NBCC has launched “NBCC Town” scheme at Khekra on Delhi – Sharanpur Highway. 19 Km Away from the ISBT, the flats start at a price of 6.75 Lac for One Bedroom Flat (493 Sq. ft.) at 4th Floor of Lotus Apartments. The scheme opens from 25th August,2009.
NBCC has come up with four type of apartments. The Lotus apartments (4 Storey) will house One bedroom Flats. Lilly apartments (4 storey) will house 2 bedroom flats. Tulip Apartment (4 storey) will house 3 Bedroom and Marigold Towers (7 storey) will also house 3 Bedroom flats but will have facility of stilt Car parking.
The costliest flat in the scheme is located at the First Floor in the Marigold Towers with an area of 1100 Sq. Ft. and is prices at 17.8 Lac for 3 Bedrooms with 2 Balconies. Car parking will cost additional 1.25 Lac for flats at Marigold Towers.
The application form is available at the NBCC Bhawan at Lodhi Road and Sector 41 Noida at a price of Rs 100.The forms are also available at designated branches of HDFC Bank, Union Bank, Corporation Bank and Axis Bank.The application form for NBCC Town can be downloaded here:
http://www.nbccindia.com/nbccindia/public/jsp_pub/loni_details.jsp
NBCC has come up with four type of apartments. The Lotus apartments (4 Storey) will house One bedroom Flats. Lilly apartments (4 storey) will house 2 bedroom flats. Tulip Apartment (4 storey) will house 3 Bedroom and Marigold Towers (7 storey) will also house 3 Bedroom flats but will have facility of stilt Car parking.If you are a working or retired Government / PSU Employee then you are eligible for a special discount of 5%.
FOR FURTHUR DEATILS CHECK THE WEBSITE: WWW.NBCCINDIA.COM
Saturday, August 22, 2009
NEW TAX DRAFT CODE :HIGHLIGHTS
The 47-year-old direct tax law in India may soon be history. The draft of a new direct tax code was unveiled on Wednesday and will become law in 2011 after a process of due consultation.
But what's more important is the big shift proposed in the way we compute tax and the entire philosophy behind taxation.
Here are some of the simplified Highlights of the the Draft Tax Code bill (I have highlighted the ones that are important):
1.Higher income tax slabs, lowering net payable taxes.
New tax slab
Up to Rs1.6 lakh: No tax
income between Rs160,000 and Rs10,00,000 20% tax
for income between Rs10,00,000 and Rs25,00,000
30% tax for income over Rs25,00,000
2.Lowers the incidence of tax on corporate and individual incomes
3.Reintroduces wealth tax and capital gains tax, albeit at lower levels:securities transaction tax (STT) is scrapped, capital gains tax unified to one in the long and short term and wealth tax reduced to 0.25 per cent from one per cent with an increase in limit to Rs 50 crore.
4.Scope of income tax expanded to include value of perks, gifts, profit in lieu of salary and capital gains but excludes farm income
5.Removal of most exemptions
6.All long-term savings to come under EET
7.Tax exemption to PPF and other pension schemes on withdrawals accumulated up to March 31, 2011.
8.The code proposes to abolish STT.
9.Wealth to be taxed on net basis; Amount in excess of Rs500mn to be taxed at 0.25%
Moves the base year for calculation of capital gains tax to April 2000
10.Dividend will continue to be tax-free in the hands of investors
Effective corporate tax rate at 25% with no surcharge or cess
11.MAT to be levied on gross assets as against book profits now
MAT to be 0.25% for banking and 2% for others
MAT carry forward to be disallowed
12.Business losses to be carried forward indefinitely
13.No tax deduction on interest payable on any government security
14.Wealth tax liability to be discharged by payment of prepaid taxes
15.Rationalization of taxes for all non-profit organizations
16.Annual disclosure of profits of non-life insurance businesses
17.Govt may enter overseas agreements for double taxation avoidance
18.No tax deduction on interest payable to banking firms and insurerance companies.
Download full tax code bill 2009
http://finmin.nic.in/DTCode/Direct%20Taxes%20Code%20Bill%202009.pdf
But what's more important is the big shift proposed in the way we compute tax and the entire philosophy behind taxation.
Here are some of the simplified Highlights of the the Draft Tax Code bill (I have highlighted the ones that are important):
1.Higher income tax slabs, lowering net payable taxes.
New tax slab
Up to Rs1.6 lakh: No tax
income between Rs160,000 and Rs10,00,000 20% tax
for income between Rs10,00,000 and Rs25,00,000
30% tax for income over Rs25,00,000
2.Lowers the incidence of tax on corporate and individual incomes
3.Reintroduces wealth tax and capital gains tax, albeit at lower levels:securities transaction tax (STT) is scrapped, capital gains tax unified to one in the long and short term and wealth tax reduced to 0.25 per cent from one per cent with an increase in limit to Rs 50 crore.
4.Scope of income tax expanded to include value of perks, gifts, profit in lieu of salary and capital gains but excludes farm income
5.Removal of most exemptions
6.All long-term savings to come under EET
7.Tax exemption to PPF and other pension schemes on withdrawals accumulated up to March 31, 2011.
8.The code proposes to abolish STT.
9.Wealth to be taxed on net basis; Amount in excess of Rs500mn to be taxed at 0.25%
Moves the base year for calculation of capital gains tax to April 2000
10.Dividend will continue to be tax-free in the hands of investors
Effective corporate tax rate at 25% with no surcharge or cess
11.MAT to be levied on gross assets as against book profits now
MAT to be 0.25% for banking and 2% for others
MAT carry forward to be disallowed
12.Business losses to be carried forward indefinitely
13.No tax deduction on interest payable on any government security
14.Wealth tax liability to be discharged by payment of prepaid taxes
15.Rationalization of taxes for all non-profit organizations
16.Annual disclosure of profits of non-life insurance businesses
17.Govt may enter overseas agreements for double taxation avoidance
18.No tax deduction on interest payable to banking firms and insurerance companies.
