State Bank of India (SBI) much-debated teaser home loan rates may see a hike in rates by May, when the next financial policy review would be announced by the Reserve Bank of India (RBI). But unless there is a hike in rates during the review, SBI will retain the teaser home loan rates, said a senior official with the bank. The RBI had in the past expressed its reservation on the teaser rates offered by SBI, on the grounds that such aggressive rates would push up housing prices. The teaser home loan rates, or special rates as the bank’s chairman Mr OP Bhatt prefers calling it, was a mixture of fixed and floating interest rates where the customers were charged 8.75 per cent in the first year, 9.50 per cent in the second and third years and the prevailing floating rates from the fourth year onwards. March 28th 2011, Indian Realty News
Thursday, March 31, 2011
Real Estate Prices in Mumbai Will Fall Soon
Real Estate prices in Mumbai are set to decline further in overheated markets as transactions have fallen due to high-prices. Developers, who were so far holding on to their prices, have started offering discounts to woo buyers to mobilize fund inflows through sales as money flow from other channels have dried up. Residential property prices in Mumbai, the most expensive market in India, have already seen a correction of 20 per cent from the peak level and it is expected to decline further in the range of 15 to 25 per cent.
March 28th 2011, Indian Realty News
March 28th 2011, Indian Realty News
Tuesday, March 29, 2011
India Pakistan semi final: India Inc pads up to let employees enjoy
NEW DELHI: Work will take a backseat at India Inc when the cricketing world's arch-rivals India and Pakistan face-off in the World Cup semi-final at Mohali on Wednesday.
While some companies are considering half- or full-day leave for employees on the day of the match, others have installed TV screens across office premises or made arrangements for special screening of the match to ensure employees get the pulse of the cricketing ties between the two nations that have fought three wars since independence.FMCG company Dabur India is weighing an "off" on Wednesday. "The only constraint is that it is yearend closing, so work pressure is quite high at the moment," said Dabur India executive director A Sudhakar.
The company had declared a holiday on the day of the T20 final between India and Pakistan in 2007.
Food and beverages major PepsiCo India may allow half-day leave for employees if it doesn't impact the organisation's functioning, said Samik Basu, vice-president (HR) and chief people officer for India Region.
Some firms are also looking into work-from-home facility for that day. "If employees want to work from home or leave early to be able to watch the match, we are open to that," said Ashish Kumar, chief HR officer at multiplex chain operator PVR Ltd, which is screening the match at some of its multiplexes. The firm is also considering an exclusive screening for its employees.
Employees of the Future Group's Big Bazaar, the country's largest hypermarket retail chain, will be free to watch the match on large screens installed in stores, said its president, Rajan Malhotra.
"The idea is to let employees enjoy the match while at work, because they tend to take leave during such crucial matches," said S Varadarajan, executive vice-president (HR) at BPO firm Quatrro.
The company has in-house contests surrounding the World Cup to give employees a sense of involvement in the sporting event. Salil Kapoor, COO of the country's largest DTH service company Dish TV, said, "We would have special screening of the match in high definition feed for our employees in office and have also tied up with some pubs and clubs with special discounts for our employees."
Source:- Economics Times
Monday, March 28, 2011
Drinking and Driving...........A Touching Poem......
Drinking and Driving is a very serious offence yet the seriouness of this crime is never experienced unless you are the unfortunate victim..LETS ALL JOIN TO FIGHT AGAINST THIS WORLDWIDE MENACE.
This is such a beautiful poem which really touched my heart. Whoever wrote it, I really appreciate his efforts to convey the message behind this poem.
A Touching Poem...... I went to a party Mom,I remembered what you said.
You told me not to drink, Mom,
So I drank soda instead. I really felt proud inside, Mom,
The way you said I would.
I didn't drink and drive, Mom,
Even though the others said I should. I know I did the right thing, Mom,
I know you are always right.
Now the party is finally ending, Mom,
As everyone is driving out of sight. As I got into my car, Mom,
I knew I'd get home in one piece.
