REAL ESTATE

Huge unsold housing inventory across 35 cities in the country is one of the key reasons for the Great Indian Economic slowdown, according to former chief economic adviser Arvind Subramaniam. In a working paper titled "India's great slowdown- What happened? What's the way out?", Arvind Subramaniam estimates that this vacant real estate inventory has locked up funds worth Rs 13 lakh crores, resulting in huge unpaid loans to banks. "While developers could in principle tempt buyers by reducing prices, they couldn't do that in practice because lower prices would have destroyed the (notional) value of the collateral that they pledged…

Huge unsold housing inventory across 35 cities in the country is one of the key reasons for the Great Indian Economic slowdown, according to former chief economic adviser Arvind Subramaniam. In a working paper titled "India's great slowdown- What happened? What's the way out?", Arvind Subramaniam estimates that this vacant real estate inventory has locked up funds worth Rs 13 lakh crores, resulting in huge unpaid loans to banks. "While developers could in principle tempt buyers by reducing prices, they couldn't do that in practice because lower prices would have destroyed the (notional) value of the collateral that they pledged…

On November 27th, a tweet by Ashok Khemka, principal secretary of the Science and Technology Department, caught the attention of netizens and media, though one cannot call it entirely surprising. A senior IAS officer of the Haryana cadre, Khemka was already known to be Haryana's second-most transferred bureaucrat (52 times in his 27 years of service) and shared news of his 53rd transfer through this tweet. https://twitter.com/AshokKhemka_IAS/status/1199625574173462528 Khemka, born in Kolkata** and an alumnus of IIT Kharagpur, shot to limelight through a series of exposés, including the Robert Vadra DLF land grab scam, Sonepat-Kharkhoda IMT land scam case and Garhi…

On a scalding hot afternoon, a petite, dainty woman stands at a small shop in R A Puram, counting the change she has to return to her customers. Her bangles clink as she swiftly wraps some eggs and then hands it over to the customer along with the change. With her saree pallu tied at her hip, she toils to the sound made by the jangling of her armlets. “I had sold bangles like these to buy this shop. They were made of gold. It has been 10 years now, but I don’t regret it,” says Ponnarasi, recalling times past.…

Far from Myanmar, their homeland, here they feel safe, but these 85 Rohingyas are not at home in the refugee camp in Kelambakkam. Dingy rooms that barely have ventilation, narrow stairways, cluttered spaces and untidy surroundings -- the camp located on the outskirts of Chennai paints a sorry picture. The deplorable living conditions probably don't bother the Rohingya Muslims as much as they should, for they are happy to be alive. But does it give them a decent quality of life? No. Space is the biggest constraint, a factor that is driving many refugees away from the camps. Each room is…

When Chandra, in his late sixties, decided to invest his life’s savings in a house in Hyderabad, the builder promised to hand over possession of the new home in December 2018. But with the project nowhere near completion, Chandra has now been promised possession in March 2020. And lives in the hope that if even that date is not kept, the builder will pay him interest on the amount he has deposited, as the new Real Estate Regulation Act (RERA) mandates. Passed with much fanfare in 2016, RERA was supposed to protect home buyers like Chandra from unscrupulous builders, especially…

A misguided water policy, rapid unfettered urbanisation, lack of vision and a growth model characterized by indiscriminate greed is killing Mumbai and depriving the city of its basic right to quench its thirst. The 1.2 crore residents of the megapolis currently face a 10 percent water cut, effective since November 15, 2018. Mumbai is no stranger to water cuts but the rationing started much earlier this year than in previous years, months before the scorching summers were due to set in. This was to make up for the less rainfall this year. The city received 13.13 million litres of surface…

A misguided water policy, rapid unfettered urbanisation, lack of vision and a growth model characterized by indiscriminate greed is killing Mumbai and depriving the city of its basic right to quench its thirst. The 1.2 crore residents of the megapolis currently face a 10 percent water cut, effective since November 15, 2018. Mumbai is no stranger to water cuts but the rationing started much earlier this year than in previous years, months before the scorching summers were due to set in. This was to make up for the less rainfall this year. The city received 13.13 million litres of surface…

Translated by Sandhya Raju பொய்த்து போன மழையினாலும் வெகுவாக குறைந்து வரும்  நிலத்தடி நீராலும்  கோடை காலம் வரும் முன்னரே தண்ணீர் தட்டுப்பாட்டை சென்னை மக்கள் உணர ஆரம்பித்து விட்டார்கள்.  சென்னை குடிநீர் வாரியமமும் ஒரு நாள் விட்டு ஒரு நாள் தான் தண்ணீர் விநியோகம் செய்யும் நிலையில் உள்ளது. சென்னையின் மேற்கு மற்றும் வடக்கு பகுதி மக்கள் தண்ணீர் கிடைக்காமல் ஏற்கனவே அவதி படுகின்றனர். இந்த தட்டுப்பாட்டை சமாளிக்க புது யுக்தியை கையாள வேண்டிய கட்டாயத்திற்கு மக்கள் தள்ளப்பட்டுள்ளனர். 2000-ம் ஆண்டின் மத்தியில் மழை நீர் சேகரிப்பு திட்டம் சென்னையில் செயல் படுத்தப்பட்டாலும், பொய்த்து போன பருவ மழையால் இந்த திட்டத்தின் பலனை உணர முடியாமல் போனது.  உபயோகித்த தண்ணீரை மறுசுழற்சி செய்யும் முறை சமீப காலமாக பிரபலமாகி வருகிறது. இந்த முறையால்  நீரின் தேவையும் குறைகிறது. அதிக முதலீடு இல்லாமல் இந்த மறுசுழற்சி முறையை எளிதாக செயலாக்க…

There was a lot of pomp about the Ridley run that was scheduled to take place on Sunday, February 17th, starting at Palavakkam beach. Save a Turtle group had mentioned on their website that the event aimed to create awareness about the endangered Olive ridley turtle population that come to nest along the Coromandel coast and educate local communities about the ways to protect the hatchlings. Citizens started registering for the event online, sand sculptors had given dates and things seemed to be set for the run. However, two days prior to the event, the organisers called off the run.  Locals…