Please see my previous article about people in chennai and their classification based on salaries. That should tell about the different kinds of people in Chennai.
I have written a similar article in April of 2009 for Economy of Chennai - a reality check in 2009.
At any case - let us check the status now:
One major complaint in Chennai economy is there is no major manufacturing divisions started up. Anything started up recently are retail outlets, refined grocery outlets, service outlets of different companies, shops etc., which sell things, insurance, banking etc.,
Only when there are more than 70% manufacturing companies, then only there is a significant improvement in economy of Chennai. In fact, there is reduction in number of manufacturing companies. On those days, atleast Fenner was great. But there are countable ones - Fenner, TVS companies etc.,
Every individual who works thinks of a secondary income and gets the compulsion of starting off something by himself, while he does the day job. While this happens, they always end up doing only service stuff and they don't create anything.
It is always only a share of existing money in Chennai. Only when outside companies come into Chennai and invest and give employment opportunities to Chennai people then only we get the actual productivity of Chennai and improvement in economy of Chennai.
Anyway, overall - it is good for Chennai's entrepreneurs to grow with new thinking of starting something of their own.
There has to be big companies coming in and giving employment to 100s and 1000s of people in Chennai - then there would be some difference and impact in chennai economy. In fact, any government concentration is only on north and not in southern parts of tamil nadu. If they concentrate, then there would be significant contribution from Chennai and southern districts as well.
Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts
Monday, January 11, 2010
Economy of Chennai as of Jan 2010 - a reality check
Please see my previous article about people in chennai and their classification based on salaries. That should tell about the different kinds of people in Chennai.
I have written a similar article in April of 2009 for Economy of Chennai - a reality check in 2009.
At any case - let us check the status now:
One major complaint in Chennai economy is there is no major manufacturing divisions started up. Anything started up recently are retail outlets, refined grocery outlets, service outlets of different companies, shops etc., which sell things, insurance, banking etc.,
Only when there are more than 70% manufacturing companies, then only there is a significant improvement in economy of Chennai. In fact, there is reduction in number of manufacturing companies. On those days, atleast Fenner was great. But there are countable ones - Fenner, TVS companies etc.,
Every individual who works thinks of a secondary income and gets the compulsion of starting off something by himself, while he does the day job. While this happens, they always end up doing only service stuff and they don't create anything.
It is always only a share of existing money in Chennai. Only when outside companies come into Chennai and invest and give employment opportunities to Chennai people then only we get the actual productivity of Chennai and improvement in economy of Chennai.
Anyway, overall - it is good for Chennai's entrepreneurs to grow with new thinking of starting something of their own.
There has to be big companies coming in and giving employment to 100s and 1000s of people in Chennai - then there would be some difference and impact in chennai economy. In fact, any government concentration is only on north and not in southern parts of tamil nadu. If they concentrate, then there would be significant contribution from Chennai and southern districts as well.
I have written a similar article in April of 2009 for Economy of Chennai - a reality check in 2009.
At any case - let us check the status now:
One major complaint in Chennai economy is there is no major manufacturing divisions started up. Anything started up recently are retail outlets, refined grocery outlets, service outlets of different companies, shops etc., which sell things, insurance, banking etc.,
Only when there are more than 70% manufacturing companies, then only there is a significant improvement in economy of Chennai. In fact, there is reduction in number of manufacturing companies. On those days, atleast Fenner was great. But there are countable ones - Fenner, TVS companies etc.,
Every individual who works thinks of a secondary income and gets the compulsion of starting off something by himself, while he does the day job. While this happens, they always end up doing only service stuff and they don't create anything.
It is always only a share of existing money in Chennai. Only when outside companies come into Chennai and invest and give employment opportunities to Chennai people then only we get the actual productivity of Chennai and improvement in economy of Chennai.
Anyway, overall - it is good for Chennai's entrepreneurs to grow with new thinking of starting something of their own.
There has to be big companies coming in and giving employment to 100s and 1000s of people in Chennai - then there would be some difference and impact in chennai economy. In fact, any government concentration is only on north and not in southern parts of tamil nadu. If they concentrate, then there would be significant contribution from Chennai and southern districts as well.
Different Categories of Chennai People by Salaries - Economy of Chennai
I was talking to some of my friends in Chennai and corporate personnel in Chennai for the status of Chennai. Based on those discussions and interviews, here is my inference for Chennai Economy and reality check of the same.
I am not an economist, but just writing my thoughts and putting together my ideas on paper.
Let me classify working people of Chennai in different categories based on their salary.
1) Labour people, who work hard in the bottom of the society and get Rs.2500 per month or less.
2) Lower Middle class people, who earn between Rs.2500 to Rs.7000 per month. Families to feed three or more.
3) Middle class people, who earn between Rs.7000 to Rs.15000 per month.
4) Upper middle class people, who earn between Rs.15000 to Rs.25000 per month.
5) Rich people, who earn anything more than Rs.25000 per month.
