Real Estate Bubble in Patna

Posted by Kumar Prafull under
Last half decade was a great story to tell for real-estate industry in Patna, the price of land and flats touched new heights. In 2005 apartments were available at around Rs. 300 per sq. Feet now it has touched around 10 times higher value of Rs. 3,000 per sq. feet. I can remember a plot of around 2000 sq. feet which was offered at a consolidated price of Rs. 50,000 near Baur Jail area, the same land is again available for sale after going through many owners since then now it is being offered at a price of Rs. 28,00,000.


No other investment can yield such profit for an investor. The period of 2000-05 was an ideal time for investment in land and buildings in Patna, today the jungle of concrete is standing tall all around but now it is looking for potential buyers unlike previous years when the queue of buyers was always 10 times longer than the availability. Big size advertisements can be seen in newspapers with reduced price of new offerings. Few years back the scene was different, no such advertisement was really needed to sell the project; in fact the the builders had enjoied the sale of whole project even before the bhoomi pujan. And untill completion, the flats were sold many times and everytime at a higher price.

The decade has also witnessed the ressession in real estate market in other parts of the country but Patna never felt it in fact it was enjoying its golden period at the same time.

Investment came through many channels, but most of money invested in projects in its early days ware from the bahubali and political families. Undoubtedly it was a perfect destination for investment as it was producing extremely higher return on investment in a short period of time and also it was risk free.

Now the bubble is about to brust. As the demand has fallen and still many mega size real estate projects is looking for its buyers. The trend of rising price on weekly and monthly basis is now vanished. In Bihar, specially in Patna and nearby area the real estate industry has grown rapidly, thousands of construction, supplier, and marketing compnay has been registered and started its operations. Many of these companies are now an inspiring story to tell. I am not expecting a fall in price but neither a steap rise anymore.

Healthy Life is Biggest Asset

Posted by Kumar Prafull under
The meaning and importance of having good health can only understood after it start deteriorating. May be because of busy lifestyle, our diet and schedule became unhealthy. As we grow up from teenage to 20+ our physical activities decrease to nearly zero, games no more remains a part of our routine. We stop our regular walk to shops, school/college and become completely dependent on cars or motorbikes to cover smallest distance. This is the first invitation to illness. It is not very hard to notice difficulties arising with age, like digestion capacity. In our 30s everything remains OK so most of us don't bother to find any health clinic unless our company has any compulsory regular checkup policy.
And after 30 it become often very hard to maintain a fit health because of late in starting up and putting up little more than manageable extra weight, diabetes, and pressure of rising responsibilities everyday at home and in office. Avoiding small symptoms of health deterioration in daily life ultimately results into a life with pills and problems.
Living a healthy life is not that hard, all it needs to keep health at its best is just a regular and disciplined routine, everyday workout, little yoga session, and a small walk. It is never too late to start something good. Don't over stress yourself with sudden resolution for fitness, it is a continuous process make it a part of your daily life. Small changes in you can increase your healthy life by 10 years.
You can buy everything back but health. 
Depth of friendship does not depend on length of acquaintance. 
- Rabindranath Tagore

What is definition of friendship? I say it is a relation that can not be defined. It is not just about being there for someone, caring for someone, expecting someone when we need, helping someone, doing masti together, insisting him to stay with you whenever he is in your town, or anything else that we use to do with friends; but all these with something else too, a feeling that can not be ignored, feeling of ownership whenever we say "He is my friend".
Just like you I am having many friends from different periods of my life. Like childhood, teenage, school, college, tuition/coaching, office, events etc. Some other friends are from my facebook/twitter accounts, some are from my apartment building, some are from my mohallah. At the moment I have different set for friends older friends are still in heart but we hardly talk once in two months or six months. Friends are still there but friendship is lost somewhere. All friendships were perfect ten friendship with all its attributes, like it will never gonna end. But now it is just a memory.
Have a look on these two full chat conversations one is of four years old we just separated after three year long full time friendship, and another is of one week ago. 

Four Years Ago:
-- START --
He: Helllooo. kidhar hai be??
I: Saale Netherlands me hoon..
He: Sun na.. mere phone me recharge karwa de 500 ka yahan 3 kilometer jana hoga
I: Tune account khol rakha hai beti***d 55 rupye ka karwa de raha hoon, roaming pe #@$$ se jyada baat mat kar.
He: hey bhai kam se kam 110 ka karwa de tujhe teri %&$^$ ki kasam
I: Ok saale, ab rona band kar. bike le to gaya hai, bech diya kya raste me, 3 kilometer jane me fat rahi hai teri.
He: woh ek chutiya cousin le gaya hai apne room.
I: Ab Thank u to bol nalayak
He: teri bhutani
I: marwa tu
-- END --

One Week Ago:

-- START --
He: Hi
I: Hello, How u been?
He: I m gud, how abt u? wer are u these days?
I: In patna only.
He: How is everyone at home?
I: Aal is well.
He: Y'day I was in Bangalore met Nikhil.
I: gr8, reunion, I missed :(
He: He said you were also in Bangalore for some time.
I: long ago, I m in patna
He: thanks for adding my name in mast head..
I: what, which, where???
He: Nikhil told me about club magazine..
I: ohk.. old story.
He: thanks was due. :)
I: you are welcome..
He: Let me know if you come up with any plan to Hyderabad.
I: sure, see you soon
He: take care, bye
I: bbye
-- END --

Should I explain something?

Biggest movement of India led by a civil society ended up with conversion into politics.
In early phase of crusade against corruption, they gained mass support across country, and managed to pressurise the government as well. But today, even after 6 days of fast, Team Anna has hardly added sympathy of people for diabetic Shri Arvind Kejreewal. The motive behind this season of fast was not very clear to everyone and ambiguity in speeches was to focus on gaining support of people for team rather for issue. The announcement of the launch of a political party was the death nail to the movement of civil society. In future, I will not rely easily to some other self-proclaimed leader from civil society, as this time it took sixteen months to learn their political ambition.

