tag:blogger.com,1999:blog-19740856.post7760844185513346676..comments2024-03-29T05:29:51.250-07:00Comments on India's housing bubble: Goldman Sachs Research - Building up to a crisisUnknownnoreply@blogger.comBlogger30125tag:blogger.com,1999:blog-19740856.post-33658516914755936202009-02-23T19:29:00.000-08:002009-02-23T19:29:00.000-08:00Govt uses SBI to bail out builders.http://fraudsof...Govt uses SBI to bail out builders.<BR/><BR/>http://fraudsofindia.blogspot.com/2009/02/government-bailsout-builders-in-india.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-47912676481188791502009-02-23T18:02:00.000-08:002009-02-23T18:02:00.000-08:00slumdog subprime. The BUST is cominghttp://www.the...slumdog subprime. The BUST is coming<BR/><BR/><BR/>http://www.thehindubusinessline.com/2009/02/24/stories/2009022451600100.htmAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-69904659821297467542009-02-23T14:10:00.000-08:002009-02-23T14:10:00.000-08:00Even affordable housing's hard to sellAn analyst w...<A HREF="http://www.dnaindia.com/report.asp?newsid=1233732" REL="nofollow">Even affordable housing's hard to sell</A><BR/><BR/><I>An analyst with a domestic brokerage said Parsvnath has not been to sell anything and that if it continues to stick to projects without lowering prices, "nobody can help them."</I>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-50921808958625943002009-02-23T14:03:00.000-08:002009-02-23T14:03:00.000-08:00HDFC to charge borrowers for switching bank<A HREF="http://economictimes.indiatimes.com/Personal-Finance/HDFC-to-charge-borrowers-3/articleshow/4179948.cms" REL="nofollow"> HDFC to charge borrowers for switching bank </A>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-82216304125301034242009-02-23T13:07:00.000-08:002009-02-23T13:07:00.000-08:00Bangalore rentals are down Residential rents have ...<A HREF="http://telegraphindia.com/1090223/jsp/frontpage/story_10577436.jsp" REL="nofollow"> Bangalore rentals are down </A><BR/><BR/>Residential rents have fallen by nearly 30 per cent in areas such as Jayanagar, a sought-after location for IT professionals in south Bangalore that saw land value climb nearly 300 per cent during the boom years.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-89360049062499757512009-02-23T09:51:00.000-08:002009-02-23T09:51:00.000-08:00780 million of us (yes that is 78 crore or 75% of ...780 million of us (yes that is 78 crore or 75% of India) lives on the edge of Poverty. The Software and IT industry was the hen that laid golden eggs benefiting the entire Indian community bottom up and not top down as the money fell into hands of middle class Indians who had some connect to the amasses below. Alas, the greedy builders and greedier speculators butchered this hen and also stole the existing Golden eggs it laid.... Jai Ho.<BR/><BR/>BTW I saw Slumdog in October (paid 8$ for that and thought it was worth it). <BR/>I have stayed in close proximity to a slum for sometime and also have faced the harsh realities of being impoverished (not by will but by compulsion). I think the west likes the truth that Bollywood hides. Behind the glitz and glam of Mumbai is the underbelly of hunger, slums, water crisis (thats everywhere in India), food adulteration, ignorance, illiteracy and destitute.skeptic optimisthttps://www.blogger.com/profile/16795929369621648998noreply@blogger.comtag:blogger.com,1999:blog-19740856.post-47296335200175908962009-02-23T06:07:00.000-08:002009-02-23T06:07:00.000-08:00OT: If you have not yet watched Slumdog Millionair...OT: If you have not yet watched Slumdog Millionaire, I definitely recommend it. Though many in Mumbaiites / Indians would have different opinions, I think it is still worth watching. At the least, it reminds us that most people (including middle class indians) are much better off than 60% or so people living in slums in Mumbai.<BR/><BR/>Growing up in Mumbai and having seen slum violance (up, close & personal), I could related to many scenes very easily. I would say majority of Indian educated Middle Class are not even aware of grim realities of slum life. I hope this movie brings attention back to what needs to be done in Mumbai. Government is building bridges for people who can afford cars, but they are ignoring millions who don't even have basic facilities.shaileshhttps://www.blogger.com/profile/14407031960831830463noreply@blogger.comtag:blogger.com,1999:blog-19740856.post-38584588169198871162009-02-23T04:21:00.000-08:002009-02-23T04:21:00.000-08:00Pls. note that Goldratt has become famous for his ...Pls. note that Goldratt has become famous for his theory of constraints which is more like witchcraft and commonsense that anything else. Manufacturing is threatened in a major way by the impending deflation. Which would have a direct effect on Mr. Goldratt's consulting fees. So Mr. Goldratt is saying something which he thinks the feeble minded Indians would buy and continue paying him monies for consulting. On the other hand, I remember Bill Gates also making a forecast of 6 months which is almost up from the time he made the forecast...as also Nandan Nilekani..