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Real estate relief for stalled projects on the way
The real estate sector relief expected this week may include solutions for stalled housing projects for the stressed home buyers where projects could not be completed due to funding issues, official sources said,
There have been demand for as stress fund to deal with stalled projects and bail out lakhs of stuck homebuyers from both home buyers and builders side. There will be solutions on those lines , sources said without divulging if it would be Rs 10,000 crore stress fund as sought.
Another official said stressed fund do exist in many countries but owned by private sector adding there are several ways to provide liquidity in the lendings to the sector which is not necessarily through only a stress fund.
Stress funds are a global phenomenon and are present in nearly every mature market. But many of them are private funds.
In August government announced more credit support to housing finance companies where it extended additional liquidity support to HFCs by the National Housing Bank, which has been increased from Rs 20,000 crore to Rs 30,000 crore.
In her meeting with the sector representatives, Finance Minister Nirmala SItharaman had met with the two apex realtors’ industry bodies CREDAI and NAREDCO, and the second with homebuyer associations, to discuss the issues concerning the real estate sector and steps to be taken to strengthen the industry.
The government is also likely to make changes to the definition of affordable housing as sought by developers so that more projects can come under the category. Further, bank loans for developers, which have always been an issue as banks try to avoid lending to developers, may witness some favourable changes. Developers and distressed home buyers had suggested to the government that a fund be set up for completion of stalled projects.
Further, the real estate sector also received a shock after the National Housing Bank recently asked housing finance companies to stop funding under the subvention scheme. The government is likely to ease the recent direction in favour of developers.
Last month industry body NAREDCO had raised the need for a ‘stress fund’ before Sitharaman. If the government agrees to float such a fund, it could become the last-mile capital for large unfinished projects. Home buyers’ body — Forum For People’s Collective Efforts (FPCE) — also wanted Rs 10,000-crore ‘stress fund’ in budget to complete stalled projects. Their view is it is time now to end this problem by creating a ‘stress fund’ to the tune of at least Rs 10,000 crore to complete stuck real estate projects on pan India basis.
The real estate sector is facing multi-year slowdown in demand due to various reasons including tight liquidity situation, default by many builders and elevated level of prices.
The industry is expecting the government to address their concerns regarding liquidity crunch, demand slowdown and stalled projects. Industry bodies have said that the unrest in the sector is due to the of liquidity crunch and poor sales, and demanded that banks and NBFCs should be encouraged to fund projects. The industry fears bad situation during the coming festive season when generally demand is higher.
Saaho Director Sujeeth Hospitalized
Sujeeth Reddy the beleaguered young director of Saaho, was hospitalized on Saturday morning in Hyderabad.
He is suffering from an attack of dengue fever and is expected to recover in a few days.
According to a source close to Sujeeth there was no initial need for hospital care, “When Sujeeth was diagnosed with Dengue he was fine with staying at home and recovering under his mother’s care. But on Friday night his condition worsened, and he thought it best to get himself admitted into a hospital.”
Adding to his physiological condition is the brutal criticism that Sujeeth suffered for his chaotic and apparently plagiarised direction of Saaho.
Says the source close to Sujeeth, “He has been under severe stress because of the intense almost personalized backlash. Sujeeth’s physical condition has worsened due to the harsh treatment he has been subjected to by critics who think he has done disservice to Prabhas’ superstardom.”
Stardom: The North-South Barrier
The Indian film industry may be the biggest in the world and the South film industry, combined in itself, outnumbers the Hindi films produced.
The South has four main languages in which the films are made: Tamil, Telugu, Malayalam and Kannada.
While, all South actors are content ruling the roost locally, crossing the regional language barriers only on rare occasions, they have aspirations and ambitions to make it to Hindi films. That would mean universal acceptance and recognition which the Hindi film medium offers.
Similar is the case when it comes to female artistes. While in most cases, it was the Hindi film producer who sought out a South Indian female star, in the case of male actors, their Hindi foray came through some or the other South Indian filmmaker making a Hindi film. This was because, the familiarity between the two, the actor and the producer as well as the ease of communication. This also benefitted the producer in that, a Hindi film with a South actor in the cast, also opened up the South market which, otherwise, gave very limited exposure to Hindi movies.
Take the example of Kamal Haasan. He was brought to Hindi films by the legendary filmmaker, L.V. Prasad with “Ek Duuje Ke Liye”. Similarly, Rajanikant made his Hindi debut with another South producer, A. Poornachndra Rao with “Andha Kanoon” along with Amitabh Bachchan. The idea was that, as mentioned earlier, cast the best of both the worlds, North and South.
