Steve Maraboli, is American internet radio commentator,
motivational speaker and author. And no wonder as, no motivational speaker will
hold responsible to someone else for the mess you have created & high time
we the people of Smart City Pune & Maharashtra understand this basic
principle of life! Well, Lockdown
Season two is here & so is second wave of the virus & no other region
or State or country has witnessed the ferocity of this wave (rather we should
call it as Tsunami) than we the most progressive State of the country is
Maharashtra! Not just that but no other society or the govt has faced this
virus wave so miserably (read as foolishly) the way we are facing it! Mind me, I am
saying “We” & I am not blaming anybody as the virus doesn’t recognize the
body its attacking same way a bullet fired by the enemy from across the border doesn’t
recognize the Jawan’s colour, caste or religion or regiment! And that’s why
entire Army or Military or Armed Forces shows the discipline & togetherness
while fighting a battle which we have conveniently forget or ignored! Unfortunately, in the war there is no
excuse for your ignorance however innocent you may have been while fighting
with sincere attitude, the bullet doesn’t knows that, all it knows is you have
exposed yourself & bang, it will hit you!
Ok,
coming to first aspect which of course is related to my field or work or
business i.e. real estate which people like to call as “Builder” (I have no
shame or regret nor ego as it’s my bread & butter)! Approximately from last September i.e. nearly
eight months back the patient numbers started reducing, the first season of lockdown
ended & the New Normal has been declared. Already two industries has been
hit worst than any other in Pune as well in Maharashtra & those were
Hospitality (Restaurants) & Real Estate as these two opened up last & it’s
in these two industries, maximum migrant work force (manual labour) are
employed & most of them are from other States where the situation wasn’t
grave & the respective works were already started from Mid July. I accept
even more than real estate the hotel (eateries) industry got worst hit as the
nature of their product vs. their investments as in real estate at least the
product is not perishable & land usually appreciates only with the time,
slow sometimes but it does! But then in real estate stakes are very high, here
I always give example of automobile segment that every common middle class or
higher middle class’s person dream is to own a car & a home, right? So, when a higher middle class man (or woman) goes to buy a
car does he looks for a Merc or Audi which starts from basic range
approximately some Rs. 40 lakhs, answer is a big No rather he looks for
something Rs 5-8 lakhs budget car, is a fact! But when the same guy goes for a
decent two bhk home, which starts from Rs 50 lakhs (in Pune region) & yet
he is ready to shell that amount, this is the difference between real estate
& any other product. This is why stakes as well as risk factors are very high in the
real estate though unfortunately most people (even builders) see only profit
side of the industry & lands in trouble!
Let me clear in the
start, this is not to justify about keeping real estate i.e. site’s work going
neither I disrespect efforts of govt authorities as well everybody to fight
with the virus wave as well I fully understand the seriousness of the pandemic
spread & panic it has created! But at the same time let’s not forget about
nearly some half a million people (5 lakh) in Pune region which are dependent
on real estate’s construction & equale numbers of people seeks their homes in
these constructions. At the same time though official figures are not available
(as usual) but imagine the turnover related to real estate in PMC, PCMC & PMRDA
jurisdiction at total halt, agreed life is more important than money but whose
fault is there in forcing the lockdown like situation on masses & which
lives are paying for other people’s mistake, isn’t it high time the real estate
should ask this question to the govt? As last year we accepted lockdown &
suffered its effects without any complaint & govt also supported real
estate ( a bit) via schemes like stamp duty reduction & other types but the
this lockdown two, is going to hit (already hit) real estate on both fronts,
one is setback to entire construction process as all other States are open, so
the work force has already weary to work here & now those which are working
here they are also running back to other States. So the lockdown & curfew may be for one month or more but the panic
& setback it gives will affect nearly next five to six months for the
construction process as to gather all work forces again & restart is not a
mechanized thing! And second is, the entire sentiment of the market (read
as home buyers) get disturbed due to
such on-off policies about lockdown as its uncertainty of the future which makes people refrain from
concluding on decisions like home buying which is one time & costliest
