A recent study has found that response to risk changes systematically through the week. Specifically, willingness to take risks decreases from Monday to Thursday and rebounds on Friday. Now you know why even bad movies make some money? Friday releases of course.
Today's Chai is risk free and brimming with start-of-the-week energy though. Have a great day and an awesome week ahead.
❤ You've got this!
Home Isn't Where the Money Is
As a series of lockdowns and movement restrictions began, companies too began cutting costs amid an ambience of uncertainty. Naturally, with staff working from home and no opening date in sight, office spaces were the first to be axed out of the monthly fixed costs section.
One Sector's Nightmare is Another Sector's Dream
Netflix and Prime Video rose to stellar heights as cinema brands with billions invested watched from the sides, sucking their thumbs in dismay.
While all the local supermarkets remained inaccessible for months, e-commerce giants gained market share rapidly and numerous last mile delivery startups breathed to life, irrespective of the Coronavirus in the air.
As schools and colleges downed their shutters, online education portals swiftly moved in with curricular and extra curricular virtual classes.
Get the point? Something is always thriving on this planet and thriving organisations need space to grow.
IT, Healthcare and Edutech Sectors to Revive Office Demand
As pilots, hospitality and real estate folks destroy laptop touchpads tapping the 'Apply to this job' button, other people are laughing all the way to the bank.
IT/ITes - The pandemic has ensured that online presence is paramount now. As a result, everyone has suddenly decided to hire IT teams. Websites, CRM installs, custom software and digitalisation of traditional workflows are the in things now.
For bigger e-commerce/brick-and-mortar business players that have accomplished these already, the leap is into big data, marketing automation and cloud based technologies.
IT firms and their related clan need loads of office space now to cater to this ever increasing demand.
Healthcare - This sector didn't just suffer from gaps. In fact, it was hiding craters that surfaced as the second COVID wave washed away the murky top. A steep growth curve in such a situation is inevitable and legit.
Established players, new players and many who pivoted into healthcare from other industries saw technology as the apt tool to scale up and integrate more manpower into their offerings, sky rocketing hiring.
Result? Need for more office space.
Edutech - With India's obsession for degrees and certificates, old and new players in the education sector are building virtual learning platforms with new interactive features to bring education on the same small screens meant for Candy Crush and PUBG.
This also translates into the need for more office space.
Is Office Space Demand Reviving?
Umm, guess it should.
Not Enough Anymore
Property Registration and Mutation
Property Registration - Whenever real estate changes ownership, the final agreement for sale - containing property details, current ownership, previous records and the name of the new owner, is registered with the state registrar after paying stamp duties and other charges as applicable.
The process is also called conveyance. [Registrations fall under Section 17 of the Registration Act of 1908.]
Mutation - Mutation refers to the transfer or change of property title ONLY in the records of the local municipal body. This enables local bodies to identify the correct property owner so that they can charge the owner with property taxes and other levies.
Why the Order Then?
Over the years, mutation certificates have become a necessary part of your property owner's kit, meaning for any official purpose (for example, taking a loan with your property as collateral) a mutation certificate and an up-to-date property tax paid receipt is mandatory.
Most property owners often flashed their mutation papers as they were easier to carry around and produce wherever needed in an instant, instead of precious and cumbersome title deeds.
The relationship between ownership and mutation started 'trending' over time and many assumed that a mutation certificate alone was enough to prove property ownership.
This meant rampant fraud, corruption and spanners in the works.
What Now?
"Be that as it may, as per the settled proposition of law, mutation entry does not confer any right, title or interest in favour of the person and the mutation entry in the revenue record is only for the fiscal purpose." the bench observed.
In one phrase - increased transparency of property ownership across the country.
Uphill Task
A pristine and well-planned township amid the monsoon greenery of the Ghats – it's a dream location with all the right boxes checked but on closer inspection, Lavasa is missing a critical component for success – people.
With development and community building stalled for years, residents of Lavasa are now awaiting a decision that could make or break the hill township's and their own futures.
Two companies have finally submitted revival bids for the project before the resurrection deadline ends in October 2021. FYI, the pretty hill city has been waiting for such suitable revival bids for the last three years.
Backstory
On the drawing board since the year 2000, the Lavasa township was planned across 25,000 acres spanning 18 villages of Mulshi Taluka in the Pune region, Maharashtra. Projected as India’s first privately owned hill city, it gathered a lot of interest and investment from people who wanted to call such a place home.
But as the years went by, the project faced numerous land usurping cases from the villagers who were never paid plus the hill city was also found to be violating crucial environmental norms.
These headwinds finally took a toll and the project ran out of gas, eventually transforming into the ghost town that it is today.
In May 2021, Lavasa residents had approached the Maharashtra chief minister with an SOS, mentioning that it had been almost 3 years since Lavasa approached the National Company Law Tribunal (NCLT), but no fruitful takeover plan for the city had came forth yet.
Tunnel, Light, et al
Mumbai-based Darwin Group of companies and Delhi-based Dhir and Dhir Associates - the two firms that have submitted revival bids for Lavasa are now the residents’ last hope. If this revival attempt fails, liquidation remains the only option, meaning that it’s curtains for the hill station and its folks.
“We are hoping for a positive resolution as failure would lead to liquidation, which would be detrimental to the interests of all”, a resident of Lavasa quoted to the press.
- Residents' Welfare Association dudes told an EV 2-wheeler owner that ‘where you live is where you charge’ so he takes his scooter up five floors to charge it. Are RWAs throwing a spanner into India's EV works?
- Patna's Metro plans are facing a land acquisition roadblock along with a fund crunch and the usual COVID. About 80 crucial acres of land need to be acquired to join the dots and make the Japs release the funds to finish the first phase of the project.
- A total of 743 new projects (residential, commercial, mixed use and plots) have been registered with Gujarat RERA in FY 21-22 already. When this total investment value of INR 19,639 crore is compared to last year, there is a noticeable growth in new initiatives.
- Haryana plans to roll out an affordable rental housing scheme for industrial workers across the state. The idea is to create for-rent-only residential complexes on land sizes between 0.5 to 4 acres. Industries have welcomed the move.
Good chai is meant to be rapidly shared without questions. Today being a Monday, we say take the risk of sharing this email with your mother in law and other friends or colleagues.
There isn't another brew like ours for miles you know.
See you tomorrow morning.
☕ The Crew@Ginger Chai
[*Chai GIFs at Tenor]