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‘Goraguntepalya road overbridge set to open for traffic tomorrow’Pravasi Bharatiya Divas

Bengaluru:Jan 5,2016

The RoB is expected to make travelling on this stretch a breeze

 Four years in the making, the Goraguntepalya Road Overbridge (RoB) along the Outer Ring Road is all set for a formal launch on January 6. Designed to decongest the ORR, the project will also ease traffic on Tumakuru Road, just in time for the Pravasi Bharatiya Divas event kicking off on Saturday.

Built jointly by Bengaluru Development Authority (BDA) and South Western Railway, the RoB passes over two rail routes rendering the railway gates redundant. Frequent closures of the gates triggers massive traffic pile-ups on the busy Ring Road. The traffic police have often been at loggerheads with Railways, insisting that closure frequency cannot be increased.

Perennially stuck at the gates in kilometre-long queues, ORR commuters are bound to heave a huge sigh of relief. Chief Minister Siddaramaiah is expected to inaugurate the partially completed RoB on January 6, R Hithendra, Additional Commissioner of Police, Traffic, said. Two-way traffic will be allowed on the RoB, only one ramp of which is complete. SWR is expected to ready the second ramp soon.

During gate closures – at least 20 times a day – the traffic pile-up extends all the way up to Tumakuru Road, a small stretch of which is part of the Ring Road.

The commute from BEL Circle on ORR to Goraguntepalya now takes about an hour. The RoB is expected to make travelling on this stretch a breeze and reduce congestion at Goraguntepalya by over 50%.

This, as traffic police officials point out, will benefit delegates heading to the Bangalore International Exhibition Centre, where the Pravasi Bharatiya Divas event is scheduled to be held from January 7 to 9.

Once the railway gates underneath the bridge are permanently closed, train halts at Yeshwantpur railway station are likely to be reduced to three minutes. Currently, Tumakuru-bound trains are not allowed to proceed from the first three platforms till the gates are closed. Incoming trains are stuck at Chikkabanavara station.

People advocating the suburban rail project say trains from the Krantivira Sangolli Rayanna city railway station can now chug into Yeshwantpur station at smaller intervals, decongesting tracks at the crowded city station.

DH News Service

The Road Overbridge passes over two rail routes rendering the railway gates underneath redundant.

When the gates close – at least 20 times a day-the traffic pile-up on Outer Ring Road used to extend all the way up to Tumakuru Road.

Goraguntepalya

Road Overbridge

Yeshwantpur railway station

The RoB is expected to reduce train delays at Yeshwantpur railway station and decongest other stations on the line.

 

Courtesy by: Deccan Herald

‘State Bank of India ‘s rate cut move to intensify competition in retail loans space’

January 02, 2017,

As per the latest data, housing and vehicle loans of the banking industry account for nearly 38% of industry loans as of November 25, 2016, an increase of 6.5% compared to a year before.

SBI's rate cut move to intensify competition in retail loans spaceSBI's rate cut move to intensify competition in retail loans space - Image

ET Intelligence Group: The much-awaited rate cuts by SBI and some other public sector banks are set to increase competition in the retail loan segment. These rate cuts will give another boost to retail credit that is driving the loan book growth of the industry.

As per the latest data, housing and vehicle loans of the banking industry, at Rs 9.8 lakh crore, account for nearly 38% of industry loans as of November 25, 2016, an increase of 6.5% compared to a year before. Here is an ETIG compilation of the likely impact on different players.

SBI
In the last two quarters, even as SBI reported 11% and 8% growth in its loan book respectively retail loans have grown by 20% y-o-y in both quarters with the segment’s contribution to overall loan book now standing at 24%, compared to 21% a year ago.

The transmission could be more visible on the home loan portfolio from the Jan-March quarter onwards given that it accounts for nearly 60% of its retail loan book. The management’s guidance on how home loan demand may evolve hereon, could even lead to earnings revision on the upside for SBI.
PRIVATE SECTOR BANk

It also means that the private sector lenders will be forced to cut their retail lending rates and work harder on improving their CASA (current account and savings account) proportion of total deposits in order to report good margins even as demonetisation linked deposits may have aided their deposit growth.