The above could be one person to two person earning in a family, so it could be considered as household income. The problem is - people or families would come under my classification or vary time to time - based on the number of family members.
Say for example, a family increases by population and he stays with the same salary, then they slowly come down to a different classification of people in Chennai. Please note that this classification only applies to Chennai.
Ok, now we have classified people. Let us see what do they do -
1) Labour class does all the low level jobs like cleaning, mechanical work, very very hardworking, sweeping, house work etc.,
2) Lower middle class would be two people earning and doing the same work as above labour class. This category is also hard working and lot of manual work job.
3) Middle class is more of people working in offices, clerks and sit and do jobs, accountants etc.,
4) Upper middle class is more of banking, insurance, service, retail and education, teaching, some IT or ITeS related folks.
5) Rich people are more of corporate people, any kind of business men and women, politicians, specifically IT people and at last thugs, who live on interest (finance).
I am not an economist, but just writing my thoughts and putting together my ideas on paper.
Let me classify working people of Chennai in different categories based on their salary.
1) Labour people, who work hard in the bottom of the society and get Rs.2500 per month or less.
2) Lower Middle class people, who earn between Rs.2500 to Rs.7000 per month. Families to feed three or more.
3) Middle class people, who earn between Rs.7000 to Rs.15000 per month.
4) Upper middle class people, who earn between Rs.15000 to Rs.25000 per month.
5) Rich people, who earn anything more than Rs.25000 per month.
The above could be one person to two person earning in a family, so it could be considered as household income. The problem is - people or families would come under my classification or vary time to time - based on the number of family members.
Say for example, a family increases by population and he stays with the same salary, then they slowly come down to a different classification of people in Chennai. Please note that this classification only applies to Chennai.
Ok, now we have classified people. Let us see what do they do -
1) Labour class does all the low level jobs like cleaning, mechanical work, very very hardworking, sweeping, house work etc.,
2) Lower middle class would be two people earning and doing the same work as above labour class. This category is also hard working and lot of manual work job.
3) Middle class is more of people working in offices, clerks and sit and do jobs, accountants etc.,
4) Upper middle class is more of banking, insurance, service, retail and education, teaching, some IT or ITeS related folks.
5) Rich people are more of corporate people, any kind of business men and women, politicians, specifically IT people and at last thugs, who live on interest (finance).
Different Categories of Chennai People by Salaries - Economy of Chennai
I was talking to some of my friends in Chennai and corporate personnel in Chennai for the status of Chennai. Based on those discussions and interviews, here is my inference for Chennai Economy and reality check of the same.
I am not an economist, but just writing my thoughts and putting together my ideas on paper.
Let me classify working people of Chennai in different categories based on their salary.
1) Labour people, who work hard in the bottom of the society and get Rs.2500 per month or less.
2) Lower Middle class people, who earn between Rs.2500 to Rs.7000 per month. Families to feed three or more.
3) Middle class people, who earn between Rs.7000 to Rs.15000 per month.
4) Upper middle class people, who earn between Rs.15000 to Rs.25000 per month.
5) Rich people, who earn anything more than Rs.25000 per month.
The above could be one person to two person earning in a family, so it could be considered as household income. The problem is - people or families would come under my classification or vary time to time - based on the number of family members.
Say for example, a family increases by population and he stays with the same salary, then they slowly come down to a different classification of people in Chennai. Please note that this classification only applies to Chennai.
Ok, now we have classified people. Let us see what do they do -
1) Labour class does all the low level jobs like cleaning, mechanical work, very very hardworking, sweeping, house work etc.,
2) Lower middle class would be two people earning and doing the same work as above labour class. This category is also hard working and lot of manual work job.
3) Middle class is more of people working in offices, clerks and sit and do jobs, accountants etc.,
4) Upper middle class is more of banking, insurance, service, retail and education, teaching, some IT or ITeS related folks.
5) Rich people are more of corporate people, any kind of business men and women, politicians, specifically IT people and at last thugs, who live on interest (finance).
I am not an economist, but just writing my thoughts and putting together my ideas on paper.
Let me classify working people of Chennai in different categories based on their salary.
1) Labour people, who work hard in the bottom of the society and get Rs.2500 per month or less.
2) Lower Middle class people, who earn between Rs.2500 to Rs.7000 per month. Families to feed three or more.
3) Middle class people, who earn between Rs.7000 to Rs.15000 per month.
4) Upper middle class people, who earn between Rs.15000 to Rs.25000 per month.
5) Rich people, who earn anything more than Rs.25000 per month.
The above could be one person to two person earning in a family, so it could be considered as household income. The problem is - people or families would come under my classification or vary time to time - based on the number of family members.
Say for example, a family increases by population and he stays with the same salary, then they slowly come down to a different classification of people in Chennai. Please note that this classification only applies to Chennai.
Ok, now we have classified people. Let us see what do they do -
1) Labour class does all the low level jobs like cleaning, mechanical work, very very hardworking, sweeping, house work etc.,
2) Lower middle class would be two people earning and doing the same work as above labour class. This category is also hard working and lot of manual work job.