<BR/><BR/>Reminds me of a famous saying by Buffett - Don't ask a barber whether you need a haircut!<BR/><BR/>So look for vested interest of the analyst if someone seems to be making preposterous claims.<BR/><BR/>-BharatVidyanshu Pandeyhttps://www.blogger.com/profile/03859360843032459316noreply@blogger.comtag:blogger.com,1999:blog-19740856.post-77739685027048426842009-02-22T23:07:00.000-08:002009-02-22T23:07:00.000-08:00Economic upturn in two months: ExpertHaaaaahahahah...<I>Economic upturn in two months: Expert</I><BR/><BR/>Haaaaahahahahaha - this entire crisis is merely that of a little excess inventory. No problem then, is there? Good times will be here in two to three months. Oh the Joy!<BR/><BR/>Never mind that there is a derivatives position of nearly a quadrillion - yes, a thousand trillion - US Dollars on the books of several institutions that is threatening the very existence of the system itself. <BR/><BR/>Never mind that anyone who has taken the littlest peek at the crisis is curled up in the fetal position crying like a newborn and talking about "something has to be done" with no idea what. Who you ask - none other than Volcker, none other than Roubini, none other than Nissim Taleb - the list is endless.<BR/><BR/>And never mind that this crisis was predicted quite accurately by several people - notably Ron Paul, Roubini, Meredith Whitney, Antal E. Fekete - again an endless list.<BR/><BR/>No, never mind all of that. Goldratt has got it right. It is just a few months of oversupply.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-45270710487132906662009-02-22T22:05:00.000-08:002009-02-22T22:05:00.000-08:00where were all these prognosticators in Feb 2008. ...where were all these prognosticators in Feb 2008. forecasting 200$ oil and sensex at 30,000. I stand by my arguments "moronic analysts"<BR/>VikAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-44139902271173346812009-02-22T21:45:00.000-08:002009-02-22T21:45:00.000-08:00Economic upturn in two months: Expert23 Feb 2009, ...Economic upturn in two months: Expert<BR/>23 Feb 2009, 0016 hrs IST, Prabhakar Sinha, TNN <BR/> <BR/> Print Email Discuss Share Save Comment Text: <BR/> <BR/> <BR/> <BR/>NEW DELHI: During this season of gloom, when experts say the economy will not look up till at least 2010, Eliyahu M Goldratt begs to differ. Indian <BR/>economy should return to its path of high growth in two months, says the renowned management expert whose ideas have helped many global majors improve efficiency and do things better. <BR/><BR/>"Fears of recession are completely unfounded,'' says the man described by Fortune magazine as a "guru to industry''. <BR/><BR/>In an exclusive chat with TOI, Goldratt says the Indian economy, particularly manufacturing, is already showing sign of an upturn. "In the next couple of months, barring a few sectors like real estate and automobiles which are dependent on retail financing, it will be back on the growth path,'' he adds. <BR/><BR/>What's more, says the 60-year-old Israeli business thinker, corporates which are resorting to downsizing as a response to fall in sales will find themselves at a disadvantage a few months from now. "Companies that lay people off now will most likely be slow to respond to sales picking up shortly hereafter'', he said. <BR/><BR/>Goldratt, scientist whose celebrated `theory of constraints' helps manufacturers remove broken links from their value chains and improve performance, said the present gloom is just "an outcome of over publicity in the media of the failure of banks in US, which gripped the entire globe''. <BR/><BR/>He, in fact, feels 2009 will be better than the previous year for manufacturing. "The negative growth in the industrial production in India in December was because of fear of demand falling in the future and not because of a lack of demand,'' says the author of books like The Goal, It's Not Luck and Critical Chain, which typically use fiction to propound new business ideas. Goldratt is in India on a lecture tour. <BR/><BR/>Elaborating on the `fear factor', Goldratt gives the example of a Japanese electronic component manufacturer, which came to him for an advice after a 50% fall in production