Recession ke side-effects

For those who have lost jobs, there is a logical stress. but for those whoare in jobs, the fear of losing job and an uncertain future haunts them


Work stress during recession is hitting employees hard. Take the case of Manya Kumar (name changed), a 30-year-old senior executive working in media, buying a house in Gurgaon. Manya returned home feeling feverish last Friday. Just after an hour, her heartbeat fastened and she had breathing problems. There were also allergic reactions in her body. After going through a complete check-up, Manya was diagnosed with too much of work stress and thus had suffered from a panic attack. Doctors have advised her to take rest for two months which she cannot. Manya is still a regular at work. “I am on probation. If I take rest for two months, I will have to quit. And quitting job in times of recession is hara-kiri. I hope to survive this ordeal,” she says.
Only five months ago, Manya joined a new company in Gurgaon. She was unhappy here as she had to settle with much less work than she was promised. She tried looking for options which was nearly impossible during the recession. That’s how her problems began.
Manya is not alone. Ahana (name changed), 25, a junior executive in a public relations firm, is also battling with recession-related stress. A Gurgaon resident, she joined this new organisation in Delhi seven months ago. Due to a freeze on hiring, her company extended her probation. Now, she has been working on weekends, too. With no rest and too much of work pressure, stress took its toll on her. Ahana suffered an attack last Sunday and doctors found her BP on the lower side, low calcium and high levels of sugar in her body. To add to her woes, she has been diagnosed with a straightened spine. She has again been advised rest and physiotherapy, but Ahana, too, is regularly attending office.
“If I tell this to bosses, I can lose my job. Another stress factor now is the kind of medical expenses I will have to bear. On top of it, parents’ pressure on me to get married is another stress factor,” she says.
Dr Deepak Raheja, consultant psychiatrist at Paras Hospital, says, “Cases related to work pressure in offices have shot up. The problem is that people are going through real stress and perceived stress. This imagined threat is bothering them more, and it is even more damaging.”
Dr Vinita Malhotra Jha, a consultant psychiatrist, says, “For people who have lost jobs, there is a logical stress. But for those who have their jobs intact, the fear of losing job and uncertain future haunts them. It is this group which is very difficult to treat.”
According to Dr Jha, to battle work-related stress, I suggest them to think rationally, exercise and do yoga, stay calm and stable and work harder.
Dr Raheja feels there’s a positive side to recession also. “Recession will make people more adaptable. You can’t leave a job as there are no jobs in market. So, whatever reason they had for quitting, they have to adapt to it. Recession is also giving an opportunity to feel happiness and pleasure. Almost two generations have seen boom in the markets. The present condition will help people to adapt to real situations and face real life. It’s all about differentiating real stress and perceived stress and still be happy,” he says.
The impact of recession stress has hit hard on employees from BPOs, IT industry, real estate firms and those who have taken huge loans for house and cars. Due to stress, their coping mechanism can also affect their health. Stress leads to irregular food habits and increased cases of smoking and drinking alcohol, which is bad for health, Dr Jha says.
“Comparatively employees from health, pharma and telecom sectors are the most secure as there are no lay-offs here. However, they are also on a quiet mode and working harder as they know in times of recession they won’t get good hikes and perks,” she adds.

Jai Ho!

NGO helps Gurgaon slum kids realise dreams

From a ragpicker to the Slumdog Millionaire, Jamal Malik, played by Dev Patel, is on an Oscar high. One thousand miles away from Kodak Theatre, a little over 100 ragpickers, living in shanties behind the DLF Phase V, are trying to live the same dream.
An NGO, Edwell, is making their dreams possible. The NGO has launched Chauraha, an adult education programme, for these slum kids. “We started these classes last week and children have already learnt alphabets of both English and Hindi. We wish to bring these kids more innovative ways of teaching and better infrastructure,” says Vivek Tyagi, CEO of Edwell.
“This is a 40-day capsule programme and after this we will arm the children and women of the slums with vocational training. Children can learn candle-making and instead of ragpicking can do much constructive work,” says RC Vidyarthi, Head Project Development & Planning, Edwell. “Ragpicking in Gurgaon is a huge business and these children are its mainstay. They set out in the morning to collect garbage from different parts of town and then they sort it out here. The waste is then exported for recycling,” he adds.
“Chauraha owes its success to its unique pedagogy and production design that has an interesting mix of fiction, animation, puppetry and narratives,” says Tyagi. Edwell plans to involve the women and children of the slums in the production of smokeless fuel (briquetted fuel) to be used in an improved version of Chullha (twin stove) for cooking, water boiling and room heating.

