Tired realty market offers schemes to lure buyers

first_imgAs home sales have dropped in the national capital region (NCR), developers are coming up with schemes that offer relief to customers from paying their equated monthly installments (EMIs) till they get possession of their flats.’EMI sharing’ or ‘No EMI till possession’ is a concept where home-loan borrowers do not have to pay the EMI until they get occupancy of their flat.It saves the buyers from the double trouble of paying both home rent and the EMI on their home loans.More than a dozen developers, including Ansals and Jaypee, are offering such schemes on their various projects in the NCR. Ansals are offering the ‘No EMI’ scheme on its Mulberry Floors luxury flats in sector 67 Gurgaon. Similarly, Jaypee Greens is offering EMI relaxation for two years for their Personal Suites at Sports City. For their Krescent Homes project in Noida, Jaypee is offering the scheme EMI relaxation scheme for 30 months.Customers are asked to pay between 10 per cent and 20 per cent of the home price at the time of booking.The concept is not new. Many developers in Mumbai and Pune are already implementing it. It is only that the concept is getting popular among developers in the NCR only now.Developers say that it is a winwin situation for both buyers and developers.According to Mohit Arora, director, Supertech Ltd, “The customers benefit from a lower size of upfront investment, minimum risk of delay in possession, appreciation in value of the flat booked and no double burden of paying EMI and rent. This scheme provides ample time to the customers to manage their finances.” On the other hand, it helps developers to sell the project without the need to lower the prices of the property and, thus, ensure regular fund flows that can be used for construction purposes.”It helps boost the sales as it attracts those buyers who are not able to afford both rent and EMI on loans. Also, it attracts the investors as they benefit from the difference in the prevailing home loan rates and the future rates,” Honey Katiyal, chief executive officer (CEO), Investors Clinic, said.However, property experts feel that such schemes are the sign of a sagging realty market.Pankaj Kapoor, managing director of Liases Foras, a real estate research agency said that these promotional concepts are the indication that a correction in prices is at hand.”Generally these promotional schemes are among the last things developers do while holding on to current prices. If the scheme fails to generate good response, then they end up offering huge discounts, which leads the property market to correct,” Kapoor said.For brokers the big worry now is that even these schemes are not attracting enough buyers.”Earlier Jaypee was offering 24 months EMI relaxation for the Krescent Homes and when it failed to generate the required response they extended it to 30 months. Still the response is not so good,” an executive from Axiom Properties told MAIL TODAY .Courtesy: Mail Today advertisementlast_img read more

Olympic tennis: Swiss Roger Federer beats Julien Benneteau of France, moves into third round

first_imgSwiss Roger Federer Monday kept on course for adding the Olympic title to his Wimbledon crown, beating Julien Benneteau of France in straight sets in the second round of the men’s singles tennis competitions at the All England Club.The World No.1 swept past his 32nd-ranked opponent 6-2, 6-2 in an hour and will now play either Luxembourg’s Gilles Muller or Uzbekistan’s Denis Istomin.Elsewhere in the draw, world No.2 Novak Djokovic will meet former US Open champion Andy Roddick in the second round of the Olympic tennis tournament after the American beat Slovakia’s Martin Klizan Monday.Roddick forced his way past Klizan 7-5, 6-4 thanks to late breaks in both sets as the Slovak, ranked 52nd in the world, put up stiff resistance.”It was good. I got myself a couple of great points and only a couple of breaks, but I served pretty well and got through,” Roddick said.The Olympic tennis is being played at Wimbledon, where Djokovic won last year and Roddick has reached the final three times, most recently in 2009.Argentinian World No.10 Juan Monaco booked his place in the second round by beating Belgium’s David Goffin 6-4, 6-1 and will now play Feliciano Lopez of Spain in the second round after he beat Russia’s Dmitry Tursunov 6-7, 6-2, 9-7.Croatia’s 13th seed Marin Cilic will face 2002 Wimbledon champion Lleyton Hewitt in the second round after beating Austria’s Jurgen Melzer 7-6(5), 6-2.”It was not as comfortable as I thought it was going to be,” Cilic said.”In the first set I had a break and then I thought I’m going to get that first set done but Jurgen played really well at the end of the first set and made me a little uncomfortable on the court.”Elsewhere in the draw, France’s World No.20 Richard Gasquet beat 33rd-ranked Robin Haas of the Netherlands 6-3, 6-3 while there was also a win for Canada’s Milos Raonic.advertisementlast_img read more

T20 World Cup: West Indies knock out New Zealand in Super Over

first_imgA spirited West Indies kept alive their semi-final hopes after pulling off a sensational win over New Zealand via Super Over in their final Super Eights match of the ICC World Twenty20 here today.Needing 18 to win in the Super Over, West Indies rode on Chris Gayle and Marlon’s Samuels pyrotechnics to finish the game with a ball to spare at the Pallekele International Cricket Stadium which saw a tied game with both teams finishing on 139 in regulation time.While Gayle started the chase in the Super Over with a huge six over long-off off a no ball by Tim Southee, Sameuls completed the job with a maximum over deep mid-wicket.With three loses from as many games, New Zealand have crashed out of the tournament.The game went into the Super Over after New Zealand made heavy weather of a modest 140-run chase.Ross Taylor, who gave New Zealand hope with his aggressive batting in the Super Over, played a captain’s knock but his unbeaten 62 went in vain as chasing 140, New Zealand managed 139 for seven in their alloted 20 overs.Sunil Narine shone with the ball for West Indies with figures of three for 20 from his four overs, which included the penultimate over of the New Zealand innings in which the off-spinner conceded just three runs besides picking up a wicket.Earlier, pacers Doug Bracewell and Tim Southee came up with superb bowling efforts to help New Zealand bundle out West Indies for a lowly 139.New Zealand’s decision to field first produced the desired result as the Kiwi bowlers managed to frustrate the opposition batsmen throughout. Southee (3/21) and Bracewell (3/31) claimed three wickets each, while Nathan MuCullum took two for 19 to end Windies’ innings in 19.3 overs.advertisementlast_img read more

