Showing posts with label Real Estate. Show all posts
Showing posts with label Real Estate. Show all posts
Tuesday, 6 March 2012
COMMERCIAL,RESIDENTIAL Rate in Chennai
RESIDENTIAL
Chennai Capital Values Rate/Sq ft (INR) Updated on
Anna Nagar 6200 - 9850 Jan 2012
Ashok Nagar 5500 - 8500 Jan 2012
Boat Club 15000 - 22000 Jan 2012
Egmore 5500 - 11000 Jan 2012
Guindy 3500 - 6000 Jan 2012
Kilpauk 5500 - 11000 Jan 2012
Moggapair 3500 - 4500 Jan 2012
Poes Garden 12500 - 20000 Jan 2012
R A Puram 6500 - 15000 Jan 2012
T Nagar 7500 - 10500 Jan 2012
Vadapalani 2900 - 5100 Jan 2012
Velachery - OMR Road 3500 - 4500 Jan 2012
COMMERCIAL
Chennai Rental Rates/Sq ft (INR) Updated on
Anna Nagar 45 - 55 Jan 2012
Guindy 45 - 55 Jan 2012
Mount Road 57 - 82 Jan 2012
Nungambakkam 55 - 80 Jan 2012
OMR 25 - 45 Jan 2012
Seruseri 22 - 28 Jan 2012
Friday, 24 February 2012
ARS MEGA PROPERTY FAIR - 2012 Tambaram, during 23, 24 & 25th March.
Why Exhibit?
The Real Estate Organization is one of the world highest responsible business, which to be called as the prideful, and respectable only business. One who has taken up the Real Estate Wing as business and experienced in the above field will be recognized in nook and corner of the world with higher ranks. It is largely the end-user segment that drives Chennai real estate market.
However, the scenario is changing fast. Investors have also started taking interest in the markets and developers have also started projecting their properties as investment tools.
The entry of the several financial giants in the local market of Chennai, like the
Government Investment Corporation of Singapore, has resulted in rise in real estate values all across the city. The reason why Chennai is attracting all the attention of the domestic and international investors is lower operational cost, availability of land, skilled manpower and low cost of accommodation. Establishment of IT companies, educational institutions and hospitals in the sub urban areas of the city have further opened the channels of investment. The pace of real estate development in Chennai is quick and extensive and a number of realty majors Both national and global are making their investment in the city to feed in the growing demand by IT professionals. Look for your hot property or make known your property to the thirsty buyers through exhibiting & showcasing your properties/Layout /Independent Villas / Bungalows / Apartments in
EXHIBITORS ADVANTAGES
Establish new business leads with your target audience. Promote your products and services cost effectively. Create awareness of your products and services. See the latest industry trends. Launch new collections, products and services. Gain leverage from extensive marketing campaign.
--->Flat Promoters --->Property Consultants
--->Layout Promoters --->Land Developers
--->Housing Financiers --->Industrial Projects
--->Real Estate Agents --->Interiors Designers
--->Residential Developers --->Resorts & Clubs
MEMENTOS
EXHIBITOR PASSES / VIP PASSES
1TABLE, 2CHAIRS,1SOCKET PLUG POINT,
DUST BIN (20 Liters) WATER CAN & TEA / COFFEE - 2 Times (Per Day)
EXHIBITORS DIRECTORY
1 ENQUIRY BOOK
BOWL FOR DROPPING BUSINESS CARD
WATER CAN WITH BUBBLE TOPS AT THE VENUE
GENERAL SECURITY AT THE VENUE
AMBULANCE / DOCTOR ON CALL
FIRE SERVICE
FREE COVERED PARKING
INTERIOR DESIGNING / DECORATION OF THE STALL
HOSPITALITY
CATERING
SWIPING MACHINES
PROMOTERS (MALE / FEMALE)
PRINITING OF BROCHURES
PUBLICITY MATERIAL
INDIVIDUAL STALL SECURITY
Outdoor advertising through Hoardings, Banners & Cutouts across the city.
