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Locations which show affordability and future capital appreciation potential are preferred. According to a Jones Lang LaSalle Meghraj (JLLM) survey, the most viable cities in terms of residential investment potential currently are Gurgaon and Noida in Delhi NCR, Mumbai, Pune, Chennai and Hyderabad.

Abhishek Kiran Gupta, head-research, JLLM, says tier I cities are currently the most preferred residential investment options. "These have a multitude of diversified market drivers and huge latent demand due to inward migration and higher spending power. The preferences range from affordable options within closest proximity to traditional workplace hubs to rationally priced luxury housing at status address locations."

Besides the tier I cities, there are also some other cities that are gaining ground for investment purposes. Cities such as Bhubaneswar, Patna, Gwalior, Pune, Rudrapur and Nagpur are some examples. "These cities have several attractive features such as being IT, BPO, academic, pharmaceutical or financial and commercial hubs. Hence, a lot of people are migrating to these cities thereby adding to the demand for real estate," feels Rajeev Rai, VP (corporate), Assotech. The developer has residential housing projects in Delhi NCR.

Source: Economic Times Tier I Cities Most Preferred Residential Investment Options

Fed up of SMS ads offering the latest in real estate or promising to reduce power bills or the size of your waist? For now, you have no option but to keep hitting the delete button on your mobile phone.

A regulatory dichotomy involving the Telecom Regulatory Authority of India (Trai) and the department of telecommunications (DoT) is letting illegal advertisers trespass into consumers' mobile phones at will.

Trai says the penalties for violating laws against illegal telemarketing are not stringent enough to keep advertisers at bay. While DoT says it is "looking into the matter" of reinforcing Trai's powers, operators claim Trai is not even using whatever regulatory clout it has to check telemarketeers.

The regulator's unsolicited commercial communication norm makes it mandatory for every telemarketeer to register with DoT and upload its database of mobile phone numbers on www.ndncregistry.gov.in. An unregistered telemarketeer caught advertising will have its connection cancelled.

Trai also set up a National Do Not Call Registry (NDNCR) in 2007, allowing mobile phone users to request that their numbers be made unavailable to telemarketeers.

deepti.b@livemint.com

Source: Live Mint By Deepti Bhaskaran and Ishita Russell Why you will have to live with SMS ads

Many investors believe that equities are fraught with risk while real estate is completely risk free.The reality is a little more nuanced

It was a Sunday morning. Madhav, 40, and his friend Somesh, 39, were having a discussion on investment options.

Somesh was of the view that real estate is the best form of investment. He stated that it gives the family a sense of security, a place to live in, and can also provide rental income. In addition, he argued, one can enjoy the use of the property while its price appreciates. He further said that an investment in real estate is totally safe since the price of real estate never drops. Madhav did not agree entirely and hence called me to join the discussion.

Not a 100 per cent safe investment

"I agree that real estate has some advantages. But it is not true that it is a totally safe investment option or that its price never drops," I said. Like other assets, I said, real estate too witnesses bull and bear cycles.

However, since the price of our apartment, unlike that of stocks, is not reported in the newspapers, we are unaware of the day-to-day price fluctuations. Due to this lack of information one lives under the illusion that the price of real estate is stable or has moved up.It is only when one actually tries to sell a property that one discovers its true value.

Points to remember

• It is not true that real estate is a completely safe option or that its price never drops
  
• Like other investment options, real estate also witnesses bull and bear phases
  
• Regulatory changes, among other factors, could cause a precipitous decline in the price of real estate
  
• Stocks are liquid, you can purchase them in small amounts, and the transaction costs are low due to absence of stamp duty
  
• With the introduction of index funds and exchange traded funds, investing in equities has become a no-brainer activity

* Unforeseen risks in realty

Source: The Indian Express INVESTMENT PLANNING - REAL ESTATE OR EQUITIES?

Minister of State for Tourism Kumari Selja made the announcement at an International Buddhist Heritage Conference in Nalanda in Bihar.

