A Few Thoughts
Much has happened since we released the previous issue in April 2024. The most significant event, of course, is the NDA winning the parliamentary elections for the third consecutive time, which is a positive outcome for the continuity of progressive policies. A majority of Indian citizens have demonstrated their confidence in PM Modi for his bold policies, particularly in keeping the nation secure while maintaining good economic progress. Although the NDA lost a few states in the elections, their win in the keenly watched Maharashtra election was a much-needed morale booster for the Central Government. This will allow them to focus on the long-pending implementation of policies such as “One Nation, One Poll” and the Uniform Civil Code.
Unfortunately, the unexpected political developments in Bangladesh represent a significant setback to Bharat’s geopolitical stability. Our country, surrounded by unfriendly neighbors, faces major concerns regarding its borders, and this is likely to keep the Central Government occupied with strategizing and addressing the nation’s security challenges. In fact, world peace has been disturbed for the past three years, with the ongoing Russia-Ukraine war, the Israel-Palestine conflict, and now the revolution in Syria, further disrupting many economies worldwide. One can only hope that sanity returns soon. We should also closely monitor the actions of the mercurial President-elect Donald Trump as he embarks on his second term as President of the most powerful nation in the world, and what impact this will have on resolving the political conflicts.
Despite these geopolitical challenges, the Indian economy is showing remarkable resilience. However, since September, there has been an unexpected dip in growth across various business sectors, due to factors not yet fully understood. In Karnataka, the real estate sector is facing significant delays in obtaining new building permits and e-Kathas, making the ease of doing business seem like a myth. The process has only become more complicated over the years, with what used to take 3-4 months in the 1980s now taking 12-15 months, resulting in enormous financial costs and uncertainty. Unfortunately, the end customer ends up paying the price for all these delays. In such a scenario, how can housing become affordable when about 30% of its value goes to the government in one form or another, whether through taxes, duties, rates, or approval costs?
Brigade has launched an iconic project, Brigade Icon, located on the famed Mount Road (Anna Salai) in Chennai. This development features corporate offices, premium retail spaces, and ultra-luxury residences. Additionally, we are preparing to launch a one-of-a-kind mixed-use development in Neopolis, Hyderabad, modeled after Brigade Gateway in Bengaluru. Standing at 700 feet, Brigade Gateway in Neopolis will be the first of its kind in the country. The development will include Orion Mall, above which will be the World Trade Center Hyderabad offices. On top of that, a 325-key, 5-star deluxe InterContinental Hotel & Executive Suites will be situated. In the adjacent two blocks, there will be 594 premium 3, 4, and 5-bedroom apartments spread across 57 floors. These two iconic projects are in addition to several others that have been launched recently or are set to launch.
As I enter the twilight of my career, I am honored to have received several recognitions, such as Lifetime Achievement Awards from CNBC Awaaz, Commercial Design, Hurun India, Aryavysya Mahasabha, and Realty Plus. Additionally, Brigade and many of our Brigadiers have also been recognized by various esteemed organizations. Gukesh's victory in the World Chess Championship at such a young age is fantastic news and a proud moment for the entire nation. It is an unbelievable and phenomenal achievement. God bless him and his ilk to keep Bharat in its pre-eminent position for a long time.
In recent times, I have lost three individuals who were either close to me or known to me: Mr. Balaram Menon, a senior banker, a close friend, and the MD of our World Trade Center buildings; Shri S M Krishna, the capable and highly committed former Chief Minister of Karnataka, who transformed Brand Bangalore; and the legendary Ustad Zakir Hussain, who inaugurated The Indian Music Experience Museum in 2019.
I am currently on my first visit to Northeast India, exploring Guwahati and Meghalaya, and it has been an eye-opener. While the citizens here may be economically weaker compared to South India, their civic sense — particularly in terms of cleanliness and adherence to traffic rules — is far superior to many other parts of the country. With its natural beauty, the Northeast has immense tourism potential that is waiting to be tapped through better investment and promotion. The tourism sector can certainly serve as a solution to address the significant unemployment challenges our country faces. It requires focused action.
Wishing Season’s Greetings and a Happy New Year to all our readers.