Sunday 31 January 2016

HUDCO raises Rs 1,711 crore via tax free bonds


NEW DELHI: State-owned HUDCO has raised Rs 1,711 crore through tax free bonds and the fund would be utilised mainly to finance projects related to housing for EWS/LIG categories.

Housing and Urban Development Corporation (HUDCO)'s issue of tax free bonds, launched on January 27, was oversubscribed 3.64 times with subscription worth Rs 6,233 crore.

"We have raised Rs 1,711 crore through tax free bonds. We got an overwhelming response. All the four categories QIB, Corporates, HNIs and retail -- were subscribed," a company official said.

HUDCO has raised Rs 3,000 crore so far this fiscal. It had earlier raised Rs 1,288.50 crore through private placement of bonds.

The company has the permission to raise up to Rs 5,000 crore in this fiscal through this route.

HUDCO had hit the market last week with an issue of tax free bonds with a face value of Rs 1,000 each in the nature of tax free, secured, redeemable, non-convertible debentures, aggregating to Rs 500 crore, with an option to retain over- subscription up to Rs 1,211.50 crore, aggregating up to Rs 1,711.5 crore.

The issue closed on January 28. It was scheduled to close on February 10. Bonds are proposed to be listed on BSE.

The funds raised through the issue will be utilised to finance the projects and activities mainly relating to housing for EWS/LIG categories during the current year and over the years and for such other purposes as may be permitted by Ministry of Finance or any other authority, from time to time.

For QIBs, corporates and HNIs, the bonds carry interest at the coupon rate of 7.02 per cent per annum and 7.39 per cent per annum, for a tenor of 10 years and 15 years, respectively.

For retail individual investors investing up to Rs 10 lakh, the bonds carry interest at the coupon rate of 7.27 per cent per annum and 7.64 per cent per annum, for a tenor of 10 years and 15 years, respectively.

HUDCO is a techno-financial institution engaged in the financing and promotion of housing and urban infrastructure projects throughout the country.

SOURCE: ETRealty.com

Thursday 28 January 2016

Land for CRPF housing, CISF training base in Gzb cleared


NEW DELHI: The Union urban development ministry on Wednesday approved allotment of three land parcels in Delhi and Ghaziabad to build a community centre, houses for security personnel and a facility to train them.
According to sources, urban development minister M Venkaiah Naidu cleared the allotment of 1.05 acres in Push Vihar in Saket for the construction of a community centre. The area has 8,000 government houses and the demand of a community centre had been pending for long. The proposal was forwarded by the South Delhi Municipal Corporation.
Naidu also approved allotment of 37 acres in Kamla Nehru Nagar area in Ghaziabad for housing needs of CRPF personnel deployed in Parliament. "There will be family accommodation for central armed police forces. The ministry of home affairs had submitted this proposal considering the increasing security concern," said an official.
The third land parcel measuring 25 acres has also been allotted in Ghaziabad for the benefit of Central Industrial Security Force (CISF) personnel deployed in Delhi Metro and to guard the Samadhi Sthal. Five battalions of CISF personnel are deployed for Metro operations in NCR. This land will be utilised for training facilities, building bunkers, quarters and will also have a mess.
SOURCE: ETRealty.com

20 SMART CITIES DECLARED IN PHASE 1



     In an exclusive press conference held at New Delhi, chaired by the Minister of Urban Development Shri M. Venkaiah Naidu, 20 urban areas of the country have been declared to be revamped into future Smart Cities. Out of the 98 cities declared back on 25th June, 2015, 97 cities had made it to the ‘Smart City Challenge Mission’ out which 20 have been finally chosen in its phase 1. 
 
