manage the telecom business. Each subsidiary typically has licences for three to four circles and together, they cover all 22 telecom circles in the country. Unitech plans to roll out telecom services by the middle of 2009. It has already been allotted spectrum for 16 circles.]]></description>
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            <title><![CDATA[Piquadro to roll out 16 stores by 2013]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1224</link>
			<source>The Economic Times</source>
			<pubDate>Fri, 26 Dec 2008 19:54:54 -0500</pubDate>
			<description><![CDATA[The Economic Times- Italian travel items and lifestyle brand Piquadro, which had recently opened a store in the capital, mulls setting up 15 such showrooms by 2012-13, eyeing the Rs 800 crore Indian branded luggage market. The 40 million dollar company is seeking at tapping the corporate and fashion gifts market and has set up a 51:49 joint venture (JV) with DLF Group&#039;s retail management arm DLF Brands for expansion in India.]]></description>
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            <title><![CDATA[Realty players diversifying into education]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1223</link>
			<source>The Economic Times</source>
			<pubDate>Fri, 26 Dec 2008 19:50:27 -0500</pubDate>
			<description><![CDATA[The Economic Times- Education is proving to be quite a draw with a new breed of entrepreneurs in Kolkata. A bunch of real estate developers are diversifying into education and looking at rolling out schools, management institutes and engineering colleges, most of them as a not-for-profit or CSR activity. The likes of the Ambuja Group, South City, PS Group, among others are all looking at education, drawn by the sheer long-term opportunities which the sector offers. Though realtors have been setting up schools as part of large integrated projects, which also boast of amenities like shopping areas and medical facilities, these players are different in the sense that they are looking at these educational ventures as independent projects in themselves.]]></description>
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            <title><![CDATA[Unitech lays off 10 per cent employees]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1222</link>
			<source>The Economic Times</source>
			<pubDate>Fri, 26 Dec 2008 19:44:09 -0500</pubDate>
			<description><![CDATA[The Economic Times- The country&#039;s second largest realty firm, Unitech, has reduced its workforce by about 10 per cent, out of a total of 1,700 employees, as part of its cost-cutting measures on the back of a credit crunch faced by the company. Besides, downsizing employees strength over the last 4-5 months, the company is also not filling up vacancies, which were left empty in the process of normal attrition.]]></description>
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            <title><![CDATA[Dharavi Redevelopment Auhotrity May Exempt Shorlisted Builders From Upfront Payment Due To Tight Liquidity]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1221</link>
			<source>The Economic Times</source>
			<pubDate>Thu, 25 Dec 2008 20:36:17 -0500</pubDate>
			<description><![CDATA[The Economic Times- The Dharavi Development Authority (DDA), which oversees the massive redevelopment plan, is likely to exempt builders from the upfront payment of Rs 1,500 crore. As per the conditions, 19 consortia — shortlisted for the Dharavi Redevelopment Project— were expected to pay upfront 10% of the project cost, to the tune of Rs 1,500 crore, to DDA. There was a demand to waive the said condition considering the prevailing market turmoil. The DDA is seen responding to builders’ demand favourably.]]></description>
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            <title><![CDATA[Rosebys plans to invest Rs 150 cr for expansion]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1220</link>
			<source>Business Standard</source>
			<pubDate>Thu, 25 Dec 2008 19:43:50 -0500</pubDate>
			<description><![CDATA[Business Standard- Rosebys Interiors India Ltd, home decor and lifestyle products company which started operations a month ago, is planning to invest Rs 150 crore to expand its retail store network to 240 stores from the present 16 in the next one year.Having forayed into the country after being bought by Gujarat Heavy Chemicals Limited (GHCL), UK-based leading home furnishings and adornments retail chain Rosebys will be launching atleast 20 stores in Karnataka in the next 12 months. In Karnataka, it plans to open stores in tier-2 cities like Mysore, Mangalore, Hubli, Belgaum, Davanagere and Bellary.]]></description>
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            <title><![CDATA[Package-II to boost exports, realty]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1219</link>
			<source>The Economic Times</source>
