Sets me thinking – What is it that the British had which we Indians haven’t been able to replicate.

Answer seems to be – “POSITIVE INTENT & TIME BOUND IMPLEMENTATION”

I am not once confused by the British intent Vs. Desi leaders’ direction. Both desired a certain vested interest, as well as the emphasis of their leadership on the so called “aam-janta”. To say the least, both succeeded, and how. Delhi hasn’t created any marquee landmark building, and still boasts of those that the British left for us, to savour, deteriorate and exploit. I have my sense of exasperation when I read that 54% of Delhi is Urban slums and unauthorized colonies.

A spate of recent announcements in Delhi sets me thinking – “are we finally ready to shed the image of an old dilapidated city, one constructed majestically by the British, and left to rot even more majestically”. However, things seem to be changing. Delhi government agencies seem to be taking the “Builder” tag seriously. Moti Bagh, Jawaharlal Nehru Bhawan, Maulana Azad marg, Janpath, INA, Shahdra, Kidwai Nagar, Vasant Kunj, Rajouri Garden and some more areas seem to have caught the attention for rebuilding projects.

• Is that owing to the acute shortage of Ministerial houses?

 • Do our policy makers desire swankier offices?

• Do they expect mega parking & parks for their fleets?

• Is there a genuine awareness, awakening and desire to re-build Delhi.

It is heard that some areas of New Moti Bagh are shortlisted to build ministerial houses, and NBCC is the shortlisted partner who would not only build, but also fund the construction through a unique finance model wherein they would be allowed to sell 10% of the total land area for commercial purpose, in return for the ministerial housing. “The government is now open to the idea of making builders like us construct ministerial bungalows because they want the project to be delivered on time. Also, the government didn’t have funds for the project, so we came up with the idea of building them at our own cost and taking some land to build a commercial complex in return,” said Arup Roy Choudhury, chairman and managing director, NBCC. NBCC has already delivered 50 bungalows and the rest are expected to be completed in a year. Choudhury added, “Players like CPWD are quite understaffed so most of their projects suffer time overruns overtime, so the government is looking for fresh bidders who can have accountability.”

Other initiatives include 7.78 acres of land on Janpath under one of the Green building initiatives of the govt, an office complex in INA consisting of 6 blocks, one of which might house the HQ of CVC, another commercial complex in Kidwai Nagar, One residential pool accommodation project in Shahdra etc. The government is also planning a commercial complex in Kidwai Nagar, though no details are available. The cost expenditure for these projects alone would exceed about 600 crores, as per conservative estimates.

Can expect DDA to be left behind (in announcements only). They also have announced plans for housing complexes in Vasant Kunj Jasola, Dwarka, Narela, Baprola etc; a staggering 65000 residential units with an investment of almost $500 million. Parking lots in many areas like Subhash Nagar, Rajouri Garden, Hauz Khas, Gandhi Nagar, Model Town 2 and Munirka are already under construction with investments of around 200 crores . The project is worth Rs 170 crore.

Now, are these mirages or indicators?

 Both our leading ‘partees’ want to name the newly constructed 28 storey Civic headquarters in the name of some leader of their party. It could be named either “Dr.Shyama Prasad Mukherjee Civic blah blah center” or Gandhi(Sonia,Indira, Rajiv, Rahul, Rahul’s unborn son)  center for invigorating a sense of work culture in Dilli-MCD center” or even plain jane “Gandhi center for civic administration”.

 The new 28 storey building, one of the tallest structures in Delhi costed a MERE Rs. 550 crores of the Tax payers money, and it is of ‘sacramount importance’ that it be named right, for the babu inside to dispense his constitutional duty.

 The Lieutnant Governor (LG) of Delhi is a spoilsport. He just doesn’t understand the sentiments of the aam-aadmi for whom sadak-bijli-paani is a daily fight. The LG has gone ahead and suggested our LEADERS to accept the name ‘NEW TOWN HALL”. How sad. How can now the aam aadmi connect with the civic agencies when the building says “My name is Town Hall”, a la Khan.