3) Middle class is more of people working in offices, clerks and sit and do jobs, accountants etc.,
4) Upper middle class is more of banking, insurance, service, retail and education, teaching, some IT or ITeS related folks.
5) Rich people are more of corporate people, any kind of business men and women, politicians, specifically IT people and at last thugs, who live on interest (finance).
Friday, April 10, 2009
Chennai - a reality check - Chennai Economy Trend - April 2009
I was talking to some experts working in corporates in Chennai to see what is the trend going on.
Overall, it seems to be bleak in terms of economy across all the industries, due to global recession.
Since the banking and insurance are not doing well, there is obviously downward trend in Information Technology. All of the Loans and majority of the Projects comes from Banking and Insurance industry to IT - hence it seems be a dull market for now.
Industries in Chennai are scaling down. Both in terms of cost and also willing to close down industries, when the unit does not make profit.
Auto industry, Mobil retail and FMCG are all suffering.
Another new trend in Chennai is - all the corporate retail shops like Reliance Fresh, Mobile outlets etc., are renegotiating the rent with the land lords and delaying the rent payment overall with the landlords. Even they are threatening that they would not vacate, if they don't reduce the rent of the property. The retail units have promised on a rent in boom period and now they are trying to reduce it.
About unemployment - People are trying to stay in the jobs, wherever they are. Employers are cutting salaries and laying off. Even the salaries are paid delayed. No questions asked!
Companies recruiting in campus, has not sent joining letters , including corporate companies. This leads to more unemployment. My advice for these unemployed - go and do higher studies until the economy comes back.
Anyway, overall things seems to be down. Hopefully market would recover globally and we will prosper soon!
Having said all these - as always politicians, cinema executives/actors, some corporate businessmen, illegal businessmen and criminals do not have anything less!!
Chennai - a reality check - Chennai Economy Trend - April 2009
I was talking to some experts working in corporates in Chennai to see what is the trend going on.
Overall, it seems to be bleak in terms of economy across all the industries, due to global recession.
Since the banking and insurance are not doing well, there is obviously downward trend in Information Technology. All of the Loans and majority of the Projects comes from Banking and Insurance industry to IT - hence it seems be a dull market for now.
Industries in Chennai are scaling down. Both in terms of cost and also willing to close down industries, when the unit does not make profit.
Auto industry, Mobil retail and FMCG are all suffering.
Another new trend in Chennai is - all the corporate retail shops like Reliance Fresh, Mobile outlets etc., are renegotiating the rent with the land lords and delaying the rent payment overall with the landlords. Even they are threatening that they would not vacate, if they don't reduce the rent of the property. The retail units have promised on a rent in boom period and now they are trying to reduce it.
About unemployment - People are trying to stay in the jobs, wherever they are. Employers are cutting salaries and laying off. Even the salaries are paid delayed. No questions asked!
Companies recruiting in campus, has not sent joining letters , including corporate companies. This leads to more unemployment. My advice for these unemployed - go and do higher studies until the economy comes back.
Anyway, overall things seems to be down. Hopefully market would recover globally and we will prosper soon!
Having said all these - as always politicians, cinema executives/actors, some corporate businessmen, illegal businessmen and criminals do not have anything less!!
Saturday, January 10, 2009
non-IT folks in Chennai
There is always an opinion that IT and ITeS people earn more than required/average in their jobs and they make lot of money. This has been the situation compared to other jobs from the time IT came into popularity.
All non-computer science graduates, bank employees, B.Com graduates, B. Sc graduates, mechanical engineers, only school educated people - everyone, irrespective of their education, they all moved to IT and ITeS(Software) companies for jobs.
As it is generally considered, in an economy all the sectors has to grow. But, that was not the case in our economy. Software and BPO sectors were growing too fast, but other industries did not see that much growth.
Considering the current situation of the IT economy -
1) Global Economy slowdown
2) IT Services Major Satyam in deep trouble
3) Job loss and Unemployment increasing
These things happen in services industry. Non-IT people, who have not come into IT in their lifetime, would sadistically like this situation because this is not a great situation for IT, while IT folks has been showing off a lot during their good times.
People think about only IT and related and not other industries at all, in terms of education or even jobs or investment.
For example, if a parent wants to enroll his son/daughter into the college, they choose only IT or IT related courses. This is not good for the economy. The choice has to be varied and not just concentrated on one field. That is not good for the economy.
There is a similar situation in Sports in India. Everyone like Cricket and media covers only Cricket news. There are n number of sports in the world, but we don't care about it and it is not healthy at all. This is not good either.
Whenever is a problem realized, there is always solution following it. So, hopefully this wave of IT slowdown will bring some solution, I believe.
Thank you for listening.
All non-computer science graduates, bank employees, B.Com graduates, B. Sc graduates, mechanical engineers, only school educated people - everyone, irrespective of their education, they all moved to IT and ITeS(Software) companies for jobs.
As it is generally considered, in an economy all the sectors has to grow. But, that was not the case in our economy. Software and BPO sectors were growing too fast, but other industries did not see that much growth.
