Real estate regulatory act soon

October 12th, 2009 Ill. real estate agent wins world chili cookoffCHARLESTON, W. Va. — An Illinois real estate agent who gave her jalapeno peppers an "extra tweak" has won the world championship cookoff of the International Chili Society.

August 4th, 2009 NEW DELHI - To bring transparency in the realty sector, Associated Chambers of Commerce and Industry of India (Assocham) has suggested that it be made mandatory for real estate developers to open escrow accounts. Escrow accounts offer a safe avenue to buyers of property since payments for purchase of an apartment or similar real estate are deposited in them and paid to the developer only after the project is complete and the possession handed over.

July 9th, 2009 NEW DELHI - Global real estate giant IREO will pump in $500 million in various infrastructure projects in India over a period of seven years, the company said Thursday. IREO, which has invested $1.5 billion in India, is already one of the largest investors in the country's real estate sector.

June 13th, 2009 Schwarzenegger: A bad time to sell state assetsSACRAMENTO, Calif. — Gov. Arnold Schwarzenegger says it's the wrong time to consider putting California landmarks up for sale — less than a month after he proposed doing just that.

June 9th, 2009 Lincoln Center names real estate exec as new chairNEW YORK — Lincoln Center for the Performing Arts has named a new chair, who'll help guide its ambitious redevelopment project. It announced Monday after its annual board meeting Katherine Farley is chair-designate.

May 28th, 2009 NEW DELHI - India's realtors believe the sector will see signs of recovery in the next three months, according to the Associated Chambers of Commerce and Industry of India (Assocham). A survey report by the industry lobby said 88 percent of chief executives of real estate firms see a quick revival within the next three months as developers shift towards affordable housing and property prices undergo significant correction.

May 27th, 2009 NEW DELHI - Rajasthan attracted investments worth Rs.69,052 crore, the highest among northern states, during 2008-09, a business chamber report released here Wednesday said. The report, 'Investment Prospects in Indian Economy 2008-09' by the Associated Chambers of Commerce and Industry (Assocham), said Haryana, which attracted investments worth Rs.52,852 crore, came second, followed by Uttarakhand with Rs.36,059 crore.

May 25th, 2009 NEW DELHI - Taking cue from the other realty majors, the board of real estate firm Parsvnath Developers Monday approved a proposal to raise up to Rs.2,500 crore (Rs.25 billion/$529 million) through qualified institutional placement (QIP). "The board has decided to raise funds by various means, including through issuance of further securities to persons other than the existing equity shareholders of the company and also by way of QIP to qualified institutional buyers (QIB) for raising a sum of up to Rs.2,500 crore," Parsvnath said in a regulatory statement.

May 1st, 2009 NEW DELHI - Hit by severe cash crunch, realty major DLF Ltd has decided to sell its wind power business to raise funds even as the company's net profit in the January-March quarter crashed 93 percent. DLF, based here, Friday said in a regulatory statement that its net profit dropped to Rs.159 crore ($31.8 million) in the last quarter from Rs.2,177 crore ($441 million) in the like period last year.

April 24th, 2009 Hypo says German gov't wants to take 90 pct stakeFRANKFURT — Hypo Real Estate says German government intends to take 90 percent stake for euro5.6 billion ($7.4 billion). The bank says in a statement released Friday that the bank's management and supervisory boards approve the takeover offer from the government's German Special Fund for Financial Market Stabilization, or SoFFin.

April 15th, 2009 NEW DELHI - The public-private partnership (PPP) projects in the infrastructure sector in various states will provide a Rs.200,000-crore stimulus for the Indian economy, a study by an industrial lobby released Wednesday said. According to the study by the Associated Chambers of Commerce and Industry (Assocham), the PPP projects - especially roads, real estate, power, ports and transport - have tremendous potential to unleash higher growth rate if the investment outlays are utilised effectively.

March 21st, 2009 TIRUNELVELI - Eight people, including three women, were arrested for selling off an estate, which belonged to two brothers from Kerala, on fabricated documents, police said Friday. The people were remanded to judicial custody on charges of cheating.

February 15th, 2009 NEW DELHI - The Indian realty sector, which is reeling under a severe fund crunch, Monday expressed disappointment over the interim budget for 2009-10, saying the government has done nothing to provide relief to the crisis-hit industry. 'The budget has failed to meet the expectations at this time of global downturn,' said Navin M.

February 5th, 2009 NOIDA - Income-Tax sleuths searched the offices of at least half a dozen real estate builders in the national capital region (NCR) Friday, sources said. An 11-member team of Income-Tax officials raided the offices of Supertech Constructions at various locations in Noida Friday at 9 a.m.

December 26th, 2008 GHAZIABAD - Three real estate developers were killed in this Uttar Pradesh town on the outskirts of the national capital, police said Saturday. The bodies of Satish, Babloo and Saranjit - only known by their first names - were found on a roadside in Chiranjeev Vihar Friday night, investigating officer C.P.