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They say bureaucracy in India can be slower than the most patient snail. So, more than seven years after the proposal was first mooted, the Securities and Exchange Board of India (Sebi) came out with its draft guidelines for real estate mutual funds (MFs). This move has brought much joy and relief to the MF industry.

Now, the industry is out to convince domestic investors that the move could not have come at a more opportune time. In these volatile times, real estate acts as a good diversification option due to its low correlation with equity and bonds. Besides, retail investors can now invest in actual real estate projects with amounts as low as a few thousand rupees.

“Sebi’s move to launch realty MFs will not only foster diversification in the MF industry, but will also promote wider participation in the real estate sector,” says Vineet K Vohra, MD & CEO, ING Investment Management, a fund house that helps manage around $200 billion in various real estate projects around the globe.

Mr Vohra says the move will help bring the Indian market place closer to global norms. As for delivering returns, sample this… ING’s Global Real Estate Fund, which invests in shares of international real estate companies, emerged unscathed in the recent stock market turbulence.

The fund not only took the crash in its stride, but also delivered positive returns over the same time period. If you had invested Rs 10,000 separately in the BSE Sensex, BSE Realty index and ING Global Real Estate Fund on January 10, ’08, your investment would be worth Rs 7,900, Rs 5,500 and Rs 10,800, respectively , as on April 22, ’08. Sebi has given approval to two kinds of real estate funds. The first category is of real estate MFs, which will invest in real estate projects and mortgage-backed securities.

These will be closed-ended funds, listed on the exchanges. As their net asset values (NAVs) will be declared daily, investors will have the option to exit any day. So, you can now say goodbye to the old tradition of illiquidity in real estate investments. Real estate investment trusts (REITs, in short) constitute the second category of real estate funds.

These products are very popular abroad. The most common version of this class of funds allows an investor to earn fixed income like returns through rents of commercial properties . Most REITs are listed on the exchanges and have tax incentives for investors.

Put simply, REITs work like fixed income instruments (rents as coupons), while realty MFs will seek capital appreciation (like a stock price going up) by investing in properties. For years, real estate was synonymous with lack of transparency in transactions and absence of an index, making it difficult to track prices.

Various fund officials like ING’s Mr Vohra hope that the introduction of REITs in India will change all that. They are betting on such products ushering in greater liquidity to this asset class, as well as freeing up developer capital for further investment, changing the dynamics of the sector as well.

With the current real estate boom and no signs of any fall in demand for homes or offices, this may be the best time for investors to own a share of the lucrative realty sector. Real estate MFs and REITs offer the cheapest and most convenient way to do so. However, let’s hope that smoother legislative framework and a clear taxation policy will be put in place for these products, making them investor-friendly .

Owing to its direct connectivity with prime commercial destinations of Mumbai like Bandra-Kurla Complex (BKC), Kalina, CST Road, Jogeshwari-Vikroli Link Road, the real estate around LBS Marg is buzzing with activities. Both commercial and residential properties are selling like a hot cake in the region.

Not just LBS Marg, Mumbai properties around Ghatkopar, Powai, and Vidyavihar are also witnessing a strong surge in demand.

Availability of superior road infrastructure with linkage to Eastern Express Highway has further fuelled the growth in the belt and this has resolved the connectivity issues between Eastern and Western suburbs.

Furthermore, Sakivihar road connects Andheri, and from the Eastern Express Highway people can easily drive down to Airoli, Vashi, Ghatkopar, Chembur and Sion.

The real estate around LBS Marg is truly a quintessence of how infrastructure boosts property values in a market.

The first proposed metro rail coming up at the Versova-Ghatkopar route is one of the reasons for spur in real estate development in the region. The railway stations of Ghatkopar, Vikhroli, Kanjurmarg, Bhandup and Mulund are at a throwaway distance from LBS Marg.

Meanwhile, the IT and ITeS sector drives the commercial properties around LBS Marg. Finance, Banking and Management Consultancies and even premium hospitality majors are aggressively scouting for land around the LBS Marg belt from Ghatkopar to Thane.

Corporate majors like Wipro, Accenture, CapGemini, WNS Spectramind, ICICI Prudential, HCC, Colgate Palmolive, CIPLA, Johnson & Johnson have already set up their base in the region and quite an impressive demand is there for Grade A quality office space.