According to a tourism ministry official, any tourist, domestic or international, can call the helpline for information about a place he or she intends to visit.

"They can also call the number when in distress or in an emergency," she said.

Selja added: "In December 2009, the foreign tourist arrivals in India saw a 21 percent increase over the same period in 2008. The future looks bright. We expect buoyancy to return to the sector soon."

In the absence of any law on compulsory disclosure norms, real estate developers are taking innocent home buyers for a ride with misleading advertisements. There's an urgent need for making disclosure norms mandatory so that buyers protect their most important investment in life

In an age of growing consumer consciousness, backed by teething laws, real estate continues to thrive as one of the most unorganised sectors taking the gullible consumers for a ride. It is not the case with just small-time developers duping home buyers with misleading advertisements and tall claims, but even the listed companies continue to operate as if their mandatory disclosure clause is applicable only with the financials of the company to the SEBI. The absence of any clear guidelines and disclosure norms leaves enough room for tall promises and dicey deals, and hence calls for a mandatory disclosure norms for the average property buyer and putting an end to misleading advertisements.

The number of pending cases against such misleading property deals has skyrocketed of late, even though many of the duped customers that The Indian Express spoke to, have not approached any court of law. Ramesh Chopra, a non-resident Indian, is one of them. He booked his apartment in Omaxe's The Forest Spa, situated in Sector 93B, Noida. The developer claimed that the project spread over an area of approx 8 acres, is strategically located in front of 325 acres of green forest.

However, according to the Noida Authority, the area marked as green belt is fixed as so for a limited period and thereafter the use of the land can change. When contacted, Rohtas Goel, CMD of Omaxe said "As per our understanding, if the government wants to deforest the land earmarked as city forest then the master plan has to be amended in consonance of that. The forest is as per the master plan of Noida."

Chopra's apartment actually fell far short of the dream home promised in the advertisement. Unfortunately, his is not the only such case. In the absence of any regulation for misleading advertisements, buyers are routinely promised the moon and then delivered sub-standard houses.

Buyers should also do a small market survey of the area before finalising the deal for purchase which would give them a better idea of the prices along with the facilities provided by the developer. Sanjay Sharma, MD of Qubrex, a real-estate brokerage firm, says, "While purchasing a property, buyers should also keep in mind the additional hidden costs involved in facilities like parking, maintenance, electricity, power back-up, membership of the club and pool, security, insurance, preferential location charges, super area versus carpet area etc. Such costs are usually not a part of the offer made by the developer and when added to the cost of the property, one may find oneself not benefiting from the scheme at all."

"In cases where genuine buyers are involved in a re-invented project, and they are unable to obtain a refund, legal recourse on the basis of the issued allotment letter is the only option," says Sharma.

praveen.singh @expressindia.com

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The move will de-stress students and bring parity with the CBSE and ICSE educational boards. The option will allow SSC students to choose five best subjects among the six which they can study and appear for the examination.

The Maharashtra State Board of Secondary and Higher Secondary Education's secretary TN Supe said, "The 'best of five' plan was approved at the meeting. But the government has invited suggestions and objections from the public." He said the proposal would get the final nod and be implemented from this academic year.

As per the proposal, one subject from mathematics, social sciences, science and Hindi will not be taken into account. English and Marathi are compulsory.

According to the 'best of five' system, the marks obtained by the student in his/ her top five scoring subjects would be considered, discounting the subject in which he/she has secured the lowest marks.

Source: dnaindia.com State govt clears best of 5 option for SSC students

PMC officials said that in the last two years, particularly when roads were being developed for the Commonwealth Youth Games, widening of at least 12 major roads was taken up

A day after the Bombay high court (HC) refused permission to the Pune Municipal Corporation (PMC) to cut trees for road widening until three times the number of trees are planted, the garden department has pulled up its socks.

Department officials are taking stock of the number of trees that have been felled for major road widening works in the last few years. Reminder letters have also been sent to the road department, asking it to provide plots for the planting of saplings wherever trees have been axed.