Few interesting things I witnessed and assessed during fast (season 3) are:

  • Role of media: Throughout the period of fast all discussions and reports were only about number of attendees. Coverage was very limited until Anna Hazare announced their will to provide political option. Just a minute after announcement, all news channels started airing intellect debates and reports on Team Anna and its political ambition. I don’t understand how media decides priorities.
  • Role of other parties: Until team Anna was running a civil movement all party leaders/spokesperson were saying (indeed challenging) team Anna to join politics and follow democratic means for policymaking. It was said in every interview by Congress and allies as well as BJP people, from senior most leaders on national media to tiny party workers on local news blogs. Now when they accepted it everyone started criticizing them alleging original intension behind movement was always gaining support of people for their future political motives. I am not surprised with statements, but at least once you guys can’t stick to your agenda. Oh I am sorry you are very much with your agenda which says “oppose anything and everything”.
  • Role of Ramdev Baba: What will be next step of Baba Ramdev who always came up with his political instincts? He never tried to hide himself behind any civil movement but openly accepted that he is waiting for right time. His partner took a long leap and now standing in front row, how the relation between Baba Ramdev and Anna Hazare will proceed further?
  • Role of Anti-UPA vote bank: Will this move of Anna Hazare indirectly support the Congress Party? It is certain that if Anna will launch a party and contest in election independently will create a divide in anti- UPA votes, BJP and Anna will share these votes and possibly ultimately UPA will get the profit. I am not sure how team will gather all the required resources to contest a general election in India.
  • Role of common man who seeks an option: Yes, if managed properly and Team Anna comes up with more transparent and democratic form of political option, it will certainly write a new history in the democracy of Indian Republic. For this Team Anna will have to showcase extraordinary courage and leave all insecurities behind provide a fair platform for everyone above team, family, friends, community, cast, religion, leadership, supporters, and any other factor. The option people are looking for is not just another party but a political party of their dreams.
All the best Team Anna. Good Luck India.
I am not sure since how long this method of fund sourcing by state governments is in effect. But in past couple of years what we saw was absurd, and definitely an unethical approach. Mamata Banerjee government has successfully bagged many packages from Union Government against her support in parliament and elsewhere, still looking greedy and raising new her demand. In recent development, Akhilesh Yadav led UP Government may raise a heavy package from center on for loyal behavior of Samajwadi Party during Presidential nomination. Another news is from my own state Bihar, where JDU has supported UPA and Pranab Mukharjee and forwarded a bill like a service/consultancy provider company.
These facts says, to get genuine help and financial support from center government either state should have government from center governed party, or arm twisting power, or bargaining capacity. Do you find such system justified enough in a democratic country? All money in the system is of it's citizen not of any political party or government executives so why it's distribution is entirely dependent on the willingness of the central government? Our federal system of governance is not playing like a real federal govt. at least in case of fund distribution to relatively poorer states.
Kumar Prafull, Patna
Suddenly I noticed, in my facebook friend's list I find many friends with their current professional status as "Founder & CEO of XYZ". I am really glad to see the increase in entrepreneurial temperament among us. India is becoming an entrepreneur's country, now enterprising youth is not a dependent job seeker but a ambitious job creator. People feeling proud to say that they are an entrepreneur, and they are doing good with their start-ups. Surprisingly not only technology or design based start-ups but many entirely different innovative ideas are converting into business models.
Most of them are not from any business school of repute; neither they belong to any business family nor a rejected jobless fellow. They have vision, they have plan, they have willingness to change, the are determined to take their country to rank one. Surely no one can stop us from becoming the leader of the world. Someone told me that out of every seven start-ups in USA one is by an Indian. If once we can do it in USA, of course we can do it again at our home.
Here I am not talking about mega markets of India viz. Mumbai, Bangalore, Hyderabad, Delhi, Pune etc. but a tier III city like Patna, small town like Muzaffarpur, Bhagalpur etc. of a comparatively weaker state Bihar. Undoubtedly, challenges are unlimited, resources are small, market is not at it's best, but the energy and determination is limitless. No one can stop this country from choosing the path of self dependency and financial freedom in real meaning.

What is 'Inclusive Growth' about?

Posted by Kumar Prafull under
Kumar Prafull, Patna
Inclusive Growth focuses on economic growth which is a necessary and crucial condition for poverty reduction.
Inclusive Growth adopts a long term perspective and is concerned with sustained growth.
  1. For growth to be sustained in the long run, it should be broad-based across sectors. Issues of structural transformation for economic diversification therefore take a front stage. Some countries may be an exception and continue to specialize as they develop due to their specific conditions (e.g. small states).
  2. It should also be inclusive of the large part of the country’s labor force, where inclusiveness refers to equality of opportunity in terms of access to markets, resources and unbiased regulatory environment for businesses and individuals.
Inclusive Growth focuses on both the pace and pattern of growth. How growth is generated is critical for accelerating poverty reduction, and any IG strategies must be tailored to country-specific circumstances.
Inclusive Growth focuses on productive employment rather than income redistribution. Hence the focus is not only on employment growth but also on productivity growth.
Inclusive Growth has not only the firm, but also the individual as the subject of analysis.
Inclusive Growth is in line with the absolute definition of pro-poor growth, not the relative one.
Inclusive Growth is not defined in terms of specific targets such as employment generation or income distribution. These are potential outcomes, not specific goals.
Inclusive Growth is typically fueled by market-driven sources of growth with the government playing a facilitating role.