If the entire nation was involved in “My name is khan”, do you think that the Chief secretary’s office in Delhi would not accord importance to this issue of national importance?  Sources say that considerable time, paper n think tank exposure was accorded to this ‘issue of national interest’ since two of the parties which ruled us / likely to rule us are hooting for this yeoman cause. There also was an official statement published in the print. Here goes:

 “The L-G has suggested that such an iconic building should not be named after any individual. The ultimate onus of naming the building lies with the state government,” Ranjan Mukherjee, Officer on Special Duty to the L-G, said.

“Based on his (L-G’s) letter, we have written to the MCD commissioner to name the building New Town Hall. It is a befitting name as across the globe no corporation offices are named Town Hall,” Chief Secretary Rakesh Mehta said.

 Now, it is of no consequence that we have already missed the deadline of moving into the new civic center.(don’t blame me, it might be called the OSAMA – Obama, Sonia, Atal, MDMK,atmaram Building) Instead of April’10, the civic agencies would move in after October’10. This gives ample time to check out another submersible monsoons and powerless summer.

It is time we appreciate the stand taken by OUR LEADERS. Both parties remain committed to the aam-admi. They say this:

“The decision of the MCD House is final in this case. Our naming committee will pass a resolution under Section 42 of the DMC act. It will then be introduced in the House,” BJP leader Vijender Gupta said.

“The commitment of the Gandhi family cannot be measured in the context of India. Hence, anything new has to have the “G” word on it”, a close associate of Kaun-gress said.

Ladies & gentlemen of Dilli, take heart. We are being ably led, and civic amenities would follow.

 “Hey !!!! watch that manhole while U tread the roads”.

It may be recalled that many an evictees had been issued ration cards and voter ID cards whilst they were accommodating (encroaching) themselves on government land.

“The decision of the respondents (government and civic agencies) holding that the petitioners are on the right of way and are, therefore, not entitled to relocation, is hereby declared as illegal and unconstitutional,” the bench said, adding all those eligible for rehabilitation should be granted an alternative site as per the Master Plan-Delhi 2021 within four months.

Now, therein lies the big challenge. The Masterplan for Delhi MPD 2021 was notified in Feb’ 2007, and since then many a committees have debated and finally the recommendations have been lying with the Ministry of Urban development. When would the Master plan of Delhi be released for the public? How would the private sector play a role in that? Which are the areas where government and private sector would complement each other with investments?

To understand these, I met Mr. Ramesh Menon of the online initiative, www.delhi-masterplan.com. This is what he had to say.

“How would these plans be implemented before releasing the zonal plans and LAP (local area plans) into the public domain? The recent supreme court judgement of 8th Feb 201 whereby almost 12000 acres of land qualify for acquisition by the DDA also would face stiff resistance in the absence of the zonal plans. It would be in the interest of the public to release the zonal plans so that the investors, sellers and buyers are clear on where to invest”.

As per Menon, the ideal location wherein investment would flow into would be zone ‘N’ of the MPD 2021 which has the ideal mix of clear land, Industrial, PSP corridors and residential areas. It may be recalled that zone N has almost 14000 Ha of land with the ideal mix of green belt, two mega industrial areas, PSP of almost 800 Ha and the Mini India project of about 150 acres.

Though the judgements are landmark in nature, it would place additional stress on the civic agencies and the government, esp. the MuD to act faster in the larger interest of the Delhi-ites.

The master plan of Delhi, in 2007, had given three years time for the polluting industries under 99 categories to either shift, or close down their units within three years. To revisit the Delhi Master plan MPD 2021 which was released in Feb 2007, the notification issued then said – “Industries listed under prohibited category shall not be permitted to be set up in Delhi. The existing industrial units under prohibited category need to relocate themselves outside the Capital within a period of three years.”

Most of these units are located within 22 different Industrial hubs spread across Delhi.  The deadline is getting over in the matter of a few days. Would almost 5000 Industries be disallowed to operate? Shut-down?

