Chennai discussions II [Archive] - Page 54

kannan infratech

March 16th, 2012, 02:23 PM

As per CNN IBN:

Indian CG Budget: No reforms + tax tweaks + higher prices = Budget

Individual Income tax exemption limit raised to Rs 2 lakh p.a.

Defence Budget hiked by more than 17 %

Budget 2012 gives boost to aviation sector

Infra sector one of thrust areas

GDP growth to be 7.6 per cent (+ 0.25 percent) during 2012-13

Amendment to the FRBM Act proposed as part of Finance Bill. New concepts of "Effective Revenue Deficit" and "Medium Term Expenditure Framework" introduced

· Central subsidies to be kept under 2 per cent of GDP; to be further brought down to 1.75 per cent of GDP over the next 3 years.

· Proposed: Mobile based fertilizer management system; LPG transparency portal; scaling up and rolling out of Aadhar enabled payment for government schemes in at least 50 districts.
· Rs. 30,000 crore to be raised through disinvestment

· Efforts to reach broadbased consensus on FDI in multi-brand retail
· Rajiv Gandhi Equity Saving Scheme: to allow income tax deduction to retail investors on investing in equities

· Rs. 15,888 crore to be provided for capitalization of public sector banks and financial institutions

· A central "Know Your Customer" depository to be developed

· Swabhimaan: remaining habitations to be covered; to be extended to more habitations; ultra small branches to be set up in Swabhimaan habitations

· Investment in 12th Plan in infrastructure to go uptoRs. 50,00,000 crore; half of this is expected from private sector

· Tax Free Bonds of Rs. 60,000 crore to be allowed for financial infrastructure projects

· Allocation of Road Transport and Highways Ministry enhanced by 14 per cent to Rs. 25,360 crore

· Financial package of Rs. 3,884 crore for waiver of loans to handloom weavers and their cooperative societies; mega handloom clusters in Andhra, Jharkhand; weaver service centres in Mizoram, Nagaland and Jharkhand ; powerloom mega cluster in Maharashtra; Rs. 500 crore pilot schemes for geo-textiles in North-Eastern region

· Rs. 5,000 crore India Opportunities Venture Fund to help small enterprises

· Allocation to agriculture enhanced; RKVY gets Rs. 9,217 crore; BGREI gets Rs. 1,000 crore; Rs.2242 crore project to improve dairy productivity; Rs. 500 crore for coastal aquaculture

· Various other agricultural activities merged into 5 missions

· Target for agricultural credit raised to Rs. 5,75,000 crore

· Interest subvention for short-term crop loans to farmers at 7 per cent interest continues; additional 3 per cent for prompt paying farmers

· Rs. 200 crore for awards to incentivise agricultural research
· Provisions under rural housing fund increased to Rs. 4,000 crore from Rs. 3,000 crore

· Interest subvention of 1 percent on housing loans uptoRs. 15 lakh extended for one more year

· AIBP allocation raised by 13 per cent to Rs. 14,242 crore

· National Mission on Food Processing to be started in cooperation with State Governments

· Scheduled Caste Sub Plan allocation increases by 18 per cent to Rs. 37,113 crore; Tribal Sub Plan by 17.6 per cent to Rs. 21,710 crore

· Multi-sectoralprogramme to address maternal and child malnutrition in 200 high burden districts

· 58 per cent rise in allocation to ICDS, at Rs. 15,850 crore

· Rural drinking water and sanitation gets 27 per cent rise in allocation to Rs. 14,000 crore; PMGSY gets 20 per cent rise to Rs. 24,000 crore

· Projects covering length of 8800 km to be awarded under NHDP against 7,300 km during 2011-12

· RTE-SSA gets Rs. 25,555 crore allocation, showing an increase of 21 per cent; 6000 schools to be set up at block level as model schools in the 12th Plan; Credit Guarantee Fund to be set up for better flow of credit to students

· National Urban Health Mission is being launched

· 34 per cent increase in allocation to National Rural Livelihood Mission, to Rs. 3915 crore

· Rs. 1000 crore allocated for National Skill Development Fund

· Bharat Livelihood Foundation to be established to support livelihood interventions particularly in tribal areas

· Widow pension and disability pension raised from Rs. 200 to Rs. 300 per month

· Grant on death of primary breadwinner of a BPL family in the age group 18-64 years doubled to Rs. 20,000

· Defence services get Rs. 193407 crore; any further requirement to be met

· 4000 residential quarters to be constructed for Central Armed Police Forces

· UID-Aadhar to get adequate funds for enrolment of 40 crore persons, in addition to the 20 crore persons already enrolled

· White Paper on Black Money to be laid in the current session of Parliament

· Tax proposals mark progress in the direction of movement towards DTC and GST

· Income tax exemption limit raised from Rs.1,80,000 to Rs.2,00,000; upper limit of 20 per cent tax slab raised from Rs.8 lakh to Rs.10 lakh

· Interest from savings bank accounts deductible upto Rs.10,000; deduction of upto Rs.5,000 for preventive health check-up

· Senior citizens without business income exempt from advance tax

· Investment linked deduction of capital expenditure enhanced for certain businesses; new sectors eligible for investment linked deduction

· Turnover limit for compulsory tax audit for SMEs raised from Rs.60 lakh to Rs.1 crore

· STT on cash delivery reduced by 25 per cent to 0.1%

· General Anti Avoidance Rule being introduced to counter aggressive tax avoidance

· A number of measures proposed to deter generation and use of unaccounted money

· All services to attract service tax except those in the negative list

· Central Excise and Service Tax being harmonized

· Standard rate of excise duty raised from 10 per cent to 12 per cent; service
tax rates raised from 10 per cent to 12 per cent; no change in peak customs duty of 10 per cent on non-agricultural goods

· Relief in indirect taxes to sectors under stress; agriculture, infrastructure, mining, railways, roads, civil aviation, manufacturing, health and nutrition, and environment get duty relief

· Certain cigarettes and bidis attract higher excise duty; large cars attract higher customs duty

· Excise imposed on unbranded jewellery also; measures to minimize impact on small artisans and goldsmiths; branded silver jewellery exempted from excise duty

· Net gain of Rs.41,440 crore due to taxation proposals

· Total expenditure budgeted at Rs. 14,90,925 crore; plan expenditure at Rs. 5,21,025 crore – 18 per cent higher than 2011-12 budget; non plan expenditure at Rs. 9,69,900 crore

· Fiscal deficit targeted at 5.1 per cent of GDP, as against 5.9 per cent in revised estimates for 2011-12

· Central Government debt at 45.5 per cent of GDP as compared to Thirteenth Finance Commission target of 50.5 per cent

· Medium-term Expenditure Framework Statement to be introduced; will set forth 3-year rolling target for expenditure indicators

ranga

March 16th, 2012, 03:03 PM

Where Chennai has to improve is in changing some of the misconceptions about the city as well as creating a better environment for professionals. As a non-Tamil student if I had to highlight pluses and minuses, I would say:

Pluses:
1. Feel relatively safer in Chennai than Bangalore
2. Language issues are slowly reducing, in fact I was surprised by how helpful people in general were.
3. MRTS covers a lot of the city, though frequency and coverage needs to improve.

Negatives:
1. Buses badly need to be revamped and overhauled. Not just new buses but enough new buses.
2. City needs more leisure options, more options for recreation. If you want to chill out or relax there are too few options. Something like NCPA in Mumbai can be explored.
3. More stress needs to be given on the beautification of the city.

Every Indian city has to improve not just chennai.Each city has its own shortcomings.People who can speak only tamil or english can carry on in chennai.many north indians who just could speak hindi when they landed in chennai and are now doing thriving business and now speak the local language also.As a banker i have come across many non tamil traders (customers) setlling down in chennai for good.I have lived in almost all the major metros during my service and could easily adjust every where as i could speak four indian languages apart from english.However tamil being my mother tongue i enjoyed my stay in chennai depite the fact that our family migrated to Hyderabad 125 years back during the rein of the sixth nizam and lost touch with our roots.residents of differebt cities have their own ways of entertainment and leisure joints and it cannot be stereotyped.

ranga

March 16th, 2012, 03:25 PM

Yes, these sales guys from different parts of India (mostly Mumbai + north) stationed onsite, close to client locations. As some one pointed out, Chennai lags behind in attracting senior management ppl. A good night life, more entertainment is the need of the hour. Language problem is slowly diminishing and climate is out of control

But these north indian guys are scared of allowing their sisters to work in NCR/Delhi.It will take some more years for the northies to shed these perceptions about chennai.I have come across these guys being shunned in chennai most of the times and they look preplexed and are at sea and i have helped many such fellows in chennai.But i have come across people from TN in Mumbai,Delhi and Kolkatta who could not utter a word in hindi but still the locals helped them out and many such fellows happily settled down and eked out a living.Tamil speaking flower sellers in chembur in Mumbai still speak most of the time in tamil and hardly in the local language marathi depite living there for decades.

chennaidesi

March 16th, 2012, 04:27 PM

What you are saying is as if Sriperumbudur developed ONLY because of Hyundai factory...

I have had enough of the talk about IT bringing in the boom in economy, boom in real esate prices, caused city expansion and so on!! Pleaseeeeeee understand that IT makes just about 10-15% of India's economy and it CAN NOT really change the dynamics of cities overnight. With more IT companies, banks had more business to do.. catering business picked up, more real estate was required, travels/cab facilities, travel agents, etc. picked up.. This is the case with any industry. Chennai has been growing in all 3 sides (1 side left over bcos of the seas ;)).. Velachery, Tambaram, Ambattur, Porur, Tiruvottiyur, etc were places which were not populated so much 2 decades back.. Now a parcel of land there costs a fortune.. That is because the city is expanding organically.. Not all these areas have IT companies around them.. hope this makes sense..

the same arguement comes to salaries and paying more rents.. people say as if only bcos of IT companies rents have increased.. Gaawd!! it's bcos of the greed of house owners and the new-found demand that rised the rentals.. even a clerical job in a private organisation, a just-passed-out gets 2L p.a as salary now.. Why are people simply saying IT people are paid more.. Banks, MNCs, Hospitality industry, Aviation, Manufacturing, Marketing, Media and so many others pay employees so much more than any IT company.. so please stop the arguement that only IT company guys earn more and spend more.. Overall GDP is increasing not just bcos of IT..

P.S: Don't think I'm a non-IT guy.. I'm very much part of IT.. :)

Prabhu I think you are missing the point even though IT makes 8.5% GDP that is the core investement rest mostly depends on this. If you look IT triggered car sales in India from late 90's and now in late 2000's nissan is investing billions becuase of 90's IT triggering growth. If indians are doing a great job in manufacturing plants and saving money and producing good quality products that can help manufacturers in saving money manuf. will invest more in India and export from india and thus triggering one more avenue for investments so initially IT did that for India now let us see what are the other areas we can master or get success in world level(like auto etc)

karkal

March 16th, 2012, 05:31 PM

I have studied with lot of N. Indians especially from Jains / marwari community in chennai, Most of them don't know to speak proper English (or) tamil. They all run multi crore family businesses in real estate,colleges,retail stores, pawn shops etc based out of chennai for several decades.They have also created their own place called sowcarpet within chennai.

chennaidesi

March 16th, 2012, 05:47 PM

Arul,
In 90s schools are in the hands of Govt. Bars are in the hands of Pvt .
Now in 2012, Schools are in Pvt and Bars are with govt.
irony... right...
all the Political parties offering "huge" freebies, computer, tablet, gold, TV, fan, mixie...
Did any political party promises "Free education, Free water "?

Great Idea man give free all tv computer etc so people will spend on bars and bars are owned by politians. :lol:

As a govt you have authority go give TV free and legally you run the bar and make money nice.:)

chennaidesi

March 16th, 2012, 06:09 PM

A good night life, more entertainment is the need of the hour for call center and BPO lower level employees and stuff. Sr.Management folks will fly to Bangkok (alas i have to go there for a chess tournament and not on an office VP's bachelor's party) :D

Man this Bachelor party concept is becoming big in Chennai and TN i think.
A week back I was talking to a guy in Tirupur who said his frined went to a bachelor party in Coimbatore and Vijay TV sivakarthikeyan was the chief guest.
My question what events are organized I hope not like US bachelor parties right?

chennaidesi

March 16th, 2012, 06:16 PM

But these north indian guys are scared of allowing their sisters to work in NCR/Delhi.It will take some more years for the northies to shed these perceptions about chennai.I have come across these guys being shunned in chennai most of the times and they look preplexed and are at sea and i have helped many such fellows in chennai.But i have come across people from TN in Mumbai,Delhi and Kolkatta who could not utter a word in hindi but still the locals helped them out and many such fellows happily settled down and eked out a living.Tamil speaking flower sellers in chembur in Mumbai still speak most of the time in tamil and hardly in the local language marathi depite living there for decades.

I expect those flower sellers soon will come back to TN as slum rehab is going big in Mumbai and people are getting in crores for 20 X 10 size lands.:lol:

krishnaswamy

March 16th, 2012, 06:31 PM

The footer timing is very right " Pitchai Puginum Karkhai Nanrae". With the current education system they will make us beg to give adecent education to kids.
hit the bulls eye..

:applause::applause:

murlee

March 16th, 2012, 06:32 PM

China wants to open consulate in Chennai

China has proposed to open a new consulate in Chennai. However, India has yet to take a decision on this.In a written reply in Rajya Sabha on Thursday, the Minister of State for External Affairs Preneet Kaur said that there were three “pending proposals” for opening new consulates in India. These included the Chinese proposal to open an office in Chennai, from Canada in Bengaluru and from the UK to open consulates in Hyderabad and Chandigarh.
According the MEA officials, China had first asked the permission to open a consulate in Chennai in the last one year. “We are looking into the proposal,” he said.
Usually, the decision is based on reciprocity, with both countries having an equal number of consulates. “We still have to decide on the city to open a new consulate,” said a government official.
Chennai was chosen over other Indian cities, due to its position as a port city, he added. It has the third high number consulates and deputy high commissions in India of 11 countries - Australia, Canada, Germany, Japan, Malaysia, Russia, Singapore, Sri Lanka, Thailand, the UK and the US.

http://ibnlive.in.com/news/china-proposes-to-open-consulate-in-chennai/239630-62-130.html

jaish

March 16th, 2012, 06:41 PM

Good news. Why indian government is worrying

murlee

March 16th, 2012, 06:46 PM

We have much more than 11 countries in Chennai.. Dunno why they mention only 11..

Acc. to this link (http://www.myvigyapan.com/chennai/general-information/consulates.php), 29 countries present as of now.

H Factor

March 16th, 2012, 07:10 PM

This IT & non IT discussion has been done many times in the forum. I recently read in the property column that chennai's real estate demand is primarily due to IT/ITES workforce though it was perceived to be different. But the IT/ITES workforce does nt invest only in OMR. Since these workforce comes from different part of chennai, they invest in the area they are from and show greater amount of hesitation to move to new localities and upcoming suburban like OMR. This is one of the reason that the real estate growth is spreading in all directions of Chennai. Whether IT/ITES is really a knowledge industry or not and irrespective of the nature of the job people does, IT industry has greater % of high disposable income group among the salaried class. The number of direct employment to land ratio in IT is also very high.

sugu

March 16th, 2012, 07:12 PM

murlee

March 16th, 2012, 07:20 PM

If we get China, 4 out of 5 permanent members of UNSC would be in Chennai. :cheers:

France would be the only one missing and I don't see them opening in Chennai as they have one in Pondicherry.

jaish

March 16th, 2012, 07:46 PM

The footer timing is very right " Pitchai Puginum Karkhai Nanrae". With the current education system they will make us beg to give adecent education to kids.

The person who had said must be good astrologer. He said this long time back

R2IChennai

March 16th, 2012, 07:48 PM

If we get China, 4 out of 5 permanent members of UNSC would be in Chennai. :cheers:

France would be the only one missing and I don't see them opening in Chennai as they have one in Pondicherry.

They have one in Bangalore also

Arul Murugan

March 16th, 2012, 08:13 PM

China wants to open consulate in Chennai

http://ibnlive.in.com/news/china-proposes-to-open-consulate-in-chennai/239630-62-130.html

:banana:

R2IChennai

March 16th, 2012, 08:18 PM

:banana:

We need some consulates South Africa, Brazil, Argentina, Australia and Indonesia

murlee

March 16th, 2012, 08:31 PM

Looks like we do have a Honorary consulate of France in Chennai..

Here is the complete list of countries.

http://en.wikipedia.org/wiki/List_of_diplomatic_missions_in_Chennai

satishanu

March 16th, 2012, 08:34 PM

Chennai have 39 consulates (including Ethopia) in all. France, South Africa and Indonesia already have consulates in Chennai.

http://www.embassypages.com/india.php

TShyam

March 16th, 2012, 09:47 PM

Wiki list gives 49 representations in Chennai. If China establishes, then they will be the 50th. Brazil is the only top economy missing from the list.

