RM : Gurgaon currently has more than 30 million sq. ft of commercial real estate under various stages of planning / development. The investment plans of most organizations, esp. within the IT & manufacturing domain aren’t really robust & aggressive, owing to the overall business environment.

A large part of the blame can be attributed to two factors

(a) Poor planning & execution ability with some of the developers

(b) Liquidity crunch & lack of capital for commercial real estate.

The above two lead to delays in completion of projects, thereby attracting cost overruns. The pricing strategy of commercial real estate hasn’t kept pace with the scientific methodology adopted in the residential sector.

 Q: There is a lot of oversupply of commercial office space in Gurgaon. In such a scenario how do you see the market trends. Is there any major correction in the offing?

RM : In this current market scenario, the larger players are saddled with more inventory, and they are willing to be more competitive on the pricing aspect. This puts more pressure on the smaller developers, whose offtake of inventory necessarily loses the premium.

Most commercial projects in Gurgaon have no discernible differentiator (on product design, specs & quality) with the others, with the exceptions of a few. That takes away the attraction for prospective clients & tenants.

Q: Tight money supply and slowdown in Europe and US has lead to few companies coming to set base and expansion is also low. What do you think is the likely impact.

During the pre 2008 era, organization used to identify spare capacity for forward expansion, which is a casualty in these uncertain times. Most organizations are taking up space on need basis, and aren’t reserving space for expansion, with the knowledge that the supply is adequate.

Also, the SME segment in Gurgaon hasn’t really had anything planned for them by the developers, who today aren’t expanding beyond the next three months requirement. Also, adequate inventory is avaialble in the areas like Udyog Vihar, sector 30-31-32 erc, wherein the building though shorn of the glass facades & central amentities, are adequate for one segment of clients.

The “Eurozone” crisis isnt helping the cause of Gurgaon, and then there are another 7 cities which are giving a tight competition to Gurgaon, not just with the real estate supply, but also with other soft benefits& incentives.

 Q There is also a problem of structural vacancy as many building in Gurgaon are vacant and tenants are not occupying these? What do you think is the solution.

RM :  Many of the commercial projects in Gurgaon, especially by the smaller developers, have been sold to financial investors in smaller space denominations. The developers have either sold on a rental commitment (assured returns) or have altogether washed their hands off the project, except for the maintenance. This situation does not augur well for the owner or the prospective tenant.

The rental expectations are based on the prevalent market price of the product. If the product has been sold on a higher price OR on assured returns, the current rentals don’t support the expectations of the property owner.

Either the consumers have to be offered a lower rentals, OR, the landlords would have to be more innovative by shouldering a part of the capital costs for the furnishings / Finishing by offering perceived benefits to the end user.

 Certes research reveals that 65-68% of the operating expense of a typical commercial office space occupier is towards Power, amenities & operations. The acute power deficiency, coupled with the infrastructure related costs in Gurgaon, compared to some other competing cities, isnt helping either.

 Q Which areas do you think are most promising for investors as far as commercial real estate is concerned?

RM : The Delhi master plan MPD 2021 is also likely to bring in a large supply of land for commercial development. Coupled with the fact that Delhi contributes a substantial part of the work force in Gurgaon, the Delhi challenge cannot be negated.

In the short run, the projects on the Northern periphery Road (NPR) would see an off take, subject to the operation of the road over the next three years.  Most developers who have projects farther away from Gurgaon city have to either offer very competitive pricing, Or, would have to add value to their products, to attract quality customers. The recent labour & other administrative lapses, widely reported by the media, isn’t helping the cause of Gurgaon too.

The interviewee is a director with Certes realty Ltd, a research & advisory firm on Delhi & Gurgaon master plans 2021 & 2025 respectively.

 Here are some misnomers, for the consumption of the common man, which seeks correction.

 1. If Delhi has to plan for an additional population of 10 million over the next 10 years, growing vertical is essential, to accommodate more dwelling units per acre.

 2. Detractors cite the siesmic zone, facilities & amenities, height restrictions, infrastructure, water & power and all such arguments against the motion. The counter argument is, Delhi has to factor in the incremental population while planning the urban infrastructure for the next decade & beyond, you can’t wish away the migration.