Speaking to TOI, PMC's assistant garden superintendent Ashok Ghorpade, however, insisted that it was a routine procedure followed by the department. "In some cases, plots were not provided to the garden department to plant saplings. The plots are to be identified by the road department. It is for such cases that we issue reminder notices," Ghorpade said.

Sources in the department, however, admitted that the action had been prompted by the Bombay high court's directive. "Following the HC order on Wednesday saying that trees should be cut only after planting of three saplings in exchange, we are making sure that the rule is followed in the past cases as well so that the PMC's record on this front is clean," an official said.

Source: Times Of India Provide land to plant trees, road dept told

Mumbai Beats All In Realty Price Rise

But other emerging residential destinations such as Hyderabad and Bangalore have witnessed a fall of 7.7 and 2.2 per cent, respectively, the index added. However, Pune market gained significantly by 9.9 per cent.

The survey revealed that all these five cities -- Delhi- NCR, Mumbai, Pune, Hyderabad and Bangalore -- witnessed a drop in property prices in the first six months -- January to June -- due to slump in the market. But the subsequent gain came following the launch of various affordable units. These units have now achieved premium value across India.

The study said property prices increased by another 12.8 per cent nation- wide during the surveyed period of 12 months.

Commenting on the price rise, Anupam Mittal, chairman and managing director ( CMD), Makaan. com, said, " Prices in Mumbai have gone up dramatically but it has not been able to touch the peak of mid- 2008.

source: Mail Today By Devesh Chandra Srivastava Mumbai beats all in realty price rise

Dnyaneshwar Bhalerao, chairman, standing committee, told reporters on Friday that a decision was taken to change the terms and conditions for the project at a meeting held to discuss the build, operate and transfer (BOT) projects of the PCMC.

Bhalerao said, "The PCMC wanted the whole city centre project for commercial purpose, but builders said that they should be permitted to use some space for residential use also. They said that the PCMC should not put conditions on land use and also expressed their inability to deposit Rs 100 crore, stating that the market conditions are bad."

Consequently, the PCMC has decided to reduce the deposit amount to Rs 50 crore, Bhalerao said. The civic body will hand over only that portion of land that has to be developed. The commercial space will be 50 per cent of the total area of the city centre project, while retail market will have 30 per cent space and office space will be 20 per cent.

Source: Times Of India PCMC to relax norms for city centre project

State revenue minister Narayan Rane said the recommendation will be tabled before the cabinet in the next three months.

More than 20 such recommendations and suggestions relating to the revenue department were listed for "immediate implementation" during a meeting of divisional commissioners and district collectors here, Rane told mediapersons on Friday. "A timebound programme is being initiated to frame the final proposals of these recommendations."

Rane said details like tax calculation and tax payment would be worked out soon. He claimed that the use of cybercafes and video theatres as well as of mobile caller tunes and mobile music was on the rise.

Other recommendations that were thrown up during the meeting included changes in the land acquisition process for fast approval and disbursement of compensation, changes in the talathi manual, conferring of additional powers to collectors and divisional commissioners, e-governance in every district in the state, and additional staff for handling the work of domicile and caste certificates.

Rane also urged the revenue officers to ensure an increase in per capita income, 100 per cent literacy, elimination of malnutrition and curbing corruption at work.

"The standing committee approved a hike of around 11 per cent which is half of that proposed by the civic administration," said Nilesh Nikam, chairman, standing committee. This would lead to additional revenue collection of Rs 181 crore against additional collection of Rs 379 crore as projected by the civic administration, he said.

However, Opposition parties BJP, Shiv Sena and MNS -have opposed the hike, saying it would burden tax payers and benefit tax evaders. "The PMC instead of improving its tax assessment and recovery system to increase the revenue collection through property tax has burdened the regular tax payers. There are many properties which are not in the ambit of property tax but continue to get the services without paying," said BJP leader Mukta Tilak.