HOUSING FINANCE COMPANIES
The impending competition in the mortgages market means nonbanking financial companies, especially housing finance firms, with relatively better funding mix may be in a better position to pass on the lower cost of funds and salvage part of the slowdown demonetisation is believed to have caused in the real estate market.

Although the demonetisation move may bring structural pressure on real estate prices and the loan against properties segment (LAP), housing finance companies which have most of their transaction linked to banking or electronic channels may escape a sharp contraction in their mortgage book growth.

While most housing finance companies have been claiming that their LAP lending is based on cash-flow analysis, even for self-employed customers, their numbers for the second half of FY17 will prove if this claim is indeed true.

In a presentation put up on exchanges, Indiabulls Housing Finance claimed that generally its bounce ratios for home loans and LAP portfolios were about 2.9% and 3.6%, respectively, and that they stayed unchanged even in November. While the company kept its guidance of 30% loan book growth for FY17 unchanged post demonetisation, it would be interesting to see if it revises its loan growth expectations now.

OTHER NBFCs
If consumer-focused NBFCs manage to compete lower lending rates of banks some of the lost momentum in consumption-linked demand may revive. The management of Bajaj Finance, while giving an update in mid-December, acknowledged a slowdown in 2-wheeler and 3-wheeler financing post demonetisation.

But it refrained from assessing the impact of slowing demand on personal loans, business loans, loans against property and rural lending on its loan book growth. The impact of demonetisation on its consumer portfolio, where most of disbursements happen to salaried persons, is likely to be transient, but it could be felt longer on segments like LAP and business loans.

Courtesy by:The Economic Times

New projects to unclog Ghaziabad roads this year

January 02, 2017,

The projects, which are in various stages of completion,are primarily aimed at providing relief to its 34 lakh people from the nagging traffic problems that have become the order of the day.

New projects to unclog Ghaziabad roads this yearNew projects to unclog Ghaziabad roads this year - Image

GHAZIABAD: The new year promises a lot to the city as various infrastructural initiatives launched in the past could see the light of day in 2017. The projects, which are in various stages of completion,are primarily aimed at providing relief to its 34 lakh people from the nagging traffic problems that have become the order of the day.

1. Metro link from Dilshad Garden to New Bus Stand

Over 55% of work is complete and the 9.41km project is expected to be completed by June 2017. There will be eight Metro stations between Dilshad Garden and New Bus Stand. The estimated cost of the project is Rs 2,210 crore. Once completed, the Metro is expected to take the traffic load off the city’s roads by more than 50%. “Though there are some issues with funds, we sincerely hope that it will not come in the way of timely completion of the project,” said Vijay Kumar Yadav, vice-chairman, Ghaziabad Development Authority.

2. Elevated Road from UP Gate to Raj Nagar Extension

Work in full swing on the 9.3 km six-lane road being built at a cost of Rs 1,147.6 crore. Expected to be completed by April 2017, the project is touted as country’s longest elevated road to be built on a single pier. Once complete, the road will reduce the travel time from UP Gate to Raj Nagar Extension to a mere 10 minutes from the nearly 45 minutes now. “More than 73% work is complete and we hope to open the road by April,” said Chakresh Jain, executive engineer, GDA.

3. Grade Separator on GT Road

Work is nearing completion for the grade separator at Meerut trisection. Once completed, it is supposed to decongest the busy cross-section which sees merging of traffic from three points. “Being built at a cost of Rs 35 crore, the work on grade separator is almost complete. We hope to commission it by April next year,” said Vijay Kumar Yadav.

4. Railway under-bridge near Hindon, Vasundhara

The stretch of road parallel to Hindon river, which connects the city area to trans-Hindon areas of Vasundhara and Indirapuram, is a nightmare for commuters as there is a long traffic jam almost every day. However, by January, a new railway underbridge will open up for traffic. Built at a cost of Rs 30 crore, the RUB has two concrete push boxes of 9 X 4.5 meters just beneath the railway line that will allow traffic from both directions to pass smoothly.

