Maharashtra govt to simplify deemed conveyance for housing societies

http://wap.business-standard.com/article/pti-stories/maha-govt-to-simplify-deemed-conveyance-for-housing-societies-114111300755_1.html Maharashtra govt to simplify deemed conveyance for housing societies

Maharashtra government will simplify the 'Deemed Conveyance' procedures for convenience of the co-operative housing societies in the state.

"To protect the interest of the depositors in the co-operative credit societies and co-operative banks in the state, the Government will come out with a long term policy within the next three months," Governor C Vidyasagar Rao said in his address to the state legislature here yesterday.

Speaking on wide range of topics, the Governor said that after decontrol of sugar by the Central Government, it is being procured through open market for the public distribution system.

He said the state government will undertake long term measures to mitigate the adverse impacts of drought, specially in areas which are chronically drought prone.

The Water Policy will be reviewed keeping in mind the developments in Agriculture, Industries and the need of drinking water, he said.

Efficient fiscal planning based on completion of 75% of the completed projects, particularly in districts with backlog, and an all out effort to complete 50% of incomplete projects, including distribution systems by 2019 shall be the government's priority, he said.

Other top priority includes, efforts towards forest and wild life sanctuaries conservation. Conservation of tigers, with Nagpur as Tiger Capital of India, rehabilitation of villagers from tiger reserves and promotion of wild life tourism around Tiger Reserves in Vidarbha and Sahyadri regions.

"In view of the vision of Prime Minister to develop hundred smart cities in the country, my Government will develop maximum smart cities in the State in the next five years," he said.

On transportation, he said to improve mass transportation in the Mumbai Metropolitan Region, an integrated approach will be adopted which will include a network of roads, waterways, metros and mono rails.

In order to lessen the burden on the existing rail and road transport systems, the government will create basic infrastructure and amenities to promote Water Transport Projects on the East and West coasts of Mumbai, Navi Mumbai and Konkan region.

The objective of 'Housing for all: By 2022' will be achieved through large scale construction of affordable houses through Government and semi-Government agencies like MHADA, MMRDA, CIDCO and Nagpur Improvement Trust, he said.

The ‘Smart’ Option

http://www.businessworld.in/news/business/infrastructure/the-%E2%80%98smart%E2%80%99-option/1619064/page-1.html

 The ‘Smart’ Option
Building happy, futuristic cities is the flavour of the season. Earlier, polluted, over-crowded cities were seen as India’s ugly face; something nobody was doing anything about. Now, cities are ‘in’; urban India is where people are moving to. Call it the Modi-effect or a realisation that has come late, but governments at the Centre and the states are now tripping over themselves to announce new initiatives and reforms.

It cannot be otherwise. Today, 35 per cent of the country’s 1.2 billion people live in urban agglomerations. By 2050, half of India will be living in cities and towns. Meanwhile, neglect and lack of comprehensive civic programmes have made existing cities cesspools of deprivation. Nearly 45 per cent of Mumbai lives in slums, while for Kolkata and Chennai the figure is close to 30 per cent.

So when the Narendra Modi government unveiled its first budget proposals in July this year, it grabbed the bull by the horns. Finance minister (FM) Arun Jaitley put building homes and cities at the top of the development agenda, while Prime Minister Modi said ‘housing for all’ was not just a slogan but an achievable target by the year 2022. Simultaneously, the FM announced that the government was committed to building 100 ‘smart’ cities, and allocated Rs 7,060 crore for initiating the process. Everybody knew this was not enough to even set up the drawing boards for planning the new cities. So where is the money going to come from?