 3. Most migrants aren’t looking for tall buildings, which are 20storeys & above. We have to pragmatically plan ground + 3 structures OR  Stilts + four structures which can accommodate more DUs per acre, than what it is now. (the benchmark cannot always remain the Luytens Delhi).

 4. When talking of new areas like zone N & L, surely infrastructure can be planned in advance, to suit the amended higher density.

5. Let this be noted that higher density, relaxation in FAR and height norms does effectively bring down the cost of project acquisition. Why not allow higher ground coverage to create projects which are not super tall structures, but a mushroom development of well planned low rise buildings?

6. MPD 2021 allows high density developments alongside the new infrastructure, like the UER I & II. The licenses can be allowed with caveats for housing for the poor too, who deserve modern infrastructure.

The basic tenet of going vertical should be to generate higher supply, which would wean away the buying public from the unauthorized settlements, which are nothing but a ruse of the unscrupulous to work the rules in their favour.

The reason to appraise the readers of the above statistics is to talk about the great potential for organized green belt development under Delhi, and the many pitfalls that are faced by the buyers.

I suffer great consternation when I am confronted with the many a half-truths and assumptions about the Green belt land, and its purported admissions, regulations & development. The basic myth or wrongful assumption being – “any Agricultural land is Green belt land”.

I thought it pertinent to bring to fore the facts, and explore jointly, the opportunities for the citizen investors, rather than the institutional & developers only.

Myth # 01 – Any Village land is green belt land

A big thumbs down to this assumption. “The MPD 2021 Plan stipulates that the land upto the depth of one peripheral village revenue boundary along the border of NCTD, wherever available, would be maintained as Green Belt”. (Ref. Clause 3.2.1 of notification of MPD). It also doesn’t mean that every last peripheral village of Delhi is classified as green. To take an objective view of the same, one has to refer to the notified zonal plans, under each zone, and further understand the location of the land on the village revenue records (shijra / Khatauni). I have come across many investors who have gone by hearsay, rather than research & expert advice, in buying land, for use as a farm house, under the green belt lands.

Myth # 02 – No permissions are required for Green belt development

Let the readers be informed that permissions are required for the development of any land parcel, for any land use, and for any category of development, from the empowered authorities. In the case of Delhi green belt lands, besides the DDA, MCD and other agencies, there are no objection certificates (NOC) too to be obtained from the local offices of the Land & revenue department. Caution be exercised while following to advice from sources with limited knowledge.

Myth # 03 – Registry & mutation would ensure that land isn’t acquired ever

Without getting into the absolute technical grounds, be informed that within Delhi, there are lands which are governed by separate set of rules, for e.g: Punjab Land act, Delhi land act, MCD act etc. etc. Though many such land parcels fall into the “Green zone” shown on the notified map/ Zoning of MPD 2021, they necessarily DON’T signify automatic qualification of the said land parcels for development of Farmhouses.

Registry & mutation, signifying ownership doesn’t mean that the said land cant be acquired for any other purpose, other than your own dwelling units. Let’s not forget that government can acquire land parcels, at any time, for any purpose as deemed fit. The demographic explosion, coupled with the development of projects in the Green belt, also requires infrastructure, be it power, sewerage, social infrastructure, water, drainage etc. If not researched, and referred to expert groups on the master planning, significant down valuation would be suffered on green belt lands purchased. EXERCISE CAUTION.

Having said the above, there rests a HUGE OPPORTUNITY for all categories of investors, developers, HNIs and retail investors. Let me state some proven facts, as experienced both during research & transactions, by yours’ truly.

a)             Land returns the highest ROI amongst realty products

b)            If bought at the right time, it rarely devalues

c)             It is an asset, which you take possession from day One.

d)            It has the most ‘flexible’ investment options

e)             Cost of managing your land Asset is negligible

f)              It is a highly liquid asset, with easy exit mechanism

g)             It privides the “right balance” in your real estate portfolio

THE GREEN BELT OPPORTUNITY IN DELHI

Now, why should the HNIs & retail investors invest into Green belt lands in Delhi? Why should they direct their investment from residential & commercial developments, into Land? What to expect from the investments int Delhi Farmlands? Some reasons herewith listed:

Pent up Demand & demographics - The foremost reason being the demand scenario in Delhi, which would possibly be the highest captive pent up demand of almost 2.3 million Dwelling units. On the farmhouse front, one particular research by Delhifarms.com pegs the forecasted demand by 2015 at 15000 new Farm houses, on a ticket size of almost a million dollars apiece. This entire demand has to be fulfilled under the Green belt of Delhi under MPD 2021.