Ruchika Bhardwaj, an analyst with the leading consulting firm Certes Realty Ltd avers that “most Industrial consumers aren’t aware of the deadline. They might fall prey to the sudden awakening of the govt. machinery after the deadline elapses”.

It is understood that the Ministry of Urban development and other agencies have had several rounds of meetings to put together a plan. The unfortunate part being “too little, too late”. “It isn’t uncommon knowledge that these polluting industries is not likely to get protection from the courts too, in view of the pollution, the recent judgements and provisions under the MPD 2021″ says Mahipal Jain, an Industrialist with a unit within Delhi.

“Delays in the implementation of the zonal plans under MPD 2021 is the only factor responsible” says Ajay Dabas of Certes. He mentioned that the government had moved the provisions to acquire almost 945 acres of land under three villages in North West Delhi, almost 5 years back. Had the Industrial area been ready, these Industries could have found solace. The MPD 2021 itself mentions that the zone ‘N’ under MPD 2021 is the most suitable for high density developments owing to the topography, as well as the cheaper availability of the lands.

Ruchika avers that “an amendment or Ordinance by the government, to amend or delay to the notification issued by the MuD could be the only factor to buy time for these Industries”. It may be recalled that the Delhi state government might not be the regulator in these matters. The DDA is the implementing agency for the decisions released by the Ministry of Urban development.

The categories of Industries which are likely to be affected by the closure orders, if and when they are released soon include gas compressors, acids, alkalis, animal and fish oils, abattoirs and animal blood processing, bitumen blowing, bone grist, bone meal stainless steel pricking, dry cell batteries, electric wires and cables, fatty acids, fungicides, cranes, hoists and lifts (excluding assembly), flexographic ink, fuel oils, illuminating oils and other oils such as synthetic oil, lubricants, foundries, glass furnace (more than 1 ton/day capacity), gases-carbon-disulphide, ultramarine blue, chlorine, hydrogen, sulphur dioxide, acetylene (other than LPG, medical, CNG and oxygen), limekilns, leather tanning and dyeing (raw hides/skins to semi finish), methanol, methylated spirit, mineral salts which involves, use of acids, manufacturing of diesel engines, generators except assembly, potteries/ refractories (using coal or furnace oil), pyridines, plasticisers manufacturing, polythene polymers including resins, phenol, rubber solution and thinner, saccharine, secondary zinc industry, smelting, sugar, khandsari and vegetable oil hydrogenated.

The moot question however remains – Why is the MuD delaying the zonal plans, and what more time would it take for Delhi to implement the provisions of the MPD 2021. Three years hence, time runneth over.

Myth 1 – Land is a scarce commodity  

Most hoarding or reckless buying of land happens on the presumption that land is a scarce commodity and that it should be bought yesterday. In the Indian context, it is pertinent for the buyer to understand on “why” a certain land is attractive. Our recommendation always hinges on two factors – “demand for finished products on a 5 year horizon” and “Intent & ability for infrastructure development”.

Myth 2 – You need to have Deep pockets

Many an investors misunderstand that land investments entail a whole lot of capital, whereas fact remain that one can invest at varying ticket sizes. The same amount of capital can buy more land, if one can get expert assistance and identify opportunities for growing the money in well researched places.

Myth 3 – land is Land. What’s so specialized?

Anything, and everything related to real estate has a land connect. People generalize land as one asset class. However, there are @ least 20 kinds of land, which can be put to varying uses, and varying yield/ returns. For example, anything from race course, amusement parks, warehouses, commercial, residential, gold courses, resorts, exotic farming etc. can be created on land, but the price of each one of them would be different.

Myth 4 – Price of Land increases gradually.

Limited short terms returns In our opinion, since there aren’t many organized advisory firms specializing in the land business, the one eyed end up criticizing the product, rather than expose their limited abilities. Hence, the myth that land doesn’t yield desired returns in the short term. If invested into the right land, at the right time, at the right price, Land yields are the highest within the Real estate products.

