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Kundli Kundli-Sonepat integrated township plan of Haryana Government for 2020 is a mixture of industrial, Commercial, Residential and Educational Hub. In this city approximately 3000 small and middle scale industries are already working. TDI plays Major role in residential park. TDI is an organization which let your dreams come true. TDI is the name of trust and faith .An ISO 9001 company, TDI is known to have represented the finest elements of urban living through its magnificent journey of over two decades. With a consistent track-record of timely execution and high-quality construction, the company has developed world-class townships and commercial complexes in various prime locations of the country. From the desk of Chairman Shri D.N.Taneja The excellent economic performance and introduction of SEZs are acting as major propellants for the real estate sector. With its experienced and professional team, TDI has steadily carved a niche in the real estate industry by changing the skyline of the developing cities in TDI thus aims at becoming an international standard player offering holistic real estate solutions. I, on behalf of the whole TDI team, welcome you to explore new vistas of opportunity in the realty sector. Social Responsibilities Ø TDI endeavors at working for the benefit of underprivileged sections of the society through its Corporate Social Responsibility (CSR) activities. Ø To help the victims of recent flood in Ø TDI has also demarcated around 6 acres of land in TDI City, Kundli for setting up a Trust named 'TDI Navgraha Trust' which will run a school to provide education, curricular and extracurricular activities, medical checkups and blood donation camps for economically weaker sections free of cost. Vision and Creating world class townships is our vision and Passion, TDI townships are fully integrated mini cities with complete infrastructure and amenities required for high standard of living .Conforming to international level of construction quality and architecture, our township offer a lifestyle full of panache , elegance and comfort. Operational: - Under construction:- TDI City Agra , TDI City Indore , TDI City Meerut ,TDI City Kundali , TDI Greens Sonepat , TDI City Panipat , Ourania Gurgaon , TDI City 1 Mohali , TDI City 2 Mohali , TDI Villas Mohali . Future project – TDI Commercial:-TDI present State-Of-the-art office cum retail complexes developed to fulfill all the requirements of modern and dynamic business. Strategically located in most prominent city areas Operational: - TDI Centre Jasola | Multistory Apartment, Kingsbury Kundli, Ourania Gurgaon. Under Construction: - TDI Business Centre Mohali | TDI Business Centre Kundli | TDI Arcade – Retail:- The Indian retail industry has finally come of age with consumers having access to the best of merchandise and shopping experience. TDI has facilitated this positive trend by giving shape to world-class malls cum shopping complexes that bring together the most exciting retail outlets under one roof. Operational: - TDI Mall, Under construction: - TDI Mall, TDI Mall, Sonepat | TDI Centre Jalandhar. Education:- As an essential element of its fully-integrated townships, TDI is setting-up premium schools that offer students an ideal combination of global best practices in education and the unique ethos of Leisure:- While leisure time may actually be reducing, the demand for quality entertainment avenues is on a rapid rise among the Indian consumers. Sensing this change in trend, TDI is in the process of setting up international level clubs and amusement centers across major cities of the country. Hospitality:- TDI hotels offer high levels of comfort and luxury with facilities comparable to the best in the world. Developed in consultation with industry experts in the field of hospitality, TDI hotels bring forth a tasteful world of indulgence to meet the demanding requirements of the international traveller. Fortune Select TDI Hotel, Kundli An elite project of TDI is located On NH 1, near to Delhi Border and within 3rd ring road of For this Grand project Distance from high rich locality i.e. – Pitampura, Ashok Vihar Shalimar Bagh, Punjabi bagh, Model town, Civil lines and there is only 15 min. drive from bye pass chowk In Near future TDI Kundli would be a good residential address and area is 2000 acre, township and is a mixture of residential, commercial and entertainment city. The area between TDI and At a distance of mere 2.5 km from Developmental Highlights: Every time it gives TDI immense pleasure to present to you the latest development highlights at our mega integrated township of over 1500 acres – • Construction work on furnished residential villas of 250, 350 and 500 sq yds is on at full swing. The sample 500 sq yd villa will be ready within a month for public view. • 40 out of 75 Expandable villas of 250 and 350 sq yds are being constructed at a fast pace. Connecting road for these villas is under construction. • Foundation work on the newly launched 204 sq yds ' • Landscape for the premium 204 sq yds S.C.O – • Possession of plots in Blocks A, B, C, E & F has already been handed over and for the remaining plots, and possession will be given very soon. Some of the plot owners have already started construction and few are at the finishing stage. The M Block plots were launched recently receiving extremely good response from the customers. • Construction of Kingsbury 1st phase has almost reached its final stage. Possession will begin by early next year. • Oxford Street is all ready with glass work, floorings and paint work. KMP Expressway – A fast paced project of 135.6 km that will ease inter- and intra-state traffic to a great extent and will reduce travel time from Kundli to the international airport at Extended Metro Connectivity – The Haryana government's decision to extend the metro network to Kundli has contributed to an upswing of activities by domestic as well as foreign investors. Education Hub – Kundli and Sonepat will soon become education hubs with foreign universities setting up campuses here and an IIM being set up in the near future. Proposed Kundli will soon house a cyber city containing offices of major IT companies. Ø Ample Green area Ø Club Houses, Swimming pool, School in Vicinity. Ø Hospitals Near-by Ø Well lit metal roads Ø Earthquake resistant structure. Ø Vastu friendly layout Ø 100% Power Backup. Ø Gymnasium and fitness centre. Accessibility
Luxuries you can expect Ø Wooden flooring in Master Bedroom Ø Vitrified Tiles Modular Kitchen. Ø Club, Schools and Hospitals in vicinity Ø Pleasing Greenery and Fascinating Parks. Ø Plenty of Parking spaces. Ø Swimming Pools. Unique Selling Points ü This is not a merely transaction, we value your emotions. ü This is a well planned new modernize integrated city. ü Township consist all the facilities e.g. Commercial complex, Community Centre, Medical facilities and Schools. ü Close to International Airport Delhi, National Capital Border and elite colonies of ü Fascinating location and healthy environment to enjoy the every moment of life. ü Township of 1500 acre area. Post In this we assure you for your on time Registry, Possession and Maintenance. We are helping hard in design Approval and Construction. Size and Prices This Elegant integrated township is divided into different sizes plots e.g. 250 SqYds 350 SqYds 500 SqYds 700SqYds 1000SqYds Finance Option To make all the deals and transaction possible, Finance facilities are also available from different banks at very low level of interest rate from PNB Housing, LIC Housing ******* and other major financial institutions are open to ******* the project. Possession Time Possession is in process and booking for starting phases has been started. Any further more information log on to www.zameen-zaidad.com | ||
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Vikas Agarwal outlines some significant factors equity investors need to track at this juncture
The domestic stock markets have had a spectacular run over the last three months. The movement in the stock markets has been quite unidirectional. There are many opinions predicting the possible near-term directions of the markets, but many investors are confused. Here are some of the factors that can influence the market's direction in the short to medium term:
Positive sentiments
Usually, the stock markets are driven by investor sentiments. This is the reason for the higher valuations of stocks during a bull run and vice versa. Currently, positive sentiments are ruling in the markets and the rally over the last three months has created a positive momentum. Therefore, the valuations of stocks are much higher even though there is not much change in their fundamentals or in the environment.
