Tag: kharcha paani

Categories
Kharcha paani

Less shopping for Mumbai this year?

Survey says that the economic slowdown, job uncertainties and high interest rates are likely to dampen festive shopping this year.
by The Editors | editor@themetrognome.in

This Diwali, there is every chance of shopping malls in the city doing really thanda business. Shopping malls, which are already suffering from relatively less footfalls, are expected to see a sharp decline of 35 to 40 per cent in footfalls in the ongoing festive season as the economic slowdown, high interest and job uncertainties have dampened the shopping spirit this year. This was revealed by an ASSOCHAM (Associated Chambers of Commerce and Industry) survey.

The survey, titled ‘Shopping malls fail to draw footfalls this festive season’ indicated that economic slowdown, galloping inflation and interest rates have upset the festival shopping plans of all the consumers this festive season. The ASSOCHAM team interacted with about 650 leasing managers, representatives of malls’ management, strategists, marketers and supervisors in Mumbai, Delhi-NCR, Ahemdabad, Chennai, Kolkata, Hyderabad, Chennai, Bangalore, Chandigarh and Dehradun. However, Mumbai’s shopping spirit was found to be better than that of Delhiites (33 per cent), Ahmedabad (31), Chennai (30), and Hyderabad (27).

less diwali shopping this year?Commenting on the trend, DS Rawat, Secretary General, ASSOCHAM said, “The trend is on expected lines as the economic recovery is rather slow and consumer confidence is low.”

As per the ASSOCHAM estimates, roughly 250 to 300 malls came up in the country over the last two years but 70 to 80 per cent of the spaces in these malls lie vacant. The economic slowdown has landed especially heavily on the shopping malls. The survey further reveals that the slowdown, job cuts and devaluation of the rupee against the dollar is also making imported raw material and finished goods costlier. It will also impact consumer spending in a significant way. The currency fluctuation is a major challenge for the consumer electronics industry because imported consignments come at a higher cost. The dinnerware and cookware companies have already started offering attractive offers and discounts to boost sales, adds the survey.

More than 47 per cent of the total mall space in nine cities is vacant, the survey found.  Delhi-NCR tops the list with 55 per cent of malls being vacant, followed by Mumbai at 52 per cent, Ahmedabad at 51 per cent and Chennai at 50 per cent. In order to lure retailers, many developers started giving rent-free period for up to six months for big brands.

While some malls are operating at 60 per cent occupancy, others are struggling with less than 20 per cent. “Vacancy levels are due to poor location, poor design and poor parking facilities while some are operating at 60 per cent occupancy,” the survey said. The industry is also facing problems like multiple taxes, lack of clarity in policies and shortage of experts in areas such as supply chain and store management.

Both retailers and consultants seem convinced that the mall magic seems to have disappeared in a puff of smoke on the back of the economic slowdown, poor revenue models, low footfalls-to-sales conversion and lack of special purpose malls, adds the survey.

(Pictures courtesy www.thehindubusinessline.com, news.in.msn.com)

Categories
Kharcha paani

Getting a job in a grim economy

What to do when you need to change your current job or start looking for one in an unfriendly economy.
by The Editors | editor@themetrognome.in

Ashish Desai* (36), was doing very well in his job of three years with a Mumbai-based newspaper. Till two months ago, he was confident that despite a worrying economy and job cuts across industries, he could not be affected. Then he received a major jolt: his contract was prematurely terminated with immediate effect, citing budget cuts. “I am now looking for a new job. But so far, nothing has worked out,” he says.

apply for a jobAshish is not alone. Over the past few months, several people have either been transferred within departments as part of their companies’ budget cuts and re-organising of personnel, or simply dismissed from service. “Companies are tightening their budgets,” says Avinash Motta, an HR professional who works with an MNC IT firm. “There is less hiring and more firing – this happens every time there is an economic recession.”

The most job cuts happened in 2008, the first wave of the economic recession to hit our country. However, every time a new recessionary wave hits our shores, we have to pad up for some smart moves in order to save our jobs or move to others. Here’s how:

– If you’re fired, understand why: Understand that it is not personal. However, even if it is personal, and if you are working on a contractual basis (where your company reserves the right to terminate the contract with sufficient notice) there is very little you can do if you are handed the pink slip.