Myth 5 – Instinct and hearsay is enough expertise for land

It is indeed the most misunderstood concept where investors, builders etc. use their common sense approach to identify land assets, rather than engage experts at the ground level to assist them in the endeavour. In the process, there are not enough success stories, especially for the small investor. Land should be bought through someone who understands the local level nuances like area, topography, social and physical infrastructure etc.

Myth 6 – Land is always sold, not bought

 The common practice is to have a “reactive”, rather than “Proactive” approach towards buying land. Most investors look at land assets when someone proposes, rather than make it an ongoing exercise to continually identify assets which would yield the highest returns. Our advice remain not to be restrictive, and choose from 3 options, but to widen the search from macro to micro analysis of opportunities.

We compare land and the other realty assets on three key parameters of Risk exposure, Liquidity terms and ROI terms.

It would be a good idea to share the seven reasons why we feel that investing in land is the best option within real estate compared to the much more “touted & publicised options” of built up spaces in buildings.

Reason # 01       Land is an evergreen, ever-growing asset. Brick & mortar assets like buildings (mall space / office blocks) deteriorate with time, whereas LAND DOES APPRECIATE, with time. Remember, some studies confirm that the value of any commercial building becomes ‘Zero’ in 27 years. Even when the building is useless & demolished, what is left behind is LAND.

 Reason # 02       Land is an asset from day one. It has very little lead time to mature from purchase to progress. For e.g. If you are an early bird buyer for a residential or commercial property, it typically takes 3-5 years for your asset to be registered in your name, and to draw returns from them. One keeps investing money & time for 3-5 years, without returns. Land can be put to interim use to deliver returns.

Reason # 03        Land is one asset which affords the most flexible options, within the real estate products. You can choose to buy any size & dimension, any value, anytime. Besides, land can be put to multiple uses during the period of ownership. Let me elaborate. Agricultural land if invested into; can be used for farming. Post zoning, land use can be changed and commercially used. Anything build on it can be redeveloped, for e.g. the same piece of land could end up being used as warehouse premise, commercial, residential, etc. etc.

Reason # 04       Land affords simple investment management. Once bought, it doesn’t incur high costs compared to built-up products. It is most likely that the land bought is self sufficient in deriving the maintenance cost, whereas, the other products attract a continually incremental maintenance.

Reason # 05      If we analyze the supply Vs demand for real estate products in our country, land as a commodity would remain in demand for the next couple of decades. There is an acute demand for finished products, which would have to be constructed on LAND. Hence, investments in LAND are bound to grow, provided the buying strategy is right. For e.g: Delhi as a city state is forecasted to grow from 136 lakhs to 240 lakhs of population in the next decade. That necessitates almost another few thousands of hectares to be brought under development. Hence, invest in land today, rather than wait for appreciation at a much later date; at much lower returns.

Reason # 06       With the economy projected to grow at a fast rate, and with disposable incomes being higher, aspiration of green living, bigger houses, better amenities, affordable luxuries etc. would take over. Those can be achieved on bigger land chunks being brought under development. Hence, invest in land today.

Reason # 07        Land affords the “right balance in your real estate portfolio”. While investing in real estate, one needs to have a right product mix to hedge the risk, with one or two products which are low on risk and high on returns. That is what land promises to be. Having said the above, we also advise our clients to exercise the right amount of caution and source expertise while buying land. Seek out experts rather than take the ‘gut-feel-approach’. Analyze-understand-replicate success stories in land as a portfolio rather than try to re-write a success story. Remember, all leading developers in our country grew at this scorching pace on valuations, using land as the growth engine.

HAPPY LAND-ing!!!!!!!!!!

The author is the founding Partner of CERTES REALTY LIMITED, a Delhi NCR based Real estate advisory and land consolidation organization and can be contacted on menon@certesrealty.com

Finally, someone has decided to “crack the whip, on oneself, for a cause”. However delayed it might be though.

The Municipal Corporation of Delhi (MCD) has announced the formation of a 11 member committee which would monitor and accelerate the smooth implementation of all the recommendations under the Delhi master plan MPD 2021.