Download full tax code bill 2009
http://finmin.nic.in/DTCode/Direct%20Taxes%20Code%20Bill%202009.pdf
Tuesday, August 18, 2009
L & T FINANCE NCD DETAILS
| Investment Details | ||||||||||||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||||
| Issue: 50,00,000 NCDs of Rs.1,000/- each aggregating to Rs.500 Crores with an option to retain over-subscription upto Rs.500 Crores for issuance of additional NCDs, aggregating upto a total of Rs.1,000 Crores. | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock Exchanges proposed for listing: NSE. Issuance and trading In Demat form only. Depository NSDL and CDSL. Rating(s) CARE AA+ by CARE and LAA+ by ICRA. | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Issue Schedule – 18th August’09 – 4th September’09 Deemed Date of Allotment Deemed date of allotment shall be the date of issue of the letter of allotment. Min. Application Money Rs. 10,000 and in multiples of Re. 1,000 thereafter. Interest Payment Quarterly Option, Semi-annual Option, Cumulative Option, Semi-annual Option. Tenor 60 months, 91 months, 120 months respectively. RECOMMENDATION:- APPLY | ||||||||||||||||||||||||||||||||||||||||||||||||||
| | ||||||||||||||||||||||||||||||||||||||||||||||||||
| |
Tuesday, May 19, 2009
Time to be euphoric?
"Stock market is a voting machine in the short term and weighing machine in the long term."
with a stable government in place a lot of things would be happened––India would be re-rated from the S&P or Moody’s point of view, the investment climate will improve and India would be a capital investment story. India’s growth rate improves to 6–6.5% that will account to about 20%–22% of the global growth. A country that gives such kind of growth cannot be ignored. So I expect $50 billion investments coming in the full year either in the form of FDI or Porfolio Investment. However,“I think retail investors should be cautious at this point in time.” One should focus on bottom up approach and invest in the stock at the appropriate level rather than looking at the market indices.
The double freeze at the circuit breaker may be a pleasant shock for sentimental purpose. The bulls may have enjoyed a pleasant day in the woods. But the fact remains we are not out of the woods as yet and never know which beast could cause trouble.
Plug into reality and you will realize this overdone ovation is a hope that the best brains would get their act together to decouple India from the myriad of woes plaguing the global economy. Clearly the exuberance has been overdone. Clearly there are several headwinds still to be tackled, both local and foreign.
The market has got into a nice rhythm and will see increased participation in terms of players as well as in terms of stocks. However I caution, it is important not to get carried away by the euphoria but still look for opportunities to increase exposure to equities.
There in no need to indulge in "Panic" buying as every market gives at least one opportunity to enter or exit at correct levels. However there are lots of investors who has left out the entire rally. Huge Liquidity is sitting on the fence to enter into the market which will provide enough support and cushion in the event of any pull back.
with a stable government in place a lot of things would be happened––India would be re-rated from the S&P or Moody’s point of view, the investment climate will improve and India would be a capital investment story. India’s growth rate improves to 6–6.5% that will account to about 20%–22% of the global growth. A country that gives such kind of growth cannot be ignored. So I expect $50 billion investments coming in the full year either in the form of FDI or Porfolio Investment. However,“I think retail investors should be cautious at this point in time.” One should focus on bottom up approach and invest in the stock at the appropriate level rather than looking at the market indices.
The double freeze at the circuit breaker may be a pleasant shock for sentimental purpose. The bulls may have enjoyed a pleasant day in the woods. But the fact remains we are not out of the woods as yet and never know which beast could cause trouble.
Plug into reality and you will realize this overdone ovation is a hope that the best brains would get their act together to decouple India from the myriad of woes plaguing the global economy. Clearly the exuberance has been overdone. Clearly there are several headwinds still to be tackled, both local and foreign.
The market has got into a nice rhythm and will see increased participation in terms of players as well as in terms of stocks. However I caution, it is important not to get carried away by the euphoria but still look for opportunities to increase exposure to equities.
There in no need to indulge in "Panic" buying as every market gives at least one opportunity to enter or exit at correct levels. However there are lots of investors who has left out the entire rally. Huge Liquidity is sitting on the fence to enter into the market which will provide enough support and cushion in the event of any pull back.
Flat Buyers, Beware!
Be Careful While You Book A Flat.
Signing blindly the agreements that the developers want you to sign will place you at a disadvantage
Before construction is set to commence, the developers protect themselves from all expo-sures by forcing the buyers to sign a "buyer's agreement" which is unilateral and biased in nature and content. Buyers are given no exit option - either they sign the agreement or pay the penalty for not signing it. The penalty entails cancellation of the flat and forfei-ture of the Earnest Money Deposit (EMD). The EMD accounts for 10 per cent of the cost of the flat already paid. The agreement is couched in such a language that the buyer can never dream of raising any representation / objection to any act of commission and omission on the part of the developers. Since it is a lengthy document, everybody signs without reading it but actually it could shock the buyer into disbelief when he / she actu-ally reads and understands it.
a) While booking, the developers declare in the brochure that the flat will be handed over to the buyer within 36 months from the date of booking. But the agreement on the other hand, says it is 36 months from the date of signing the agreement.
b) The agreement lays down in the definitions that the `super area' of the flat is sub-ject to change. It is understandable that post construction, the actual super area may change slightly but how can a definition change? After all, definition is about things definite and not indefinite!
c) All payment clauses mentioned are one-sided; whenever there is a price escalation, the buyer has to pay the escalation on demand but the developers will adjust the fall in prices, if any, at the end of the project.
d) The developers take it in writing from the buyer that the buyer surrenders all rights to challenge/represent against the developer in a court of law and the developers have the sole discretion to stipulate payment conditions, change specifications, etc, in a manner deemed fit by them.