Btw have anyone noticed the date of establishment for US consulate? 24th November 1794!! :nuts: :cheers:

But I have read somewhere that US established their first overseas consulate (their first anywhere in the world) in Calcutta. It should have been even earlier.

chennaidesi

March 16th, 2012, 09:48 PM

We really need Brazil consulate.
Remember Rio remember the movie Blame it on Rio acter by Demi Moore.

TShyam

March 16th, 2012, 09:56 PM

But I have read somewhere that US established their first overseas consulate (their first anywhere in the world) in Calcutta. It should have been even earlier.

Correction: It is the second consulate and was started in 1792. It is given in Wiki. (http://en.wikipedia.org/wiki/History_of_Kolkata)

In fact, the U.S Consulate in Calcutta is the U.S. Department of State's second oldest Consulate and dates from November 19, 1792.

R2IChennai

March 16th, 2012, 10:00 PM

Chennai have 39 consulates (including Ethopia) in all. France, South Africa and Indonesia already have consulates in Chennai.

http://www.embassypages.com/india.php

what is the point if honorary consulate does not provide visa services?

TShyam

March 16th, 2012, 10:09 PM

what is the point if honorary consulate does not provide visa services?

Mainly for trade relations. You can decipher that just by looking at the names of Honorary consuls - Kothari, A.C Muthiah, Venu Srinivasan, MA Alagapan, AVM Balasubramaniam, R.Sheshayee etc. All are business people. These consulates will facilitate trade between the countries. That is why Brazil consulate ranks very high in my priority.

chennaidesi

March 16th, 2012, 10:15 PM

True consulates help trade. The weakest link of TN people so we need to improve.
We need to learn from gujus.

R2IChennai

March 16th, 2012, 10:36 PM

chennaidesi

March 16th, 2012, 10:39 PM

Again look at other factors like growth in manufacturing which chennai had recently and also the lack of areas for growth since one side is surrounded by sea when compared to bgl.

karkal

March 16th, 2012, 10:55 PM

Also BLR had a phenomenal run the previous 5 yrs. I still feel Chennai will be much cheaper for comparable areas.

HYD could have the next 5 years provided the political uncertainty is resolved.

satishanu

March 16th, 2012, 11:23 PM

I wonder why property prices in Bangalore did not rise as much as chennai when Bangalore has atleast 2.5 times the IT population of Chennai

Could be many(significant) are non-locals (outsiders like northies, tams, mallus etc) and most are investing in their native place compared to chennai.

TShyam

March 16th, 2012, 11:52 PM

I hate it when people generalize. Are you sure we are so weak in trade (and business)? What kind of evidence (historical, present) do you need to convince yourself that we are not that bad in business or entrepreneurship? You see just because we have a lot of people employed in IT, it doesnt mean we lack entrepreneurship. It just means people take the safer, less risky option if it is available.

I really dont understand how this stereotype of Tamils not good in business started!! Our ancestors have established relationships and traded with far off lands from Rome to Sumatra. TN particularly from the Kongu and Chettinad region can probably boast of the densest group of successful entrepreneurs from India in the last millennium ranking right along with the Parsis. So please stop this generalization and think before you blindly follow the media generated hype about Gujarat. They are good but that does not necessarily mean we are bad. Every society has their successful crop of entrepreneurs and in that respect, Tamils doesn't have anything to be ashamed of. Please stop this self deprecation. If you dont believe in yourself, no one else will.

chennaidesi

March 17th, 2012, 12:05 AM

I meant something differently.
Tamils can take a business from zero to 100 crores but going beyond that needs some unfair business practices and some dada giri with the help of underworld etc in with tamil enterp. are not good(or they want to be more ethical) and also the risk taking ability after certain levels is very low.
But look at other groups from some other states they can do it better.

TShyam

March 17th, 2012, 12:56 AM

100 crores? Is that your cut off?? Phew sappa matter. There are so many, even I know a few with 100 crore businesses. Even if you put a 10000 crore barrier, we have a big field (Maran, Shiv Nadar, TTK, Amalgamation, ABT, Srinivasan, TVS, Sundaram, Shriram, Shakti, Saravana, Murugappa etc etc not to mention our huge cache of ultra wealthy politicians who wont be "officially" on these lists). If you reduce your cut off to 1000 crores, then the list will become really really lengthy. We may not have the equivalent of Tata or Ambani (lakhs of crores) thats it.

Maybe they dont have enough NDTV and CNN-IBN tv time of say Tata or Ambanis or Godrej or Mallya but that doesnt mean they are not rich or they are not as good a businessmen.

And your post raises an important question. Do you really want people who will get rich by hook or crook or by dadagiri or through underground just so that we will have someone in the richest and most successful list?? I am not too sure if that is the right way of looking at the world. It shows desperation and insecurity. And just to be sure, TN do have plenty of those kind of people. Till now I thought that was bad.

Anniyan

March 17th, 2012, 01:56 AM

Good news. Why indian government is worrying

Maybe they are worried that china will develop friendship with activist like Seeman ;)

R2IChennai

March 17th, 2012, 04:41 AM

Also BLR had a phenomenal run the previous 5 yrs. I still feel Chennai will be much cheaper for comparable areas.

HYD could have the next 5 years provided the political uncertainty is resolved.

Dude
I am not comparing the super luxurycondos or anything but average 3 bedroom
My comparisons
In the core city area for Chennai the entry point is 10000Rs Bangalore it is 6000Rs,It goes to 15000Rs in the city and in Bangalore it is 8000-9K
Suburbs Chennai 6000 to 8000 bangalore 4000-6000
Outskirts Chennai 3000 to 6000 Bangalore 2500-4000
Far away suburbs are probably same in both places

Hyderabad even the poshest Jublee hills is 6500-7000
Madhapur-5000Rs, Banjara hills 6000Rs Where as our RA puram Gopalapuram Poes Garden, MRC nagar ranges 15000 to 25000Rs

sridhar_n

March 17th, 2012, 05:35 AM

sridhar_n

March 17th, 2012, 05:48 AM

Arul,
In 90s schools are in the hands of Govt. Bars are in the hands of Pvt .
Now in 2012, Schools are in Pvt and Bars are with govt.
irony... right...
all the Political parties offering "huge" freebies, computer, tablet, gold, TV, fan, mixie...
Did any political party promises "Free education, Free water "?

simple...they make money through the freebies...who knows how many they ordered and how many were distributed!!! free water / education...huh...no incentive for them to make money...why waste time on it...

jaish

March 17th, 2012, 10:14 AM

Maybe they are worried that china will develop friendship with activist like Seeman ;)

When Indian government will understand us fully. Tamils are only good at talking and not capable of much in Action. Why they should worry even after seeing DMis action i.e only stunts nothing in action. May they are wondering all these people are comedy pieces Manaketta pasenga evollo Adichalum Thanguvanga..
sudu soranya pachuku kooda kidayhu.

ranga

March 17th, 2012, 10:15 AM

^^It is a real mystery..and what also puzzles me is that the rentals are better in bangalore than in Chennai...so we invest huge money to get an apartment in Chennai and the rent/emi ratio is hardly 20% in OMR!!

salaries are higher in bangaluru than in chennai so rents are higher.Rents in chennai may also go up in course of time.

Cosmicbliss

March 17th, 2012, 11:20 AM

Every Indian city has to improve not just chennai.Each city has its own shortcomings.People who can speak only tamil or english can carry on in chennai.many north indians who just could speak hindi when they landed in chennai and are now doing thriving business and now speak the local language also.As a banker i have come across many non tamil traders (customers) setlling down in chennai for good.I have lived in almost all the major metros during my service and could easily adjust every where as i could speak four indian languages apart from english.However tamil being my mother tongue i enjoyed my stay in chennai depite the fact that our family migrated to Hyderabad 125 years back during the rein of the sixth nizam and lost touch with our roots.residents of differebt cities have their own ways of entertainment and leisure joints and it cannot be stereotyped.

A city has to offer various kinds of entertainment options, not just those that the local people are into. Of course every city has to improve. However, its good that the language situation is changing. Like it or not, just as many Tamilians in Mumbai/Bangalore can't speak Kannada/Marathi there's no big deal if there a lot of Northies/Bengalis etc who can't speak Tamil even after many years of living in Chennai. In an increasingly cosmopolitan India, local language learning is good but one has to accept the presence of people who don't speak it.

As far as other amenities are concerned, Chennai is not too bad but has to improve further. I enjoyed my stay in the city very much even though my mother tongue is not Tamil because I was curious about the city and tried my best to learn about it. I have always maintained the best way to enjoy a place is to be interested and curious about it. :cheers:

Cosmicbliss

March 17th, 2012, 11:21 AM

True consulates help trade. The weakest link of TN people so we need to improve.
We need to learn from gujus.

Gujaratis and Punjabis.

jaish

March 17th, 2012, 12:12 PM

Cosmicbliss

March 17th, 2012, 12:18 PM

May be now we need coin new saying. When you are chennai, Make chennaite to behave they way you want ( Punish them if they dont talk your language, scorn them if they dont eat what you want them to eat) Tamil culture is in ICU. Join Hands to kill it immediately as I could not bear to see it suffering.

Mr. Jaish, When I was in Chennai, I made every attempt to learn Tamil and even learnt to read Tamil script also and can read but slowly even though I was staying for 10 months only. Many others are there like me who love and respect Tamil culture as much as their own. I don't think Tamil culture is in ICU at all, in fact Tamil songs have shown ability to cross national and state borders as 'Kolaveri Di's song amply shows. As much as Tamils outside respect local language, non-Tamils respect Tamil.

SVG

March 17th, 2012, 12:24 PM

Dude
I am not comparing the super luxurycondos or anything but average 3 bedroom
My comparisons
In the core city area for Chennai the entry point is 10000Rs Bangalore it is 6000Rs,It goes to 15000Rs in the city and in Bangalore it is 8000-9K
Suburbs Chennai 6000 to 8000 bangalore 4000-6000
Outskirts Chennai 3000 to 6000 Bangalore 2500-4000
Far away suburbs are probably same in both places

Hyderabad even the poshest Jublee hills is 6500-7000
Madhapur-5000Rs, Banjara hills 6000Rs Where as our RA puram Gopalapuram Poes Garden, MRC nagar ranges 15000 to 25000Rs

True... I think the reason (at least in HYD) is availability of land. Madhapur still has a good amount of land and these are barren land, rocky and not useful for any other purpose. Its easy to build large projects so the supply is huge. Even now, plenty of flats available. However, the appreciation is hardly there. You can buy one, go and stay there. But if the intention is appreciation in value / investment, the returns are non-existent.

jaish

March 17th, 2012, 12:29 PM

Cosmic Bliss nothing to offend you. I know all your efforts in learning from Arasu's thread. I am talking about all the others. Kolaveri song is not Tamil song may be music to some extent.

Come on friend let us accept the reality. I call upon all tamils to erase tamil culture before it claims any victim.

Cosmicbliss

March 17th, 2012, 12:36 PM

Jaish, why you feel Tamil culture is not doing so well? Among regional languages, Tamil is doing very well I think.

jaish

March 17th, 2012, 12:42 PM

That is because you are either not aware state of affairs or having height of positive attitude. In your opinion what made other language to loose its sheen.

TShyam

March 17th, 2012, 12:58 PM

Seriously guys! Nothing wrong in discussing these things but none of the posts in the last 2 pages have anything to do with IT corridor. It has simply been hijacked.

I have been chastised for being off topic in a much more narrower sense than what is going on here.

ranga

March 17th, 2012, 01:07 PM

A city has to offer various kinds of entertainment options, not just those that the local people are into. Of course every city has to improve. However, its good that the language situation is changing. Like it or not, just as many Tamilians in Mumbai/Bangalore can't speak Kannada/Marathi there's no big deal if there a lot of Northies/Bengalis etc who can't speak Tamil even after many years of living in Chennai. In an increasingly cosmopolitan India, local language learning is good but one has to accept the presence of people who don't speak it.

As far as other amenities are concerned, Chennai is not too bad but has to improve further. I enjoyed my stay in the city very much even though my mother tongue is not Tamil because I was curious about the city and tried my best to learn about it. I have always maintained the best way to enjoy a place is to be interested and curious about it. :cheers:

Unlike Bangaluru or Hyderabad chennai is less attractive for boozers.There are many tamils settled in bangaluru,mysore shimoga,chennapatna etc who speak kannada fluently.There is a community called mandya iyengars who read and write kannada only though their mother tongue is tamil like palghat iyers in kerala whose mother tongue is tamil but can read and write only in malayalam.my mother tongue is tamil but i am more proficient in hindi and urdu but not the local language telugu.Cosmicbliss if u are from andhra then tamil language and culture may not be curious to u but for the people here in telengana they have no idea of TN or its language.In the eighties itself chennai had many language & cultural clubs for telugus,malayalees,kannadigas,sikhs,gujaratis,marwaris,Marathis when Hyderabad had only for the tamils and rajasthanis.Unlike telugus,kannadigas and even maharashtrians tamilians have settled in different parts of the country and in 48 countries.Its a wide diaspora and one of the official language in Srilanka,singapore,Malayasia is tamil.Don't have the impression that people in TN/chennai are frogs in a well,have no idea about entertainment.In many malls in Hyderabad people from districts have been appointed and they only speak telugu and customers not knowing the local language are having tough times.Don't think in Bangaluru and hyderabad(except local muslims and very few nonmuslims apart) every body speak hindi.I did try in both the places and found only very few are conversant in hindi.India is not a cosmopolitan country and its not that people not knowing tamil in chennai are suffocating.After the telugu people from coastal andhrra fought for linguistic states even before independence the seed of language fanaticism and parochialism has been sown.The division has become so conspicuous that every state talk about their language pride and call themselves telugus,tamils gujarathis,maharashtrians,malayalees biharis,U.P etcin any get together abroad but not as Indians.If that is the case why always pick chennai for improvements BTW what improvements?All other cities have passed this test of so called improvement?:ohno:.

kannan infratech

March 17th, 2012, 05:13 PM

vinodgopal

March 17th, 2012, 05:25 PM

Ethiopia also recently opened consulate in chennai I guess...

wow. does somalia have an embassy too?

chennaidesi

March 17th, 2012, 07:13 PM

One more thing the guys working in consulates hire hugh houses in ECR area so really good for residential part of economy.

karkal

March 17th, 2012, 08:04 PM

I work with most of the Consulates esp in Chennai. Most of them have Trade Reps in India and it is only because of their efforts, many projects / deals are done.

We find very difficult to deal with South American countries even though trade is growing by leaps & bounds. If India employs more Trade Reps in those countries, they will also reciprocate. Our Pharma major Inds are having many plants in South America. Agriculture related Inds are also growing there. India should beat China in SA (We lost in Africa)

Fully agree on Latin America (SA + Mexico+ central American countries)

Last year I went on a business trip to Mexico , pleasantly surprised to see Indians(Tamils) working there in large numbers.

If I'm not mistaken Mexico City also has quite a few Indian restaurants and also a temple.

Lot of potential waiting to be tapped by India.

bonoslack7

March 17th, 2012, 09:25 PM

http://www.eeas.europa.eu/delegations/india/documents/more_info/eu_cultural_events/2012/screening_card_chennai.pdf

sugu

March 17th, 2012, 09:29 PM

Unlike Bangaluru or Hyderabad chennai is less attractive for boozers.There are many tamils settled in bangaluru,mysore shimoga,chennapatna etc who speak kannada fluently.There is a community called mandya iyengars who read and write kannada only though their mother tongue is tamil like palghat iyers in kerala whose mother tongue is tamil but can read and write only in malayalam.my mother tongue is tamil but i am more proficient in hindi and urdu but not the local language telugu.Cosmicbliss if u are from andhra then tamil language and culture may not be curious to u but for the people here in telengana they have no idea of TN or its language.In the eighties itself chennai had many language & cultural clubs for telugus,malayalees,kannadigas,sikhs,gujaratis,marwaris,Marathis when Hyderabad had only for the tamils and rajasthanis.Unlike telugus,kannadigas and even maharashtrians tamilians have settled in different parts of the country and in 48 countries.Its a wide diaspora and one of the official language in Srilanka,singapore,Malayasia is tamil.Don't have the impression that people in TN/chennai are frogs in a well,have no idea about entertainment.In many malls in Hyderabad people from districts have been appointed and they only speak telugu and customers not knowing the local language are having tough times.Don't think in Bangaluru and hyderabad(except local muslims and very few nonmuslims apart) every body speak hindi.I did try in both the places and found only very few are conversant in hindi.India is not a cosmopolitan country and its not that people not knowing tamil in chennai are suffocating.After the telugu people from coastal andhrra fought for linguistic states even before independence the seed of language fanaticism and parochialism has been sown.The division has become so conspicuous that every state talk about their language pride and call themselves telugus,tamils gujarathis,maharashtrians,malayalees biharis,U.P etcin any get together abroad but not as Indians.If that is the case why always pick chennai for improvements BTW what improvements?All other cities have passed this test of so called improvement?:ohno:.
Its a wide diaspora and one of the official language in Srilanka,singapore,Malayasia is tamil....also mauritius..