Get smart: Find out why you were fired. Ask for the exact reasons – was it simply a decision to save company money, or was it because of some lacunae on your part? If it is the latter, find out which areas you were seen to lack in.

– Do your research: Is this the time to angle for that job you always wanted? If you’re looking for a job anyway, why not strike out for the big players? However, do your research about each organisation well. Meet up with people currently working in the companies you have applied in, find out the work culture, management-employee relations, etc. Do not apply for a job before doing your research.

Get smart: Find out if companies are currently recruiting, if vacancies exist in the department of your choice, what the pay scale for your position is, and so on. If possible, find out the profile of recent recruits to get a better idea of the kind of employee they are looking for.

– Update your resume: This seems like a very obvious thing to do, but astonishingly, most people only add their last jobs to their existing resumes and think they are done. Instead,research read your resume once again. Delete the elements that are not required, and add relevant details which potential employees will be interested in.

Get smart: Make multiple copies of your resume, one each for the company you will be sending it to. Each company looks for something different from a potential employee. If you don’t know how to make your resume attractive, enlist the help of professional resume makers for the job.

–List yourself with job portals: Job portals will inundate you with opportunities across sectors and regions. The job search becomes easier and all you have to do is apply.

Get smart: Be careful while sifting through information – some of the results may be outdated or you may be given searches that are irrelevant to you. Read the client’s requirements carefully before applying.

– Look for a ‘hook’ to get you in: These days, it is rare for people to get an interview call simply because they sent a resume. You will have to be creative not just with your resume, but with your overall approach.

Get smart: Ask a friend or acquaintance in the company you have applied in to ‘put in a word’ about you to the recruiting authority. That way, you will know at once if they are looking to hire somebody with your skills. If they are interested, your contact at the company must be aware of your current pay package, work experience and job skills.

– Follow up: If you’ve applied, don’t just sit back and wait for a call. Follow up diligently till you feel sure that either you will be called for an interview or that your application has been rejected.

Get smart: However, don’t stalk the HR or the manager constantly. Send respectful reminders via email. If they have given you a contact number, phone them up to ask the status of your application. Don’t be pushy, but be urgent enough for them to realise that the job is important to you.

interview– Make a good impression: The interview meeting is the most crucial phase of the process. Dress well, be sharp and attentive, and answer questions in a way that shows you have done your research for the interview. But don’t seem like a know-it-all: give out information only when relevant.

Get smart: Be honest. Don’t lie or hedge around the real reason why you have applied to them. However, don’t plead to be recruited, and do not badmouth the company you were last working with. Let the recruiters understand that hiring you would be beneficial to them.

– Negotiate well: Since you are applying, there is little chance of the company offering a chance for lengthy salary negotiations. Don’t underquote just to secure the job, but don’t overquote either.

Get smart: Ensure that they pay you more than your last company did, and that your tax structure is not adversely affected. Sit with the HR to understand your take-home component and your investment declaration.

– Don’t sit idle: If you don’t secure a job right away, don’t fall prey to depression. Keep yourself busy and don’t be disheartened by rejection. You may have to wait a while, but you will find something in the end.

Get smart: Take up freelancing jobs to pay the bills and to keep busy. If you have enough time and money, go on a break to recharge your batteries – travel, learn a craft, meet up with family and friends, invest time in your hobbies.

 (Pictures courtesy www.mediabistro.com, www.glassdoor.com, talentegg.ca, www.yorksj.ac.uk)

Categories
Kharcha paani

Mumbai will spend less this Diwali: Survey

City is second to New Delhi in probable cut in Diwali spending; inflation and shaky job situation are the reasons.
by The Editors | editor@themetrognome.in

Diwali will be upon us in November, but it seems that worried Mumbaikars are practicing thrift already.

A country-wide survey conducted by ASSOCHAM (Associated Chambers of Commerce and Industry) and released recently reveals that this Diwali, there will be a 40 per cent cut in most households’s festive budgets, with Delhi-NCR topping the list. The survey sample includes a majority of middle and lower income families.