e) Post construction, buyers sign a `maintenance agreement', without any represen-tation from their side. However many developers do not disclose its content while the buyer signs it. How can a buyer be forced to commit to sign a document whose content will be disclosed after, say, two years?
f) Developers undertake that provision of a three-tier security system is their respon-sibility but in the agreement they seek indemnity from theft.
g) Buyer's agreement expects buyers to pay electricity charges for back-up (genera-tor) services, `as decided from time to time'. But the agreement is silent on who will de-cide these charges. Rightfully, it should be decided by a committee on which the buyers are represented.
h) Buyers are bound to pay administrative charges from time to time. But the agree-ment is silent about the actual amount payable for the purpose; nor does it say who will quantify this amount.
i) The agreement expects buyers to pay electricity charges which are at variance with what is charged by the Electricity Board concerned. How can developers charge more for a service that is delivered by the government?
j) Developers protect themselves by mentioning in the agreement that power back-up facilities are an `additional feature' and buyers will indemnify the developers from all damages accruing from faults in the supply of power from the said back-up facilities. But while launching the project, the developers state that the said facility is a part and parcel of the offer. Also developers charge the buyers up-front for this facility.
k) If the buyer mortgages the flat for finance, the developer is indemnified; on the other hand, if the developer mortgages the entire project, all buyers are a party to it.
l) In case of insolvency of the developer, the entire project will be sold off to clear all the dues of the developers first and the balance of the sale proceeds, if any, will be shared by the buyers. This means that the buyers bear the risk arising from the insolvency of the developers and the insolvency of the developers. Further, the agreement does not say when the buyer will get the money back in such a situation.
m) Developers notify the changes in specifications to the buyers. If buyers do not ob-ject to the specifications within 15 days, it will be deemed as accepted. If they do, the allotment will be cancelled. This means that they do not have a right to represent against their grievance.
n) The agreement mentions that while taking over the flat, the buyer relinquishes all rights to challenge any deviation in quality / specifications promised by the developers while booking the flat.
o) Developers have unlimited rights to erect additional towers/buildings, etc, within the same area. This grossly violates the layout furnished by the developers in the brochure during the launch of the project.
p) Developers always seek `IBMS' or `Interest Bearing Maintenance Security'. Buy-ers are expected to deposit the money, post construction. But it is conveniently silent on the rate of interest payable to the flat buyers.
q) Developers indemnify themselves from any damage arising from non-adherence to any clause/condition/covenant of the agreement. Then what is the sanctity of this agreement? On the other hand, the buyer is expected to abide by it religiously.
r) Any expenses arising from the upward revision of the specifications is chargeable to the buyer but the agreement is silent on the reimbursement to buyers, in case of any downward revision.
Source: Merinews.com
Monday, May 11, 2009
Shubh Griha "NANO HOMES"- Details
Types of Flats
1 BHK - 465 Sq. Ft. No. of Flats 660 Price : Rs. 6,74,250
1 RK Large - 360 Sq. Ft. No. of Flats 474 Price : Rs. 5,04,000
1 RK Small - 283 Sq. Ft. No. of Flats 108 Price : Rs. 3,90,540
1 BHK - 465 Sq. Ft. No. of Flats 660 Price : Rs. 6,74,250
1 RK Large - 360 Sq. Ft. No. of Flats 474 Price : Rs. 5,04,000
1 RK Small - 283 Sq. Ft. No. of Flats 108 Price : Rs. 3,90,540
Payment Plan
Rs. 10,000 have to be deposited with the Application form.
7.5% –8.5% (depending on type of flat) of the amount to be deposited within 15 days of allotment letter
85% of the amount to given in 7 Quarterly Installments starting from September,2009
Balance 5% to be deposited at the time of Possession
Rs. 10,000 have to be deposited with the Application form.
7.5% –8.5% (depending on type of flat) of the amount to be deposited within 15 days of allotment letter
85% of the amount to given in 7 Quarterly Installments starting from September,2009
Balance 5% to be deposited at the time of Possession
Expected Date of Allotment : 29th June,2009
Expected Date of Possession: May 14th, 2011
Expected Date of Possession: May 14th, 2011
Forms will be available at Boisar, Virar, Vasai, Palghar, Nallasopara,Dahanu Road, Thane, Borivali(W), Andheri East branches of SBI.In addition the forms would also be available at the Fort Regional Office of Tata Housing. Detail address: http://shubhgriha.com/pages/forms.php
For Details visit the tata's Subhgriha website:
Friday, May 8, 2009
Yamuna Expressway Residential Plot Scheme Extended till 15th May,2009
Why??
The notice says that the Scheme has been extended till 15th May,2009 due to demand from Public. however the real reason behind extendind the date seems :
The notice says that the Scheme has been extended till 15th May,2009 due to demand from Public. however the real reason behind extendind the date seems :
1.With the current downtrend in Real estate prices, investors are worried about the returns from the Scheme
2.The Rate of Rs. 4,750 per Sq. Mtr. is considered to be aggressive given that the Scheme may take at least 8-10 years to develop.
3.Investors have doubts about the progress on the proposed Noida - Agra Expressway itself and any dealy on this project would also delay development under the Scheme.
4.The Agra Noida area is more prone to petty crimes and hence reduce the attractiveness of the scheme from Safety point of view.
TATA LAUNCHES "NANO HOMES"
Tata Housing Development Company has launched a low-cost housing project at Boisar, which is about 80 km from Mumbai.
The company said the model, offering apartments of 283 sq ft, 360 sq ft and 465 sq ft, in the price band of Rs 3.9 lakh-6.7 lakh, would be replicated across tier I and II cities.
Booking starts from May11,2009 and forms would be available for Rs. 200. Allotment would be made on basis of Lottery draw.
Shubh Griha project
Announcing the launch of the project, Shubh Griha, of about 1,200 units, Brotin Banerjee, Managing Director and Chief Executive Officer, Tata Housing, said, "We observed that since most of the people in the low-income bracket live away from their families to earn a livelihood in the big cities, there is a large percentage of migrant population living in either rented or company provided accommodation.