Nikam justified the increase to manage the financial affairs of the civic body and development of the city.

The civic administration had proposed 20 per cent charge of annual ratable value (ARV) of property as against the existing 13 per cent, but the standing committee gave a nod to 16 per cent. Similarly, the water benefit tax was proposed to be five per cent instead of the existing two per cent. It will now be three per cent for 2010-11.

Source: The Indian Express Property tax up by 11 pc

In addition, the Chamber has also suggested that commercial banks be permitted to raise long-term bonds from NRI's say for a period of 10 years to garner funds for infrastructure sector.

Besides, it has also mooted a proposal to permit pension funds to invest upto 15 per cent of their funds in infrastructure projects as also suggested that refinancing of existing rupee loans through ECB be permitted for such projects based on interest cost advantage.

In a representation forwarded to the Finance Ministry, the Assocham president Swati Piramal emphasised that ECB usage should be permitted for utilisation against working capital and long-term financing of debts for infrastructure sector especially steel industry.

The debt for various industrial projects in India is currently met by Indian banks. Steel industry projects are typically large and are highly capital intensive and therefore require huge investments. Such projects have economic life of around 30-40 years, said Piramal.

Source: Realty Plus Allow re-finance of infrastructure debts through ECBs: Assocham

The worry for these companies, however, is the declining operating profit margin, the Business Standard has reported, citing analysts.

Real estate companies witnessed a decline of up to 42 per cent in these margins during the quarter, mainly due to a shift towards middle-income housing and adjustment for cost increases, analysts said.

To beat the slowdown in the property market, companies such as DLF, Unitech and HDIL, among others, shifted their focus from premium housing and commercial projects -- which carry margins of over 50 per cent -- to mid-income housing, where the margins are 20-30 per cent, the report added.

"In the third quarter of last fiscal, commercial sales were happening, as it was just the start of the slowdown. After that, developers have started focusing on mid-income housing which carried lower margins," said Param Desai, an analyst with Angel Broking.

Source: Realty Plus Recovery takes hold in realty sector

A good proportion of H1-B visa holders -- about 50,000 -- had their visas issued in 2002 and 2003. Come 2009, most of these visas (which are work permits issued for a fixed period), with a validity of six years, expired. The number of H1-B visa holders who have applied for jobs in India is now said to be between 15,000 and 20,000.

"A good number of those who went to the US after 1999-2000 have started returning. US President Barack Obama's posture has probably been one of the triggers. The reluctance to renew H1-B visas has also led to people deciding to return," said Kris Laxmikant, CEO and chairman of recruitment agency Headhunters India.

Many of the returnees have been sticking around for up to three months, vainly trying to secure a job, in a bid to extend their US stay long enough. But, in an insipid job market, a good number failed to find jobs and were forced to return, HR executives said.

Source: Business-standard NRI Resumes Pile Up At Indian Human Resources (HR) Firms

"The BRTS project will create a dedicated bus lane only on 40 per cent of the route," said Srinivas Bonala, PMC Traffic Planner. He said that this was the plan from the beginning, but the public had misunderstood that dedicated bus lanes would be there throughout the stretch, even on congested roads.

Traffic activist Sujit Patwardhan said it was only recently announced by the PMC that 40 per cent of the BRTS route would have a dedicated bus lane. "It is fraudulent to have a mere 40 per cent of the dedicated lane in the name of BRTS. Thus, most of it is mere widening of the road," he said. Patwardhan said that the PMC was only keen on receiving funds under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), and not in proper implementation of the BRTS.

"As per the plan, the PMC will erect barricades in the middle of some roads for the bus lane while the rest of the routes will not have any barricades," Bonala said.

This is because many roads are not wide enough to have dedicated bus lanes. "Amenities such as cycle track and footpath will be given priority, but in some places due to the lack of space, this would not be possible," he said.

Source: The Indian Express Civic body disappoints public, only 40% of BRTS for bus lane