13 investors in race for 75 road operation contracts

Over a dozen investors, including HDFC Bank, JP Morgan India, Macquarie Infrastructure and Real Assets (India) and Brookfield Asset Management, are interested in executing maintenance contracts for 75 highway projects over 4,500 km.

Highway ministry officials met representatives of these companies last week in Mumbai.
The government collects Rs 3,000 crore toll from these 75 highway projects. The projects the government wants to farm out will be a bundle of two or three stretches of roads offered as operations and maintenance contracts.

The Cabinet Committee on Economic Affairs had in August authorised the National Highways Authority of India (NHAI) to monetise highway projects constructed through the toll, operate transfer method that are generating toll revenues for at least two years.

The government feels monetisation of public-funded highways will attract long-term institutional investment because of future toll receivables.

Other investors in the fray are Mizuho Asiainfra Capital, Mizuho Bank, SBI Macquarie Infrastructure Management, CPP Investment Board, Crisil Risk Infrastructure Solutions, ONMONE, Accuracy, JICA Mountainous Highway Project and TransAsia Infrastructure (India).

The highway ministry plans operations and maintenance contracts for 75 road projects, of which projects that came up in the engineering, procurement and construction method will be bid out in the first phase. EPC projects are fully funded by the government.

This will be followed by bidding for hybrid annuity mode projects. "HAM projects operational for two years will be eligible for tendering," a ministry official told Business Standard. Under the HAM model, the government contributes 40 per cent of the project cost. In the final phase, highway projects on the build, operate and transfer annuity model will be auctioned. In the BOT Annuity model, the cost of laying the road is paid to a developer on a six-month basis after the project starts commercial operations.

SOURCE: CREDAI NCR

#NoHouseNoVote protest by Noida homebuyers hits 25,000 tweets

Started a few weeks ago, from the first weekend of September, the hashtag movement of home buyers of Noida have taken the twitter world by storm. Today, the tweets from Noida and Greater Noida home buyers have touched a count of 25,000.

1200 home buyers from the twin cities mass tweeted on the hashtag NoHouseNoVote on Sunday. Buyers posed with the slogan written on paper in front of them and tweeted the pictures. They also tagged, #AkhileshYadavGharDilaao; #CMAkhileshGharDilao apart from #NoHouseNoVote.

"We have been mass tweeting every weekend since September 4. We have coupled this with a signature campaign. We target upon accelerating the online protest to the maximum till October 18 when we shall present the signed docket with the chief minister's office," Abhishek Kumar, president Nefowa told TOI.

The buyers under the umbrella of Noida Extension Flat Owners Welfare Association (Nefowa) have been shoring up support against delayed completion and possession of apartments across Noida and Greater Noida. They have been demonstrating and hosting organised protests at various apartment complexes in the twin cities for months.

"We are presently accelerating our protests. The buyers' agenda should be central to the issues pertaining to the upcoming elections. Thousands of home buyers are invested in these two cities. Besides a sizeable number of people are shifting in. There are infrastructure problems, completion issues. With so much left to be done, the home buyers are left with no choice but to rake up protests against the election system in the area. No leader has done anything for the home buyers, we might as well not vote at all in 2017," Shweta Bharti, General Secretary, Nefowa added.

SOURCE: ETRealty

Sebi relaxes norms for real estate & infra investment trusts

Aiming to develop the corporate bond market to attract more foreign investments into the India, markets regulator Sebi on Friday allowed a select categories of foreign portfolio investors (FPIs) to directly trade in the debt segment of the market, bypassing brokers. The markets regulator also relaxed norms for real estate investment trusts (REITs), globally one of the popular vehicles to invest in the real estate sector. It also relaxed rules for investing in the infrastructure sector through Infrastructure Investment Trusts (InvITs), also a popular invest vehicle for investors in developed markets.

The Sebi board also approved foreign investors to hold up to 15% in stock exchanges in India. In July the government had hiked this stake from the earlier ceiling of 5%. Foreign banks, insurance companies and depositories are now allowed to have higher stakes in Indian bourses.

