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.

Saturday, February 07, 2015

Last year in November there were media reports that Unitech Corporate Parks (UCP), the London listed Unitech group firm, had completed a deal to sell its stakes in six IT-SEZ projects in India to Canada's Brookfield Asset Management for £188.9 million (Rs.1785.50 Cr).

Unitech Ltd (Rs.16.85) currently has over 100 ongoing projects, totaling an area of 38.41 million sq ft. Its net debt stood at Rs.5,900 crore at the end of the first quarter of this fiscal. 

Last year in September, Unitech Ltd said it will sell non-core land parcels to reduce debt by 15-20% and improve cash-flows for faster execution of ongoing projects. UCP and Unitech were jointly developing five IT special economic zones (SEZs) and one IT Park in Gurgaon, Noida and Kolkata. In these six projects, UCP held 60% stake and Unitech 40%. That apart, Unitech had direct stake of about 13-14% in UCP.  

Unitech has a bank of 5,500 acres in Delhi-NCR, Chennai, Mohali, Kochi, Kolkata, Hyderabad and Bangalore. An earlier media report mentioned that the average cost of acquisition of the land was aground Rs.250 per square feet. This is one of the biggest strengths of the company. 

This move will significantly retire debt on the books of Unitech Ltd (Rs.16.85); but what is now needed is the revival of cash flow cycle. 


Meanwhile, India's benchmark bond yield ended down 2 basis points at 7.70 percent, as global oil prices remain low which would help keep domestic inflation lower. It means we might see, further cut in the Repo rates in the near future. 

In case interest rates fall further, the core real estate business of Unitech Ltd has the potential to grow better. Apart from land sale, the company also plans to monetise some commercial assets.

Moreover, Unitech Ltd has no economic interest in Unitech Wireless. Further, Unitech Ltd has no exposure whatsoever to the Telecom business.
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