in December. Research showed the company had faced 50% reduction in demand despite a growth in demand at the retail level of around 14% in Japan. As the company was a big exporter, Goldratt assessed the market condition globally. <BR/><BR/>Surprisingly, his research found no evidence of a big economic crisis. Even in markets like the US, where the meltdown began, the fall in retail sales was in single-digit percentage points. "To find the cause of the steep fall in demand, we looked at the demand and supply of companies in the value chain. What we found was that the fear of a slowdown had led retailers to reduce inventories. Because of this, original equipment manufacturers (OEMs) were experiencing a substantial decrease in orders,'' he says. <BR/><BR/>For OEMs, this sales reduction was interpreted as a clear indication that the economic crisis was materializing. "Like the retailers, they too reacted by lowering their inventory levels which, in turn meant that they lowered their purchases from suppliers even more than the level their sales had dropped. This explains why the electronic components manufacturer suffered a dramatic 50% decrease in sales even though the consumer demand stayed about the same,'' he says. <BR/><BR/>Goldratt says the same amplifying effect was seen when the components manufacturers, in turn, dried up their orders to their material suppliers, who experienced an alarming sales drop. <BR/><BR/>Goldratt says the situation will normalize as the surplus inventories are flushed out. Since retailers typically hold three-four months of inventory, they will start increasing their orders to OEMs from February-March. <BR/><BR/>As OEMs hold about two months inventory, the component manufacturers will start experiencing increase in orders with a time lag of around a month. Therefore, by April, he says, the drop in orders crisis will come to an end. <BR/><BR/> <BR/>http://timesofindia.indiatimes.com/Business/Economic-upturn-in-2-months-Expert/articleshow/4171973.cmsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-37702776738581412792009-02-22T21:12:00.000-08:002009-02-22T21:12:00.000-08:00Jai Ho..!!!Risk-averse banks seek 150% collateral ...Jai Ho..!!!<BR/><BR/><A HREF="http://www.business-standard.com/india/news/risk-averse-banks-seek-150-collateral-against-loans/10/33/349816/" REL="nofollow">Risk-averse banks seek 150% collateral against loans</A><BR/><BR/>~ banks are cushioning themselves by seeking more equity participation from the developers, ranging between 40 and 50 per cent of the project cost, and providing loan not more than 50 per cent of the cost in commercial real estate projects.<BR/><BR/>~ While banks generally seek land and the asset to be created as mortgage, which generally account for the total loan amount,<I> they are now seeking some of the finished projects of the developers as collateral as well, </I>to tide over the fall in property prices.<BR/><BR/>~ Banks are very cautious in lending to the real estate sector, especially to commercial projects. The problem arises when the interest burden accumulates and there is no cashflow due to the inability of the developers to lease out the property. Thus, <I>banks are seeking at least 40 per cent as promoter's own contribution and rent agreements prior to lending</I>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-1237672623232546412009-02-22T21:09:00.000-08:002009-02-22T21:09:00.000-08:00Sobha Home Mela bucks the recession trend Express ...Sobha Home Mela bucks the recession trend <BR/><BR/><BR/>Express News Service First Published : 22 Feb 2009 04:08:00 AM ISTLast Updated : 22 Feb 2009 10:29:35 AM ISTBANGALORE: The economic downturn was dealt a heavy blow on Saturday when huge turnout was witnessed at the Sobha Home Mela, which is organised by city-based realty major Sobha Developers. The two-day mela was inaugurated at the company’s St Marks Road property to showcase the company’s 18 projects. The projects include villas to luxury apartments, row houses to plots. This exclusive mela also provides a platform for the prospective buyers to explore opportunities to invest in properties owned by Sobha across all locations, which includes Pune, Coimbatore and Thrissur, apart from Bangalore.<BR/><BR/><BR/>The buyers can avail themselves of special offers at the mela too. Customers can book any flat of Sobha Developers by paying Rs 50,000 through credit card.<BR/><BR/>Other offers include reduced prices for the company’s Sobha Sunscape project at Banshankari extension- Rs 37.99 lakh and Rs 40.5 lakh for 2-BHK and 3-BHK apartments respectively. Those interested in acquiring property at Sobha Beryl will be exempted from EMI until the property is taken into possession.