Gov’t to Partner with Church on Social Intervention Programmes

first_img Prime Minister, the Most Hon. Andrew Holness, says the Government will be partnering with faith-based organisations to undertake social-intervention initiatives in communities that are impacted by crime. Prime Minister, the Most Hon. Andrew Holness, says the Government will be partnering with faith-based organisations to undertake social-intervention initiatives in communities that are impacted by crime.Mr. Holness, who was speaking to Seventh-day Adventist leaders at the Western Jamaica Conference Centre in Montego Bay on September 24, commended the Church for the work that it is doing at the community level, particularly in the Zone of Special Operation (ZOSO) in Mount Salem, St. James.“We have to draw on the spiritual powers of the church,” he said.“We have to put on the whole armour to fight this spiritual evil. The Government is willing and the Government is embracing the opportunity to work with the church to implement social-intervention programmes, especially in an area like Mount Salem, which has been declared a zone of special operations,” he added.“The ultimate intervention… the most powerful intervention known to man is when the institution of the church inspired by God… gets involved. I want to thank you for your efforts. Let us now start to reach the souls of man and to turn them away from evil,” he noted further.The Prime Minister said the greatest transformation he has seen in the lives of people is when they change their way of life by turning to God.“We see it every day. We have seen vicious killers changing their lives for the better. I am asking you as members of the church to continue to mobilise and get into these communities where we can interact and get persons to move away from crime and be productive members of the society,” he urged.Meanwhile, the Prime Minister said the presence of the security forces has greatly minimised the opportunity for crime in Mount Salem.He is urging persons to provide information leading to the recovery of weapons, noting that a big reward is being offered.“You don’t have to worry about being identified… . Your information will be safe, and you will be rewarded,” he assured. Story Highlightscenter_img “We have to put on the whole armour to fight this spiritual evil. The Government is willing and the Government is embracing the opportunity to work with the church to implement social-intervention programmes, especially in an area like Mount Salem, which has been declared a zone of special operations,” he added.last_img read more

Record number of nominations for APTN National News

first_imgAPTN NewsAPTN National News and APTN Investigates have been nominated for nine awards presented by the Canadian Association of Journalists (CAJ).The annual awards are presented for outstanding investigative journalism in Canada for the previous year. Recipients will be announced on May 5 at the CAJ gala and conference in Toronto.“My whole team works tirelessly to tell those stories which are important to Indigenous people and all Canadians. The work they do every day is changing the landscape of Canada, by educating the public and building a new understanding of the country we live in,” said Karyn Pugliese, executive director of News and Currents Affairs. “It is so rewarding to see their hard work recognized by their peers at the Canadian Association of Journalists.“Congratulations APTN nominees,” she added.Journalists Kenneth Jackson and Willow Fiddler are recognized for their work in the Scoop Category for bringing forward new information on the case of teen Tammy Keeash who drowned in Thunder Bay.Fiddler has also been nominated for the CAJ’s new Emerging Indigenous Journalist Award for her heartbreaking story about a Thunder Bay woman who was given weeks to live after she was struck with a trailer hitch thrown from a passing vehicle.Jackson also got the nod for Daily Excellence, for his story about the deaths of three young Indigenous girls at Ontario group homes.Journalist Kathleen Martens was also nominated for two entries, both APTN Investigates episodes. Article 23 explored at the inequality of employment in Nunavut was nominated in the CWA CANADA/CAJ award for Labour reporting.Martens’ Truth? Or Reconciliation an hour-long special about how the Indian Residential Schools Settlement failed survivors is up for the Open Broadcast News award. She shares the nomination with APTN Investigates executive producer Paul Barnsley and producer Holly Moore.Trina Roache appears in the JHR/Human Rights reporting category for In the Shadow of the Dam, her take on the Muskrat Falls protests- her first episode for APTN Investigates.Cullen Crozier is also recognized for Against their Will  in the same category.  In his APTN Investigates episode, Crozier exposed the forced sterilization of Indigenous women in a Saskatoon hospital that has now led to a class action lawsuit representing more than 50 women.Veteran APTN Investigates video journalist Rob Smith is also recognized in the Open Media category for Killer Pain which goes street level to the opiod crisis in Vancouver.Moore is also in the Open Media category for The cure was worse, bringing the total number of nominations for Investigates to six.“I’m incredibly proud of all the nominees and once again grateful for the opportunity APTN has provided to create and manage its investigative team.” said Barnsley. “I think today proves the talent pool of Indigenous journalists is deep.”“We’ve had several hugely talented and highly valued team players move on to other roles at APTN and yet the show keeps improving and punching far above its weight as reinforcements arrive and add their talent and passion to the mix.”news@aptn.calast_img read more