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Mumbai’s new TDR policy : What is?

Mumbai’s new TDR policy : What is?

 

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Mumbai has a new Transfer of Development Rights (TDR) policy that is linked to the width of the road beside the project’s site. As per the new policy, projects on roads that are less than nine metres, will be granted no TDR benefit, while projects on roads over 30 metres wide, will get FSI of 2.5. New TDR policy: How it affects Mumbai’s real estate market The modified policy allows buying/selling of TDR across the city. Earlier, the TDR could only be sold to developments north of where it was originally generated.

 

It will also allow developers to load additional FSI to developments, in areas where the demand is high. Furthermore, a developer can generate cash flows, by transferring the development rights to a potentially larger market. “As it will take time for additional TDR to be generated from this policy, it may lead to a short-term increase in the prices of TDR that is already available for purchase.

 

The purpose of TDR is to provide a certain amount of additional built-up area, in return for the area surrendered by the land owner. Developers, hence, are disappointed with the lack of additional construction benefits, for projects located near roads with a width of less than nine metres. This new policy will only benefit big developers, who are building projects along wider roads, they opine.

L&T bags Rs 1,926 cr projects in various business segments

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Engineering major Larsen & Toubro (L&T) today said its construction arm has bagged projects worth Rs 1,926 crore across various business verticals. In the power transmission and distribution segment, it bagged orders worth Rs 571 crore. The business continued its winning streak by garnering electrification work orders under the Integrated Power Development Scheme (IPDS) and Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY) schemes of the government, it said. A major order has been bagged from Odisha Power Transmission Corporation Ltd (OPTCL) for turnkey electrification works in five circles of the WESCO utility area in Odisha.

 

Another order from Madhyanchal Vidyut Vitaran Nigam Ltd. (MVVNL), Lucknow, is for electrification works in the three tehsils of Unnao district in the state of Uttar Pradesh. Furthermore, the business has won orders from reputed customers for turnkey construction of solar PV plants in Uttarakhand and Rajasthan.

 

In building and factories vertical, it bagged an order worth Rs 514 crore for the construction of a medical college and a 500-bed hospital from Bihar Medical Services & Infrastructure Corporation Ltd, Bihar. The scope of the work includes civil, and external development.

निफ्टी 7950 के आसपास, सेंसेक्स 0.25% मजबूत

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बाजार में आज भी उतार-चढ़ाव के साथ कारोबार देखने को मिल रहा है, लेकिन राहत की बात ये है कि अब भी बढ़त बरकरार है। हालांकि दिन के ऊपरी स्तरों से बाजारों ने अपनी अच्छी खासी बढ़त जरूर गंवाई है। दिन के ऊपरी स्तरों से सेंसेक्स 200 अंकों से ज्यादा गिरा है, जबकि निफ्टी 50 अंकों से ज्यादा की तेजी गंवाई है। सेंसेक्स और निफ्टी में 0.25 फीसदी की बढ़त के साथ कारोबार नजर आ रहा है। इस समय निफ्टी 7950 के आसपास है, जबकि सेंसेक्स 25800 के आसपास है।

मिडकैप शेयरों में भी खरीदारी दिख रही है, लेकिन स्मॉलकैप शेयरों की चाल सुस्त है। बीएसई का मिडकैप इंडेक्स 0.3 फीसदी तक बढ़ा, जबकि निफ्टी का मिडकैप 100 इंडेक्स 0.4 फीसदी की मजबूती दिखा रहा है। बीएसई का स्मॉलकैप इंडेक्स सपाट नजर आ रहा है।

Reliance MF to Manage Goldman Sachs MF’s Schemes from Nov 5

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Reliance Nippon Life Asset Management will manage all the schemes of Goldman Sachs Mutual Fund from November 5. Reliance Nippon Life Asset Management, in October 2015, announced takeover of global giant Goldman Sachs Mutual Fund business in India for Rs 243 crore in an all-cash deal. Goldman Sachs MF has 12 schemes in operation and will transfer them to Reliance MF.
“Unitholders are requested to note that on and from November 5, 2016, the right to manage and administer all the schemes of Goldman Sachs MF will be transferred from Goldman Sachs Asset Management (India) Pvt Ltd to Reliance Nippon Life Asset Management, the asset management company of Reliance MF,” Goldman Sachs MF said in a notice.
All the schemes of Goldman Sachs MF will also become an integral part of Reliance MF, it added.
In a circular, BSE said name of eight schemes — Goldman Sachs Gold Exchange Traded, Goldman Sachs Nifty Exchange Traded, Goldman Sachs Banking Index Exchange Traded, Goldman Sachs Liquid Exchange Traded, Goldman Sachs Nifty Junior Exchange Traded, Goldman Sachs PSU Bank Exchange Traded, Goldman Sachs Hang Seng Exchange Traded and Goldman Sachs CNX Nifty Shariah Index Exchange Traded — will also be changed. However, there is no revision in scheme name of CPSE ETF .