H Factor

March 18th, 2012, 05:10 AM

salaries are higher in bangaluru than in chennai so rents are higher.Rents in chennai may also go up in course of time.

Rentals in chennai is high considering the facility and infrastructure especially in south. A small 1bhk house in Tiruvanmiyur built by TNSCB goes for 9000 rs. Even in far away places like Navalur, padur where there is no availability of retail outlets the rental for 2bhk house is 10k with 3bhk somewhere between 14k to 18k. Many of my friends who relocated from places like pune, bangalore were shocked to find the rental being so high. Salaries in chennai are very much comparable to other southern metros. I have data to prove this. In IT chennai salary is only marginally low when compared to bangalore

karkal

March 18th, 2012, 05:31 AM

Looks like Chennai caught up on all fronts:lol:

Ramki830

March 18th, 2012, 11:26 AM

Rentals in chennai is high considering the facility and infrastructure especially in south. A small 1bhk house in Tiruvanmiyur built by TNSCB goes for 9000 rs. Even in far away places like Navalur, padur where there is no availability of retail outlets the rental for 2bhk house is 10k with 3bhk somewhere between 14k to 18k. Many of my friends who relocated from places like pune, bangalore were shocked to find the rental being so high. Salaries in chennai are very much comparable to other southern metros. I have data to prove this. In IT chennai salary is only marginally low when compared to bangalore

+1.

I did some research on this and found that the following are the reason:

1. New Built up area addition (i mean aggregate addition of volume of housing) has been much less in Chennai in last 10 years (2002-2012) compared to BLR.
2. Infrastructure in Chennai suburbs - esp water, drainage has been deficient compared to other cities of comparable size
3. Investment in public facilities like Transport has been lacking in Chennai.

Of above points, 1 is now only being addressed, lot of new projects are coming up but it will be 2017-18 before large volume of housing units comes up.

2 is not improving much. 3 is improving a bit with metro/mono but wait till end of decade before things improve.

One merit of Chennai compared to BLR was/used to be our power situation, but now even that is gone.

Ramki830

March 18th, 2012, 11:28 AM

Hyderabad even the poshest Jublee hills is 6500-7000
Madhapur-5000Rs, Banjara hills 6000Rs Where as our RA puram Gopalapuram Poes Garden, MRC nagar ranges 15000 to 25000Rs

Prices in Hyderabad are depressed due to Telengana issue. Once that gets settled (which will/can happen only after 2014), HYD RE will skyrocket.

Ramki830

March 18th, 2012, 11:51 AM

Unlike Bangaluru or Hyderabad chennai is less attractive for boozers.There are many tamils settled in bangaluru,mysore shimoga,chennapatna etc who speak kannada fluently.There is a community called mandya iyengars who read and write kannada only though their mother tongue is tamil like palghat iyers in kerala whose mother tongue is tamil but can read and write only in malayalam.my mother tongue is tamil but i am more proficient in hindi and urdu but not the local language telugu.Cosmicbliss if u are from andhra then tamil language and culture may not be curious to u but for the people here in telengana they have no idea of TN or its language.In the eighties itself chennai had many language & cultural clubs for telugus,malayalees,kannadigas,sikhs,gujaratis,marwaris,Marathis when Hyderabad had only for the tamils and rajasthanis.Unlike telugus,kannadigas and even maharashtrians tamilians have settled in different parts of the country and in 48 countries.Its a wide diaspora and one of the official language in Srilanka,singapore,Malayasia is tamil.Don't have the impression that people in TN/chennai are frogs in a well,have no idea about entertainment.In many malls in Hyderabad people from districts have been appointed and they only speak telugu and customers not knowing the local language are having tough times.Don't think in Bangaluru and hyderabad(except local muslims and very few nonmuslims apart) every body speak hindi.I did try in both the places and found only very few are conversant in hindi.India is not a cosmopolitan country and its not that people not knowing tamil in chennai are suffocating.After the telugu people from coastal andhrra fought for linguistic states even before independence the seed of language fanaticism and parochialism has been sown.The division has become so conspicuous that every state talk about their language pride and call themselves telugus,tamils gujarathis,maharashtrians,malayalees biharis,U.P etcin any get together abroad but not as Indians.If that is the case why always pick chennai for improvements BTW what improvements?All other cities have passed this test of so called improvement?:ohno:.

Mostly agree, good points.

BTW on first line booze part and its importance to bring investment/talent into a city. I disagree. This may matter only for some industries tourism and fashion . Not for others. Good example is to compare Kochi and Ahmedabad, which is the place a businessman would prefer to invest ?

TShyam

March 18th, 2012, 12:16 PM

bronx_bull

March 18th, 2012, 02:44 PM

I am posting here for the first time even though,i have been reading for a longtime.

I am from Madras(I hate the term Chennai) and have lived there for the first 17 years of my life,living in Ashok Nagar.Biggest issues of Madras:

1. Highly hostile reception. The whole reception in Madras is unfriendly and hostile whether it be the airport/railway station or anything else.

2. Language problem- This is a long researched topic but it is true that historically political compulsions have made people show negative emotions towards North Indians/anyone with a little fair skin.This has caused a huge perception crisis and the hostility of our rickshaw drivers dont help.

the average person you see in front of you is generally uncouth/hostile tempered/looks like he is going to mug you and rob you.the rickshaw drivers behave like big studs and run around with party flags on their autos.their attitude is very bad and forget about the no meter rule,people are scared to get into an auto.

One more problem,often u ll find rickshaw drivers go straight to a petrol station and ask you for money to put fuel.I have never seen it happen anywhere,these things irritate the customers to death.

Cleanliness- Madras stinks like bad,very bad.It stinks too much apart from the Cooum and bad drainage facilities/you also see that these days with more and more people the thing gets worse and worse.

Bad reception in local grocery shops/potti kadai- The sellers behave like big heroes and wont give change and have no concept of selling/marketing.They are used to being the only grocerers in the area and have no experience of showing politeness to the customers.I have seen people refuse business because if not able to have/get change.

One thing is there is a fundamental conservativeness about the city,which we dont have to or should not get rid off but then if you want to market yourself well,there are so many things that have to be done.Way too many things.The airport for example,we should have had a new airport like AP/Karnataka.

To be honest Madras get slotted along with Kolkata instead of Mumbai/Delhi as i feel it was/is better than Bangalore and Hyderabad on so many things in terms of being a bigger city even though Hyd/Blr are better smaller(relatively) for a nice leisurely living,especially weather wise.

Bangalore and Hyderabad are also cities built by the British and Nizam for a comfortable living and hence have naturally better lifestyles(cant put it into words easily but u can feel it in the air when u r there)

Madras is exactly like Kolkata even though it shouldn't be,it has all the bad qualities of Kolkata and its own also.Infact i know most people of Southern and Western TN friends who chose Bangalore over Madras when they had a choice for their jobs and they loathe Madras with their heart.

If they can tame the rickshaw drivers and put them in place,i would be more than happy.

Cosmicbliss

March 18th, 2012, 04:04 PM

Mostly agree, good points.

BTW on first line booze part and its importance to bring investment/talent into a city. I disagree. This may matter only for some industries tourism and fashion . Not for others. Good example is to compare Kochi and Ahmedabad, which is the place a businessman would prefer to invest ?

Chennai and Bangalore are attracting more investment than Ahmedabad as a city. Of that I'm sure. :) :cheers:

Arul Murugan

March 18th, 2012, 04:06 PM

Rentals in chennai is high considering the facility and infrastructure especially in south. A small 1bhk house in Tiruvanmiyur built by TNSCB goes for 9000 rs. Even in far away places like Navalur, padur where there is no availability of retail outlets the rental for 2bhk house is 10k with 3bhk somewhere between 14k to 18k. Many of my friends who relocated from places like pune, bangalore were shocked to find the rental being so high. Salaries in chennai are very much comparable to other southern metros. I have data to prove this. In IT chennai salary is only marginally low when compared to bangalore

this is what I was mentioning in IT corridor thread.

2BHK on new flats on OMR at Padur, Kelambakkam rent is around 15,000 rupees which is equal to Thiruvanmiyur, Velacherry, Saidapet, Mambalam or even Adyar.

Cost of living less in Chennai is yet another myth. I could see steep increase in cost of food at major hotels.. In the name of cost cutting many hotels like hot chips have reduced dosa and chapati size.:lol:

On road transportation i.e MTC bus fare hike is much nearer to Bangalore. Autokarans and taxi charges are always higher in Chennai compared to Bangalore or Mumbai or Delhi. Since 12lakhs commuters use cheap mode of transportation called suburban, relatively it may be looking cheaper in this mode.

Cinema tickets are still cheaper in Chennai compared to other metros..:nuts: other than that I couldn't not really get where Chennai is cheaper cheaper!!

=======================================================

20days before I had parcel tiffun from Saravana bhavan, one rava dosa and one chapati set costed me 158 rupees. Same week I was in Thanjavur.. one plain dosa with 4 types of chutney, sambhar, podi and one set chapathi with kurma costed me simple 45 rupees. Taste was above saravana bhavan!! though i agree it is insane to compare the cost involved in a metro and a tier III town, just want to share here the cost of living in Chennai is increasing rapidly than before.

Cosmicbliss

March 18th, 2012, 04:22 PM

this is what I was mentioning in IT corridor thread.

2BHK on new flats on OMR at Padur, Kelambakkam rent is around 15,000 rupees which is equal to Thiruvanmiyur, Velacherry, Saidapet, Mambalam or even Adyar.

Cost of living less in Chennai is yet another myth. I could see steep increase in cost of food at major hotels.. In the name of cost cutting many hotels like hot chips have reduced dosa and chapati size.:lol:

On road transportation i.e MTC bus fare hike is much nearer to Bangalore. Autokarans and taxi charges are always higher in Chennai compared to Bangalore or Mumbai or Delhi. Since 12lakhs commuters use cheap mode of transportation called suburban, relatively it may be looking cheaper in this mode.

Cinema tickets are still cheaper in Chennai compared to other metros..:nuts: other than that I couldn't not really get where Chennai is cheaper cheaper!!

=======================================================

20days before I had parcel tiffun from Saravana bhavan, one rava dosa and one chapati set costed me 158 rupees. Same week I was in Thanjavur.. one plain dosa with 4 types of chutney, sambhar, podi and one set chapathi with kurma costed me simple 45 rupees. Taste was above saravana bhavan!! though i agree it is insane to compare the cost involved in a metro and a tier III town, just want to share here the cost of living in Chennai is increasing rapidly than before.

Arul, me and all other 199+ students of ACJ batch 2011 are fully in agreement with you. :):cheers::lol: We all came to Chennai thinking it was cheap. Ground reality is as follows.

What are the main expenses that are recurring in nature? Transport and food and rent.

1. Bus fares are less than other major cities
2. Resteraunts are as expensive as Bangalore/Pune
3. Rickshaws are murderously expensive :nuts::ohno:
4. Rents are on par with Bangalore but less than Delhi/Mumbai.

We really got a big shock. I remember how 8 girls used to try to squeeze themselves into an auto to go from Taramani to City Centre Mall to save. :lol::nuts:

southindian2012

March 18th, 2012, 06:41 PM

bronx_bull recently are u visited that friendly Bangalore and Hyderabad:lol:.i dont think so.please dont write without proper justification,i have worked and spent most of the time what you said that friendly bangalore and hyderabad and finally settled in Chennai.have you ever traveled by auto in bangalore.most of the auto drivers are from kRS(Karnataka rakshana vedike) only good thing is meter system in autos,but most of the auto owners and drivers are rowdy sheeters.hyderabad never speak.do you have any proof that hyderabad is much better and cleaner than chennai.I WILL SAY BIG NO.in south india as i have seen some cleanest cities are mysore and few cities in kerela.

lexraja

March 18th, 2012, 07:00 PM

^^

I am guessing Mr Bull lived in Madras in the 80's and has no connection with the Chennai today whatsoever . Even then his statements are outrageous .

:nuts:

kannan infratech

March 18th, 2012, 07:07 PM

Do you Guys also think who Mr.Bronx Bull may be - a regular forumer in a new avtar :lol:

murlee

March 18th, 2012, 07:08 PM

Ranga??

Anyways, that was a troll post..

WTH is hostile reception?? :lol:

average person you see in front of you is generally uncouth/hostile tempered

And this is Racist!!!

karkal

March 18th, 2012, 07:11 PM

Ranga's previous post on this topic doesn't suggest that. But i still believe it should be one of the regular's alter ego.

kannan infratech

March 18th, 2012, 07:19 PM

Chennai has never been cheap - at least from 1980s onwards comparable to other major cities of India.

I have lived in Bangalore in 1990s and except rent, Bangalore was much cheaper than Chennai, esp food, veg etc.

I have lived in Hyderabad in 1990s and all were cheaper.

In Coimbatore, where I lived for just more than a year, all were costlier but the quality matched the cost.

I have been touring Mumbai, Delhi & Kolkotha also. For a tourist & people on official visits, they are also relatively cheaper except hotel room rents.

Higher cost of living is not a crime provided if the quality of living matches the cost (as in Coimbatore)

My friends from Singapore were surprised that Saravana Bhavan Peters Road items were costlier than Singapore Saravana Bhavan.

Are we living true to Vadivelu's dialogue " Ivan evvelavu adichalum Thangaranda. Innum konjam adingada"

lordvijay

March 18th, 2012, 07:21 PM

The fact that Chennai autos fleece ppl is known, but you are given a safe ride most of the time. I had a nightmare of a ride in Bangalore, at koramangala.There are some of the worst auto drivers there. Taking 90 degree turns at top speed isn't very encouraging I'm those rickety, tattered autos that too in the middle of the night. I later learned that, that was not an isolated incident and that happens everywhere, everytime!

jaish

March 18th, 2012, 08:06 PM

All this uncouth people can be easily done with the startegic alliance that India fostering with RP who has developed the home grown process. Just kidding with pain

prabhu007

March 18th, 2012, 08:16 PM

vinodgopal

March 18th, 2012, 08:50 PM

from time to time comparisons with Bangalore happen which is the trademark of this thread!

wlbkng

March 18th, 2012, 09:28 PM

Do you Guys also think who Mr.Bronx Bull may be - a regular forumer in a new avtar :lol:

அவரு எவரு.. நாக்கு தெள்ளிதே.. (இந்த மொழிய வெச்சு எவருன்னு புருஞ்சுதா? அவரா பாஸ் இவரு?)

bonoslack7

March 18th, 2012, 09:58 PM

My friends from Singapore were surprised that Saravana Bhavan Peters Road items were costlier than Singapore Saravana Bhavan.

thats because your friends have never been to singapore and are lying to you.

kannan infratech

March 18th, 2012, 10:23 PM

thats because your friends have never been to singapore and are lying to you.

Masala Dosa in Singapore was Sg$ 3, where as Peters Road charged us Rs. 140 plus taxes.

bonoslack7

March 18th, 2012, 10:40 PM

WHAT??? thats daylight robbery....are you serious?

If a masala dosa costs 140, a simple meals would be priced around 300!!

R2IChennai

March 18th, 2012, 11:39 PM

+1.

I did some research on this and found that the following are the reason:

1. New Built up area addition (i mean aggregate addition of volume of housing) has been much less in Chennai in last 10 years (2002-2012) compared to BLR.
2. Infrastructure in Chennai suburbs - esp water, drainage has been deficient compared to other cities of comparable size
3. Investment in public facilities like Transport has been lacking in Chennai.

Of above points, 1 is now only being addressed, lot of new projects are coming up but it will be 2017-18 before large volume of housing units comes up.

2 is not improving much. 3 is improving a bit with metro/mono but wait till end of decade before things improve.

One merit of Chennai compared to BLR was/used to be our power situation, but now even that is gone.

I agree on 1, due better FSI in bangalore and less restrictions Blore inventory was high so obviously cheaper with plenty of apartment availbilty but land rates should be vice versa right since the FSI is high but even land rates in Blore are cheaper

2) I wont agree, Infrastructure in Bangalore is same as chennai pretty bad interms of traffic and public transportation availablity (not quality quality of Bangalore busses can never be matched)
Only thing that is welcoming is good schools are spread out and good quality enterainment is available everywhere unlike chennai where Tambaram/Porur/Sholinganallur/ etc still lacks good options for enterainment/Schooling etc
Velachery caught up now only.

3) Chennai's advantage hold because of Suburban Train and MRTS (100 km+ network) so still we will come out ahead in that.

For South Indian food
Darshini and MTR are as good or better than Saravana Bhavan but costs much less, I dont know why even Sangeethas/Murugan Idli shop are as expensive as Saravana Bhavan

R2IChennai

March 18th, 2012, 11:45 PM

Also why Clothes are so expensive in Chennai
May be Kancheepuram saree is cheaper than other places but everything else is so cheap in Delhi/Mumbai/Hyderabad !!

jayaraj100

March 19th, 2012, 12:34 AM

I am posting here for the first time even though,i have been reading for a longtime.

