This year, Earth Hour has been transformed into the world’s first global election, between Earth and global warming. For the first time in history, people of all ages, nationalities, race and background have the opportunity to use their light switch as their vote – Switching off your lights is a vote for Earth, or leaving them on is a vote for global warming. WWF are urging the world to VOTE EARTH and reach the target of 1 billion votes, which will be presented to world leaders at the Global Climate Change Conference in Copenhagen 2009. This meeting will determine official government policies to take action against global warming, which will replace the Kyoto Protocol. It is the chance for the people of the world to make their voice heard.
Earth Hour began in Sydney in 2007, when 2.2 million homes and businesses switched off their lights for one hour. In 2008 the message had grown into a global sustainability movement, with 50 million people switching off their lights. Global landmarks such as the Golden GateBridge in San Francisco, Rome’s Colosseum, the Sydney Opera House and the Coca Cola billboard in Times Square all stood in darkness.
In 2009, Earth Hour is being taken to the next level, with the goal of 1 billion people switching off their lights as part of a global vote. Unlike any election in history, it is not about what country you’re from, but instead, what planet you’re from. VOTE EARTH is a global call to action for every individual, every business, and every community. A call to stand up and take control over the future of our planet. Over 74 countries and territories have pledged their support to VOTE EARTH during Earth Hour 2009, and this number is growing everyday.
We all have a vote, and every single vote counts. Together we can take control of the future of our planet, for future generations.
On March 28 you can VOTE EARTH by switching off your lights for one hour.
Or you can vote global warming by leaving your lights on.
Global uncertainties arising out of the sub-prime meltdown, a slowdown in US and weakening of the dollar, the ripple effect has also been felt in India.
With inflation no longer a worry and with the threat of a slowdown looming large, the Indian government is going all out to give the necessary boost to the economy, including the real estate sector. Amir Hashmi, Correspondent, HT Estates speaks to Anuj Puri, chairman and country head, Jones Lang LaSalle Meghraj on what can be expected in 2009.
Since India is not isolated from the global meltdown, what more can be expected in the real estate space in 2009?
The recent measures taken by the RBI will need to couple with lowered property prices and further injections of liquidity to effect any significant changes.
Until then, domestic demand is likely to sink even further, and international interest will remain at cautious levels before the situation gets better. There has already been an overall drop of demand to the tune of between 45-50%.
We expect these figures to reflect a more positive scenario in 2009, at least with respect to residential real estate.
The fallout of the ongoing financial crunch and a justified watch-and wait stance by homebuyers will set some badly needed market adjustments in motion between January and March, 2009.
We also expect that, in 2009, the circumspection currently evident on both the domestic and international investor fronts will give way to cautious forays.
A decisive turnaround phase will come only in another 18 months to two years, but 2009 will see the groundwork for revival being put in place.
In terms of liquidity, we will definitely continue to have a challenge situation on our hands.
However, in 2009, we expect more innovative financial structures and liquidity mechanisms to ensure that delivery of the development pipeline is not affected.
Is 2009 actually the ”Year of Turnaround?” Or is the worst yet to come? If so, what can we expect?
The structural adjustment programme of the early 1990s initiated the liberalization of the Indian economy. High appreciation rates on India’s property market began with the reduction of interest rates that the NDA Government instituted after 2001.
In early 2004, home loan rates sank to a record low of 7.5% and this paved the way for the alarming spiking that previously typified the country’s property rates in many Indian cities.
The very amenable borrowing rates encouraged individuals to avail of home loans to buy residences, where actual property purchase had only been an option for the considerably rich before that.
This resulted in a huge demand for quality real estate all over the country post 2003. After March 2005, Indian real estate rates displayed an unstoppable upward curve - until the meltdown that began in late 2008.
No matter what it took to rationalize the market, we are still talking about a badly needed correction here.
Yes, 2009 will indeed be a turnaround year that will decisively separate the men from the boys, finally introduce new transparency parameters and keep the focus squarely on the end user.
Are government sops / stimulus packages enough to revive demand in realty - across residential, commercial and retail properties?
No. Players need to rationalize their asking rates, and end users must have the maturity to abandon their chronic watch-and-wait stance and make their move when the rates fall into their purview of affordability.
Only when Government initiatives dovetail with the positive actions of developers and end users will the market see renewed demand again.
What more policy initiatives can be undertaken in such a grim / dampened scenario for real estate sector to ensure more transparency in land / real estate dealings?
The introduction of a proper system for accreditation for those engaged in land valuations and a uniform stamp duty structure for all states in India would be a decisive step forward.
However, we are on the whole convinced that the Government is doing all it can under the present circumstances.
Is it a good time to invest in Tier-II cities? Why / why not?
Developers are currently focusing on market catchments that they are familiar with, and where there is established rather than projected demand.
This, in the current context, means the metros rather than Tier II cities. Certain Tier II cities such as Pune and Hyderabad continue to offer good investment potential, but investments must be done judiciously and in context with local market expertise.
Paint color styles for 2009 draws inspiration from both nature and nurture. Paint Quality Institute has released a short video to demonstrate these exciting design directions, which highlight the 2009 color trends.
Go placidly amid the noise and haste, and remember what peace there may be in silence.
As far as possible, without surrender, be on good terms with all persons. Speak your truth quietly and clearly; and listen to others, even to the dull and the ignorant, they too have their story. Avoid loud and aggressive persons, they are vexations to the spirit.
If you compare yourself with others, you may become vain and bitter; for always there will be greater and lesser persons than yourself. Enjoy your achievements as well as your plans. Keep interested in your own career, however humble; it is a real possession in the changing fortunes of time.
Exercise caution in your business affairs, for the world is full of trickery. But let this not blind you to what virtue there is; many persons strive for high ideals, and everywhere life is full of heroism. Be yourself. Especially, do not feign affection. Neither be cynical about love, for in the face of all aridity and disenchantment it is perennial as the grass.
Take kindly to the counsel of the years, gracefully surrendering the things of youth. Nurture strength of spirit to shield you in sudden misfortune. But do not distress yourself with imaginings. Many fears are born of fatigue and loneliness.
Beyond a wholesome discipline, be gentle with yourself. You are a child of the universe, no less than the trees and the stars; you have a right to be here. And whether or not it is clear to you, no doubt the universe is unfolding as it should.
Therefore be at peace with God, whatever you conceive Him to be, and whatever your labors and aspirations, in the noisy confusion of life, keep peace in your soul.
With all its sham, drudgery and broken dreams, it is still a beautiful world.
Color style for 2009 draws inspiration from both nature and nurture. PQI has released a short video to demonstrate these exciting design directions, which highlight the 2009 color trends.
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