SBI to Install 7,070 more ATMs worth Rs.334 crore in India –

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In an ambitious expansion plan involving its ATM network, the State Bank Of India will install 7,070 NCR SelfServ 22e Automated Teller Machines across India over the next seven years, an official said here on Wednesday. This mega-order for ATMs will be implemented by NCR Corporation, the global player in omni-channel solutions based in Duluth, Georgia, in the US.
It is billed as the company’s single-largest order in India worth Rs 334 crore ($50 million). Each of these upcoming ATMs shall be equipped with the latest anti-fraud security solutions to help expand the SBI’s reach within the country and achieve its financial inclusion goals.
“This will strengthen our ATM channel network of more than 57,000 ATMS in the country,” said SBI’s Deputy Managing Director and CIO Mrutyunjay Mahapatra. NCR machines are already deployed at around half of these ATMs at 4,500 locations in India. NCR India Managing Director Navroze Dastur said ATMs are increasingly becoming a global target for crime.

Wall Street Slips on Earnings

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US stocks slipped from two-week highs on Tuesday as results and forecasts from companies in sectors including housing and consumer products failed to live up to expectations. Apple, the largest US company by market capitalization, posted after the bell better-than-expected iPhone sales that however continued a declining trend and shares fell about 2 percent, briefly dragging S&P 500 futures to session lows.
During the regular session, Whirlpool , down 10.8 percent to USD 152.09, cited soft demand as it posted lower-than-expected earnings and gave an underwhelming forecast. Sherwin Williams’ outlook also disappointed Wall Street and shares fell 10.9 percent to USD 247.61.
Both were an indication to some analysts that the housing sector may be cooling. “Lackluster results from Whirlpool and Sherwin Williams may indicate a slowing in the housing cycle,” said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.
She said those results could be weighing on Home Depot , which was down 3.5 percent at USD 123.34 as the largest points decliner on the S&P 500. Lowes Cos fell 3.5 percent to USD 68.47.

कच्चे तेल में तेजी जारी, सोना टूटा

कच्चे तेल में तेजी का सिलसिला जारी है। यूएस क्रूड में उछाल देखनें को मिला है और ब्रेंट 50 डॉलर के पार चला गया है। ब्रेंट ने जून के बाद पहली बार 50 डॉलर का स्तर पार किया है। हालांकि सोना एक बार फिर नीचे फिसल गया है और कल के कारोबार में ये 1254 डॉलर पर बंद हुआ था।

  •  कच्चा तेल एमसीएक्स: खरीदें – 3312, स्टॉपलॉस – 3312 लक्ष्य – 3440.
  • जिंक एमसीएक्स: खरीदें, स्टॉपलॉस – 153.80 लक्ष्य – 156.

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Gold Heads For Worst Weekly Dip Since November 2015

Gold snapped an eight-session losing streak early on Friday, edging up from four-month lows on bargain hunting, but was headed for its worst weekly dip in nearly a year on increased expectations of a U.S. rate rise by year end.

            FUNDAMENTALS

* Spot gold <XAU=> was up 0.2 percent at $1,256.36 an ounce by 0106 GMT, after falling for eight straight sessions. The yellow metal touched a four-month low of $1,249.68 in the prior session.

* Bullion was on track for its second weekly loss of nearly 5 percent, its weakest since November 2015.

* U.S. gold futures <GCcv1> rose 0.5 percent to $1,258.90 an ounce.
* Gold prices could pull back to as low as $1,200 an ounce after breaking out of their 2016 uptrend this week, according to analysts who study past price patterns to determine future direction.

* Goldman Sachs said reaction of gold prices has been larger than anticipated, leaving risks surrounding its year end forecast of $1,280 per ounce as moderately skewed to the downside.

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