Thankfully, the committee is well represented administratively and politically, which raises a glimmer of hope for the “timely” implementation. The committee would be headed by Mr. Ved Prakash Arya, the deputy leader of the MCD house. The other members of the committee would include Subhash Arya ( leader of house ), R.K.Singhal)standing committee chairperson), Vijender Gupta ( former standing committee chairman), J.K. Sharma (leader of opposition) and some other councillors.

You would recall that the vision of the Delhi master plan, which was notified vide S.O 141 in 2007 is to create Delhi into a “global metropolis and world class city”. Readers would also agree that millions of dollars are being invested towards the same. The human capital required for such a gargantuan task is now being deployed. Or should I say, the ‘political will & capital’ is finally backing up the millions waiting to be invested.

Ajay Dabas, an expert on the Delhi master plan 2021 avers -”Delhi would be the fastest growing real estate opportunity for the 4 levels of investment already under deployment. Delhi would roll out infrastructure first, and then create real estate, a FIRST for city development in our country”.

Ved Prakash Gupta categorically mentions that committee has been set up to facilitate the effective implementation of the master plan’s recommendations.

You could contact the writer of this news, Nancy Singh on help@delhi-masterplan.com

“The committee can be contacted for any kind of problem in implementation. We will work to redress the problem by taking up the issue with officials concerned and will also bring it to the notice of Master Plan-2021 Committee,” he said.

Ever since I have been a teenager, growing up in Saddi Dilli, I have been wondering on our limitless access to the roads for all activities, as we deem fit, to be conducted on the roads.

My friends were organizing a Jagrata (Jaagran)… an all night pyjama party invoking the gods to shower choicest blessings onto the geographically limited territory of “K” block. Precisely, limited to 44 houses.  Wow!!! Even the Bhakti geet was suitably altered with “Maa” being provided with the exact coordinates. Even the donations were mentioned specifically for ‘Ma’s’ attention – “Sharmaji, K-112 wale,  ne 500 rupaye di ardaas kitti hai maaaaaaaaa”

The point is not the Bhakti, but the venue of expression. My organizer friends when queried, replied to me that all that we need to arrange is the tent, snacks, some bottles for us organizers and tools to woo Mrs. Primlani’s daughter. Venue for pitching the tent and throwing garbage was pre-decided -”the main road leading from the roundabout to K block”.  How convenient, I thought. How considerate of the administration to have sent a Police PCR van to oversee ‘road grabbing”.
I graduated out of college with all the Bhakti on the roads. Having being oriented to the ‘English whisky’ at organizing Jagratas, I became an avid participant at all such organizing committees, since it was also remunerative. Psssstttt.. Let me share a secret. “I used to make more money in college than my first & second jobs”.

Then I graduated from the University and got a job with a publishing house. That was my exposure to the “Shakti”. The then prime minister, Mr. V P Singh managed the unthinkable. He created a storm in the ‘mandal-cup’. Half of Dilli was on the roads uprooting trees, tree guards, foot paths etc. without really imbibing the import of “what-the-hell-am-I-protesting”? Yet again, the Delhi roads were the venue for all expressions.

We dilli-wallahs gain the most pleasure on dancing on the highways. Our Baraats assemble on the roadsides, where free booze, steaming hot kaafi and pakoras are served. Once the alcohol fulfils its intended purpose, out come the dancing jootis. Make up dripping ladies and pot-bellied ill fitting suits convert the road into a mobile  dance floor, and the happening event is captured for posterity. May out children also see “mamu’s wedding” and keep alive this tradition. Amen !!!!!

Jhaankis !!!!! Another activity custom intended for the road. We dilliwallahs believe in collective expression of our beliefs on the road, procession et all. Sometimes pre-dawn and sometimes post dinner. However, the biggest draw is during the peak traffic hours’ where the general public too is included in invoking gods, Dilli Ishtyle. Everyone curses the organizers, and invokes gods to take them homely, safe n timely. Thank Shakti & Bhakti together.