Bangalore and Hyderabad are city like current Mysore until 1990. Those cities have really picked pace after IT. It is good. On a record to record comparison it may be a comparable city with Madras/Chennai. But on culture... NO...

Madras is like this past 3 centuries. Seen French Dutch and English the most. Immigrant from AP, KA, KL and TN came here and settled here for past 3-4 centuries. We cant exactly tell ups and downs of their experience. It may be simply a Metro Culture...

But B'lore/HYD is just a decade old in Metro league. Let them go through all challenges (may be for a century), then let them compare with Chennai. I have already seen in BLR auto are very rude now days (they are also seeing many immigrants who can be easily cheated). Demand 150Rs for 4km (ITPL to K.R Puram), in the middle of the road they stop and will say they cannot come more. You need to switch auto. They are all KRV members. So, they are very much in the path to become Chennai auto.

Chennai weather of course... it is sweaty... But wait... after demolishing all garden space in Bangalore (in the name of road expansion, Metro and other malls and office), if they still say B'lore is cool.... then we will accept... Housr road once had gigantic trees, they are no more. No road spares trees. They get commision cutting big trees.

I am not defending Chennai here, but what I am saying is dont compare. Point here is You shouldn't be comparing these cities with Chennai at all...

karkal

March 19th, 2012, 01:39 AM

Jaya reviews department activities ahead of budget (http://www.deccanchronicle.com/channels/cities/chennai/jaya-reviews-department-activities-ahead-budget-522)

The officials informed her about the new initiatives and also the memorandum of understanding (MoU) that could be signed within two weeks of Cabinet approval. These could pump into Tamil Nadu a total investment of Rs. 5,450 crore through about nine projects including Yamaha, Eicher Motors, TVS, Ti Cycles, Phillips Carbon, Sanmina-SCI, etc.

sanjaysan

March 19th, 2012, 01:48 AM

murlee

March 19th, 2012, 04:49 AM

I am not celebrating till concrete steps are taken :colbert:

tamilnaduboy

March 19th, 2012, 05:35 AM

Guys, your inputs would mean a lot to this thread... http://www.skyscrapercity.com/showthread.php?t=1497756

bronx_bull

March 19th, 2012, 07:44 AM

Guys,

Naan vera yaarum illa.Naan original thaan,naan sonnathu ellam aathangathula thaan.

I agree about Bangalore auto drivers and they are the same as the Madras ones.

But i want the issue to be fixed like in Mumbai and Kolkata.

Madras should aim to be like Mumbai/Delhi.If not Shanghai/Singapore.

Cosmicbliss

March 19th, 2012, 08:09 AM

Absolutely.. I've lived in Hyd for more than 3 years... Rent - okay types, all auto fares - cheaper than chn.. but all others were costly.. My bro lives in Mumbai - rent is the only thing costly.. all other stuff are the cheapest when compared to all other metros..

Ivan evvelavu adichalum Thangaranda. Innum konjam adingada

:ROFL: kitta thatta!!

Prabhu, I am curious as to how Mumbai is cheaper in other aspects. What does your brother say? :)

Arul Murugan

March 19th, 2012, 09:02 AM

Do you Guys also think who Mr.Bronx Bull may be - a regular forumer in a new avtar :lol:

intha mathiri alungaluku proxy ban podunga sir........:bash:

Cosmicbliss

March 19th, 2012, 09:21 AM

Arul Sir

Ennodu kelvi off-track. Naan Simbuoda "Nala naan naan" dance video theadren. Can't find it anywhere. It has him dancing all over the place in a funky kind of get up. :lol: Any idea what the name of the song is?

Arul Murugan

March 19th, 2012, 09:39 AM

bronx_bull

March 19th, 2012, 09:46 AM

Ranga??

Anyways, that was a troll post..

WTH is hostile reception?? :lol:

And this is Racist!!!

This is not racist,this is true.I often see too much unionism in Chennai Central.Everyone has an union and this affects the perception bigtime.

I am Subramanian and not Ranga.

bronx_bull

March 19th, 2012, 09:46 AM

intha mathiri alungaluku proxy ban podunga sir........:bash:

proxy ellam onnum illa boss.naan original thaan.

ImsaiArasan

March 19th, 2012, 10:06 AM

This is not racist,this is true.I often see too much unionism in Chennai Central.Everyone has an union and this affects the perception bigtime.

I am Subramanian and not Ranga.

What ? Auto Union at Central !!! Do you know how Auto union behaves?

In Calcatta, you will have to go in first auto in the queue. No negotiation possible. That is what Union will do. In Chennai Central entrance, you can negotiate with Auto driver. If he does not budge, you can freely go to another driver and negotiate again. You get multiple option here. Now a days you have fastrack counters which gives you metered Taxis. There is no Union here. PLease try to understand how union behaves. In kerala , you can't carry you own baggages. Union will come and demand money for that too. Chennai Auto drivers are more capitalistic that way. For a long time Meru taxi's were not allowed in Bangalore city station. Only one year back they started going to station.

Cosmicbliss

March 19th, 2012, 11:44 AM

you mean "where is the party" song of simbu?

Its not a typical film song. It shows him dancing in a kind of garage, going the up stairs at one point. "Naala naan naan" "Nala naan naan" seem to repeat themselves all the time. Maybe I'm not getting the Tamizh words in English right. :lol:

murlee

March 19th, 2012, 12:15 PM

U mean this one?

dWlMecXTcjA&feature=related

saysenthil

March 19th, 2012, 12:49 PM

Proposal to set up second consul office in Chennai

outh Africa today proposed to set up its second consul office in Chennai, encashing the opportunities available in the automobile and energy sectors, according to an envoy. "Chennai has always been in South Africa's radar. We identified Mumbai as an economical hub and now the next province for South Africa (is) to enter was Tamil Nadu. We are looking to open a Honorary Consul Office here in Chennai. But not now, the (prevailing) conditions are not allowing us..", South Africa High Commissioner to India, Harris Majeke told reporters here. The High Commissioner along with Deputy Trade and Industries Minister, Elizabeth Thabethe leading a 45 member delegation, from South Africa are on a five day tour to India with an objective of promoting South Africa as a trade and investment destination for India. Asked about the timeline for setting up the Honorary Consul Office in Chennai, the Commissioner replied saying it was in their proposal to set up an office in Chennai but the decision would be taken when the market "conditions are conducive". South Africa currently has a consul office in Mumbai and an Embassy in New Delhi. He attributed the presence of many autocompanies in and around Chennai, chemical and allied industries, for planning to set up their second Consul office. On the Preferrential Trade Agreement between South Africa and India, the Minister said negotiations were on. "Currently, we are working on it. The negotiations between SACO(South African Customs Union) and India are on. We do not want to mess our good relations with India (by just signing the agreement in a day)..", she said. On boosting the trade volumes, she said her country had set a target of reaching USD 15billion by 2014. "Our target is to reach USD 15 billion by 2014. We hope we can live up to the trade agreements (between India and South Africa)", she said. In 2011, the trade was USD 12 billion and some of the sectors that contributed for this trade was -- mining, transport equipment, pharmaceuticals, textiles, gems, agro-processing, telecommunication.

http://ibnlive.in.com/generalnewsfeed/news/proposal-to-set-up-second-consul-office-in-chennai/977010.html

^^

Next in line like that of the Chinese counterparts....

kannan infratech

March 19th, 2012, 01:54 PM

WHAT??? thats daylight robbery....are you serious?

If a masala dosa costs 140, a simple meals would be priced around 300!!

We pay Rs. 27 for a cup of coffee in RK Salai Saravnan Bhavan. The problem is that most of our customers are so fond of that and visit our office often since we get Saravana Bhavan coffee :lol:

One ordinary parcel meal costs Rs. 175/- and Special parcel meals Rs. 350/-.

The costliest Stand Alone Veg Restaurant in Chennai.

Peters Road is the costliest as they serve in / with Silver cutlery

vs007

March 19th, 2012, 02:16 PM

Blame the Chennai auto drivers or point out the lack of drainage in the city and the resulting stink and filth, why the sudden stream of defenders starts attacking the messenger?

ranga

March 19th, 2012, 02:41 PM

What ? Auto Union at Central !!! Do you know how Auto union behaves?

In Calcatta, you will have to go in first auto in the queue. No negotiation possible. That is what Union will do. In Chennai Central entrance, you can negotiate with Auto driver. If he does not budge, you can freely go to another driver and negotiate again. You get multiple option here. Now a days you have fastrack counters which gives you metered Taxis. There is no Union here. PLease try to understand how union behaves. In kerala , you can't carry you own baggages. Union will come and demand money for that too. Chennai Auto drivers are more capitalistic that way. For a long time Meru taxi's were not allowed in Bangalore city station. Only one year back they started going to station.

Even now meru taxis are not allowed in Bangalore city station.We have to get down on the road outside the station quickly before the traffic police spots the vehicle to challan

Arul Murugan

March 19th, 2012, 03:00 PM

Proposal to set up second consul office in Chennai

South Africa today proposed to set up its second consul office in Chennai,

Next in line like that of the Chinese counterparts....

Hope in near future these consuls gets materialized and it will also bring direct flight service to Johanesburg and Shanghai or Guangzhou in future because of increasing trade relation!!

Do we have consul office for Indonesia?? For long time Garuda Airlines wants to start service to Medan from Chennai.

b/w I agree consul office and air link are not related, but consul office will be added advantage to bring air link these countries from Chennai.

karkal

March 19th, 2012, 03:13 PM

People drink tea/coffee for several hundred rupees in certain coffee shops. IMO that is outrageous than the branded SB Coffee for Rs 27 which is a class in itself.

kannan infratech

March 19th, 2012, 03:22 PM

People drink tea/coffee for several hundred rupees in certain coffee shops. IMO that is outrageous than the branded SB Coffee for Rs 27 which is a class in itself.

It is not only for coffee. Kadalai poda charges, meeting charges, AC charges all inclusive. Most of us spend a few hours to drink one or two cups of coffee. Adhula Heart padam vera pottu koduppainga :lol:

SB la Coffe kudichu mudikkaradhukkulle pinnale othar vandhu viduvar. I have seen almost Musical Chair like tamasha in T Nagar SB.

murlee

March 19th, 2012, 03:29 PM

Yes.. We do have honorary consulate of Indonesia in Nungambakkam

karkal

March 19th, 2012, 03:35 PM

ImsaiArasan

March 19th, 2012, 04:09 PM

Even now meru taxis are not allowed in Bangalore city station.We have to get down on the road outside the station quickly before the traffic police spots the vehicle to challan

In that case Central is lesser unionised than Bangalore. In central you got counter for fasttrack taxi service and they pick up at central itself. Same with drop too. Bangalore Auto unions don't allow meru inside railway stations.

kannan infratech

March 19th, 2012, 04:12 PM

karkal

March 19th, 2012, 04:14 PM

+1 Agree. Lot of great local players.

This is the land of coffee, its sad that none of our local companies are making a larger local and international play in this lifestyle coffee business.

ImsaiArasan

March 19th, 2012, 04:24 PM

It is not only for coffee. Kadalai poda charges, meeting charges, AC charges all inclusive. Most of us spend a few hours to drink one or two cups of coffee. Adhula Heart padam vera pottu koduppainga :lol:

SB la Coffe kudichu mudikkaradhukkulle pinnale othar vandhu viduvar. I have seen almost Musical Chair like tamasha in T Nagar SB.

Peters Road SB is not like others. It is branded as Saravana's Swathi restaurent. It is a high end restaurent. Even bearer's dressing also richer apart from silver cutleries.
In the same building, ground floor they have a Darshini version of SB. There you'll get normal priced food , but you have to stand and eat like Blr Darshinis.

Arul Murugan

March 19th, 2012, 06:56 PM

I have seen people standing in queue at Bangalore MTR, Lalbagh Fort Main Road near Oorvasi Theatre.

The servers would treat the clients like dirt but still they would stand in queue patiently to drink coffee every day morning & evening.

actually to make people adict to these coffee shop i.e especially filter coffee.. filter la kezha light a drug thadavuvanganu kelvi pataen. :nuts:

krishnaswamy

March 19th, 2012, 07:09 PM

True. You get to play free musical chair in T.Nagar SB.

Any plans for SB to start independent Coffee Shops to take on likes of Star Bucks.

I have a feeling the local SB will clean up the international SB.
what an idea sir ji! you are 100% right.
In thanjavur, shanthi lassi shop started offering "kalkandu pal"(panangh kalkandu) after 8 pm. so from morning to evening, they will sell lassi and evening "Pal". this has became huge hit. so in all main streets, lot of small "kalkandu" pal shop has come.

actually to make people adict to these coffee shop i.e especially filter coffee.. filter la kezha light a drug thadavuvanganu kelvi pataen. :nuts:
Arul: :lol: i dont think so...
I lived in Bangalore for 4 years. the quality of coffee near small petty shop in JayaNagar, Airport road and MTR will be same. but rest in all other places it differs.
I have been to MTR for lunch many times. we need to sit patiently. i did not see any poor behavior of those waiters..

krishnaswamy

March 19th, 2012, 07:11 PM

SB la Coffe kudichu mudikkaradhukkulle pinnale othar vandhu viduvar. I have seen almost Musical Chair like tamasha in T Nagar SB.
Ashok Pillar SB try pannunga sir..only problem is parking..

krishnaswamy

March 19th, 2012, 07:18 PM

None of the Governments or Police officials has guts to regularize auto services, auto unions in all the cities. because either they themselves have 100 autos...police officials have autos in their benamy..
In chennai, instead of auto, its better to take fasttrack..

Arul Murugan

March 19th, 2012, 07:26 PM

Arul: :lol: i dont think so...
I lived in Bangalore for 4 years. the quality of coffee near small petty shop in JayaNagar, Airport road and MTR will be same. but rest in all other places it differs.
I have been to MTR for lunch many times. we need to sit patiently. i did not see any poor behavior of those waiters..

I am not telling MTR in particular. :)

karkal

March 19th, 2012, 07:32 PM

actually to make people adict to these coffee shop i.e especially filter coffee.. filter la kezha light a drug thadavuvanganu kelvi pataen. :nuts:

coffee ye oru addiction, inum special drug veraya:lol:

vinodgopal

March 19th, 2012, 08:35 PM

folks i went to retteri today and stood by the reservoir.... very beautiful breeze almost like sea breeze. i wonder why it is not a tourist spot.

kannan infratech

March 19th, 2012, 08:42 PM

cM Sir,

Retteri nnale, kalla charayam, multiple murders idhellam dhan gnayabagam varudhu.

Neeng yen angellam poreenga ?

karkal

March 19th, 2012, 08:58 PM

Space Matrix is also doing architecture, master planning and infrastructure design for the Central University of Tamil Nadu. “It is a 517 acre campus and we won the bid which should fetch us about Rs 4-5 crore per project,” Srivastava said. “India contributes 50-60 per cent of the revenues and in last financial year, we clocked a turnover of Rs 360 crore,” Srivastava said. He said the firm was targeting 25-30 per cent growth in the next four years

SRC : http://www.mydigitalfc.com/companies/space-matrix-looks-expand-india-footprint-459

Do we know which university is this ?

kannan infratech

March 19th, 2012, 09:05 PM

Thiruvarur was sanctioned a central varsity during DMK regime.

karkal

March 19th, 2012, 09:14 PM

oh it is a TN university, not any of the IIT, IIM, AIIMS, REC types. Central confused me.:nuts:

krishnaswamy

March 19th, 2012, 09:19 PM

coffee ye oru addiction, inum special drug veraya:lol:
"alavukku" meerinal amirthamum nanju..
"அளவுக்கு மீறினால் அமிர்தமும் நஞ்சு."
there are lot of people who takes 4 to 6 times a day and they are healthy.
it depends on proportion(quantity) and other physical exercises.
also,in India, we used to have lot of milk in the coffee. so coffine will be small only.

karkal

March 19th, 2012, 11:04 PM

Pallikaranai Marshland Ownership pattern

SRC:http://www.thehindu.com/multimedia/archive/00956/Pallikaranai_marshl_956801a.pdf

karkal

March 19th, 2012, 11:19 PM

Corporation reluctant to give marshland for restoration (http://www.thehindu.com/news/cities/chennai/article3013745.ece)

Forest Department had plans for integration management of Pallikaranai

The Forest Department's ambitious project for integrated management of Pallikaranai marshland and efforts towards declaring it a Ramsar Site hangs in balance as the Chennai Corporation is planning to start remediation of the required land where garbage is being dumped. The Forest Department made the preliminary move last year to get the Pallikaranai marshland declared as a Ramsar site by submitting a compliance report to the Ramsar Convention on Wetlands.

See above post for details

The declaration of the marshaland area as a Ramsar site would be a recognition of the unique eco-system that is present in the area and the need for conserving it. However, the Chennai Corporation, in a recent meeting, expressed its inability to accept the request of the Forest Department, as over 200 acres of the 550 acre piece of marshland on the northern side of the Inner Ring Road is being used for dumping of waste.