Because of the way you raised me,
So responsible and sweet.. I started to drive away, Mom,
But as I pulled out into the road,
The other car didn't see me, Mom,
And hit me like a load. As I lay there on the pavement, Mom,
I hear the policeman say,
"The other guy is drunk," Mom,
And now I'm the one who will pay. I'm lying here dying, Mom....
I wish you'd get here soon.
How could this happen to me, Mom?
My life just burst like a balloon.. There is blood all around me, Mom,
And most of it is mine.
I hear the medic say, Mom,
I'll die in a short time. I just wanted to tell you, Mom,
I swear I didn't drink.
It was the others, Mom.
The others didn't think. He was probably at the same party as I.
The only difference is, he drank
And I will die. Why do people drink, Mom?
It can ruin your whole life.
I'm feeling sharp pains now.
Pains just like a knife. The guy who hit me is walking, Mom,
And I don't think it's fair.
I'm lying here dying
And all he can do is stare. Tell my brother not to cry, Mom.
Tell Daddy to be brave.
And when I go to heaven, Mom,
Put "GOOD BOY " on my grave. Someone should have told him, Mom,
Not to drink and drive.
If only they had told him, Mom,
I would still be alive. My breath is getting shorter, Mom.
I'm becoming very scared.
Please don't cry for me, Mom.
When I needed you, you were always there. I have one last question, Mom.
Before I say good bye.
I didn't drink and drive,
So why am I the one to die?
Someone took the effort to write this poem. So please, forward this
to as many people as you can. And see if we can get a chain going
around the world that will make people understand that don't mix drinking and driving. PLEASE DO THE FAVOUR !!!! DRIVE SAFELY. PUT ON SEAT BELT (EVEN THOUGH DISTANCE IS SMALL). FOLLOW TRAFFIC RULES.
Saturday, March 19, 2011
What if Gabbar joins Face Book !!!
| To all facebook fans that I know J
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Friday, March 18, 2011
Home, auto loans set to get costlier as RBI hikes key rates
If you were eyeing that dream house or a swanky set of wheels, prepare to shell out a little more. Home loans, auto loans and loans to businesses are set to get expensive with the Reserve Bank of India increasing its key policy rates by 25 basis points on Thursday. However, most banks are unlikely to increase rates before April-end and they may also not hike fixed deposit rates given the improvement in their funds position. This increase, the eighth in the last 12 months, takes the repo (rate at which it lends to banks against securities) to 6.75% and reverse repo (the rate at which banks place surplus funds with RBI) to 5%. Since banks borrow from RBI on a daily basis, any increase in the repo rate will increase the cost of funds for banks, forcing them to lend at higher rates. Soon after the policy decisions were announced, State Bank of India (SBI), the country's largest lender, said the higher rates "will have to be passed on to customers," signaling a higher rate regime. So, if the quarter percentage point hike is passed on to home loan borrowers it would result in monthly installments going up by Rs 153 for a 15-year Rs 10 lakh home loan. If it is any solace for the borrowers, most lenders say that they are likely to wait until April and review credit demand in the new fiscal before raising rates. The present rate hike is unlikely to benefit savers as banks say that deposit rates have already touched a peak and given the decent inflows into fixed deposit schemes and improvement in liquidity banks are unlikely to raise deposit rates. On a policy level, this may also not be the end of the road as far as RBI's rate hikes are concerned with the central bank not making any mention of when inflation-the main target of its rate hikes-is expected to moderate. In its third quarter review, RBI had projected WPI inflation for March 2011 at 7%. RBI also raised March-end inflation forecast to 8% from 7% earlier, leaving GDP growth forecast unchanged at 8.5%. But even if banks do not raise interest rates in the next two weeks there is a strong likelihood that they may be nudged into doing so by RBI in its monetary policy for the first quarter of FY 2011-12. According to analysts , inflation concerns far overshadow fears that growth will be hit. "We have no plans to increase our rates now. I believe that most lenders will wait until April before taking a decision on their lending rates," said Keki Mistry, vice chairman and CEO, HDFC. "Historically, interest rates peak in March because this is the month when 40% of tax payments for the year go out of the banking system. It is also the time when credit demand picks up." He added that while demand for funds eased in April, interest rate movement would be determined by whether crude oil prices ease. "Not only is the rate hiking cycle in 2011-12 now likely to be more extended than initially anticipated but is also likely to be far more front-loaded. We expect inflation to print in at 8.1% in March 2011 and move higher close to 9% by August 2011. We see the RBI hiking its repo and reverse repo by another 25 bps in its annual review in May and this is likely to be followed by 50-75 bps of rate increases through the fiscal year," said Abheek Barua, chief economist, HDFC BANK .