The markets have a tendency to ignore minor negative news when they are in a positive momentum. Investors need to track the market momentum and technical strength. If the momentum stops, it is a signal of a slightly sharper correction as the markets have rallied almost non-stop during the last three months.
Foreign funds
The inflow of funds from abroad is another positive factor in the markets. Foreign institutional investors (FIIs) have already pumped in over USD 4 billion so far this year. Global investors are bullish on emerging markets, especially the domestic markets. In the last quarter, the domestic markets have outperformed the other emerging markets, and emerging markets as a whole have outperformed the developed markets.
The strength of the rupee is also seen as a bullish sign as global investors like to invest in fundamentally-strong markets and economies.
Stable government
The formation of a stable government at the centre has come as a pleasant surprise to everyone, especially the global investors. Their confidence levels have increased and they are expecting economic reforms. The Union Budget is expected to be presented in the beginning of next month and investors have a lot of expectations around the budget. This means the markets are expected to be volatile in June, and the budget will decide the direction the market takes.
First quarter results
The expectations of the first quarter results of the financial year 2009-10 will also keep the markets in a side-way movement with a positive bias. These results will be crucial as analysts will be expecting a better performance from businesses as the economy (both domestic as well as global) has seen some improvements in the last couple of months. Some concerns investors need to factor in:
Many analysts believe that although the global economy has bottomed out, yet there are some concerns in pockets. A GDP growth in the developed countries is yet to be recorded, and hence it is too early to call it the 'end of recession'. Investors need to be careful and track the developments around the global economies as they may spoil the party in the domestic markets.
Correction possible There has been a non-stop rally in the domestic markets over the last three months. The markets have rallied almost 70 percent from the March lows. Analysts believe a logical correction is due in the domestic markets and it's a matter of time before a deeper correction happens. The positive momentum has built a strong support at lower levels in the markets. This is the reason behind the quick bounce-back whenever the markets correct slightly. Some analysts believe the Union Budget may not be able to live up to all the expectations as some of the reforms required are a long-term process. Therefore, the first steps taken by the government are significant. How the government deals with issues such as the high fiscal deficit, need for infrastructure, and disinvestment are significant for investors. In short, the markets are at a very critical juncture. They have run up quite significantly over the last three months and valuations look a bit stretched. Since the markets are in a momentum, another couple of hundred points rally may not be ruled out, but the valuations and fundamentals do not justify a sharp rally from the current levels. Investors holding profitable positions can look at booking some profits at the current levels and hold the remaining positions with a tight stop-loss target. Investors looking at entering the markets should wait for a significant correction or the Union Budget.
Courtesy:- ET dt:- | ||
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Ashish Gupta explains how the volatility in the markets can be assessed
The sharp ups and downs in the market are referred to as volatility. Volatility is a part and parcel of the stock markets. Volatility in a way gives life to the stock markets. Had the growth paths been linear or totally predictable, the stock markets wouldn't have existed. Volatility is considered to be an ideal tool for a short-term investor to generate high returns from his portfolio. It works both ways. Emerging markets' stocks are high beta as compared to developed markets' ones.
Volatility is the rate and magnitude of change in share prices. There are two popular ways to measure volatility. One is called volatility index (VIX) and the second is called beta.
Beta is a measure of volatility of an individual stock. Beta of each stock indicates its relative risk to the index. The beta coefficient describes how the expected return from a stock is correlated to the return from the market as a whole. An asset with a beta of zero means that its price is not at all correlated with the market. That asset is independent.
A positive beta means the asset generally follows the market. A negative beta shows that the asset inversely follows the market. Here, the asset generally decreases in value if the market goes up and vice versa. Correlations are evident between companies within the same industry, or even within the same asset class (such as equity). This correlated risk, measured by beta, creates almost all of the risk in a diversified portfolio.
A beta of one represents market risk. If the beta of a stock is more than one, it is perceived as more risky than the market and if it is less than one, it indicates that the risk associated with the stock is less than the market's. A beta greater than one means the stock is more volatile than the broader market. A beta below one means it's steadier than the index.
For a stock-to-stock comparison the beta is a good tool. It will capture exceptional performances on the upside, as well as on the downside. If you have a stock that has fallen 40 percent over the past year and the index has lost nearly 20 percent in the same period, it means the stock's beta is higher than that of the index. Beta also helps keep things in perspective over the longer term.
Volatility, as measured by volatility index, is a marketwide indicator. If the markets tend to move sharply up or down, the volatility index tends to go up sharply indicating the heightened risks and nervousness of investors. VIX is a measure for the broader markets. When the markets are rangebound or have an upward bias, the market participants' positive views are reflected in the increased buying of call options as compared to put options. This keeps the volatility index at lower levels. On the other hand, if the markets are trading with a negative bias, the buying of put options increases and that reflects in higher readings in the volatility index.
Higher readings indicate higher risk. The volatility index indicates by how much the underlying index could change in the near term based on the order books of underlying options. India VIX, based on Nifty 50 option prices, measures volatility in the domestic markets.