"Our study shows that around 48 per cent in the lower segment are currently staying in rented accommodation. As a real estate company, we are sensitive to the need of providing this segment with their own home along with a community life. We believe in empowering them and giving them the pride of owning a house."
Community concept
He said though it was priced at an entry level, the 'neighbourhood and community' concept would change the conventional residential choice available for this segment of consumers today.
With a balanced mix of buildings and open spaces, the projects would be constructed under the guidance of Indian Green Building Council.
The low-cost housing units at Boisar would be built on about eight acres of a total of 63 acres, which will also have homes in the affordable segment, besides shopping, hospital, schools and other amenities, in subsequent phases.
Banerjee said revenues from the sale of low cost units alone would be over Rs 80 crore, while declining to furnish the total project cost. The units would be delivered in two years.
Booking Process
Applicants can purchase application form costing Rs 200 from select SBI branches across Mumbai. The bookings should be made with an initial booking amount of Rs 10,000 at the bank branches.
The first list and the waiting list will be declared after scrutiny of applications. The allottees would be intimated by Tata Housing along with payment schedule
About Boisar
Boisar is a town in Thane district in the state of Maharashtra. It is located 45 kms (28 miles) north of Virar on the Western Railway line of Mumbai Suburban Railway. By Road, it can be reached from National Highway NH-8, {{convert22kmmi} off from Chilhar Phata. There are regular state transport buses from Palghar, Thane, Bhiwandi and Wada.
Subha Griha Project in Delhi & Bangalore
Tata Housing has intends to launch the affordable flats scheme in NCR and Bangalore in this year itself. It will launch this Scheme in other major cities including Chennai and Kolkata in the coming years.
The company said the model, offering apartments of 283 sq ft, 360 sq ft and 465 sq ft, in the price band of Rs 3.9 lakh-6.7 lakh, would be replicated across tier I and II cities.
Booking starts from May11,2009 and forms would be available for Rs. 200. Allotment would be made on basis of Lottery draw.
Shubh Griha project
Announcing the launch of the project, Shubh Griha, of about 1,200 units, Brotin Banerjee, Managing Director and Chief Executive Officer, Tata Housing, said, "We observed that since most of the people in the low-income bracket live away from their families to earn a livelihood in the big cities, there is a large percentage of migrant population living in either rented or company provided accommodation.
"Our study shows that around 48 per cent in the lower segment are currently staying in rented accommodation. As a real estate company, we are sensitive to the need of providing this segment with their own home along with a community life. We believe in empowering them and giving them the pride of owning a house."
Community concept
He said though it was priced at an entry level, the 'neighbourhood and community' concept would change the conventional residential choice available for this segment of consumers today.
With a balanced mix of buildings and open spaces, the projects would be constructed under the guidance of Indian Green Building Council.
The low-cost housing units at Boisar would be built on about eight acres of a total of 63 acres, which will also have homes in the affordable segment, besides shopping, hospital, schools and other amenities, in subsequent phases.
Banerjee said revenues from the sale of low cost units alone would be over Rs 80 crore, while declining to furnish the total project cost. The units would be delivered in two years.
Booking Process
Applicants can purchase application form costing Rs 200 from select SBI branches across Mumbai. The bookings should be made with an initial booking amount of Rs 10,000 at the bank branches.
The first list and the waiting list will be declared after scrutiny of applications. The allottees would be intimated by Tata Housing along with payment schedule
About Boisar
Boisar is a town in Thane district in the state of Maharashtra. It is located 45 kms (28 miles) north of Virar on the Western Railway line of Mumbai Suburban Railway. By Road, it can be reached from National Highway NH-8, {{convert22kmmi} off from Chilhar Phata. There are regular state transport buses from Palghar, Thane, Bhiwandi and Wada.
Subha Griha Project in Delhi & Bangalore
Tata Housing has intends to launch the affordable flats scheme in NCR and Bangalore in this year itself. It will launch this Scheme in other major cities including Chennai and Kolkata in the coming years.
Wednesday, March 18, 2009
DLF New Residential Project, Shivaji Marg, New Delhi
To support you in your realty investment decision-making, I am presenting an excellent investment and residential proposition in the heart of Delhi.
I am extremely positive about this investment prospects and excellent livable asset category as there is a huge shortage of high rise condominiums in an integrated township in Delhi.
Delhi residential status is dominated by independent floors which have inherent problems like Parking, power, water and security. The same has created a huge gap for residential gated condominiums complexes and DLF Shivaji Marg shall aptly fill the requirement gap for the same.
The basic factors that make the asset proposition attractive are as follows:
Developer : DLF is an A category developer and has been the front runner since last 6 decades
Prime Location : DLF Shivaji Marg offers excellent connectivity with CBD - C.P.( 5 K.M), Punjabi Bagh (2 K.M), Karol Bagh (3 K.M) and close to the major transportation routes The land is strategically located on the Shivaji Marg-Zakhira Bridge intersection and is just 5 km away from Connaught Place, the capital's central business district (CBD). At present, office space in the CBD costs more than even Rs 50,000 per sq ft in certain cases. Some residential areas in a close proximity to DLF's site include Rajouri Garden and Punjabi Bagh.
Site profile : 200 acres of integrated township comprising of 130 Acres of Compulsory Greens , DLF's proposed integrated township project will be spread over 10 million sq ft of saleable area, comprising 3 mn sq ft of offices, 2 mn sq ft of shopping mall and 5 mn sq ft of residential units. Three Metro Stations in the vicinity of 75 Km to 1 km.
Payment Plan : Expected Price Rs 6000-7000 Psf .Customer friendly Construction Linked payment plan spread over as per the construction progress.
Configuration : Launching only 500 apartments in Phase I Majority of 3 Bed Room Apartments ranging from 1425 Sq Ft to 1525 Sq Ft .26-27 Storey Building.
