This week had some interesting events….

– a friend was offered a 30% discount on a retail purchase of a flat in one of Mumbai suburbs

– a lovely property belonging to Hindustan Unilever Ltd. did not find any buyer in an auction – at Worli

– one girl was killed in Delhi by a bus. She was walking with an Ipod – and did not hear the bus.How do you tell the kids in the office such a morbid story to drive home the point? Hey kids take care of your lives!

– Welcome FDI in retail. Is this the end of the Kirana stores? Not so, says my kirana store friend. Who will give your mom 50gms of kismis, kaju, elaichi? My mom refuses to buy more – she prefers buying fresh whenever she needs instead of stuffing all this in a fridge. Well the Kirana stores have a few more years to go.

FDI in 53 cities says UPA. Well Jayalalitha, Mamta, Maya have screamed murder already. BJP is confused. UPA states like Maharashtra will follow….not very useful UPA!

When FinMin announced a limit of US $ 10 Billion for FII investments in Indian mutual fund (a few months ago) a TV channel wanted a byte. I said ‘it will not attract any money’ ..she was shocked and decide to use somebody else’s quote. Now the figure is NIL. Still waiting. Given our cost structures – and commission structure I think it will be NIL for some more time. Only fund that is likely to get some money is the banking etf. Clearly when you cannot buy shares of SBI directly, you need to invest in the bankex – through a Bank ETF….:-)

 

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  1. a better reform would have been to break the APMC act and break the back of the wholesale market cartel -but hey who wants to upset a votebank
    +powerbank

  2. Good one – powerbank!
    Try buying a sack of anything – onions/potatoes etc from say Nashik(Lasalgaon) etc and bring it into the city. If you are not looted by the octroi agents and/or traffic police you will be exhausted by the toll booths.
    It really would have been great if you allowed 100% into cold storage/logistics/purchasing directly from farmers, and THEN followed with retail.As usual the guy who can buy policy gets his policy done. As has been said umpteen times here the regulator is run by the largest player.

  3. – one girl was killed in Delhi by a bus. She was walking with an Ipod – and did not hear the bus.

    did the bus driver saw the girl? and still he decided to run over!!

  4. Subra,

    “a friend was offered a 30% discount on a retail purchase of a flat in one of Mumbai suburbs”, can you pls let me know some more details of the same ? Would really be interested to purse such an offer.

  5. ram

    not even mentioning the suburb 🙂 it was a flat for Rs. 2.8 crs….and then he was offerred for about 2.1 – but with some trappings reduced…

  6. Jagadees – yes the same property – I meant there were not enough takers..sorry i said no takers…any way the normal builders like Lodha, etc. were missing…largely it is the user mind set rather than the builder mindset…:-)

  7. with these figures i feel mumbai is costlier than most of US or western wealthy cities…just ridiculous. Business should move to Tier 2 cities.

  8. Heard some horrible real stories in hyd. The apartments bought for 25 lacs in hyd surroundings in last two years are quoting for around 14 lacs now

  9. shinu – do you know that in Bandra, Altamount Road, Worli, etc. you can get houses for rents of Rs. 10 lakhs per month? L O L..obviously something is wrong!

    yes these are huge houses, good security,…etc. still 1.2 crs RENT for one year is tough to digest, is it not?

    Of course there is a Taj Suite where you pay Rs. 1 million (Rs 10L) for ONE NIGHT for…..

  10. Subra Sir

    If they know the value of these money – God bless them.
    It’s not just the rooms i am not convinced with, the quality of life they expect by staying in such FLAT of depreciating value with a MAXIMUM quality life of 30 years and in a city which needs leaps and bounds to grow in terms of living standards compared to the major cities of the world. Just see where its ranks in the below article from times.

    http://economictimes.indiatimes.com/markets/real-estate/realty-trends/bangalore-best-indian-city-to-live-in-global-survey/articleshow/10918193.cms

    Taj suite is for you to just get pampared and spoiled for a day. 🙂 Not that comparable i believe though wondering what and when that day will be for me :).

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