			<pubDate>Thu, 25 Dec 2008 19:19:35 -0500</pubDate>
			<description><![CDATA[The Economic Times- The government is expected to come out with a second stimulus package in the next few days to lift slowing growth. This may include steps to ease liquidity and relief measures for export and housing sectors. The government is looking at real estate industry’s demand for lower interest rates on loans advanced to houses in the bracket of Rs 30-40 lakh. The second stimulus package comes in the backdrop of the economy registering a 0.4 % fall in industrial growth in October and exports a 12.1% fall during the month.]]></description>
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            <title><![CDATA[Reliance Infra bags Rs 2,676-crore expressway project]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1217</link>
			<source>The Economic Times</source>
			<pubDate>Thu, 25 Dec 2008 18:19:58 -0500</pubDate>
			<description><![CDATA[The Economic Times- Reliance Infrastructure has bagged a Rs 2,676-crore expressway project connecting Faridabad, Noida, Ghaziabad and Sonepat. The company, a sole bidder for project, will recover its investment in about 20 years by collecting toll from expressway users. The 135 km six-lane expressway will de-congest roads of Delhi as it would act as a bypass road and reduce travel time between Noida (in Uttar Pradesh) and Gurgaon (Haryana).]]></description>
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            <title><![CDATA[The top 10 Asia Pacific property markets for 2009]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1216</link>
			<source>The Economic Times</source>
			<pubDate>Thu, 25 Dec 2008 18:09:10 -0500</pubDate>
			<description><![CDATA[The Economic Times- Real estate sector is facing a worldwide slump during the current financial turmoil, with the properties in Asia Pacific being no exception. However, despite a dramatic change in the investing landscape, Asian economies have shown resilience. “The trend will see more traditional players shop for quality assets in major locations and investors will also be rebalancing portfolios to take advantage of better economic prospects in Asia,” according to the Emerging Trends in Real Estate Asia Pacific 2009 report, released by the Urban Land Institute and PricewaterhouseCoopers recently.]]></description>
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            <title><![CDATA[Tax rebate on home loans may not be raised]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1215</link>
			<source>The Economic Times</source>
			<pubDate>Wed, 24 Dec 2008 19:05:24 -0500</pubDate>
			<description><![CDATA[The Economic Times- THE government is unlikely to extend further tax benefits for home loan seekers as the proposal has not found favour with the committee of secretaries charged with drawing up the package. The interest paid on home loans, up to a maximum of Rs 1.5 lakh annually, is allowed to be deducted from the income of an individual while computing tax. A proposal to increase this limit to Rs 2 lakh annually had been put forth by a section of the government working on the economic stimulus package. The committee is expected to finalise its recommendations by next week, after which, they will be taken up by the Prime Minister’s apex committee on economic crisis. For an individual in the highest tax bracket of 30%, the Rs 1.5-lakh rebate yields a saving of Rs 46,350 in taxes, including the 3% saving of education cess. If the limit were to be raised to Rs 2 lakh, the tax saving would have increased to Rs 61,800 or over Rs 5,000 a month. Since this lowers the effective monthly installment on home loans, the move was expected to revive interest in the housing sector.]]></description>
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            <title><![CDATA[MMRDA plans land bank]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1214</link>
			<source>The Times of India</source>
			<pubDate>Wed, 24 Dec 2008 19:01:33 -0500</pubDate>
			<description><![CDATA[The Times of India- The MMRDA plans to acquire 1.86 crore sq mt of land across the Mumbai metropolitan region (up to Virar, Khopoli, Karjat and Alibaug) at a  cost of over Rs 1,000 crore. The aim is to build new rental housing projects and set up business hubs and other infrastructure facilities. The MMRDA already has lands at the BKC and Wadala, which is worth at least Rs 2,550 crore.The MMRDA plans to create a land bank by acquiring commercially profitable lands in the MMR. The income generated from the sale of land for growth centres will be used for developmental work within the MMR. Initially, Rs 610 crore have been earmarked for land acquisition and growth centres.]]></description>
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            <title><![CDATA[Realtors hold on to luxury home prices]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1213</link>
			<source>The Economic Times</source>