<BR/><BR/>Visitors were enthused at the schemes being offered at the mela. Jyothi, a visitor, said, “The prices (of flats) seem to have come down and considering the reasonable prices my brother will be booking one on February 22.” Sanjay Khosla, executive vice-president, sales and marketing, Sobha Developers, was visibly happy at the response for the mela. “As per our expectations we are getting a good response from people. Ever since bookings have opened for Sobha Lavender at Sarjapur Outer Ring Road, already 21 apartments out of 38, have been booked,” he said.<BR/><BR/>http://www.expressbuzz.com/edition/story.aspx?Title=Sobha+Home+Mela+bucks+the+recession+trend&artid=QnjrVdlu7WY=&SectionID=Qz/kHVp9tEs=&MainSectionID=fyV9T2jIa4A=&SectionName=UOaHCPTTmuP3XGzZRCAUTQ==&SEO=Pune,%20exclusive,%20mela%20,St%20,Marks,%20Road,%20property%20,Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-67375302941226234382009-02-22T19:31:00.000-08:002009-02-22T19:31:00.000-08:00Vik,The analysts may not proof read... That could ...Vik,<BR/><BR/>The analysts may not proof read... That could be a problem...<BR/><BR/>Did you see the video of the so called "Moronic Analysts"... I watched they are mentioning 20 % CAGR for the next 2-3 years...<BR/><BR/>I dont believe they say 20 % simple return for 3 years....<BR/><BR/>I guess in your urgency/temperment you made this error<BR/><BR/>thanks<BR/>MathfanAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-19358091457094354212009-02-22T17:06:00.000-08:002009-02-22T17:06:00.000-08:00* Emaar shares fall 9.6 percent* Fears of further ...* Emaar shares fall 9.6 percent<BR/><BR/>* Fears of further writedowns weigh<BR/><BR/>* U.S. unit John Laing Homes sought Chapter 11 on Thursday (Releads with shares, adds Emaar no comment)<BR/><BR/>By Jason Benham<BR/><BR/>DUBAI, Feb 22 (Reuters) - Shares in Emaar Properties EMAR.DU, the developer behind the world's tallest tower, fell 9.6 percent on Sunday on fear of writedowns and weaker earnings from its home market after its U.S. unit filed for bankruptcy.<BR/><BR/>In the first day of trading since its U.S. unit John Laing Homes sought Chapter 11 bankruptcy protection on Thursday, Emaar stock closed 9.6 percent lower at 1.89 dirhams, underperforming a 4.3 percent drop in the wider market .DFMGI. Emaar had traded as high as 2.18 dirhams earlier in the session.<BR/><BR/>Emaar, the largest listed Arab real estate developer, will now concentrate on its home market Dubai which has been hit hard by the global financial crisis.<BR/><BR/>"Emaar's exposure to the U.S is now very limited. The focus is now mainly on its UAE earnings, which will continue to fade as long as no major new sales are made. They have barely made any sales over the last two quarters, 2009 profit is likely to be lower than 2008," Roy Cherry, vice president, research, at Shuaa Capital in Dubai said.<BR/><BR/>Morgan Stanley said in a report earlier this month there was a risk that in full-year 2009 and 2010 Emaar would have to start writing down inventory in other markets, notably Dubai. It said in another report that Dubai property prices had fallen by an average of 25 percent since their peak in September.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-44624772227246950272009-02-22T16:31:00.000-08:002009-02-22T16:31:00.000-08:00Why 50% price guarantee? it’s not a magical number...Why 50% price guarantee? it’s not a magical number nor selected by Ratan Khatri. <BR/><BR/>“This apart, banks are cushioning themselves by seeking more equity participation from the developers, ranging between 40 and 50 per cent of the project cost, and providing loan not more than 50 per cent of the cost in commercial real estate projects.”<BR/><BR/>http://www.business-standard.com/india/news/<BR/>risk-averse-banks-seek-150-collateral-against-loans/05/42/349816/ <BR/><BR/><BR/>So guys let it fall then only pick up, minimum 50% price cut is guarantee. <BR/><BR/>Vulture.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-65816161302039213552009-02-22T14:51:00.000-08:002009-02-22T14:51:00.000-08:00crashing tech coolies...what remains is a bollywoo...crashing tech coolies...what remains is a bollywood crash that has bubbled up to unprecedented girth<BR/><BR/><BR/><BR/>http://www.telegraphindia.com/1090223/jsp/frontpage/story_10577409.jspAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-79447694152079640122009-02-22T12:25:00.000-08:002009-02-22T12:25:00.000-08:00FDIC is now $250k as per the new lawFDIC is now $250k as per the new lawAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-561357963053503882009-02-22T11:48:00.000-08:002009-02-22T11:48:00.000-08:00Anon above,Citibank India can wipe out deposits of...Anon above,<BR/>Citibank India can wipe out deposits of Indians by saying it will insure only 1Lac rupees whereas in US it is insured upto 1Lac dollars.