Source:- Economics Times
THE SEVEN DANGEROUS ACTS : after meals
| 7 ACTIONS BELOW |
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The reviews expressed in this email message are the personal opinions of the author and do not necessarily represent those of the company. The information contained in this electronic message and any attachments to this message are intended for the exclusive use of the addressee(s) and may contain proprietary, confidential or privileged information. If you are not the intended recipient, you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately and destroy all copies of this message and any attachments. WARNING: Computer viruses can be transmitted via email. The recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email. .......................................................................................................................................................................................................................
Thursday, March 17, 2011
दिल्ली-NCR में मिलेंगे सस्ते मकान!
बजट में 25 लाख तक के मकान के लिए 15 लाख रुपए तक
लोन लेने में रियायत की घोषणा को रियल एस्टेट सेक्टर ने हाथोंहाथ लिया है। दिल्ली-एनसीआर में सक्रिय ज्यादातर रियलटर्स और विशेषज्ञों का मानना है कि इस इलाके में सबसे ज्यादा मांग अफोर्डेबल सेगमेंट में है और बजट के प्रावधानों से रियल एस्टेट डेवलपर्स अफोर्डेबल परियाजनाएं लाने को उत्साहित होंगे। सस्ते मकानों की सबसे ज्यादा मांग एनएच 58 और एनएच 24 पर आने की संभावना जताई जा रही है।
रियल एस्टेट सेक्टर पर बजट के असर के बारे में रियल एस्टेट कंसल्टिंग फर्म कुशमेन एंड वेकफील्ड, इंडिया के कार्यकारी निदेशक कौस्तव राय ने कहा, 'जहां तक आवास क्षेत्र का सवाल है तो बजट का पूरा फोकस अफोर्डेब सेगमेंट पर रहा है। केंद्रीय बजट ने रिहायशी क्षेत्र और इसमें भी खास तौर पर प्राथमिकता वाले अफोर्डेबल सेक्टर को ब्याज में खासी छूट दी है।'
राय ने कहा कि बड़े शहरों के पास बने उपनगरों में अब भी 25 लाख रुपए तक की रेंज में मकान उपलब्ध हैं। ऐसी जगहों पर आवासीय परियोजनाओं और मकानों की मांग में तेजी आएगी। बजट में अधिसूचित योजना के तहत अफोर्डेबल हाउसिंग विकसित करने वाले डेवलपर्स को इनवेस्टमेंट लिंक्ड डिडक्शन देने के प्रस्ताव से डेवलपर्स इस तरह के मकान बनाने के प्रोत्साहित होंगे।
यूनिटेक के प्रबंध निदेश संजय चंदा ने कहा, 'बजट से आने वाले दिनों में घरों की मांग बढ़ेगी और इस बढ़ी हुई मांग को पूरा करने के लिए हम तैयार हैं।'
गाजियाबाद में राजनगर एक्सटेंशन में बड़े पैमाने पर अफोर्डेबल मकान बना रहे बिल्डरों की एसोसिएशन के प्रवक्ता मनु गर्ग ने कहा, 'हालांकि बजट में सीधे तौर पर रियल एस्टेट को कोई खास सौगात नहीं मिली है लेकिन 20 लाख की जगह 25 लाख रुपए तक के मकान पर लिए जाने वाले लोन को प्राथमिकता वाले क्षेत्र में शामिल करने से एलआईजी श्रेणी के मकानों की मांग में तेजी आएगी। इससे एनएच 58 और एनएच 24 के आसपास के कई इलाकों को फायदा मिल सकता है।'
पार्श्वनाथ डेवलपर्स के चेयरमैन प्रदीप जैन ने कहा कि 2011-12 के बजट में बुनियादी ढांचा क्षेत्र और रियल एस्टेट सेक्टर पर खास ध्यान दिया गया है, इसके लिए हम वित्त मंत्री के आभारी हैं। यह साफ दिखाई दे रहा है कि आने वाले समय में डेवलपर्स को भी अफोर्डेबल हाउसिंग परियोजनाओं पर फोकस करना पड़ेगा। इसके अलावा बैंकों को अपने कुल कर्ज का 20 फीसदी प्राथमिकता वाले क्षेत्र को देने के लिए कहा गया है, इससे भी मांग में तेजी आएगी।
रियल एस्टेट कंपनी सुपरटेक सीएमडी आर के अरोड़ा की राय बाकी लोगों से कुछ अलग है। अरोड़ा ने कहा कि बजट में बिल्डरों के लिए कुछ भी नहीं है। लगातार दो साल की मंदी झेलने के बाद बिल्डरों को बजट में राहत की उम्मीद थी, लेकिन प्रणव दा ने ऐसा कुछ नहीं किया। इस बजट से बिल्डरों को इससे बहुत निराशा हुई है।
Source:- Economics Times