			<pubDate>Wed, 24 Dec 2008 18:55:09 -0500</pubDate>
			<description><![CDATA[The Economic Times- In spite of a decline in demand for luxury properties, developers such as Unitech, Jaypee, Omaxe and Lodha Group are holding on to prices. In Noida, prices of luxury apartments at Unitech Grande, Jaypee’s Wish Town and Omaxe’s Twin Tower have remained at Rs 7,600 per sq ft, Rs 5,600 per sq ft and Rs 5,000 per sq ft respectively.]]></description>
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            <title><![CDATA[Unitech in talks with PEs to raise $500 m via debt issue]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1212</link>
			<source>The Economic Times</source>
			<pubDate>Wed, 24 Dec 2008 18:54:12 -0500</pubDate>
			<description><![CDATA[The Economic Times- Unitech, the financially troubled Gurgaon-based realty company, is planning to raise $300-500 million through an issue of convertible debt instruments to multiple private equity investors. Unitech, which is desperately looking for a cash infusion to repay a debt of Rs 2,700 crore in three months, is holding negotiations with a host of global PE players, including TPG Axon, Carlyle, Och-Ziff, Sun Apollo and IL&amp;FS funds. The realty firm is looking at issuing debt instruments that will be converted to equity in the next 18 months or so. Unitech is also looking at raising about $200 million from its various residential projects through special purpose vehicles. UBS is advising Unitech on its entire fund-raising effort.]]></description>
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            <title><![CDATA[Credit flow to realty not adversely affected: govt]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1211</link>
			<source>The Financial Express</source>
			<pubDate>Wed, 24 Dec 2008 18:52:44 -0500</pubDate>
			<description><![CDATA[The Financial Express- The liquidity crunch notwithstanding, bank credit to the real sector has grown by over 26% this year. The total credit of scheduled commercial banks stood at Rs 26,30,000 crore, registering a growth of 26.4%, against 22.1% expansion in credit during the same period last year. In the stimulus package, the government also reduced the excise duty by 4% across the board, which is likely to translate into lower prices of products.]]></description>
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            <title><![CDATA[Real estate majors put offshore projects on hold]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1210</link>
			<source>The Financial Express</source>
			<pubDate>Wed, 24 Dec 2008 18:50:59 -0500</pubDate>
			<description><![CDATA[The Financial Express- Real estate majors, concerned with the liquidity crunch and uncertainty in stock markets, are putting several offshore projects on hold. Ajmera Mayfair Global Realty WLL, for instance, has put on hold its upcoming 55-storey residential complex, valued at $60 million, in Bahrain Bay. Another real estate company, Hirco International, too is understood to have put its second residential tower project in Dubai on hold for the next six months. Industry experts believe that demand for luxury homes, wherein apartments are priced over Rs 1 crore, has dipped by 25% since the third quarter of this year. As a result, builders are currently focusing on providing affordable homes to end-buyers.]]></description>
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            <title><![CDATA[Essar withdraws Jamnagar SEZ plan]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1209</link>
			<source>Business Standard</source>
			<pubDate>Wed, 24 Dec 2008 18:49:13 -0500</pubDate>
			<description><![CDATA[Business Standard- Mumbai-based infrastructure conglomerate Essar group has withdrawn its plans to build a 1,125 hectare Special Economic Zone (SEZ) in Jamnagar (Gujarat) because of the adverse economic environment.The proposal was to set up a 16-20-million-metric-tonne-a-year petrochemical refinery at an investment of Rs 15,000 crore, one of the largest SEZ proposals. Essar’s project was, however, already facing a controversy over the declaration of land.The SEZ is located at a region where about 70 per cent of India’s imported crude lands through oil tankers. Essar already has a 10.5-million-tonne-a-year refinery at Vadinar in the area.]]></description>
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            <title><![CDATA[Unitech seeks buyers for Orissa Sponge stake]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1208</link>
			<source>Business Standard</source>
			<pubDate>Wed, 24 Dec 2008 18:47:27 -0500</pubDate>
			<description><![CDATA[Business Standard- In another bid to mobilise funds for the cash-strapped realty major Unitech, promoter Ramesh Chandra and his family are in talks with leading Indian and global steel giants to sell their 25 per cent stake in Bhubaneswar-headquartered Orissa Sponge Iron &amp; Steel Ltd.
