Mumbai realty robust despite small fall in flat sales in February

Mumbai’s real estate market continues to be robust despite a minor blip in February when flat sales clocked a 2.40% decline

Mumbai's real estate market continues to be robust despite a minor blip in February when flat sales clocked a 2.40% decline, a leading industry body said.
 
The city reported a marginal decline in flat registrations at 16,341 in February as against 16,743 registrations in the year-ago period, data from the Maharashtra Chamber of Housing Industry (MCHI) showed.

"There has been no sharp decline in Mumbai's real estate market-there has only been a marginal decline in sales figures of residential apartments," MCHI said in a statement.

The decline in flat sales in the first two months of this year is not severe, MCHI's president Sunil Mantri said, admitting, however, to a small dip in the same during the period. "Although it is a fact that flat sales did decline in the first two months of the current year, the extent of fall is not that severe as is being made out to be by some," Mr Mantri said.

In 2010 (January-December), Mumbai clocked a total registration of 2,17,466 compared to 1,94,885 in the previous year, MCHI data showed.

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Reliance Mutual Fund floats 370 days fixed horizon fund

Reliance Mutual Fund new issue closes on 29th March

Reliance Mutual Fund has launched Reliance Fixed Horizon Fund-XIX-Series 10, a close-ended income scheme.

The investment objective of the scheme is to seek to generate regular returns and growth of capital by investing in a diversified portfolio of central and state government securities and other fixed income/debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility. The tenor of the scheme is 370 days.

The new issue closes on 29th March. The minimum investment amount is Rs5,000.

Amit Tripathi is the fund manager. Crisil Short Term Bond    Fund Index is the benchmark index.

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Fidelity Mutual Fund unveils 366 days fixed maturity plan

Fidelity Mutual Fund new issue closes on 28th March

Fidelity Mutual Fund has launched Fidelity Fixed Maturity Plan Series V-Plan F, a close-ended income scheme.

The investment objective of the scheme is to seek to generate reasonable returns and reduce interest rate volatility primarily through investment in money market and short to mid term debt instruments having maturity, on or before the date of maturity of a plan. The tenure of Plan F shall be 366 days.

The new issue closes on 28th March. The minimum investment amount is Rs5,000.

CRISIL Short Term Bond Fund Index is the benchmark index. Shriram Ramanathan and Mahesh Chhabria (assistant fund manager) are the fund managers.

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