Friday, June 10, 2011

Hinjewadi calling

It appears that protests of every kind are fashionable these days.  Now Hinjewadi tech workers are demanding better infrastructure for their own backyard.

Some interesting statistics : 70k tech workers contributing to total of 300k jobs. Roughly $4B in revenue. Projected growth to double in the next five years one can only imagine the plight of workers who commute from far off places to Hinjewadi.  The next logical think which people do is to move closer to work. If this happens we will see prices closer to Hinjewadi jump as demand will begin outstripping supply. Right now Baner/Pashan/Kothrud/Balewadi/Bavdhan are poised for another jump in prices. Pune prices have stabilized and now rising slowly again. With 70k people in Hinjewadi, Magarpatta and eastern pune are way behind west pune. I've heard recently Cap Gemini has opened a big office in Hinjewadi and Accenture is moving to Hinjewadi in a big way and moving people there from their Magarpatta office. IBM, TCS, Infosys and Wipro are already big in terms of headcount. If the headcount reaches 140k in the next 3 years investors in these areas will be amply rewarded. However the million dollar question is which builder to trust even after being convinced that a location is ready for prime-time ?




PUNE: Information technology (IT) professionals of the Rajiv Gandhi Information Technology Park in Hinjewadi took to the streets of this prime IT hub of Pune on Friday afternoon to express their anguish over the poor infrastructure, sub-optimal traffic management and inadequate security arrangements.

The silent protest of these knowledge workers triggers 'Hinjewadi First', a three-month-long campaign aimed at attracting the attention of all stake holders - including the administration, law-and-order machinery and local residents, to the need for a better Hinjewadi.

These professionals, who are generally busy creating cutting edge software solutions for businesses spread all across the globe, were unperturbed by the monsoon showers as they stood holding umbrellas and banners in their hands asking for better infrastructure, better traffic management, enhanced power supply and security for Hinjewadi.

Over 70,000 professionals work in Hinjewadi generating IT exports of around $4 billion, to contribute nearly 40 per cent of Maharashtra's IT exports annually. Incidents in the last couple of years have raised concerns about security in the area and the physical infrastructure being inadequate.

Mritunjay Singh, president of the Hinjewadi Industries Association (HIA), told mediapersons earlier in the day that Hinjewadi First is an initiative that intends to gain the attention of the stake holders of the state and the city through a series of activities planned over the next three months. The intention is to highlight the need for improvement in the Hinjewadi area, making it a world class IT destination.

"We get adequate support from the government for specific problems raised, but the time has come to look at the growth potential of the area. We need to take a proactive approach in developing infrastructure, power, security and traffic on an urgent basis, looking at the growth potential of the area," he said.

Singh pointed out that there is only one arterial road in Hinjewadi and this is inadequate by any standards to handle the number of vehicles that carry the 70,000 plus professionals in and out every day. "If we allow things to go as they are, the road will choke very soon," he added.

According to Singh, the growth of Hinjewadi can be well-planned and structured if a dedicated and competent authority is created by the government to develop a holistic strategy for Hinjewadi and Pune as an IT hub. HIA is looking for completion of a fire station in Phase III, development of more connecting roads from Infotech Park to Balewadi and Baner to ease the traffic flow, improvement of public transport, increasing the water storage capacity by 5,000 cubic meters along with an alternate water line from Kasarsai dam, improvement in pumping facilities and changing the old water line to new.

Singh said HIA has planned many more activities involving a variety of stakeholders to find a comprehensive solution to Hinjewadi's issues. These will include round table meets, symposiums, traffic regulation drives, tree plantation week, opinion poll through different mediums and a big conclave to conclude the drive and the creation of a vision document for Hinjewadi, he added.  

37 comments:

==> said...

==> Are there any jhopadpati (slums) in Hinjewadi? It needs them else how would richie techie be rich, need someone to do household chores for peanuts and who can be better choice then slum dwellers.

Earn more and give less.

Anonymous said...

==>said,

are you unemployed? you seem to have so much time to be posting here constantly.

name said...

a

==> said...