The reasons given for slashing their Diwali spends were: rising monthly expenses due to high inflation, less job opportunities, shrinking real wages, and staggering costs of food commodities that are commonly used during Diwali.

Titled ‘High prices dampening the festive spirit’, the survey was conducted under the aegis of ASSOCHAM and showed that over 72 per cent respondents from middle and lower middle income families would spend nearly 25 per cent of their monthly salaries on Diwali for shopping, sweets, gifting, apparel etc. Delhi-NCR is on top of the chart projecting curtailment of festive budget thanks to eroding purchasing power, while Mumbai ranks second, followed by Ahmedabad, Kolkata and Chennai.
 The survey was conducted over two months beginning August to September 2013 in major cities like Delhi, Mumbai, Kolkata, Chennai, Ahmedabad, Hyderabad, Pune, Chandigarh, Dehradun etc. A little over 200 persons were selected from each city on an average. 
“The skyrocketing prices of essential commodities have left the aam aadmi  hard pressed. Be it sweets, dry fruits, crackers, pulses, dairy products, fruit or vegetables, the prices have registered large increases this year compared to the Diwali of last year. Even gold, the much sought-after item during this festive season, stays in the range of Rs 30,000 per 10 gm compared to Rs 22,000 last Diwali,” said DS Rawat, Secretary General, ASSOCHAM.
The survey reveals that the high income group remains unaffected from rupee fall, double digit food inflation. However, a large number of lower and middle income groups indicate that they are finding ways to cut back spending now or indicating they will do so in the future, noted the survey. A majority of respondents said that they plan to spend fewer amounts on this festive season as the prices on average of most of the gifts and traditional Indian sweets have gone up by 55 per cent, while the value of saving has gone gown by almost 15 per cent. Revisions in interest rates by banks have also sent their EMIs soaring, further eroding their monetary power, adds the survey.
Most of the respondents plan to cut down on personal expenses or go bargain hunting to keep their festive budgets in control. Over 57 per cent of the respondents will buy only on sale or discounts, 12 per cent will buy fewer gifts and the rest 2 per cent will buy a group gift. Only a small percentage feels that festivals are the time to splurge, even as discounts remain the biggest attraction for most buyers.
Over 76 per cent of respondents said that monthly grocery bills have jumped to about Rs 7,000, compared to Rs 4,000 in the last 12 months. The prices of vegetables and bakery products have also risen in the last few months. Obviously, this will affect the Diwali celebrations. Milk, butter, sugar, dry- fruits, flour and labour charges all go into making sweets. On the other hand, dry fruit and sweets are the most expensive items in Diwali.
The survey adds that the rates of ghee, sugar, edible oils, atta and spices have also registered increases of around 25 per cent to 35 per cent during the past one year.
(All figures courtesy ASSOCHAM. Picture courtesy webylife.com)
Categories
Kharcha paani

Bollywood comes home as rupee falls

A report on impact of sliding rupee on overseas shooting reveals that producers are opting to shoot within the country.
by The Editors | editor@themetrognome.in

That the sliding Indian rupee is causing problems to everybody is apparent, but it has taken its toll also on one of the country’s biggest industries – the film industry.

Used to shooting in exotic locales, Bollywood film producers are now wary of fixing schedules that need an overseas shooting spell. This finding comes from a report by ASSOCHAM (Associated Chambers of Commerce and Industry in India), which reveals that producers are now preferring to shoot within India or in less expensive foreign destinations.

“Bollywood films’ influx towards exotic foreign location has registered a significant decline to the extent of 30 to 35 per cent in the last four months due to the falling Rupee,” says the paper on ‘Weak rupee dampens spirits of Bollywood film-makers in foreign locations’. DS Rawat, Secretary General, ASSOCHAM said, “Due to a fall in the Rupee, Indian filmmakers are not just restricting their shooting outside, but are opting  [to shoot] within the country rather than going abroad. There will be more cut-down in the number of films shot abroad, especially medium or low budget films, and producers will opt for less expensive destinations in South East Asia, Middle East and South Africa.”

shooting in indiaIt turns out that spending by Indian producers to overseas locations has fallen sharply in recent months, as they are looking for cheaper options, or places offering better incentives within India. So, the influx of Indian filmmakers towards foreign locations has decreased by over 30 per cent.