Supply is NOT A CONSTRAINT – As per the MPD 2021 & zonal plans released in 2010, there is an imminent supply of more than 11, 000 hectares of land which is being released, under the Green belt of Delhi. These green belt lands not only act as the lung space of Delhi, but also encourage the development of low-density dwellings within the boundaries of NCT Delhi, more particularly the farm houses.

Investment Infrastructure & interest

“Dilli tho Dilli hi rahega” is the common refrain that I get to hear, while transacting land deals in the other cities of NCR. Besides Farm houses, there are a lot of commercial interest activities which would be pursued within the Green belt of Delhi.

Table 9.4 of the notified Delhi masterplan MPD 2021 document lists the following products / services / permitted activities which can be conducted within the Green belt areas of Delhi.

• Forest, Agriculture use, Vegetation belt, Dairy Farms, Piggery, Poultry farms, Farm house, Wild life sanctuary, Bird sanctuary, Biodiversity Park, Veterinary Centre, Police Post, Fire Post, Smriti Van, Plant Nursery, Orchard, Area for water-harvesting, Floriculture farm, Open Playground, Agro forestry, Amenity structures

Sports & sports related infrastructure have now been included as part of the social infrastructure, which would kick start the initiatives by the private enterprise into this domain, more specifically under the Green Belt of Delhi. Progressively, Delhi is emerging as a venue for International events, and facilities created jointly, severally or under the PPP mode would be the way forward to integrate the logistical needs for training & churning leading sportsmen.

Besides the above, Community Park Multipurpose Ground Existing village Abadis, already Regularized Unauthorized colonies and already approved Motels would be allowed to continue. That brings me to the opportunity of mini farms & serene villa & multiple dwelling units development opportunities within the Lal Dora & extended Lal Dora areas like Kanjhawala etc. Will talk about this specific opportunity some other time.

Besides the multi tiered investments by the Center, State, Municipal, Local & Private sector, Social infrastructure within the Green belt areas would be the biggest differentiator between Delhi & the other cities.

All of the above is only fraction of what Delhi Masterplan 2021 is about. It is planned to accommodate an additional population of more than 10 million, with the development of more than 2 million homes. You could well imagine the quantum of investments required, committed & the role & opportunities which the private sector would play. The same survey on Delhifarms.com also revealed that the corporate executives & businessmen community represent the aspiration segment for new farm houses, and supply being consistent & price points getting more achievable, there would be a demand pipeline for another 19,000 farms, mini farms & country homes.

Cautions & Risks

Having assessed the potential of the Green belts under Delhi, one muse exercise suitable caution while perusing investment opportunities. I still get to notice unscrupulous elements hawking off Green belt lands to gullible buyers, who do not seem to understand that some land parcels under green are earmarked for water bodes, infrastructure, reserved forests & parks etc. Please do not hesitate to seek expert guidance.

Let me tweak the famous quote by Mark Twain as follows – “Buy Delhi Farms, they don’t make them anymore”.

Whence the MPD 2021 was notified in Feb’2007, there was palpable excitement in the air about the biggest Real estate opportunity in the country. Yours’ truly also found himself busy with the business suits & private jet brigade in immersing myself into .ppt presentations on the “Oh so visible” factors like demographics, policy & regulation support, demand & supply, financing & opportunity etc.

Then came the usual ‘showstoppers’. The approach of the multiple involved  agencies (DDA, MCD, State, Center, etc.etc.)  seemed mired in petty politics & pseudo legal tangles, than achievement of the stated objective of “qualitative improvement in the quality of life” of Delhi.

The progress has been slow, albeit, assurances kept flowing in from different quarters about how “Delhi would be turned into a World class Megapolis” soon.

However, hope prevails!  2011 & onwards would see the Delhi masterplan MPD 2021 galloping back into contention, and the Policy makers, investors, developers, buyers & land selling villagers & the law of the land cannot ignore the opportunity any longer.

Let me elaborate on how each stakeholder is going to benefit out of the MPD opportunity, and what their compelling motivations would be.