Considering the current situation of the IT economy -
1) Global Economy slowdown
2) IT Services Major Satyam in deep trouble
3) Job loss and Unemployment increasing
These things happen in services industry. Non-IT people, who have not come into IT in their lifetime, would sadistically like this situation because this is not a great situation for IT, while IT folks has been showing off a lot during their good times.
People think about only IT and related and not other industries at all, in terms of education or even jobs or investment.
For example, if a parent wants to enroll his son/daughter into the college, they choose only IT or IT related courses. This is not good for the economy. The choice has to be varied and not just concentrated on one field. That is not good for the economy.
There is a similar situation in Sports in India. Everyone like Cricket and media covers only Cricket news. There are n number of sports in the world, but we don't care about it and it is not healthy at all. This is not good either.
Whenever is a problem realized, there is always solution following it. So, hopefully this wave of IT slowdown will bring some solution, I believe.
Thank you for listening.
non-IT folks in Chennai
There is always an opinion that IT and ITeS people earn more than required/average in their jobs and they make lot of money. This has been the situation compared to other jobs from the time IT came into popularity.
All non-computer science graduates, bank employees, B.Com graduates, B. Sc graduates, mechanical engineers, only school educated people - everyone, irrespective of their education, they all moved to IT and ITeS(Software) companies for jobs.
As it is generally considered, in an economy all the sectors has to grow. But, that was not the case in our economy. Software and BPO sectors were growing too fast, but other industries did not see that much growth.
Considering the current situation of the IT economy -
1) Global Economy slowdown
2) IT Services Major Satyam in deep trouble
3) Job loss and Unemployment increasing
These things happen in services industry. Non-IT people, who have not come into IT in their lifetime, would sadistically like this situation because this is not a great situation for IT, while IT folks has been showing off a lot during their good times.
People think about only IT and related and not other industries at all, in terms of education or even jobs or investment.
For example, if a parent wants to enroll his son/daughter into the college, they choose only IT or IT related courses. This is not good for the economy. The choice has to be varied and not just concentrated on one field. That is not good for the economy.
There is a similar situation in Sports in India. Everyone like Cricket and media covers only Cricket news. There are n number of sports in the world, but we don't care about it and it is not healthy at all. This is not good either.
Whenever is a problem realized, there is always solution following it. So, hopefully this wave of IT slowdown will bring some solution, I believe.
Thank you for listening.
All non-computer science graduates, bank employees, B.Com graduates, B. Sc graduates, mechanical engineers, only school educated people - everyone, irrespective of their education, they all moved to IT and ITeS(Software) companies for jobs.
As it is generally considered, in an economy all the sectors has to grow. But, that was not the case in our economy. Software and BPO sectors were growing too fast, but other industries did not see that much growth.
Considering the current situation of the IT economy -
1) Global Economy slowdown
2) IT Services Major Satyam in deep trouble
3) Job loss and Unemployment increasing
These things happen in services industry. Non-IT people, who have not come into IT in their lifetime, would sadistically like this situation because this is not a great situation for IT, while IT folks has been showing off a lot during their good times.
People think about only IT and related and not other industries at all, in terms of education or even jobs or investment.
For example, if a parent wants to enroll his son/daughter into the college, they choose only IT or IT related courses. This is not good for the economy. The choice has to be varied and not just concentrated on one field. That is not good for the economy.
There is a similar situation in Sports in India. Everyone like Cricket and media covers only Cricket news. There are n number of sports in the world, but we don't care about it and it is not healthy at all. This is not good either.
Whenever is a problem realized, there is always solution following it. So, hopefully this wave of IT slowdown will bring some solution, I believe.
Thank you for listening.
Friday, December 19, 2008
Elderly People and Senior Citizen's productivity in Chennai
People wait for the age of 58 and retire from them work, once they are 58 or 60.
After that, senior citizens...
Privileges in train tickets; will have tax reduction and/or wherever they go they get advantage.
However, I believe there are much more things, which can be done by them. In foreign countries the elderly people and senior citizens are much more productive and independent in their life.
They generate money and produce something or other.
For example, McDonalds was founded and built by the Ray Kroc in his late 50s.
KFC(Kentucky Fried Chicken) was founded by Harland Sanders in his 60s.
Our senior citizens should try to be healthy and be productive than what they are doing right now, I believe.
The same advice goes to this generation also - in terms of health and productivity.
After that, senior citizens...
Privileges in train tickets; will have tax reduction and/or wherever they go they get advantage.
However, I believe there are much more things, which can be done by them. In foreign countries the elderly people and senior citizens are much more productive and independent in their life.
They generate money and produce something or other.
For example, McDonalds was founded and built by the Ray Kroc in his late 50s.
KFC(Kentucky Fried Chicken) was founded by Harland Sanders in his 60s.
Our senior citizens should try to be healthy and be productive than what they are doing right now, I believe.
The same advice goes to this generation also - in terms of health and productivity.