Chiranjeevi, the Telugu superstar of his time, was launched by his brother-in-law, Allu Arvind. Mukesh Udeshi, who dubbed South films into Hindi among his other businesses, was the co-producer. His Hindi debut film was titled Gentleman, a big hit.
Dr D. Rama Naidu, a prolific filmmaker from Telugu Industry, produced around 150 films in various languages, over a period. He started off his Hindi film making in a joint venture with the reputed South banner, B. Nagi Reddi’s production house, Vijaya Productions with “Prem Nagar”. The film, starring the reigning superstar Rajesh Khanna with Hema Malini, marked the glorious entry of Dr Naidu into the Hindi films. Dr Naidu’s sons were doing well in the family business as the oldest, Suresh, looked after the production and the younger, Venkatesh (Venky) had turned out to be a successful hero. So why not launch Venky in Hindi films?
Venky was launched opposite Karisma Kapoor in “Anari”, which was a hit. Next, Dr Naidu wanted to launch his grandson, Rana Daggubati. He wanted to see if Rana’s debut Telugu film was a success so the same could be remade into Hindi. That was not to be and Rana’s debut came with “Dum Maaro Dum” in 2011, where he did not lead the cast and the film went generally unnoticed. Rana now keeps doing an odd Hindi film. However, he played an important though a negative role in “Baahubali” which has brought him back in the limelight.
Another South actor ready to be launched was Nagarjuna, also from a renowned South film family of A. Nageshwar Rao. Ram Gopal Varma launched him in Hindi with “Shiva”, a remake of his acclaimed Telugu film, “Siva”. Having watched “Siva” one knew that even its Hindi version would be a hit, too. And, it was. The film also brought to Hindi cinema a stylised villain from the South in Raghuvaran. But, both could not go far in the Hindi cinema.
The trend was to play safe and launch a star in a Hindi film with the remake of a South language film. During this time, other heroes from the South also tried their luck with Hindi films. These included Ambareesh and Vishnuvardhan from Kannada industry and Mammootty from Malayalam films. The trend continues through the involvement of the South filmmakers in Hindi films is now almost non-existent!
The one-film wonder with the South stars continues as we have seen actors like Kamal Haasan, Rajnikant, Chiranjeevi, to the present day aspirants like Siddharth, Dhanush, Suriya and others. They come and go. Madhvan is the only South star who continues to get assignments though not as a solo hero. While the other South heroes could not make a mark on the Hindi screens, the one who survived for the longest time was Rajanikant. This is because, Rajanikant did most of his films with other, established Hindi film heroes. In fact, most of his films were multi-starrer. That helped. What also marred the careers of these stars from the South was that, after they gained some recognition in Hindi films, the market was flooded with their films from South dubbed into Hindi by those wanting to cash in while it lasted.
But when it comes to heroines, the South films sourced many. Besides their classy looks, what worked in their favour was that they were usually well trained in classical dancing which made them extremely expressive and just the kind the films made in those days demanded. Those female artistes who made it big in the Hindi film industry include Waheeda Rehman, Vyjayantimala, Leela Naidu, Padmini, Kalpana, Hema Malini, Rekha, Sridevi, Jaya Prada, Meenakshi Seshadri, Tabu, Zareena Wahab, Diya Mirza, Deepika Padukone among others.
While the actors from the Hindi film had no reason to seek work in the South, the Hindi film villains did find a lot of work there. The week past saw the entry of another South star, Prabhas, with the film “Saaho”. The film seemed more about cashing on the popularity of the hero post massive success of his “Baahubali” franchise. The film offered nothing else except Prabhas even while it boasted of a budget of a whopping Rs 350 crore. The moviegoer has not taken well to the film and this is no good news for Prabhas.
Trade: Saaho Picks Up But Not Enough!
As expected, collections of Saaho picked up a bit on Saturday and the trend is expected to continue on Sunday too.
Without any major releases coming out this weekend, it was advantage Saaho at the box office. But thanks to the exorbitant prices it was sold for, the film will need a miracle to go anywhere close to breakeven mark.
Trending on week days made it clear that the film is heading for huge losses in Telugu states. It is already a big flop in Tamil and Malayalam markets. However, its Hindi version turned out to be a success.
Friday release Chichore has taken over control on Hindi box office, but Saaho is into safe zone because of its sensational first weekend numbers.
Jodi starring Aadi and Shraddha Srinath is the only movie from Tollywood to come out this week, but it has gone unnoticed due to poor promotions. There is no respite for Aadi who is in desperate need of a hit at the moment.