A few years back, the Kerala high court tried to rule against declaring the ‘bandhs” as illegal. The entire political class ganged up together and ensured that such ‘constitutional rights’ are not snatched away of the aam-aadmi. tch.tch.
Quite unfortunately, the aam-aadmi has no interest to ‘abhivyakti (express) his Bhakti n shakti on the roads, while putting to inconvenience his fellow aam-aadmis. It is the so called elite of organizers and fund raisers, who can put a million to trouble for their moolah, which can be collected legitimately, in the name of God. As for dancing on the road, the most danced roads lead to a marriage hall belonging to someone influential.

Voila. Now we know how and why Dilli keeps expressing themselves on the main roads.. the more motorists, the better it gets… Tu jaanta nahin hai main kaun hoon… It is my birthright to use the road for every purpose other than what it is intended for !!!!!

In the last few months that I have started attending seminars and conferences on real estate,  I am further more amazed at the consistency of Ignorance about one of the largest investment opportunities ever – The Delhi Master Plan MPD 2021.

 Being considered as someone with expertise on land & projects under the MPD 2021, I am inevitably posed the following three questions

 a)    WHY & WHERE Delhi?

b)    Why and when should I invest in Delhi?

c)    Size of the opportunity and how to go about?

 Inadvertent or deliberate, it is our firm conviction that the Delhi opportunity is not well publicised amongst the masses. Besides, there are a lot of myths concerning Delhi opportunity which I intend to dispel through this article.

 Without getting into detailing, here are some quick reasons why the serious investor should not & cannot ignore the Delhi MPD 2021 opportunity.

 è Political – Strong “Intent & Ability” to develop Delhi into a modern megapolis

è Demographic – Population expected to increase by 80 lakhs in 10 years

è Demand – 2 million dwelling units is the forecasted demand for housing

è Economic – Growth driver for the investments into India. Hub for business activity in Northern India, with multi billion dollars investments in the next 5 years.

 è Policy – New favourable policies on investment climate – Proposed enhancement of ground coverage and FSI norms

 è Events – Delhi is already investing more than a few billion dollars for the commonwealth games 2010, and might be a bidder for the Olympics in 2020 or 2024

 Let me try and address some myths on the Delhi Master plan 2021 along with the answers to the above questions. A pictorial representation produced here below would be helpful to the readers too.

 Myth 1 – Land is scarce in Delhi.

 “Delhi has more land than the entire Gurgaon City – ready to be developed, and infrastructure in place, and available to be brought under development over the next 10 years”. I use this sentence to shock people who are under the myth.

 Delhi city state is a total of 1483 sq. Kms out of which the current urbanized area is approx. 702 sq. Kms. There is a WHOPPING 700 sq. Kms yet to be developed. Look at both the illustrations below for your own understanding.

 Illustration A – Map of Delhi with New urbanizable areas marked with surrounding cities

 Illustration B – Total area in the Opportunity zones which to be developed through PPP, private and DDA initiatives.

The above two illustrations surely would have helped dispel the first Myth.

 Myth 2 – Delhi is costly

 I would not be misplaced in saying this with reasonable authority that “Land is still cheaper in Delhi than in surrounding cities”. Lack of knowledge and vested interests has compelled investors to be fed the information that land is scarce, and out of reach in Delhi, CONTRARY TO THE PREVAILING TRUTH. Even today, the landed cost of FSI within Delhi can be managed below Rs. 300 per sq. Ft if well transacted.

 Myth 3 – Private sector can’t participate in Delhi

Yes, historically, the major developments in Delhi were undertaken by the DDA, which would find itself severely constrained with the scale of development that Delhi envisages over the next 10-15 years. Hence, the townships, residential and commercial segments would either be developed on the PPP model, or by the private developers. Relevant directions have already been set in motion towards the same, till now.

 Myth 4 – Surrounding markets are more attractive today

 I would rather express my own investment rationale & sentiment to this myth. “I would rather invest in the capital of the country, with a pent up demand for 2 million homes with the prices being lower than the surrounding cities, where whatever I may decide to develop would sell faster than anyplace else.” What else reasoning do I give to the queries?