Elderly People and Senior Citizen's productivity in Chennai
People wait for the age of 58 and retire from them work, once they are 58 or 60.
After that, senior citizens...
Privileges in train tickets; will have tax reduction and/or wherever they go they get advantage.
However, I believe there are much more things, which can be done by them. In foreign countries the elderly people and senior citizens are much more productive and independent in their life.
They generate money and produce something or other.
For example, McDonalds was founded and built by the Ray Kroc in his late 50s.
KFC(Kentucky Fried Chicken) was founded by Harland Sanders in his 60s.
Our senior citizens should try to be healthy and be productive than what they are doing right now, I believe.
The same advice goes to this generation also - in terms of health and productivity.
After that, senior citizens...
Privileges in train tickets; will have tax reduction and/or wherever they go they get advantage.
However, I believe there are much more things, which can be done by them. In foreign countries the elderly people and senior citizens are much more productive and independent in their life.
They generate money and produce something or other.
For example, McDonalds was founded and built by the Ray Kroc in his late 50s.
KFC(Kentucky Fried Chicken) was founded by Harland Sanders in his 60s.
Our senior citizens should try to be healthy and be productive than what they are doing right now, I believe.
The same advice goes to this generation also - in terms of health and productivity.
Thursday, September 4, 2008
Market is terrible!
Market is terrible and not treating me very well.
While I was searching a job, during a well-market, there were less screening of candidates. The evaluation process was not in that depth and it was easy.
But now, I could realize the pressure and stringent evaluation processes.
There are lesser openings and those openings are tightened with couple of layers of evaluation.
There is more supply and lesser demand, which makes the market non-co-operative to job seekers. There are very easy rejections! There are more people out in the market and employers are having lesser business.
Management drives the recruitment and the recruitment managers cannot make any mistake in recruitment. Since there are more job seekers and lesser demand for job, employers are able to find people easy, with stringent procedures.
Everyone is sticking to their job as of now and keeping the boat going. Business is generally dull for the employer as well. So, there is no chance of asking for hike/bonus etc., Whoever is in job, has to just hang on to where they are.
Overall, it sucks!!
While I was searching a job, during a well-market, there were less screening of candidates. The evaluation process was not in that depth and it was easy.
But now, I could realize the pressure and stringent evaluation processes.
There are lesser openings and those openings are tightened with couple of layers of evaluation.
There is more supply and lesser demand, which makes the market non-co-operative to job seekers. There are very easy rejections! There are more people out in the market and employers are having lesser business.
Management drives the recruitment and the recruitment managers cannot make any mistake in recruitment. Since there are more job seekers and lesser demand for job, employers are able to find people easy, with stringent procedures.
Everyone is sticking to their job as of now and keeping the boat going. Business is generally dull for the employer as well. So, there is no chance of asking for hike/bonus etc., Whoever is in job, has to just hang on to where they are.
Overall, it sucks!!
Market is terrible!
Market is terrible and not treating me very well.
While I was searching a job, during a well-market, there were less screening of candidates. The evaluation process was not in that depth and it was easy.
But now, I could realize the pressure and stringent evaluation processes.
There are lesser openings and those openings are tightened with couple of layers of evaluation.
There is more supply and lesser demand, which makes the market non-co-operative to job seekers. There are very easy rejections! There are more people out in the market and employers are having lesser business.
Management drives the recruitment and the recruitment managers cannot make any mistake in recruitment. Since there are more job seekers and lesser demand for job, employers are able to find people easy, with stringent procedures.
Everyone is sticking to their job as of now and keeping the boat going. Business is generally dull for the employer as well. So, there is no chance of asking for hike/bonus etc., Whoever is in job, has to just hang on to where they are.
Overall, it sucks!!
While I was searching a job, during a well-market, there were less screening of candidates. The evaluation process was not in that depth and it was easy.
But now, I could realize the pressure and stringent evaluation processes.
There are lesser openings and those openings are tightened with couple of layers of evaluation.
There is more supply and lesser demand, which makes the market non-co-operative to job seekers. There are very easy rejections! There are more people out in the market and employers are having lesser business.
Management drives the recruitment and the recruitment managers cannot make any mistake in recruitment. Since there are more job seekers and lesser demand for job, employers are able to find people easy, with stringent procedures.
Everyone is sticking to their job as of now and keeping the boat going. Business is generally dull for the employer as well. So, there is no chance of asking for hike/bonus etc., Whoever is in job, has to just hang on to where they are.
Overall, it sucks!!
Tuesday, September 2, 2008
Feeling the Macroeconomy disturbance - World Economy - not just about Chennai
When there was dot com burst in 2000, and during/after September 11 attacks in USA, there was a huge market recession due to heavy losses and improper business models, I had to feel the macro-economy disturbance.
When there is a disturbance at a macro-economy level, there is a disturbance in micro-economy level too. In 2001, we suffered out of no money. No one worked in my family, except my mother! Mother was working, one brother was studying, another brother was searching for a job and I was downsized from the company! I guess you are getting the financial picture of my family. It sucked!!