purchase for the most & I don’t blame them! If this is scene for
residential segment then the commercial segment (projects) are in more panic
mode which actually is not necessary but that’s what panic does even to the
toughest of the minds & real estate is no exception to this logic! Many
industries has announced work from home is a fact & then many other
segments (tourism, hospitality) has seen big layoffs, even production
industries also, resulting less demand in commercial spaces is a fact but its temporary
phase! Because
a commercial space at proper location is like gold, its rate may seem stable or
demand may be less a times but gold is gold, right? Same way, the pandemic will be over some day & life will
be “New New Normal” at that time, those which will be holding commercial space
at right location in right city & own a home (what better than Pune) are
bound to get benefitted of having ownership of such space, that’s how real
estate has been always! And I am not saying this because I am a builder I am stating
sheer logic as in real estate you earn money only when you look at right future
(its bit risk agreed, but that’s part of the game) & take the steps
accordingly in the present! We the Indian’s are never comfortable with “work
from home thing” as we want to meet people & it’s not just work for us but a
social gathering also, is a fact! Already the ill effects of work from home are
being witnessed in many families as husband wife tied to their gadgets &
kids online, surely not a healthy sight is in any home. So, sooner or later the
office going work culture is bound to be there as soon the so called IT &
Service Provider giants will realize the work from home culture is actually
affecting their revenues (reduced output from the eployees), is again my logic!
And then commerce is where people’s needs are there & needs will be where
people are there, so are they in the Pune region!
Pune
region is present & future of entire State & post pandemic also people will
hereafter choose to live in a city which has public health infra in place (even
private) which Pune has got! And that’s why from entire Maharashtra the
patients are coming to Pune for health treatment, making entire public health
infrastructure of city collapse as well spreading wrong news about the Pune
city in the country! And future or this
region’s commercial as well residential spaces is brightest among any other
competing regions in the country, as this region has water, culture, public
health infra & brain power all of which makes a perfect combination for the
growth of the business, this even a trainee of a commerce branch will tell you!
Actual scene in Pune
is, it’s much more safer than any other city & with best of the public
health facilities & people here are also much aware than other regions
about their health, it’s the confusing policies from the top brass (Mai Baap
Sarkar) is what making things chaotic. First we say New Normal, then we realize it’s
out of our hand now we say Break the Chain & then we keep Breaking the
Chain with every day new circular! And about real estate the scene is worse as
site's construction is allowed but only with site residing labours, is it a
joke? As what small projects will do as well not all labours reside at site
even in townships, so they won’t be allowed to work, what will they do? At the
same time shops & showrooms of all construction related materials are to be
remained shut neither offices of the consultants like structural designers etc
are allowed & you say run the sites, wow!
Why can’t there be holistic, practical, simple & clear cut
guidelines about real estate ever by any of the govt authority (one more my
Mungerilal dram), is something I never understood! Same way high time again to
think for things like stamp duty reduction scheme as well reduction in premiums
like fire & many others at least for coming few two or three years if the
State govt is also a stake holder in real estate’s money! Not just that but as a beneficiary, the State govt must fight with
Central govt over pinching issues like income tax, interest rates as well GST
type things for real estate in the city or else there will be buyers for the
office spaces & homes but no builders to build them, till then, amen real
estate!
Sanjay
Deshpande
Sanjeevani
Dev.
Please view my sharing about real
estate in Pune at U-Tube link below..
https://www.youtube.com/watch?v=g4xX7eopH5o&t=5s
Please do visit my
blog links below to read about real estate & home buying!
https://visonoflife.blogspot.com/2021/01/post-lock-down-real-estate-home-buying.html
http://jivnachadrushtikon.blogspot.com/
Creating Togetherness; team Sanjeevani Way(Click link below)
https://www.flickr.com/photos/65629150@N06/albums/72157627904681345
For any of your complaints about city, log in at link below
www.punecorporation.org
Take your issues to
Hon PM at link below..
Think
Green, Think Life
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Sanjay