THE TOP 10 CITIES IN 2014

DELHI
MUMBAI
GURGAON
NOIDA
CHENNAI
HYDERABAD
BANGALORE
KOLKATA
PUNE
AHMEDABAD

Overseas investment is part of the answer. To attract money to construction and realty, the Union Cabinet has now approved dropping the minimum 10-hectare requirement for serviced housing plots and reducing the minimum floor area for FDI-compliant projects from 50,000 sq. metres to 20,000 sq. metres. The new norms also halved the minimum FDI requirement to $5 million from $10 million earlier. Further, the condition of a three-year lock-in period for developers of FDI-compliant projects has been dropped, making exits for foreign investors easier.

Beyond the hype though, little is known about ‘smart’ cities and where they are to come up. ‘Smart’ cities is a term used by European urban planners to define technologically advanced urban communities that use gadgetry to make life comfortable and transportation seamless and easy. Metropolitan commissioner for Mumbai, U.P.S. Madan, says for him turning the posh corporate enclave of Bandra-Kurla Complex (BKC) into a ‘smart’ city meant complete wi-fi coverage, electronic display of parking, intelligent signalling systems and a hi-tech security network with CCTV coverage to protect the community.

Others have defined ‘smart’ cities more comprehensively based on international experience stretching from Copenhagen to Cape Town and from San Francisco to Singapore. Anshuman Magazine, chairman and managing director of realty broker CBRE South Asia, flags a few important pointers: scientific governance at the municipal level; holistic urban planning; involving the urban citizen; smart technology; integrating green technology with human development; and addressing challenges of informal urban settlements.

What is also becoming clear is that the ‘smart’ cities the government has in mind will be new, greenfield creations, probably satellite towns of larger cities rather than re-engineered versions of decrepit metropolises. The government has announced a few — Ponneri in Tamil Nadu, Krishnapatnam in Seemandhra, Tumkur in Karnataka, Varanasi in UP, and the Gujarat International Finance Tec-City (GIFT). An initial concept note prepared by the Union Ministry of Urban Development has estimated the project development cost over 20 years to be around Rs 6.86 lakh crore, of which it proposes to earn Rs 39,000 crore from a slew of environmental and green taxes.

Fast-tracking infra projects will give good signal: P Hinduja

http://m.economictimes.com/news/economy/infrastructure/fast-tracking-infra-projects-will-give-good-signal-p-hinduja/articleshow/45086329.cms Fast-tracking infra projects will give good signal: P Hinduja
NEW DELHI: With infrastructure holding the key to India's economic recovery, government should fast-track projects in this sector to send positive signals to investors, noted industrialist Prakash Hinduja has said.

A $250 billion investment is needed just to boost basic urban infrastructure to get the lumbering economy to grow faster.

Hinduja, Chairman of the Hinduja Group of Companies in Europe, said there is also a need to concentrate on enhancing the India's technological and manufacturing prowess.

"Programmes on infrastructure, many projects are not moving. Foreigners have invested in infrastructure... If the government works on them and puts them on fast track, this will give a good signal to the world," Hinduja told PTI.

Praising the efforts of the government led by Prime Minister Narendra Modi, he said government's track record in the last 5 months has generated a positive sentiment among the global business community.

"The way government has been moving in these 5 months gives a good signal to the world. Stock market has gone up. Different projects are coming in. Investments are coming from abroad. In these 5 months so much movement has happened. It gives a proper feel that change is happening," he added.

Government has already made revamping the infrastructure sector in the country as its top priority with Modi chairing a high-level meeting earlier this month to review the progress on inter-linking connectivity-related infrastructure sectors.

Reviewing work in connectivity-linked infrastructure sectors, Modi has emphasised on faster inter-ministerial coordination and resolution of issues and laid stress on achieving visible results in clear time frames.

He has also directed strict monitoring of projects, based on monthly completion of targets.
Last month, stressing on the need to scale up urban infrastructure, Urban Development Minister M Venkaiah Naidu said the country needs to invest an estimated $250 billion over next 20 years for basic urban infrastructure like roads, transport and water supply.

Analysts say that infrastructure in India is poised for an explosive growth. Consultancy firm PwC in a report has said India's share of the overall Asia-Pacific infrastructure market is expected to continue to grow, reaching around 12.5 per cent or $6.6 trillion by 2025.

