Bringing Ravet closer to everything

2 BRT, one coming from Aundh and one from Nigdi, two subways connecting Akurdi , New railway line to connect Pune and Lonavala : what more do you need to become the next centre of the promising PCMC !!!

read the news extracts and happenings around for the concerned news !

Railway under bridge at Akurdi station inaugurated PUNE:

Travel from Nigdi to Ravet will become easier for thousands of people as the second railway under bridge (RUB) near Akurdi railway station has been inaugurated. 

Anil Suryavanshi, executive engineer, PCNTDA said, "The length of subways is 47 meter. The width is 8.58 meter and the height is 4.78 meter. The first new subway was inaugurated in February 2014 which reduced the vehicular congestion on approach roads of the old subway. The second subway was inaugurated by district guardian minister Girish Bapat last week."

 Earlier, residents of newly developing areas of Ravet, Walhekarwadi, Kiwale and parts of Akurdi crossed the railway tracks through a water logged subway to go to Nigdi-Pradhikaran, Pune-Mumbai highway and other areas.  There was a demand from residents of Akurdi, Ravet and Nigdi that a modern wide subway be constructed. The Pimpri Chinchwad New Township Development Authority (PCNTDA) invited bids for the construction of new subway in March 2010 at cost of Rs 8.1 crore.

PCNTDA had planned to construct two separate subways using push box technology for light vehicles and two-wheelers, namely one for going from Nigdi to Ravet and other for coming from Ravet to Nigdi.  http://timesofindia.indiatimes.com/city/pune/Railway-under-bridge-at-Akurdi-station-inaugurated/articleshow/48759306.cms http://m.timesofindia.com/city/pune/PCMC-changes-design-of-Ravet-ROB/articleshow/48460805.cms

PCMC changes design of Ravet ROB PUNE:

The Pimpri Chinchwad Municipal Corporation has changed the design of its railway overbridge (ROB) at Ravet due to expansion of tracks on the Pune-Lonavla section. A third track is being planned on Pune-Lonavla stretch. On July 8, the railway authorities sent a letter to the civic body asking it to shell out Rs 26.51 lakh extra before change in overbridge design is approved.

 As per the resolution, the civic body plans to develop a 45-metre wide bus rapid transit system (BRTS) route from Bhakti Shakti Chowk in Nigdi to Mukai Chowk in Kiwale with Pune-Lonavla railway track crossing it at Nisarga Darshan Society.  The PCMC sought to construct a railway overbridge at this spot for providing easy passage of vehicles. We have just the right project for you Arun BLU

Real Estate slowdown: 5 factors that can revive the sector

http://www.financialexpress.com/article/economy/real-estate-slowdown-5-factors-that-can-revive-the-sector/125918/ Real Estate slowdown: 5 factors that can revive the sector

The real estate slowdown in India appears to be taking much longer to get stable. The sector has been going through a rough phase with inventories piling up and sales down. Declining consumer trust in the sector can be revived if developers exhibit appropriate construction progress in order to avoid fear of delays in completion. To counter sales developers have shown caution with controlled launches. However, if market trends were anticipated beforehand such moves should have happened earlier. Sales of residential units declined significantly over the last two years, particularly in the initial periods.

The number of units that are sold from both new and old projects every quarter form the sales rate, and from 14% in 1Q13 this has steadily declined to below 9% as of mid-2015, thereafter remaining stable at low levels, according to global property consultant JLL India. The report further added that the slowdown trend has been observed in seven leading metros with the situation particularly grim in markets such as Delhi-NCR, where the sales rate has declined by 10%. Despite a big fall in Pune, Hyderabad and Kolkata, the sales rates of these cities still remain in double-digits at 12-13%.

Mumbai’s fall was moderate, owing to low sales rate throughout the said period. Suvishesh Valsan, AVP – research & real estate intelligence service, JLL India lists out five broad factors that influence real estate markets, including country’s GDP and employment scene, credit availability, interest rates, housing supply dynamics and consumer confidence. These factors indicate the formula for revival could lie within the reach of builders and policymakers.

