Training Program on ‘Contract Management’ Conducted by NIREM

A two-day management development program on ‘Contract Management’ was conducted by NIREM for Mahindra World City, Jaipur on 20-21 May, 2014. Managers from diverse functional areas such as contracts, legal, MEP, IT etc. participated actively in the program.

The program focused on tender processing, contract management & administration, Key Performance Indicators, Contract Reporting, Contract Closeout, Claims, Disputed & Settlement, Alternative Dispute Resolution etc. Participants actively participated in the program and were especially interested in topics like time and cost escalation and resulting claims and settlements. Another important topics that was actively debated was the tender process and management.

Since the faculty members were highly experienced and included former Additional Director General of CPWD and Director of a leading construction company, they could throw light on each aspects of contracts. Actual and real life examples of contract clauses, claims, disputed, settlements etc. were the highlight of the two days of the training.

Mahindra Word City (Jaipur) Limited, a 3000 acres SEZ, is a joint venture between Rajasthan State Industrial Development & Investment Corporation Limited (RIICO- A State Government Enterprise) and Mahindra Lifespace Developers Limited (a Mahindra Group Company). The Project has multi-sector SEZs and Domestic Tariff Area.

NIREM is the leader of real estate education in India. It offers classroom training, distance learning programs, workshops and in-house training for companies in real estate, housing finance and construction sectors.

NIREM focuses on conducting need based training program various topics related to real estate, housing finance and construction sector. In the series, NIREM is organizing a training program on ‘Property Documentation’ on 15^th July, 2014 at New Delhi. For further details, please contact at 07827884220 or Nirem.india@yahoo.com

SEBI demands tax concessions on real estate investment trusts

Seeks clarity on taxation of FIIs in infrastructure corporate bonds

Indivjal Dhasmana  |  New Delhi 

June 21, 2014 Last Updated at 12:18 IST

Ahead of the Budget, the Securities and Exchange Board of India (SEBI) has taken up with the government taxation issues for the proposed Real Estate Investment Trusts as well infrastructure  corporate bonds. 

"We have come out with a discussion paper on Real Estate Investment Trust and are hoping to get it implemented soon.  Our rules are ready, we have taken up with the government that these must be given a pass-through certificate status so far as tax status is concerned," SEBI chairman U K Sinha said at a summit organised by Skoch Consultancy Services. 

Sinha expressed the hope that the government will consider the demand favourably. 

"The moment there is a clarity on that, we will come out with our regulations," he said.

Sinha also  wanted a tax clarity on infrastructure corporate bonds for  foreign institutional investors (FIIs). 

"In the infrastructure sector, if a bond is issued and there is a FII, which is investing in that, what is the level of tax with that entity? If  it is vastly different from the withholding tax which is imposed on others, should there be different set of rules for FIIs and domestic institutional investors? These are the issues we are looking at," Sinha said. 

He  also  wanted the government to enact a  law  to replace  an ordinance which provides  SEBI the regulatory jurisdiction of  all  unregulated entities  that take  deposits of at  least  Rs  100  crore.  

"An ordinance is an ordinance. It has a limitd life. I am hopeful that the government will consider that this ordinance is converted into an act very soon," he  said.    

The SEBI chairman said there are still a large number of unregulated fund raising activities. These are coming under various names--chit funds or nidhi companies, housing schemes. 

"That menace has not still been fully controlled."

Sinha disclosed that  since the  ordinance  was promulgated, SEBI has taken action in more than 25 cases. "We have passed our orders, we have stopped them from raising money." Source: Business Standard

NIREM organized training program on 'Effective Marketing of Properties to NRIs'

NIREM Institute of Real Estate Management conducted a one-day training program on ‘Effective Marketing of Properties to NRIs’ at Delhi on 27^th May, 2014. It was a huge success considering the participation from top property developers, property consultants, online real estate companies, media etc.

Few of the organizations that sent their senior management team for this training program are Emaar MGF, OMAXE, Times of India, Magic Bricks etc.

While starting the program, the Program Director Dr. Pinaki Dasgupta said “the Indian Diaspora (NRI & PIO) is 25 million strong, spread across all continents and most countries of the world and possess great potential for real estate developers. NRI property buyers and investors become all the more important for Indian property developers and brokers because of the ongoing slowdown in the domestic real estate market. However property marketing firms need to know much about NRI property buyers and investors in order to market their properties successfully especially about their financial profile, investment trends and preferences, best marketing strategy to reach such targets. These issues are being covered in today’s training program on NRIs”.

On completion of the program, participants expressed their satisfaction over the newly found knowledge about NRIs and their investment trends and preferences. One of the participants said that now he would target African NRIs because of the insights about them received during the program. However another participant was of the view that now it would be much easier for him as well as his organization to target NRIs in Bay Area, US because of the efficacy of penetration of social media discussed during the program.

Overall, the program was organized quite successfully especially because of the trainers who were expert5 in their domain area such as NRIs, international marketing management, international marketing of properties, social media. Participants were quite interactive that added to the success of the program.

NIREM conducts similar need based and market oriented programs and in series the next is a training program on ‘Property Documentation’ scheduled on 15^th July, 2014. Interested participants may get in touch with NIREM at 07827884220 or mail to nirem.india@yahoo.com