In your interest.
Online Personal Finance Magazine
No beating about the bush.
Affordable housing is becoming a trend. Unitech, the country’s second-largest property developer, has announced what it calls Uni Homes – affordable apartments priced between Rs10 lakh - Rs30 lakh in Chennai, Hyderabad, Bengaluru, Kolkata and Lucknow. The company is planning to invest Rs1,700 crore this year to build these homes. Meanwhile, banks have started reducing their home loan rates which will make these flats a bit more affordable. Recently, ICICI Bank has reduced its floating rate for home loans to 12.75% from 13.25%.
Insurance companies offer unusual cover for businesses and individuals. Pallabika Ganguly explores
You have insurance for life, car and house. If you are a businessman, you take cover for things like marine cargo or fire that protects your goods. But did you know that you can buy some unique insurance covers for pets, wedding cancellation/postponement, sports, films and events? Most of these...
"We are planning to come up with seven franchises in different metros in India. By mid-July, we will receive proposals and, in the next 3-4 months, negotiate with those individuals and select our franchisees. Our tradition is to work with independent dealers globally," said Bob Grace, director-overseas operations, Land Rover.
According to media reports, Land Rover was in discussion with the Indian government for supply of sophisticated and modern military vehicles to the armed forces.
"We have already started the discussions with the Indian government for sale of Land Rovers, but we cannot comment on the status of the talks as it is confidential," Grace said.
However, he said the company is developing a new model in its research and development centre in the UK, which will primarily address the defence needs of most countries around the globe, including India.
Asked about the current status of JLR asking for financial assistance from the UK government, Ratan Tata, chairman, Tata Sons Ltd said: "We are in discussion with the UK government on loan guarantee. We are hopeful that we will find a solution to it. Our funding plans for JLR will progress further...”
"Sustaining downturn is extremely important... I would like to see these two brands to come out of the downturn and the companies will have new vehicles and new models....the loan that we are talking to, would be allotted to the company by European Banks," he added.
The company would also decide about assembling the premium cars in India depending upon the business scales by the two iconic brands, Tata said. Last year, Tata Motors, the country's largest vehicles maker, bought Jaguar and Land Rover for $2.3 billion from Ford Motor Co and to fund this, had taken a $3 billion bridge loan. -Yogesh Sapkale with Pallabika Ganguly [email protected]