1. GDP and employment scene: In contrast to the housing sales rate, India’s GDP has been rising consistently over the last two years from 6.9% y-o-y growth in fiscal year 2013-14 to 7.3% in 2014-15, and is expected to be over 7.5% in 2015-16. Also, the monthly reports of leading recruitment firms in India suggest that hiring activity has picked up pace, particularly in the last year.
2. Credit availability: RBI data on the growth in home loans as well as the growth in credit to the construction sector (including loans to public housing agencies) reveals healthy credit offtake. Home loans have grown at a 17% y-o-y average over the last two years (until May 2015) whereas bank credit given to the construction sector grew at 22% y-o-y – one of the highest levels of all sectors.
3. Interest rates: CPI inflation has declined sharply by around 3% in the last two years and it now stands at 5% (as of May 2015), which is well within the comfort zone defined by the Reserve Bank. Consequently, the RBI has responded with three rate cuts (totalling 75 basis points) since the start of 2015, with a possibility of more rate cuts in the near-term.
4. Housing supply: Developers have consistently launched close to 60,000 units every quarter since 1Q13 despite the slowing demand. As a result, developers’ unsold stock has mounted, particularly in NCR-Delhi, Mumbai and Chennai.
5. Consumer confidence: With above factors portraying a positive picture for the economy, the influence on consumer confidence is positive. This is also borne out by various market reports. However, the rising consumer confidence has not translated into higher demand for apartments.

Real estate slowdown: Key points – Delhi-NCR, where the sales rate has declined by 10% – Pune, Hyderabad and Kolkata, the sales rates of these cities still remain in double-digits at 12-13% – Mumbai fall was moderate, owing to low sales rate throughout the said period. First Published on August 26, 2015 3:02 pm© The Indian Express Online Media Pvt Ltd

Real estate is second largest employer: Siddaramiah

http://www.siasat.com/news/real-estate-second-largest-employer-siddaramiah-819929/Real estate is second largest employer: Siddaramiah   

 Bengaluru: Real estate sector is the second-largest employer in India after agriculture and is slated to grow by more than 20 percent in the next decade, said Karnataka Chief Minister Siddaramiah on Saturday. “Real estate is the second most active sector attracting private equity investors in the last ten months,” he said at the seventh convention of the National Association of Realtors (NAR), touted as India’s biggest real estate convention.

 Zeroing in on the state, Siddaramiah said Bengaluru is the fastest growing city and top real estate market in India beating other big cities like Mumbai, Hydeabad, and National Capital Region (NCR). Leading real estate player Prestige Group’s chairman Irfan Razack said that the real estate industry played a pivotal role in bringing hundred of large global MNCs like Amazon, JP Morgan and many others to come and set up shop in Bengaluru.

Siddaramiah also said that while Bengaluru is known as the IT capital of India, this industry would not have grown without the important role played by the real estate industry. “Bengaluru consumes eight million square feet of real estate space every year and produces 80,000 jobs,” said Razack, adding that the government is the biggest beneficiary of the real estate growth in India as it earns a huge amount of revenue through stamp paper, registration, taxes and others. As many as 1,200 delegates from various nationalities attended the NAR – India to deliberate on the crucial issues pertaining to real estate.

 Realtors, developers, architects, lawyers, investors, venture capital firms, equity funds, chartered accountants, financial institutions, property valuers and others from across India participated in the event. “It (NAR – India) also helped create a platform for over 26,000 companies and 1.2 million members across the globe to network seamlessly and do business,” said its chairman Farook Mahmood.

Why real estate may not crash

http://wap.business-standard.com/article/opinion/bhupesh-bhandari-why-real-estate-may-not-crash-115073001745_1.html

Bhupesh Bhandari: Why real estate may not crash

 Of late, there has been much talk of an imminent crash in residential real estate. The sector is expected to crumble under the weight of high inventories. After the clampdown on black money, fresh sales have come to a halt. Thanks to low sales and the banks tightening the screws, builders are in a financial bind, which is expected to precipitate distress sales. One research house has predicted that this will shave sizeable percentage points off India's growth in the coming quarters. Actually, the sector has been stuck with high inventories and faced a liquidity crunch for at least two years now - and yet, prices haven't tumbled.

