In the Bangalore, anyone can hop from Tribeca to Brooklyn, stop off at the White House, and head out to Melrose in just a few minutes.
The miraculous journey unfolds in a new housing development in Bangalore’s Electronic City named “Concorde Manhattans”, which sits on prime real estate across from a Wipro Technologies campus. While location is the major draw, developer Concorde Group is also betting that its American naming scheme will help attract Wipro’s globe trotting employees.
Reliance Industries is in advanced discussion with the New York-based Vornado Realty Trust. It is one of the world’s top five real estate asset managers. Main aim of this discussion is to float a $1-billion plus fund. The proposed fund will acquire and manage properties, mainly in the retail space, across India. People familiar with the development said RIL and the New York Stock Exchange-listed real estate investment trust (REIT) were discussing the possibility of an equal joint venture.
Vornado has a market capitalization of nearly $14 billion. It owns and manages over 116 million square feet of realty assets in the US with significant concentration in New York and Washington districts.
It is supposed that the joint venture is likely to manage real estate for RIL’s rapidly-expanding retail arm Reliance Retail (RRL). The group could also consider taking realty assets off the balance sheet of RRL and its subsidiaries and park it under the management of the proposed joint venture. However, the likelihood of such a move could not be verified.
Reliance has been on the lookout for partnering a real estate manager for developing an asset base, primarily for expanding its retail play. It has been in talks with several international players, including Taubman Centre, another US-based player. However, the group has now adopted a more pragmatic approach of forming joint ventures to capitalize on the domain expertise or brand power that an international partner could bring in certain sectors.
India’s Williamson Magor Group plans a foray into real estate expansion in six months, a top official said on Thursday.
While talking to journalists Vice Chairman D. Khaitan told that, “It will drift a separate company to come into the real estate sector”.
The group holds stakes in battery maker Eveready Industries India, tea planter Mcleod Russel India and civil engineering firm, Mcnally Bharat Engineering.
Khaitan told that they will look at commercial real estate development, adding the new firm will look to purchase land in India for development with funds from group companies.
Damac Properties is offering a jet plane worth Dh 5.5 m and a Dh1m private island in the Caribbean in a lucky draw for property buyers at this year’s Dubai Shopping Festival. Damac said that the lucky winners could get an Eclipse 500 jet plane and the private island in the Caribbean.
Offers can also be exchanged for cash. The offer is part of Damac’s Dh90m promotion during this year’s festival. This is the biggest offer in terms of prize money and first time in the history of the shopping festival. A Bentley or a BMW is being offered with every apartment brought during this festival.
Mr.Peter Riddoch, CEO of Damac Properties, told Emirates Business that anybody buying Damac property at more than Dh750000 will be eligible to participate in the lucky draw. He said “Last year we gave away an Eclipse 500 and had promised that the offer will be bigger this year.” Further he said, “This year we have added a private island in the beautiful and serene Caribbean Sea. The Pelican Caye Island is the one of the few private islands on the Turneffe Atoll and is perfect for a personal estate”. He added, “Having already given away property on land and an aircraft, we wanted to extend the offer”.
DSF will run till Feb 24, 08 and is expected to get attention of 3.5 million visitors from all over the world. For Indians who are interested in property buying in Dubai, there is a walk-in for the offer of a lifetime on properties in Dubai.
Venue: The Taj Mahal Hotel, 1, Mansingh Road, New Delhi.
Date: 7th-9th Feb ’08.
Time: 10 am to 10 pm
This offer is valid only on residential, office or retail space in Dubai only.
Do you feel too taxed with Forthcoming budget ?
May be, But you can relax with some tax-free humour.
Q: What are you doing?
Ans.: Business.
Tax: PAY PROFESSIONAL TAX!
Q: What are you doing in Business?
Ans.: Selling the Goods.
Tax: PAY SALES TAX!!
Q.: From where are you getting Goods?
Ans.: From other States/Abroad
Tax: PAY CENTRAL SALES TAX, CUSTOM DUTY & OCTROI!
Q.: What are you getting by Selling Goods?
Ans.: Profit.
Tax: PAY INCOME TAX!
Q.: How do you distribute profit?
Ans: By way of dividends
Tax: Pay dividend distribution Tax
Q.: Where do you Manufacture the Goods?
Ans.: Factory.
Tax: PAY EXCISE DUTY!
Q.: Do you have Office / Warehouse/ Factory?
Ans.: Yes
Tax: PAY MUNICIPAL & FIRE TAX!
Q.: Do you have Staff?
Ans.: Yes
Tax: PAY STAFF PROFESSIONAL TAX!
Cool Q.: Doing business in Millions?
Ans.: Yes
Tax: PAY TURNOVER TAX!
Ans: No
Tax: Then pay Minimum Alternate Tax
Q.: Are you taking out over 25,000 Cash from Bank?
Ans.: Yes, for Salary.
Tax: PAY CASH HANDLING TAX!
Q.: Where are you taking your client for Lunch & Dinner?
Ans.: Hotel
Tax: PAY FOOD & ENTERTAINMENT TAX!
Q.: Are you going Out of Station for Business?
Ans.: Yes
Tax: PAY FRINGE BENEFIT TAX!
Q.: Have you taken or given any Service/s?
Ans.: Yes
Tax: PAY SERVICE TAX!
Q.: How come you got such a Big Amount?
Ans.: Gift on birthday.
Tax: PAY GIFT TAX!
Q.: Do you have any Wealth?
Ans.: Yes
Tax: PAY WEALTH TAX!
Q.: To reduce Tension, for entertainment, where are you going?
Ans.: Cinema or Resort.
Tax: PAY ENTERTAINMENT TAX!
Q.: Have you purchased House?
Ans.: Yes
Tax: PAY STAMP DUTY & REGISTRATION FEE!
Q.: How you Travel?
Ans.: Bus
Tax: PAY SURCHARGE!
Cool Q.: Any Additional Tax?
Ans.: Yes
Tax: PAY EDUCATIONAL, ADDITIONAL EDUCATIONAL & SURCHARGE ON ALL THE CENTRAL Government’s TAX!!!
Q.: Delayed any time paying Any Tax?
Ans.: Yes
Tax: PAY INTEREST & PENALTY!
A common man: Can you let me die in peace now?
Ans: Yes. Just wait. We are about to launch the funeral tax!!!
Jaipur is emerging as real estate investment destination rapidly. Taking lead from this , Jaipur Development Authority (JDA) is coming up with multiple commercial and residential schemes to woo the investors across the globe. It has attracted Real Estate Giants for its grand auction of group housing and commercial plots at Jaipur- Sikar Road (NH-11). Auction will be held in JDA Conference Hall on February 16, 2008 at 02:30 P.M.
The group housing plot has area 7160.90 sq meter and the minimum price will be 4000/- per square meter, whereas commercial plot has area 5319.91 square meters with the minimum selling price as 5000/- per square meter.