Now, there a sub-prime mortgage crisis, US real markets fall, banks fail or slow down and my life sucks. I am always on the edge of my life. Does it happen to everyone? Or is it just me?!
Is it my mistake of being jack of many, rather than a master of one?!
Inflation of >12% in India...oil prices rise...shares sink...
Need some life and break guys!! I hope everything will come up back.
Everyone in family is supportive, but need change sooner.
I hope after elections, things will change.
When there is a disturbance at a macro-economy level, there is a disturbance in micro-economy level too. In 2001, we suffered out of no money. No one worked in my family, except my mother! Mother was working, one brother was studying, another brother was searching for a job and I was downsized from the company! I guess you are getting the financial picture of my family. It sucked!!
Now, there a sub-prime mortgage crisis, US real markets fall, banks fail or slow down and my life sucks. I am always on the edge of my life. Does it happen to everyone? Or is it just me?!
Is it my mistake of being jack of many, rather than a master of one?!
Inflation of >12% in India...oil prices rise...shares sink...
Need some life and break guys!! I hope everything will come up back.
Everyone in family is supportive, but need change sooner.
I hope after elections, things will change.
Feeling the Macroeconomy disturbance - World Economy - not just about Chennai
When there was dot com burst in 2000, and during/after September 11 attacks in USA, there was a huge market recession due to heavy losses and improper business models, I had to feel the macro-economy disturbance.
When there is a disturbance at a macro-economy level, there is a disturbance in micro-economy level too. In 2001, we suffered out of no money. No one worked in my family, except my mother! Mother was working, one brother was studying, another brother was searching for a job and I was downsized from the company! I guess you are getting the financial picture of my family. It sucked!!
Now, there a sub-prime mortgage crisis, US real markets fall, banks fail or slow down and my life sucks. I am always on the edge of my life. Does it happen to everyone? Or is it just me?!
Is it my mistake of being jack of many, rather than a master of one?!
Inflation of >12% in India...oil prices rise...shares sink...
Need some life and break guys!! I hope everything will come up back.
Everyone in family is supportive, but need change sooner.
I hope after elections, things will change.
When there is a disturbance at a macro-economy level, there is a disturbance in micro-economy level too. In 2001, we suffered out of no money. No one worked in my family, except my mother! Mother was working, one brother was studying, another brother was searching for a job and I was downsized from the company! I guess you are getting the financial picture of my family. It sucked!!
Now, there a sub-prime mortgage crisis, US real markets fall, banks fail or slow down and my life sucks. I am always on the edge of my life. Does it happen to everyone? Or is it just me?!
Is it my mistake of being jack of many, rather than a master of one?!
Inflation of >12% in India...oil prices rise...shares sink...
Need some life and break guys!! I hope everything will come up back.
Everyone in family is supportive, but need change sooner.
I hope after elections, things will change.
Wednesday, April 23, 2008
Real Estate Status in Chennai, Chennai and India
Sponsored by OruAcre.com
Real Estate Status in Chennai, Chennai and India
Sponsored by Sun City - Real Estate Agent, Chennai
In most parts of Chennai, apartments in new complexes cost between Rs 70 lakh to Rs 1 crore. As for adjoining suburbs, prices are in the range of Rs 40 lakh to Rs 50 lakh.
For instance, ongoing projects on the Chennai Highway are priced at Rs 45 lakh and above.
Consider the economics. To buy a flat worth Rs 50 lakh, a salaried employee would have to pay Rs 7.5 lakh upfront and an equated monthly instalment (EMI) of Rs 50,000 to service the balance Rs 42.5 lakh home loan over the next 20 years. Going by bank eligibility norms, he or she would need a salary of Rs 1 lakh per month to obtain a loan to pay such a high EMI. Obviously, those with such high salaries are few in number and on the highest rung of the corporate ladder.
It is getting tougher and tougher to buy a property in India. Normal people cannot afford a property in Chennai, Chennai and India.
There is nothing we can do, while the economy and markets takes its own course.
Real Estate Status in Chennai, Chennai and India
Sponsored by Sun City - Real Estate Agent, Chennai
In most parts of Chennai, apartments in new complexes cost between Rs 70 lakh to Rs 1 crore. As for adjoining suburbs, prices are in the range of Rs 40 lakh to Rs 50 lakh.
For instance, ongoing projects on the Chennai Highway are priced at Rs 45 lakh and above.
Consider the economics. To buy a flat worth Rs 50 lakh, a salaried employee would have to pay Rs 7.5 lakh upfront and an equated monthly instalment (EMI) of Rs 50,000 to service the balance Rs 42.5 lakh home loan over the next 20 years. Going by bank eligibility norms, he or she would need a salary of Rs 1 lakh per month to obtain a loan to pay such a high EMI. Obviously, those with such high salaries are few in number and on the highest rung of the corporate ladder.
It is getting tougher and tougher to buy a property in India. Normal people cannot afford a property in Chennai, Chennai and India.