There has been some correction, but there is no evidence of a crash. That is because a sizeable number of builders are not highly leveraged, and can therefore afford to sit on unsold stock for some more time. This is how residential real estate works in India. The builder pays for the land and then sells the project. With the money paid by buyers, he carries out the construction. The only cost he has to pay out of his own pocket is the land. And if he is a serial builder, he will buy the land from the money he raised for earlier projects - there is no monitoring of these funds. In Noida, one of the real estate hotspots in the country, he needs to pay only 10 per cent upfront and the rest in installments over several years.

 Many builders who have not been able to sell apartments have simply halted construction, rather than take debt to complete their projects. A majority of projects are therefore behind schedule. Buyers are helpless. Some builders had offered to pay penalties in case of a delay, but the promise comes laden with so many riders that buyers seldom get paid. Those builders who are highly leveraged do indeed have a problem in their hands. While banks had turned their back on them long time ago, NBFCs and private lenders have also started to say no to them. Most of the builders in this category are those who are into commercial real estate as well, where pre-sale does not happen. Such projects are financed out of debt. With the debt tap turned off, and the equity market having tuned cold to real estate years ago, these builders are now desperate. Some large builders I know admit that they are inundated with requests from those in distress to buy their projects.

A Godrej Properties executive recently told Business Standard that his company has been approached by builders who are unable to complete their projects. But not all stuck projects will sell - those in the boondocks don't stand a chance. It is, after all, a buyer's market. Those who have the money will cherry-pick their projects. This might lead to a sea change in the country's real estate landscape. So far, large business houses have stayed away from it. The reasons are obvious: the cash transactions involved in the business, the headache of negotiating a plethora of rules in every market (every state has its own set of rules) and the never-ending speed money. But now they see an opportunity in the large number of projects that have got all clearances but are stuck because of the lack of funds. Trust in builders is really low amongst home buyers.

They are looking for projects that are backed by sound corporations. And that is where business houses like Tata, Godrej, Bharti and Mahindra have the opportunity. In spite of the crisis, the love affair of Indians with real estate is far from over. Projects at the right price (The euphoria over premium homes has died down: not a single premium project has been launched in Mumbai so far in 2015, says a report by Knight Frank!), and backed by respectable names, will still find buyers.

This trend was in evidence earlier this week when Eros, a fairly large builder, tied up with Bharti Realty for a large-sized project on the outskirts of Delhi. It is worth noting that Eros has already executed projects in that area but chose to partner with Bharti Realty for this one. This is a clear indication of things to come - expect more such announcements in the future. Will it mean lower prices for home buyers?

 That may not happen. This is because builders have sharply cut down new launches, and there is a slight uptake in demand. According to Knight Frank, in the second half of 2015, launches will be down 52 per cent (from 37,643 in the second half of 2014) to 18,000, while absorption will improve 24 per cent (from 12,075) to 15,000, which will cause the weighted average price to climb three per cent. The crash in home prices may not happen, after all.

Facility management market to cross $19 billion by 2020: Report

http://realty.economictimes.indiatimes.com/news/industry/facility-management-market-to-cross-19-billion-by-2020-report/48173841
Facility management market to cross $19 billion by 2020: Report

 GUWAHATI: The Indian facilities management market is estimated to grow 17 per cent to cross $19 billion mark over the next five years, says a report. "The swiftly growing services sector is creating huge potential for FM services, which is anticipated to grow at a CAGR of around 17 per cent during 2015-2020 and reach to approximately $19.4 billion by 2020," the report by Global Infrastructure Facilities and Project Managers Association (GIFPMA) said.

The report pointed out that various factors such as boom in real estate, increasing awareness levels, growth in retail and hospitality sectors are the major drivers of this sector. "In light of the immense growth potential that the sector promises, many players, including foreign players, have dotted the Indian market... India's service sector is the fastest growing part of its economy," the study said. As per the report, the overall services sector held 33.3 per cent of GDP (at current prices) in 1950-51 and it grew to 64.8 per cent in 2012-13. Commenting on the findings, GIFPMA President Amit Raual said: "Companies are increasingly concerned about the skills of the manpower provided by them with changing needs of the customer...