The property values, however, are still far lower than places like BKC, and this is something that is driving the demand curve in the area. According to sources, the lease rates here in this region are from Rs 50 to Rs 200 per sq. ft against Rs 200-Rs 350 per sq. ft of BKC.

For more details on Mumbai Property Prices, log on to magicbricks.com

I don’t know a thing about you, but I am willing to bet that you think your taxes are too high. Let’s face it, we all know that we pay taxes for a reason but sometimes it just feels like we pay too much. After all, we worked hard for our money! Why do we have to give so much of it away? We pay federal income tax, Medicare tax, somebody named FICA takes a huge chunk of our change; we pay state taxes and even local taxes. We even pay property taxes on our land. That is probably the tax you hate most—your property tax. You pay money to your state and city governments on your property. So in a way, you could pay for that property two or three times: once to buy it, once for local property tax purposes and once for state property tax purposes. Of course, in Texas it is different. In Texas, you can actually save money because you only pay Texas property taxes once.

In Texas, you only pay property taxes to your local a local taxing unit. In Texas, you will not have to pay state property tax. This means that the money you pay in Texas property taxes each year funds only your city, county and (if you live within the boundaries of one) school district.

This is partly how taxes were originally supposed to work, and it helps take the sting out of your property taxes when you can see the people who are benefited by them. After all, you live in the same district as the school you are funding. You don’t have to wonder where your Texas property tax money is going. You can see it working within your community. In fact, you get to have a say in how your property tax is spent! In Texas, the county, city, school and the special districts decide how they spend the money that is paid in property taxes. If you are active in your community, you could help make these decisions.

Your property will get looked over by an appraiser and then you are notified of how much Texas property taxes you will owe. This number is not set in stone; you have a right to dispute the report. You can file a dispute or an application for a tax exemption until April 30. Starting on May 15, an appraisal review board starts going through the disputes and applications and makes decisions regarding final tax amount.

In conclusion, living in Texas can save you a considerable amount of money in Texas property taxes because it does not have a state property tax. Not only that, but it is one of the few states in the union that invites its tax payers to be a part of every step of the taxing process. You can help decide how much you will pay in taxes and how your tax money will be spent. No other state in the union has such a citizen-centric tax process.

The North Shore of Lake Pontchartrain is filled with small communities and cities that offer the best of both worlds: easy access to big city amenities and the atmosphere of small town living. This is the draw that most people feel when it comes to purchasing real estate and making those important decisions about where you will live and work.

There are few decisions you will face in life that are more important than where you will raise your family. In other words, the place you will call home. The area known as the North Shore presents many beautiful options when it comes to establishing roots and growing families.

This is also an incredible place in which to enjoy the single lifestyle with its close proximity to New Orleans, the Mississippi Gulf Coast, and the many attractions and events that abound throughout the region.

Do not make the mistake, however, of allowing the allure of New Orleans and the big city lifestyle to overshadow the many benefits of Mandeville, Louisiana. Real estate is one of the first things you will want to consider. Real estate is much more affordable in St. Tammany Parish as you will get much more house for your money with your Mandeville La real estate buy.

Another important consideration when it comes to real estate in Covington, Louisiana and other surrounding areas is the education that can be had for the price of a longer commute in most cases.

When you look at the big picture, Covington, Louisiana real estate has a lot to offer growing families as well as those that are just starting out. Schools are only a small token of the many family benefits that abound on the North Shore of Lake Pontchartrain with the lake itself being one of those attractions that most families find an enjoyable part of living there.

Hammond Louisiana real estate is another worthy consideration for those seeking to escape the hectic pace of life in the immediate vicinity of New Orleans, Metairie, or Kenner. You will face a little bit longer of a drive time, but prices for real estate are much lower than in New Orleans.

There are plenty of attractions that are well suited for families in the area as well. One huge event to take place in the Hammond area is the Louisiana Renaissance Festival held each year in the fall.

Couple events such as this with easy access to New Orleans and other North Shore communities, and Hammond is yet another winner for those seeking not only a home for their families but also a sense of community that is often absent in larger cities.

When it comes to quality of life, Mandeville Louisiana real estate is truly one of the best available options for families in or around the Crescent City. Check out the local school systems, entertainment and cultural events, and take advantage of the close proximity to all of the conveniences that cities such as New Orleans have to offer consumers, businesses, and families alike.

There are few living arrangements that offer all of these benefits tied up in the pleasant package that St. Tammany Parish presents.