There is nothing we can do, while the economy and markets takes its own course.
Real Estate Status in Chennai, Chennai and India
Sponsored by OruAcre.com
Real Estate Status in Chennai, Chennai and India
Sponsored by Sun City - Real Estate Agent, Chennai
In most parts of Chennai, apartments in new complexes cost between Rs 70 lakh to Rs 1 crore. As for adjoining suburbs, prices are in the range of Rs 40 lakh to Rs 50 lakh.
For instance, ongoing projects on the Chennai Highway are priced at Rs 45 lakh and above.
Consider the economics. To buy a flat worth Rs 50 lakh, a salaried employee would have to pay Rs 7.5 lakh upfront and an equated monthly instalment (EMI) of Rs 50,000 to service the balance Rs 42.5 lakh home loan over the next 20 years. Going by bank eligibility norms, he or she would need a salary of Rs 1 lakh per month to obtain a loan to pay such a high EMI. Obviously, those with such high salaries are few in number and on the highest rung of the corporate ladder.
It is getting tougher and tougher to buy a property in India. Normal people cannot afford a property in Chennai, Chennai and India.
There is nothing we can do, while the economy and markets takes its own course.
Real Estate Status in Chennai, Chennai and India
Sponsored by Sun City - Real Estate Agent, Chennai
In most parts of Chennai, apartments in new complexes cost between Rs 70 lakh to Rs 1 crore. As for adjoining suburbs, prices are in the range of Rs 40 lakh to Rs 50 lakh.
For instance, ongoing projects on the Chennai Highway are priced at Rs 45 lakh and above.
Consider the economics. To buy a flat worth Rs 50 lakh, a salaried employee would have to pay Rs 7.5 lakh upfront and an equated monthly instalment (EMI) of Rs 50,000 to service the balance Rs 42.5 lakh home loan over the next 20 years. Going by bank eligibility norms, he or she would need a salary of Rs 1 lakh per month to obtain a loan to pay such a high EMI. Obviously, those with such high salaries are few in number and on the highest rung of the corporate ladder.
It is getting tougher and tougher to buy a property in India. Normal people cannot afford a property in Chennai, Chennai and India.
There is nothing we can do, while the economy and markets takes its own course.
Monday, March 31, 2008
What does global IT slowdown mean for Chennai?
Sponsored by OruAcre.com
What does global IT slowdown mean for Chennai?
We are hearing news all over about IT slowdown happenning in US. The reason - Financial institutions are affected due to real estate being down in USA. Many foreclosures and lot many issues related to real estate going in USA. Since Financial market is suffering IT suffers too.
On the other hand, we are happily talking about IT park in Chennai. Is that OK to be happy about it?! Answer is YES. Here is some analysis....
Any major change as a result of happenings across the world would happen in one or two quarters. The global effect on financial services will affect other sectors like IT, including retail.
However, new industries like airline are opening up and will spend more on IT. The Indian market is also expanding for IT services. Say for example - Wipro, 18-20 per cent of revenues come from the domestic business. This will only grow faster.
Chennai IT Park is something provisioned by the government with proper infrastructure improvements like international airport in chennai, road and rail infrastructure improvements in chennai. Government has elected ELCOT to do all the work related to IT Park in Chennai.
Now, once the IT park is built, all the IT companies would wish to have their centre in second tier city like Chennai for sure. The reason is it will be much cheaper to operate from a second tier city like Chennai, assuming the infrastructure improvements.
IT slowdown is usually temporary and this time also it is temporary. Financial industry is stronger in USA and it will come back to normal and it will go up more. Considering the fact that the government is changing in US, things would change globally too, since there would global policy changes. These disturbances in the market are normal and we have to get tied to the wave and come back to normal sooner.
As we grow as human beings, we always need IT and related industries to run and serve.
Hence, Chennai IT Park is good to go.
What does global IT slowdown mean for Chennai?
We are hearing news all over about IT slowdown happenning in US. The reason - Financial institutions are affected due to real estate being down in USA. Many foreclosures and lot many issues related to real estate going in USA. Since Financial market is suffering IT suffers too.
On the other hand, we are happily talking about IT park in Chennai. Is that OK to be happy about it?! Answer is YES. Here is some analysis....
Any major change as a result of happenings across the world would happen in one or two quarters. The global effect on financial services will affect other sectors like IT, including retail.
However, new industries like airline are opening up and will spend more on IT. The Indian market is also expanding for IT services. Say for example - Wipro, 18-20 per cent of revenues come from the domestic business. This will only grow faster.
Chennai IT Park is something provisioned by the government with proper infrastructure improvements like international airport in chennai, road and rail infrastructure improvements in chennai. Government has elected ELCOT to do all the work related to IT Park in Chennai.
Now, once the IT park is built, all the IT companies would wish to have their centre in second tier city like Chennai for sure. The reason is it will be much cheaper to operate from a second tier city like Chennai, assuming the infrastructure improvements.