BREAKING NEWS: Tata Motors announces the launch of Tata Nano

Nano Mein Sapna

Tata Motors today announced that the much-awaited Tata Nano will be launched at a function in Mumbai on March 23, 2009.
The cars will be on display at Tata Motors dealerships from the first week of April 2009. Bookings will commence from the second week of April 2009.
Since its unveiling on January 10, 2008, the Tata Nano has evoked an unprecedented interest in the country, with its website having recorded over 30 million hits in the past one year and the creation of over 6,000 interest groups and communities.
Tata Motors is making arrangements for the widest possible network to book the car, so that prospective customers can conveniently avail of booking facilities at their locations, across the length and breadth of India. The booking process and other details will be announced on March 23, 2009.

Grave problem for Sector 28 residents

None of the cities in India have come up so soon than Millennium city of Gurgaon. While all sectors are seeing a phenomenal growth rate in terms of occupancy, sector 28 which is just a stone’s throw away from the posh DLF market Galleria looks like a desert. Located in the heart of Gurgaon, there are around 350 plots in the sector and only 25-30 families have built their houses here since it came into existence in 2003.
Its nemesis lies on the presence of a cremation ground on plot numbers 324,325 and 326. This is a classic case of the great urban-rural divide in the country. Villagers are up in arms against the sector 28 residents. The residents feel threatened so much that they refuse to come in front of camera or mention names in the story.
The residents received a rude shock on Valentine’s Day as Gurgaon MLA Dharamvir Gabba inaugurated the crematorium with much fanfare. “The villagers encroached on HUDA’s land earmarked for building houses and built the cremation ground here,” says an RWA official of sector 28.
“Authorities are turning a blind eye to our plea. Forget about us, the cremation ground is clearly visible from Delhi Public School’s primary section. Think about the children studying there,” says another resident.
Sector 27 located opposite 28 has more than 50 per cent occupancy. The rates in sector 27 too are higher by Rs 10,000 per square yard. “Nobody is ready to buy a plot here despite the land rate being so low. It’s Rs 35,000-38,000 per square yard here,” says a resident.
And much to the chagrin of residents, even during “correction” time the rate across the road in DLF area anywhere between Rs 60,000-75,000 per square yard.

Construction delay worries DLF investors

Buyers are worried after the news spread that DLF has stalled construction of its much-hyped project DLF New Town Heights in Sector 90. However, a statement issued by DLF says, “DLF has not stalled, deferred or put on hold any project where we have made commitments with our customers, including DLF New Town Heights and Express Greens in New Gurgaon. Commitment of DLF remains unchanged and we will put all required resources to deliver the projects on time.”
Naveen Chaudhary, a resident of Princeton Estate in DLF Phase V, says, “I have made 50 per cent payment for my flat. DLF had promised us possession within three years. One year has already passed, but only basic excavation work is done on the site. There is no way that DLF can build this in two years now. Last week I went to the site I saw only a few machines and no workers.”
Delhi resident Sachin Jain, a CA by profession, bought a flat in New Town Heights for Rs 44 lakh. After two months he received a call from DLF that he had been allotted a flat in Sector 86. “I gave them the allotment amount and submitted three installments. When I was supposed to sign the buyer’s agreement I was told that the price was raised by Rs 5.78 lakh. When I protested, DLF officials told me they will reimburse the money but will deduct Rs 7 lakh,” Sachin says.
Sachin Jain has paid 35 per cent of the money. Now the company has asked him to deposit the rest of the amount. “Only a board stands at that place. Construction hasn’t started on the plot in Sector 86. The DLF is asking me to pay installments in time and if I don’t they will charge 18 per cent interest,” he says.
“DLF New Town Heights was launched in Q4 of last fiscal. It took us a few months to get necessary approvals to commence work, and since then we have already completed the excavation/foundation work. It should be noted that 24-storey buildings require a significant work below the ground, which takes time,” Sanjey Roy, Sr General Manager, Corporate Communications, DLF Ltd, says.
However, a few of the investors hope the construction giant completes the project in the remaining two years. A group of investors are meeting DLF officials in Delhi on Saturday.

No slowin’ down, house that!

The unending euphoria of realty sector witnessed during the last few years is finally showing signs of recession. But even in times of downturn, Tata Housing, which launched a project in Gurgaon last year, assured its investors that the company was committed to the construction, execution and delivery of its project, Raisina Residency.
Reaching out to its customers, Tata Housing Development Company, Managing Director, Brotin Banerjee, said, “With the slowdown impacting industries across, the realty sector is going through a bad phase with nervous consumers avoiding high value purchases. The biggest concern for any buyer is the transparency in dealings, credibility and reliability of the developer and the deadline.
“We, at Tata Housing, are committed to make landmark projects in terms of quality with timely construction, execution and delivery, even in these difficult times. Our entire team is dedicated to safeguard the trust of our customers and we will deliver the product as scheduled,” he said.
Raisina Residency is a premium and exclusive residential complex in Gurgaon inspired by the theme of ‘art and culture’. It is scheduled to be completed by June 2011. Last year, Tata Housing signed Kapil Dev as its brand ambassador. The premium apartments are priced over Rs 1 crore and are being built in Sector-59 on Golf Course Road.