realacres

There is no imagination. As said before, Rajiv Gandhi is on list of chaps who have swiss accounts. Hence, congress to willing to disclose the names.
The local chap (some Ali) in Pune who too has over $ 8bn is close to Bobada Pawar.

The owner of Lokmat Press, Darda who is a Congressman, has his Swiss bank a/c as well. He was close to CM Vasantrao Naik & he transferred CMs money to his account & when the CM came to know about this, he died of heart attack .

Now has this Darda chap been convicted?? One chap is MLA & other RS MP, both on Congress tickets.

Ashok Chavan was kicked out not due to Aadarsh scam but by Vilasrao & Bobada Pawar...& Chagan Bhujbal went for toss for no reason . During this time, Rane had offered Sonia Maino over INR 500 Cr so that he can become CM. When Vilasrao was CM, he had paid about INR 470 Cr + monthly kickbacks to 10 Janpath. The Pune builder Paranjape is close to Vilasrao too.

Issue is some of the behind the curtain scams are so huge that mango man simply can't believe.

If what one is claiming against Gandhi & Co. why don't they file defamation suit then?? When an airport personnel mispronounced Priyanka Vadra (daughter of Maino) at IGI Airport, he was suspended . It was then when union came in his support + opposition parties making issue of this that he was reinstated.

So, when name change can give headache, why no defamation suit then?? It is just that Maino & Co. know that if they come to spotlight, they will be finished.

Even Raul/Rahul Gandhi acts as an agent between some businessmen based in Dubai & Europe & has his bank accounts in Hong Kong.

Man, Sharad Pawar doesn't own a car, Sonia Manio doesn't have a house in India (seems she should apply for Indira Gandhi Awaas Yojana ) but she has renovated her house in Italy....what does this indicate?? If they have few lakhs with them as shown to EC (Election Comm), then how did they spend crores buying properties abroad?? Pawar has properties in California, US, London, UK as well as Malaysia. His chamchas have interests in South Africa, Australia & Abu Dhabi.

Anyways, will not deviate further from this RE topic, but man, when in first I started coming to know about such scams, I too was shocked, but now even scam of 1000-5000 Cr seems peanuts after hearing so many news, many of which have not even been posted here.

Don't know what is in store for us, if such cases continue.

* PS:- Few thousand Crores have went down the drain in NREGA schemes while 22,000+ Cr have been gobbled up when over 60,000 Cr were given to farmers, large part of the share taken by Congress at centre & NCP in state .

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realacres

Interest rates on home loans into double digits - Money - DNA

One-year fixed deposits begin to offer double-digit returns again

BankRecent hike in FD rates:-

Lakshmi Vilas BankUp to 175 bps
IDBI BankUp to 100 bps
Union Bank of IndiaUp to 150 bps
Kotak Mahindra BankUp to 50 bps
Dhanlaxmi BankUp to 50 bps

One-year fixed deposits begin to offer double-digit returns again - Money - DNA

>> It just shows how FD (cash) now looks very attractive compared to RE. Home loan interest rates are already in double digits while RBI has said that another rate hike is on cards.

* PS:- Remember the theoretical chap Montek Singh Ahluwalia who alongwith Pranab M, the finance minister said:- " Inflation will be under 5.5% by Sep 10". Seems they too are acting like builders while giving dates .

realacres

Another clear indication that RE sales are not taking place as earlier.

The lukewarm response to the real estate market amid skyrocketing prices has resulted in a 50% drop in new housing project proposals in the city in the past year.

Housing project proposals witness 50% drop in Mumbai - Money - DNA

Btw, in Mumbai, the FSI for suburbs has been rolled back again to 1 which was hiked to 1.33 when Vilasrao Deshmukh was CM. The BMC says that the infra is not capable of handling such load & this FSI is not in accordance with the DP.

To make matters worse for the builders, the rate of FSI has dipped from INR 4500/sq ft earlier to INR 1500/sq ft now. So, those who purchased TDR at 4500 levels are now stuck with big losses.

Srinidhi

Real ,

I read in some magazines that Banks have increased rates only for medium term (1-2 years) and not for longer term(3+ years).5 year Fds are still giving lower return than 1+ year deposit .Do you have any idea why are they not giving higher rates for long term deposit ? Are they expecting inflation to come down in near term or they expect even bigger problems like 2008?

Thanks

realacres

Now one builder gets arrested by CBI. What next? Chandra of Unitech??

2G scam: CBI arrests DB Realty promoter Balwa - Latest Current-affairs News

Man, it seems the 2G is going to hit these builder hard as they not only have to face loans expiring on 31 st Mar 11 but also telecom ministry.

Anyways, I have latest update about Pune RE ground reality. Will post it in a day here.

realacres

Datawatch: Realty index collapses 7% in 2-days - Moneycontrol.com -

realacres

The reason for this is that banks don't want to commit higher rate of interests for long terms as such situations can't be predicted clearly. Eg. No one in 2005 could say that situation in global economy will be bad in 2008 due to US financial crisis. So, banks keep their risks minimum as far as possible & hence lesser rates on longer duration. Even rate of interest on FDs of over 1 Cr is less, so people do FDs of 50L, 50L in 2 different banks than single FD of 1 Cr.

For the buyers too it is good in one way as you get more interest for lesser time duration & you can either use this money later for consumption or reinvest it again & if FD returns are good, make yet another FD.

* PS:- If you make FD for senior citizen, the returns are more as interest rates for them are more by atleast 25 bps or 0.25%/annum.

realacres

Nice article which shows how builders are getting hammered into the wall & how coming days for builders will be bad due to multiple factors as discussed. For complete story, click here:-

Wringing times for realty developers

khbarilal

The future interest rates are predicted by using Yield curve. It’s a graph which shows Maturity Vs Interest rate. Constructing a yield curve is very complex process, any way it’s a know fact that interest rate will not remain high forever. It will keep fluctuating up & down. If the interest rate expectation for near term(1-2 years) is high the yield curve will go up, if after say 2years the expectations are low the yield curve will go down. When yield curve goes down bingo !!!!!!!, it’s a point of recession & the shape of yield curve is described as humped yield curve.

The reason behind bank’s raising interest rate for 1-2 years is that they are expecting interest rate will fall again after 1-2 years, means in 1-2 year bingo!!!!!.

Sharpj

2G scam: ?Minister asked I-T to go slow on DB-DMK TV link' - The Times of India

Any idea Who could be this minister? Sounds like Praful Patel.. he was minister of state then..