 Myth 5 – Delhi would have limited development potential

 My good friend Ashok Jain always counters my queries with his favourite quip –“Where in India do you find a city which requires everything from low cost housing units to the top end farm houses, office space to malls, race courses to golf courses, amusement parks to Industrial parks, guest houses to warehouses, all willing to be developed yesterday”. To top it all, the Delhi master plan MPD 2021 has identified most of these needs and encourages the private participation in all these segments. Do I close my eyes to this piece of the pie?

 As for opportunity zones, one can seek participation both in the New 05 cities being developed under Delhi or for the redevelopment of the existing habitation areas. The five new cities that Delhi would create like Dwarka & Rohini, spread over more than 10,000 hectares each, would be self sustaining economic cells which would offer everything for “walk to work” to “quantum increment in the QUALITY of life”. These are essentially spread over the three primary zones of P-II, N and L zone of Delhi MPD (see chart above)

 My mother always says this – “If you have and well intentioned and capable friend, you won’t need a mirror”. The same logic applies to the business environs where we work, sometimes as the MIRROR, and sometimes as the impression.

 Our solemn advice is for the investors to seek out a consultant who has deep rooted insight into the opportunity zones, someone who understand both ends of the spectrum, bird’s eye view of policy & future resonance as well as the Ground reality of MPD 2021.

 This article is to express our conviction drawn over years of research, diligence and investments which have yielded more than expectations. I would only be willing to paint every critic and cynic with our optimism. I am just one phone call away.

The author, AJAY DABAS, is part of the Founding team of  www.delhi-masterplan.com  and can be contactedon help@delhi-masterplan.com

WHO PACKS YOUR PARACHUTE?    

Charles Plumb was a US Navy jet pilot in Vietnam After 75 combat missions, his plane was destroyed by a surface-to-air missile. Plumb ejected and parachuted into enemy hands. He was captured and spent 6 years in a communist Vietnamese prison. He survived the ordeal and now lectures on lessons learned from that experience!

One day, when Plumb and his wife were sitting in a restaurant, a man at another table came up and said, ‘You’re Plumb! You flew jet fighters in Vietnam from the aircraft carrier Kitty Hawk ….You were shot down!’
‘How in the world did you know that?’ asked Plumb..
‘I packed your parachute,’ the man replied. Plumb gasped in surprise and gratitude. The man pumped his hand and said, ‘I guess it worked!’

Plumb assured him, ‘It sure did. If your chute hadn’t worked, I wouldn’t be here today.’

Plumb couldn’t sleep that night, thinking about that man. Plumb says, ‘I kept wondering what he had looked like in a Navy uniform: a white hat; a bib in the back; and bell-bottom trousers. I wonder how many times I might have seen him and not even said ‘Good morning, how are you?’ or anything because, you see, I was a fighter pilot and he was just a sailor.’ Plumb thought of the many hours the sailor had spent at a long wooden table in the bowels of the ship, carefully weaving the shrouds and folding the silks of each chute, holding in his hands each time the fate of someone he didn’t know.

Now, Plumb asks his audience, ‘Who’s packing your parachute?’ Everyone has someone who provides what they need to make it through the day. He also points out that he needed many kinds of parachutes when his plane was shot down over enemy territory — he needed his physical parachute, his mental parachute, his emotional parachute, and his spiritual parachute. He called on all these supports before reaching safety.

Sometimes in the daily challenges that life gives us, we miss what is really important. We may fail to say hello, please, or thank you, congratulate someone on something wonderful that has happened to them, give a compliment, or just do something nice for no reason. As you go through this week, this month, this year, recognize people who pack your parachutes.

I am sending you this as my way of thanking YOU for your part in packing MY parachute.

DONT SCREW AROUND !!    

Once upon a time, a young lad was born without a belly button. In its place, was a silver screw. All the doctors told his mother that there was nothing they could do. Like it or not, he was stuck with it….. he was screwed.