The Corporation had already agreed to part with another 445 acre of the marshland on the southern side of the Inner Ring Road for restoration work. The Forest Department, which plans to undertake restoration of the eco-sensitive Pallikaranai marshland, will soon get the 445 acres.

A detailed master plan for restoration of the entire Pallikarani marshland has been readied and the area is likely to become the biggest eco-park with a range of facilities including a boardwalk. The area to be handed over is not being used by the civic body for dumping garbage currently. Besides facilitating proper demarcation and hydro-ecological assessment, land transfer of the entire marshland will also establish the Forest Department as the sole agency for better restoration and preservation of the area and declaration as Ramsar Site.

Activists and local residents continue to demand that the Chennai Corporation hand over the marsh to the Forest Department, but the civic body is planning to carry out remediation of 200 acres of the marshland to for its solid waste management project in Perungudi. While the remediation project might help restore the marshland, the amount of time necessary for the process could be quite considerable.

The landowning agencies of the marshland include the Chennai Corporation, Forest Department, Public Works Department and the Revenue Department.

The marshland has shrunk over the last few decades following the creation of residential areas including Perungudi, Taramani, Velachery, Siruseri, Okkkiam Thoraipakkam, Pallikaranai, Madipakkam, and Karapakkam.

sshivakumar

March 20th, 2012, 07:05 AM

Coincidence?? :cheers:

Kannan sir, please move this post to Chennai discussions - if you feel it doesn't belong here :)

A. Hari unwaveringly pours in a scalding, frothy brew into a sprightly yellow cup that reads ‘Assam special tea' on one side, but the aroma that emanates from it is an unmistakable giveaway. Hari causally remarks that he and his colleague at Hot Chips in Adyar make around 500 cups of piping hot filter coffee every day. “I have been making coffee here for five years, and it is the one item that has takers all day,” he says.

Irrespective of what time you drop into a south Indian home, they will most probably make you an offer you cannot refuse — a tumbler full of filter coffee which they've “just made”. In a city in whose veins coffee probably runs, everyone is a coffee connoisseur and J. Vengkataramani and his family take their daily cups of coffee very seriously. “To get the best decoction, the coffee powder should be gently packed in the top chamber of the coffee filter, and water should be sprinkled, not poured, in circular motions. This ensures that the filtration takes place uniformly. Irrespective of who makes the coffee at home, we always follow this process,” he said.

Dig into the utensils from your grandmothers' times, and you might stumble upon a relic from another era — a worn-out brass filter. “There is a reason brass filters and tumblers came to be used. Brass is a good conductor of heat and also lends a unique flavour to the coffee. So, the hotter the coffee, the better the flavour,” Vengkataramani adds.

S. Chakaravarthy, owner, Geetha Coffee, Mylapore says that the key to good coffee lies in identifying the right variety and blend of coffee beans. “We have been making coffee powder for the last 30 years and people like actor Nagesh have been our customers. Of all the southern states, the culture of drinking filter coffee is perhaps the strongest here. There are people who buy coffee powder from us and send it abroad. Once you get used to waking up to good filter coffee, it is difficult to switch to anything else,” he says, about what is probably the most sought-after accompaniment to the morning newspaper.

“I am 69 years old and I must have started drinking coffee at the age of five,” says A.K. Ganapathy, a regular customer at the Geetha Coffee. And like most regular coffee drinkers, he has “at least three cups” everyday. R. Subramanyam, a coffee enthusiast, says that there are towns in Tamil Nadu where people use hand grinders because they don't want to store and lose the flavour of the beans. “They grind fresh beans every time they want to make coffee,” he said.

When asked how Hari resists the temptation to guzzle down a few cups while he drowns in its aroma and prepares hundreds of cups of coffee each day, he confesses, “I only drink milk.”

http://www.thehindu.com/news/cities/chennai/article3015317.ece

prabhu007

March 20th, 2012, 09:38 AM

Prabhu, I am curious as to how Mumbai is cheaper in other aspects. What does your brother say? :)

Hey pays 22k for a 450 sq ft single bed room flat. For a small family of three it takes not more than 10k p.m for all other expenses, including auto fares for my anni to drop the kid to school and bring him back home) The kid goes to Eurokids, fees are almost similar across all cities(in my opinion the fee is plain robbery). Auto fares are total VFM and straight forward.. Taxis are on par or less that chn.. Vegetables, fruits, groceries, clothes, toys, spends in the mall etc are cheap. He lives in Chembur, right opposite to the K-Star mall, which is only as costly as our malls.. Yeah, the only other thing costly is the ticket prices in multiplexes.. it's 150 or even 200 (in chn max is 120)...

vinodgopal

March 20th, 2012, 09:58 AM

cM Sir,

Retteri nnale, kalla charayam, multiple murders idhellam dhan gnayabagam varudhu.

Neeng yen angellam poreenga ?

i went there to see a friend and he took me there and showed me the place and believe me, this is the first time i am seeing that lake in full view near the reservoir in all the years of my life. huge one. 3 decades of my life passed without seeing this beauty of a place. Breath of fresh air.

kannan infratech

March 20th, 2012, 11:00 AM

MOSCOW, Mar 19, 2012 (IPS) - India’s proposal to set up a bank of the BRICS nations (Brazil, Russia, India, China and South Africa) will top the agenda at the summit of the group in New Delhi Mar. 28.

India believes a joint bank would be in line with the growing economic power of the five-nation group. The bank could firm up the position of BRICS as a powerful player in global decision-making.

"The BRICS bank does not need much capital for a start," Alexander Appokin, senior expert at the Moscow- based Centre for Macroeconomic Analysis and Forecasting tells IPS. "What is more important is that the BRICS development bank presents a unique opportunity for indirect investment of central bank foreign reserves inside the countries."

A BRICS bank could for example issue convertible debt, which would arguably be top-rated and can be bought by central banks of all BRICS countries. BRICS countries would thus have a vessel for investment risk-sharing.

"China will be the biggest beneficiary of that," says Appokin. "Moreover, infrastructure investment mostly needs not just long-term financing but external monitoring for more transparency and efficiency increases. Here, a BRICS development bank could offer some advice for successful implementation of regional projects."

But, he cautions, "development structures like a BRICS bank are effective only in case they are given independence in project financing decisions from the governments, or at least room to operate in long- term development framework."

Yuhua Xiao, assistant professor at the Institute for African Studies in the Zhejiang Normal University (ZNU) in China says the idea of setting up a development bank for financing projects in these countries is a sign of the growing self-assertiveness and of independence or interdependence of emerging economies.

"As the emerging powers' approaches to development may differ from established norms, such an institutional set-up will test the possibility of cooperation in a different framework which might generate new ideas," Yuhua tells IPS in an emailed comment.

India's proposal for a BRICS bank was long overdue, says John Mashaka, financial analyst at Wells Fargo Capital Markets. "It is a way the emerging nations are trying to pull out of the western dominated World Bank and the IMF," he tells IPS.

"Basically India, China and perhaps Russia are trying to show off their economic clout; they are trying to demonstrate to the west that they can do without them. Above all they need freedom from western financial influence."

Mashaka says the joint bank besides being a financial institution for BRICS member countries can also support infrastructural projects in developing countries in Africa, Asia and Latin America. But it has a long way to go, he says.

"The effectiveness of the bank is yet to be seen; this plan is not going to be cakewalk. China has already said it wants permanent presidency. Russia and India may demand the same. We know that Africa is a lucrative market for China in terms of natural resources and as a market for industrial products.

"Africa being such a strategic region, China may want the bank to finance many of its projects in the African region, or simply cooperate with the African Development Bank."

Mashaka says there are also unanswered questions about capital structure, such as which BRICS member state will foot the bigger bill needed to establish the bank, and the role of various countries.

Albert Khamatshin from the Centre for Southern African Studies at the Russian Academy of Sciences believes South Africa will benefit most because the primary focus of the bank will be development projects within BRICS.

Dr. Alexandra A. Arkhangelskaya, head of the Centre for Information and International Relations at the Institute for African Studies at the Russian Academy of Sciences says a bank like this could shift the weight of economic power even though the creation of such an institution would be difficult.

"It is a good in terms of a multilateral framework of cooperation," Arkhangelskaya tells IPS. "But the BRICS states have differing economic weight, and to find the right balance to avoid one or some members dominating can pose a challenge. The threat of marginalisation of members in comparison to China is evident.

"BRICS is unity in diversity, and to take new steps towards mutual cooperation can be challenging. Therefore, it is interesting to see the development of this idea and to clearly understand the mechanism of its implementation."

She further believes the bank could greatly benefit countries outside BRICS if it supports least developed countries in ways similar to the IBSA (India, Brazil, South Africa) Development Fund, which has a number of successful projects.

Prof. Adams B. Bodomo from the School of Humanities at the University of Hong Kong, who has researched BRICS extensively, tells IPS that Brazil proposed that developing countries would be willing to contribute money to solve the Eurozone problems in return for more power in the International Monetary Fund (IMF). But he warned that the "International" Monetary Fund is not really for developing countries. He called it a Western Monetary Fund. (END)

kannan infratech

March 20th, 2012, 11:20 AM

@ Arul

Naan ella SB Coffee Master kittayum indha kelvi kettutten. " Neenga edhavadhu Abin madhiri ethavathu kalappengala?"

I am also addicted to that. :lol:

@ Krishnaswamy:

SB pathi engitta sollatheenga Sir.

Daily SB ladhan lunch or tiffin and sure a 2 to 3 coffees.(for the past 20 years)

Ennoda office 1995 to 2005 vara Kasi Theatre SB opp and Asho Nagar SB back side irundhathu.

Ippo RK Salai SB oppsite la.

Even Bangalore office is opp MTR.

Ennoda friends lam innamum keli pannaranga - SB pakkathuladhan Office kku idam pappen nu.

vs007

March 20th, 2012, 02:06 PM

kannan infratech

March 20th, 2012, 02:37 PM

India is naively falling into the company of human right oppressors and in the orbits of its mortal enemy.

If India is sincere enough to come out of the clutches of the US & the other pseudo strong economies, I will be very happy.

World Furture lies with BRICS. India should manage to get an equal & respected position within BRICS. China may be our main detractor.

US can not still master the world with their over killing buying spree without paying much in return. If US economy collapses, many of us may suffer in short term, but good for the future.

I also wish Japan coming along with this group, but they will find it extremely difficult esp with Russia & China.

Reg Human Right violation, US actions in Afganisthan, Iraq, Viet Nam were much worse. Nobody is pure. Even India may be blamed for anti Naxal activities.

TShyam

March 20th, 2012, 03:15 PM

India is naively falling into the company of human right oppressors and in the orbits of its mortal enemy.

Okay, lets get real. Brazil and South Africa are full fledged democracies and Russia is atleast a quasi democracy. So roughly 3.5 of the 5 are not "human right oppressors" or "mortal enemies".

So this line of thinking does not cut ice with economic realities. Further, if we can get oil from S.Arabia, manufactured goods from China, why not establish lines of credit with them? Why do you want to be a slave of dollar forever?

Next, America and west are too fond of preaching and imposing their view of economics and politics. Frankly speaking how other governments runs their affairs is none of our business. If you want something that another country has, then trade with them. You get what you want, give them what they want and mind your own business.

IMF and WB have had a free ride for too long and have promoted economic cannibalism in the name of free markets and is literally the reason for thousands if not millions of deaths. Its about time we have true independence in our decision making. The world no longer runs overwhelmingly on west's terms.

This BRICS bank is a fantastic idea and will evolve into a true competitor for WB and IMF which are neither international nor has anything to do with the world. Even after so much economic progress, China has a 6% voting rights and India less than 2% in IMF (they gave a few 100ths of a percentage point increase recently to both countries and gloated that IMF has been reformed!!). Can you believe that?

If this new bank gets established and if they can comeup with something similar to SDR's of IMF, then it even has the potential to displace dollar as the global reserve currency. Although these countries have a huge and burgeoning trade happening between each other, they are still overwhelmingly routed financially though the City of London or New York. A lot of bankers just make their profits cutting a very small sliver from the top of those trades which has concentrated financial wealth in those cities. An alternate system based on direct trade will be not only be beneficial for trading firms which actually makes the nuts and bolts but also retain the financial wealth in the respective countries. Mumbai, Delhi and even Chennai as hotspots of trading transactions has the potential to leapfrog in the league of cities ranking displacing many Eurpoean and American cities.

So let us cut the crap about human rights, democracy etc and get real. No government can claim to be the human rights bulwark let alone US. I want to live in a democracy but I dont give a rat's a** whether China or S.Arabia is a democracy or not. And if someone is a mortal enemy, the best way forward is to economically get intertwined with them. That will give the public on both the sides a lot of people to people interaction which will reduce trigger happy rhetoric from both the governments. If Europe can reconcile and create a common currency after fighting each other for millenia including 2 world wars which killed crores and crores of people, then the differences between India and Pak or India and China is nothing close to even be labelled as "mortal enemies".

It is in the best interest of west if we keep fighting each other and fall for these useless rhetoric like "democracy" and "human rights" but it is in each of our self interest if we economically integrate together.

I am sure US will try hard to stop formation of such a financial system but it is now too late if BRICS have the political will to push through.

jaish

March 20th, 2012, 05:13 PM

Dangerous thoughts which could take us back to barbaric period. Puting profits before humanity sounds to me toxic. West bad practices can't be replaced other groups bad practices.

karkal

March 20th, 2012, 05:31 PM

Godrej plans home appliances unit in South India (http://www.thehindubusinessline.com/companies/article3016786.ece)

Any chance of Chennai getting this ?

TShyam

March 20th, 2012, 08:19 PM

Dangerous thoughts which could take us back to barbaric period. Puting profits before humanity sounds to me toxic. West bad practices can't be replaced other groups bad practices.

How exactly will opening a BRICS bank take us back to "barbarian age"?
How will it "put profits before humanity"?
And what exactly is the "bad practice" you are referring to?

Your post is nothing more than a random rant and doesnt address anything specifically. It is so random that I am not even sure whether your post was a reply to mine.

In the meanwhile throw out your cell phone, laptop and other Chinese made products (pretty much everything). Dont use your bike or car as it uses fuel from S.Arabia and other monarchies.

If you are not prepared to do that, then there is no use preaching that we should not open credit lines with them.

karkal

March 20th, 2012, 09:08 PM

An executive from the real estate sector says P&G is scouting for land in Hyderabad and Chennai to set up two factories, but the company did not confirm it. P&G officials say the plan is to make more products locally, and move away from direct imports - currently brands like Pampers and Olay are imported from P&G bases in the region like south-east Asia. Local production will help P&G derive cost advantages, which will help it compete better with Unilever's India subsidiary, Hindustan Unilever.

SRC : http://economictimes.indiatimes.com/news/news-by-industry/cons-products/fmcg/procter-gamble-directs-cost-savings-from-sluggish-developed-economies-into-markets-like-india/articleshow/12347126.cms

vs007

March 20th, 2012, 09:34 PM

Reg Human Right violation, US actions in Afganisthan, Iraq, Viet Nam were much worse. Nobody is pure. Even India may be blamed for anti Naxal activities.
We all know about about many of the atrocities done by US in Vietnam Iraq,Afghanistan including the latest murder of 16 people. Why is that?
Because its a democratic nation and a freer press which has criticized its actions. From 49% internal opposition to Iraqi war it grew to 70% to eventual loss of face for Bush. On the same token,
What do we know about russian atrocities in Afghanistan?
What do we know about russian atrocities in Chechnya?
What do we know about russian atrocities in Baltic states?
What do we know about Chinese atrocities in Tibet?

If India is sincere enough to come out of the clutches of the US & the other pseudo strong economies, I will be very happy.
What do you mean sincere enough? Are you implying its not trying or not want to accept the ground reality. Secondly what do you mean by clutches? And if you refer to IMF and WB, then who forces the Govt to embrace them? The world has North Korea and you can keep your populace impoverished and enslaved.

World Furture lies with BRICS. India should manage to get an equal & respected position within BRICS. China may be our main detractor.
Let it manage Lanka first, and then worry about manage to get a respect position with China around. Even Brazil and many African and latin nations have wisened up about China.

US can not still master the world with their over killing buying spree without paying much in return. If US economy collapses, many of us may suffer in short term, but good for the future.

It negates the fact that the boom in the last two decades is primarily due to US and the entire China miracle happened not because chinese workers are so hard working, they have always been so, but its due to FTA with US and US naively let it become a competitor by the Milton Friedman followers of free trading republicans(read Reagan not Nixon).

I also wish Japan coming along with this group, but they will find it extremely difficult esp with Russia & China.

Wishful thinking. Japan knows and understands history and are much smarter people. With the recent aggressiveness of China in the China sea vis-a-vis drilling,Taiwan and fishing even the ASEAN nations like Vietnam are rushing to the arms of US let alone Japan.
When they see a mortal enemy they are smart enough to run away, and not towards it embracing it like many of our south block and pseudo intellectuals aka commies think.

