MUMBAI: The spiraling rupee is resulting in a windfall for builders around the country who were struggling for more than a year to sell new homes.

In a three-day property show in Dubai last weekend, Indian builders were able to generate bookings for homes valued at over $50 million (around Rs 250 crore), which has prompted them to hop to other cities with large Indian population like London, New York and Singapore.

Ever since the rupee started depreciating there has been increased activity by the non resident Indian ( NRI) buyers as they pay in dollars. The benefits of the rupee depreciation, if added to the discounts being offered by developers, makes new homes in India cheaper by almost 30% in dollar terms. At the Dubai show, 70 companies including Unitech, Hiranandani Group, Vatika, Nirmal Lifestyle, Ansal Housing and Ireo showcased their 200 projects from Mumbai, Pune, Gurgaon and Ahmedabad.

“International real estate investment destinations, especially Europe and the Middle East are increasingly becoming uncertain. This, along with sharp depreciation in rupee, is attracting more NRIs towards Indian property markets,” said Niranjan Hiranandani, managing director of Hiranandani group.

Since August, the Indian currency has weakened nearly 20% against the US dollar. This, in addition to developer and project specific discounts has provided benefit of 25-30% to NRIs who are considering this as a good bargain. “Dirham, the currency of United Arab Emirates, being fixed to the US dollar is also helping Indian property market receive more attention from investors and buyers from the region,” Hiranandani added.

He expects the NRIs contribution in company’s revenue to jump over 8% in the ongoing financial year, as against 3-4% earlier. “In three days most of the buyers have shown interest in paying the entire amount upfront to get the benefit of current currency rate. Of these, 53% people have booked these properties for own use while rest have bought with investment objective,” said Sunil Jaiswal, chief executive of Sumansa Exhibitions, which organised the Dubai show.

The Maharashtra Chamber of Housing Industry (MCHI), the representative body of developers from Mumbai and the Mumbai Metropolitan Region, is planning to organize a property exhibition in Dubai between January 12-14. And developers, who are witnessing fall in sales volume from local homebuyers, are hopeful of a strong rebound from there.

The MCHI exhibition in Dubai will showcase around 300 properties developed by around 35 developers. “Prospects of sales to NRIs are bright this year, and therefore we are going to Dubai, London, Singapore, Doha and Hong Kong,” said Zubin Mehta, CEO at MCHI. He expects the Dubai show to generate 15-20% higher bookings than last year’s exhibition that saw bookings around Rs 70 crore and housing finance companies business at Rs 107 crore.
While Sumansa Exhibitions is also looking at organising more property exhibitions in international cities with Indian population many developers are also looking to enter into a tie up or set up their sales and marketing offices abroad.

The Upside

Rupee depreciation has made new homes in India cheaper by almost 30% in dollar terms. Builders sold homes worth $50 billion in a property show organised in Dubai recently. Increased interest by NRIs has prompted builders to organise such exhibitions in other cities with large Indian population

by SWATI DAFTUAR

A peek at how Mario Miranda’s trademark style evolved.

He is one of India’s best known cartoonists and social chroniclers. And now comes a book that shows us how he got there. The Life of Mario: 1951, published by Architecture Autonomous, is a graphic diary of images and cartoons from Mario Miranda’s life. More than 50 years old, it is a collection of his rib-tickling, tongue-in-cheek art work edited by Gerard Da Cunha. The year 1951 marked a turning point in Mario’s artistic development and in Goa’s own history.

In 1951, Mario De Miranda had just finished university in Mumbai and was on a sabbatical. Born in 1926 in the Portuguese enclave of Daman, Mario belonged to a Goan Roman Catholic family of Saraswat Brahmin origin. His father was the Administrator of Daman and his family a part of the local aristocracy. Consequently, Mario managed to imbibe the best of both Portuguese as well as Goan cultures. This multi-cultural understanding and empathy is clearly manifested in his work.