 It was also found that the qualification and the minimum salary of the manpower vary with the type of service to be offered." As per the report, with administrative and HR departments of around 300 companies across India, 87 per cent of the respondents expect knowledge of basic English, 87 per cent of them expect dress code and 73 per cent expect tidiness and basic etiquettes. "Almost 93 per cent of corporates are concerned about the police verification of the people deployed at sites," he added. Talking about the salary structure, Raual said it varies with the type of service to be offered, which is lower in soft services.

GIFPMA analysis highlights that soft services is dominating the market with the share of about 65 per cent, in which housekeeping and security occupy large shares of 45 per cent and 34 per cent respectively. "HVAC/Electro-mechanical is clearly dominating the hard services sector and is expected to occupy 90 per cent of the market in 2015," it added. As per the report's finding, more than 60 per cent of these services are performed in-house, but this trend is changing rapidly.

 "The corporate sector, especially IT/ITES, BPO/KPO and banking and finance sectors are rapidly inclining towards outsourcing the services," the study said. Research also found out that, currently 80 per cent of the services offered are on a sub-contractual basis, but it is expected that the trend will shift towards integrated facility management as organised players are entering the market.

Should You Buy A House Before Turning 30?

https://scripbox.com/blog/should-you-buy-a-house-before-turning-30/?utm_source=outbrain&utm_medium=contentmarketing&utm_campaign=outbrain_content_distribution_all_feed

Should You Buy A House Before Turning 30?

Many of you may have big dreams before you reach the age of 30, like clearing your debts, getting a promotion, getting married, owning a house, or start saving for an early retirement.
Take one step at a time to avoid getting flustered by the financial decisions you need to make before you turn 30.

A step forward in securing your future is to have a house of your own. To encourage people to invest in residential property, availing home loans is now easier, and the government also provides tax exemptions.

Here are 5 pointers that will help you make the decision of buying a house before you turn 30.
#1: Have clarity as to why you are buying a house
There could be many reasons why you want to buy a house, as a personal choice, as an investment, or out of social pressure.
Buying a house to live in – Most investors believe that you should, “own the house you stay in”. By the age of 30, if you are sure about the city you want to live in, your career path, your family plans, and your disposable income, buying a house is a possible option.
Here’s what you basically need to know to own the house you live in without getting into trouble:

• Affordability to pay at least 30% to 40% of the cost of the house as downpayment
• Clarity on the requirements based on your plans – where you want to live, how many years you wish to stay there and your future family plans
• Stable income to make repayments on the home loan

Buying a house as an investment – If you want to buy a house as an investment option, due diligence is required. You need to:

• Track the rate of price appreciation, and the worth of the property in the current market
• Consider additional costs of buying, owning and selling a house like interest, insurance and maintenance
• Your EMI should typically be not more than 40% of your take-home salary or income

Buying a house because of social pressure – Buying a house because of social pressure, because your parents, family or friends say so, is not a good idea. You need to be 100% certain on your intention to buy, and you should be clear on whether you can afford it. Without this conviction, you may have to compromise on your standard of living, lifestyle and be financially dependent.

#2: Buy a house based on your needs first, and then your budget
You are earning well and invest in a 1 BHK space that fits your budget. In the next 3 years, drastic changes happen; you get a promotion, get married and have a baby. You upgrade to a 2 BHK to accommodate changes. A few years later, your parents decide to live with you and you need to move closer to your child’s school. Moving to a 3 BHK is inevitable.

You realize that every time you moved, although you found a space at a good price, there were additional costs of 2% brokerage and 8% tax. This additional cost of 10% had created financial pressure and it could have been avoided had you planned ahead before closing on that 1 BHK.
When investing in a house, it is natural to check out the price first. While this is necessary, what is more important is to consider if the house meets your requirements. 

The house you choose should cater to your needs not only of today, but also of what you may require after 5 to 7 years. In this way you can avoid unnecessary costs, and benefit from eventually owning the house you live in.