Massive Ad campaign covering in leading ‘News Papers’.
Advertisement and editorial coverage in major trade Publications and Journals.
Outdoor advertising through Bus Back Panel & Auto Back Panel.
Personal invitations, News letter, Bulk SMS and E-mails.
Exclusive press release for the fair.
Premium 15% of stall charge for all corner stall.
10.3% Service Tax as applicable
50% advance payment at the time of blocking the stall, balance 50% of stall cost to be paid before 15 days of the exhibition. Payment should be made along with contract form duly filled in by way-off D.D/ Crossed cheque payable at Chennai in favour of ARS EXHIBITIONS & EVENTS PVT.LTD . No contract form will be entertained without payment.
The Real Estate Organization is one of the world highest responsible business, which to be called as the prideful, and respectable only business. One who has taken up the Real Estate Wing as business and experienced in the above field will be recognized in nook and corner of the world with higher ranks. It is largely the end-user segment that drives Chennai real estate market.
However, the scenario is changing fast. Investors have also started taking interest in the markets and developers have also started projecting their properties as investment tools.
The entry of the several financial giants in the local market of Chennai, like the
Government Investment Corporation of Singapore, has resulted in rise in real estate values all across the city. The reason why Chennai is attracting all the attention of the domestic and international investors is lower operational cost, availability of land, skilled manpower and low cost of accommodation. Establishment of IT companies, educational institutions and hospitals in the sub urban areas of the city have further opened the channels of investment. The pace of real estate development in Chennai is quick and extensive and a number of realty majors Both national and global are making their investment in the city to feed in the growing demand by IT professionals. Look for your hot property or make known your property to the thirsty buyers through exhibiting & showcasing your properties/Layout /Independent Villas / Bungalows / Apartments in
ARS MEGA PROPERTY FAIR - 2012 at SRI VASUDEVA THIRUMANA MAALIGAI A/C hall, Tambaram, during 23, 24 & 25th March.
EXHIBITORS ADVANTAGES
Establish new business leads with your target audience. Promote your products and services cost effectively. Create awareness of your products and services. See the latest industry trends. Launch new collections, products and services. Gain leverage from extensive marketing campaign.
EXHIBITORS ADVANTAGES
Establish new business leads with your target audience. Promote your products and services cost effectively. Create awareness of your products and services. See the latest industry trends. Launch new collections, products and services.Gain leverage from extensive marketing campaign.EXHIBITORS PROFILE
Builders--->Flat Promoters --->Property Consultants
--->Layout Promoters --->Land Developers
--->Housing Financiers --->Industrial Projects
--->Real Estate Agents --->Interiors Designers
--->Residential Developers --->Resorts & Clubs
SERVICE TO EXHIBITORS COMPLEMENTRY
MEMENTOS
EXHIBITOR PASSES / VIP PASSES
1TABLE, 2CHAIRS,1SOCKET PLUG POINT,
DUST BIN (20 Liters) WATER CAN & TEA / COFFEE - 2 Times (Per Day)
EXHIBITORS DIRECTORY
1 ENQUIRY BOOK
BOWL FOR DROPPING BUSINESS CARD
WATER CAN WITH BUBBLE TOPS AT THE VENUE
GENERAL SECURITY AT THE VENUE
AMBULANCE / DOCTOR ON CALL
FIRE SERVICE
FREE COVERED PARKING
SERVICE TO EXHIBITORS PAID
INTERIOR DESIGNING / DECORATION OF THE STALL
HOSPITALITY
CATERING
SWIPING MACHINES
PROMOTERS (MALE / FEMALE)
PRINITING OF BROCHURES
PUBLICITY MATERIAL
INDIVIDUAL STALL SECURITY
MEDIA PLAN
Massive Ad campaign covering in leading ‘News Papers’.
Advertisement and editorial coverage in major trade Publications and Journals.
Outdoor advertising through Bus Back Panel & Auto Back Panel.
Personal invitations, News letter, Bulk SMS and E-mails.
Exclusive press release for the fair.