Besides infrastructure, Hinduja said, the government also needs to concentrate on developing the technological and manufacturing potential of the country.

He added: "The most important issue for India is technology and manufacturing. Like 'Make In India' is a good concept, but how to make that happen. You need technology. So slogan is that technology is top priority to be brought into the country where we are able to learn the skills and learn other programmes."

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पुण्यात गृहप्रकल्पासाठी "अच्छे दिन'

पुण्यात गृहप्रकल्पासाठी "अच्छे दिन' http://epaper1.esakal.com/5Nov2014/Enlarge/PuneCity/page4.htm
पुणे - दिल्ली, अहमदाबाद, बंगळुरू, मुंबई यांसारख्या महानगरांतील घरे बांधण्याचा वेग कमी होत असताना पुण्यातील गृहबांधणी मात्र चांगलीच वाढली आहे. देशात कोलकत्यातील घरबांधणीचा वेग गतवर्षीच्या तुलनेत सर्वाधिक 28 टक्के होता, तर पुण्यात तो दुसऱ्या क्रमांकाचा म्हणजे अठरा टक्के होता.

कुशमन ऍण्ड वेकफिल्ड या जागतिक स्तरावरील संस्थेने याबाबत पाहणी केली असून दिल्ली, अहमदाबाद, बंगळुरू, मुंबई यांसारख्या महानगरांमध्ये अशा प्रकल्पाची संख्या गेल्या वर्षीच्या तुलनेत घटली असल्याचे त्यात आढळून आले. देशामध्ये 166 नवीन गृहप्रकल्प गेल्या तिमाहीत सुरू झाले असले तरीही परवडणाऱ्या घरांच्या प्रकल्पात मागील वर्षीच्या (जुलै- सप्टेंबर 2013) तुलनेत यंदा 52 टक्‍क्‍यांनी घट झाल्याचे या पाहणी अहवालात नमूद केले आहे.

कुशमन ऍण्ड वेकफिल्ड ही जागतिक स्तरावर बांधकाम क्षेत्रात सल्लागार म्हणून काम करणारी संस्था आहे. या संस्थेतर्फे भारतातील आठ शहरांमध्ये जुलै- सप्टेंबर या तिमाहीत नव्याने बांधण्यात येणाऱ्या गृहप्रकल्पांची पाहणी करण्यात आली. या शहरांमध्ये यंदाच्या तिमाहीत 166 गृहप्रकल्प हाती घेतल्याचे दिसून आले. चेन्नईमध्ये सर्वाधिक 45 प्रकल्प तर अहमदाबादमध्ये सर्वांत कमी म्हणजे पाच प्रकल्पांची पायाभरणी यंदा झाली. या अहवालानुसार, देशातील या शहरांमध्ये मागील वर्षी (जुलै- सप्टें 2013) 43 हजार 800 सदनिकांचे प्रकल्प हाती घेतले होते. त्या तुलनेत यंदा 34 हजार 600 सदनिकांचे प्रकल्प उभारण्यात येत आहेत. यंदा 400 लक्‍झरीस्‌ सदनिकांचे प्रकल्प देशात उभारले जात आहेत. परवडणाऱ्या घरांची संख्या 9 हजार 800 वरुन 4 हजार 700 म्हणजेच 52 टक्‍क्‍यांनी घसरली आहे.

Govt to develop dry port in Pimpri Chinchwad

http://timesofindia.indiatimes.com/city/pune/Govt-to-develop-dry-port-in-Pimpri-Chinchwad/articleshow/45008645.cms

Govt to develop dry port in Pimpri Chinchwad

PUNE: The Centre will develop a dry port in Pimpri Chinchwad to enable export, Nitin Gadkari, Union minister for road transport and highways, said on Saturday.