For the first time, the Sebi board met at the National Institute of Securities Markets campus in Patalganga, about 80 kilometres from the city. Sebi is setting up the NISM campus for imparting training and certification services for the capital markets.
V. The easier rules for these investment products are expected to attract more companies to take these routes to raise money which in turn would give investors more options to invest in these sectors.

On the issue of allowing FPIs in corporate bond markets, after the initial phase once the regulator and stock exchanges get feedback from FPIs, these entities may be allowed to trade directly in stocks also, market players said. Currently, while all FPIs have to compulsorily route their trades through brokers, but most of the large ones take the direct market access (DMA) route that allow them to put trades using brokers' terminals in their own office.

The move, however, is sure to have negative impact on brokerage houses, domestic and foreign, since these entities stand to lose out on broking commissions from their FPI clients.

The Sebi is also in favour of companies taking minority shareholders' nod before assigning special rights to private equity players. The regulator feels there is a corporate governance issue in such deals and has floated a concept paper on the same for market's views.

Sebi also allowed permanent registration to credit rating agencies, merchant bankers, registrar to issues and some other market intermediaries. At present these entities have to renew their registration every three years.

Sebi also floated another consultation paper on amending its investment advisory rules. Among the issues which this consultation paper will address are if mutual fund distributors can continue to act as investment advisors, restrictions on trading tips via electronic forms like SMS, email etc. and also advertisement codes for investment advisors.

SOURCE: ETRealty

4,000 buyers may get Greater Noida flats by Diwali

The Greater Noida Industrial Development Authority is planning to fast-track the completion certificates of 21 group housing societies in an attempt to address homebuyers' problems and hand over the much-delayed dream homes to them. If all goes according to plan, the GNIDA will hand over occupancy certificates to nearly 4,000 residential units before Diwali.

Speaking to TOI, Deepak Agarwal, chief executive officer, GNIDA, said, "We have scheduled a meeting with the 21 developers on Friday to sort out issues first-hand and expedite the process of issuing completion certificates," he said. "We have urged the developers to join hands with us in this endeavour so that during this festive season, scores of homebuyers will be able to have possession of their homes," he said.

Agarwal said he had reviewed each of the 21 projects in detail. "I am confident of handing over the completion certificates to 90% of the projects by October 15. If any are left out, we will surely hand over the certificates by October 31," he said. "If the developers have in place all the clearances and mandatory prerequisites including no dues certificates, which are linked to respective default amounts, deposit of labour cess, pollution consent and payments for compoundable variation in layout plan, we will have no problems in issuing the completion," he said.

"Once the developers have the completion certificates, they can issue the occupancy certificates, after which the homebuyers can register their properties," he said.

Officials said the 21 projects included some leading developers' projects. The 21 projects are Sam India, Le Residencia, Nirala, Ajnara, Exotica, Gaur Hitech, Panchsheel, Eldeco, Proview, Earthcon, Eros, Galaxy, AIG, Supertech, AVJ, Spring Meadows, MSX, County Homes, etc.

According to officials, on reviewing the situation on Thursday, which was the last date for application of the rescheduled payment plan, it was found that out of the 95 defaulting group housing builders, 95% had submitted their applications to the GNIDA. In the last 15 days, the GNIDA has collected nearly Rs 100 crore from the defaulters, officials said.

"The situation is expected to improve and look up by the end of this month and by October end we have targeted a collection of Rs 200 crore," Agarwal said.

SOURCE: ETRealty

WHY SHRAADH IS A NO MISS

Ridhi Bahl 

Shraadh, originally a Sanskrit word, is a combination of two words ‘Sat’ meaning truth and ‘Adhar’ meaning basis. So it means anything or any act that is performed with all sincerity and faith. It is a ritual that Hindus perform to pay homage to their ancestors (pitrs) especially to one’s dead parents. It is a way for people to express their heartfelt gratitude and thankfulness towards their parents and ancestors, for having helped them to be what they are and praying for their peace. As per Garuda Purana, after thirteen days of death, the soul starts its journey for Yamapuri for another eleven months and only in the twelfth month it reaches to the court of Yamraj. During the period it has no access to food and water. It is believed that Pind Daan and Tarpan done by the son and family members satisfy this hunger and thirst of the soul during its journey till it reaches the court of Yamraj. Hence Shraadh rituals are considered very important during the first year of death.