COST OF PARTICIPATION
Per Square Meter Rs.7,500/- Premium 15% of stall charge for all corner stall.
10.3% Service Tax as applicable
PAYMENT TERMS
50% advance payment at the time of blocking the stall, balance 50% of stall cost to be paid before 15 days of the exhibition. Payment should be made along with contract form duly filled in by way-off D.D/ Crossed cheque payable at Chennai in favour of ARS EXHIBITIONS & EVENTS PVT.LTD . No contract form will be entertained without payment.
BUDGET PROPERTIES :Exhibitors On 24th March 2012 & 25 th March 2012
Dream Property, Home Loan & Products Expo
Who Can Participate?
Builders, Real Estate Developers, Home Loan Providers, Interior & Exterior, etc.
Time Schedule
Expo Time: 10 AM to 8.00 PM
Stall Occupancy: 23th March 7 PM
Stall Vacation: 9.00PM on 25th Mar 2012
What is the Stall Size?4x2, 3x3, 3x2, 2x2 (in Square Meter)
(A/C Hall , Non A/C Hall)
What is the Charge?
A/C Hall `. 4000/- Per Square Meter.
Non A/C `. 3000/- Per Square Meter
+ 10.3% Service Tax Applicable.
What does this cost?
Not a pie more than what it would otherwise cost by way of middlemen or agency commission.
When is this fair?
24th - 25th March 2012
Facility to the Exhibitors:1. Fascia with Exhibitor's Name
2. Two Tube Lights
3. 1 Table & 2 Plastic Chairs
4. Exhibitor Pass 2nos
5. Visitors Register
6. Five Amps Power Point
# Additional facilities will be charged
Whom to contact for further details?
B&C Publications,
No.2/431, Behind JJ Nagar Police Station, Mogappair East, Chennai-600 037.
Ph: +91-44-6454 3377 Mobile: 98410 76576
Email: bandcexpo@gmail.com
www.buildingandconstruction.org
Date: 24th March 2012 & 25 th March 2012
(Saturday & Sunday)
Venue:HPM Paradise Mahal (A/C)
Near Telephone Exchange,
Ambattur, Chennai-600058.
SUPPORTED BY
Who Can Participate?
Builders, Real Estate Developers, Home Loan Providers, Interior & Exterior, etc.
Time Schedule
Expo Time: 10 AM to 8.00 PM
Stall Occupancy: 23th March 7 PM
Stall Vacation: 9.00PM on 25th Mar 2012
What is the Stall Size?4x2, 3x3, 3x2, 2x2 (in Square Meter)
(A/C Hall , Non A/C Hall)
What is the Charge?
A/C Hall `. 4000/- Per Square Meter.
Non A/C `. 3000/- Per Square Meter
+ 10.3% Service Tax Applicable.
What does this cost?
Not a pie more than what it would otherwise cost by way of middlemen or agency commission.
When is this fair?
24th - 25th March 2012
Facility to the Exhibitors:1. Fascia with Exhibitor's Name
2. Two Tube Lights
3. 1 Table & 2 Plastic Chairs
4. Exhibitor Pass 2nos
5. Visitors Register
6. Five Amps Power Point
# Additional facilities will be charged
Whom to contact for further details?
B&C Publications,
No.2/431, Behind JJ Nagar Police Station, Mogappair East, Chennai-600 037.
Ph: +91-44-6454 3377 Mobile: 98410 76576
Email: bandcexpo@gmail.com
www.buildingandconstruction.org
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| ONLINE MEDIA PARTNER:http://www.myreality.in |
Date: 24th March 2012 & 25 th March 2012
(Saturday & Sunday)
Venue:HPM Paradise Mahal (A/C)
Near Telephone Exchange,
Ambattur, Chennai-600058.
SUPPORTED BY
Flat Promoters Association
- Ambattur & Avadi
- Ambattur & Avadi
OFFICIAL MAGAZINE
Our Building & Construction
ONLINE MEDIA PARTNER
http://www.myreality.in/
OFFICIAL PR
CATALYST
RADIO PARTNER
RADIO CITY 91.1
Tuesday, 21 February 2012
Global Meet on Renewable Energy in Chennai on March 12,13.