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-46386686895077243132009-02-22T09:23:00.000-08:002009-02-22T09:23:00.000-08:00Folks ,Nationalization of citibank will not affect...Folks ,<BR/><BR/>Nationalization of citibank will not affect your money in the bank in anyway . The whole purpose of nationalization ( if it happens ) is to safe guard the solvency of the bank thereby protecting the deposits . Don't panic .<BR/>It is a different story if you are a shareholder of the bank . Nationalization is going to wipe them off .Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-69131030723336398862009-02-22T08:40:00.000-08:002009-02-22T08:40:00.000-08:00Regarding Citibank, it is anyone's guess what woul...Regarding Citibank, it is anyone's guess what would happen to the money in Citibank India. The Indian Government does not protect the deposits more than Rs.1 lakh, that too I am not sure about NRI deposits.<BR/><BR/>If Citi is nationalized, it is expected they would provide the same safety net to overseas customers like they do to their US customers. Heck, even the Iceland banks were forced to protect the UK customers.<BR/><BR/>However, the question is, do you want to leave that to chance? :)anandhttps://www.blogger.com/profile/14834359164614504859noreply@blogger.comtag:blogger.com,1999:blog-19740856.post-59726164212930917682009-02-22T07:43:00.000-08:002009-02-22T07:43:00.000-08:00IN response to a rare show of consumer activism, I...IN response to a rare show of consumer activism, India's realty giant<BR/>DLF may be compelled to change prices of its 3,493-apartment project<BR/>in Chennai apart from agreeing to a bouquet of demands to pacify irate<BR/>home buyers. Nearly 857 buyers, who have booked DLF's Garden City<BR/>project in Chennai last year, have come together to seriously<BR/>negotiate with DLF on issues such as refund of deposits while exiting<BR/>the project, pricing, access road and registration of undivided share<BR/>of land. They have sought a scrutiny of the original title documents<BR/>pertaining to the project.<BR/>They are angry over the delay in getting approvals from the local<BR/>authorities and what they see as DLF's reluctance to register the<BR/>undivided share of land as is the norm in Tamil Nadu. There are also<BR/>concerns over the inadequate nature of the access road. Some of the<BR/>buyers, about 200 of them, want to exit from the project and were<BR/>angry when DLF said that they would not refund their deposit money.<BR/>A group member said, 200 buyers have submitted their requests for<BR/>exiting from the project. They say DLF has agreed to refund the<BR/>deposit amount to facilitate an easy exit and is also planning to come<BR/>out with an attractive package on Monday evening to retain some of the<BR/>customers. SIMMERING CLAIMS<BR/>CUSTOMERS' WOES Nearly 857 buyers want to negotiate on refund of<BR/>deposits while exiting the project, pricing, and registration of<BR/>undivided share of land.<BR/>Seek scrutiny of project's original title documents.<BR/>Angry over delay in getting approvals from local authorities.<BR/>Concerned over inadequate access road.<BR/>DLF'S HEADACHES<BR/>Slowdown in demand and collapse of the credit market<BR/>Have to deal with falling stock prices, angry investors and unsold<BR/>apartments.<BR/>It had to cut prices of its prized Bangalore property by at least 30%.<BR/>Suitable package in the offing<BR/>"A SUITABLE package for existing customers is under finalisation and<BR/>shall be announced shortly," a DLF spokesperson said in a statement.<BR/>DLF also said it believes the package will be well received by its<BR/>customers, it said.<BR/>"We are sorry to note that you feel dissatisfied and wish to apologise<BR/>for the same. We have noted your observation about the lack of<BR/>communication from our office on the progress of construction etc and<BR/>will strive to improve on this score," a letter written on February 12<BR/>by K Srikanth, general manager, marketing, DLF Southern Homes said.