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Wednesday, June 9, 2010
MUMBAI REDEVELOPMENT FUND – Update
Real estate developers in Mumbai are preparing to bid for several redevelopment schemes that the Maharashtra government is planning in the city.
Top developers such as Unitech Ltd, DB Realty Ltd, Ackruti City Ltd and Orbit Corp. Ltd are eyeing the projects, which typically do not need much capital but fetch high returns.
The state government wants to build one million budget homes over the next few years, mostly with private developers and primarily through redevelopment schemes. This will involve removing slums and pulling down old, dilapidated buildings mostly to make way for glitzy skyscrapers, while rehousing the displaced people in new buildings alongside.
"There are about 20 more redevelopment schemes which the government is planning to launch in central and south Mumbai (both prime locations) in addition to the existing ones," Sachin Ahir, state housing minister, told Minton Tuesday. "In south Mumbai alone, about 100 acres of land will be available, which is a big opportunity because there is hardly any free land in such prime areas."
Property costs in central Mumbai areas such as Lower Parel and Parel hover at Rs18,000-22,000 per sq. ft, depending on the project. In south Mumbai, the rates run up to about Rs50,000 per sq. ft.
The developers don't just get access to prime land, they are also given additional construction rights, or FSI (floor space index), as an incentive to take up the projects.
"The benefits are many. The project locations are prime, developers get more FSI and are not risky because of the longer gestation period," said Ashutosh Limaye, associate director, strategic consulting, Jones Lang La Salle Meghraj, a property advisory.
It is difficult to estimate the total investment in these projects but property analysts say the future of the Mumbai real estate market largely rests on redevelopment.
Brokerage Anand Rathi Financial Services Ltd says in a March report that Unitech, the country's second-largest developer, expects to construct four to five million sq. ft of space in Mumbai every year—all of it in redevelopment.
Unitech has invested around Rs850 crore in joint ventures for redevelopment projects in the city and will invest another Rs200 crore, Anand Rathi said.
In return, the firm will get five million sq. ft of "free sale" space, which the management expects will add 20-25% to Unitech's revenue over two years, the brokerage said.Thursday, June 3, 2010
MF: Monthly Income Scheme Performance
Scheme | Corpus | Nav | |||
| Reliance - MIP (G) | 4190.43 | 20.48 | 14.74 | 19.12 | 14.43 |
| Birla SL - MIP II Savings 5 Plan (G) | 1819.05 | 16.65 | 6.53 | 13.05 | 12.04 |
| HDFC - MIP LTP (G) | 5469.1 | 21.44 | 15.15 | 15.09 | 11.95 |
| L&T - MIP Reg Cum Plan | 31.16 | 18.87 | 7.64 | 5.16 | 11.92 |
| CAN - Robeco MIP (G) | 214.13 | 27.92 | 8.81 | 13.29 | 11.74 |
What is a Monthly Income Plan (MIP) mutual fund?
Primarily, MIP of mutual fund is a debt-oriented scheme that generally invests up to 75-80 % of its corpus in debt instruments and the remaining in equity instruments.
Return: MIPs aim to provide steady returns with limited volatility. In the past 3 years, most MIPs have provided average returns in the range of 12-13%.
Tenure: MIPs are ideal for investment horizon of 2-3 years.
Taxability: MIPs being debt mutual funds, a dividend distribution tax (DDT) of 12.867 % is levied.
If you sell the fund units before a year and there is a gain, short-term capital gains (STCG) tax is applicable - the net gain will be added to current taxable income and tax will be levied as per your personal income tax slab. If you sell units after a year and there is a gain, a long-term capital gains (LTCG) tax is applicable - 10 % tax will be levied (without indexation benefit) or 20 %tax with indexation benefit, whichever is lower.
Who should invest?
Conservative investors who are looking for better returns than bank FDs, mutual fund MIP could be a good option. Although monthly returns cannot be guaranteed, one can bank on them for a steady income.
Tuesday, May 18, 2010
Top 5 Diversified Mutualfunds Longterm Performance
| Fund Name | 1-Y | 3-Y | 5-Y | 7-Y |
| Top 5 Diversified Mutualfunds Longterm Performance in | Return (%) | Return (%) | Return (%) | Return (%) |
| DSPBR Equity | 67.47 | 15.03 | 29.26 | 40.13 |
| HDFC Top 200 | 59.32 | 16.75 | 28.46 | 38.14 |
| HDFC Equity | 76.83 | 15.91 | 28.42 | 38.13 |
| ICICI Prudential Dynamic | 60.47 | 11.4 | 28.07 | 35.97 |
| DSPBR Top 100 Equity Reg | 48.57 | 12.9 | 27.86 | 35.56 |
Wednesday, April 14, 2010
Mutual Funds: New Fund Offers
| New Fund Offer | |||||
| Scheme Name | Type | Open Date | Close Date | Minimum Investment Amount (Rs.) | Category |
| DWS Global Agribusiness Offshore(G) | Equity | 06-Apr-10 | 30-Apr-10 | 5000 | FOF - Overseas |
| IDFC Nifty Fund(G) | Equity | 12-Apr-10 | 23-Apr-10 | 500 | Equity - Nifty Linked Index |
| Reliance FHF- XIV-9-Ret(G) | Debt | 07-Apr-10 | 15-Apr-10 | 5000 | Fixed Maturity Plans |
| Religare MIP (G) | Hybrid | 12-Apr-10 | 11-May-10 | 5000 | Monthly Income Plans |
| Kotak Credit Opp(G) | Debt | 12-Apr-10 | 30-Apr-10 | 5000 | Long Term Income |
| Religare MIP Plus(G) | Hybrid | 12-Apr-10 | 11-May-10 | 5000 | Monthly Income Plans |
Source: ACE MF
Sunday, March 28, 2010
Current Mutual Fund Dividends
| Dividends | ||
| Scheme Name | Record Date | Gross |
| Birla SL Monthly Income(QD) | 30-Mar-10 | 1.78 |
| Sundaram BNPP Balanced(D) | 30-Mar-10 | 45.00 |
| Reliance Reg Savings-Balanced(D) | 30-Mar-10 | 25.00 |
| Reliance Diver Power Sector-Inst(D) | 30-Mar-10 | 25.00 |
| Reliance Vision-Inst(D) | 30-Mar-10 | 25.00 |
| Reliance Vision-Ret(D) | 30-Mar-10 | 25.00 |
| Reliance Growth-Inst(D) | 30-Mar-10 | 25.00 |
| Reliance Growth-Ret(D) | 30-Mar-10 | 25.00 |
| Reliance Diver Power Sector-Ret(D) | 30-Mar-10 | 25.00 |
| IDFC Premier Equity-B(D) | 29-Mar-10 | 20.00 |
| IDFC Premier Equity-A(D) | 29-Mar-10 | 24.00 |
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