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Editorial


GIREM 101 GIREM


(Global Initiative for Restructuring Environment and Management) No. 34, Ground Floor,Andree Road, Bangalore - 560027


PRESIDENT SHYAM SUNDAR S PANI shyam@girem.in


EDITOR-IN-CHIEF R.CHANDRAKANTH


chandrakanth@girem.in


ASSISTANT EDITOR NIRMALA RAO


CONTRIBUTORS S.DAS MAHAPATRA (DELHI) BINDU GOPAL RAO (BANGALORE)


EDITORIAL ADVISORY PANEL: SANKEY PRASAD CMD, Synergy Property Develop- ment Services


SANJAY DUTT Executive Managing Director, South Asia, Cushman & Wakefield.


RAMESH MENON Founding Partner, Certes Realty


NARESH NARASIMHAN Director, Venkataramanan Associ- ates


MARKETING HEAD TEJASVINI tejasvini@girem.in


ART DIRECTOR KIRAN KUMAR REDDY kiran@girem.in


Is Metro The Panacea For Urban Transportation Ills?


An interesting observation was made at a recent Delhi conference on urban trans- portation. Te term used was ‘metro mania’ gripping many Indian cities. Te author of the phrase was none other than Dr. Rakesh Mohan, Chairman, National Transport Development Policy committee.


While endorsing his views that the metro is capital intensive and should be looked at only for cities with over 5 million popula- tion, I must say that while we have been sleeping all these years with regard to mass rapid transit systems, now suddenly we want all the cities to have MRTs. More than metro rail, the city planners of future cities, (GIREM has identified 36 such cities) have to indeed plan properly on the suitability and viability of such systems. Various modes of public transportation has to be looked at and it has to look ahead, 20 years. From transportation, we move to realty. While the residential market in India witnessed stagnant demand for most of 2011 and was picking up early in 2012, the demand for commercial office spaces is worrisome. Tere is seemingly an oversupply of commercial space as demand in FY12 has seen a dip of 25% to 30%. Corporates are treading cautiously and are hoping for an improvement in the global scenario.


Tis scenario has brought the rentals down, thus affecting the ROI in the commercial real estate realm. However, some cit- ies such as Bangalore, Chennai and Hyderabad have had better returns as the IT and ITeS sectors are finding momentum.


In this issue, we have Ramesh Menon of Certes Realty question- ing the government on the Land Acquistion, Rehabilitation and Resettlement Bill. He asks ‘In whose interest is the government acquiring land?’ and points out a known fact of the landowner getting pittance for his land and how unscrupulous elements have been driving real estate, thus making land beyond the reach of the common man.


Happy Reading or shall I say Happy Investing !


R.Chandrakanth Editor


GIREM 101


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