VIX is a measure of implied volatility in trading of securities. The index is calculated using a formula that considers a large number of option strike prices. Volatility is the extent to which the price of something has changed over a period, measured as a percentage. The VIX is said to measure market sentiments, or, more interestingly, to indicate the level of anxiety or complacency in the market. It does this by measuring how much people are willing to pay to buy.
Courtesy:- ET dt:- | ||
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In a move that will come as a shot in the arm to realty sector and owners, HUDA has given the go ahead for registration of independent floors in Gurgaon,
In a move that could bring huge relief to owners of floors in plotted colonies in Gurgaon,
HUDA officials said registration of independent floors would be allowed in case of residential plots in HUDA sectors. In case of built-up property in the existing sectors, where the owner has applied for or obtained occupation certificate prior to the date of issuance of these guidelines, registration of independent floors would be allowed only in case the buildings are constructed on plots measuring 180 sq yard or more. However, there would be no such restriction for vacant plots in old sectors, as well as all residential plots in new sectors.
Officials said the owner of each independent floor would have a distinct title along with proportionate rights in the declared common areas and facilities like right of access, basements and other ownership rights as well as the right to use, transfer or dispose of the property. Any two floors can be jointly transferred, provided the ownership of both the floors is being transferred to one person.
A senior HUDA official said the owner of each such floor would be entitled to separate utility connections such as water supply and electricity, subject to building regulations. According to the new guidelines, the basement, allowed in a residential building would not constitute a separate floor and would form a part of the independent floor at ground level. But, in case owners of different floors in a building intend and agree to use basement as a common area for facilities such as parking or other plant and equipment required for different floors in the building, they might have undivided proportionate rights in the basement.
Similarly, the garage, servant quarters, store, open spaces constructed at ground floor forming part of the building’s ancillary would not form a separate subdivision and would form part of the ground floor only.
Significantly, no increase in maximum permissible Floor Area Ratio (FAR) would be allowed. However, the owner would have an option to distribute the maximum permissible coverage equally on all the floors. No subdivision of plot and vertical divisions of buildings would be allowed.
The owners of each floor in a building will have to make adequate arrangement for parking of their vehicles within their premises and not misuse roads or public property for parking in any manner. This is seen as a critical condition considering the fact that in posh colonies like DLF, Sushant Lok in Gurgaon the average car population per floor is more than two. “So, six cars can no way be accommodated in any existing plot. That is going to be a serious problem until some common parking space is developed in a colony,” said a Gurgaon-based property consultant.
As per the norms, only such owners who have completed all the three floors as per approved building plans and have obtained occupation certificate from competent authority would be eligible to transfer the floor-wise ownership of their buildings.
How to do it: The present owner or allottee may submit an application on the prescribed proforma to the local HUDA estate officer (EO) seeking permission to transfer the ownership of independent floors. The request has to be accompanied by information or documents such as the area or floor proposed to be transferred, along with details of common areas and common facilities, duly defined on the prescribed format.
The owner has also to submit the approved building plan besides a payment of Rs 10,000 towards administrative charges, the original allotment letter, a copy of the approved building plan, copy of the occupation certificate (in case of already constructed building) and photographs of the existing building from all corners.
The EO has the authority to grant permission for such registration after going through the information and documents submitted by the original allottee and after inspecting the building. As per the new set of rules, the transferee shall get a sale deed of the respective floor executed or registered in his or her favour with the sub-registrar and shall submit a certified copy with the EO. Also, the owner will have to submit an indemnity bond on the prescribed proforma and an affidavit from the transferee on the prescribed proforma.
These formalities have to be completed by the transferor and transferee within 90 days from the date of issuance of permission to transfer, failing which the permission to transfer shall stand withdrawn and the owner shall have to apply afresh. Common areas: The common areas would include structures such as foundations, columns, beams, supports, main valves, common roofs, corridors, staircase, fire escapes, entrances and exit of the building. Parking areas, passages, driveways, gardens, storage space, space for security, installations of common services such as power, light, gas, water, heating, refrigeration, airconditioning, sewerage, elevators, tanks, pumps, ducts and such other common facilities.
Courtesy:- TOI dt:- | ||
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Vikas Agarwal outlines some of the significant developments in the markets last week
The stock markets posted net gains last week amid high volatility and ended at a nine- month high level. The Sensex crossed the 15,000 mark and the Nifty stabilised above the 4,500 mark. The rally last week was led mainly by stocks in the capital goods, power, telecom, real estate, financial and pharma sectors.
Analysts believe the market undertones are quite bullish at the moment and investors are chasing stocks at every dip. That is one of the reasons why the corrections in the markets are short-lived after such a sharp move upwards. The market's breadth remained quite positive as mid-cap stocks were in the limelight last week. Analysts believe that there is more steam left in the midcap stocks than in the largecaps which have already run up quite significantly.
In the commodity markets, the crude oil prices also moved upwards last week. Analysts attribute the rise in crude oil prices to speculation by large funds in anticipation of a global economic recovery. The US dollar weakened slightly against major global currencies and precious metals like gold and silver had a rally due to the increased activities of hedge funds.
Here are some of the major developments in the markets last week:
Global
The global markets remained in a consolidation mode last week. Mixed data points were released which impacted the market sentiments accordingly. The
On the other hand, the lower retail sales numbers for last month dampened the market sentiments. However, the domestic market movements remained decoupled from their global peers, and posted gains on most trading days due to the renewed investor confidence levels.
Core sector growth
The core sector growth data for the month of April showed a growth of 4.3 percent. The growth is mainly due to cement, electricity and coal sectors that registered impressive growths. On the other hand, other core sectors like steel, petroleum and refinery are yet to get back on the growth path. Sustained growth in the core sectors will further boost the sentiments in these sectors, and it is good for the overall industrial performance as well, since growth in the infrastructure sector is a good indicator of the general trend in industrial production.
Rupee appreciation
The rupee appreciated sharply (around six percent) against the US dollar during the last few weeks, especially after the election results and formation of the new government. Analysts believe that much of the credit for the currency movement goes to the increased foreign institutional investor (FII) confidence after the election results. These FIIs are bringing fresh funds into the markets and hence the sharp appreciation of the rupee against the US dollar. The Reserve Bank of India (RBI) is trying to smoothen the appreciation of the rupee by purchasing extra dollars from the market as sharp fluctuations in the currency rates is not good for businesses. Analysts believe the rupee is in an uptrend now and its appreciation will continue in the medium term.