Reg Human Right violation, US actions in Afganisthan, Iraq, Viet Nam were much worse. Nobody is pure. Even India may be blamed for anti Naxal activities.
And why should India be left alone for any human rights violations? Do the victims lives dont matter?

karkal

March 20th, 2012, 10:14 PM

Virtual event on ATLAS conducted in Chennai (http://cdsweb.cern.ch/record/1433365)

Mapping the Secrets of the Universe

ATLAS is a particle physics experiment at the Large Hadron Collider at CERN. The ATLAS detector is searching for new discoveries in the head-on collisions of protons of extraordinarily high energy. ATLAS will learn about the basic forces that have shaped our Universe since the beginning of time and that will determine its fate. Among the possible unknowns are the origin of mass, extra dimensions of space, unification of fundamental forces, and evidence for dark matter candidates in the Universe.

lexraja

March 20th, 2012, 11:09 PM

^^
Good one . I think they are also toying with other things like Mini Black holes and Worm holes.

:)

TShyam

March 21st, 2012, 01:51 AM

We all know about about many of the atrocities done by US in Vietnam Iraq,Afghanistan including the latest murder of 16 people. Why is that?
Because its a democratic nation and a freer press which has criticized its actions. From 49% internal opposition to Iraqi war it grew to 70% to eventual loss of face for Bush. On the same token,
What do we know about russian atrocities in Afghanistan?
What do we know about russian atrocities in Chechnya?
What do we know about russian atrocities in Baltic states?
What do we know about Chinese atrocities in Tibet?

What do you mean sincere enough? Are you implying its not trying or not want to accept the ground reality. Secondly what do you mean by clutches? And if you refer to IMF and WB, then who forces the Govt to embrace them? The world has North Korea and you can keep your populace impoverished and enslaved.

Let it manage Lanka first, and then worry about manage to get a respect position with China around. Even Brazil and many African and latin nations have wisened up about China.

It negates the fact that the boom in the last two decades is primarily due to US and the entire China miracle happened not because chinese workers are so hard working, they have always been so, but its due to FTA with US and US naively let it become a competitor by the Milton Friedman followers of free trading republicans(read Reagan not Nixon).

Wishful thinking. Japan knows and understands history and are much smarter people. With the recent aggressiveness of China in the China sea vis-a-vis drilling,Taiwan and fishing even the ASEAN nations like Vietnam are rushing to the arms of US let alone Japan.
When they see a mortal enemy they are smart enough to run away, and not towards it embracing it like many of our south block and pseudo intellectuals aka commies think.

And why should India be left alone for any human rights violations? Do the victims lives dont matter?

bla.. bla.. bla.. these doesnt really address the central issue of why there shouldn't be credit lines in individual currencies when infact we trade with all these "barbaric governments".

We buy ipad's and camera's from China and sell raw materials - no problem;
We buy oil from S.Arabia and sell them engineering goods and labour - no problem;
We buy natural gas and defense equipment from Russia and sell them chemicals, gems and jewellery - no problem.
But somehow if we try to establish local lines of credit by using each other's currency and bypass the dollar, then suddenly human rights, democracy and assorted complaints arise.
Sorry, but thats more hypocrisy than I’m willing to swallow.

It is understandable if Americans think this way. Many of them are anyway so dumbed down by the media nowadays that most dont have the capacity to think beyond binary; USA - good, rest - bad and USA number 1 kind of rhetoric. But how some Indians get this crazy idea is beyond me! How did they get brainwashed into that shit?

Why should we pay for any transaction through dollars and dollars alone?

US citizens enjoyed 4 decades of unprecedented wealth simply because their money was the world reserve currency (which ironically started on our 25th independence day - google it to learn more). Reserve currency status generated extraordinary demand for the dollar worldwide.

The common understanding is that US buys goods with dollars when infact the reality is that the rest of the world buys dollar with their goods and services. The holders of excess dollars have no other option but to invest back in US treasuries and other bonds. This gave unprecedented advantages for the US government and its citizens on two counts.

1. They got money at very low interest rates; there were always more buyers of dollar denominated debt than there was demand

2. They could run the private and public debt to levels no country could have managed if they weren't the issuers of the global reserve currency.

They achieved this by controlling the trade of oil and ensuring that it is dollar denominated.

Guess what?! That era is ending.. Slowly but surely. These things are just the symptoms. Even 10 years back, India wouldn't have dared to pay Iran in rupees but now it is happening and US can do nothing about it. China and Japan have their own local credit lines. Same with China and Russia. This BRICS bank is just the next logical step in the process. Even if it doesnt happen explicitly, it would happen in some other similar forms. That is the natural progression. There is nothing any amount of sanctimonious human rights speeches can do about it.

Just to clarify, I am not predicting any demise of US dollar but just its gradual decline of pre eminence and its loss of control over the world. In a few decades, US will be just another influential country like Russia or China but not the superpower it is today. There is no effing way they are going to pay off their collective debt at the dollar's current purchasing power and they will or would be forced to.. devalue it so that they can pay off their debt without defaulting.

Finally, if some of you guys dont understand or cant follow what I am trying to convey, that is perfectly fine. That is how it is intended to be and that is how some guys make a lot more money than others. So dont sweat about it.

sridhar_n

March 21st, 2012, 05:24 AM

^^BRICS bank is a right way forward. The world has subsidied US for far too long. Human Rights, hegemony, IP rights, unfair trade etc are some of the ills of today's world. We will have to live with it and am sure one day, all the above will be overshadowed by the hunger to grow and prosper. Why should the world tow USs' line always? Can we not be independent of what US thinks and wants? Am not being anti US here, but we need to rise up above all and be independent - as a nation or as a group of nations. EURO has turned out to be a diaster. Lets try the BRICS model.

Mad 4 Madras

March 21st, 2012, 08:56 AM

Shyam, elegant write up :applause:

kannan infratech

March 21st, 2012, 09:16 AM

TShyam

March 21st, 2012, 02:20 PM

satchitananda

March 21st, 2012, 02:48 PM

Definitely nice writeup Tshyam.

There is no anti US question here.

The dollar hegemony is one of the leverages US has. The Euro experiment has some strucutural problems and is seriously limited. Having a currency alone doesnt impact as we have observed now that individual countries' policies can bring Euro down.

If US doesnt export military equipments, their EXIM imbalance will be much more. They have compounded their own problems by following a very lousy policy, atleast since Nixon times, when they decoupled $ and its real value backup.

In their own interests, they will have either a war or an opportunity to fund a war every decade to keep their military estabilshments moving. Of course they will give labels like liberating the world and what not. They lost credibility in Iraq (WMD). Now they are targetting Iran. Now if they were so perturbed by other people's suffering, why have they not intervened in Burma, Zimbabwe, Sudan etc. Because there is no war (selling) incentive.

Unless the rest of the world like BRICS combine and provide a strong alternative like banks, we wont be able to pull the economic development focus here. IMF and World Bank are US and Euro dominated. BRICS bank in that context will give a good leverage.

rapuramuser

March 21st, 2012, 06:01 PM

rapuramuser

March 21st, 2012, 06:07 PM

The above article specifically counters the very two benefits that TShyam has very neatly laid out.

karkal

March 21st, 2012, 06:29 PM

http://i.dailymail.co.uk/i/pix/2012/03/16/article-0-123410D1000005DC-80_468x773.jpg

Increase in GDP equals higher property values

House prices have typically risen fastest in countries with the fasted growing economies.

The substantial rise in Indian house prices over the past decade is partly a reflection of the 280 per cent rise in Indian Gross Domestic Product (GDP) over the same period.

Unsurprisingly, GDP has increased significantly in the countries that top the list - on average, the top ten countries with the biggest rises in house prices since 2001 have seen GDP increase by 155 per cent.

This is almost four times the average 43 per cent rise in GDP in the ten countries with the worst house price performance.

Read more: http://www.thisismoney.co.uk/money/mortgageshome/article-2116034/Lloyds-TSB-Global-Housing-Market-Booming-India-leads-world-house-price-league.html#ixzz1plrICC00

TShyam

March 21st, 2012, 07:16 PM

There is no value to being a superpower or holding a reserve currency. We should not aim for either.

Michael Pettis is a serious economist who gets things right most of the time.

http://www.foreignpolicy.com/articles/2011/09/07/an_exorbitant_burden?page=full

I completely agree with the analysis. There are economic costs but the biggest payoff is the political clout - "privileges" in the words of Michael.

Today US released the list of countries which are exempt from sanctions w.r.t trade with Iran.. and India and China are not on the list. Now how does a country which clearly does not have the military might to take on these countries have the capability to even think of these sanctions? The answer lies in its reserve currency issuer status.

And regarding the economic privilege, I am totally aware of the fact that US has to run a trade deficit and has to lose a lot of jobs. But the "privilege" is the overvaluation of dollars which results as a consequence. The fact that for 40 years Americans where just consuming without producing equivalent goods - dont you think that is a privilege? The whole world has to work for you and you can just send some dollars in return without producing equivalent goods or service.

He says the loss of jobs is a loss but infact that was the privilege - free lunch for a while. Infact I am sure that as the dominance of dollars wane, more manufacturing jobs will return to US. The dollar's value will start to decline thereby making foreign goods costlier. US manufacturer's will realize that making goods locally makes more and more sense. In short Americans will be made to work again and learn to live within their means - they cant send just dollar abroad and receive goods and services.

Thanks for providing that excellent piece. These kind of sophisticated commentary is becoming rarer and rarer in mainstream financial press like wsj, Bloomberg and ft and we are forced to go to more and more niche and boutique sites for them. It cleared some doubts I had and streamlined some thought processes. I realized that public spending has to increase to offset private investment in US thereby nullifying the rate lowering effect of excess dollars pouring in.

So my statement that it lowers the local interest rate is infact wrong but still the "privilege" to the citizens remain - because the government (sort of) hands out the money while people need not work in private jobs to get the same cash.

ChennaiIndian

March 21st, 2012, 08:12 PM

Coming here after a while...nothing special in Amma aatchi other than power cuts. Huh!

karkal

March 21st, 2012, 10:38 PM

IGCAR develops sensors to inspect defects in materials (http://www.thehindu.com/sci-tech/article3025222.ece) :applause:

Defective regions produce magnetic resistance, which in turn leads to leakage of magnetic flux

Detecting and imaging structural defects like cracks, holes etc, present in components made of ferromagnetic materials like pipelines, railway tracks and tubes has now become easy with optical sensors. These sensors were developed by Dr. John Philip and his team at the Indira Gandhi Centre for Atomic Research (IGCAR), Kalpakkam near Chennai.The results of their work were published recently in the Applied Physics Letters journal.

Contd.....

Lot of research happens in kalpakkam; not just another nuclear plant.

karkal

March 22nd, 2012, 12:03 AM

Spit & you are in spot (http://www.deccanchronicle.com/channels/cities/chennai/spit-you-are-spot-521) :applause:

A team comprising IT professionals, teachers and homemakers has launched a campaign against spitting in Chennai under the banner Namadhu Chennai Namadhu Poruppu (Our Chennai, our responsibility).

The team, which includes volunteers from more than 200 organisations, has a six-point action plan to stop people from spitting on roads and create awareness for a cleaner, healthier neighbourhood which it will implement from this week.

Engineering grad S. Srika, 21, said, “We will rope in school and college students. Instead of explaining to people ill-effects of spitting on roads, we will get better results in a short time by involving them in the campaign.”

Srika is preparing for civil services exam and spends free time rallying students in K.K. Nagar.
IT professional Suresh said: “I will take down details on dirty and clean roads. We have had meetings with corporation officials. We will involve friends to clean up roads.”

The team would sign up one person in each street. “We will protect parks and schools,” Suresh said.

“Chennai has been accommodating our quick-paced lifestyle, why can’t we make an effort to change a little to preserve its values,” asked organiser M.A. Balasubramanian. For details, call 9791005771

R2IChennai

March 22nd, 2012, 03:20 AM

I completely agree with the analysis. There are economic costs but the biggest payoff is the political clout - "privileges" in the words of Michael.

Today US released the list of countries which are exempt from sanctions w.r.t trade with Iran.. and India and China are not on the list. Now how does a country which clearly does not have the military might to take on these countries have the capability to even think of these sanctions? The answer lies in its reserve currency issuer status.

And regarding the economic privilege, I am totally aware of the fact that US has to run a trade deficit and has to lose a lot of jobs. But the "privilege" is the overvaluation of dollars which results as a consequence. The fact that for 40 years Americans where just consuming without producing equivalent goods - dont you think that is a privilege? The whole world has to work for you and you can just send some dollars in return without producing equivalent goods or service.

He says the loss of jobs is a loss but infact that was the privilege - free lunch for a while. Infact I am sure that as the dominance of dollars wane, more manufacturing jobs will return to US. The dollar's value will start to decline thereby making foreign goods costlier. US manufacturer's will realize that making goods locally makes more and more sense. In short Americans will be made to work again and learn to live within their means - they cant send just dollar abroad and receive goods and services.

Thanks for providing that excellent piece. These kind of sophisticated commentary is becoming rarer and rarer in mainstream financial press like wsj, Bloomberg and ft and we are forced to go to more and more niche and boutique sites for them. It cleared some doubts I had and streamlined some thought processes. I realized that public spending has to increase to offset private investment in US thereby nullifying the rate lowering effect of excess dollars pouring in.

So my statement that it lowers the local interest rate is infact wrong but still the "privilege" to the citizens remain - because the government (sort of) hands out the money while people need not work in private jobs to get the same cash.

I still do not get it, What the author suggests is a 3rd neutral global currency that doesnt belong to any nation?

On US case, I think more than political might it is the open transparent, most liquid and large economic size made dollar a global currency than. US labor has paid the price in job insecurity, but benefited from cheaper goods which inturn made it really viable to live despite such high unemployment rate. Getting Manufacturing back is dead it will go to vietnam or africa or somewhere so it has to work on service industry specificfically powering with high IP services.

R2IChennai

March 22nd, 2012, 03:23 AM

http://i.dailymail.co.uk/i/pix/2012/03/16/article-0-123410D1000005DC-80_468x773.jpg

Increase in GDP equals higher property values

Read more: http://www.thisismoney.co.uk/money/mortgageshome/article-2116034/Lloyds-TSB-Global-Housing-Market-Booming-India-leads-world-house-price-league.html#ixzz1plrICC00

and Chennai tops in India so it will easily be 400-500% in 10 years

karkal

March 22nd, 2012, 03:36 AM

http://images.idiva.com/media/photogallery/2012/Mar/boat_club_area_600x450.jpg

Boat Club area, Chennai: In Chennai, the Boat Club area boasts the maximum concentration of wealth. With Kalanithi Maran and the Murugappa family living here, the combined wealth is valued at $3.5 billion (approx Rs 17,500 crore) with property prices at Rs 20,000/sq ft for apartments

India's Most Exclusive Neighborhoods Make Beverly Hills Look Like A Dump (http://www.businessinsider.com/indias-most-exclusive-neighborhoods-make-beverly-hills-look-like-a-dump-2012-3)

kselvan

March 22nd, 2012, 12:46 PM

CM releases “Vision Tamil Nadu 2023” document

http://www.thehindu.com/news/states/tamil-nadu/article3104234.ece

http://www.tn.gov.in/departments/finance/TN_vision_2023.pdf

TShyam

March 22nd, 2012, 01:15 PM

I still do not get it, What the author suggests is a 3rd neutral global currency that doesnt belong to any nation?

I dont get your question. Do you mean his reference to "bancor"?

ranga

March 22nd, 2012, 01:53 PM

http://images.idiva.com/media/photogallery/2012/Mar/boat_club_area_600x450.jpg

India's Most Exclusive Neighborhoods Make Beverly Hills Look Like A Dump (http://www.businessinsider.com/indias-most-exclusive-neighborhoods-make-beverly-hills-look-like-a-dump-2012-3)

yes in dreams but the unbearable stink is a reality.:lol:

ranga

March 22nd, 2012, 01:54 PM

I dont get your question. Do you mean his reference to "bancor"?

Special drawing rights (SDR)

rapuramuser

March 22nd, 2012, 02:15 PM

rapuramuser

March 22nd, 2012, 02:20 PM

SDR:

http://en.wikipedia.org/wiki/Special_drawing_rights

There has been a lot of talk around this. However, nothing much has come out. The accumulation of any other currency (ex. Swiss Franc) will lead to a backlash by the central banks as their currencies appreciate and they become uncompetitive

rapuramuser

March 22nd, 2012, 02:31 PM

Some useful economic blogs. I used to love William Buieter. Unfortunately, he has become the chief economist for Citi

http://www.mpettis.com/ (China expert)
http://www.ritholtz.com/blog/ (Daily take)
http://www.econbrowser.com/ (generic stuff)
http://www.nakedcapitalism.com/ (Wall Street oriented)
http://www.calculatedriskblog.com/ (US housing & stats)
http://www.angrybearblog.com/ (Left of center)
http://robertreich.org/ (Labor viewpoint)

sridhar_n

March 22nd, 2012, 06:37 PM

Shyam, Rapuramuser, thanks for the nice perspective. I too wanna say something, but would not like to hijack the thread. May be we can discuss this outside this forum.