On the basis of the ‘marks’ achieved, 20 declared cities in the descending order are as follows:
Ø  Bhubaneshwar, Odisha
Ø  Pune, Maharashtra
Ø  Jaipur, Rajasthan
Ø  Surat, Gujarat
Ø  Kochi, Kerala
Ø  Ahmedabad, Gujarat
Ø  Jabalpur, Madhya Pradesh
Ø  Visakhapatnam, Andhra Pradesh
Ø  Sholapur, Maharashtra
Ø  Davangere, Karnataka
Ø  Indore, Madhya Pradesh
Ø  New Delhi Municipal Council
Ø  Coimbatore, Tamil Nadu
Ø  Kakinada, Andhra Pradesh
Ø  Belagavi, Karnataka
Ø  Udaipur, Rajasthan
Ø  Guwahati, Assam
Ø  Chennai, Tamil Nadu
Ø  Ludhiana, Punjab
Ø  Bhopal, Madhya Pradesh
The next two years will see the inclusion of 40 and 38 cities, respectively or, 40 and 40 cities in case the final two cities get declared. Also, an investment of Rs. 50, 802 crore has been proposed for the 20 winner Smart Cities and towns for the five-year tenure. There are 5 capital cities among the 20 winner cities announced. To qualify for the competition, states and local administrations had to provide ‘smart answers’ to a model with 43 questions. Factors for the same included, feasibility, cost effectiveness, citizen participation, result orientation, strategic planning and several others that accounted towards the ‘100 marks’.
Industry Reacts:
Mr. Kushagr Ansal, Director, Ansal Housing
Smart India Mission is finally underway, and it is good to see that through a tough series of competition, first 20 deserving future Smart Cities have made out. The capital region of the country, NDMC is also amongst the phase 1 list. With this announcement, there will now be a need of Smart Infrastructure to complement the Smart Cities, and the announcements of Union Budget are much more eagerly awaited. 
Mr. Deepak Kapoor, President CREDAI-Western U.P. & Director, Gulshan Homz
With the first set of Smart Cities list declared, the competition for the next set is definitely underway. Uttar Pradesh’s cities missing out this time is quite a setback as there is already a lot of scope for Smart development. But for the next set, Uttar Pradesh’s shortlisted cities will certainly make it there. Overall, the work on the promises and announcements of the last year has begun and very soon, India will become Smartly visible on the global map as well. To complete this dream, the government must now take this Budget Session very seriously for the real estate sector, as Smart Cities Mission will heavily rely on private sector’s contribution.
Mr. Rupesh Gupta, Director, JM Housing
The dream of next level infrastructure and standards of living is not much out of reach now with Smart Cities Mission becoming reality. Phase 1 has given a set of 20 cities which will now strengthen the competition for the remaining cities. All eyes are now fixed on the Union Budget as the decisions during the same will somewhere directly affect the development of Smart Cities. Land acquisition, Single window clearance and GST have become more crucial now, as proper and timely Smart development will require the passage of these.
Mr. Vikas Bhasin, MD, Saya Group
For the country in general, it is a huge news as many were not anticipating promptness and seriousness of the government towards this. But still, somewhere we felt that Uttar Pradesh’s cities should have been a part of the first phase, as it acquired the most cities shortlisted during the announcement last year. The focus now shifts towards the upcoming Union Budget where government’s decisions for the realty sector will play the most vital role for Smart development of the cities in future.
Mr. Rakesh Yadav, Chairman, Antriksh India
The declared cities in future will be well equipped with basic infrastructure, efficient urban mobility and public transport, IT connectivity and e-governance mechanisms. The standards of living will be enhanced drastically which will promote sustainable development as well. The government must now work diligently for upbringing of the private sector through important decisions in the Union Budget such as, Industry Status, Single window clearance and execution of RERA for the realty sector.
Mr. Rajesh Goyal, Vice President CREDAI-Western U.P. & MD, RG Group
With this news, finally the much awaited Smart India Mission is underway albeit, it is disheartening that none of the U.P. cities made it to the top 20 list. Now, since the list is out and the proposed budget announced, it is even more important that real estate sector gets into the deserving limelight in the Union Budget 2016-17 through Industry Status, Single window clearance and GST, as these bills will hold key to the proper implementation of the Smart India Mission.