Inflation
The week-on-week inflation based on the Wholesale Price Index (WPI) declined slightly and reported at 0.48 percent for the week ended May 23. The inflation has been a non-event for quite some time as this is the 12th consecutive week when it remained below the one percent mark.
Since the overall liquidity situation is quite good, the chances of further policy rate cuts by the RBI look bleak at the moment. However, some banks are revising their prime lending rates (PLR) downwards to pass on the benefits of earlier rate cuts to their existing borrowers.
Courtesy:- ET dt:- | ||
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The property industry is all set for a new beginning under a stable government. Times Property speaks to some industry watchers for a reading of what the immediate future holds
The election results have been a pleasant surprise for all. A stable government possibly translating into gains in every field, in spite of the recession, raised hopes. Anshuman Magazine, Chairman and Managing Director, CB Richard Ellis South Asia Pvt Ltd, says, “In the background of a major economic slowdown and an uncertain future, the elections were important for the country. The outcome of the elections means continuity, expected stability and hopefully the government taking faster and more aggressive decisions to stimulate the economy for a higher growth. This will have a direct impact on the real estate sector”.
There have already been some movements in the realty market since the last month and with these election results, the sentiments will improve significantly, giving confidence to corporates, industry, investors and occupiers - the public at large. A gradual improvement will begin sooner rather than later. Sachin Sandhir, Managing Director and Country Head, Royal Institution of Chartered Surveyors, India (RICS), says, “The government has already taken several steps to provide relief to the real estate sector, and stability under the same policymakers will ensure the announced initiatives meet their logical conclusion. With the philosophy of the UPA government being the interest of the common man, we are hopeful that the government will introduce measures towards affordable housing such as further reduction in interest rates, increasing the tax rebate on home loan interest rates from Rs 1.5 lakhs to Rs 3 lakhs, and increasing the limit of priority sector lending to upto Rs 35 lakhs. Providing infrastructure status to residential townships and according industry status to the sector will facilitate easier bank *******s for these projects which will help bridge existing housing shortfall”.
These are some of the direct fallouts of the election results. For the industry as a whole, he continues, “Long impending reforms including passing of the land acquisition, rehabilitation and resettlement bill and model real estate regulations bill will help restore customer confidence and attract foreign institutional investors (FIIs) to domestic real estate. In addition to these, the setting up of the Real Estate Investment Trust (REIT) would go a long way in institutionalising real estate, improving transparency, processes and liquidity in the market”.
Anuj Puri, Chairman and Country Head, Jones Lang LaSalle Meghraj, says, “The new Government is expected to take some serious pro-active measures to help it recover. We are confident this Government is dedicated to taking forward an integrated reforms agenda that will boost all languishing business sectors. It will need to address the serious infrastructural deficit in the metros, as well as in Tier II/III cities. We are hoping for measures that will make construction of midto-low income housing attractive to developers, an easement in procedures for the clearance of new projects and the clarification of the SEZ and STPI issue”.
Shailesh Kanani, Analyst - Infrastructure and Real Estate, Angel Broking, is more temperate, saying, “According to us there are two major factors impacting the real estate sector - liquidity and business dynamics. There has been a major improvement on the liquidity front as lenders of capital (debt and equity) have become less risk-averse, and access to capital has improved. However, we do not see a major uptrend on the business front and we are keeping a close watch”.
Gul Kripalani, President, Indian Merchants Chamber, says, “We can certainly look for huge investments into the industrial and civic infrastructural facilities like power, urban and rural housing, roadways, transport and logistics, irrigation, dams and drinking water projects, institutions of higher and specialised education, research and development, agriculture, animal husbandry and food processing - all aimed at creating millions of jobs”.
Talking to developers, who have been the most affected group in the last eight months or so due to the recession, it is again an upbeat mood.
Courtesy:- TOI dt:-06-06-09 | ||
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Houses with tenants who stubbornly refuse to vacate can be bought quite cheap — but the new owner has to handle those limpets,
An advertisement recently published in one of the leading English newspapers of the capital makes for interesting reading. “Original allottee of Friends Colony house wants to sell occupied house on ‘as is where is basis’. 300 sq yards. Good location. Immediate sale. Reasonable price.”
When the owner was asked why he wanted to dispose of his house on a ‘reasonable’ rather than market price, he said, “I am tired of fighting with my tenants to vacate my house. They are not ready for that and the case is dragging on in court for a long time now. As I am both old and weary, I am not in a position to fight. Now, I want to dispose of this house, along with the tenant, and it is up to the new owner to handle the tenant. As I am not selling a vacant house, I have no option but to sell it at a far less rate than the prevailing market rate.”
If one were to closely read the classified ads on the property pages of any newspaper, one would find several such ads. Visit any residential area of
A South Delhi-based realty consultant Gulshan Nayar says after owners of such property take their cases to the court and fail to get a positive judgment in time, they finally resort to this method of selling their house — at a far cheaper rate than the prevailing market rates. Citing a recent example of a 480 sq yard Neeti Bagh house, Nayar says the market rate of the house was close to Rs 12 crore while the house actually went for around Rs 9 crore. And even then the owner had no regrets that he sold off the property at such a low rate.
Advocate Sunder Khatri says that all disputes between an owner and his tenant start when they don’t register their rent agreement in a court. In order to register the agreement, the owner has to pay 2% of the total money accrued during the tenancy period. This amount varies in every state. For instance, if you are going for a rent agreement in Noida or any other place in UP, you have to pay 4% with the rent agreement.
According to Century 21 India’s CMD, Devender Gupta, owners who try to save on the stamp duty are playing with fire. “I have seen many times that such property owners face a tough time when the lease period of their
properties end. Tenants create all kinds of trouble for them. And, if any party goes to court, the matter lingers on for years.”
