BOREWELL IN GOTTIGERE 2016

Recently borewell was dug up in my apartment. It was dug up in the month of May.
We found water at 1221 feet. Yes, very deep. Totally we dug up 1257 feet.
It took 29 hours to reach 1257 feet.
The water source is 1.5 inches.

We are yet to push the motor in. Would keep you guys posted with the details like total cost , yield etc.

Nandi Housing Project : Nandi Retreat

Felt it would be nice to share my experience to reviewing Nandi Retreat project of Nandi Housing Group.

On Sep18 2012:
I checked Nandi Retreat in Gottikere yesterday. They are charging 3500 psf. Apartments are in the dimension 1030 , 1000 and 990. The place is quite isolated. Its very close to gottikere lake. The site also seems quite small. This must be the smallest project undertaken by Nandi group.
On the good side the floor plan is very nice.

On May 15 2013:
Close to booking Nandi Retreat project in Gottikere.  Its 1.3 kms from bannerghata road if you enter through Radclif school on gottikere. If you go through the road after Meenakshi Mall, its 2.6 kms. The roads connecting from Bannergata road and from Meenakshi Residency is in good shape now.

Note:
In 6 months a lot has changed in the area. Lots of new projects coming up.

National Pension Scheme

NATIONAL PENSION SCHEME [NPS]

Guess most of us have not heard about this scheme. Its largely because Financial Institutions and Agents are not promoting it owing to less commission.

Explain New Pension Scheme?
The NPS was introduced by the government last year to give people a way to get a pension during their old age. Employees of the government sector already get a pension, so this scheme was introduced as a social security measure that enables people from the unorganized sector to draw a pension as well.



The working mechanism is quite simple – you contribute a certain sum every month during your working years, which is then invested according to your preference. You can then withdraw the money when you retire, which is currently set at 60 years old.
When I say you invest according to your preference, I mean that there are a couple of different options that you need to select from. These options pertain to your preference on withdrawal, and asset allocation.




Explain  Tier I and Tier II accounts in the NPS?
The NPS is meant to be a pension scheme, so it is geared towards giving you a steady stream of income on your retirement.
That means that NPS makes it difficult to withdraw your money during your working years or till the age of 60 in this case.
Tier I and Tier II are two options under the scheme where you can invest your money, the primary difference between them is how they differ in allowing you to withdraw your money before retirement.




NPS Tier I
There is severe restriction on withdrawing your money before the age of 60, because it is necessary to invest 80% of your money in an annuity with Insurance Regulatory Development Authority (IRDA) if you withdraw before 60. You can keep the remaining 20% with you.
When you attain the age of 60, you have to invest at least 40% in an annuity with IRDA; the remaining can be withdrawn in lump-sum or in a phased manner.




NPS Tier II Account
The first thing about the NPS Tier II account is that you need to have a Tier I account in order to open a Tier II account.
The Tier II account makes it easy for you to withdraw your money before retirement because there is no limit on the withdrawals you can make from the Tier II account.
You need to maintain a minimum balance of Rs. 2,000, and you can transfer money from the Tier II account to Tier I account, but not the other way around.
There is a Rs. 350 CRA (Credit Record Keeping Agency) charge which is not present in the Tier II account, but the rest of the fees remain the same.

Fees and Costs related to the NPS

I talk about expenses a lot here, and the expenses on the NPS are really low. The annual fund management charge is 0.0009%, which is probably the lowest in the world.

What is the minimum amount needed to invest in the NPS?

For a Tier I NPS account you need to contribute a minimum of Rs. 6,000 per year, and make at least 4 contributions in a year. The minimum amount per contribution can be Rs. 500.

Minimum amount for opening Tier II account is Rs. 1,000, minimum balance at the end of a year is Rs. 2,000, and you need to make at least 4 contributions in a year.

What are the tax implications of NPS?