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2 more banks to offer IMPS by March-end
The Inter Bank Mobile Payment Service (IMPS), which is offered by 13 banks in the country, is expected to be extended by a dozen more banks by the end of the fiscal, according to the Mobile Payment Forum of India. "The switching service of mobile payment transactions across banks is currently provided by the National Payment Corporation of India (NPCI) and Settlement of funds is by the Clearing Corporation of India Limited (CCIL). IMPS is offered by 13 Banks and 12 more are expected to offer the same by the end of March 2011," the Forum said. MPFI is a joint initiative by RTBI (Rural Technology and Business Incubator) of IIT-Madras and IDRBT (Institute for Development and Research in Banking Technology). Customers find IMPS very convenient, and useful not only to know account balance status through the mobile phone sitting at home but to do funds transfer from anywhere and anytime with confirmation of payment transaction in real time, MPFI said in a statement. Presently, the service is offered free of cost by some banks to encourage customers to learn and experience the convenience of new technology based Mobile Banking solution . MPFI hopes that in future also the cost of mobile payment transaction would remain to be very low and affordable because the volume of transactions would scale up very high along with increase in the number of users of this modern technology based ubiquitous service.
Source:- Economics Times
Wednesday, March 16, 2011
Want to beat inflation? Liquid funds can give you the edge
I get about 7% on my savings money. Yes, please read again – I get about 7% on my savings money. And we all know that our basic savings bank account provides only 3.5%. So, how have I doubled my return on basic savings? I have been a strong advocate of getting your money to beat inflation. When all things around you become dearer (costlier) and your money doesn't keep pace with this increase in cost, you are not only doing disservice to your future but also punishing yourself for all the effort you have put in the past to generate this income.
The closer you are to overcoming the effects of inflation, the better you are at making your money sweat it out for you. We have all been wisely advised to keep at least a few months of our salary in our savings account. This is essential to fight any unexpected requirements that may come up in our daily lives. However, what if you had an equally convenient option to park your savings money in another well-regulated, transparent, easy to understand, low-risk product? A mutual fund! Dear reader, I am referring to the simpleton – Mr Liquid Fund! He has another name too, Mr Cash Fund.
A liquid or a cash fund is built on three tenets – high liquidity, low risk, stable returns. Think about it, isn't this but, what you get in your savings account too? Of course, I have to emphasise here that you are guaranteed 3.5% by your bank, whereas, any mutual fund in our country cannot guarantee returns on their products. But the question I ask myself and my family members is – how important are guaranteed returns when you know that the risk you take is very low? I bring you to another fundamental rule in investing your money – if the incremental risk one takes isn't as much and the reward one can expect from that investment decision is way more than what one gets at present, one should take the plunge.