“For film-makers, the cost turns out to be much higher from foreign countries mainly from USA, UK, Germany, France, Sweden, Italy, Ireland and Denmark in Europe.  Indian film producers are also reducing the number of days [of shooting] and looking to offset those costs by opting for shorter duration stays and looking at budget accommodation options,” Rawat said.

There are certainly some changes in travel patterns as a majority of filmmakers are opting for non-dollar destinations such as Sri Lanka, Dubai, Bali and Phuket, or sticking to domestic destinations such as Kashmir, Kerala and Goa, adds the ASSOCHAM paper. The paper further points out that the demand for destinations like Kashmir, Kerala, Ladakh, Goa, Himachal and Sikkim have seen a spurt in Indian filmmakers.

Over the past four months, travel costs and accommodation have gone up by around 25 to 30 per cent. The falling Rupee is definitely resulting in a slowdown in foreign location and spending abroad amongst Indian filmmakers.

(Pictures courtesy www.ifilmindia.com, www.voanews.com)

Categories
Kharcha paani

Single? Want to rent a house? Read this.

Buildings try to discourage single women from renting homes. But there are ways to get the house of your choice.
by The Editors | editor@themetrognome.in

In recent years, we have heard of incidents where single women found it difficult to rent their own house in Mumbai. The reasons for this are wide-ranging – while some building societies have been openly hostile, putting up circulars restricting the renting out of homes in their premises by single women, others have been more covert.

By law, nobody has the right to refuse a person wishing to buy or rent a house on any basis except non-conformity to rules and bylaws, and on no grounds can religion, caste, personal habits, occupation and gender play a role. However, increasingly, these very factors are coming into play.

Why target single women?
Traditionally, our society’s patriarchal mindset accepts the image of the man as being the provider. Hence, any transactions of property and major investments are ‘supposed’ to be the purview of the man. “There are many people, even in this day and age, who insist on renting their homes out only to families, and definitely not to single women,” says Rajendra Patil, an estate agent based in Borivli. He says that some home owners feel that ‘single women will not pay the rent on time, they will bring men home, and that families are more reliable.’

“We receive many requests for homes from single working women, but I have had to turn them away on several occasions.” Patil says that two flats that he has been hired to broker come with the strict instruction that the flats would not be given to any single women or men. “Not all home owners are this rigid – but most of them are,” he says.

Adds Richen D’Souza, a real estate broker from Vasai, “I think people became more wary [of renting out/selling flats] after some crime incidents came to light involving single women (such as the Neeraj Grover case, the Alok Tikku murder), and even if single women can rent flats, their backgrounds are checked first. And women from the film and TV industry are not given flats at all.”

What do the bylaws say?
handing over house keys“According to bylaws, a society can never have an official rule that disallows single women from buying or renting property, whatever industry or caste they belong to,” says Pankaj Ahuja, a partner at a real estate firm in Juhu. “But building societies do impose their own rules. A woman belonging to the entertainment industry is a big negative, and recent high-profile crime incidents are responsible for that. Another major hurdle is the unofficially designated ‘vegetarians only’ societies, for example, where a majority of the society’s members are vegetarians. In such cases, others can’t even order non-vegetarian food. There are many societies that insist on only vegetarians buying or renting the flats.”

Says Khyati Parmar, a PR professional who has leased a house in Andheri, “I had to use a contact in the local police station so that my police verification process (after the registration of lease was done) would go smoothly and I would get the house. I also ingratiated myself with the building secretary and chairman, so that they would have a good opinion of me. Before this, I was turned away by at least three buildings that did not want to rent the flats to me despite the flats lying vacant.”

How can you bypass these obstacles?
It seems unfair to be refused a house because of your religion, occupation or gender, but you must be careful and look for ways to get the transaction on the board. Try these tips:
– Do your research. Ask your single friends where they stay, and how the building society treats single women tenants. Look for a house in the same building, or in the same locality. Not all building societies impose a blanket ban on single women.