The revised Direct Tax Code proposes to make the NPS tax exempt at the time of withdrawal. Initially NPS was going to be taxed at the time of withdrawal, and that had put it at a disadvantage to other products like ULIPs and Mutual Funds. But the revised code proposes it to be exempt from tax, and that really adds to its lure.

How to open a NPS account?

You can open a NPS account by going to the bank branches of the banks that are authorized to sell this.

Ex:

Axis Bank Ltd

State Bank of India

State Bank of Mysore

LIC of India

Central Bank of India

IDBI Bank

Conclusion

This is quite a good option for people who wish to invest for their retirement, and the government has done good to come up with such an option. It is still early days for the scheme so there are going to be some teething troubles, and I am sure you have come across several articles that write the NPS off completely, or suggest major changes.

HOW TO BUY A TELEVISION

Step in to a store to buy a new TV and you are greeted by intimidating array of flat screens playing everthing from saas-bahu programmes and movies to cricket and football matches.

There are four major types of TV’s available in the market today. They are PLASMA , LED  , LCD and CRT.

PLASMA TV:

These offer the best colours and widest viewing angles and in fast moving pictures , motion blur or ghosting is almost non-existent. However, Plasma consume three times as much power as LED, LCD Tv’s. Repairing of these TV is also quite costly.

Price : 35000 Rs to 3.2 Lakhs

LED TV:

These TV’s are much sleeker and the most power efficient. Images are sharp and structure finishing is smooth. But the disadvantage is that the colours can be uneven at times.

Price : 28000 Rs to 1.5 Lakhs

LCD TV:

It provides smooth picture quality and is power efficient. It again supports rich colours. But at times can overlap. Its prone to ghosting while watching sports or playing video games.

Price : 20000 Rs to 70000 Rs

CRT TV:

Its the old Cathode Ray Tube system. Its major point is its cost advantage. Its very cheap. Manufacturers are trying hard to dispose it off as soon as possible.

The disadvantage is big size, high power consumption, parts to repair becoming redundant, mono system, ghosting and less range in colors.

April Vegetable Price in Bangalore

I have gathered and listed vegetable prices as available on April 16 and April 21:
Source Bigbazar : Jayanagar 9 Block

April 16 2012

Capcicum: 58 Rs /Kg 
Beans : 55 Rs/Kg  ,
Potato : 16 Rs/Kg ,
Brinjal 28 Rs/ Kg
Tomato : 26 Rs / Kg
BottleGoud : 19 Rs /Kg ,
Onion 11 Rs /Kg
Madras Cucumber : 34 Rs/Kg
Cocunut : 13 Rs


April 21 2012

Tomato : 20 Rs/Kg
Gourd Snake : 30 Rs/Kg
Coriander : 4 Rs/Kg
ARBI (Crocienia) : 36 Rs/Kg
Ladies Finger 36 Rs/Kg
Brinjal : 26 Rs/Kg
Pudina : 3 Rs/Piece
Green Chilli: 41 Rs/Kg
Curry Leaves: 3 Rs/Piece
Lemon : 90 Rs/Kg
Onion : 11 Rs/Kg
Potato : 16 Rs/Kg
Coconut : 13 Rs


Prices have shot up for a lot of vegetables on account of summer.

Make Fiscal Year Resolutions

As we enter the new fiscal, I would like to list some simple yet effective steps you can take to keep tabs on and improve your financial goals...

Set specific Financial Goals:

Consult your family members to chalk out what your family’s long-term financial goal should be. Then if needed consult a financial planner about how to achieve those goals. Some of the important things to take care are of here are to remain realistic about the goals, and keep the plan and the portfolio simple.

Regularly Check Your Financial Health:

You take care of your and your family’s health and probably go for regular check-ups. Remember to do the same with investments. Revisit regularly the status of your investments to see if they are aligned to your long-term financial goals.