Booking Amount : Would vary between Rs 5 lacs to Rs 10 lacs
Project Features
Club facility with multipurpose room
Swimming pool
Abundant green areas
Sports facility
1.5 Km from the existing Metro Station
Secured gated community
100% Power backup
Tentative Price List
Type Size (Sq.ft.) Price Per Sq.ft. (Rs.) Amount (Rs.) Booking
3BR-2T 1420 6000 to 7000 7700000 10 Lacs
3BR-2T 1435 6000 to 7000 9800000 10 Lacs
3BR-3T 1450 6000 to 7000 11900000 10 Lacs
3BR-3T 1490 6000 to 7000 11900000 10 Lacs
3BR-3T 1525 6000 to 7000 11900000 10 Lacs
Distress Sales On Anvil,Developers Have Finally Start Lowering Their Prices But Customer Want's More
Real estate developers may have finally blinked and started lowering their prices, but customers aren't buying yet neither their protestations of maximum discounts nor their product offerings.
The findings from two different surveys reveal as much. While DTZ International Property Advisor's Demand Analysis and Real Estate Trends (DART) Survey 2009 focusses on the trends in the commercial office space rental market, property portal Makaan.com's Me, My Home and Property Rates consumer survey looks at the residential segment.
DTZ's research, in fact, reveals why customers are still holding on to their horses. "If you compare today's rentals with the peak values of end-2007 prices are down by 20-25 per cent, with another 10-15 per cent correction expetced this year," points out Anshul Jain, CEO (India), DTZ.
Its DART survey, which covered 48 companies across Delhi, Mumbai and Bengaluru, reveals that 70 per cent of the respondents do not expect the market to bottom out before the next six months-- clearly indicating that they will be driving some hard bargains with the developers for lease rentals. In fact, renegotiation of rentals, by at least 10-15 per cent, tops the agenda of these companies.
Residential property: Roping in the fence sitters How much discount will attract how many buyers?
*21% home seekers expect discount greater than 30%
*23% home seekers want discount between 20-30%
*21% home seekers expect discount between 10-20%
*14% home seekers seek discount up to 10%
*21% home seekers willing to buy even at current price levels
Interestingly, a significant percentage of the occupiers 19 per cent are also using the current downturn in the realty segment to relocate to more upmarket areas that are now more affordable.
Source: Business Today Distress sales on the anvil
The findings from two different surveys reveal as much. While DTZ International Property Advisor's Demand Analysis and Real Estate Trends (DART) Survey 2009 focusses on the trends in the commercial office space rental market, property portal Makaan.com's Me, My Home and Property Rates consumer survey looks at the residential segment.
DTZ's research, in fact, reveals why customers are still holding on to their horses. "If you compare today's rentals with the peak values of end-2007 prices are down by 20-25 per cent, with another 10-15 per cent correction expetced this year," points out Anshul Jain, CEO (India), DTZ.
Its DART survey, which covered 48 companies across Delhi, Mumbai and Bengaluru, reveals that 70 per cent of the respondents do not expect the market to bottom out before the next six months-- clearly indicating that they will be driving some hard bargains with the developers for lease rentals. In fact, renegotiation of rentals, by at least 10-15 per cent, tops the agenda of these companies.
Residential property: Roping in the fence sitters How much discount will attract how many buyers?
*21% home seekers expect discount greater than 30%
*23% home seekers want discount between 20-30%
*21% home seekers expect discount between 10-20%
*14% home seekers seek discount up to 10%
*21% home seekers willing to buy even at current price levels
Interestingly, a significant percentage of the occupiers 19 per cent are also using the current downturn in the realty segment to relocate to more upmarket areas that are now more affordable.
Source: Business Today Distress sales on the anvil
Wednesday, March 4, 2009
NEW PENSION SCHEME (NPS)
From 1st April 2009 onwards, any individual will be able to start a New Pension System (NPS) account and start saving up for a pension. Of course, the system is not just for private individuals, the pension of all central government employees who have joined service after 01/01 2004 are also part of NPS.
The design of the new system is simple. The National Security Depository Limited (NSDL) will be record keeper and six entities selected by PFRDA will be the fund managers. The fund managers will manage different plans that comprise of equity, government securities and corporate bonds. These plans will obviously have different combinations of risk and returns.
The distinguishing feature of the NPS is the amazingly low cost. The annual cost of record-keping is Rs 380, each transaction will cost Rs 6 and the most amazing of all-the investment management fee is 0.009 % p.a. Why is low cost so important? Because the magic of compounding over the long time horizonwill make its beneficial impact magnified massively.
There are some drawbacks to the NPS too. The biggest is that it really is a pension scheme, not an investment. You can't withdraw the money till you are sixty years old, except for critical illnesses and for building or buying one house. Even at sixty, you can only withdraw as cash 60 per cent of the corpus, the rest must be used to buy an annuity. That's not a bad thing by itself.
Aanother big disadvantage of the NPS is that its gains will be taxable. However, this is obviously a blunder on the government's part and one expects it to be corrected if the NPS is to take off at all. Either NPS gains will be made tax-free or competing systems like the EPFO will also be made taxable.
The design of the new system is simple. The National Security Depository Limited (NSDL) will be record keeper and six entities selected by PFRDA will be the fund managers. The fund managers will manage different plans that comprise of equity, government securities and corporate bonds. These plans will obviously have different combinations of risk and returns.
The distinguishing feature of the NPS is the amazingly low cost. The annual cost of record-keping is Rs 380, each transaction will cost Rs 6 and the most amazing of all-the investment management fee is 0.009 % p.a. Why is low cost so important? Because the magic of compounding over the long time horizonwill make its beneficial impact magnified massively.
There are some drawbacks to the NPS too. The biggest is that it really is a pension scheme, not an investment. You can't withdraw the money till you are sixty years old, except for critical illnesses and for building or buying one house. Even at sixty, you can only withdraw as cash 60 per cent of the corpus, the rest must be used to buy an annuity. That's not a bad thing by itself.