<BR/>In another communication to an individual flat buyer, Mr Srikanth said<BR/>that DLF will shortly be announcing a package "which will be<BR/>attractive to individual buyers and reduce the cost of ownership". "If<BR/>you still decide to pull out, we will respect your decision and<BR/>process your request for refund of advance amount paid by you," the<BR/>letter written on February 16 said. DLF's problems highlight many of<BR/>the troubles facing realty companies. Stunned by the sharp slowdown in<BR/>demand and the collapse of the credit market, they are having to<BR/>grapple with a plethora of issues such as falling stock prices, angry<BR/>investors and a huge unsold stock of apartments. Many companies had<BR/>bought land at skyhigh prices in the recent boom. The current rates,<BR/>on the other hand, are simply not enough to recover their cost of<BR/>acquisition, forget about making a profit. DLF, recently had to cut<BR/>prices of its prized Bangalore property by at least 30%. Other realty<BR/>companies such as Unitech, Parasvnath and Purvankara are similarly<BR/>hard-pressed and have been forced to cut prices, scrap unviable<BR/>projects and raise money at high interest rates.<BR/>The Chennai home buyers have sought a 25% discount in the price of the<BR/>project. The DLF letter dated February 12 does not state clearly<BR/>whether the price will be cut. It only reiterates that the buyers'<BR/>sentiment will be kept in mind whenever the company initiates a cut in<BR/>light of market conditions.<BR/>Given the macro-economic climate, consumers, in general, are closely<BR/>monitoring every penny that leaves their pocket. With the realty<BR/>slowdown, crash in prices and an uncertain job market, consumers will<BR/>be looking at easy exit routes from projects that are not yet ready, a<BR/>realty tracker said.<BR/>DLF has sold over 1,500 apartments in its Chennai project in the price<BR/>range of Rs 2,800-3,200 per sqft. The bookings were done in January<BR/>2008 but the company got the approvals from the Department of Town and<BR/>Country Planning (DTCP) only in February 2009. The booking amount for<BR/>the flats is in the range of Rs 4-5 lakh. The approximate floor area<BR/>ranges between 1,200 and 1,938 sqft. The project, which is 3 km off<BR/>Old Mahabalipuram Road, passes through the Tamil Nadu tsunami<BR/>resettlement colony and the access road currently is 30 feet wide.<BR/>Apart from seeking a separate bypass access to the project, buyers<BR/>feel the road will not be adequate to meet the requirements for at<BR/>least 5,000 cars that will pass through it, once the project is completed.<BR/>"The site has 60 feet road access. Presently, around 30 feet out of<BR/>this in use. Subsequently this will be widened to 60 feet," says a DLF<BR/>spokesperson. The DLF reply is silent on the issue of a separate<BR/>bypass access to the project. The egroup of DLF Chennai buyers have<BR/>held several official meetings with company representatives in the<BR/>recent past apart from writing a letter to the company chairman in the<BR/>first week of February. A group member says that their collective<BR/>strength and perseverance has led the company to sit up and take<BR/>notice of their concerns.<BR/>Buyers are also keen on registration of undivided share of land as is<BR/>the prevailing practice in Tamil Nadu. They have also sought linking<BR/>of payments to progress of construction as against time-bound<BR/>payments, equitable penalty clauses for delay on payments by<BR/>consumer/delivery by DLF and operating of the club by resident<BR/>members. The DLF reply does not make a formal commitment on linking of<BR/>payments to progress of construction but has responded favourably to<BR/>the other two suggestions. DLF, which started taking bookings for the<BR/>flats early last year, bagged the Chennai DTCP approval only on<BR/>February 13, 2009. However, the company is confident of delivering the<BR/>apartments to existing buyers by April 2011.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-34515452945686652842009-02-22T07:19:00.000-08:002009-02-22T07:19:00.000-08:00What will be the impact (on our citibank india ban...What will be the impact (on our citibank india banking accoount) if its nationalized?. i have already created an accout in SBI for my wife. but she hasnt moved all to SBI.<BR/>Also can anyone tell how safe is HSBC? I have my account with them.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-27258750708658235632009-02-22T03:17:00.000-08:002009-02-22T03:17:00.000-08:00@VikAs some one with a bunch of money in Citibank ...@Vik<BR/><BR/>As some one with a bunch of money in Citibank India, I am beginning to think I should move the money immediately out of it, irrespective of nationalization or not.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-45829469976246574422009-02-21T20:53:00.000-08:002009-02-21T20:53:00.000-08:00township-I'm starting to hate this word..sounds mo...township-I'm starting to hate this word..sounds more like titanic<BR/>TMZAnonymousnoreply@blogger.com