FSI Boost
The Maharashtra government’s efforts to give a boost to redevelopment in Mumbai by increasing the floor space index (FSI) up to four is leading developers to plan more redevelopment projects. Cessed buildings, which are built before 1960, will be allowed an FSI of four, under cluster development of more than one-acre plots. “We are already into some of the largest redevelopment...

The asset management companies (AMCs) of mutual funds make money, irrespective of whether or not their unit-holders do. Last year, most mutual funds did quite badly. Not so the AMCs. Most of them had a great year. This is the issue. If, as a unit-holder, you wanted to know how much money the AMCs made, it would be hard for you to find out in some cases. Six months of the current FY are already...

But can he execute his plan?

BK Modi, who has had a chequered business life, and is known for his eccentric business ideas, says he is investing $200 million to acquire and develop two pristine Islands—Batam and Bintan—near Singapore. He told Moneylife: “It is true that I am acquiring two Indonesian islands located just about 45km south-east of Singapore. I have plans to transform both the...