Policy Makers – I would like to critically look at the three essential influencers, namely the political class, various arms of the government & civic administration.

There is a cemented realization that DDA cannot remain the monopolistic real estate developer of Delhi, esp. in the context of the complex modern & contemporary requirement of infrastructure. Also, acquiring land wholesale, and subjecting it to inaction & illegal development & occupation cannot be sustained any longer. Acquiring land for a pittance from the farmers can lead to social unrest, with the increased consciousness about the multiple scams & illegal gratification allegations surrounding government development agencies. Hence, DDA would progressively evolve into a master planner, which can monitor the private developers, who would be entrusted with a much larger role in the development of Delhi NCT.

The surrounding cities of Delhi, namely, cities of UP (NOIDA), Haryana & Rajasthan evolved a much more robust Real estate market through policy initiatives attractive to the private investors & developers. Today, a Gurgaon city might be contributing almost half of the revenue to the state of Haryana on certain categories of business. I ask these four questions in retrospect.

• Wasn’t Delhi’s inaction, which allowed these cities into the backyard?
• Lacking their own captive demand, didn’t these cities fulfill the pent up demand of Delhi?
• Can Delhi coffer afford to let go the revenues of Millions?
• Wouldn’t the demand overflow back into Delhi, if the eco system becomes conducive?

Our research reveals that almost 55% of the current urbanized areas of Delhi are haphazardly developed, either as illegal colonies, unauthorized developments or Urban slums. More than 1500 colonies & clusters do not have access to basic civic infrastructure & amenities.

Some hurting statistics – In 1972, 800 unauthorized colonies were regularized in Delhi. 567 were in 1977, about 600 regularized between 1989-2002, & 1639 unauthorized colonies identified for regularization in 2009. Is this the Culture of Urban development in Delhi?

Can those who want to be re-elected afford to sell the same old “gasoline in new bottles?”

If your answer is the same as mine for the above queries, we seem to be cracking the puzzle together.

Law of the Land – If we jog our memory, in 2007, the MPD 2021 document was released in a hurry to ensure that the citizens were not affected by the various court rulings, sealing, demolitions etc. 2008 & 2009 also beckoned elections for the assembly & MCD. Collectively, some protection was delivered to the citizens like the special provisions act 2008 etc. Assuming that some provisions of the acts have lapsed as on 31.Dec’2010, would the citizen be free from the wrath of the authorities, and courts alike? Let us not forget that the Supreme Court, which is hearing many petitions, too would be keen that the development of Delhi be structured, organized & people friendly, in accordance with the MPD 2021 vision document. The courts & administrators would like one uniform document to govern the development, rather than a discretionary outlook on the development of the capital state of India.

Investors – Irrespective of the words in which described, all investors work through the cardinal truth of “return on Investment”. It is not rocket science to figure out that ROI is better achieved by catering to the captive demand, than creating supply first & then go looking for demand, at the end occupier level.

Delhi today has a projected captive shortfall of almost 2 million dwelling residential units, factoring in the population increase from 1.32 crores to 2.5 crores. Going by the demographic indices, almost 2-3 lakh able bodied educated youngsters would be the resource available to the industry, per annum, to be added into their work force.

Someone needs to be either blind, or irrelevant to miss this opportunity.

Developers – here are some statistics to chew on. I would present my case after you have digested these numbers.

• Real estate likely to contribute more nearly 15% of GDP soon
• RE would be the largest employer after agriculture
• The business potential of RE in India would cross US $150 Billion (compared to the much touted IT industry approx. US $65 billion)
• Delhi has more than 400 sq. Kms of Urbanised areas, which need redevelopment

The last sentence being specific is the attention grabber.  When we talk of development & developers, it is not just agricultural land which can be converted to building, but also, a Singapore like business opportunity. Old, defunct, dilapidated & unsafe buildings can be knocked down & reconstructed, to create more modern, contemporary, safe & quality buildings, both residential & commercial. If we look around our own colonies & neighborhood, we have these opportunities begging for attention.

Redevelopment besides, the MPD 2021 almost brings to fore fresh development opportunities in all spheres, including infrastructure, parking, SEZs, a fresh supply of virgin land exceeding 50,000 hectares. Also, developers please note that Delhi would at all times be more attractive to an institutional investor, compared to any other tier II, Tier III city.