Every year in the month of Ashwin (Hindu month) Krishana Paksh, that is 15 days commencing from Purnima (full moon night) to Amavasya, Shraadh is performed. One has to perform certain rituals this day like preparing pure vegetarian food, one can also prepare the favourite food of the departed soul. This food is offered to the Brahmins or pundits and is known as Brahmin Bhoj. Prayers should be offered for the peace of soul of our ancestors.  The food should also be offered to cows, dogs and crows. One can also indulge in serving the needy like beggars and old people for the peace of the ancestors’ souls. The ritual is performed on the death anniversary of the departed member of the family or a particular day from Shraadh during Pitr Paksh which is dedicated to that departed member. It is believed that if the rituals are performed with full faith, love and respect, our ancestors get happy and protect us from all the evil powers of the universe. They don’t let anything harm us, be it natural or supernatural.

Ritual of Tarpan or Pind Daan is considered very important in cases of unnatural deaths, as these rituals help in removing the effects of unnatural death and attaining divine peace for the departed soul.

According to Mahabharata, when Karna died, his soul was sent to heaven. There he was offered only gold and silver ornaments in food. He asked king Indra ,the reason for serving him ornaments in food and not edibles. Lord Indra told him that he had only donated gold and silver ornaments to the needy but never donated food to his ancestors. Indra gave him a 15 day period to go back to earth and donate food and other offerings in the name of his ancestors. Post this, Karna came back and performed the rituals of Shraadh or Tarpan for the peace of his ancestors’ souls.

Pitr Paksh or Shraadh is considered as an inauspicious period for starting of any new venture and shopping of new clothes or any household items. Every year, as per the Hindu calendar, the days of performing Shraadh fall on different dates. The last day of Pitra Pakash is known as Pitr Amavasya Shraadh which can be used to perform the Shraadh of anyone.

There are certain things which can be avoided while one is performing Shraadh:

1) Do not use non-vegetarian items for preparing food.

2) Do not consume alcohol while performing the rituals.

3) Never use iron vessels for preparing or serving food

4) Do not perform rituals at dusk or dawn or even after nightfall.

Author is a renowned Vastu consultant & expert. Views expressed in the article are her own.

WHY SHRAADH IS A NO MISS

Shraadh, originally a Sanskrit word, is a combination of two words ‘Sat’ meaning truth and ‘Adhar’ meaning basis. So it means anything or any act that is performed with all sincerity and faith. It is a ritual that Hindus perform to pay homage to their ancestors (pitrs) especially to one’s dead parents. It is a way for people to express their heartfelt gratitude and thankfulness towards their parents and ancestors, for having helped them  to be what they are and praying for their peace. As per Garuda Purana, after thirteen days of death, the soul starts its journey for Yamapuri for another eleven months and only in the twelfth month it reaches to the court of Yamraj. During the period it has no access to food and water. It is believed that Pind Daan and Tarpan done by the son and family members satisfy this hunger and thirst of the soul during its journey till it reaches the court of Yamraj. Hence Shraadh rituals are considered very important during the first year of death.

Every year in the month of Ashwin (Hindu month) Krishana Paksh, that is 15 days commencing from Purnima (full moon night) to Amavasya, Shraadh is performed. One has to perform certain rituals this day like preparing pure vegetarian food, one can also prepare the favourite food of the departed soul. This food is offered to the Brahmins or pundits and is known as Brahmin Bhoj. Prayers should be offered for the peace of soul of our ancestors.  The food should also be offered to cows, dogs and crows. One can also indulge in serving the needy like beggars and old people for the peace of the ancestors’ souls. The ritual is performed on the death anniversary of the departed member of the family or a particular day from Shraadh during Pitr Paksh which is dedicated to that departed member. It is believed that if the rituals are performed with full faith, love and respect, our ancestors get happy and protect us from all the evil powers of the universe. They don’t let anything harm us, be it natural or supernatural.

