NEW DELHI: The total valuation of immovable enemy property in the country stands at Rs 1.04 lakh crore, Lok Sabha was informed today. Minister of State for Home Hansraj Ahir said the total number of immovable property with the custodian of enemy property is 9,280 which is spread over around 11,773 acres of land. The gross total valuation of all enemy property stands at 1,04,219 crore, he said in response to a written reply to a question. "Enemy property" refers to any property belon...
CHINA'S central bank announced Friday tightened housing mortgage rules to curb speculative purchases in Beijing's property market. Targeting fake divorces, Beijing housing mortgage applicants who divorced less than one year ago will be regarded as second-home buyers and have to pay more down payment, according to a statement released by the People's Bank of China. There will be stricter investigation of the sources of the down payment to ban leveraging financial products and the...
AN acquaintance of mine who moved to Beijing from Shanghai about two years ago was aghast when an 80-square-meter apartment in Wangjing, a neighborhood beyond the Fourth Ring Road in the capital, hit the market at a price of about 13 million yuan (US$1.88 million). On WeChat, he posted a photo of a sales chart in a real estate office, showing that larger units of about 200 square meters in the same new development were selling for prices ranging between 110,000 yuan and 130,000 yuan a square...
ASCENDAS-SINGBRIDGE, a property solution provider based in Singapore, completed the acquisition of a premium office building in downtown Huangpu District as the company further expands its portfolio of high-quality commercial real estate assets in China's gateway cities. The company didn't disclose the exact acquisition cost of the 14-storey building, which is located at 686 Jiujiang Road with a total gross floor area of 24,883 square meters above the ground. The project will be ren...
Enemies keep out!IT WAS passed on a hasty voice vote, with only 31 of the Rajya Sabha’s 244 members present. All were from the ruling party and ten, oddly enough, were cabinet ministers—an exceedingly rare sight on a quiet Friday afternoon, reserved by tradition for private members’ bills. The few opposition MPs at hand had walked out in protest. Their ire was warranted: the government had promised that this particular bill, which the Upper House had already blocked both on the floor and i...
ASIA Pacific cities have yet to catch up with their European and North American counterparts when it comes to intensity of investment despite their ever-increasing popularity as global real estate investment destinations, according to a latest report released by international property services provider JLL. Only four cities in the region -- Sydney, Melbourne, Hong Kong and Tokyo -- managed to make into the top 30 list, which ranks world cities by comparing the volume of direct commercial rea...
NEW DELHI: Close on the heels of the historical Uttar Pradesh poll victory, the NDA government at the Centre on Tuesday sealed the fate of the heirs of the Raja of Mahmudabad who had owned several properties in Hazaratganj and various other parts of the state by finally getting the Parliamentary nod to “The Enemy Property (Amendment and Validation) Bill, 2016. The retrospective effect clause of the bill had been contentious, besides the provision that no enemy properties could pass onto t...
NEW DELHI: Successors of those who migrated to Pakistan and China during partition will have no claim over the properties left behind in India, with Parliament today passing a bill to amend a 49-year-old law. The Enemy Property (Amendment and Validation) Bill, 2016, which amends the Enemy Property Act, 1968, was passed by voice vote in the Lok Sabha, incorporating the amendments made by the Rajya Sabha last week. The Lok Sabha had passed the bill earlier but certain amendments were introd...
REAL estate developers in China are facing increasing competition this year as large players strive to capture further market shares amid the ongoing regulatory controls and likely slowdown in sales growth, Moody's Investors Service said in a report released today. Rein-in measures in cities where property prices are rising rapidly will remain tight or become even tighter in 2017, whereas policies in lower-tier cities where inventory is high will remain accommodative, according to Moody&...
NEW DELHI: Amid a walkout by the entire Opposition, the Rajya Sabha on Friday passed the Enemy Property (Amendment and Validation) Bill, 2016 that seeks to amend the Enemy Property Act, 1968.   The Bill was passed by voice vote in the Upper House even as the Opposition demanded to defer the debate for thorough deliberation next week.   Among other things, the amendments to the Bill seek to ensure that the law of succession does not apply in the case of enemy property and are expec...