Wasn’t Mr. Chairman right when he said that the “next Leader Company would arise from Delhi?”

Buyers – The master plan of Delhi talks extensively on the concept of integrated cities, wherein the ‘walk to work’ concept can truly be implemented. Assuming all goes to plan, aided by the multi level investments from the Center, State, MCD & local civic authority & the robust private sector, the developments under the new master plan would be a lot different than the surrounding cities.

Ask yourselves – “If you get to live where there is connectivity, better power supply scenario, the capital of the country, functional metro, local transportation, better policing & security & source of livelihood, and products in all price categories, would you still want to go a few score miles out?”

I rest my case, your honours !!!

Farmers & Land owners – Owing to the better social infrastructure in rural Delhi, the second generation of land owners in Delhi understand economics better, and aren’t averse to buying land farther, at cheaper prices, after getting their rightful price of land in Delhi. Also, it is almost recognized in all quarters of governance today that Delhi is no longer an agrarian state; why talk farming excepting vegetables.

For the private players, buying land cheaper than the NCR markets, within the boundaries of NCT, is not a challenge anymore. The caveat as usual remain, if they are aided by knowledge.

The creators of the Delhi master plan are not shouting from their rooftops about a fact, for reasons unknown. MPD 2021 document won the ISOCARP award 2008 for Urban planning, competing with 6 other cities of the world.

The recognition citation reads –”For the capacity to articulate a holistic planning at one of the most complex metropolitan areas of the world, and facing key changes that are in common in many other megalopolises of the planet: from shelter to trade and commerce, from industry to environment, from conservation of built heritage to urban design and from development code to  plan monitoring.”

In summary, if you are a stakeholder of any sort in the real estate industry, here is one opportunity you can risk “Ignoring at your own peril”

Ramesh Menon is a Director with Certes realty Ltd, a domain focused advisory firm on the Delhi Masterplan 2021

Stories get written and actors get a part to play. Everyone had a distinct name, from their birth till cremation. (all men are cremated equal). All went off pretty well till circa 2010, till the numerologists started calling the shots. Whoever in authority, wanted to story rewritten in contemporary sense. Outsourcing being common, it was decided to send a team of experts, who hired another team of advisors to define how to go about the creative writing. Teams in place, finances tucked in, copywriters on board, everything was on schedule till the moment of dread – “luck, vaastu & numerology”. On board came Jaanleva Batliwala and Jumeirah Jumaani. They explained how Jeetoo’s daughter’s kismet changed with a letter, and AB and Baby both encountered success with an apostophy inserted. Who wants to take a panga anyways with numbers (esp. when mathematics was never a forte with the creative writers) They had no problems with the script. Keeping in mind the raahoo-ketou-shaney, they analyzed the names of all the players in the book, and refixed their combinations.

Most characters had inherent probs with their names, and the magic dots n letters rewrote their kismet before the book could roll out into the stores. Hey..problem fixed, exultations and celebrations followed. So, here goes the story…

Many years back, there was a saint (pssst. He was under the reserved quota, SC/ST) who sat under a tree and wrote an epic. (unlike Chetan, he was the one man organization). His name was Baalmickey (see, Valmiki was totalling up to 27 whereas the book demanded a total of 39). One day, the evil kings who invited their cousins to the roulette table literally stripped their brothers family into tatters, before robbing them of their elephants, horses and harems. Four brothers helplessly watched their kin (You-de-stir) gamble away the empire and their shared wife (ugh..true story??). Anyways, Dooh-sha-sawn dragged Draeupaddi into the court and tugged at her sari. Kreeshnah didn’t like it. He raised his left hand (coz the right held the chakra) and allowed Garden sari to flow outta them. The entire family, discarding the urbanization trend migrated from the city to jungles and villages. There Bheaem met heedimbaa and cut her nose(literally) and that let to Ra1 to wreak vengeance. He sat on a birdmobile and came to kidnap Seata. Voila. The same Kreeshnah was there too, albeit in a different Avatar (shaddup, not Cameroune).

Hey, same times man, nothing archaic.  There were ‘different rules for different men’ and the rulers were allowed to practice polygamy, gamble their country, adjudicate gay & pay rights and spend public money while peasants & washerwomen gossiped & drove men to suicide.