Investment banks said the Chandras, who bought the stake sometime in 2006 and 2007, are in talks with Korean steel giant Posco, which is implementing a 12-million-tonne project — one of the largest in India’s steel industry — in the state, and Delhi-based Bhushan Steel, which owns 6 per cent in the firm.The Chandras are expecting to close the deal at an enterprise value of around Rs 2,000 crore, which means they expect Rs 500 crore for their stake. The move is part of a series of measures Unitech, India’s second-largest realty company is taking to raise funds and reduce debt of Rs 8,000 crore.]]></description>
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            <title><![CDATA[Cement traders tighten credit to builders]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1207</link>
			<source>Business Standard</source>
			<pubDate>Wed, 24 Dec 2008 18:45:43 -0500</pubDate>
			<description><![CDATA[Business Standard- Come January and builders and contractors in Mumbai will face stricter norms for credit on cement purchase as dealers have decided to deal with defaults. The norms, which are being made to prevent debt from turning into bad debt, will be effective from January 1.The traders said the builders are taking as much as 30-45 days to pay for the cement they have purchased, whereas the normal credit period had been 15 days.The cement traders have also decided to include financial instruments to lessen payment risk, such as post-dated cheques, bank guarantees and letter of credit.]]></description>
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            <title><![CDATA[Orange Properties launches 65-acre project near Devanahalli]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1206</link>
			<source>The Hindu Business Line</source>
			<pubDate>Tue, 23 Dec 2008 18:43:45 -0500</pubDate>
			<description><![CDATA[The Hindu Business Line- Orange Properties announced the launch of a 65-acre township project near Devanahalli, where the company offers villas and apartments at the “cost price”. The four-day offer opens on December 25.But from the fifth day of the launch, the prices would see a hike, wherein the company would add its 25 per cent margins, he added. This is the second development project for Orange Group, which was hitherto marketing projects of other builders.]]></description>
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            <title><![CDATA[Go for floating-rate home loan]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1205</link>
			<source>The Times of India</source>
			<pubDate>Tue, 23 Dec 2008 19:34:33 -0500</pubDate>
			<description><![CDATA[The Times of India- Home loan customers are finally heaving a sigh of relief. They have been waiting for interest rates to soften. Many of them have been planning to switch over to a fixed rate regime from floating one. That would ensure peace of mind in the time of uncertainties, they hope. Ditto for prospective home buyers who have been waiting for both real estate prices and interest rates to ease a bit. interest rate cycle has peaked and rates are showing a downward trend at the moment. Going for fixed rate at this juncture would be a very bad idea. There is scope for more policy rate cuts by the Reserve Bank of India, including the repo and reverse repo cut. Though RBI has taken some monetary easing measures earlier, banks haven&#039;t passed on the benefits to customers in the same proportion.]]></description>
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            <title><![CDATA[Plan for special court to check illegal buildings]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1204</link>
			<source>The Times of India</source>
			<pubDate>Tue, 23 Dec 2008 19:28:32 -0500</pubDate>
			<description><![CDATA[The Times of India- Alarmed by the massive growth in the number of illegal constructions in the entire Thane-Ulhasnagar-Kalyan belt, the Congress-led Democratic  Front government is planning to set up a special court as well as a special police station to tackle the menace. Thane municipal commissioner Nandkumar Jantre on Monday confirmed that he has taken up the issue of setting up a special court and a special police station with the state government.While the number of unauthorised constructions in the Thane-Ulhasnagar-Kalyan belt have crossed the two lakh mark, civic organisations have lodged 500 first information reports with different police stations for violation of the Maharashtra Regional Town Planning Act.]]></description>