Commercial real estate means a property that is able to generate additional income for the its owner. When one says commercial real estate it generally includes building for offices, apartment units, real properties, raw land and condos. All kinds of properties that are able to produce revenue for the owner are called commercial properties. Commercial real estate does not include those that are habitable such as apartment building or houses.

During the last decade there has been a lot of people who has been investing in it or land that are considered commercial. People are generating huge income out of these commercial real estates. There are certain principles of commercial real-estate. The owner of the property, the agent of real estate and the developer follows the same principles. The agents of real estate that are used for commercial purposes help in giving the best features to a prospective buyer. They also provide the best deals so that the buyers can buy from them and in the process can increase their profits. Agents of commercial real estate are helpful for tenants and buyers.

The best commercial estate should be chosen depending on ones requirements. Choosing the property at the best of locations helps in future growth and development of the commercial property. The benefits of a good location are enormous as the number of people visiting and buying from ones commercial establishment is high. It should be chosen in such places for higher efficiency. The best areas to choose a commercial real-estate are near areas of high traffic like railway station or bus station. These areas can be used for restaurants, stores or hotels.

The best way to generate high revenues is by investing in such property. It is important to remember that investing at the right time and right place is the best way to earn more and more profits. The best way to find a good real-estate for commercial purpose is by consulting financial advisors. Even if one has a small business investing in commercial real estate is a good option as business can be expanded by buying such type of property in an appropriate place. In case of people with large business commercial real estate is the best place and way to expand business and generate more revenue.

However it is important to remember that there are several providers of commercial real estate. So the reputation of the concerned provider should be thoroughly checked. Moreover there are several terms and conditions and interest rates and these should be checked before entering into an agreement in order to get the best deal.

There are several websites that give the best deals in such a business. So the best way to search the best deals is through there Internet as one finds a lot of information on agents and financial institutions that provide quotes of its properties. By using the on-line facility one can save a lot of time and money on knowing the various rates. Apart from these advantages comparison on the services provided can be made.

DATELINE:  BOSTON, MA…

Do you know how to protect yourself from the next Bernie Madoff when you choose a broker or make an investment? Attorney Lee Holland, of Tarlow, Breed, Hart & Rodgers, P.C. of Boston, MA, firmly believes in the age-old adage that if an investment opportunity sounds too good to be true it probably is.

However, Attorney Holland, who is also a Public Arbitrator for the Financial Industry Regulatory Authority (FINRA), the largest independent regulator for all securities firms doing business in the United States, urges investors to go a step further to arm themselves against the potential of investment fraud.  

“Education and information are the best tools against possible investment fraud. As a FINRA arbitrator I see the aftermath of poor choices made by both investors and financial industry professionals. As a result of this experience, I have become a strong proponent of promulgating information to better educate those on both sides of the investment equation and have found FINRA to be a great educational resource,” explains Holland.

Despite the high profile cases of investment fraud in the headlines, the potential for new fraudulent investment schemes may increase as investors, eager to recoup their losses in times of continued economic uncertainty, fall prey to a new generation of scam artists.

To help avoid investment fraud:

1.    Verify the license of anyone promoting an investment opportunity:

•    For brokers check www.FINRA.org

•    For investment advisors visit www.adviserinfo.sec.gov

•    For insurance agents check your state insurance department

•    For all sellers check with your state securities regulator

2.    Verify that an investment is registered:

•    Check investment registrations at www.sec.gov/edgar.shtml

3.    Be aware of the warning signs of investment fraud:

•    Unreasonable guarantees

•    Unregistered products

•    Promise of no fluctuations in returns

•    Complicated investment strategies

•    Undocumented securities or stocks

•    Incomplete or inaccurate account statements

•    Pushy salespeople warning you must “act now”

4.    Avoid fitting the investment fraud victim profile found in a 2007 FINRA survey:

•    Victims often own high-risk investments, including penny stocks, promissory notes, futures, options or private investments in foreign currency;

•    Victims tend to rely primarily on friends, family, co-workers for investment advice (70 percent)

•    Victims can be too open to new investment information (for example, three times as many victims went to a free investment seminar than the national sample)

•    Victims may fail to check the background of an investment or a broker

•    Victims are often unable to spot persuasion tactics used by fraudsters

Holland urges all investors to invest their time becoming better educated, before investing their money, to avoid the risk of becoming a future victim of investment fraud. Attorney Holland, an Associate in Tarlow, Breed, Hart & Rodgers’ Litigation Group, has extensive experience with alternative dispute resolution, both as an advocate and as a neutral.