– Approach a real estate broker who can help you zero in on a location, because they know which client will be favourably disposed to renting to a single woman.

– Always insist on your rent agreement being registered, for your own safety. This will ensure that you are not unfairly evicted without sufficient notice. Also insist on a lock-in period of six months, during which the owner cannot evict you to accommodate another party paying a higher rent.

– If you are working and single, says Ahuja, you can try and put the building at ease by furnishing a work experience letter and character certificate from your company. “Or even better, look for a company lease, wherein the company directly pays the lease from your salary,” he says.

– You have the right to refuse to furnish a proof of income.

– Try not to force your way into a transaction. “You may be right from a legal standpoint and you may get a house after throwing a lot of technical jargon at the building society,” says Ahuja. “But if the society is vindictive, it will get back at you in some way. There was a case when a woman was given a nightmare of a time by the society, till she finally left.”

– If you work in the entertainment industry and are a single woman, you will have to be extra careful. Says Ahuja, “Look for a building which is planning redevelopment soon. The people in these societies are keen to get anyone to ensure they get rents till the building actually goes in for redevelopment.” Again, an estate agent can help you find such buildings in the locality.

– Understand the society’s rules. However, do not agree to any rules that will impede your timings or lifestyle. “Some buildings insist that all members should be inside the premises by 11 pm or they will lock the main gates. Such restrictions cannot work for those whose offices are located far away or whose working hours are erratic,” says D’Souza. Additionally, insist that your flat owner cannot visit you unannounced.

– Take care to not disturb other members or have people walking in and out of your flat all the time. “Though who comes to your house is your business after you sign the lease, buildings still look for ways to curb visits from outsiders,” Patil says. Try not to throw parties at your place, and if you must have friends over, ensure that they don’t make noise and that your visitors don’t step outside your house after 10 pm. Visitors must also not insist on using the building’s parking space.

– Ahuja cautions single women from going the other extreme, however, and having nobody ever come home. This can put the woman in a vulnerable position as well. “Ask a family member to stay with you for a few days each month, so that the building society knows you are not alone,” he says.

– Ensure that you get an expert to look into the various clauses of your agreement. “Some owners try to act extra smart with single women, especially single women with children,” says D’Souza. “They wrongly assume that women don’t much look into the technicalities of the transaction and will blindly follow instructions. It is better to hire an estate agent you can trust, and even better to take the agreement copy to an expert who can see if whatever is being promised will be delivered in the deal.”

 (Pictures courtesy houseplansandmore.com, anchorsholme.org.uk)

Categories
Kharcha paani

MTDC boosts Bollywood tourism plans

Bollywood tourism plan, which includes theme parks and a film school, among other film industry related ideas, gets MTDC fillip.
by The Editors | editor@themetrognome.in

Who doesn’t love Bollywood, right? Everybody does, even if some people won’t readily admit it. The biggest film industry in the world attracts one and all – while most of us choose to bask in the reflected glory of our favourite film star, there are others who try their level best to be a part of the industry itself.

Recognising that Bollywood tourism is actually a ‘thing’ – and megastars like Amitabh Bachchan and Shahrukh Khan coming to their balconies to give their fans a ‘darshan’ are just the start of this filmi love affair – Mahindra & Mahindra and the UK-based Pinewood Studios floated the idea (and a proposal for space) to the Maharashtra State Government, for a consolidated Bollywood experience in Mumbai. As per the plan, the two entities will set up a space for all things Bollywood at Kandivali, so that film buffs can have access to film memorabilia, technical knowledge on filmmaking, and if they’re really lucky, the chance to catch an actual film shoot. The plan includes the setting up of a Bollywood theme park as well, and an acting school will also come up in the area.

Now, the State Government has given this idea the required shot in the arm – PWD chief who also runs Maharashtra’s Tourism Department (MTDC), Chhagan Bhujbal, has promised that all assistance will be extended to the project. “We feel, given Bollywood’s rising success even in foreign countries, that this project will boost tourism in Mumbai and give people the chance to experience Bollywood,” Bhujbal says.

The project is to come up on a private plot at Kandivali.

(Picture courtesy travel.cnn.com)

Exit mobile version