An International Conference and expo on Renewable Energy "RENERGY 2012," would be held in Chennai from March 12 to March 13, 2012.
More than 5,000 visitors are expected to attend the India's largest International Conference and Expo on Renewable Energy, to be organized with the support of Tamil Nadu Energy Development Agency (TEDA).
The event is aimed at bringing together the state-of-the-art renewable energy technologies from across the world, green field ventures, latest innovation on a single platform, with an objective to provide a clear picture about the current trend in renewable energy sector.
RENERGY 2012 would be a resourceful avenue to encourage investments in the renewable energy sector.
Are you...
A renewable energy industry professional?
Financial investor with an interest in investing in renewable energy
Entrepreneur or businessperson with an interest to work in renewable energy?
Professional from any industry keen on understanding business and career prospects in renewable energy?
Scientist or researcher with an interest in renewable energy?
College student or faculty keen to get a better understanding of this important sector?
Government official working in renewable energy or clean technology areas?
If you are any of the above, You must ba at Renergy 2012
Benefits for Conference Attendees
Renergy 2012 will be Get to know the latest perspectives from experts in solar, wind and biomass Gain insights into India’s plans in renewable energy sectors Interact with industry experts and peers for knowledge and business
Above 500 delegates from all over the world will be at the conference. Ensure you are there too Business Generation - Highly focused on business generation and effective networking Comprehensive Coverage - First exhibition to cover all sectors of renewable energy and clean technology – Solar, Wind, Biomass, Waste to Energy, Energy Efficiency, Electric Vehicles, Batteries & Power Systems Government Support - Brings together the support of the government with the power of private participation to provide a truly catalytic platform for businesses The Tamil Nadu Factor - Tamil Nadu is India's largest contributor to renewable energy, and will continue with further leadership in future. Being present in TN will provide your business the expansion possibilities that the state presents.
Focus on Entire Business Value Chain – Exhibition will comprise companies from the entire business value chain, thus presenting exhibitors the opportunity for productive interactions with other parts of their business value chain
Integration with High Power Conference - Will be seamlessly integrated with the high power conference that will be attended by over 50 business leaders as speakers and over 1500 industry professionals and experts Financing Community Presence - Significant presence of the financing community as visitors to the exhibition – we are extending special invitations to top firms in banking/investment banking, private equity, venture capital, multilateral financing agencies and foreign government financing agencies.
Networking Possibilities with Foreign Countries - Industry professionals from the trade councils and companies of over 25 countries will be present at the exhibition and conference, enabling your company to get access to business and technical partnership from these countries
Date: March 12 & 13, 2012
Place: Trade Centre, Chennai
Contacts
Mr. Muthukrishnan
Phone: +91 - 99529 10083
Email: teda@renergy2012.com
More than 5,000 visitors are expected to attend the India's largest International Conference and Expo on Renewable Energy, to be organized with the support of Tamil Nadu Energy Development Agency (TEDA).
The event is aimed at bringing together the state-of-the-art renewable energy technologies from across the world, green field ventures, latest innovation on a single platform, with an objective to provide a clear picture about the current trend in renewable energy sector.
RENERGY 2012 would be a resourceful avenue to encourage investments in the renewable energy sector.
Are you...
A renewable energy industry professional?
Financial investor with an interest in investing in renewable energy
Entrepreneur or businessperson with an interest to work in renewable energy?
Professional from any industry keen on understanding business and career prospects in renewable energy?
Scientist or researcher with an interest in renewable energy?
College student or faculty keen to get a better understanding of this important sector?
Government official working in renewable energy or clean technology areas?
