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Washington, DC, United States (AHN) – Lawmakers passed a resolution on Wednesday, their last day of session before the mid-term elections, funding government operations until after they return from their recess. The stopgap measure was needed since both the House and the Senate haven’t passed a single appropriations bill for the next fiscal year, which begins on Friday.

By 228-194, the House passed a continuing resolution extending into December appropriations for the State Department, foreign operations and related programs past the fiscal year ending Sept. 30. Only one Republican, Rep. Joseph Cao (R-LA), voted in support.

In the Senate, the the temporary spending measure passed 69-30 with Sen. Russ Feingold (D-WI) as the sole Democrat opposing. Sen. John Thune (R-SD) offered amendments providing funding until February and reducing all non-defense spending by 5 percent, but both measures failed along party lines.

“With the new fiscal year beginning on Friday, the continuing resolution put forward by my Democrat colleagues only perpetuates the out of touch federal spending levels we have witnessed in recent years,” Thune said in a statement.

Lawmakers are scheduled to return to the Capitol for a lame-duck session on Nov. 15, when the 12 annual appropriations bills for the 2011 fiscal year are expected to be approved. A backlog of bills will also be tackled, including the repeal of “Don’t Ask, Don’t Tell” and the extension of 2001 and 2003 Bush tax cuts that are due to expire in January.

Democrats were hoping to pass a jobs bill to address the 9.6 percent unemployment rate before the elections, but could not muster enough votes to overcome Republican opposition. They sought to extend tax cuts for middle class families earning less than $250,000 a year.

The GOP, however, wants to make the tax cuts permanent for all including high-income earners. They’ve been accused by the White House of “holding the middle class hostage,” but they argue that the government should not raise taxes during a recession.

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Real estate sector in India is expected have $1.5 billion additional investment in 2010-11. In fact, the property sector in India is a Rs.70,000-crore industry and the new reported investment is in addition to this amount. This expected additional investment is a three-fold increase over that of the corresponding period of 2008-09. This will pump in much life-blood to the industry which has had a slump and stagnation for about 15 months in the wake of the global economic meltdown. The main collaborators of the additional fund are reportedly RedFort Capital, Xander Real Estate Partners, ICICI Prudential Infrastructure Fund, Sun Apollo and HDFC India Real Estate Fund. Most of these investments are expected to be in the metro centres and Tier 2 cities.

Of the additional $1.5 billion additional investment in the real estate sector in India in 2010-11, domestic contributors will put in to the tune of $400 million. The remaining fund of $1.2 billion is to come from international investors. In the words of Amit Goenka, national director, Kinght Frank Indian (P) Ltd: “These estimates are based on the total active domestic and international funds and their existing corpus strengths. There are some active domestic players like HDFC, ICICI Prudential Fund, IndiaREIT, Milestone and ASK who are expected to do deals in 2010. The bulk of the funds are, however, foreign, with much larger corpuses.” Nagarjuna Constructions, Parsvanath, Godrej Properties and a few others have already struck deals with these fund investors.

In the context of real estate India ,This sector has $1.5 billion additional investment in 2010-11, real estate groups in India like Emaar, MGF, Purvankara, Omaxe, Ambience, etc. are reported to be planning to enter in to private equity (PE) deals for their residential property projects. Some other real estate majors have announced qualified institutional placements (QIP) and initial public offerings (IPO). Reportedly, a number of Tier 2 developers in the Delhi NCR, Bangalore and MMR regions are in negotiations regarding PE funds for their residential units at various locations in the country. Most of the projects are located in metro centres such as Delhi NCR, Kolkata, Chennai, Mumbai, Bengaluru, Gurgaon, Ghaziabad, Faridabad, Pune, Hyderabad, Bhopal, Bhubeneswar, Jaipur, Lucknow, Goa, Chandigarh, etc. In the words of Abhishek Kiran Gupta, research head of the property consultants of global repute, Jones Lang LaSalle Meghraj (JLLM): “While abnormally large returns can be found in specific projects throughout the country, we have limited our analysis to India’s seven largest cities due to high residential demand from their large populations, relatively higher transparency levels and presence of premium regional and national developers. In order to round out our top 10 list, we have also included three additional noteworthy cities which we feel have the potential to provide significant returns to investors.”

Joseph Smith have 3+ years of experience in content writing of Property India,property in India,properties in india to buy,real estate India,commercial properties india, Real Estate Gurgaon .

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