Aanother big disadvantage of the NPS is that its gains will be taxable. However, this is obviously a blunder on the government's part and one expects it to be corrected if the NPS is to take off at all. Either NPS gains will be made tax-free or competing systems like the EPFO will also be made taxable.
Friday, February 27, 2009
Residential Plot Offered By Yamuna Expressway Industrial Development Authority
Be among the first to own a Residential Plot offered by Yamuna Expressway Industrial Development Authority In NCR Starting Rs 14 lacs
* Scheme open: 02.03.2009* Scheme Closes:04.05.2009
* Tentative Draw:10.08.2009
Thursday, February 26, 2009
Tata to Launch -World's Cheapest Car "Nano" On March 23
Tata Motors Ltd. has set March 23 as the launch date for its 100,000 rupees minicar, about three months behind initial schedule.
Bookings for the Nano -- the world's cheapest passenger car -- will begin in the second week of April, . Booking process and other details will be announced at the time of launch
Nano is likely to be offered to “select customers”, including celebrities, sportspersons and leading politicians as part of Tata Motors plan to re-create the hype and excitement which was there when the Rs. 1-lakh car was first unveiled before the world in the Auto Expo 2008. Tata Motors is still trying to recover from the setback it suffered due to the Singur land row that led to the scrapping of its production facility in West Bengal, which was then shifted to Gujarat. It now wants to make the launch event memorable and historic. Through the grand launch, it also wants to erase the bad publicity that the company and the nation got in the world media due to the land dispute that delayed the Nano launch.
The booking amount for Nano is likely to be around Rs. 70,000. The company has announced the prices of Nano between Rs. 1 lakh and Rs. 1.34 lakh. Initially, the company would take bookings of just one lakh cars as mass production of the vehicle would be possible only by 2010, and till then only 3,000 cars a month are likely to be manufactured.
Bookings for the Nano -- the world's cheapest passenger car -- will begin in the second week of April, . Booking process and other details will be announced at the time of launch
Nano is likely to be offered to “select customers”, including celebrities, sportspersons and leading politicians as part of Tata Motors plan to re-create the hype and excitement which was there when the Rs. 1-lakh car was first unveiled before the world in the Auto Expo 2008. Tata Motors is still trying to recover from the setback it suffered due to the Singur land row that led to the scrapping of its production facility in West Bengal, which was then shifted to Gujarat. It now wants to make the launch event memorable and historic. Through the grand launch, it also wants to erase the bad publicity that the company and the nation got in the world media due to the land dispute that delayed the Nano launch.
The booking amount for Nano is likely to be around Rs. 70,000. The company has announced the prices of Nano between Rs. 1 lakh and Rs. 1.34 lakh. Initially, the company would take bookings of just one lakh cars as mass production of the vehicle would be possible only by 2010, and till then only 3,000 cars a month are likely to be manufactured.
Saturday, February 21, 2009
GOLD MAKES FACES OF ALL INDIANS GLITTER
Here is a good news for India and almost every Indians that in this despair finacial situation of world, the price of gold and silver is shooting up and that benefiting almost every Indian Households . The love of Indian for the bulllion in causing trillion dollar smile on the face of everyone in this gloom and doom senario.
If the flight of money towards gold continue for some more time, nobody should be surprised to see the newer highs for the prices of gold. However with the meltdown in the prices of other commodities , financial assets and real estate, the rise in the prices of gold holds even more merits in the theory of diversification. Holdind asstes across different assets class makes investors sailing through in these bad times and prosper in good times.
Indians by default of their nature do this diversification and who knows God might be Blessings India in emergence of next financial power.....ameen!!!!!
If the flight of money towards gold continue for some more time, nobody should be surprised to see the newer highs for the prices of gold. However with the meltdown in the prices of other commodities , financial assets and real estate, the rise in the prices of gold holds even more merits in the theory of diversification. Holdind asstes across different assets class makes investors sailing through in these bad times and prosper in good times.
Indians by default of their nature do this diversification and who knows God might be Blessings India in emergence of next financial power.....ameen!!!!!
Friday, February 20, 2009
PLOT SCHEME GREATER NOIDA SECTOR-2
Greater Noida Industrial Development Authority announce Plots scheme PLOT SCHEME GREATER NOIDA SECTOR-2 , FEBURARY 2009
Details of PLOTS Given: below:
*SECTOR NAME: 02, PLOT SIZE: 162 Meter, TOTAL PLOTS : 1200, REGISTRATION MONEY : 1,70,100/-
*SECTOR NAME: 02, PLOT SIZE: 220 Meter, TOTAL PLOTS : 800, REGISTRATION MONEY : 2,31,000/-
Application forms can be avilabel from the Bannks given below @ Rs. 1100/- each Cash
ALLAHABD BANK, Sector-10 Noida & MDA Branch Meerut. AXIS BANK, Sector-16, NoidaABN AMRO BANK, Sector-18 NoidaBANK OF BARODA, Sector-Gamma-II, Greater Noida & Sector-18 NoidaBANK OF MAHARASHTRA, Sec. Alpha-I, Greater NoidaCANARA BANK, Gamma shopping mall, Greater Noida HDFC BANK, Darbar lal sharma marg, new vidhan sabha Lucknow.INDIAN BANK, G-41, Connaught Place, New Delhi.ORIENTAL BANK of COMMERCE, Sector-20, Noida & Rajnagar Ghaziabad.ORIENTAL BANK of COMMERCE, The Mall Kanpur,STATE BANK of INDIA, K.P.-I Near Kailash Hospital Greater Noida,STATE BANK of BIKANER & JAIPUR, Sec.18, Noida, UNION BANK of INDIA, C-56, A/28 Sector-62 Noida, VIJAY BANK, Sector-19 Noida, BANK of INDIA, Beta-II, Greater Noida, CORPRATION BANK, S-6, Gamma-I, Jagat Farm, Greater Noida. ANDHRA BANK, Sec-19, Noida.