IT slowdown is usually temporary and this time also it is temporary. Financial industry is stronger in USA and it will come back to normal and it will go up more. Considering the fact that the government is changing in US, things would change globally too, since there would global policy changes. These disturbances in the market are normal and we have to get tied to the wave and come back to normal sooner.
As we grow as human beings, we always need IT and related industries to run and serve.
Hence, Chennai IT Park is good to go.
What does global IT slowdown mean for Chennai?
Sponsored by OruAcre.com
What does global IT slowdown mean for Chennai?
We are hearing news all over about IT slowdown happenning in US. The reason - Financial institutions are affected due to real estate being down in USA. Many foreclosures and lot many issues related to real estate going in USA. Since Financial market is suffering IT suffers too.
On the other hand, we are happily talking about IT park in Chennai. Is that OK to be happy about it?! Answer is YES. Here is some analysis....
Any major change as a result of happenings across the world would happen in one or two quarters. The global effect on financial services will affect other sectors like IT, including retail.
However, new industries like airline are opening up and will spend more on IT. The Indian market is also expanding for IT services. Say for example - Wipro, 18-20 per cent of revenues come from the domestic business. This will only grow faster.
Chennai IT Park is something provisioned by the government with proper infrastructure improvements like international airport in chennai, road and rail infrastructure improvements in chennai. Government has elected ELCOT to do all the work related to IT Park in Chennai.
Now, once the IT park is built, all the IT companies would wish to have their centre in second tier city like Chennai for sure. The reason is it will be much cheaper to operate from a second tier city like Chennai, assuming the infrastructure improvements.
IT slowdown is usually temporary and this time also it is temporary. Financial industry is stronger in USA and it will come back to normal and it will go up more. Considering the fact that the government is changing in US, things would change globally too, since there would global policy changes. These disturbances in the market are normal and we have to get tied to the wave and come back to normal sooner.
As we grow as human beings, we always need IT and related industries to run and serve.
Hence, Chennai IT Park is good to go.
What does global IT slowdown mean for Chennai?
We are hearing news all over about IT slowdown happenning in US. The reason - Financial institutions are affected due to real estate being down in USA. Many foreclosures and lot many issues related to real estate going in USA. Since Financial market is suffering IT suffers too.
On the other hand, we are happily talking about IT park in Chennai. Is that OK to be happy about it?! Answer is YES. Here is some analysis....
Any major change as a result of happenings across the world would happen in one or two quarters. The global effect on financial services will affect other sectors like IT, including retail.
However, new industries like airline are opening up and will spend more on IT. The Indian market is also expanding for IT services. Say for example - Wipro, 18-20 per cent of revenues come from the domestic business. This will only grow faster.
Chennai IT Park is something provisioned by the government with proper infrastructure improvements like international airport in chennai, road and rail infrastructure improvements in chennai. Government has elected ELCOT to do all the work related to IT Park in Chennai.
Now, once the IT park is built, all the IT companies would wish to have their centre in second tier city like Chennai for sure. The reason is it will be much cheaper to operate from a second tier city like Chennai, assuming the infrastructure improvements.
IT slowdown is usually temporary and this time also it is temporary. Financial industry is stronger in USA and it will come back to normal and it will go up more. Considering the fact that the government is changing in US, things would change globally too, since there would global policy changes. These disturbances in the market are normal and we have to get tied to the wave and come back to normal sooner.
As we grow as human beings, we always need IT and related industries to run and serve.
Hence, Chennai IT Park is good to go.
Saturday, March 29, 2008
Chennai district getting more funds than previous years
Chennai district getting more funds than previous years
The annual credit plan for agriculture and allies activities for the chennai district this year has been increased to Rs.898.24 crore as against Rs.749.45 crore last year.
The outlay to the total priority sector of Chennai District had been increased by Rs.255.04 crore and fixed at Rs.1480.70 crore, according to the document released by Chennai District Collector S.S.Jawahar.
Read more
Chennai Directory
The annual credit plan for agriculture and allies activities for the chennai district this year has been increased to Rs.898.24 crore as against Rs.749.45 crore last year.
The outlay to the total priority sector of Chennai District had been increased by Rs.255.04 crore and fixed at Rs.1480.70 crore, according to the document released by Chennai District Collector S.S.Jawahar.
Read more
Chennai Directory
Chennai district getting more funds than previous years
Chennai district getting more funds than previous years
The annual credit plan for agriculture and allies activities for the chennai district this year has been increased to Rs.898.24 crore as against Rs.749.45 crore last year.
The outlay to the total priority sector of Chennai District had been increased by Rs.255.04 crore and fixed at Rs.1480.70 crore, according to the document released by Chennai District Collector S.S.Jawahar.
Read more
Chennai Directory
The annual credit plan for agriculture and allies activities for the chennai district this year has been increased to Rs.898.24 crore as against Rs.749.45 crore last year.
The outlay to the total priority sector of Chennai District had been increased by Rs.255.04 crore and fixed at Rs.1480.70 crore, according to the document released by Chennai District Collector S.S.Jawahar.
Read more
Chennai Directory
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