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            <title><![CDATA[Largest SEZ in IT sector to come up in city]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1203</link>
			<source>The Times of India</source>
			<pubDate>Tue, 23 Dec 2008 19:26:52 -0500</pubDate>
			<description><![CDATA[The Times of India- The special economic zone (SEZ) of Rajasthan Industrial Investment Corporation (RIICO) and the Mahindra World City, located at Kalwara  
village off Ajmer Road, about 17 km from Jaipur city, could emerge as the country&#039;s biggest single location SEZ in IT sector. Currently Bangalore boasts of the biggest IT hub, located on 510 acres, spread over different locations of the garden city. But the Jaipur&#039;s IT SEZ would be located on a 750-acre plot, which will make it the biggest of its kind in the country. Eight players have already signed an agreement with us and Infosys, spread on an area of 200 acres, has completed the construction of one part of their block and the second is underway.]]></description>
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            <title><![CDATA[Unitech sells Gurgaon hotel for Rs 270 Cr]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1202</link>
			<source>The Hindustan Times</source>
			<pubDate>Tue, 23 Dec 2008 19:20:15 -0500</pubDate>
			<description><![CDATA[The Hindustan Times- THERE SEEMS to be ultimately some light at the end of the tunnel for capital-scarce realty firm Unitech in these troubled times. The firm has almost sealed the deal of its much-talked about 200-room Marriott Courtyard hotel in Gurgaon for Rs 270 crore although final paper works remain to be cleared. Reports have suggested that Amtek Auto, Hinduja and ITC Ltd were among the prospective buyers. The company also plans to raise about Rs 5,000 crore through issue of securities.]]></description>
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            <title><![CDATA[Banks cut lending rates.]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1201</link>
			<source>The Hindustan Times</source>
			<pubDate>Tue, 23 Dec 2008 19:16:13 -0500</pubDate>
			<description><![CDATA[The Hindustan Times- MORE BANKS on Monday reduced their benchmark prime lending rates (BPLRs) after market leaders State Bank of India (SBI) and Housing Development Finance Corporation (HDFC) made their loans cheaper, marking the beginning of a substantial fall in interest rates in the first half of 2009, to rev up a slowing economy. 
Bank of Baroda (BoB) and Bank of India (BoI) reduced their BPLRs by 75 basis points to 12.5 per cent each, effective January 1, 2009.Public-sector banks are likely to further reduce their lending and deposit rates in January.  This is the second round of BPLR cuts by banks following a series of cuts in policy rates and cash reserve ratio.]]></description>
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            <title><![CDATA[Parsvnath pulls out of Chandigarh film city project]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1200</link>
			<source>Business Standard</source>
			<pubDate>Tue, 23 Dec 2008 19:10:28 -0500</pubDate>
			<description><![CDATA[Business Standard- The Chandigarh administration’s ambitious plans of promoting cinematic tourism in the union territory has suffered a major setback with Delhi-based realtor Parsvnath Developers Ltd pulling out of the proposed Rs 800-crore multimedia centre-cum-film city project in Sarangpur near Chandigarh.Officials in the UT administration associated with the Film City project admitted that they have received an application from Parsvnath Developers in which the company has claimed a refund of its initial deposit of Rs 47.75 crore, along with interest.The realty estate major backed out of the film city project due to the inter-state demarcation of the site and non-removal of two power lines  till date.The agreement for the project was signed on March 1, 2007, and a special subsidiary — Parsvnath Film City Ltd — was also floated for implementing the project.]]></description>
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            <title><![CDATA[‘Property rates to fall 25% in 12-15 months’]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1199</link>
			<source>The Financial Express</source>
			<pubDate>Tue, 23 Dec 2008 19:08:02 -0500</pubDate>
			<description><![CDATA[The Financial Express- Religare Hichens Harrison in its report on realty sector has projected a price correction of 20-25% over the next 12-15 months depending on location in India. 