R2IChennai

March 22nd, 2012, 07:09 PM

I dont get your question. Do you mean his reference to "bancor"?

yes

TShyam

March 22nd, 2012, 08:06 PM

Shyam, I think we are in sync with respect to analysis. Although I believe that the US consumers had apparent privilege over the last couple of decades, the future will negate all those gains in a very vicious way. It is something akin to the housing boom that enabled people to load up on houses. There is really no un-earned lunch.

Yes thats true. Dollar has to devalue from the current purchasing power.

Of course, if US had used its currency clout / artificial strength in building up capital assets (solar plants, wind farms etc. )for the future, it would have been a stroke of genius. Instead the privilege was used by consumers to buy non-productive homes and fancy handbags. The future generation cannot hope to see such things.

That is what Obama is trying to do but Republicans are sure not going to allow him to proceed. Now I am a disinterested observer of US politics and I am not taking sides but IMO the republicans are really taking US in the wrong direction.

1) Manufacturing has been completely dismantled in the US due to adverse currency effects (privilege). China as a currency manipulator is one of the outcomes of the reserve currency debacle. I am not sure if it is simple to put back the manufacturing systems back in the US when currency winds change. Currency winds will change as China and Japan start becoming net importers (process has started already). The biggest impediment to return of manufacturing are agglomeration effects and loss of human capital. Agglomeration (location of the entire ecosystem in the same location) in Asia will enable the Asian economies to produce electronics, white goods and cars, cheaper in Asia. Additionally, there are very few mid-level skilled people in the US today.

Yes, There appears some resurgence of hitech manufacturing. Apart from that, i dont think I have anything to add.

2) US has to pay back all the debt. The process of deleverage has already started in both the private and public sector (states). The debt overhang will always be there, spacing out productive use of capital. The only way I can see US coming out of it intelligently is by inflating its way out of it. (print moneys). The bond-holders will be big losers (China, Japan etc.). That is probably the most sensible thing to do. The strong dollar is simply a political rhetoric. What US should do is to weaken the dollar. The debt will go away and competitiveness will return.

There is no other way out for the countries involved. It is so obvious but I dont quite understand why China is still buying treasuries. Do you have an explanation for that? It looks suicidal to me.

Sridhar: This is a free for all thread sir. Sort of like arattai arangam in TN forum. There are no restrictions (I think defense related talk is banned in SSC but apart from that). So please give your opinion without guilt.

R2IC: It is a clearing union based currency system.

Wiki gives a pretty good idea how it works

The International Clearing Union (ICU) would be a global bank whose job would be to regulate trade between nations. All international trade would be denominated in its own currency, the proposed bancor. The bancor was to have had a fixed exchange rate with national currencies, and would have been used to measure the balance of trade between nations. Every good exported would add bancors to a country's account, every good imported would subtract them. Each nation would be incentivized to keep their bancor balance close to zero. If a nation had too high a bancor surplus the ICU would take a percentage of that surplus and put it into the Clearing Union's Reserve Fund; this would encourage nations with surpluses to buy other nations' exports. Nations that imported more than they exported would have their currency depreciated against the bancor; encouraging other nations to buy their products, and making imports more expensive.

http://en.wikipedia.org/wiki/International_Clearing_Union

lexraja

March 22nd, 2012, 08:59 PM

yes in dreams but the unbearable stink is a reality.:lol:

Dude,

Wont your ever STFU ? Chennai made it to the list . Your city is no where to be seen . :lol:

TShyam

March 22nd, 2012, 09:06 PM

Yeppa, thathava appadiyellam thittathinga pa. Paavum avaru. Etho sollittu poraru vidunga. Boat club gabbadikarathu unmathaane?

R2IChennai

March 23rd, 2012, 05:01 AM

Yes thats true. Dollar has to devalue from the current purchasing power.

That is what Obama is trying to do but Republicans are sure not going to allow him to proceed. Now I am a disinterested observer of US politics and I am not taking sides but IMO the republicans are really taking US in the wrong direction.

Yes, There appears some resurgence of hitech manufacturing. Apart from that, i dont think I have anything to add.

There is no other way out for the countries involved. It is so obvious but I dont quite understand why China is still buying treasuries. Do you have an explanation for that? It looks suicidal to me.

Sridhar: This is a free for all thread sir. Sort of like arattai arangam in TN forum. There are no restrictions (I think defense related talk is banned in SSC but apart from that). So please give your opinion without guilt.

R2IC: It is a clearing union based currency system.

Wiki gives a pretty good idea how it works

The International Clearing Union (ICU) would be a global bank whose job would be to regulate trade between nations. All international trade would be denominated in its own currency, the proposed bancor. The bancor was to have had a fixed exchange rate with national currencies, and would have been used to measure the balance of trade between nations. Every good exported would add bancors to a country's account, every good imported would subtract them. Each nation would be incentivized to keep their bancor balance close to zero. If a nation had too high a bancor surplus the ICU would take a percentage of that surplus and put it into the Clearing Union's Reserve Fund; this would encourage nations with surpluses to buy other nations' exports. Nations that imported more than they exported would have their currency depreciated against the bancor; encouraging other nations to buy their products, and making imports more expensive.

http://en.wikipedia.org/wiki/International_Clearing_Union

Even with bancor, With us clout and economic scale they would get the so called "privilege"

TShyam

March 23rd, 2012, 05:15 AM

Even with bancor, With us clout and economic scale they would get the so called "privilege"

No because they wont be issuing the currency. And they wont be able to commit the original sin. (http://en.wikipedia.org/wiki/Original_sin_%28economics%29)

vs007

March 23rd, 2012, 12:39 PM

@ vs007,

I think you have not read the report fully and understood the same.

For your kind info, Japan is already contemplating to deal with alternate currency than US $ since their major purchase is from those countries opposed to US esp Iran. China is trying to bring Yuan as the alternative to US$. Politically (not economically) not acceptable to Japan.

My long post was response to your tirade against US and would like to see your response on the foreign policy issues.
Regarding BRICs bank, I have no problem if India joins bricks or mortar bank, its just that its guided or misguided by its wariness of US and any white skinned nation and happily and foolishly embracing the same old India-China bhai bhai stuff.

As regards to BRICS bank,the article itself mentioned who will be its biggest beneficiary.
"China will be the biggest beneficiary of that," says Appokin.

And none of the Govts would give that bank any autonomy as its not in their genetic code. We both know that.

India imports so much oil from Iran & Saudi. Even Iran has stakes in Chennai Petroleum Refinery. India is being stopped by US from paying to Iran (just because the transaction is in US$).
Do you know why?
Do you care about human rights and larger instability that will ensue?
Do you think US is more worried about US nukes or Saudi arabia and the entire sunni nation who are using US as prop?
Are you aware of the murder attempt of Saudi diplomat in DC and the reasons behind it?
Please understand the larger context. Sometimes the Lion roars after being begged by its courtiers(read Saudi, Israel, Bahrain,UAE, Yemen, Turkey).

Your views are jaundiced by IT development aka US dependence. Very soon we will realise that we have to look for more solid economy than too much dependence on IT esp US related.
How else do you think India developed from 1991 onwards? Without that do you think any of the civil, mechanical constructions would have boomed? People esp Indians often have a tendency to bite the hands that feeds us.

US cleverly keeps buying more and more so that the exporting countries have to deal only in dollars.
Oh Please!

Please do not bring in Red & commie dialogue here. It is not practised either in Russia or China and we all know it.
Not sure about Russia, but the latter sure does know how to export it and its patrons are readily consuming it.

BRICS is the biggest market and all countries in the world will have to come to them for one thing or other. Even European countries who are not dependent on US (US controls them thro NATO) will jump to a new currency at the first opportunity.

Are we talking of BRICS bank or you are morphing it into BRICS currency?
They are two totally different issue and one has atleast some chance of forming and other is a pipe dream.

WB & IMF era is over. Please check the facts regarding the US Govt contribution to UN, WB & IMF compared to other countries. They control the top posts but do not provide much in terms of real finance. So policy decisions are taken as per US wish.
Who formed them? What are its governing rules? Some historical context would have helped before even urging others to explore down this path.

ADB is equally strong now and does better service in Asia. JAICA is also doing very well. Why not BRICS Bank ?
ADB is doing well, and whose interest does it primary serve? Same issue with BRICS, only the beneficiary will change who is our prime adversary.
PS: Pakistan is not our mortal threat, its a distraction at best.

kannan infratech

March 23rd, 2012, 01:33 PM

jaish

March 23rd, 2012, 04:13 PM

self deleted

kongutamizhan

March 23rd, 2012, 05:52 PM

Forget about brics currency. I am with VS007 here.

BRIC'S bank? duh!! I will believe a bloc comprising US anyday than one that has China in it. Kannan you totally got the fundemendals wrong. So US wrong horse huh? How are you so sure? Care to explain?

kongutamizhan

March 23rd, 2012, 06:03 PM

US citizens enjoyed 4 decades of unprecedented wealth simply because their money was the world reserve currency (which ironically started on our 25th independence day - google it to learn more). Reserve currency status generated extraordinary demand for the dollar worldwide.

huh again? Heard of innovations?

vs007

March 23rd, 2012, 07:19 PM

@ vs007:

The issue here is the BRICS bank and the currency or SDR equivalent to be used.

Please do not get jaundiced, since you have seen only one sided arguments / points of views mostly from the west aka US backed. All the reports from the internet have been prepared by the west / backed by them.Can you please point out which of my arguments seem faulty or biased to you and we can discuss.

From an Indian POV, we should get our dues from where ever and we should not be slaves to others. The problem with India is that we dont have strong leadership to take bold decisions.
Thats exactly my point! The only difference being I am pointing out China which has already attacked us and have long running and wide range of territorial disputes and China usually has it its way. We dont have any territorial disputes with US and our long term interests actually converge vis-a-vis China if and when we can clear our eyes off the nehruvian model.

Why Japan is considering switching over from US $ ?
What do you mean? They already have yen. Many nations have started making contracts in Yuan. So whats the big deal?

US is trying to live on others' money and it has managed to do that till now. But how long ?
Now you seem to be talking turkey, read my earlier posts. I mentioned US was fool to open up FTA to China thus empowering its enemy and in the process bankrupting itself. If you think about it, all I said about Milton Friedman and all that would make sense to you now.

Why align with a wrong horse when you are sure that it is going to fail in near future.?

Now thats a wishful thinking. Please read Fareed Zakaria's Post American World. Thats one of the best books on this emerging global scenario.

Thuglak Cho says " We should follow China policy. They export max to US but still manage to oppose US in all forums & policy fronts. US lamely is accepting this position since US lives on Chinese exports". India has a long way to go to achieve that economic might but it has to start along the path now.
Ya we should. Ask Cho to get the FTA signed first like China and then we can have 2020 Olympics like Beijing. :lol:

On the latter part, you seem to have realized of the foreign policy blunder committed by Reagan and the republicans.

sr123

March 23rd, 2012, 07:32 PM

Loving the discussion and would like to see it continue given the civilized tone. But in the interest of keeping the relevance of the thread I think this discussion should be taken else where.

kongutamizhan

March 23rd, 2012, 07:36 PM

Now thats a wishful thinking. Please read Fareed Zakaria's Post American World. Thats one of the best books on this emerging global scenario..

I second it. Like Zakaria mentions in his introduction this era is not about decline of America, but rather about the rise of everyone else. That's why the arguments here by Kannan and others are fundemendally wrong. US is not wrong horse (you can wish so), but could be one of the top-horse in future instead of the only top horse.

But hey I would prefer track-record over sensation.

satchitananda

March 23rd, 2012, 07:45 PM

I think it will be foolish to get things polarised.. back like cold war times.. but it makes sense to free ourselves from the dollar trade.. take for instance.. currently india and china are the two major trade partners of iran qho are singled out.. while europe has been given a blanket exception..

India is more dependant on iran oil than china.. which makes us pay a bigger price due to our iran stance.. any iran-israel war will have disastrous consequence to us as we are affiliated to both.. and US on top of its sanction list has got India (unexempted).. this kind of foreign policy will not be in play if we can decouple our transactions based on $$$$$$.

It will take strong foreign policy vision to articulate such a stance.. and the current government and MMS are spineless.. we cannot expect such strong stance.. hence the above discussion is purely hypothetical..

TShyam

March 23rd, 2012, 08:30 PM

I second it. Like Zakaria mentions in his introduction this era is not about decline of America, but rather about the rise of everyone else. That's why the arguments here by Kannan and others are fundemendally wrong. US is not wrong horse (you can wish so), but could be one of the top-horse in future instead of the only top horse.

But hey I would prefer track-record over sensation.

No one has any grudge over US except the fact that dollar is forced on to global trade (by making oil exporting companies trade only in dollars). Infact no one is even predicting any decline of US in an absolute sense but only in relative sense (in other words one of the top horse and not the only top horse).

karkal

March 23rd, 2012, 09:14 PM

satishanu

March 24th, 2012, 01:11 AM

KPMG LLP has conducted an analysis of the relative costs of doing business in 14 countries in the Americas, Europe, and Asia Pacific.

Chennai has been selected as most competitive city in some/many of the categories.

India 2nd most competitive country.

http://www.competitivealternatives.com/reports/2012_compalt_overview_en.pdf

http://www.competitivealternatives.com/reports/2012_compalt_report_vol1_en.pdf

Nice find Karkal. Within India, Chennai beats Mumbai hands down in all 19 Industry operations and ranks within top three in several categories :cheers:

karkal

March 24th, 2012, 02:14 AM

Chennai all set to turn brighter (http://www.thehindu.com/news/cities/chennai/article3207181.ece)

http://www.thehindu.com/multimedia/dynamic/01016/th24_LAMPS_eps_1016795e.jpg

The Chennai Corporation will kick-start a massive programme next week to improve lighting in the city, with the focus on replacement of around 60,000 streetlights. It will install 25,000 solar-powered streetlights in eight new zones.

At a meeting on Thursday, the Chennai Corporation decided to replace tubelights and mercury vapour lamps with energy-saving lights such as induction lamps, LED lights and compact fluorescent lamps.

The first part of the tender to replace old tubelights in added areas will be released next week. The initiative is expected to bring down the level of energy consumption by 25 per cent and save 36 lakh units in the coming year.

Hours of darkness in 426 sq km of the city are tackled by just 2.2 lakh streetlights, which are found to be inadequate in many of the expanded areas with just 88,000 old streetlights. After expansion, the Chennai Corporation was able to bring down the percentage of not-burning streetlights in the eight added zones to 5.4 per cent. The number of such streetlights is estimated to be around 4,752. To temporarily overcome this problem in added areas, the civic body will purchase 5,000 streetlights through the ongoing tender process.

Even though roads in seven zones ie. Tondiarpet, Royapuram, Thiru-Vi-Ka-Nagar, Anna Nagar, Teynampet, Kodambakkam and Adyar of old city limits have superior illumination with a very low percentage of ‘not-burning' streetlights, darkness prevails in many stretches in many of the added areas because of the continuation of the old system of illumination adopted by many panchayats earlier.

The Corporation's norm of a minimum of 25 metre distance between two adjacent streetlights is being violated in zones such as Tiruvottiyur, Manali, Madhavaram, Ambattur, Valasaravakkam, Alandur, Perungudi and Sholinganallur.

The Chennai Corporation has planned to erect new poles in such areas.Existing streetlights fixed on Reinforced Cement Concrete poles in added areas would be replaced according to the norms of the Chennai Corporation. The civic body has started locating new dark spots on stretches.

A smart street lighting system would also be installed across the city to monitor defects in streetlights from a control room and take remedial measures at the earliest. Most of the new streetlights are likely to be induction lamps as they last for five years and are easy to maintain and replace.

sridhar_n

March 24th, 2012, 05:15 AM

The vision 2023 document excites me a lot. Lot of initiatives - power, land acquisition, infra, indl development, housing, poverty alleviation etc etc..even if 70% of that fructifies, it will be a big achievement.

karkal

March 24th, 2012, 05:17 AM

There is a separate thread in TN for vision 2023. Join the fun.

Vicvin86

March 24th, 2012, 11:54 AM

3_pQ2m8cXuM

It was foggy today and it slowed down trains considerably. Here Garib rath crawls near Ennore Thermal power plant.

rapuramuser

March 24th, 2012, 12:02 PM

[QUOTE=TShyam;89711499]

There is no other way out for the countries involved. It is so obvious but I dont quite understand why China is still buying treasuries. Do you have an explanation for that? It looks suicidal to me.

China and US are together linked in an unsustainable relationship. Both of them know that. I think it is easier for the US to get off that relationship because they have now realized the bad consequences arising out of it.