Vijay Deverakonda’s next is emotional love story
Hero Vijay Deverakonda has moved onto his next movie under the direction of Kranthi Madhav.
Currently the shooting of the film is going on in Hyderabad and a chase episode is being canned with Kanal Kannan’s supervision.
This is en emotional love story and Vijay is romancing four beauties in this flick. After ‘Malli Malli Idi Rani Roju’ Kranthi Madhav has penned a touching romantic drama and Vijay nails it in this genre.
With the shoot in final stages, the makers are planning to lock the title and unveil the first look at this month.
Creative Commercials banner is producing the movie and has music of Gopi Sundar.
Ali Reza Evicted From Bigg Boss Season 3
Television actor Ali Reza who is popularly known as the ‘six pack guy’ in Bigg Boss Season 3 got evicted from the show according to sources.
Ali, who gets hyper aggressive during tasks escaped getting into nominations for six weeks. He is into the nominations for the first time in seven weeks and audience had shown him the door.
Ali has been one of the trusted aides of Srimukhi in the house. He has shown immense favouritism towards the popular Television anchor and his aggression has crossed the line on more than couple of instances.
He also got warned by the host Nagarjuna for losing his cool at times. Ali’s eviction will be a severe blow to Srimukhi, who uses him as her main weapon during physical tasks.
Meanwhile, Nagarjuna has let go off Srimukhi yet again without questioning her double standards in spite of her blatant lies.
Bigg Boss organizers are once again showing off their biased nature towards certain contestants whom they wanted to be in the house until final week.
pHOTo Alert: Katrina’s Killin It!
Katrina Kaif posted a picture for her fans on Sunday morning that is being bombarded by likes and comments from millions of followers.
She posted it as a part of brand promotion and Katrina is looking super hot in a casual attire.
Katrina is looking sexy as hell in the cropped top and denim shorts. The natural sunlight and her pose has added extra spice to this picture.
On the work front, the 36 year old is busy with Sooryavanshi starring the unstoppable Akshay Kumar in the lead role.
Fact Sheet: Yes to Yadav, no to Reddy
Former Deputy Speaker of Telangana and Medak MLA Padma Devender Reddy faced a humiliating experience at Pragathi Bhavan on Saturday.
A farewell function was organised in honour of the departing Governor Narasimhan.
Padma Devender Reddy who came for the event was prevented from going in by the police who said that they had instructions that the programme was not open to MLAs.
Even as a disappointed Padma was contemplating her move, she was shocked to see the police make way for Talasani Sai Kiran Yadav, son of Minister Talasani Srinivas Yadav.
Sai Kiran had recently contested the Lok Sabha polls for Secunderabad and lost to Kishen Reddy of the BJP. Moral of the story? A Minister’s son is more powerful than an MLA.
But one thing is for sure, if KCR keeps treating his MLA s and MPs in this fashion, he is only asking for trouble.
Exclusive Pic: Gaddalakonda Ganesh From Valmiki
Varun Tej is rocking the retro look in Valmiki set in the eighties. He is playing the character named Gaddalakonda Ganesh, a ferocious villain with a colourful past.
Here is an exclusive picture of Varun Tej from the flashback portions in Valmiki.
Varun’s looks have been receiving superb response from fans and others as well. Valmiki is set to hit the theaters on Sep 20.
Director Harish Shankar has adapted the core idea from Jigarthanda and is presenting it in his own style.
BJP to go aggressive on ‘MODIfied’ 100 days
New Delhi: As Modi 2.0 completed its 100 days over the weekend, the government will hold a press conference at 2.30 p.m. on Sunday to list its achievements, as earlier reported by IANS.
Sources say, the three issues the government will focus is abrogation of Article 370 and bifurcation of Jammu and Kashmir, UAPA Bill and finally the triple talaq bill. The government is also expected to list the changes it has recently made to rejuvenate the state of the economy in India. Union Minister Prakash Javadekar will hold the press conference.
A government source earlier told IANS, the effort will be to put an image of a ‘nirnayak sarkar’ or ‘decisive government’ that isn’t afraid of taking tough decisions.
Meanwhile, BJP President Amit Shah already set the tone in a series of tweets where he congratulated Narendra Modi. Calling Modi Sarkar “synonymous with national security, development and welfare of the poor”, Shah hailed Prime Minister Modi for his “historic decisions” in the first 100 days.
“Whether it was the decision to remove Article 370 & 35A from J&K or to free Muslim women from the curse of Triple Talaq or strengthening nation’s security apparatus by amending the UAPA Act..,. All these historic decisions are a result of PM Modi’s decisive leadership. #MODIfied100”, tweeted the BJP President.