Commercial property rates are expected to fall by 20-25%. Increasing vacancies will lead to a further correction in lease rentals which also applies to the retail industry. Further, supply will exceed demand which will lead to a fall in IT/ITes property and rentals rates. The market trends over the last five decades suggest that India is currently in the midst of the sixth downturn in the realty sector. Demand has slumped as buyers and investors adopt a wait and watch policy in anticipation of a fall in both interest rates and property prices. Growing urbanisation, rising affordability and easier availability of finance would be the key triggers for housing demand in the longer run.]]></description>
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            <title><![CDATA[Despite easy loans, realty dreams remain distant]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1198</link>
			<source>The Financial Express</source>
			<pubDate>Tue, 23 Dec 2008 19:05:51 -0500</pubDate>
			<description><![CDATA[The Financial Express- Despite the Reserve Bank of India’s (RBI) move to give ‘priority sector status’ to home loans less than Rs 20 lakh, it is going to be a distant dream for end-buyers to get possession of affordable homes which is after the next two to three years. Real estate developers who have already burnt their fingers with stagnant demand for housing, high costs of construction, major liquidity crunch in the banking system and high interest rates on loans are leaving no stones unturned to recover the costs. Majors builders are starting development of affordable housing projects in Mumbai, Pune, Chandigarh, Chennai, Nasik and Ludhiana, which would be scheduled to be completed in the next two to three years. end-buyers in the next two to three years will end up paying more as the property prices would shoot up then. Real estate prices will certainly depend upon the prices reeling in various areas.]]></description>
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            <title><![CDATA[ITC plans development of properties across country]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1197</link>
			<source>The Economic Times</source>
			<pubDate>Tue, 23 Dec 2008 19:02:54 -0500</pubDate>
			<description><![CDATA[The Economic Times- Diversified business group ITC is planning to develop properties across the country depending on the demand and land availability. ITC (hotels division) is keen in development of properties across the country. In association with its wholly-owned subsidiary Fortune Park Hotels, ITC had already taken up the property development work at Bangalore and Coimbatore. ITC is also considering few more hotel properties to be developed in Tier II towns in Andhra Pradesh like Vijayawada, Tirupati etc.]]></description>
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            <title><![CDATA[Emami decides not to quit realty space]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1196</link>
			<source>The Economic Times</source>
			<pubDate>Tue, 23 Dec 2008 19:00:42 -0500</pubDate>
			<description><![CDATA[The Economic Times- Personal care products group Emami will reverse its earlier decision to quit the property business. Plans are afoot to transfer its stake in 100% subsidiary Emami Realty to other group companies. The group has planned to appoint a consultant to value its real estate business. Emami is yet to decide on which group company or companies will pick up stakes in Emami Realty. Emami Realty had identified 10 realty projects, comprising four IT parks, three shopping malls and three residential complexes in Kolkata, Coimbatore and Hyderabad, respectively.]]></description>
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            <title><![CDATA[Parsvnath Developers says acquiring land for 11 SEZs]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1195</link>
			<source>The Economic Times</source>
			<pubDate>Mon, 22 Dec 2008 18:58:23 -0500</pubDate>
			<description><![CDATA[The Economic Times- Parsvnath Developers Ltd on Monday said it was in the process of acquiring land for special economic zones (SEZ) at 11 locations across India. the company is in the process of acquiring land for SEZ which have in principle approval at Kanchepuram, Kundali, Moradabad, Agra, Pune and Jaipur.]]></description>
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            <title><![CDATA[Unitech plans to raise Rs 5,000 cr]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1194</link>
			<source>The Financial Express</source>
			<pubDate>Mon, 22 Dec 2008 18:56:47 -0500</pubDate>
			<description><![CDATA[The Financial Express- The country&#039;s second largest realty firm, Unitech, plans to raise Rs 5,000 crore through issue of securities. The company&#039;s board, which met on Monday, approved a proposal to raise long-term funds up to Rs 5,000 crore or equivalent amounts in other currencies, through issuance of further securities. The board also approved for increasing the authorized share capital of the company to Rs 1,000 crore from the current Rs 500 crore.]]></description>
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            <title><![CDATA[FICCI moots 8-point agenda to boost housing demand]]></title>
			
			<link>http://www.credaincr.org/news_details.php?nid=1193</link>
			<source>The Hindu Business Line</source>
			<pubDate>Mon, 22 Dec 2008 18:54:37 -0500</pubDate>
			<description><![CDATA[The Hindu Business Line- With the global liquidity crisis and investors dumping realty stocks, the market capitalisation of 14 listed Indian real estate companies saw a year-on-year erosion of over 80 per cent, as on December 3. Commercial and residential real estate prices are in for a sharp correction in the short to medium term, FICCI said, adding that the focus would now shift to mid-range and affordable housing.The chamber recommended that adequate and cheap long-term finance should be made available to the industry. It also called for special incentives such as reducing VAT and stamp duties and tax benefits for developers undertaking affordable and low cost housing projects.]]></description>
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