Discrimination faced by Mumbaikars...

If the housing societies in Mumbai (Bombay) are only meant for families (married couples), then the government of Maharashtra should make marriage compulsory in the state/city.
Or else the government should tell its citizens where will Unmarried, Divorcees, Bachelors, Spinsters live in the city of skyscrapers or is Bombay only for those who have families.
This is one of the greatest mental blocks of Mumbaikars, who otherwise want to bask in the FALSE HALO of Cosmopolitanism.
This disease (of not giving apartments to Bachelors, Muslims, etc on rent) is specially prevalent in housing societies where the Gujaratis, Marathis and North Indians (to some extent) abound; while the rest of the population is more or less okay with the concept.
The government of Maharashtra should take this matter seriously and devise laws to eradicate this malice ASAP, so that BOMBAY (and its suburbs) becomes free of discrimination based on Marital Status, Religion, etc. Or else the Honourable Supreme Court of India should step in, and give directions to the state or central governments -- so that the fundamental rights of its citizens enshrined in the constitution of India is not violated.

Monday, August 26, 2013

WINNING STROKES: THINK DIFFERENT
Manappuram Finance Ltd hits another buyer freeze in the opening trade. The scirp got locked at the UC at Rs.16.05. The stock was repeatedly recommended last week, as a must buy. Gold prices would continue to remain buoyant in the Indian markets, due to import restrictions. Meanwhile, Shri V.P.Nandakumar, Managing Director & CEO said, that the changes in lending policies introduced by the RBI will strengthen the NBFC sector in the long run. Also, the company announced the following news yesterday: Manappuram Finance Limited has submitted to the Exchange a copy of the disclosure under Regulation 13(4) of SEBI (Prohibition of Insider Trading) Regulations, 1992 in relation to the purchase of 2, 52,000 equity shares of the Company by Mr. I Unnikrishnan, Executie Director and Dy. Chief Executive Officer of the Company, and 6,000 equity shares purchased by Mrs. Sathialekshmi. M jointly with Mr. I Unnikrishnan. (Source MSE).
The Nifty_Futures moved to 5526.75, after a buy was given on it with a target of 5530. The Nifty_Futures is expected to try crossing 5620 once again this week. 
MCX Ltd hit the buyer freeze in the opening phase. Those who have not exited the scrip, and have taken fresh position after it was again recommended in Facebook at around Rs.272, can continue to hold the scrip, with a SL at Rs.287. The stock closed at Rs.306.90, in the BSE.
B F Utility Ltd touched Rs.137 today, while BHEL touched Rs.124.65 (Recommended at Rs.120) and L &T touched Rs.759.75 (Recommended at Rs.743.95), after they were recommended  in the Premium Blog today. B F Utility Ltd closed at Rs.134, after it broke out last week, from the existing trend. The new government in Karnataka is positive for the company. B F Utility Ltd gets a good portion of its revenue from the wind power. CLICK HERE.

Easier exit window for foreign investors in infrastructure projects
NEW DELHI: The government is planning to a give easier exit window to foreign investors in construction, housing and township projects, hoping to spur greater equity inflow into the debt burdened sector and help faster completion of delayed projects.

The measures are continuation of the government's ongoing drive to make FDI policy more attractive. Under the current rules, 100% FDI is allowed in the construction, housing and township but subject to a threeyear lock-in, a condition that was imposed to ensure speculative money does not flow into real estate but has also had the unintended consequence of stifling genuine investments.

The sector attracted $1.3 billion FDI in 2012-13, down 58% from $3.1 billion in 2011-12. The department of Industrial policy and promotion (DIPP) is now mulling allowing foreign investor to exit after completion of the project or three years, whichever is earlier, as proposed by the ministry of housing and urban poverty alleviation (MHUPA).

Most housing projects are running one to two years late because of slowdown and shortage of funds because of elevated debt levels.

"Though DIPP is yet to finalise on the relaxation in FDI conditions, but the exit window to developers after project completion seems suitable. However, greater clarity would be needed on the definition of completion," said a government official in privy of the matter.

"Providing an exit door to the foreign investor on project completion before 3 years will be a good sign. This would make entry and exit simpler like it is in other countries. But I am doubtful if it will lead to an immediate dollar inflow", said Anshuman

Magazine, CMD, CBRE, an international real estate consultancy firm. However, industry feels there should not be any exit clause. "Most townships or housing projects take more than 3 years to construct anyways. What difference will the exit on completion make? A foreign investor should be allowed to exit whenever it wants, as per the agreement between him and the Indian player", said RR Singh, director general, National real estate development council.

The other changes under consideration include reducing the minimum capitalization of the eligible construction project in which FDI can come in to $ 5 million against $ 10 million presently for wholly owned subsidiaries and from $5 million to $2.5 million for joint ventures with Indian partners.

MHUPA has also asked for a reduction in the minimum built up area from 50,000 sq mt to 20,000 sq mt. However in case of serviced housing plots, minimum land area may remain the same at 10 hectares.

DIPP is looking into all these but is opposed some of the more liberal proposals like the urban development ministry's suggestion foreign investors be allowed to purchase land and other immovable assets for construction purpose. "This is nearly the same as saying allowing FDI in real estate business, which is not permitted", said the official.

Urban development ministry has also recommended that foreign investment up to 49% be free from any entry condition to attract foreign capital providers that do not have long-term interest in construction assets.

CourtesyThe Economic Times