Many a wars were looming in Panipat. Not the powerlooms of heirlooms of Panipat. Asli wala fight, and the Panddavass were sent to the Drone-ach-air-ye institute in sector 32, Gurugaone to learn martial arts. Drones incidentally has had tremendous success in AfPak in similar sitiations. The numerologist said no to changing the names of all 16,342 who died in the battle but agreed, for a fee to change the luck of those who were leading the story.

Hence the blind womans bro was Shak-ooni, the kid who learnt cracking fighter formation became AB-man-you, the sword guy was Arr-june, Ckuntee, not so lucky she-khand-he, wise man Bhees-mah etc. etc.etc. I got access to the list, but man, How the F%$# do U spell those changes these numerologists suggest.

Nothing totals up in my case. Seems like I botched up the script too. Them’ Behosh daruwalla and Jumani walked away with the cheque, while I was benched for botching history.

Justice, Justice, please, someone !! I figured out now. No one dare touch me ..a-haaa…

MY NAME IS RAMEAESHH MAYNONE.

What do the planners chose? Pretend unpreparedness & do an “ostrich act”? Maybe, no. Some quarters of the planners and intellectuals decide to act, and work on the Delhi Master plan MPD 2021. The MPD 2021 document was notified by the government way back on Feb. 2007 vide the S.O No. 141. The government of India gazette notification is available for the public on the official websites of DDA and other agencies. It is no longer a mystery document. The MPD details are available online too. Lo & behold, the political class did not change the stance, and continue to drag it’s feet on three critical components of management – RESEARCH, RESPOND, REFORM, REGULATE & REGISTER.

Some sense seems to be returning back. Work on the ground is visible again with multiple agencies putting together their resources to make the change, before the change becomes the mess.

Now specifically to the BRT corridors under proposal – Are they required, or aren’t they? The Delhi government think tank seems to find merit that the BRT is the way forward. If I have to add a rider, it would be a caution flag not to repeat the mistakes of the Ambedkar stretch till Moolchand, and to factor in the gargantuan nature of the problem, growing on a daily basis.

RITES carried out the need & feasibility analysis, and seems to deduce that Delhi would require another 375 kms of BRT. Holy cow !!! 375 similar to 6.5 would be suicidal. Nevertheless, as facts stand, 5.6 kms would be added to the existing BRT corridor, and 16 new corridors totaling almost 369 kms would be added over the next 11 years. No one is yet questioning on the funding mechanism for these. Remember, these are internal city roads, and not toll expressways.

Most identified stretches, per estimates, would carry a vehicular traffic of more than 5000 units per hour, in either direction.

The longest of the recommended stretches would be from Khera – Najafgarh – Ibrahimpur whereas the fastest and shortest BRT corridor would be from Rohini sector 21 to Kanjhawala. Now, that seems to be some integrated development, since the government is already planning a couple of Large Hospitals, government housing projects and other social infrastructure in Kanjhawla. Besides, kanjhawala has one of the most sought after, and neat extended abadi Lal Dora areas in Delhi. It augurs well for the region that infrastructure & housing would be developed simultaneously.

Fingers crossed, but my bet seems to be in favour of the Government. Soon, dreams might be reality.

Hey!! That wasn’t the topic of my post… I wanted to share how designations have metamorphosised… hic!!! I misspelt again. Anyhow, let me get to the point.

Mr. Subroto Bagchi calls himself the Gardner, though he is an equity holder in Mindtree.

Mr. Narayanmurthy—poor man is relegated to be just a chief mentor.

Mr. Sahara shri is nothing but a managing worker.( not MD)

Cisco India has Wim Elfrink as the chief globalization manager, while Tracy Ann Curtis is the senior manager for diversity & Inclusion. 

Kalpana Veeraraghavan is now the Work life integration leader at IBM.

I am told that perfectly sane technology companies have key positions as Director of People success, Chief privacy officer, Chief competitive officer, vision-holder cum vice chairman, chief beverage server (the one who serves tea on the desk), four wheel manager (car driver), chief impression manager (receptionist), loss prevention manager (security), inlet-outlet minder (doorman) – I think I exaggerated the last one….. the others are all true.

While I have been trying to eavesdrop into the boardroom of many of these corporate, and fantasize on how each of the above senior people would have convinced their peers on the role change, there seems to be a problem of plenty at the bottom.