#3: Take advantage of tax deductible options, on the interest of home loans
Under Section 80C of the Income Tax, here’s how you can save tax by claiming benefits on interest and principal repayment of your housing loan:

•  You can claim the entire amount up to Rs. 1,50,000 on interest paid on home loans
• Once you have paid your installments, you can claim deductions on principal repayments up to Rs. 1,00,000
• If you are married, take a joint home loan. This way, you and your spouse can claim deductions separately on interest paid and principal repayment. Which means, together both of you can claim Rs.3,00,000 in interest paid and Rs. 2,00,000 on principal repaid.

#4: Plan repayment with disciplined budgeting
It typically takes around 7 years for a person to repay a home loan in India. Assuming that your salary increases at around 12% per annum, and the EMI on your home loan is constant, only the first few years will be stretch. With disciplined budgeting it is possible to create a successful repayment plan.

• Best time to prepay home loan – In the first 2 to 3 years not only have you drawn on your savings to pay upfront for your home loan, your salary would not have increased and you have very little surplus for emergency needs. Prepayment is advised only after the 2nd or 3rd year when your cash flow pressures have reduced. You could open an Interest Saver’ account, where surplus can be kept while still being available during emergencies.
• Not so good time to prepay – Once your EMI / annual total interest is less than the tax benefit (INR 2 lakhs per year of interest and INR 1.5 lakhs per year for principal prepayment), then one can continue to maintain the loan for tax benefit. The surplus can be invested in financial assets if the expected return is greater than 10%.

For example, if you have a loan of INR 20 lakh, instead of pre-paying in the 1st year, it is better to pre-pay INR 1.5 lakhs each year (principal repayment, adjusted for principal portion of EMI) and take the tax benefit over a 3-4 year period. By pre-paying more than the principal repayment linked tax benefit you lose out on tax benefit.

#5: Be realistic about the returns you expect
Don’t get giddy when your friends say,” There is great wealth that can be made in property investment with the rate of appreciation.”

You need to understand that price appreciation depends on various factors such as location, quality of the construction, connectivity and upcoming infrastructure projects in the area.
The typical expected return on an apartment is about 10-12%, that’s around 8-10% on appreciation and 2-3% on rental. Keep in mind that, on a 12% rate of annual appreciation, if you change your house after the 3rd year, the impact cost will trim down nearly 1/3rd of your gain.

Remember, that you may not be able to have it all, but you need to start early, invest smart and work towards securing your future with proper financial planning.
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These 21 Images Of India Are Never Shown By Foreign Media

http://www.rajnikantvscidjokes.in/these-21-images-of-india-are-never-shown-by-foreign-media/

These 21 Images Of India Are Never Shown By Foreign Media

It’s no wonder that foreign media always puts allegations on India for being a poor country which has less signs of progress or improves very slowly due to corruption, poverty, violence and other issues. And this is what they show in their views about India. However, they must take a look at below 21 images which would surely give them a perfect counterblast in addition to displaying the India which is real but far above and beyond their imagination. What’s more, it’s so beautiful and elegant that they just can’t imagine even in dreams. Besides, once visited, these places will leave foreigners awestruck and mesmerized with their grace.
Let’s take a virtual tour around the marvelous sites:

1. Mumbai’s Chatrapati Shivaji International Airport

2. Ahmadabad’s Sabarmati Riverfront

3. Mumbai Skyline

4. Kerala – God’s Own Country

5. Bangalore – IT Capital of India

6. City of Dreams – Mumbai

7. Hyderabad’s Char Minar

8. Paradise on Earth – Kashmir 

9. City of Lakes – Udaipur

10. Lotus Temple – House Of Worship in New Delhi

11. Chennai’s Highways 

12. Pink City – Jaipur

13. Bandra-Worli Sea Link

14. Yamuna Express Way

15. Marina Beach in Chennai

16. Kolkata

17. Shimla – Summer Capital of British India

18. Republic Day Parade in New Delhi

19. Queen’s Necklace – Mumbai

20. Gangtok

21. Aizawl – Capital of Mizoram

Which of these places did you find most attractive? Don’t you think these images should be used to describe India in place of the one that demonstrate our country as the dwelling place of hungry and poor people? Aren’t these enough to shut the bloody mouth of foreign media which always puts a question mark on India with some issue or the other? Share your answers in your comments!
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