Scheme: Starts from: 17-02-2009,Scheme Close : 16-03-2009Draw Date : June 2009
Details of PLOTS Given: below:
*SECTOR NAME: 02, PLOT SIZE: 162 Meter, TOTAL PLOTS : 1200, REGISTRATION MONEY : 1,70,100/-
*SECTOR NAME: 02, PLOT SIZE: 220 Meter, TOTAL PLOTS : 800, REGISTRATION MONEY : 2,31,000/-
Application forms can be avilabel from the Bannks given below @ Rs. 1100/- each Cash
ALLAHABD BANK, Sector-10 Noida & MDA Branch Meerut. AXIS BANK, Sector-16, NoidaABN AMRO BANK, Sector-18 NoidaBANK OF BARODA, Sector-Gamma-II, Greater Noida & Sector-18 NoidaBANK OF MAHARASHTRA, Sec. Alpha-I, Greater NoidaCANARA BANK, Gamma shopping mall, Greater Noida HDFC BANK, Darbar lal sharma marg, new vidhan sabha Lucknow.INDIAN BANK, G-41, Connaught Place, New Delhi.ORIENTAL BANK of COMMERCE, Sector-20, Noida & Rajnagar Ghaziabad.ORIENTAL BANK of COMMERCE, The Mall Kanpur,STATE BANK of INDIA, K.P.-I Near Kailash Hospital Greater Noida,STATE BANK of BIKANER & JAIPUR, Sec.18, Noida, UNION BANK of INDIA, C-56, A/28 Sector-62 Noida, VIJAY BANK, Sector-19 Noida, BANK of INDIA, Beta-II, Greater Noida, CORPRATION BANK, S-6, Gamma-I, Jagat Farm, Greater Noida. ANDHRA BANK, Sec-19, Noida.
Scheme: Starts from: 17-02-2009,Scheme Close : 16-03-2009Draw Date : June 2009
Tata Capital NCD issue oversubscribed
Hurry guys.....Tata Capital’s public issue of non-convertible debentures (NCDs) has received an oversubscription of about Rs 800 crore till Friday on the back of participation from high networth individuals (HNIs) and institutions. The issue that opened on February 2 closes on Tuesday.
According to a source familiar with the development, the company has received a subscription of Rs 2,300 crore till Friday.
“Nobody, including the bankers to the issue, expected such a good response,” said the source.
The company has so far received about 75,000 applications from retail investors against the limit of 100,000 applications. The participation of retail investors is expected to inch closer to the limit on the last two days of the issue.
The company is offering 12 per cent per annum for the annual and cumulative interest payment options.
According to a source familiar with the development, the company has received a subscription of Rs 2,300 crore till Friday.
“Nobody, including the bankers to the issue, expected such a good response,” said the source.
The company has so far received about 75,000 applications from retail investors against the limit of 100,000 applications. The participation of retail investors is expected to inch closer to the limit on the last two days of the issue.
The company is offering 12 per cent per annum for the annual and cumulative interest payment options.
Saturday, February 14, 2009
LIC launches Jeevan Varsha, a Money Back Plan
LIC has always been sensitive to the changing aspirations of its customers and thus brings out different products from time to time to cater to those needs . Close on the heels of Jeevan Aastha, which was a runaway success, its latest offering is Jeevan Varsha, a Close-ended Guaranteed Additions plan. The Plan provides guaranteed benefits on death as well as maturity and has a few unique features. The Plan would be open for sale from 16th February 2009 to 31st March 2009 .
It is a Money Back Plan with only 2 Policy terms i.e., 9 years and 12 years , with Premium paying term restricted to only 9 years for both . This has been done keeping in view the preference of the people for short duration policies. Further it offers attractive Guaranteed Additions of Rs. 65/- per thousand S.A. per year for 9-year term and Rs. 70/- per thousand S.A. for a policy of 12-year term.
For the first time in any Money Back Policy, the Survival Benefits are payable every 3 years. This means that for a 9-year term policy, the payouts would be at the end of 3rd,6th and 9th years and for a 12-year term policy, the payouts would be at end of 3rd,6th,9th and 12th years. This provision makes Jeevan Varsha a plan with periodical payments (Survival benefit) and helps the buyer in meeting various expenses during the course of the policy , while enjoying full insurance coverage for the entire policy term .
Any person who has completed 15 years of age can buy this policy so that first Survival Benefits becomes payable to him only after he attains majority. The maximum age at maturity has been pegged at 75 years which means that the maximum age of entry for 9-year term would be 66 years and for the 12-year term it would be 63 years.
This is a regular premium plan where all modes of payment Yearly,Hly,Qly and monthly (ECS mode only) are allowed.
The minimum Sum Assured for ECS monthly mode is Rs. 75000/- and Rs. 50,000/- for other modes, there being no limit on the maximum Sum Assured.
The Loyalty Additions are also payable depending on the experience of the Corporation with regard to interest rate assumed, expenses and mortality.
The plan has provisions for Loan, Surrender and Revival. Usual conditions regarding Grace Period and Cooling-off are also applicable to this plan. Tax Benefits as per the existing Income Tax Rules are also admissible.
It is a Money Back Plan with only 2 Policy terms i.e., 9 years and 12 years , with Premium paying term restricted to only 9 years for both . This has been done keeping in view the preference of the people for short duration policies. Further it offers attractive Guaranteed Additions of Rs. 65/- per thousand S.A. per year for 9-year term and Rs. 70/- per thousand S.A. for a policy of 12-year term.
For the first time in any Money Back Policy, the Survival Benefits are payable every 3 years. This means that for a 9-year term policy, the payouts would be at the end of 3rd,6th and 9th years and for a 12-year term policy, the payouts would be at end of 3rd,6th,9th and 12th years. This provision makes Jeevan Varsha a plan with periodical payments (Survival benefit) and helps the buyer in meeting various expenses during the course of the policy , while enjoying full insurance coverage for the entire policy term .