FINRA

FINRA, the Financial Industry Regulatory Authority, is the largest independent regulator for all securities firms doing business in the United States. FINRA is dedicated to investor protection and market integrity through comprehensive regulation. FINRA touches virtually every aspect of the securities business – from registering and educating all industry participants to examining securities firms; writing and enforcing rules and the federal securities laws; informing and educating the investing public; providing trade reporting and other industry utilities; and administering the largest dispute resolution forum for investors and firms.

Tarlow, Breed, Hart & Rodgers, P.C.

Formed in 1991, Tarlow, Breed, Hart & Rodgers, P.C. is committed to providing high quality, comprehensive legal services to its clients. Featuring a breadth and depth of experience and perspective usually found only at larger law firms, Tarlow, Breed, Hart & Rodgers. P.C. offers sophisticated legal counsel to entrepreneurs, businesses, individuals, families, and institutions.

Tarlow, Breed, Hart & Rodgers’ areas of expertise include corporate law, employment matters, mergers and acquisitions, litigation and dispute resolution, estate planning, taxation, real estate, bankruptcy, and municipal law.

The offices of Tarlow, Breed, Hart & Rodgers, P.C. are located at 101 Huntington Avenue, Prudential Center, in Boston, MA 02199. For additional information, or to arrange for a consultation, please call 1-617-218-2000, e-mail info@tbhr-law.com, or visit www.tbhr-law.com.

The popularity of condos in the booming Guanacaste region in Costa Rica has spawned a new industry for local residents and entrepreneurs. As the tiny villages along the coast trade in their wilderness for billion dollar investments, locals are trading old jobs for marketing kits and tool belts. In the wake of the boom, property management services have been springing up to satisfy the needs of absentee property owners who want to rent their homes to tourists as vacation properties.

Since development on the $400 million Peninsula Papagayo project began in 1997, construction and real estate sales in Costa Rica’s Guanacaste region have been on a roll. According to Costa Rica’s Central Bank, big business foreign investment in real estate has nearly tripled in the past 12 months – most of it in Guanacaste. The majority of these purchases represent investments in the tourism industry with large scale hotels, developments and existing tourism businesses being snapped up by savvy entrepreneurs.

But not all investment in the tourism industry represents big business. Individuals and families attracted by the climate and natural beauty of the area are getting in on the action. Discovering that condominiums make fantastic and affordable vacation homes while providing a viable source of income, people from all over the world are buying up condos in the country. But managing a property when you are out of the country is next to impossible and leaving your vacation home unoccupied for months is downright risky. Absentee owners can return to find they’ve been robbed or even worse – that their property is being inhabited by squatters.

Many condominium projects address this problem directly by providing property management services as part of the deal at buy-in. Owners can enter their property into the project’s rental program and have their interests taken care of. Depending on what level of involvement you wish to have, property management companies will take care of everything – from security to housekeeping. For a monthly fee, you can count on your manager to be your hotelier with a complete package that includes marketing, booking, cleaning, and maintaining the property while on site security removes the risk of unexpected or uninvited guests.

s of Using a Property Appraisal Company

One of those steps is having the property appraised by an experienced property appraisal company. While you are not usually required to have the property appraised unless you will be financing it with a loan, there are still many advantages to using a property appraisal company.

Advantages Of Property Appraisals

The primary advantage of using a property appraisal company is to ensure that the property you are purchasing or that you own is really worth the purchase price. Obviously, you do not want to pay more for the property than its market value. Considering the fact that the purchase of a home is typically the largest investment most people make, it can certainly be worth it to ensure you are not overpaying.

Obtaining a property appraisal can also help to reduce your tax burden in some cases as well as provide you with an important negotiation tool. In the event that the property is assessed at a value that is lower than the sales price you may be able to use the appraisal in order to negotiate a lower price. You can also use the appraisal to contest property taxes that may seem to be too which. Consequently, property appraisals can also be helpful tools for individuals who already own a property as well.

What to Look for in a Property Appraisal Company

Whether you are a buyer or you already own your home, when hiring a property appraisal company it is important to look for a professional company who can handle all of your needs. There are several important areas you should consider when hiring a appraisal company, including whether they are approved by your lender, have online capability, are in good standing with the BBB, offer speedy service and have sufficient experience.