Ritual of Tarpan or Pind Daan is considered very important in cases of unnatural deaths, as these rituals help in removing the effects of unnatural death and attaining divine peace for the departed soul.

According to Mahabharata, when Karna died, his soul was sent to heaven. There he was offered only gold and silver ornaments in food. He asked king Indra ,the reason for serving him ornaments in food and not edibles. Lord Indra told him that he had only donated gold and silver ornaments to the needy but never donated food to his ancestors. Indra gave him a 15 day period to go back to earth and donate food and other offerings in the name of his ancestors. Post this, Karna came back and performed the rituals of Shraadh or Tarpan for the peace of his ancestors’ souls.

Pitr Paksh or Shraadh is considered as an inauspicious period for starting of any new venture and shopping of new clothes or any household items. Every year, as per the Hindu calendar, the days of performing Shraadh fall on different dates. The last day of Pitra Pakash is known as Pitr Amavasya Shraadh which can be used to perform the Shraadh of anyone.

There are certain things which can be avoided while one is performing Shraadh:

1) Do not use non-vegetarian items for preparing food.

2) Do not consume alcohol while performing the rituals.

3) Never use iron vessels for preparing or serving food

4) Do not perform rituals at dusk or dawn or even after nightfall.

27 MORE CITIES ON THEIR WAY TO BECOME SMART CITY

In an exclusive press conference organised by the Ministry of Urban Development, Shri M Venkaiah Naidu, the cabinet minister for Urban Development announced the third set from the 98 listed regions which are to be developed as Smart Cities under the Smart Cities Mission. The competition at this platform is tough as all the regions are being picked on a strict numbering basis where they have to pass through a lot of parameters and being marked for the same. Basis these marks, the top ones are selected for list to be announced. Compared to the previous of counts of 20 in the first list and 13 in the second list, the count was very high this time, making it to 27 inclusions in the current list. The current list notably features 5 regions from Maharashtra, 4 from Tamil Nadu and Karnataka, 3 from Uttar Pradesh, 2 each from Punjab, Rajasthan and Madhya Pradesh along with 1 each from Andhra Pradesh, Odisha, Gujarat, Sikkim and Nagaland. With the list now totalling to 60 regions, the proposed investment has risen to INR 1,44,742 Crore.

Industry Reactions

1. Ashok Gupta, CMD, Ajnara India Ltd.

The complete list of 98 cities boasts of some of the most strategically located regions in the entire country. Due to unorganised developments, proper attention could not be given to these regions even though they carried huge potential. Now with the government at centre recognising the importance of developing these regions and bringing them at par with the prominent Tier 1 cities, the Smart Cities Mission will hold key. Several key regions such as Agra, Kanpur and Gwalior have made inroads through this list and which in turn will help create a ripple effect in their neighbouring regions reaping the fruits of development.

2. Kushagr Ansal, Director, Ansal Housing

With more and more regions being added to the list of regions being selected to be developed as Smart Cities, a lot of planning and execution will be witnessed in the upcoming 3 – 5 years. This will mean a lot of infrastructural developments in these regions which in turn will provide space for employment and economy revival. As has already been disclosed, a total of INR 48,000 Crores would be pumped through the central government during the course of the entire project along with the respective state governments adding their contributions.

3. Deepak Kapoor, President CREDAI-Western U.P. & Director, Gulshan Homz.

With the list now reaching up to 60 from the shortlisted 98 regions, it sets the tone right straight from the central government which was always doubted to perform on the much hyped Smart Cities Mission. This accompanied with the mission of Housing for All by 2022 is sure to do wonders for the real estate sector of the country. Major developments would also be seen on infrastructural fronts which will mean a completely changed landscape of the country.

4. Vikas Bhasin, MD, Saya Group

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.