5. Railway under-bridge at Sahibabad railway station

Being built at cost of Rs 28 crore, the railway underbridge at Sahibabad will be commissioned by March 2017. The project will provide relief to hundreds of commuters from delta colonies for whom getting stuck at this section has become a regular affair.

 

Courtesy by: The Economic Times

Mumbai: Draft regional plan only for areas without DP

January 02, 2017,

The regional plan can also indicate some proposals over the sanctioned DP areas in the interest of overall development of the region”,said the spokesperson.

Mumbai: Draft regional plan only for areas without DPMumbai: Draft regional plan only for areas without DP - Image

MUMBAI: The Mumbai Metropolitan Region Development Authority (MMRDA) has said the proposed land use and development control regulations contained in its Draft Regional Plan applies to only those areas that do not have a sanctioned development plan.

It was responding to a TOI report on December 26 (Uproar as MMRDA) eyes devpt of 1070 sq km on city outskirts), which said villagers in Mira-Bhayander and Vasai-Virar were protesting against the rampant urbanisation proposed in the regional plan. “Municipal corporations, municipal councils and special planning authority areas in MMR will continue to be governed by their respective sanctioned development plans and development control regulations. Thus, the land uses shown in the regional plan regarding these areas are only indicative,” said an MMRDA spokesperson.

The regional plan can also indicate some proposals over the sanctioned DP areas in the interest of overall development of the region (for example, growth centre in Vasai-Virar Municipal Corporation and industrial zone in its surrounding special planning authority area). “However, they can be realised only after the same go through the mandatory DP amendment process by the respective municipality or special planning authority, after the regional plan is sanctioned,” said the spokesperson.

 

 Courtesy by:The Economic Times

‘Larsen & Toubro Construction, four others seek nod to set up SEZs’

January 02, 2017,

These applications will be taken up at the meeting of the Board of Approval (BoA) headed by Commerce Secretary Rita Teaotia on January 6 here, an official said.

L&T Construction, four others seek nod to set up SEZsL&T Construction, four others seek nod to set up SEZs - Image

NEW DELHI: As many as five developers, including that of L&T Construction Equipment and Worldwide Oilfield Machine, have sought the government’s nod to set up new special economic zones (SEZs) in the country.

These applications will be taken up at the meeting of the Board of Approval (BoA) headed by Commerce Secretary Rita Teaotia on January 6 here, an official said.

Worldwide Oilfield Machine has proposed to set up a sector-specific SEZ for engineering in Pune over 58.23 hectares. The land is proposed to be purchased from agriculturists through negotiations, it said.

Similarly, L&T Construction Equipment (reality division) is keen to put up an IT/ITeS SEZ in Karnataka over 2.34 hectares. The other developers that have sought the commerce ministry approval include Embassy Property Developments, Horizonview Properties and Phoenix Embassy Tech Zone. They all have planned to set up IT/ITeS SEZs.

According to an industry expert, the increase in number of proposals to set up new zones reflects a gradual increase in investor interest in SEZs, which act as export hubs.

After the government imposed minimum alternate tax and dividend distribution tax, these zones started losing their sheen. The developers and units want the government to withdraw or significantly reduce the taxes.

The commerce ministry has time and again called upon its finance counterpart not to abolish the tax incentives being enjoyed by SEZs as their removal would hurt exports and job creation.

Developers and units in SEZs enjoy certain tax and other procedural benefits. The government is considering gradually doing away with tax exemptions to various sectors, including special economic zones.

SEZs enjoy 100 per cent income tax exemption on export income for the first five years, 50 per cent for the next five and 50 per cent of the ploughed back export profit for another five years.

Exports from these zones logged a marginal growth of 0.77 per cent at Rs 4.67 lakh crore in 2015-16. The exports from such 204 zones stood at Rs 4.63 lakh crore in 2014-15.

According to commerce ministry data as on March 31, these zones have attracted investments worth Rs 3.76 lakh crore and have generated employment for 15.91 lakh people.

 

Courtesy by: The Economic Times

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