Luxury and Recession

http://www.mid-day.com/opinion/2009/mar/060309-Ashish-Jagtiani-Radio-One-RJ-economic-slowdown-subjective-business-global-meltdown.htm

I found the above item very interesting. It has certainly made my mind more firm, as to why the rates of property havent fallen in the suburbs in recent times. Compared to South Bombay prices, which have fallen almost 50% , the rates in suburbs are hardly down by 10% yet. We are seeing a lot of South Bombay families moving to the suburbs. For them selling their property over there and moving over to the suburbs is akin to a status issue. So they are purchasing new properties in state of art building, with best amenities, amenities, which a few south Bombay buildings might also not be offering. In doing so, they dont mind paying the current market rates. This might have certainly led to stabilization of rates. 

I was recently informed about a certain gentleman, who had his 50 lacs forfeited which he had invested as a token in a property deal worth 5 cr in Dubai. The fact being that the same property had now fallen to 2.5crs. No he didnt sit tight on his losses, he purchased the property for 2.5crs, added the 50 lacs to the purchase price, and is not stating, ok my property costed me 3 crs, which he feels is still recoverable over a period of 5-10 years, compared to recovery against 5 crs. His statement is that from here even if the prices fall further, it will still be ok compared to original purchase price of 5 crs. Smart person.

IPL Vs Indian Elections-the losers.....our Indian Security personal

Our Home minister has expressed concerns over the management of security after the attack on the Sri Lankan cricket team in Pakistan. He feels that the postponement of IPL matches will be a better idea since it will be difficult to provide security for both the events. IPL ofcourse has put its foot down, since it has already committed itself financially to the advertisers and the team owners. Financial losses will run into crores. It wont be surprising if there is change of heart by our Home Minister before the final decision has been taken. After all crores of rupees are at stake.

The Government is concerned with its elections. The IPL is concerned with its matches. What the politicians earn after being elected is anyones guess. What IPL earns is an open secret. What the security forces will earn is nothing!!!!!!!!!!!

They will be on guard during the elections, during the IPL matches. If unfortunately there is any incidence during eighter it will be blamed on their lack of preparedness. If unfortunately anything happens, it will be our security people who will be losing their lives. If nothing happens, they will be back to their barracks, earning the same amount which they usually earn, while our politicians and Cricketers will be raking in moolah.

Mr. Home Minister, give some thought to this point also.

5 years down in a drain?

I have got this habit of being ahead in a crowd. Of trying to be the spokesperson. In school I have been a monitor for so many years. In my college, I have been active in the elections for a few years. Now in my building, I have been the Secretary for almost 5 years. It is out of interest if nothing else. But with responsibility comes certain rules. With responsibility comes times, when you have to be outspoken, when you have to inform somebody that certain things cannot be run in certain ways. And in doing so, somewhere maybe I have hurt some feelings. I hold nothing against anybody ever. I always end the matter there and then and forget about it. But it seems some people don't. And now they have got a point against me. A point, which even they know,when confronted with against 40 members, wont be supported, but when taken as per law is wrong. The point is that I am not a owner of the flat and law does not permit a non-owner to contest elections or hold post in the managing committee. A law which if followed properly thru document again allows the person to contest the elections and hold a post. But then its for fresh elections. And as per the said law it does not allow me to remain in the post. I am not post hungry. No. What is bugging me is the 5 years I have given to my building have gone down in a drain for a few people. The time I could have spent with my family, I have wasted for such stupid people. Others are in support, but then when the word LAW comes ahead, I would not like them to fall in trouble. I love working for my building. I would love to continue for the people who have placed their trust in me. Who like me were ignorant of such a law. But they are also helpless now when confronted with such technicalities. It is said that you speak a truth , chances are few will listen to you. Your shout a lie on the rooftop, and people will listen. This is what is happening. Voices are being raised and practicality is being lost. Constructive work is being ignored and we are wasting our time on foolish fights and points. I have no other option, but to put in my papers. But after resigning, frankly I doubt, I would ever like to work again in the society infested by such leaches. I do regret that the leaches are far too less, and good people are many. But the bite of these leaches is always painful.

Frankly the fighter in me still wants to stand up and fight. But.......