All the years of growing up was real tough on him, as all who saw the screw made fun of him. He avoided ever leaving his house…. and thus, never made any friends.

One day, a mysterious stranger saw his belly and told him of a swami in Tibet who could get rid of the screw for him. He was thrilled. The next day, he took all of his life’s savings and bought a ticket to Nepal.

After several days of climbing up steep cliffs, he came upon a giant monastery. The swami knew exactly why he had come. The screwy guy was told to sleep in the highest tower of the monastery…. and the following day when he awoke, the screw would have been removed.
The man immediately went to the room and fell asleep. During the night while he slept, a purple fog floated in an open window, bearing in its mist, a solid silver screwdriver. In just moments, the screwdriver removed the screw and disappeared out the window.

The next morning when the man awoke, he saw the silver screw laying on the pillow next to him. Reaching down, he felt his navel, and there was no screw there!

Jubilant, he leaped out of bed…… and his butt fell off.

The moral to this story is: ‘Don’t screw around with things you don’t understand…….. you could lose your behind.’

 However, the last 5 years haven’t been exactly as it was planned, both personally, as much as for the industry. When the Industry was on a roll, it resisted regulation of any sort, as was wont. The common wisdom as typical American – “why fix something when it isn’t broke”. (though America boasts of one of the best regulated Real estate Industry).WHY SO???

 Let us compare the Telecom Industry, which is comparatively younger in India. Within the last 20 years or so, the Industry has grown multi-fold by increasing consumption, offering cutting edge products and services, as well as have a singular authority regulating the Industry and setting benchmarks for the future.

The very mission of TRAI announces : “The mission of Telecom Regulatory Authority of India (TRAI) is to ensure that the interests of consumers are protected and at the same time to nurture conditions for growth of telecommunications, broadcasting and cable services in a manner and at a pace which will enable India to play a leading role in the emerging global information society”.

 Cut to the real estate industry : The real estate Industry is functioning under no singular guidelines, respective states and organizations carry forward the business as it “presumes” good for the Aam-aadmi, the Aam-Aadmi is still hoping for salvation, there are no benchmarks and set standards, and most of all, an industry forecasted to grow to almost 100 billion dollars in size, seems headed in multifarious directions.

 Critics, players of the Industry and part of the political class argue that the appointment of a regulator is not the solution. Per them, the diversity of the country, the fragmented polity, the governance of different states by different political parties etc. demands a much more localised governance and that one unifying body would be akin to creating a ‘toothless’ tiger. But sir(s), can we create a single starting point? Can we have one direction wherein we can all head to? Can we adapt to tried, tested, best practices already enforced elsewhere in the world? Can the same India be any different in the realty industry compared to the IT, Telecom, services industry? Can we have a level playing field for all existing as well as intending players? Can we try and

 Possibly, vested interest and the lack of a coercive will is the biggest reason. The Mango people (aam-aadmi) deserves to remain a fruit to be milked of their juices, in the eyes of the policy maker. How come that we have certain norms in “A” industry, and can’t be enforced in the Real estate Industry? A clear indication that the Industry is not unified, and that the policy makers have a “VALID” reason not to enforce a singular norm across the country / Industry.

 The unfortunate direct loser of this apathy is the consumer; followed by the Industry @ large, which seems myopic in intent.

 No better time than today to enforce this… bring in a regulator for the real estate industry in India. The benefits would run across the spectrum. The central government would miss the chance to string all the states, either by conviction, or coercion, if not availed now.

 The 100 day agenda of the Ministry of Urban development released vide the press release on the 29^th June’09 mentions this :

Point # 16          Real Estate Regulator for Delhi – Real Estate Management (Regulation & Control) Bill for NCT of Delhi will be taken up for decision.

If Delhi is serious, and rolls out a credible implementation plan, that would be the precursor of the regulator pan-India.

 It is time we seriously considered “Consumer interest”, rather than keep trying to paint the Donkey to look like the Zebra.