If you are any of the above, You must ba at Renergy 2012
Benefits for Conference Attendees
Renergy 2012 will be Get to know the latest perspectives from experts in solar, wind and biomass Gain insights into India’s plans in renewable energy sectors Interact with industry experts and peers for knowledge and business
Above 500 delegates from all over the world will be at the conference. Ensure you are there too Business Generation - Highly focused on business generation and effective networking Comprehensive Coverage - First exhibition to cover all sectors of renewable energy and clean technology – Solar, Wind, Biomass, Waste to Energy, Energy Efficiency, Electric Vehicles, Batteries & Power Systems Government Support - Brings together the support of the government with the power of private participation to provide a truly catalytic platform for businesses The Tamil Nadu Factor - Tamil Nadu is India's largest contributor to renewable energy, and will continue with further leadership in future. Being present in TN will provide your business the expansion possibilities that the state presents.
Focus on Entire Business Value Chain – Exhibition will comprise companies from the entire business value chain, thus presenting exhibitors the opportunity for productive interactions with other parts of their business value chain
Integration with High Power Conference - Will be seamlessly integrated with the high power conference that will be attended by over 50 business leaders as speakers and over 1500 industry professionals and experts Financing Community Presence - Significant presence of the financing community as visitors to the exhibition – we are extending special invitations to top firms in banking/investment banking, private equity, venture capital, multilateral financing agencies and foreign government financing agencies.
Networking Possibilities with Foreign Countries - Industry professionals from the trade councils and companies of over 25 countries will be present at the exhibition and conference, enabling your company to get access to business and technical partnership from these countries
Date: March 12 & 13, 2012
Place: Trade Centre, Chennai
Contacts
Mr. Muthukrishnan
Phone: +91 - 99529 10083
Email: teda@renergy2012.com
7 infra expectations from Budget 2012-13
Coming as it does at the beginning of the 12th Plan, and given the downbeat mood, there is genuine expectation from Budget 2012-13 that there will be far more action-orientation and policy setting than house keeping and populist schemes.
The infrastructure sector is keenly awaiting some energetic “get going” stimuli as it currently battles with the “triple whammy” of depleting order books, broken cash cycles and high debt leverage.
There is a misconception that the Union Budget does not matter for the infrastructure sector. what difference will it make?” is the cynical view. But that is not true.
Consider this. The infrastructure portion is 15% to 17% of the total Budget. But of the real discretionary portion, that is, Plan Expenditure, the share of infrastructure was 48.5% last year. Equally importantly, the Union Budget provides outlays for about 38% of the Five-Year-Plan targets.
According to the 11th Plan, the India needed Rs. 4.5 lakh crore a year and the Union Budget was able to provide Rs. 1.73 lakh crore of that last year.
What, then, are the key expectations from the forthcoming 2012-13 Budget?
i. A greater thrust towards increasing intermediation of retail savings into infrastructure debt. A good beginning has been made with private-sector infrastructure - NBFCs & public sector undertakings offering infrastructure-bonds. There is media speculation of enhancement of the exemption limit in infrastructure-bonds for retail investors from the current Rs. 20,000 to levels of Rs 50,000 or even Rs. 1,00,000. Linked to this should be the speeding up of the implementation of the $1,100 Crore national infrastructure debt fund & revisiting the strict credit rating and associated conditionalities that limit pension and insurance funds from channeling savings towards infrastructure debt.
ii: There is merit in considering the annuity model for rapidly developing infrastructure in rural and underdeveloped regions where market-driven PPP (public-private partnership projects) fail. Under annuity, the private sector can be roped in to mobilize capital, undertake construction and operations and maintenance for roads, irrigation et al and be paid an annuity (or rent cheque) for a concession period of, say, 20 years.
The issue here is the build-up of future liabilities of the sovereign to service these annuities. The solution is simple. Deflect conventional budgetary expenditure to a National Infrastructure Annuity Fund. So, instead of spending Rs. 1 lakh crore through a plethora of populist programmes and delivered (if at all) through buckets leaking like sieves, it may be a good idea to transfer Rs. 1 lakh crore from the Consolidated Fund of India to a National Infrastructure Annuity Fund. Annuity projects can, then, be awarded to the extent that the corpus of the fund can support. And, thus, there is no fear of future un-provided liabilities. Simple arithmetic shows that a Rs. 1 lakh crore contribution to the annuity corpus committed every year for the next 10 years can immediately enable concessioning out Rs. 4 lakh crore worth of projects today.