I am an unemployed dick sucker.

Anonymous said...

"Article says IT professionals creating cutting edge software solutions for global..." My foot..these are just a bunch or tech coolies coding all day and night and kissing the white mans...you know what. Looks like "said" has some past experience..

Anonymous said...

=> Said:

You are the biggest chutiya on this blog. You are not only a dick sucker as you admitted but a dirty dick.

Stop propagating your nonsense to the bloggers here. Go and pimp for RE lobby somewhere else.

Anonymous said...

Guys, lets be fair. No need to be emotional and start personal attacks on the blog. Lets just only share our ideas and information and that would benefit everyone

==> said...

Wonderful, so many people impersonating me. I am honored.

Looks like these people have started to fascinate to fulfill their dreams about themselves under my banner.

Again, I'm honored.

Any more impersonators. Feel free, Vik has provided free blog to achieve your outlet.

shailesh said...

How to fix corruption issues in India's real estate sector

Anonymous said...

==>said You got balls of steel. Way to go man..

Anonymous said...

==> really is bindas bhai actually - I am sure of it !!!!!

shailesh said...

Rich Indians flocking to buy houses in London

Property in most areas in Britain have fallen substantially in the last three years, but foreign capital continues to buoy real estate prices in London.

Latest research by estate agent Savills says, "There are more buyers coming from India and Pakistan than China - and they're spending more. It is this group that Savills identifies as most important to the London market among the emerging economies".

In 2010, rich Indians bought residential property worth 290 million pounds in the city's prestigious areas of Mayfair, Belgravia, South Kensington, Chelsea and Holland Park.

Indians show a preference for properties in areas such as Mayfair, Belgravia, Regent's Park, St John's Wood.

The properties are reported to be second or third homes for a rising number of wealthy Indians.

The average property in this segment is a four-bedroom house, with a room for domestic help, used as a second home by rich Indians or their children studying in the city.

London is considered to be particularly attractive to the global super-rich because of its accessibility, stability, and the global standing of its financial institutions.

Pawan said...

@Shailesh,
If the above news is to be believed then there are lots of Indian who have so much money they are buying homes even outside India. How can one expect to see any softening in prices in India?
Meanwhile, appt prices are up 15%-40% in the last 6 months in Delhi. Is anyone bothered about interest rates anymore?
Appt. prices in Rohini area in Delhi have gone up from 1.3 Cr to 1.8 Cr this year. Out of this 1.8 Cr., not more than 40L is paid in white. Seems like businessmen are making millions just like our politicians. Paying 1.5 Cr in cash is same as paying 1 Cr in white (govt will take away the rest in taxes). How can a salaried person with all white income compete with these guys?

Anonymous said...

@Pawan,

People in India have money to buy outside India due to the RE bubble. Think about it this way, the bubble has caused a lot of people to feel wealthy and have a lot more money which has generated a lot of black money also. People are trying to park money in London, USA etc as RE prices are really cheap there now.

I would say these Indians buying abroad are smart as they are buying in UK/US at a dip and will see their investments increase dramatically in the next 10 years. They are selling some assets in India and buying abroad.

Anonymous said...

Selling in India at high prices and buying abroad at their low prices. Good strategy.

ShashankRao said...

I think the trend of buying property overseas will be short lived.
Most Indians do not know how the property taxes and maintenance of the property are carried out in the developed countries like US/UK.
They may not aware that individual is responsible for keeping the property clean as per the laws in the region else property would be confiscated by local muncipalty. Another important law Indians might not heard is the inheritance law. If Indians wants to give the property to their sons/daughetes, respective Govt would charge 35% tax on that transaction.

Personally I see most of the realty news publised in the TOI are planted news. Just to show the 'balanced' journalism , TOI sometime publishes news article favoring bears.

I would say not to read such articles to form any decisions.

Anonymous said...

Mr. Rao,
Thanks for your insight on it. I'm glad you are not like that idiot =>Said.

