Real @ MindSay

I have go to admit that I love books, I love to watch films too but out of the two I would always choose a good book over the latest DVD, It's just my preference.

However, although the plot may be gripping, the characters loveable and you just can't put it down a realization came over me, It's not real, It's not going to happen, and especially not around here. I didn't honestly think that all the things I've read are true but it's a nice thought thinking that it's possible it could happen, but I realized that things that happen in books and films just don't happen often and things don't have the 'Happily Ever After..' that you want it too. A book knows where it's going and how it'll end up but that's impossible to know really. Yeah it sounds stupid but I can honestly say I'm gutted that nothing exciting or adventerouse is going to come along and change my life here in Pembrokeshire ..well nothing soon anyway. Maybe one day eh? then I can wirte my own book ad make millions ;) sorted.

Any suggestions on books btw?

Mari X

A NRI and PIO can invest in property here, and repatriate the rental income and sale proceeds abroad,

Anon-resident Indian (NRI) and person of Indian origin (PIO) can acquire residential property in India. They can rent it out, transfer it, or sell it as well. They can take the rental income and their investments in the property out of the country, subject to the foreign exchange regulations. Under the present relaxed conditions, NRIs can invest in property in India easily.

A NRI is an Indian citizen residing outside India. A PIO is an individual who at any time held an Indian passport, or whose father or grandfather was a citizen of India. However, a PIO who is a citizen of Pakistan, China or Bangladesh has restrictions in acquiring property. Also, NRIs and PIO cannot buy agricultural land, plantation property and farm house.

A NRI/PIO may use his own funds to acquire immovable property. He can also avail a housing loan from a bank. Own funds is money received in India through an inward remittance from overseas out of income earned overseas, personal savings outside India, and funds held in non-resident external (NRE), non-resident ordinary (NRO), or a foreign currency - non-resident (FCNR) bank account.

In addition to own funds, he may also avail a housing loan from a bank. The authorised banks have been permitted to provide housing loans to NRIs and PIO for acquisition of a residential property in India. It is to be noted that this is subject to certain conditions. However, the quantum of loan, margin money and the period of repayment are on par with the housing loans provided to residents in India.

The loan amount cannot be credited to the NRE/FCNR account of the NRI/PIO. It has to be fully secured through an equitable mortgage of the property proposed to be acquired. If required, the bank may also have a lien on the other assets of the buyer in India. Further, the instalments of the loan, interest and other charges should be paid by the NRI/PIO through remittances from outside India through normal banking channels or out of funds in his NRE/FCNR/NRO account in India. The loan and interest can also be repaid out of the rental income of the property purchased.

The NRI/PIO may transfer the property without any approval from the Reserve Bank of India (RBI) to anybody - either a resident of India or another NRI/PIO. In case the property is let-out, the rental income can be credited into the NRO/NRE account. In case of sale, the sale proceeds of upto two properties can be remitted outside India without any RBI approval. Remittance for third and subsequent properties requires an RBI approval.

The remittance of the sale proceeds depends upon the mode of acquisition - whether it was acquired out of funds remitted from outside or out of rupee funds. A property can be acquired out of rupee funds by a NRI before leaving India, or acquired after leaving India but from his savings bank account here. It should be with income earned in India.

The proceeds can be repatriated provided the amount does not exceed either the amount paid for acquiring the property in foreign exchange received from overseas, the amount paid from the FCNR account, or the foreign currency equivalent of the amount paid from the funds held in a NRE account.

In case the property is acquired from rupee funds held in India, the remittance depends on the holding period of the property. In case the property has been held for more than 10 years, up to one million USD per calendar year can be repatriated without any RBI approval.

If the property is sold after being held for less than 10 years, remittances can be made if the sale proceeds were held for the balance period in a NRO account or other eligible investments. For remittance of sale proceeds of assets acquired through inheritance or settlement, there is no lock-in-period. In all other cases, specific approval of the RBI is required.

Wherever a specific approval of the RBI is not required, the sale proceeds of the property as well as the rental income may be remitted outside India through normal banking channels, after obtaining an appropriate certificate from a chartered accountant, certifying that applicable taxes have been paid or provided for.

                                      Courtesy:- TOI dtd:- 15th Nov. 2008

Fearing a crash in local real estate prices, many well-heeled Indians are buying properties in Singapore. While such purchases could be pure investments, the lure of permanent residentship offered to certain investors under the Singapore law may have also influenced the decision. Many are drawn by the sheer ease in buying a house in Singapore.