Earlier, there used to be one CEO and a few gardeners, on the lawns. Now, there would be a few gardeners on the top floor, and a few ‘vegetation managers’ at the gate. As the vegetation managers tend to the flora, the chief privacy officer ensures that the chief typo-speller(the stenographer) does not accept any illegal gratification (read emotional expressions) from the chief of the chief of wheel managers (the transport incharge). All this while, the chief of vision (bespectacled, of course) peers through the reams of excel sheets that the chief of mathematical delusions(CFO) and chief alliance interpretations(HR) together have offloaded onto this chiefs laptop. He calls in his chief of understatement of the cyber space(CTO) and commands him to explain him how the damn PC works… this chief calls in his chief of understanding the understatement (the CIO) and seeks assistance. Finally, the chief of the fuccha brigade (trainee) is summoned who checks through the various analysis & reports and comes up with the inference – THE BATTERY NEEDS TO BE RECHARGED!!

Hey Gardner? Not you sir… I am talking to the one who tends the vegetation… no not you sir trying to pluck a strand of hair from the forehead of the chief typist… not you sir.. then one with the pink pants trying to mentor the muscular trainee… yeah.. right… the one with the hose and spade in the hand… can you please look at the creeper on my window which has completely blocked the daylight off my window??? Whew… I never knew that the gardener attracts so much attention… hey!!! Is that a surname??? Is it like Kim in Korea now, in corporate India.

I have 10 in my company.

Whew !!! too many chiefs now…. sometimes, I feel like lost in the USA of the 19^th century when there were more chief with fancy names than Horses….

I sometimes wonder what would have prompted these changes??? Why do I still have an outdated designation on my visiting card??Why am I still known as the founding Partner?

 Can I not try and convince my management to make me the chief of cerebral masturbation and verbal diarrhoea? Can I address my good friend & colleague Ajay Dabas as the chief of Blabbering untruths and effecting growth (he incidentally is responsible for business development).

It is 01.30 am and I need to get to my bed as my tormentor in chief (wife) and chief of pissing in the sleep(2 year old son) both await me. Will complete this piece shortly.

 Many of those found uttering these through professionally worded PR jaunts weren’t actually practitioners. Many, most actually, had a strong connect with the Real estate Industry, which by design, isn’t acknowledged to be the most professionally run multi billion industry, where the demand outstrips supply.

 My questions kept getting bigger, as Mr. Modi’s grin. Of course, he made it seem as if $50 Million was the tip left on the table, post dinner. Nevertheless, factor of intrigue was the REAL estate connect of most (all??) the bidders. A few names or contenders who wanted to be part of the IPL renewed – Videocon, JayPee, Adanis, Sahara, Rendezvous, players in the earlier Pune & Ahmedabad consortiums, Kochi consortium, ICICI etc.etc. Even the Tinsel world contributions came from those who are known to use Real estate as the preferred investment product.

 Now, What is common between IPL & Real estate? Err… I mean, does IPL also have the same traits as real estate industry? Bhai, then tho it is another pakka bubble in the blowing… it would take a few down only after attaining a few billion dollar worth of valuation as well as swell the numbers first.

 Now, isn’t this the same industry which was asking for “Bailouts & Sops” a few months ago? Wasn’t this the same industry which wanted their buyers to wait patiently till their hard earned money see fruition? Wasn’t this industry wanting more money to complete projects? Wasn’t this the same industry which resisted regulation.. now.now.. I don’t want to get into the merits of the RE regulation bill.

 On a generic level, what is it that attracts the companies with a real estate connect to such events? Is it the holding pattern of most RE cos? (promoters own most shares, family run etc.) OR is it the genuine risk appetite. Is IPL planned to be run like the RE indistry, or would RE draw motivation from IPL. (slam-bang-thank-U-maam with the bechara buyer)

 Whatever so, the wait continues for the aam admi coz he has already paid half the money for the dream flat, and won’t even dare to ask questions to the Real estate developers, whether they have water harvesting or not. Sentiment and blessings always with the Real estate developers, from aam admi so that he could complete quickly and then go & play ^%$#@&*.

 Keep wondering, deciphering and finding your own truths.

This is no reflection on the credibility of those who are cash rich and buying teams. Musings only. Disclaimer is almost 150 pages, hence not posting here

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”.