I believe that it is far harder for China to get off their growth model. China has been using their domestic savings to subsidize US consumers by holding currency low. While it worked wonders in terms of growth, led by an export model, it is now unconscienable. They have to now get off that dope and shift to internal consumption.

Their internal consumption is not taking off and they are not able to move away from an export & investment (equally bad) led growth. The fear is that they cannot maintain social stability if the growth rate falls below 6%. When the financial crisis hit, they got a huge stimulus package that maintained the growth rate through domestic investments. Most of these investments are unproductive. Building malls, apartment complexes and roads that will never be used.

Given this scenario, they cannot stop their export machine. Their trade surplus continues to be high and to support that they buy treasuries. (as discussed earlier). How they move away from these models to an internal consumption model with a trade deficit is anybody's guess. The policymakers understand this, but the politicians cannot act on this.

But, we have seen some data in the recent past signaling trade deficits and fall in exports due to currency appreciation. Whether it continues is anybody's guess.

According to a lot of China observers, the growth rate should fall to 3% in a couple of years after the power transition is complete.

TShyam

March 24th, 2012, 03:12 PM

Yeah but why arent they buying some real assets abroad? Why treasuries?

Also are you suggesting China will fall into the middle income trap? Or the sudden crash will be just a blip and China will start growing again on back of hi tech industries?

Why isnt China allowing the yuan to raise? I know it might hurt its export but that is the best way I see for turning it into a consumption based economy.

When is the consensus that the instability will cause the crash? I mean the time period.

Its a lot of questions but if you are not comfortable answering here, please PM me your mail id. We can discuss in private..

TShyam

March 24th, 2012, 03:27 PM

One more question :D

How do you see a Chinese slowdown affect India? It was obvious (atleast with the wisdom of hindsight) how an US slowdown will affect India but will a Chinese slowdown have any effect? I am asking with respect to both exim and monetary flow. Do you think global money managers and hedge funds will be forced to pull out FDI and FII money out of India under those circumstances?

TShyam

March 24th, 2012, 03:58 PM

KPMG LLP has conducted an analysis of the relative costs of doing business in 14 countries in the Americas, Europe, and Asia Pacific.

Chennai has been selected as most competitive city in some/many of the categories.

India 2nd most competitive country.

http://www.competitivealternatives.com/reports/2012_compalt_overview_en.pdf

http://www.competitivealternatives.com/reports/2012_compalt_report_vol1_en.pdf

Great! The cost arbitrage in services and R&D is huge. So much for slowdown or reversal in outsourcing. But manufacturing cost arbitrage is vanishing. China is surely getting into trouble.

karkal

March 24th, 2012, 05:42 PM

Chennai innovator in MIT Tech Review's list (http://www.thehindubusinessline.com/industry-and-economy/article3220401.ece?ref=wl_opinion)

CHENNAI, MARCH 24:
A young Chennai innovator has been chosen to the MIT Technology Review's India TR35 list of young Technology Innovators.

The 28-year-old technologist Venkatesan Oosur Vinayagam, founder of Chennai-based Hexolabs Interactive Technologies, has been named as the Social Innovator of the Year. This is for innovating Mobile antakshari, a voice-based mobile technology solution.

Vinayagam has developed a multilingual speech recognition technology-enabled mobile music service that is based on the classic Indian musical game of antakshari. The innovation in Mobile Antakshari lies in adding the right usability and technology elements, says a press release issued by CyberMedia.

He will present his innovation to an audience of 500 innovators, including six outstanding scientists and researchers from Massachusetts Institute of Technology (MIT) at the fourth emerging technologies conference of MIT Technology Review's, EmTech India, starting March 27 at Bangalore.

This year Technology Review India received over 250 nominations from all over India.

Innovator of the Year – Aniruddha Sharma, 24, created a haptic shoe for the visually impaired. The haptic feedback guides the user to the destination by vibrating in front, back, or on either side of the shoe, indicating that the user needs to turn.

Humanitarian of the Year - Somnath Ray, 35, redesigned the age-old para-transit vehicle for the disabled that gives them not only mobility, but also a mobile commerce platform, the release said

krishnaswamy

March 24th, 2012, 06:42 PM

கண்டபடி உயரும் சென்னை வீட்டு வாடகை!

சென்னையில் கண்டபடி உயர்ந்து வரும் வீட்டு வாடகை அனைவரையும் கவலை கொள்ள வைத்துள்ளது குறிப்பாக நடுத்தர மக்களை.

முன்பு பேச்சலர்களுக்கு வாடகைக்கு விட மாட்டேன் என்று கூறியவர்கள் தற்போது அவர்களைத் தவிர மற்றவர்களுக்கு வாடகைக்கு விட யோசிக்கிறார்கள். இதற்கு முக்கியக் காரணம் கணிப்பொறி துறையில் கிடைக்கும் அதிக சம்பளம். முக்கியமாக யாரும் அலைய தயாராக இல்லை என்பதால் 1000 அல்லது 2000 அதிகம் என்றாலும் சரி என்று ஒத்துக்கொள்ளும் மனோபாவம்.

நான்கு பேச்சலர்கள் சேர்ந்து 3000 வாடகை மதிப்புள்ள வீட்டிற்கு 1500 வீதம் 6000 கொடுக்க தயாராக இருப்பதால் இவர்களுக்கே முன்னுரிமை அளிக்கப்படுகிறது. இன்று விளம்பரத்தில் ஒரு வீடு வாடகைக்கு வருகிறது என்றால், நம்பினால் நம்புங்கள் காலை 7 மணிக்குப் பிறகு நீங்கள் அந்த எண்ணை தொடர்பு கொண்டால் அந்த வீடு முடிந்து விட்டதாக கூறுவார்கள். அந்த அளவுக்கு சென்னையில் வீடு கிடைப்பது சிரமம்.

கணிப்பொறித் துறையில் உள்ளவர்களால் மட்டுமே வாடகை உயர்வு என்றும் ஒரேயடியாக குற்றம்சாட்ட முடியாது, சதவீதத்தில் வேண்டும் என்றால் அளவு அதிகம் இருக்கலாம். இன்றைய காலக்கட்டத்தில் பெரும்பாலான துறையில் உள்ளவர்கள் ஓரளவு குறிப்பிடத்தக்க ஊதியம் பெறுகிறார்கள். எனவே அனைவருமே அலைவதற்கு விரும்பாமல் அதிக பணம் கொடுத்து உடனடியாக வீட்டைப் பிடிக்க விரும்புகிறார்கள். இதை எல்லாவற்றையும் விட தரகர்கள். வாடகை உயர்வில் மிக முக்கியப் பங்காற்றுபவர்கள் இவர்களேது. தங்களுக்குக் கிடைக்கும் தரகு பங்கின் அளவை அதிகரிக்க இவர்களே போலியான ஒரு டிமாண்ட் ஏற்படுத்தி விடுகிறார்கள் மற்றும் வீட்டு வாடகையை உயர்த்தி விடுகிறார்கள்.

இப்பொழுது சென்னையில் 6000 - 7000 குறைவாக வீடு கிடைப்பது மிக அரிது அதுவும் பல கண்டிப்புகள் வேறு. வீடு எடுப்பது என்றால் சாதாரண விஷயம் இல்லை ஏலம் போன்றதுதான். அங்கே சென்றால் யார் அதிகம் கூறுகிறார்களோ அவர்களுக்கே அந்த வீடு. அதிக வீட்டு வாடகை கொடுப்பது வேறு வழி இல்லை என்றாலும், கொடுக்கும் வாடகைக்கும் உரிமையாளர்கள் கொடுக்கும் வசதிகளுக்கும் சம்பந்தமே இல்லை. எந்த ஒரு வசதியும் செய்து கொடுக்காமல் கண்டபடி வாடகை வசூலிப்பது தான் பலரின் வயித்தெரிச்சலுக்குக் காரணம்.

மைலாப்பூர், மந்தைவெளி, கே கே நகர் அண்ணாநகர் போன்ற இடங்களில் வீட்டு வாடகை குறைந்தது 10000 15000 20000 அளவில் உள்ளது. இங்கு இடம் பெயர்பவர்கள் பெரும்பாலும் குழந்தைகளின் படிப்பிற்காக மாறியவர்கள். இங்கு பள்ளிகளின் அருகாமையைப் பொறுத்தே வீட்டின் வாடகை அளவு நிர்ணயிக்கப்படுகிறது. இந்த இடங்களில் சமீபமாக 15000 ரூபாய்க்கு குறைந்து வீடு கிடைப்பது சிரமமாக உள்ளது. ஒரு நடுத்தர குடும்பத்தின் சம்பளத்தின் பெரும் பகுதி வீட்டு வாடகைக்கே போய் விடுவது பெரும் சோகம். முன்பு கிண்டி என்றால் வாடகை குறைவு என்று அங்கே வீடு பார்த்தார்கள் பிறகு அது தாம்பரம் ஆனது, இப்பொழுது அங்கேயும் உயர்ந்து விட்டது. இப்படியே சென்றால் செங்கல்பட்டில்தான் வீடு பார்க்க முடியும் போல உள்ளது. செங்கல்பட்டு வரை மாநகரப் பேருந்து வேறு இயங்குவதால், இனி அங்கும் குறைந்த வாடகையில் வீடி பிடிப்பது கஷ்டம்தான்!

ஒருவர் ஒரு வீட்டை காலி செய்கிறார் என்றால், அடுத்து வரும் நபருக்கு அந்த வீட்டின் உரிமையாளர் ரூ 1000 முதல் 2000 வரை வாடகையை ஏற்றிவிடுகிறார். இப்பொழுது யாரையும் அதிக நாட்கள் தங்க விடுவதில்லை (அப்போது தானே வாடகையை அடிக்கடி உயர்த்த முடியும்) அப்படியே அனுமதித்தாலும் வாடகை உயர்வு முன்பு போல இல்லாமல் அதிகளவில் இருக்கும். ஒத்துக்கொள்ளவில்லை என்றால் பேசாமல் வீட்டை காலி செய்ய வேண்டியதுதான், அடுத்த நபர் தயாராக இருக்கிறார், நீங்கள் எப்போது கிளம்புவீர்கள் என்று.

எனவே வீட்டு உரிமையாளருக்கு எந்த பிரச்சனையும் இல்லை. குழந்தைகளின் பள்ளி மற்றும் அலுவலக இடம் ஆகியவற்றைக் கருத்தில் கொண்டு அடிக்கடி மாற்ற முடியாத நடை முறை சிக்கல் இருப்பதால் அவர்கள் கேட்பதை அழுது தொலைக்க வேண்டியுள்ளது.

அட்வான்ஸ் எனும் பகல் கொள்ளை

அதிலும் வீட்டு உரிமையாளர்களின் இந்த அட்வான்ஸ் கொள்ளை இருக்கிறதே... வடிவேலு சொல்வதுபோல, கேட்டதும் கண்ணைக் கட்டும் சமாச்சாரம்.

சென்னையில் பெரும்பாலும் 10 முதல் 15 மாத வாடகை அட்வான்ஸாக தரவேண்டும். அதாவது வட்டியில்லாத கடன்!

சிலர் 20 மாத வாடகையைக் கூட அட்வான்ஸாக கேட்பதும் உண்டு. இந்தப் பணம் அப்படியே திரும்ப கிடைக்கும் என்பதற்கும் உத்தரவாதமில்லை. என் வீட்டு பெயின்ட் நீ குடியிருந்ததால மங்கலாயிடுச்சி, அதுக்கு மூணு மாச வாடகையை பிடிச்சிக்குவேன் என்று கடைசி நேரத்தில் கழுத்தறுக்கும் ஹவுஸ் ஓனர்கள் நிறையப் பேர்!

பலர் இந்த அட்வான்ஸுக்கு ரசீதுகூட கொடுப்பதில்லை. அக்ரிமெண்டும் எழுதுவதில்லை. பெரும்பாலும் காலி பண்ணும்போது, ஹவுஸ் ஓனருக்கும் குடித்தனக்காரர்களுக்கும் நல்ல உறவும் இருக்காது. அந்த நேரத்தில் இந்தப் பணம் வருமா என்பதே கேள்விக்குறியாகிவிடும்.

வாடகை வீடு... என்று யோசிக்க ஆரம்பித்தாலே தலை கிர்ரடிக்குதே என்பதுதான் இன்றைய நிலை.

கண்டிப்பாக என்றாவது ஒரு நாள் இந்த வாடகைப் பிரச்சனை பெரிய அளவில் விஸ்வரூபம் எடுக்கும். இதில் அரசு தலையிட்டு இந்த வசதிகள் இருந்தால் மட்டுமே இந்த வாடகையை வசூலிக்கலாம் என்று வாடகையை நிர்ணயம் செய்ய வேண்டும் இல்லை என்றால் இதற்கு விடிவே வராது.

ஏற்கெனவே வாடகைக் கட்டுப்பாட்டு சட்டமெல்லாம் இருந்தாலும், அதன் கீழ் எடுக்கப்பட்ட நடவடிக்கை என்று பார்த்தால், விரல் விட்டு எண்ணிவிடலாம்.

எனவே அரசு கொஞ்சம் சீரியஸாக தலையிட்டால் மட்டுமே இதை கட்டுக்குள் கொண்டு வர முடியும். அதுவரை வேற என்னங்க! புலம்பிக் கொண்டே எடுத்து நீட்ட வேண்டியதுதான், பணத்தை!

குறிப்பு: வீட்டு வாடகை பற்றி மட்டும்தான் இங்கே சொல்லியிருக்கிறோம். வீட்டு உரிமையாளர்கள் இதில் போடும் அக்கிரம கண்டிஷன்கள், என்ன சாதியாக இருக்க வேண்டும், எந்த வகை உணவு (சைவம் - அசைவம்) போன்றவற்றை இன்னும் நான்கைந்து கட்டுரைகளாக எழுதலாம்!

kannan infratech

March 24th, 2012, 08:22 PM

Latest rumours say that there is a big power struggle within the chinese admin.

This has seriously affected their economy and any time the news may be leaked.

Tax collections are down and collections from exports esp USA have been very poor.

Lets watch. Opportunity for India to learn lessons and utilise for the better

dis.agree

March 24th, 2012, 09:09 PM

huh again? Heard of innovations?

what has innovations got to do with what is money? inspite of all it's innovations, us$ has lost 99% of it's value in the last 100 years - most of which in the last 4 decades after they officially moved away from their currency being backed by gold. if this isn't shocking, i wonder what is. i really doubt there is anyone out there, who have so much faith in us$, that they hold on to such paper instead gold or other assets.

clearly you don't understand money. mises institute has ample material and you may want to begin with "what has govt done to our money" by man himself - murray rothbard.

kongutamizhan

March 25th, 2012, 01:41 AM

clearly you don't understand money. mises institute has ample material and you may want to begin with "what has govt done to our money" by man himself - murray rothbard.

money money money, must be funny in a rich man's world :)

No empire however strong it is will be able to dominate the world for ever and that includes US. But does it mean that all powerful empires have to fall from high? No, not necessarily. Do you think that US is not aware of the challenges that it may not be able to retain its currency as single trading currency for ever? No it doesn't.

That's why I seriously recommend you to read the book VS007 suggested. It will be an eye-opener for you on several fronts. It is written by an Indian-American Muslim post 9/11 and post recession. (I had to give the ethnicity of the author for a reason)

Alright let's see if my understanding of money is correct. How does a government create wealth? A government can through one or more than one of the combination of the following

1) Minimizing spending and keeping taxes to the minimum
2) Allowing private ownership of business
3) Minimizing interference with free exchange of goods and services
4) Passing laws that insures business people to write enforcable contracts
5) Establishing currency that is tradable in the world
6) Minimizing corruption and barriers
7) Providing conductive environment for continuous innovation

What is America's problem?

This along with the debt

http://s17.postimage.org/anuby7ur3/Screen_Shot_2012_03_24_at_6_10_24_PM.jpg

What do they do to negate it?

Still it continues to remain land of opportunities and embraces immigration.

Despite 9/11 it encourages involvement of people from cross-culture demographics. Yes from intelligence side it takes few precautions that is required for safety of its citizens, but still has a system in place that assures checks and balances in the society.

Free trade

Where does innovation come into picture?

To cut long story short

Agricultural Era
Manufacturing Era
Service Era
Information based Era

The world is heading towards the final one now. In 1800's agri led the economic development. Industrialization of 1900s moved the jobs from farms to factories. As technology improved fewer workers were needed at factories. So economy moved towards services and information technology. How does the future hold for next gen population?

Entrepreneurship and ability to take risk
Nurture creativity / ideas
Prior experience in reaction to change
System and structure

Finally brands. Here is the count of powerful brands across the world today

http://s17.postimage.org/utbd7b0xb/Screen_Shot_2012_03_24_at_6_38_02_PM.jpg

Which country you think provides the best platform for nurturing all these?

PS> This post is just the beginning to get the brainstorming discussions started. More follows

References: Will be provided upon request