A random survey of Lajpat Nagar-1 and New Rajinder Nagar throws up some revealing facts. In almost 100% cases, disputes between landlords and tenants have been going on for more than a decade. The reason is that at the time of giving a house on rent, the landlord didn’t feel the necessity to register the rent agreement or rent deed in a court. The situation is really bad in the walled city (
Sunder Khatri says that when rent deed is registered and then any dispute arises, the court relies on the contents of the agreement. And naturally, the decision usually comes in favour of the landlord. According to realty experts, there are many people in
Of course, once they property is free from all kinds of disputes, they sell it off again and make a huge profit. However, while there are many buyers for properties occupied by tenants, in almost all parts of the capital,
Courtesy:- TOI dt:- | ||
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The stock markets are in an upward momentum. What should an individual investor do? Shubha Ganesh analyses
It has been a year in which the stock markets fell and rose dramatically. It has been a year that tested the investor's faith in the stock markets. The markets in 2008 and 2009 had all the ingredients that go into the making of a blockbuster movie. The euphoric highs of January 2008, the persistent declines which robbed investors of their wealth, jobs and homes, and reports of gloom and doom that took the markets to an abysmal low of 2,200 levels in the Nifty.
Just as investors reconciled themselves to a few years of bear markets came a ferocious rally that left them stunned and speechless. Like the blockbuster movie a happy ending after many trials and tribulation. In a short span of six months, the markets have doubled from the lows leaving individual investors lighter in the pocket but much wiser after the experience.
FII factor
The reason for such dramatic changes in the market direction seems to point towards the foreign institutional investors (FIIs). A truth that cannot be wished away is that FIIs decide the direction of the domestic markets to a large extent. Markets go up sharply when they buy and fall when they sell. Last year, they accelerated the downfall in the indices by their persistent selling from January to October. Their view was that the economy here, along with global markets, would suffer a protracted slowdown. It under-performed most global indices last year and fell more.
Now, the FII view is that
1991 again
Post elections, the FII view on India has changed dramatically. This fact has been reinforced by the fund flow from FIIs after the election results. They feel the government will now be in a position to actively bring in reforms on a number of fronts and that will make all the difference. For example, the Pension Fund Regulatory and Development Authority Bill, introduced in the Lok Sabha in 2005, could not be passed by the last government due to lack of support.
The FIIs expect pathbreaking reforms and a further shift to a market-based economy. The markets expect the new government to pull out all stops and unleash a slew of reforms in insurance, banking, and retail. Reforms in pension funds, sale of public sector undertakings, large infrastructure spending, and increase in FDI access to civil aviation are expected. Another key expectation is that small public sector banks will be encouraged to merge. The wishlist seems endless. Basically, they expect a focus on economic reforms that will stimulate growth and consumer spending to help the economy recover from the slowdown. Hence, the budget will act as an important catalyst in determining the movement of the stock markets.
Investment strategy
The markets, over the last year, have held many lessons for individual investors. The first lesson is that stocks quoting at distressed valuations give handsome returns. Investors with a strong faith in the stock markets bought stocks then and are generating 100 percent returns on their portfolio now. The lesson here for investors is that investing in quality stocks when markets are in a state of utter panic and holding on to them patiently till the market view changes in your direction is good.
The second lesson is that sharply moving markets tend to correct equally sharply, leaving little time to think and act. So, be decisive and invest in fast-moving markets. Another interesting aspect of the current rally is that small-cap, midcap and growth stocks have been in focus. It is often said that these stocks tend to be the leaders when coming out of bear markets. Does it mean bear markets are over?
It could also be the markets are over-correcting as a compensation for falling very sharply last year. The markets tend to return to the mean over time. Excesses in one direction lead to an excess in the opposite direction. Whether it's extreme optimism or pessimism, the markets eventually revert to the sane long-term valuation levels. In the current rally, stock prices have nearly doubled. These valuations can be justified only in the case of a decisive end to the economic downturn.
Finally, such and end of economic woes has to reflect in corporate earnings. That is the key for any investor. This rally is still having steam on the expectations that the government's path-breaking reforms will bring about a dramatic shift in corporate earnings. Any mismatch in expectations and reality could set a tone for reversal in the markets.
So, stay invested in the expectations of the new bull markets, but be ready to lock in your returns if the government is not as reforms-ready as the markets.
Courtesy:- ET dt:- | ||
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Decorative table lamps and floor lamps do more than simply illuminate - they create ambience. Setting the mood in your home is easier when there is a selection of lamps to choose from, creating different lighting options.
Lamps with ornate handcrafted bases made of cast iron, pottery, carved wood, hammered copper, brass, and elegant combinations of hand-blown glass, crystals and marble are now widely available in the Indian market.
Your lighting choice should complement the entire room setting. Match the lamp to your furniture style to help complete the look. For example, select a sophisticated lamp to use with furniture that is more refined.
The fabric choices for lampshades range from silks and crinkled, oiled papers. A lampshade can also be dressed up with a row of glass beads, pearls, rhinestones, tassels or even feathers.
Paper lamps are cheap and make a statement on a balcony or foyer. These can be changed regularly, as they are not very long lasting.
Lamps can be fitted with dimmer switches to refine the lighting arrangement.
Floor standing lamps are used to add drama, while table lamps are used to add coziness to a room. Working lamps should be flexible and portable.