Any person who has completed 15 years of age can buy this policy so that first Survival Benefits becomes payable to him only after he attains majority. The maximum age at maturity has been pegged at 75 years which means that the maximum age of entry for 9-year term would be 66 years and for the 12-year term it would be 63 years.
This is a regular premium plan where all modes of payment Yearly,Hly,Qly and monthly (ECS mode only) are allowed.
The minimum Sum Assured for ECS monthly mode is Rs. 75000/- and Rs. 50,000/- for other modes, there being no limit on the maximum Sum Assured.
The Loyalty Additions are also payable depending on the experience of the Corporation with regard to interest rate assumed, expenses and mortality.
The plan has provisions for Loan, Surrender and Revival. Usual conditions regarding Grace Period and Cooling-off are also applicable to this plan. Tax Benefits as per the existing Income Tax Rules are also admissible.
The plan is ideally suited for a person who wishes to plan for his future needs arising at different intervals, ensuring complete safety of his capital and with assurance of only a reasonable rate of return.
Saturday, February 7, 2009
Save Tax Karo Relax
It is always said "Death and tax is sure".One cant avoid tax but can surely save it.
Here is the list of schemes fot different income slabs to save tax efficiently:
Upto income 300000: Bank FD of 5 yr + Term Insurance* + Elss^
3 lacs - upto5lacs: Bank FD + PPF +Term Insurance* + Elss^
Above 5lacs : PPF + Term Insurance* + Elss^
* Term Insurance is the requried for every individual to the extent of atleast 10 times his annual income. Do remember never invest in other schemes of Insurance. Insurance + investment combo policy of life insurance companies are extermely inefficient.
^Elss should be opted only if the person has risk taking ability ang longer horizon.
Here is the list of schemes fot different income slabs to save tax efficiently:
Upto income 300000: Bank FD of 5 yr + Term Insurance* + Elss^
3 lacs - upto5lacs: Bank FD + PPF +Term Insurance* + Elss^
Above 5lacs : PPF + Term Insurance* + Elss^
* Term Insurance is the requried for every individual to the extent of atleast 10 times his annual income. Do remember never invest in other schemes of Insurance. Insurance + investment combo policy of life insurance companies are extermely inefficient.
^Elss should be opted only if the person has risk taking ability ang longer horizon.
Friday, February 6, 2009
save tax
watch out this space to grab most efficient tax saving instruments for different income slabs.ie. upto income 3,00,000
3 lacs to 5 lacs
5 lacs and above
3 lacs to 5 lacs
5 lacs and above
TATA Capital NCD -Tata Capital NCD to offer 12 % p.a.interest
Tata Capital NCDTata Capital informed the market that they are raising Rs 500 crore through a non-convertible debenture issue,which has already opened on February 2nd 2009 and it will be open till February 24th 2009 .they will be allowed to retaining up to 1000 crore if it get over subscribed by more then 500 crore.
Open Date : February 2 2009
Close Date : February 24, 2009
Interest : 12 Percent Varies based on the Monthly or Quarterly Interest.
Redemption : In 5 years,put and call options offered to investors at the expiry of 36 months and 42 months.
Minimum Amount : 10,000The minimum application amount is Rs 10,000 for the quarterly, annual and cumulative interest payment options (coupon rate of 12 per cent an annum); and Rs 1 lakh for the monthly interest payment option (coupon rate of 11.25 per cent an annum).
Fund Usage :Tata group in turn will use the proceeds of the issue for its business growth and a repay existing costlier debt, this is good for the tata group and not sure for the tata capital how they will repay.Credit RatingHigh credit rating of “LAA+” by ICRA and “CARE AA+” by CAREFinal Highlights
• Interest at the rate of 12% per annum is offered for the annual and cumulative interest payment options.• Quarterly interest payment option to offer a coupon rate of 11.25% per annum with an annualized yield of 11.73%.o For the quarterly, annual and cumulative interest payment options the minimum application size is Rs 10,000 and additional investments in multiples of Rs 1,000.• Monthly interest payment option to offer a coupon rate of 11% per annum with an annualized yield of 11.57%. The minimum application size is Rs 100,000 and additional in multiples of Rs. 100,000• Interest on application money at the rate of 8% p.a. to be paid from the date of realization of the cheque or 5 days after the date of application, whichever is later, upto one day prior to the deemed date of allotment.
Open Date : February 2 2009
Close Date : February 24, 2009
Interest : 12 Percent Varies based on the Monthly or Quarterly Interest.
Redemption : In 5 years,put and call options offered to investors at the expiry of 36 months and 42 months.
Minimum Amount : 10,000The minimum application amount is Rs 10,000 for the quarterly, annual and cumulative interest payment options (coupon rate of 12 per cent an annum); and Rs 1 lakh for the monthly interest payment option (coupon rate of 11.25 per cent an annum).
Fund Usage :Tata group in turn will use the proceeds of the issue for its business growth and a repay existing costlier debt, this is good for the tata group and not sure for the tata capital how they will repay.Credit RatingHigh credit rating of “LAA+” by ICRA and “CARE AA+” by CAREFinal Highlights
• Interest at the rate of 12% per annum is offered for the annual and cumulative interest payment options.• Quarterly interest payment option to offer a coupon rate of 11.25% per annum with an annualized yield of 11.73%.o For the quarterly, annual and cumulative interest payment options the minimum application size is Rs 10,000 and additional investments in multiples of Rs 1,000.• Monthly interest payment option to offer a coupon rate of 11% per annum with an annualized yield of 11.57%. The minimum application size is Rs 100,000 and additional in multiples of Rs. 100,000• Interest on application money at the rate of 8% p.a. to be paid from the date of realization of the cheque or 5 days after the date of application, whichever is later, upto one day prior to the deemed date of allotment.
Subscribe to:
Posts (Atom)