The Far East Organization, one of Asia’s largest real estate groups, is among the real estate developers looking to pull in Indians to invest in the Southeast Asian country. The group will soon complete the development of Silversea, a premium residential seafront property, aimed at foreign buyers.

“People from across Asia are looking to buy properties in Singapore attracted by its urban infrastructure. The number from India has only been increasing,” says Far East’s chief operating officer, Mr Chia Boon Kuah. Along with a stunning sea view of the east coast, Silversea also promises a window to the country’s rapidly rising financial district, which houses properties like the New Downtown, Marina Bay Financial Centre and Gardens by the Bay. The apartments are priced at about $1.5 million each. While Far East will have a Silversea exhibition in Kuala Lumpur soon, it is targeting other markets, such as Indonesia, India, China, and the Middle East. Mr Kuah expects to sell around a half of Silversea apartments to foreign buyers.

Singapore has attracted real estate investors for many years now. Thanks to a stable, business-friendly administration and a safe and multicultural environment, most buyers believe that prices would appreciate from hereon. However, Mr Kuah admits that the global financial market turmoil has caused a small price dip. Officials from Far East Organization said the Singaporean government will provide various facilities for prospective property buyers; for instance, exempting them from the sales profit tax and providing them with permanent resident permits.

The government is expected to grant permanent resident permits to 40,000-50,000 expatriate residents every year. Around 14% of non-local property buyers in Singapore are Indians, according to government data. The Singapore government has targeted a population of 6 million, from 4.6 million at present, in the next three years.

                                                                       November 4, 2008 indian realty news

Today, the city is taunting itself as “the city too busy to hate”. But, story was not same all the time. First time, it was opened for white settlement around in the year 1823. Originally, it was inhabited by the Creek and Cherokee Native American. After the construction of Atlantic Railroad line in 1836, it became the major trade route to the Midwest. Later on, even American civil war severely affected development and prosperity in this zone. But, after the war again it was rebuilt and recognized as the official capital of Georgia in 1868 and from that year onwards, the city is simply blooming everyday. It has become more vibrant and widely recognized for popular music. Great foods and eateries are also pioneer center of attraction for the tourists. In concluding words, heat of ease in Atlantic life style can be experienced by analyzing the growth of real estate business.

There are varieties of speculations amongst Atlanta realtor. They say that the greatest boom in Atlanta real estate is yet to come. So, even financial advisers have supposed that investment in Atlanta property is a wise decision. An investor can check property prices listed in Atlanta real estate market. It would be the first step towards investment. A proper study of the current real estate trend is extremely essential. Investors also can browse Atlanta magazine, newspaper and website for information. But, before approaching any agent, few points must be very clear. Investors must have idea about their investment limitation, must carry credit report from bank, cash availability for down payment, interest rate and so on. Investors also should be ready for paying few other charges like attorney’s fee, taxes and other transfer fees.

Pune-based real estate developers have decided to increase the per-square-foot charge for residential construction between Rs 50 and Rs 400 from April 20 due to the increasing cost of construction and heavy taxation by Pune Municipal Corporation (PMC). This was announced today by Lalitkumar Jain, president, Promoters and Builders Association of Pune (PBAP).

Pune, over the last two years, has experienced a boom in the real estate industry. However, availability of land has remained a problem as the new Development Plan (DP) for Pune has not been sanctioned and executed for quite some time.

The city saw construction of 60 lakh sq.ft commercial space for the information technology (IT) industry last year, which has generated employment for more than 60,000 people. There has also been extensive recruitment in industrial areas like Ranjangaon, Pirangut, Chakan and Talegaon - an addition of close to 25,000 new jobs. The services and retail sector has recruited more than 25,000 new employees last year.

While more than one lakh new jobs were added in the city, the builders have developed only 35,000 new flats in and around Pune. “There is a huge demand-supply gap, which has led to the sudden price rise over the last two years. In addition, steel prices have gone up from Rs 32,000 per tonne to Rs 52,000 per tonne while the cement prices have been increasing consistently. PMC, too, has increased the development and premium charges for residential projects from 200% to 400%. All this has led to heavy cost escalation for Pune-based builders,” Jain added.

PBAP, which represents more than 80% of Pune’s real estate developers, has prepared a report that explains the possible ways to tackle the price hike. The report has requested the central government to take cost cutting measures for cement and steel prices.

Jain said: “There is resentment among middle class households over increasing real estate prices. The industry cannot sustain such a situation where costs are not coming down. If housing becomes more costly, nobody will buy a flat in Pune and the industry may come to a halt in the near future.”