Courtesy:- TOI dt:- | ||
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Recession or no recession, seasoned professionals in the real estate consulting business seem smitten by the entrepreneurial bug like never before. Whether in From Anuj Nautiyal and Raja Kaushal of Atisreal Redwoods Property Services, Ben Salmon-Mike Holland-Rajpal Chaudhary of Assetz Property Services, Atul Marwah of Prime Options to Abhijit Das of Lemongrass Advisors or Vivek Dahiya of DTZ—these folks are exploring every nook and cranny to find their place under the realty sun. From delivering real estate investment advisory services, to recasting the property portfolio of HNIs to undertaking property due diligence, it’s all happening for these intrepid voyagers, who are out to carve a niche for themselves. And why not? Organised real estate broking and advisory business is pretty large in mature markets. In Take for instance 43-year-old Atul Marwah, an exarmyman with an MBA from Indian Institute of Management Ahmedabad (IIMA) and ex ICICI Prudential, who has started his real estate advisory business, Prime Options since December 2008. “We do due diligence of a property, the developer’s reputation, a historic analysis of the area, the return on investment and the overall cost of development. If our calculations indicate the price being quoted is fair, we recommend it to the buyer,” says Marwah. At present, people are unwilling to spend large sums on real estate due to uncertainly coupled with the fear that prices may slide further. Bad perception about property brokers only adds to the problem. “Since a house or a flat is the most expensive product that a user buys in his life, the transaction needs to be transparent and fair,” notes Marwah, adding that there’s a huge opportunity for those keen to offer quality service. Anuj Nautiyal of Jones Lang LaSalle (JLL), who ventured out on his own in 2006, has a similar tale to tell. He floated Redwoods Projects in “After working in a real estate consultancy for years under set norms, I wanted to have a set up which would dispense with bureaucratic hassles, cut across geographies and provide flexibility for diverse client needs. We focus on real estate investment advisory and help restructure the portfolio of HNIs, corporates and NRIs,” said Mr Nautiyal, managing director & CEO, Atisreal Redwoods. The parent company Atisreal is now established is fast gaining foothold in high-growth markets such as Romania, Ukraine and Russia, Dubai, Bahrain and India. None of the consultants were willing to share business numbers with ET. Lemongrass Advisors is another such enterprise floated by Abhijit Das, former managing director-Kolkata of Jones Lang LaSalle Meghraj (JLLM). Partnering him in this venture is Subesh Ray who has more than 15 years of real estate experience and was associated with Kolkata developer, Mani Group. “The idea is to create a Kolkata-based real estate advisory firm offering services across all segments, on joint ventures and private equity investments. We will also take up real estate portfolio management of nonresident Bengalis and subsequently, that of corporates,” Mr Das pointed out. Incidentally, he is backed by angel investors but he refused to name the investor citing confidentiality reason.
Delhi-based DTZ of Vivek Dahiya, and Assetz Property Services floated by senior industry professionals like Ben Salmon, Mike Holland and Rajpal Chaudhary are some more examples of the same category. Assetz brings a structured approach to developing and delivering real estate projects from land identification and inception design, construction, financing, marketing, full occupation and ongoing asset management. While Salmon was with Lend Lease Group with presence in Australian, Japanese and South Korean markets, Though these are still early days, industry stalwarts feel these entrepreneurs clearly plan to offload their entire or partial holding to IPCs planning to set up shop in Courtesy:- ET dt:- | ||
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8 SEZ Proposals Get Approval, 2 Others In-Principle Nod THE government has given an in principle approval to real estate developer DLF for denitrifying four of its special economic zones (SEZs) that it wants to surrender on the condition that all tax incentives given to the zones will be refunded. The board of approvals (BoA) for these manufacturing hubs met on Tuesday and awarded formal approval to eight SEZ proposals and in principle approval to two proposals. DLF has said it owes the government Rs 6-7 crore in the form of tax exemptions given to its four SEZs, according to a commerce department official who did not want to named. “We have to verify that amount. A formal denotification of the SEZs will be done after the due taxes are paid to the government,” the official said. The listed real estate developer has decided to apply for denotification of its SEZs in DLF had received approval for 15 SEZs , all of which are in the information technology (IT) and infotech enabled services (ITeS) sector. Of these, five are operational and another five are in the process of being established. The company had surrendered one SEZ near Two proposals that received in-principle approval are for setting up multi-products SEZs in Andhra Pradesh and SEZ WHO! 1.DLF had put up its IT/ITES SEZs in 2.Co says it was not feasible to carry on with the projects due to the slowdown and liquidity crunch 3.DLF says it owed the govt between Rs 6 cr & Rs 7 cr in the form of tax exemptions given to four SEZs 4.The formal denotification on will be done only after the due taxes are paid to govt ‘Free’ Zones SEZs that got govt nod include three biotech SEZs-one each in Andhra Pradesh, Karnataka and Courtesy:- ET dt:- | ||
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Front end operational expertise with seasoned developers such as Amrapali and back end domain knowledge with companies such as Katyani Group, which buys land from farmers and maintains it in a repository, Debasish Roy finds that a new age realtor is emerging
Sumit Goyal of the Katyani Group reasons with FINANCIAL TIMES, “we have to spend to maintain the land that we buy from farmers for developers. If we don’t the land will deteriorate and the percentage of sand will increase. In that eventuality we shall have to spend more in building a foundation.”
One of his prime associates, Amrapali Group has made it big in the area near
According to Sharma, construction has three legs to stand on: time taken for construction, money spent on finesse and quality. A developer can win on two but not on three. At the same time, as companies such as planforme.com come forth with back end domain knowledge they find ready buyers in Amrapali and other such companies.
This gives rise to a new age realtor with integrated expertise all round.
Meanwhile, Sumit Goyal has extended his business interests with his new venture planforme.com which aids ordering from restaurants in the National Capital Region.
The checks and balances he maintains are the same that he had with his real estate transactions. A small call centre makes sure that the restaurant can deliver the items ordered before the order is confirmed with the restaurant and the ordering customers.
“Real estate has made us the last word in the North. The Internet will take us forward and take it throughout the country,” reasons Sumit Goyal.
The time may be ripe to bet on realty in 10 years.
Courtesy:- FT dt:- | ||
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Population growth calls for Rs 30K cr investment in core & realty sectors
Once a sleepy hamlet in the north
The active nature of the city is evident from the rise in the number of motor vehicles. From 42,000 registered vehicles, including LMVs and two-wheelers, in 1996, it had grown to 86,000 in 2004. Over 13,000 new registrations are being added to that every year. “Vehicles in Siliguri are growing at a much faster rate than the population. This trend is expected to continue in the future,” says a study on Siliguri city development strategy, prepared by the
The high population growth, along with the vehicular growth and increasing power needs which are as high as 90MW clearly indicates a growing potential for the city in the real estate sector too. The Siliguri Jalpaiguri Planning Area, a zone encompassing the districts of
“Strategic links like the growing trade paths with
“It would be a daunting task for the
Under a long-term perspective plan for Siliguri Jalpaiguri Planning area, prepared by IIT, Kharagpur, it had a housing shortage of 4,721 units in 2001 compared with 3,030 units in 1991. Against this, the present trend suggests that annual housing demand will be an additional 11,700 units per year till 2011 and will rise further up to 15,330 units per year during 2011-21, and to 25,000 units per year till 2025.