Look at the bang for the buck, the immediacy of the impact, the ring-fencing of future liabilities and, above all, the mood and order-book up liftment for the private sector. And this is a sure-fire way to impact underdeveloped areas too.
iii: Now very clearly somebody has to administer this annuity fund. More importantly, that “somebody” has also to galvanise the resurrection of all stuck infrastructure projects — public, or private, and remove policy logjams. That somebody also has to create a pipeline of projects to meet the 12th-Plan targets. So, one of the biggest “policy” expectations from the Budget is that the government will announce an appropriate body to handle the infrastructure sector holistically.
The big expectation is that a new infrastructure ministry will be announced to handle the huge set of challenges in a concerted and comprehensive manner. An infrastructure ministry with visionary political leadership, effective powers and live-wire officers can, then, be a structured institutional response to what is clearly now an onerous task dumped on the shoulders of the Principal Secretary in the Prime Minister’s Office.
iv: The biggest national embarrassment is our power sector. There is no way the Union Budget can choose not to have a point of view on the matter. There are 3 clear stands to be taken:
Settling the issue of financially and politically bankrupt state-owned distribution companies
A clear, transparent and long-term policy on fuels
The fate of domestic power-equipment manufacturers (private and public) vis-à-vis the clearly unequal playing-fields of China.
These should lift the long-term mood in this sector because it is inconceivable to have healthy sovereign finances in the absence of a healthy power sector.
v: Some housekeeping tasks also need to be effected to clear the clogged pipelines of day to day operations. Chief among them is the widely expected announcements regarding the “definition of infrastructure”. Specifics in section 80 IA (relating to the 10-year Income Tax holiday) require attention like “Greenfield” & “Brownfield”, the treatment of mergers and acquisitions and allowable window to choose the 10-year period. There are a few more issues concerning infrastructure special purpose vehicles like applicability of minimum alternate tax, dividend distribution tax and capital gains for unlisted companies.
vi: Land and environment are 2 of the biggest concerns for infrastructure developers right now. Even as the issue of “objectivity” in environment matters is still being sorted out, let us focus on the land matter.
It is necessary for the nation to find a long-term, sustainable, equitable and transparent solution to making land available for economic development. Such a solution has to encompass scientific methods of identifying appropriate land banks, master-planning of activity zones and provisioning of crucial transportation, energy, water and other links.
This is an essential developmental role of the “sovereign” and has to be undertaken in close cooperation between the Centre and states. It is, therefore, proposed that the government consider setting up a NLBC (National Land Bank Corporation) with an initial capitalization of Rs. 50,000 crore, under an Act of Parliament. As part of the scheme, states are to be encouraged and facilitated to set up their own State Land Bank Corporations in symbiotic relationship with the NLBC.
vii: Recent public controversies regarding lack of transparency and good governance have reiterated the long-standing demand for fresh legislation to create truly independent regulatory authorities for various infrastructure sectors. Draft legislation, adroitly prepared by the Planning Commission, has for long been awaiting political will. An announcement in the Budget to this effect will greatly enhance brand India.
BIO-DATA:Vinayak Chatterjee

Vinayak Chatterjee
Chairman :Feedback Ventures (P) Ltd.
Born in 1959, Vinayak Chatterjee is a graduate in Economics from St. Stephen's
College, Delhi University (1976-79) and a Post-graduate in Management from the
Indian Institute of Management, Ahmedabad (1979-81). He co-founded the
Feedback Ventures Group in the early nineties.
Feedback Ventures is today India's leading integrated infrastructure development
group in the Core, Urban and Social infrastructure arena. It operates through its 5
divisions: Infrastructure Advisory, Engineering, Project Management, Capacity
Building and Energy .
