photo by RedAgenda

In recent times builders have been offering residents of old buildings a handsome amount to get a refurbished flat with additional space.

Who will not grab such a tempting deal? The flat seller not only gets the cash, but also gets a monthly rent for his temporary accommodation. Once the new property is ready, he gets a refurbished, newly-constructed flat, in place of his old one.

Builders do so to redevelop the property and add additional floors to a particular building. They earn money by selling the additional flats. The money paid by the builder to the existing residents depends on whether he asks the resident to shift temporarily or permanently. [Read more]

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Check out some really interesting articles at the 79th edition of the Carnival of Money Stories hosted by LAL. Hoping these stories will give you some great personal finance ideas and distract your mind from the market.

LAL will also be even hosting the Finance Fiesta this week, so feel free to submit a post here.

The Orange Paper’s post Power of Compounding has made it in the Investing section of the carnival

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photo by Gaeten Lee

You might be aware of the recent rumor on the street regarding ICICI Bank and how people queued up at the bank/ATM to withdraw their money. [Read more]

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photo by coloros

In January 2008 SEBI abolished entry load on Indian equity funds if you’re investing directly. However, it is mandatory to pay an entry load of 2.25 percent if you transact through intermediaries, better known as distributors who take this charge to service investors.

Suppose you are investing Rs 1000 and the NAV (net asset value) of the scheme that you are buying is Rs 10. This NAV is multiplied by 1.0225 (2.25 percent of Rs 10) to factor in the entry load and operative NAV for you becomes Rs 10.225 (Rs 10 as the actual NAV and Rs 0.225 as the entry load). [Read more]

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