Given the potential, the Bengal Ambuja Group has already developed a 400-acre mega housing project, in which the state government and Siliguri Jalpaiguri Development Authority hold 8% stake each. “We were confident on our Siliguri project since beginning. Now the project has become a confidence builder for others too. In fact, we are planning few other projects in nearby areas,” Harshvardhan Neotia, Chairman, Ambuja Reality Development said. Following this, Bengal Unitech and the
Courtesy:- Et dt:- | ||
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With the stockmarkets set on the path to recovery and top realty companies such as DLF and Unitech managing to raise funds to bridge their debts, money has started trickling into the Indian realty sector that had tanked in September 2008 after years of a joy ride.
Private equity players, who had virtually vanished from the realty frame, are now returning with domestic funds taking the lead, say a clutch of real estate lenders and funds that SundayET spoke to. According to some of the most optimistic projections, the Indian realty market will attract Rs 10,000 crore to Rs 12,000 crore in the next 12 to 18 months.
“We have already entered into two deals and expect to close them within the next couple of months,” says
Subhash
Says Kaustuv Roy, ED of Cushman & Wakefield, a realty consultancy: “There has been a movement as far as funds to the realty companies are concerned. While nothing much was happening between July and December 2008, in the last couple of months, almost every real estate fund has become active and is aggressively looking at good projects for investing.”
This new interest, however, comes with riders. Funding is mostly on a project-to-project basis, and most of the investments are through special purpose vehicles. “The market is improving and there has been a pick up in sales over the last three months, many institutional financiers and PEs are showing interest but they are keen on working on a project-to-project basis,” agrees Rohtas Goel, CMD, Omaxe Group.
Kotak Realty Fund, a prominent player in the sector is looking to deploy around Rs 3,000 crore in the next two years in the Indian realty sector. “We are looking at a couple of transactions in this quarter and are more interested in the residential space,” says CEO S Sriniwasan.
These institutional investors are now mainly looking at the residential space. In fact, both the deals, where Red Fort Capital made investment, are in the residential segment. Ritesh Vohra, director at Saffron Asset Advisors, a private equity fund operating in the real estate sector, adds that they are in search of good projects for investment during this quarter.
In addition to PEs, other financial institutions have also begun to spot opportunities to deploy funds. Indiabulls Financial Services is also said to be evaluating several projects for investment. On a sober note, Anshuman Magazine, CMD of CB Richard Ellis (
Courtesy :- Et dt:- | ||
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The private sector real estate players must reset their priorities so as to provide low-cost housing to the middle class and the poor. S Jaipal Reddy made the point clear while taking charge of the urban development ministry for the second consecutive term here on Friday.
“The private sector, which is a major player in the housing sector, must reset its priorities. So far, they had been building apartments for the rich. They must now concentrate on providing accommodation for the middle class and the poor,” Mr Reddy told newspersons after taking over the reins of the ministry.
It’s a measure of the recognition of the good work done by him during his first stint in the Nirman Bhawan that the Congress leadership was constrained to ask him to continue shepherding the urban development ministry. The senior Congress leader, who romped home comfortably from the Chelvella Lok Sabha seat in Andhra Pradesh, spelt out his priorities for the next five years. Admitting that the Centre found itself hamstrung in the housing sector as land was a state subject, Mr Reddy said he would speak to state governments to consider providing land for housing the poor and the middle class. Among other things, his priority is to complete the task of drafting the bill seeking to create an urban regulatory authority for
“We must, therefore, evolve a proper shape so that the interests of the consumers are protected,” the minister remarked. The ministry, Mr Reddy told newspersons, was also in the process of negotiating a $3-billion World Bank loan to supplement the efforts of JNURM for creating a better urban inclusive environment. The amount, he said, would be utilised to improve drinking water, sewerage, sanitation and public transportation.
The minister said: “There are still certain issues pertaining to ceiling which need to be addressed. We had taken a few initiatives in the past couple of years. The people appreciated our efforts. That’s why they voted for us twice in past few months.”. The ministry, he added, would also strive to improve infrastructure services. “Our endeavour will be to add to the initiatives taken in this direction by the
Courtesy:- ET dt:- | ||
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Home loan schemes come with a host of options to choose from. Ashish Gupta outlines a few of these options to help you fit in the EMIs comfortably with your other regular monthly expenses
It is vital to ensure you are comfortable with your home loan repayment. If you are not, it may lead to defaults in the schedule. This can lead to a poor credit history. Therefore, you need to check out the various options and select the one best-suited to your needs.
Here are some options to make your repayment comfortable:
Flexible loan instalment plan
In this case, the loan comes with a customised solution to suit the needs of customers whose repayment capacity is likely to alter during the term of the loan. The loan is structured in such a way that the EMI is higher during the initial years, and subsequently decreases in the latter part, proportionate to the reduced income of the customer. For example, assume a husband and wife take a loan jointly of Rs 30 lakhs for 15 years. Assume the husband has eight years of service left and the wife has 15 years of service left. In this case, the 15-year loan can be structured such that higher EMIs are paid during the first eight years and lower EMIs are paid for the balance seven years.
Acceleration of EMIs
Here, a borrower has the option to increase the EMIs every year in proportion to the increase in his income. In case a customer avails of a loan with a repayment period of 15 years and increases his EMIs every year by say 10 percent, he can shorten the effective tenure of his loan period to less than 15 years. The borrower repays the loan faster and saves on interest. He also retains liquidity, as he need not make lump-sum payments, thus releasing funds for other investments.
Balloon Payment
This helps in increasing the loan eligibility of the customer without increasing the EMIs. The borrower needs to assign securities like LIC policies, government bonds, National Savings Certificate (NSC) etc in favour of the bank. The present value of the maturity amount of the assigned securities is combined with the loan amount to arrive at the enhanced loan eligibility. The EMI is calculated on the net loan amount - total loan minus the present value of the securities offered by the borrower.