The ultimate goal is to locate a property appraisal company that will be able to come in and review the property, compare it to other local properties and provide an opinion regarding the value of the property that is completely professional and unbiased.

The Bottom Line of Using a Property Appraisal Company

While a property appraisal does involve a small investment, the cost of the appraisal is negligible when considering the many advantages it offers. The cost associated with not having a property appraisal can ultimately be much higher than the small cost involved in obtaining one. The simple fact is that while real estate agents often have a fairly good idea of what a home is worth, they typically only take the cosmetics of the property into consideration. Professional real estate appraisers take a wealth of other relevant and important factors into consideration and provide a well-rounded and solid figure regarding the value of the property. You can find out more information about professional, solid property values at http://gsvalue.com/appraisal

Florida real estate offers more than just single family homes or condominiums. To meet the requirements of the different types of real estate investors, there are different types of properties being constructed throughout Florida.

Beach Homes: Beach homes are ideally located near the beautiful beaches that surround Florida. They are located near the Gulf and Atlantic beaches. Beach homes are ideal for those who are looking for a different living style in their advancing years or holidays. These houses offer good investment options too. After all, Florida real estate is one among the top real estate markets that have been maintaining a steady growth in the recent years.

Luxury homes: Luxury homes are the big fishes in Florida real estate. There are customized luxury condos and large exclusive single family homes that suit the requirements of differently sized families or income levels. There are special mansions and grand estates also for those require luxury in the finest form. All the major cities including Clearwater, Tampa, St. Petersburg, etc., offer luxury homes of various styles and price ranges.

Master Planned Communities: These are the large home communities that are systematically constructed and managed by the respective authorities. All of these are provided with the typical community facilities such as parks, swimming pools, spa, club, gymnasium, etc. More advanced communities are provided with additional features such as boat slips or country clubs. Because of the large population centered in these communities, almost all utilities such as schools, banks, hospitals, shopping malls, etc., are at hand’s reach to the residents. There are well-known communities constructed by reputed builders in Florida with a view to accommodate a large number of people by utilizing the land and resources in its finest form. There are differently sized houses, with different floor plans and appropriate prices.

Retirement Community: There are different types of houses offered for the adult community who are looking towards spending the evenings of their life in fruitful manner. There are special single family homes, villas, condos, that suit different category of senior citizens. These houses are provided with recreational facilities such as golf clubs and fitness centers, spa, pool, etc. All the utilities such as shopping malls, banks, theatres, etc. are at close proximity to these houses.

Modular Homes: These are otherwise called the system-built homes. These homes are built inside the factory in parts and are carried to the respective sites where they are transferred to the local builders. The modular homes satisfy all the prerequisites that are required for the construction of a normal house, and they are subject to the regulations of a normal home built in that area. The most important aspect of these homes is that the construction can be carried out within days provided the builder procures the parts from the factory.

As you can well see there are many different choices in home styles for every budget in Florida. Finding one that meets your specific requirements is easy. Spend some time with your Florida real estate agent going over the pros and cons of each type of housing style and you will begin to determine which type of home style is right for you and your family.

Mumbai Extravaganza offered a unique platform for international real estate institutions as well as developers to launch and promote new products. Apart from high net worth individuals, the high life show also attracted professional advisors such as lawyers, bankers, brokers, top management and decision makers of Mumbai´s leading corporations, successful entrepreneurs and celebrities.

Mohamed Binbrek, CEO of Dubai Properties, said: “We were pleased with our presence at Mumbai Extravaganza. The event gave us an opportunity to present investors with instant information on the latest developments from Dubai Properties, as well as introduce our latest project launches to a new market.

“Indian nationals are amongst the top investors within the booming real estate market in Dubai. The geographical proximity of India makes it an increasingly attractive sector for property developers in the UAE to contemplate. India itself is an emerging and credible market that boasts many international conglomerates and high-net worth investors with whom we are keen to meet and conduct business with.”

In 2007, Indian Nationals spent AED 4 billion on real estate in Dubai, and over the past 10 years, Indian Nationals have spent a total of AED 6.5 Billion on the Dubai Real Estate sector. While the majority of these buyers were Indians living within the UAE, 10% of them were living in India or otherwise, proving the existence of a substantial demand for Dubai real estate from outside the UAE.*

Dubai Properties was presented in the luxury event by Shorex Ltd. the award-winning London-based wealth management event specialist.