Infosys finally comes to Kolkata

INFOSYS finally comes to Kolkata.

West Bengal chief minister Mamata Banerjee on Tuesday claimed Infosys Ltd had agreed to start construction of its proposed development centre in Kolkata, even without the state granting the company permission to turn it into a special economic zone (SEZ).

“Infosys has agreed to start construction of its development center in Kolkata, West Bengal, which will have a capacity to seat around 1000 people,” said the IT firm in a statement. “We will submit the plan for the proposed center to the West Bengal government as soon as the land registration process is complete.”

A key official in the state government said that during recent discussions with the management of Infosys, the administration had assured the company of compensating in “other ways”. Following this commitment, the company has agreed to start construction of its development centre in Kolkata, this official said, asking not to be named.

This is absolutely good news for the people of Kolkata as it will definitely help in job creation and will create avenues for other IT companies to start their journey in the City of Joy.

Netaji Birth Anniversary

LETS’S SALUTE NETAJI SUBHAS CHANDRA BOSE on his

BIRTH ANNIVERSARY

Netaji Subhas Chandra Bose has been an iconic personality and one of the great freedom fighters of India.  He has been an hero to many. He has been an inspiration to many and above all He has been a great leader to many.

His most famous quote/slogan was “Give me blood and I will give you freedom” has been really historic. So let’s bow to the great man.

Be courageous

Be Courageous

I just came across a wonderful quote from “Steve Jobs” and thought of sharing the same.

Post demonetization, the real estate market has become very unpredictable. There are few buyers who are waiting for the prices to fall down and there are some who are anxiously waiting for a reduction in the home loan rate.

This is a phase where one needs to be courageous enough and follow his heart and intuition. I am sure that this will lead to the right path and will ensure a bright future of the real estate market.

Banks to cut lending rates

Post demonetization, banks will cut lending rates which is going to have a huge impact on the real estate industry. The affordable housing will witness a huge demand as the salaried class people will get homes loans at a cheaper rate.

Media reports have quoted the Reserve Bank of India saying that banks have collected deposits of nearly Rs 5.4 lakh crore between November 10 and 18, while they disbursed only about Rs 1 lakh crore.

As a result of this surplus liquidity, many banks have already brought down deposit rates by 15 to 25 basis points in a bid to increase lending. Some economic analysts further expect a reduction of 50-75 bps in lending rates in the next four to five months’ time.

Demonetization will also clean up the real estate and, together with RERA, may weed out the element of black money from the sector which will make the sector very transparent.

 

Year End Cheer for Property Market

There has been a year end cheer for real estate market. The government has been very proactive and has taken measures to make the industry transparent and fulfill its vision for “Housing for all”

Be it demonetization or introduction of Real Estate Regulation Authority (RERA) bill, will definitely bring a cheer in the property market. The measures will make the market transparent and will make the end users secure as well.  The bill will reduce litigation and will speed up delivery of the projects which will result in timely possession.

Year end cheer is a hope which we believe that the government will be successful in implementing in future.

 

Impact of Demonetization on Real Estate

Since our prime minister has announced scrapping of Rs 500 and Rs 1000 notes, there has come a new word “demonetization”. There has been a lot of news of how demonetization will impact real estate market.

Demonetization will lead to reduction of bank rates and housing rates and we expect home loans to be available at around 8 to 8.25% in the months.” With the reduction of homes loans, there will be an increase in the demand of properties and the market will witness transactions happening in the real estate market. The impact of demonetization will lead to a lot of demand in the affordable and mid suburban segment.

This is a transition phase but I feel the future is bright for the real estate market.