The Feedback Ventures group today employs around 350 people with its
Headquarters in New Delhi and offices in Mumbai, Hyderabad, Bangalore, and
Chandigarh.
Over and above the Promoter group, key shareholders of Feedback Ventures include
HDFC, Mr. Gautam Thapar and SREI.
He occupies a pre-eminent position in India as a strategic advisor to leading
corporates, government and multilateral/bilateral institutions in the areas of economic
policy and infrastructure planning and implementation.
In 1998 the World Economic Forum at Davos nominated him as one of the 100
Global Leaders of Tomorrow.
He is currently the Chairman of the Confederation of Indian Industry’s (CII) National
Council on Infrastructure and Regulation. He was also Chairman of CII-National
Committee on Urban Infrastructure for the years 2002-03 & 2003-04 and was the
Chairman of CII (Northern Region) for the year 2000-2001.
He is also a member of the Board of Directors of SRF Limited.
The infrastructure sector is keenly awaiting some energetic “get going” stimuli as it currently battles with the “triple whammy” of depleting order books, broken cash cycles and high debt leverage.
There is a misconception that the Union Budget does not matter for the infrastructure sector. what difference will it make?” is the cynical view. But that is not true.
Consider this. The infrastructure portion is 15% to 17% of the total Budget. But of the real discretionary portion, that is, Plan Expenditure, the share of infrastructure was 48.5% last year. Equally importantly, the Union Budget provides outlays for about 38% of the Five-Year-Plan targets.
According to the 11th Plan, the India needed Rs. 4.5 lakh crore a year and the Union Budget was able to provide Rs. 1.73 lakh crore of that last year.
What, then, are the key expectations from the forthcoming 2012-13 Budget?
i. A greater thrust towards increasing intermediation of retail savings into infrastructure debt. A good beginning has been made with private-sector infrastructure - NBFCs & public sector undertakings offering infrastructure-bonds. There is media speculation of enhancement of the exemption limit in infrastructure-bonds for retail investors from the current Rs. 20,000 to levels of Rs 50,000 or even Rs. 1,00,000. Linked to this should be the speeding up of the implementation of the $1,100 Crore national infrastructure debt fund & revisiting the strict credit rating and associated conditionalities that limit pension and insurance funds from channeling savings towards infrastructure debt.
ii: There is merit in considering the annuity model for rapidly developing infrastructure in rural and underdeveloped regions where market-driven PPP (public-private partnership projects) fail. Under annuity, the private sector can be roped in to mobilize capital, undertake construction and operations and maintenance for roads, irrigation et al and be paid an annuity (or rent cheque) for a concession period of, say, 20 years.
The issue here is the build-up of future liabilities of the sovereign to service these annuities. The solution is simple. Deflect conventional budgetary expenditure to a National Infrastructure Annuity Fund. So, instead of spending Rs. 1 lakh crore through a plethora of populist programmes and delivered (if at all) through buckets leaking like sieves, it may be a good idea to transfer Rs. 1 lakh crore from the Consolidated Fund of India to a National Infrastructure Annuity Fund. Annuity projects can, then, be awarded to the extent that the corpus of the fund can support. And, thus, there is no fear of future un-provided liabilities. Simple arithmetic shows that a Rs. 1 lakh crore contribution to the annuity corpus committed every year for the next 10 years can immediately enable concessioning out Rs. 4 lakh crore worth of projects today.
Look at the bang for the buck, the immediacy of the impact, the ring-fencing of future liabilities and, above all, the mood and order-book up liftment for the private sector. And this is a sure-fire way to impact underdeveloped areas too.
iii: Now very clearly somebody has to administer this annuity fund. More importantly, that “somebody” has also to galvanise the resurrection of all stuck infrastructure projects — public, or private, and remove policy logjams. That somebody also has to create a pipeline of projects to meet the 12th-Plan targets. So, one of the biggest “policy” expectations from the Budget is that the government will announce an appropriate body to handle the infrastructure sector holistically.
