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Unfortunately, the international scene is quite uncertain with Oil prices going up and the unpredictable approach of the US President resulting in a trade war between the United States & China, the world's two largest economies. This has brought in a lot of uncertainty to the external macro environment though, the United States economy, which contributes more than 25% to the world's GDP, is doing well. The resultant impact on our currency is negative as the Indian Rupee has weakened by 7% and will affect the country's balance of payments.
Though the Indian manufacturing sector is showing good order books, companies are declaring better financial results and though the Monsoon is by & large good, there is a certain amount of anxiety amongst trade and industry due to interest rates beginning to go up, apart from the uncertainty of impending parliamentary elections in early 2019.
After three years of a recessionary trend in real estate, the sector seems to be on the recovery path. With not many new project launches during the last two years, unsold numbers have come down and prices have stabilised. With the implementation of RERA, much-needed customer confidence and positive sentiment are returning back. The Central government is doing its bit by increasing the thrust on infrastructure improvement. The spoilsport can be rising home loan interest rates.
In this background, Brigade has launched a number of new projects and is gearing up to launch several more in Bengaluru, Chennai, Hyderabad & Mysuru. With ‘Parkside' as the brand for ‘Independent Living for Seniors', we are offering well thought out residences in all four directions of Bangalore. We are back to offering Ownership Offices for investment, lease or for own use. In fact, the first three projects of Brigade in the late 80s & the early 90s were all commercial projects. We have also started the concept of ‘Managed Residences' in our villa projects in Devanahalli - Brigade Atmosphere & Brigade Orchards. With ‘Ease of Occupation' for the customer in mind, we have introduced ‘Brigade Plus' initiative offering a host of conveniences. With the launch of ‘One Brigade App', our customers can avail a number of benefits.
With the commencement of the festival season, business & investor sentiments will improve. I seek the continued goodwill and patronage of our customers."
—Jaishankar CMD, Brigade.
BY the time this issue reaches its readers, suspense over the Karnataka Assembly Elections will be over. I hope and pray we get a stable government which can give us good governance. The patient and hospitable citizens of Karnataka deserve a government that cares about the development of the State and the welfare of its people. Going by past experience, is this a case of wishful thinking and expecting too much?
The political situation in the Centre is a cause for even greater concern. In another year, if not earlier, the nation will go to the polls to elect a new government. So we are sure to witness all kinds of permutations and combinations amongst the political parties, with the common purpose of unseating the current government. Narendra Modi gives us hope, but it remains to be seen whether internal NDA politics will trouble him more than his competitors. His performance at the India Today Conclave was brilliant.
After allowing the steadily growing economy to slide, our government seems to have woken up from a deep slumber. They are making the right noises and pronouncements. Investors and businessmen would want the feel good factor to come back. Whether it is too little, too late, is the question. International money is fungible. International investors don't have patience or any special love for India. Although India, with its vast population, has tremendous potential, erratic policies of the government can lead to the flight of capital. Political uncertainty for the next one year will certainly not help our cause.
The silver lining for Indian business may come from positive developments elsewhere. With the US economy showing signs of recovery and the worst being over in Europe and Japan, the world economy is more likely to bounce back than slide. The decrease in prices of gold and oil is a definite indicator of better times ahead. How much of a rub off effect it will have on India remains to be seen.
I tend to feel that big brother China has taken undue advantage of our country's political instability. We are left with the impression of being surrounded on all sides by them. On the east, they have control over
two strategic islands in the Bay of Bengal near the Andaman Islands, thanks to Burma. On the west, they plan to build a highway cutting across Pakistan to access the Arabian Sea. On the south, they have entered Sri Lanka. It is extremely important that our government protects the sovereignty of the nation.
2013 should be a better year for Brigade Group; having launched a few projects already and with the imminent launch of several more projects in the Whitefield area. After much effort, we entered the Hyderabad market with the launch of premium apartments—Brigade at No. 7—in the prime Banjara Hills area.
As part of our CSR and neighbourhood improvement initiative, we redeveloped the 3-acre BBMP Park, adjacent to the 17th Cross Malleswaram over-bridge. The newly greened and developed park has been well appreciated by its many users. The 5-acre open space on the other side of the bridge is being developed into a nice playground for multipurpose activities. This will be especially enjoyed by children. Incidentally, while on the subject of children, our Brigade Foundation is amongst the first to have embraced RTE students in all its three schools.
What commitment, determination and innovation can do to urban living is aptly demonstrated by the city Medellin in Colombia, South America. Let us hope against hope that Bangalore will experience a similar reinvention, to make it “a greater city than any other city and a city of the future”, in the words of our first Prime Minister, Jawaharlal Nehru.