Brigade, Singapore's GIC to invest $248 mln in Indian property sector
India last month paved the way for the setting up of real estate investment trusts (REITs), a move to boost foreign investment in the property sector
Sep 02, 2014
Source : in.reuters.com
Foreign Fund Investment

 

(Reuters) - Indian developer Brigade Enterprises (BRIG.NS) and Singapore's sovereign wealth fund GIC Pte Ltd have agreed to jointly invest 15 billion rupees ($248 million) in residential real estate projects in south India, the companies said.

Brigade and GIC will invest in acquiring land and building homes and for mixed-use projects, the companies said in a statement on Monday.

Sovereign wealth funds and other long-term investors are eyeing opportunities in India's real estate sector, as property prices continue to drop on the back of the slowest economic growth in a decade for the country.

India last month paved the way for the setting up of real estate investment trusts (REITs), a move to boost foreign investment in the property sector.

Funds, including the Blackstone Group (BX.N), Canada Pension Plan Investment Board (CPPIB), Abu Dhabi Investment Authority (ADIA) and Qatar Investment Authority (QIA), are among those seeking to invest in the Indian property market.

(1 US dollar = 60.4625 rupees)

Latest Realty News

Meet to enlist the homeless
Sep 02, 2014
In order to help the homeless get shelter and other aid from the government, knowing the exact number of such people in Ranchi is certainly the starting point
BDA talks transparency; Move follows plot bungle
Sep 02, 2014
The development authority will put documents related to allotment of plots and houses on its website, having burnt its fingers in the discretionary quota issue
Political Blame Game Over DDA Housing Scheme
Sep 02, 2014
As the Delhi Development Authority (DDA) launched its much-awaited housing scheme on Monday, the Congress and the BJP resorted to mudslinging over the flats meant for economically weaker sections
Rajahmundry’s New Master Plan Gets Govt Green Signal
Sep 02, 2014
The government has given its consent to the draft master plan prepared by the Municipal Corporation of Rajahmundry (MCR). The previous master plan for the city was prepared in 1971.
BDA’s Digi Plan to Clean Mess
Sep 02, 2014
Mired in controversies, the Bhubaneswar Development Authority (BDA) has decided to incorporate greater transparency through digitisation of files and making them available in the public domain
Civic Body Fails to Utilise Slum Development Fund
Sep 02, 2014
Hundreds of beneficiaries of Integrated Housing and Slum Development Programme (IHSDP) living in the slum areas under Baripada Municipality limits have expressed their concern over slow progress of work under the programme
Construction firm to pay Rs 4 lakh for mala fide intention to Haryana resident
Sep 02, 2014
A construction firm has been asked to pay Rs four lakh by a consumer forum here which said that it was trying to grab the money of "innocent consumers" with "mala fide" intention
Govt initiates land identification process for IIM-Odisha
Sep 02, 2014
While people from different parts of Odisha are raising demands for location of the proposed IIM (Indian Institute of Management) in the state in their respective area, the state government has started the process of land identification for establishment of the premier institute
DLF Belaire flat owners play safe on compensation
Sep 02, 2014
Consumer activism entered a new phase in working out claims and compensations. The latest example is of the Belaire project in Gurgaon, over which DLF, the country's largest real estate company, was recently told by the Supreme Court to pay Rs 630 crore for abusing its dominant market position
Government appoints committee to study SRA in Lake City
Sep 02, 2014
Chief minister Prithviraj Chavan paved the way for implementation of the Slum Redevelopment Authority (SRA) scheme in Thane city on the lines of Mumbai SRA ahead of elections

Latest Realty News Of State

Realty Talk's