Step-up repayment facility
Under this mode, the payment of principal amount is deferred to the later years. The objective of this scheme is to provide the borrower with a repayment schedule that is linked to his expected growth in income. Under this option, the borrower can avail of a higher amount of loan and pay lower EMIs in the initial years. Subsequently, the EMI is increased proportionately with the assumed increase in his income. It also helps a borrower get a larger amount as compared to the amount under the regular options.
The EMIs will be increased in stages. For example, for a 15-year loan, the repayment schedule divided into three stages would give a step-up in the EMI at the end of every fifth year. The EMIs for the first five years will constitute a large part of the interest and a nominal sum of the principal portion. For the balance 10 years, the EMIs are stepped up to recover the outstanding principal and interest for the remaining term of the loan.
Considering the tax benefits on the interest paid on a housing loan, this option can be used to maximise the tax benefit. This mode proves costly if you intend to repay the loan in the middle of the term, because you would have repaid only the interest element and not the principal element in the initial years.
Courtesy:- FT dt:- | ||
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It is something that you would not expect from a big-ticket real estate brand. In a sign of the times where demand lies in affordable homes, Delhi-based Unitech Ltd is planning to launch projects with homes priced around Rs10 lakh, echoing the downmarket strategy pursued by the Tatas.
The company outlined its intention in a said in a presentation made to investors recently.
Details on the specifications and locations were not immediately available. A company spokesperson said the products are still at a conceptual stage.
Earlier this month, Tata Housing, a subsidiary of Tata Sons announced a residential project priced in the range of Rs 3.9 lakh to Rs 6.7 lakh at Mumbai’s distant suburbs.
Unitech has already launched homes priced below Rs 20 lakh in locations like Chennai. “Through a combination of reduction in costs, decrease in unit sizes and reduction in margins, Unitech has been able to offer housing at prices affordable to a wider cross section of customers,” the presentation said.
“Launching a project around a Rs 10-lakh flat in the metros would require immense incentivisation from the government but it is possible to launch such a project in smaller towns,” Sanjay Dutt, chief executive at property consultant Jones Lang LaSalle Meghraj told Hindustan Times.
Courtesy:- HT dt:- | ||
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It is something that you would not expect from a big-ticket real estate brand. In a sign of the times where demand lies in affordable homes, Delhi-based Unitech Ltd is planning to launch projects with homes priced around Rs10 lakh, echoing the downmarket strategy pursued by the Tatas.
The company outlined its intention in a said in a presentation made to investors recently.
Details on the specifications and locations were not immediately available. A company spokesperson said the products are still at a conceptual stage.
Earlier this month, Tata Housing, a subsidiary of Tata Sons announced a residential project priced in the range of Rs 3.9 lakh to Rs 6.7 lakh at Mumbai’s distant suburbs.
Unitech has already launched homes priced below Rs 20 lakh in locations like Chennai. “Through a combination of reduction in costs, decrease in unit sizes and reduction in margins, Unitech has been able to offer housing at prices affordable to a wider cross section of customers,” the presentation said.
“Launching a project around a Rs 10-lakh flat in the metros would require immense incentivisation from the government but it is possible to launch such a project in smaller towns,” Sanjay Dutt, chief executive at property consultant Jones Lang LaSalle Meghraj told Hindustan Times.
Courtesy:- HT dt:- | ||
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The company's stock is the largest gainer in the real estate sector. It has appreciated by 75 per cent from Rs 111.15 to Rs 194.25 on reports that the company was going to raise funds through Qualified Institutional Placements (QIP) issue. The board of directors of the company has called an Extraordinary General Meeting (EGM) on The Extraordinary General Meeting will consider the increase in the share capital of the company up to Rs 1,500 crore and the increase in the limit of investment by foreign institutional investors (FIIs) in the equity shares of the company up to 100 per cent of the equity share capital of the company. The Bangalore-based real estate firm that engages primarily in the construction and development of contractual and residential projects, is looking to raise around Rs 1,000 crore via QIP issue. The company has posted 53 per cent fall in net profit to Rs 107.80 crore (Rs 228.10 crore) for the financial year ended 31st March, 2009, while net sales have declined by 32 per cent to Rs 974 crore (Rs 1,431 crore) during the year. The counter clocked combined volumes of four million shares in last week as against two million shares were traded in previous week. The real estate sector has been facing a liquidity crunch for some time now but the situation has improved post the election results. In fact, many industry players are encouraged by the response Indiabulls and Unitech have received. Indiabulls Real Estate has raised Rs 2,656.50 crore through QIP. The company issued 14.36 crore equity shares at Rs 185 per share. Unitech had raised about Rs 1,615.25 crore through QIP. The promoter’s stake after the QIP has come down in both the cases. Courtesy:- BS dt:- | ||
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HOME BUYERS FROM LOW-INCOME GROUP TO BENEFIT FROM DEAL. Tata Housing Development Company has partnered with Micro Housing Finance Corporation (MHFC) to provide easy housing ******* to the lower income group for its housing initiative - Shubh Griha. The company has also extended the deadline for the submission of the application forms to May 28 for the 1,000 unit-integrated township, a press release issued here today stated. MHFC has set up a stall at the Boisar site in Thane district in order to assist consumers in the procedure. The MHFC ***** will be long-term micro ********* for need-based housing, the release said, adding that MHFC would be flexible in its documentation requirements and will make its interest rates affordable. Bookings will be accepted till May 28 along with the initial booking amount of Rs 10,000 through a bank pay-order at the Tata Housing office at Fort in south Mumbai and the site office at Boisar. Tata Housing’s Managing Director and CEO, Brotin Banerjee, said that “With Shubh Griha, the consumer at the bottom of the pyramid has an opportunity to fulfil his dream of owning a house in a city like Mumbai. We are delighted to partner with MHFC and provide an opportunity to all those who aspire for a home to realise their dreams.” “We have also extended the date of submission of the forms in order to give the applicants a chance to arrange for ******* through MHFC,” he added. The first Shubh Griha property will be launched in Boisar in the city and will be priced between Rs 3.9-lakh to Rs 6.7-lakh, the release said. “We believe we share common values with Tata Housing in creating a long-term solution for quality, affordable housing in urban Courtesy:- BS dt:- | ||
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