Irda relaxes investment norms for housing,infra finance firms

Housing finance companies and infrastructure finance companies will get higher funding from the insurance companies as the sector regulator IRDA has relaxed investment norms for these firms. The investments in the debt instruments issued by housing finance companies as specified in the investment regulations shall not be included under the exposure to Financial and Insurance Activities, Insurance Regulatory and Development Authority (Irda) said in a notification. Presently,it said,such exposure to Housing finance companies and infrastructure finance companies is treated as exposure under Financial and Insurance Activities.

BKC emerging as preferred destination for consulates: JLL

New Delhi: Bandra Kurla Complex (BKC) in Mumbai is emerging as a hub for consulates as the location offer better infrastructure facilities,global property consultant Jones Lang LaSalle (JLL) has said. Bandra Kurla Complex is now one of the most strategic commercial and residential real estate locations in Mumbai,and,in fact,in the country, Jones Lang LaSalle India managing director (West) Ramesh Nair said. BKC has also emerged as the most preferred destination for foreign Consulates and trade offices,he added. “It is already home to the US Consulate,the British High Commission and the consulates of Australia and New Zealand,” Nair said.

Realty sector can double its share in GDP to 13% by 2025:CBRE

The realty sector can more than double its contribution to GDP to 13 per cent by 2025 on rising housing demand,if the government removes bottlenecks in infrastructure,lowers borrowing cost and makes process of approvals shorter,global property consultant CBRE said. The share of the real estate sector in GDP is likely to be 6.3 per cent in 2013,CBRE said in a report titled ‘Assessing the Economic Impact of India’s Real Estate Sector’. The report projected that the realty sector will generate employment for 17.2 million people and supply 8.2 million sq ft by 2025,more than double the figures for the current year. pti

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