Gadkari was speaking after inaugurating the Institute of Driving Training and Research, developed by Central Institute of Road Transport (CIRT) and Tata Motors on a public-private partnership basis.

The minister said the roads and ports in the country are congested and there was a need to develop inland transport. "Inland transport forms 20% of the total traffic in China, while it is only 0.5% in India. If tourism is to be promoted, there is need to develop inland transport," he said.

Gadkari said the CIRT must set up a centre here wherein research can be conducted in transport, automobiles, pollution control norms and other aspects meeting international standards. "We will provide all the funds needed for setting it up. Small models of the driving training institute should be set up in villages on a public-private partnership basis to train drivers and reduce accidents," he said.

The Union government will also encourage state governments to develop bus ports on public-private partnership basis to give facilities similar to those at airports to passengers. Hotels, restaurants, malls and other facilities at these bus ports will also generate employment, he said adding that the Union government will also give subsidy for gap funding to make them viable.

Gadkari said the Centre has prepared a draft suggesting changes in the Motor Vehicles Act 1988 and will make efforts to get it passed in the Parliament in the winter session. He said that negligence by drivers was responsible for the maximum number of road accidents, but there is also a need to improve roads and give proper training to drivers to reduce accidents.

The country will need around 4.7 crore skilled drivers by 2020. These drivers can also get jobs abroad, he added. Sent from my iPad

Reserves ! Savings

http://www.arthayantra.com/latest-blogs/item/379-three-out-of-four-indians-would-go-bankrupt.html
Three out of four indians would go bankrupt

Mr. Horace Mann said ‘There is nothing as costly as ignorance’. We follow an age old habit of ignoring the consequences of an emergency in our life. The practice of maintaining emergency fund is not in the highest priority list amongst the most of the professionals. ArthaYantra conducted a research on 2000+ working professionals across various cities of India covering various age demographics, some alarming results came out which expose the preparedness of these professionals to meet an emergency in their life. An emergency is the risk caused due to death/disability, risk of health or loss of job.

Entry Level Professionals

When it comes to preparedness for an emergency, Entry Level professional fared surprisingly low. As high as 85.6% of professionals do not have enough savings for emergencies or have inadequate liquid reserves.

The entry level professional are generally those who have less than 6 years of working experience, mostly single with less financial burden. But considering the future aspects, it is very important for them to start having adequate reserves.

Mid - Level Professionals

The midlevel professionals are categorized as young family with mortgages to pay and some immediate financial requirement. This category ideally should have a sufficient reserves as the cash requirement are short term and immediate. But they fall short when it comes to preparedness for emergencies. Research shows that 61.60% percent do not have proper surplus to meet any future contingencies.

Although the numbers as compared to the entry level professionals are slightly better, but looking at their future burden of responsibilities, they are the most vulnerable to such emergencies. It would be prudent for this group of professionals to proactively start building an emergency corpus to face any adverse situation in life.

Senior Level Professionals

When it comes to even higher level professional the picture doesn’t look good at all. Alarmingly, 70.83% of senior level professional do not have proper buffer for emergencies.

Consider middle age families with young kids in a situation where the sole breadwinner dies due to accident or loses the job or one of the family members get seriously ill. In such circumstances, they would be forced to either sell their assets like jewelry or even their homes. Personal loans, hand loans and credit cards start playing their role in addling on to their debts and hence disturbing their financial life completely.

Planning for future financial goals should never be done at the cost of ignorance of planning for an uncertain future event. One needs to make sure that the amount spent for securing such a risk is not treated as an unnecessary expense. Just like planning for retirement, planning for an uncertain job loss by setting aside a multiple of the monthly expenses is also very important. It would ensure the lifestyle remains unchanged even when the situation gets tough.

In personal finance there are three risks which are required to be covered.

Risk of death/disability

For a family where the earning member either dies or suffers disability which results in the loss of income, a proper insurance coverage against such situation would ensure adequate support to the dependents. The insurance coverage should only be in the form of a pure term plan or personal accident insurance policy.