NEW DELHI:  Rajya Sabha today passed a Bill to amend a 49-year-old law to guard against claims of succession or transfer of properties left by people who migrated to Pakistan and China, amid a walkout by the entire Opposition. The Enemy Property (Amendment and Validation) Bill, 2016, which amends the Enemy Property Act, 1968, was passed by voice vote in the Rajya Sabha despite the opposition demanding deferring of the debate on the draft legislation for a threadbare deliberation next week....
SAN FRANCISCO — Airbnb, the leading online marketplace for short-term lodging, on Tuesday invited some of the owners of properties listed on its service, known as hosts, to attend executive board meetings and offered them more direct contact with its chief executive, in an attempt to give the people vital to the company’s success a greater say in how it is run. Airbnb depends on the loyalty and advocacy of its hosts — people who rent out their homes and apartments through the...
Airbnb, the leading online marketplace for short-term lodging, on Tuesday invited some of the owners of properties listed on its service, known as hosts, to attend executive board meetings and offered them more direct contact with its chief executive, in an attempt to give the people vital to the company’s success a greater say in how it is run. Airbnb depends on the loyalty and advocacy of its hosts--people who rent out their homes and apartments through the company’s website--in it...
CHINA stocks fell on Friday as trading sentiment remained weak. The market was awaiting reform measures that will likely be announced at the annual session of the National People’s Congress that begins over the weekend. The benchmark Shanghai Composite Index dipped 0.36 percent to 3,218.31 points, and turnover fell to 193 billion yuan (US$28 billion). Financial shares weighed on the index. China Everbright Bank lost 0.72 percent to 4.16 yuan. Bank of Communications retreated 0.95 perc...
Our latest episode of Tech Debate features Fortune digital editor Andrew Nusca and writer Robert Hackett discussing the lawsuit between Uber and Alphabet googl . The companies are disputing whether Uber stole intellectual property from Waymo, Alphabet’s self-driving car unit. Alphabet claims that its former employee Anthony Levandowski downloaded documents from a server and used the information at Uber. Levandowski left Waymo to start Otto, a self-dri...
Wyndham has amassed brands and inventory across the world as it has become the largest property vacation management company in the world. Wyndham Vacation RentalsSkift Take: Wyndham Destination Network has positioned itself as the largest property management company in vacation rentals, and is now using its size to optimize performance by rolling out company wide yield management and cross-selling abilities. — Dave MontaliLast week we launched the latest report in our Skift Research Reports s...
CHINA is seeking to maintain stability in the property market this year after the roller-coaster ride of 2016, with measures to prevent surges in metropolises and the growing inventories in small cities. “Despite looming problems and uncertainties, China is capable of maintaining stable and healthy development of the property market this year,” Chen Zhenggao, minister of housing and urban-rural development, said yesterday during a press conference. His remarks came amid signs of...
CHINA’S hot property market in major cities continued to stabilize in January after authorities took a series of measures to contain rising prices, official data showed yesterday. The average new home prices were flat last month in first-tier cities for the second consecutive month and edged up 0.1 percent in second-tier ones but the gain was down from a 0.2 percent growth in December, said the National Bureau of Statistics, which monitors prices in new and pre-owned housing markets in...
SHANGHAI'S new housing market continued to gain momentum last week, signals for a warm-up before an overall rebound as early as next month. The purchases of new residential properties, excluding government-subsidized affordable housing, jumped 20.4 percent to 93,000 square meters during the seven-day period ended on Sunday, Shanghai Centaline Property Consultants Co said in a report released today. These new homes sold for an average 48,900 yuan (US$7,094) per square meter, a week-over-...
NEW DELHI: The BJP leader and Union minister of state for Parliamentary affairs Mukhtar Abbas Naqvi has claimed that Congress has become a "benami property" whose owner is unknown. The minister claimed that there is “utter confusion” about who is the chief of the Congress. Reacting to the statement of the Congress leader Ghulam Nabi Azad that Priyanka Gandhi is looking after the party's assembly poll management rather than campaigning, Naqvi quipped that there is compl...