Write down all investment related information:

Maintain a notebook or a diary for this. When you make the investment – be it a mutual fund, stocks , bonds , gold or any other asset class – write down the rationale for investing in the particular asset. It should also contain the expected rate of return which should help you achieve your financial goals.

Also write down the information that you believe are important to your investment decisions, and keep updating it as and when you find some-thing relevant. Flip through its pages once in a while.

This should help you evolve into an educated and alert Investor.

Keep All Investment Papers in Order and Updated:

This is as critical as investing. Keep all your mutual fund account statements updated and at one place. Be careful to update your contact details with the companies with which you have investment related relationships, like mutual fund houses , broker , insurers etc.

Make sure you read all the papers, documents and letters that are sent to you from these companies. If you don’t understand something reach out to your investment adviser or the companies directly.

Be Prepared to Fight for Your Rights as as Investor:

With the number of companies offering investment products growing, along with the number of investors, there is bound to be some investment related problems.

In case you are an investor facing such a problem, be sure to address the problem without much delay.

Approach the right forum to resolve it. It it’s not resolved on time, or to your satisfaction , escalate the problem to the next level.

Saving Account Looks Attractive

With the announcement in Budget 2011-2012 that interest up t 10K would not be taxed, Saving Account looks far more attractive.

There are three main reasons to consider Saving Account than Fixed Deposits right now
 i)  Interest up to 10K is tax free
ii)  Higher interest rate provided by YES and Kotak Mahindra.
     They offer 6% for deposits over 100K.
iii) High liquidly offered By saving account.

I am listing below , the rates offered by various banks on Savings Account:

 

Bank	SB A/c Intt Rate(as on 24.10.2011) %	SB A/c Intt Rate as on 21.03.2012 (w.e.f) %
Allahabad Bank	4.00	4.00(25.10.2011)
Andhra Bank	4.00	4.00(25.10.2011)
Bank Of Baroda	4.00	4.00(25.10.2011)
Bank Of India	4.00	4.00(25.10.2011)
Bank Of Maharashtra	4.00	4.00(25.10.2011)
Canara Bank	4.00	4.00(25.10.2011)
Central Bank Of India	4.00	4.00(25.10.2011)
Corporation Bank	4.00	4.00(25.10.2011)
Dena Bank	4.00	4.00(25.10.2011)
IDBI	4.00	4.00(25.10.2011)
Indian Bank	4.00	4.00(25.10.2011)
Indian Overseas Bank	4.00	4.00(25.10.2011)
Oriental Bank (OBC)	4.00	4.00(25.10.2011)
Punjab & Sind Bank	4.00	4.00(25.10.2011)
Punjab National Bank	4.00	4.00(25.10.2011)
Syndicate Bank	4.00	4.00(25.10.2011)
UCO Bank	4.00	4.00(25.10.2011)
Union Bank Of India	4.00	4.00(25.10.2011)
United Bank Of India	4.00	4.00(25.10.2011)
Vijaya Bank	4.00	4.00(25.10.2011)
State Bank Of India	4.00	4.00(25.10.2011)
State Bank of Bik & Jaipr	4.00	4.00(25.10.2011)
State Bank Of Hyderabad	4.00	4.00(25.10.2011)
State Bank Of Mysore	4.00	4.00(25.10.2011)
State Bank Of Patiala	4.00	4.00(25.10.2011)
State Bank Of Travancore	4.00	4.00(25.10.2011)
ICICI Bank Ltd	4.00	4.00(25.10.2011)
Axis Bank Ltd.	4.00	4.00(25.10.2011)
IndusInd Bank Ltd.	4.00	5.50(01.11.2011)
Yes Bank Ltd.	4.00	6.00(25.10.2011)
HDFC Bank Ltd.	4.00	4.00(25.10.2011)
Kotak Mahindra Bank	4.00	6.00(25.10.2011)

 I am planning to contact Kotak Mahindra and Yes Bank in the coming days. Rates are excellent.