Anyway, RE/other assets in USA can be gifted to own kids in US upto $1million to each child in a lifetime. And there is no Estate Inheritance Tax upto $3.5million and any amount over that is taxed at 45%.

Except a few not many Indians have RE worth more than 3.5million USD abroad. So, be happy and keep investing abroad. There are many people from countries where RE has not crashed yet investing in US and UK. Many Aussies, Canadians, Indians, Brazilians and Chinese are buying RE heavily in US and that too all cash.

There are places in US selling houses for $1. That is Dollar One. Here is an example:
http://www.huffingtonpost.com/2008/08/19/1-detroit-house-sells-aft_n_119862.html

You are right about taxes and maintenance etc. But Indians are smart and have a lot of money now.
It is a rich country.

Anonymous said...

no one likes to live in detroit.

most people live in the suburbs of detroit.

price ranges from $150,000 to $400,000 for a 3000 sq foot house in the suburbs.

ShashankRao said...

Anony @1.02

You are right about inheritance tax details. What I meant in my comment was about a Gift tax.

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

I was talking about those Indinas who are buying overseas properties for investment. Funnily enough, rich NRIs in the USA are not buying property despite low rates here.

Honestly I would like to see many many rich Indians buying property in the USA. NRIs have already turned their back to Indian realty, now if rich Indians also join them, then it won't take a long to bust the realty bubble in Mumbai/India.

Anonymous said...

Pune, Hinjewadi: An acute shortage of free condoms is driving people in remote hamlets to wash and reuse the available varieties, and in the bargain, expose themselves to health problems. This scarcity could lead many users to indulge in unprotected sex, and even contract HIV/AIDS and other sexually transmitted diseases

Techies employed by the multinational companies are the main source of these discarded condoms. Development at the expense of Ghatis is no development at all. Shiva Sena should take notice of this and educate the poor desi liquor consuming ghatis

Anonymous said...

Brazil's and India's government yield curves are inverting, a condition in which short-term rates rise above longer yields. Historically, such an inversion almost invariably precedes a recession, as investors temporarily accept lower long rates in anticipation of the decline in yields that typically accompanies an economic downturn.

Also, China's economy is slowing quickly from its double-digit pace, as authorities there have adopted policy tightening measures.

So far this year, the MSCI Emerging Market equity index is down 0.6% after rising 16.4% in 2010 and jumping 74.5% in 2009.

Bernstein is not alone in his caution for Emerging Markets.

Anonymous said...

Indian and Brazil's yield curve inverted last week.

"If you look at inverted yield curves around the world, the most inverted yield curves are Greece, Ireland and Portugal, and then comes India and Brazil. There is your warning sign that no one is talking about," he said.

Inflation has been creeping up in Brazil and India, where the central bank is expected to raise its key interest rate to 12.25 after the close of market on Wednesday.

Bernstein said emerging market investors are putting a blind eye to the warning signals of a deep decline in emerging markets.

shailesh said...

I want to hear - Soft Landing.... What a concept....

Time to sell your house with realty prices peaking and a correction in the offing


Is it really a good time to cash in on your real estate investment? Yashwant Dalal , president of the Estate Agents Association of India, says that property prices in many markets have begun to show signs of correction. "We expect the prices to go down by 25-40% in metro cities, where the rates have peaked. If you had bought a house earlier solely as an investment, I would suggest that you sell as soon as you can and buy a similar property at cheaper rate later," says Dalal. According to him, property bought even three years ago may have appreciated nearly 100-150% in some areas, so it may be a good time to book profits.

Pankaj Kapoor, MD of Liases Foras , a real estate research firm, believes that if the prices fall, it could take two to three years before they return to the current level. "In the next couple of quarters, property prices could drop by 20% and then remain stagnant for the next two years," he says. A further hike in prices will impact property sales further. "In the previous quarter, we were expecting the prices to drop. However, they went up by 9% because of which there was a huge drop in sales," says Kapoor.

If you have decided to sell your house, do so before the monsoon sets in. "Many buyers don't buy houses during the monsoon. So, the best time to sell is during summers when people have time to spare as their children's schools are closed for vacation," says Dalal.

shailesh said...