It is impossible to have read newspapers and magazines in India and not come across examples of Mario’s works. His influences are everywhere, in books, poetry and social commentary. But this book provides us with a peek into his personal life. Included in this volume are scenes from his daily life, which he was in the habit of drawing.

There are gossiping aunties, solemn priests, dances and birthday parties, favourite bars that allowed credit; everything from those years of Mario’s life that would later chart out the path towards his career. These images also show the cartoonist’s trademark style taking shape; the exaggerated line of the bosom and the rosy noses, the strut and bug eyes that would later become his signature style. Flipping through the pages of Mario’s life, you see the artist evolve and find himself within his own work.

All of 25 and free spirited, Mario’s sabbatical in Goa was filled with old friends and cousins out to have fun. They organised clandestine parties and picnics, visited their favourite haunts and hardly had a dull moment. Mario recreates this world, introducing us to hoards of charming and lovable characters.

A keen observer of village politics and human nature, he transforms this book, with his notes, dialogues and vignettes that pepper the images, from a simple chronicle of his life to a richly humorous social satire.

Many have wondered how Mario, with no formal training in art, could draw so spontaneously. Manohar Malgaonkar, whose book Goa was illustrated by Mario, seemed to have hit upon the answer when he said that Mario ‘did not become a cartoonist. He was born a cartoonist.’

The Life of Mario: 1951; edited by Gerard da Cunha, Architecture Autonomous, Rs. 395.

‘I wish I were Goa’
Published on: December 9, 2011 – 23:16

Carol Gracias, the name that’s synonymous with style, attitude and obviously fashion, is here in Goa for the India Resort Fashion Week.

In a candid chat with NT BUZZ she spoke about her roots, fashion and the secret behind her figure
Carol Gracias, your name that sounds very Goan. Do you have any Goan roots?
Actually many people believe that I have roots here but that’s not true. I am actually East Indian Maharashtrian Catholic and, unfortunately, have no root here. I wish I had, then I would have had a beautiful bungalow here (laughs). But, I do come here quite often.
What type of holiday you prefer in Goa?
For me coming down to Goa means lying on the beach, reading, swimming and having yummy food. I love to visit Morjim, Ashvem and some quite corners of Candolim area.
Coming back to your career, you are termed ‘supermodel’. And there is a buzz that there is no supermodel after you. Your comment.
There are many girls who are doing really well. When I started, at that time there were Madhu (Sapre) and Ujjwala (Raut) who were supermodels and there was a buzz that there was no one after them. So there is nothing like that.
There are perceptions that a modelling career has a shelf life. What’s your take?
I am in this industry for more than 15 years now. So I can’t say that it has a shelf life.
How easy or difficult is a modelling job?
I think what we require is really lot of patience. I think 90 per cent of our time goes in waiting – waiting to do our hair, waiting to get our make up done and then waiting for the show to start. In a day we actually have just 10 minutes of fame, when we walk the ramp. All the remaining time goes in preparing for those 10 minutes. So, this actually drains you physically.
You are one of the few models who made a mark in television as you were featured in Big Boss. Has this fame helped you in anyway?
It did help me to a certain extent. I got another television show, ‘Fear Factor’. I should confess here that these serials did offer me good amount of money compared to my shows. It did help me to get a roof over my head.
How was the experience Big Boss experience, when you were practically cut off from the world?
Initially I hated it as it was emotionally and mentally very taxing. But then when I came out of that house I realised that my morals are in the right place. Also I thought it was a good idea to keep myself busy with household work rather than indulging in gossips. Also that’s what I do when I am at home.
What are your plans for the future? Does Bollywood figure anywhere?
I just can’t do movies (laughs). I just did a music album with Abhishek Bachchan for the film, ‘Bluffmaster’ where I was featured with more girls. But, funnily people noticed me more. But frankly speaking I didn’t get many offers from Bollywood.
Coming back to fashion, what does fashion mean to you?
For me fashion means taking little effort to dress up elegantly. It may not mean following a trend. I personally follow a classic look. Also I wear a lot of black or white, basically more solid colours like grey, blue, etc. They are easy to mix and match also.
What is your opinion when you hear that nowadays models are anorexic? Do you think it is the trend?
Let us first understand that we are Indian girls; we have to have little bit of hips and waist in order to look good in sarees and ghagra cholis. I think this issue of models being anorexic is blown out of proportion by the media and there is nothing like that. I am not size 0. According to UK size I am a size 12.
How you maintain your figure?
I eat everything in limitation. I have a complete meal. But, I don’t workout at all. I used to, but now I have stopped. I think I do enough work at home and the usual rehearsals of the fashion show keeps me fit. Also I thank my parents each and everyday for this (smiles).