The big expectation is that a new infrastructure ministry will be announced to handle the huge set of challenges in a concerted and comprehensive manner. An infrastructure ministry with visionary political leadership, effective powers and live-wire officers can, then, be a structured institutional response to what is clearly now an onerous task dumped on the shoulders of the Principal Secretary in the Prime Minister’s Office.
iv: The biggest national embarrassment is our power sector. There is no way the Union Budget can choose not to have a point of view on the matter. There are 3 clear stands to be taken:
Settling the issue of financially and politically bankrupt state-owned distribution companies
A clear, transparent and long-term policy on fuels
The fate of domestic power-equipment manufacturers (private and public) vis-à-vis the clearly unequal playing-fields of China.
These should lift the long-term mood in this sector because it is inconceivable to have healthy sovereign finances in the absence of a healthy power sector.
v: Some housekeeping tasks also need to be effected to clear the clogged pipelines of day to day operations. Chief among them is the widely expected announcements regarding the “definition of infrastructure”. Specifics in section 80 IA (relating to the 10-year Income Tax holiday) require attention like “Greenfield” & “Brownfield”, the treatment of mergers and acquisitions and allowable window to choose the 10-year period. There are a few more issues concerning infrastructure special purpose vehicles like applicability of minimum alternate tax, dividend distribution tax and capital gains for unlisted companies.
vi: Land and environment are 2 of the biggest concerns for infrastructure developers right now. Even as the issue of “objectivity” in environment matters is still being sorted out, let us focus on the land matter.
It is necessary for the nation to find a long-term, sustainable, equitable and transparent solution to making land available for economic development. Such a solution has to encompass scientific methods of identifying appropriate land banks, master-planning of activity zones and provisioning of crucial transportation, energy, water and other links.
This is an essential developmental role of the “sovereign” and has to be undertaken in close cooperation between the Centre and states. It is, therefore, proposed that the government consider setting up a NLBC (National Land Bank Corporation) with an initial capitalization of Rs. 50,000 crore, under an Act of Parliament. As part of the scheme, states are to be encouraged and facilitated to set up their own State Land Bank Corporations in symbiotic relationship with the NLBC.
vii: Recent public controversies regarding lack of transparency and good governance have reiterated the long-standing demand for fresh legislation to create truly independent regulatory authorities for various infrastructure sectors. Draft legislation, adroitly prepared by the Planning Commission, has for long been awaiting political will. An announcement in the Budget to this effect will greatly enhance brand India.
BIO-DATA:Vinayak Chatterjee
Vinayak Chatterjee
Chairman :Feedback Ventures (P) Ltd.
Born in 1959, Vinayak Chatterjee is a graduate in Economics from St. Stephen's
College, Delhi University (1976-79) and a Post-graduate in Management from the
Indian Institute of Management, Ahmedabad (1979-81). He co-founded the
Feedback Ventures Group in the early nineties.
Feedback Ventures is today India's leading integrated infrastructure development
group in the Core, Urban and Social infrastructure arena. It operates through its 5
divisions: Infrastructure Advisory, Engineering, Project Management, Capacity
Building and Energy .
The Feedback Ventures group today employs around 350 people with its
Headquarters in New Delhi and offices in Mumbai, Hyderabad, Bangalore, and
Chandigarh.
Over and above the Promoter group, key shareholders of Feedback Ventures include
HDFC, Mr. Gautam Thapar and SREI.
He occupies a pre-eminent position in India as a strategic advisor to leading
corporates, government and multilateral/bilateral institutions in the areas of economic
policy and infrastructure planning and implementation.
In 1998 the World Economic Forum at Davos nominated him as one of the 100
Global Leaders of Tomorrow.
He is currently the Chairman of the Confederation of Indian Industry’s (CII) National
Council on Infrastructure and Regulation. He was also Chairman of CII-National
Committee on Urban Infrastructure for the years 2002-03 & 2003-04 and was the
Chairman of CII (Northern Region) for the year 2000-2001.
He is also a member of the Board of Directors of SRF Limited.
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