Any investment carries risk, but the bigger question you need to ask is "How much risk?" Post May 1, 2009, Sebi regulations have ensured that liquid funds do not invest in underlying instruments that have more than 91 days to mature. This provides a strong foundation for minimal interest rate risk. For the next three-to-six months, our economy is expected to witness great hunger for overnight and short-term money (this is what the investment world calls — tight liquidity).
In conditions of tight liquidity, there is more demand for cash but less supply. Therefore, the most commonly used resort by our banks to manage this shortage is to go and borrow money from the Reserve Bank of India (RBI). When the banks do such overnight borrowing, the investment world calls it repo. Whenever you get to read that the repo volumes are high, it means that there is shortage of overnight money in the financial markets.
This presents us with an opportunity to make our savings money sweat it out a little more – and that can be achieved by investing it into liquid funds. The mutual fund industry has over 50 different liquid funds for you to choose. Buying them today is a breeze with many online platforms. These funds have no entry or exit loads and you are free to take out your money any day after your investment. For those of you who are a bit more savvy, ultra short-term debt funds could be your logical next step. If you want to promote a noble cause, donate the extra income you generate from liquid funds as compared to your savings account to a good charity. Are you ready?
Tuesday, March 15, 2011
Last moment of life - don't miss the last one
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The reviews expressed in this email message are the personal opinions of the author and do not necessarily represent those of the company.
Monday, March 14, 2011
World Cup fever helps online retail firm raise $14 mn in PE
Rising demand for cricketing merchandise has helped online retail company Myntra.com raise private equity capital of $14 million to expand its range of sporting apparel. Global PE firm Tiger Global is the lead investor alongside existing investors IDG Ventures and Indo-US Venture Partners in this second round of funding for the firm founded by a team of three IIT-ians. Set up as an online portal for personalised gifts, Myntra now sells a range of jerseys and other merchandise such as T-shirts and mugs in Indian Cricket Colours from a range of international brands such as Nike, Reebok, Adidas and Puma. "With the cricket world cup going on, we are selling 500 jerseys per day," said Mukesh Bansal, CEO, Myntra.com who worked with a host of start-ups in Silicon Valley in the US before relocating back to India in 2007. He set up Myntra along with former IIT-Kanpur batch mates Ashutosh Lawania and Vineet Saxena . "Earlier we were into selling personalised goods which is a more seasonal business but now the focus is on retailing sporting lifestyle goods," says Bansal who has seen business grow nearly ten-fold since the company began hawking popular merchandise from the Indian cricketing league IPL. Social media marketing has proved to be a huge draw for the online retailer that now has over 470,950 fans on social networking website Facebook . "We think that social media platform is going to be the next big opportunity which is going to drive e-commerce. We see it is growing rapidly from past several months," said Mukul Singhal, senior associate at SAIF Partners , a global PE firm that recently closed a $3.5-million investment in another e-commerce retailer InkFruit. For Myntra.com the steep upsurge in consumer traffic since it added on sporting merchandise has been a crucial factor in attracting investor attention. In 2008, a year after its launch, Myntra raised $5 million from a consortium of investors, including IDG, NEA-IUV and Accel Partners . This helped the firm broaden its retail footprint by building a presence in retail malls and exclusive stores for sporting brands within large corporate campuses that works as a multiplier for the online retail business. Such a hybrid model that combines the online and offline sales is finding favour with investors as well. SAIF Partners' Singhal said one of the key attributes that drove the fund's investment in apparel - retailer Inkfruit was that the firm does some 25,000 transactions per month by using a combined model. "There is an increasing propensity for consumers to shop for everything online. As a result various categories such as apparels, electronics, books are opening up as big opportunities," says Kunal Bahl , chief executive at Jasper Infotech, the owner of on-line retail firm Snapdeal.com .
Source:- Economics Times
Monday, March 7, 2011
Let's spread the concept of ICE ( In Case Of Emergency)
We all carry our mobile phones with names & numbers stored in its memory but nobody, other than ourselves, knows which of these numbers belong to our closest family or friends.