Risk of health

With the change in lifestyle and increase in hospital expenses, one has to ensure that proper health insurance coverage is taken. This would cover the expenses in case of illness of any family member. Although there is coverage provided by the employer in some cases, this coverage is always not adequate. Hence one should not rely only on the coverage provided by the employer but also buy some coverage on their own to ensure the entire risk is adequately covered.

Risk of Job Loss/Major expenses

Planning for this kind of emergencies is the most ignored aspect of personal finance. Proper liquidity has to be maintained throughout so that any possibility of personal/hand loans and credit card usage is minimized. The ideal amount to be kept aside should be 3 to 6 months of monthly expenses.

Conclusion:

Before determining future financial aspirations, the savings for an emergency should be considered as the highest priority objective. Although there are other options that can be used in such contingencies like personal loans, hand loans, etc. but they would finally end up as a liability and hence will cause serious dents in surplus levels. Ignoring the savings for emergency can even cost future goals impacting the entire personal finance of the individual. It would be good to start saving with a disciplined approach to face any emergencies in life.

The Difference Between Real Estate Investment and Speculation

http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=25988&cat_id=1
Property Pulse - the Realty Plus Newsletter

The Difference Between Real Estate Investment and Speculation
Arvind Jain,
Managing Director - Pride Group

In financial circles, the terms real estate investors and real estate speculators are used to refer to people who are buying property to make a profit, rather than for personal use. Though the two terms are often used interchangeably, they are not exactly the same. Nevertheless, even veteran financial specialists tend to get mixed up between the two.

In order to understand the difference between the real estate investor and the speculator, it is necessary to have a look at their methods of operation. A speculator predicts (or attempts to predict) the future return on any investment, and tends to be focused on short-term profits. He or she is often not very well informed on how the asset class of real estate works in a particular locality. Since speculators are usually also active in other investment segments such as stocks, bonds and bullion, they tend to use the same approach for all asset classes. The general approach is to buy low and sell high in a very short period of time.

A real estate investor, on the other hand, makes a careful analysis of the current market position, market trends and related affecting factors so as to make an informed and forward-looking investment decision. Investors are not looking at short-term profitability, which is in any case not a viable objective to operate from in Indian real estate. While investors also tend to invest into other asset classes, they do not do so without fully understanding them.

The next question about the difference between speculators and investors would pertain to the returns they get. While a speculator may make a lot of money if he makes an accurate guess, all such returns are short lived. If the real estate market is facing a short-term decline, the speculator stands to lose all his money because he is also investing only for the short term. A related facet of real estate speculation is that it is, for the above reasons, not suitable for rental income generation.

An investors, however, is looking at healthy, steady returns on capital appreciation and rental income. For this reason, he maintains a reasonable investment horizon which is tailored to the market dynamics of this particular asset class. This is important because Indian real estate is subject to cyclical ups and downs. A property cycle is dictated by various factors related to population growth, GDP, policy framework and sentiment, and boom and slump periods are more or less a given. Indian property investors aim to ride through the predictable ups and downs of this cycle. To do so they must remain invested for a period of at least 5-7 years.

Another reason why a longer investment horizon is important is that most investors look at buying properties at a lower rate at new locations in anticipation of the demand to come. For this to bear fruit, they must give these locations sufficient time to receive basic infrastructure and spillover demand from adjoining areas.

Long-term investments made by property investors provide stable and reliable returns. Investors are not prone to losing their money due to a receding market, because they have made a more careful analysis of the market condition and are willing to wait till their expected results are delivered as per the market data before they make their move.

As Robert Kiyosaki puts it ‘Real estate investing, even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth.’ Also, real estate is by far the ultimate asset since it not only grows in value but also performs as a rental income generator. But it must always be approached from an investor's perspective rather than from speculative objectives.