Now, India does not have such a large issue as china, but may be smaller scale one. As I posted earlier, there are about large number of Malls under development, and for life of me, I can't understand why? There is small percentage that shop at mall, but not to extent that is being projected.

"Meaningful probability" of a China hard landing: Roubini

"There is a meaningful probability of a hard landing in China after 2013," he told a financial conference in Singapore.

Roubini said investment was already 50 percent of gross domestic product. Sixty years of data had shown that over- investment led to hard landings, he said, citing the Soviet Union in the 1960s and 70s, and East Asia before the 1997 financial crisis.

"I was recently in Shanghai and I took their high-speed train to Hangzhou," he said, referring to the new Maglev line that has cut traveling time between the two cities to less than an hour from four hours previously.

"The brand new high-speed train is half-empty and the brand new station is three-quarters empty. Parallel to that train line, there is a also a new highway that looked three-quarters empty. Next to the train station is also the new local airport of Shanghai and you can fly to Hangzhou," he said.

"There is no rationale for a country at that level of economic development to have not just duplication but triplication of those infrastructure projects."

shailesh said...

I guess this is heady mix of Business, Politics and Religion....

Narayanamurthy's son & Venu Srinivasan's daughter tie the knot

Bringing two of the country's top business families together, software major Infosys Chief Mentor N R Narayana Murthy's son Rohan today entered into wedlock with Lakshmi Venu of the TVS group.

The star-studded event was attended by senior BJP leader L K Advani, Union Ministers P Chidambaram, Kamal Nath, Anand Sharma and G K Vasan besides top corporate honchos.

About 100-150 priests from the hill shrine of Tirumala Tirupati Devasthanam rendered "sthothrams" to bless the couple.

Vik said...

Looks like high prices are impacting the bottomline of brokers :)as they are no buyers and sellers are adamant. What an unintended consequence. Brokers should be asking builders to lower rates instead of individual investors

==> said...

Looks like high prices are impacting the bottomline of brokers :)as they are no buyers and sellers are adamant. What an unintended consequence. Brokers should be asking builders to lower rates instead of individual investors

==> that is good news. Hope buyers are as or more adamant then sellers. But I don't think correction will ever come from builders or end-user-sellers as they asa cash rich. Correction will come from big time investors triggered by end-user-buyers.

skeptic's ghost said...

China is playing with fire - India with hot coals.
There is no safe way out for China as the prices and leverage is Government driven (govt has created dummy investment cos to boost prices) and the govt debt is roughly 3-4 trillion US$ (1/4th of China's trade surplus).
China has large pool of low wage workers who will never afford these US price homes and the Govt will have to write off any losses that occur with deflation/popping.

India is in a much better position as it has upward mobility in most non metro cities.

This is a dangerous cat and mouse game of the West and East deflating their currencies in tandem trying to make more in returns. This has caused job stagnation in West/Japan/AusNz and hyper inflation in the East and emerging markets.

In the end everything is pegged against Gold, Silver and precious metals. This game will go on until a catastrophic event (war/revolution/mega worldwide calamity)

Anonymous said...

@Skeptic:

Nothing is pegged against Gold. The world got off gold standards long back.

Gold is high because investors have lost faith in currencies. Once US raises interest rates, USD will strengthen and Gold will crash by 70%.

Anonymous said...

HeHeHe!!!

Nice comments on IT professionals, condoms, Gold, China, venu and srinivasan's son, I am sure some ghatis will use the condoms used by the couple if they happen to honeymoon at Hinjewadi.

Overall, nice funny blogs

Buy Property in Kurnool said...

I went to a property event in pune, where the rates of property where soaring and possession was after 2 years lol...is this the boom..or boon

ummed said...

jaypee Aman 2
is a big project of green in ncr Noida

Nimish said...

There is an interesting website which is forming a group for HInjewadi buyers to get a good rate.
http://www.groffr.com/sdealdetails.php?did=OTM=

IREO Gurgaon Hills said...

Keep it up man!

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