3-day international conference on ‘Goa: 1961 and beyond’
TNN Dec 8, 2011, 04.46AM IST

PANAJI: Over 65 papers are scheduled to be presented at a three-day international conference on the subject ‘Goa: 1961 and Beyond’ to be held at the Goa University (GU) from December 18.

This was announced at a press conference by former GU professor Peter Ronald D’Souza, who is currently the director of the Shimla-based Indian Institute of Advanced Study (IIAS). The conference is being jointly organized by the IIAS, GU and the Centro de Estudos Sociais (Coimbra University).
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D’Souza said the conference will be organized around the following themes: ‘Decolonisation and the imagination of Goa’; ‘The beginning of the end’, where the date 1961 is seen to mark the unraveling of the Portuguese empire; ‘The loss and afterlife of the metropolis in the colony’ and the ‘Dynamic of post-colonial Goa’.

D’Souza said the objective is not to reduce 1961 as a mere event in the history of India but to focus on the end of the ‘ultra colonialism’ of the Portuguese in Goa and the subsequent impact on the world.

The key conceptual framework is to map the afterlife of a territory where colonization first set foot in 1510 and how 1961 marked the beginning of the end for the Portuguese empire, he said.

Vibha Puri Das, secretary of higher education, government of India, will be the chief guest and professor Basudev Chatterji, chairman Indian council of historical research, will be the guest of honour.

The conference has received overwhelming response from scholars from across India and also from countries such as Portugal, UK, Australia, USA, Mozambique, Canada, Brazil, Macau and Japan.

The conference has accepted 35 papers from the international scholars and 34 papers from India.

Apart from the presentations of papers, there will be prominent scholars for the plenary sessions, which include Vishwanathan, Shahid Amin, Boventura de Souza, Rukmini Bhaya Nair and others. There will also be book releases and an exhibition of books.

On December 18, there will also be a public programme on the theme ‘The struggle for liberation: Aspirations and testimonies’ from 6.15pm to 7.30pm at the Macquinez palace hall, Panaji. The programme will include poetry recital on freedom and also talks by freedom fighters.

Panaji : A day after the Goa government admitted to a specific input about a potential terror strike in Goa during the tourist season, Home Minister Ravi Naik Tuesday said the state was prepared to “counter any eventuality”.

“Two platoons of the central security forces are already in Goa. They will be marshalling the beaches and other places of tourist interest,” Naik said.

“All police stations are on alert. Even the coastal security is in place,” Naik said.

The government has issued prohibitory orders in north Goa, which is home to the state’s most popular beaches, including Calangute, Anjuna, Arambol and Baga, apart from several other places of religious interest like the Bom Jesus Basilica, located in Old Goa about 15 km from here.

A statement by the government said that the terror alert was issued “due to the prevailing situation in the country and intelligence inputs regarding terrorist threats to the western coast of India” and threats of anti-social elements planning to commit crime in Goa.

Naik said that advisories had been issued to hotels, bed-and-breakfast lodge owners, religious places and restaurant owners.

Nearly 2.5 million tourists visit Goa annually, out of which nearly half a million are foreigners.
IANS