If we were to be involved in an accident or were taken ill, the people attending us would have our mobile phone but wouldn't know who to call. Yes, there are hundreds of numbers stored but which one is the contact person in case of an emergency? Hence this 'ICE' (In Case of Emergency) Campaign
The concept of 'ICE' is catching on quickly. It is a method of contact during emergency situations. As cell phones are carried by the majority of the population, all you need to do is store the number of a contact person or persons who should be contacted during emergency under the name 'ICE' ( In Case Of Emergency)..
The idea was thought up by a paramedic who found that when he went to the scenes of accidents, there were always mobile phones with patients, but they didn't know which number to call. He therefore thought that it would be a good idea if there was a nationally recognized name for this purpose. In an emergency situation, Emergency Service personnel and hospital Staff would be able to quickly contact the right person by simply dialing the number you have stored as 'ICE..'
For more than one contact name simply enter ICE1, ICE2 and ICE3 etc. A great idea that will make a difference!
Let's spread the concept of ICE by storing an ICE number in our Mobile Phones today!!!
ICE will speak for you when you are not able to....
Friday, March 4, 2011
1% rate subsidy welcome, but where are cheap houses
Union Budget 2011: 1% rate subsidy welcome, but where are cheap houses
,ET Bureau,Feb 28, 2011, 01.01pm IST
The finance minister has provided a 1% interest subsidy on housing loans up to Rs 15 lakh and increased priority housing loan limit to Rs 25 lakh from the existing Rs 20 lakh. The move aims at promoting low-cost and affordable housing in the country.
Realty sector however feels that there are few offering in the affordable housing category. There are very few realty projects that offer houses costing Rs 15-20 lakh. The numbers are fewer in cities like Mumbai, Delhi, Bangalore, Chennai, Hyderabad, they feel.
"The rebate of 1% being offered for loans under Rs 15 lakh is a good move. However, there is a problem finding the product for which these incentives would be applicable," says Nirav Kothari, local director, Jones Lang LaSalle (JLL), a global property consultant.
"At present, there are few low-cost housing projects in the country. Most of the developers are into high-end and luxury products, so there will be a problem finding the right product," Kothari said while talking about the paucity of the low-cost houses in the market.
He however felt that the move to increase the prority housing loan limit to Rs 25 lakh was a positive one that will help to widen the base of home loan takers.
The government also increased the rural housing fund to Rs 3,000 crore from Rs 2,000 crore, a move realty experts feel will open up real estate development in far-flung areas. The experts however, are unsure how and where this fund will be spend.
Source:- Economoic Times
DLF to launch luxury residential project in Delhi
DLF to launch luxury residential project in Delhi
The company will launch on Tuesday a super luxury residential project 'King's Court', which is spread over 2.3 acres of land at Greater Kailash-II in South Delhi, with a project cost of about Rs 700 crore, sources said.
DLF, which had developed 3,000 acre
When contacted, DLF Group Executive Director Rajeev Talwar confirmed that the company is developing a premium project in GK-II but declined to share futher details.
"The apartments will be very premium in nature that never has happened in Delhi. The construction has already begun and possession will be given within three years," Talwar said.
Although DLF is yet to fix the basic selling price of the housing units, sources said these will be available for about Rs 15 crore to Rs 25 crore.
The company is likely to sell these flats and villas at Rs 35,000-40,000 per sq ft, sources said, adding that the project cost is estimated at Rs 700 crore, including the land cost.
Last year, DLF had launched another luxury residential property 'Capital Greens' where flats were sold for about Rs 4 crore per unit at Shivaji Marg, close to Moti Nagar (near Central Delhi). The flats were offered at Rs 11,000 per sq ft.
Rival Parsvnath has two residential projects in the National Capital -- one at Subhash Nagar (West Delhi) priced at Rs 7,500 per sq ft and the other at Civil Lines (North Delhi) tagged at Rs 10,000 a sq ft.
Another developer Emaar MGF offered apartments at Rs 12,700/sq ft in its Commonwealth Games project.
At present, DLF has 302 million sq ft of development potential, out of which 40 million sq ft is under construction.
Source:- Economic Times
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