Realty check…

We live in a fast paced society and we continually struggle to out do one another. Consumerism has driven us all into such a mad fury that we never stop, think and prudently ask ourselves, ” Do we really need this?” . It could be the latest electronic device, a state of the art luxury car or even a spunky real estate that we eagerly wish to clutch on to for sensual gratification. There is a lucrative market that thrives on the  ” impulsive ” quotient. But, how important is it to be caught up in this race and how far must we go? When it comes to having a roof over his head, there is no limit to how far one is willing to stretch himself.

There is no limit to ostentatiousness any more. It is not the known rich who indulge in new levels of vulgar display but the nouveau rich are miles ahead in this game. If Mukesh Ambani now lives in the world’s most expensive home, there are many more who vie with each other to procure bigger living spaces by their standards. There are very few who think that Ambani’s show of wealth is outrightly garish and in extremely poor taste. A lot more think that he has the liberty to dictate what he wishes to do with his own wealth. Probably by Ambani’s own standard for ” Antilia” has just about met his requirements of fine living. In contrast there is Mr Narayanmurthy from Infosys who continues to still dwell in his old, simple home in JP Nagar. Fortunes did not change Narayanmurthy’s way of living. There are a plethora of individuals whose net worth is not even one millionth of Narayanmurthy’s and they have redefined boorishness.

When the previous generation bought properties, it was secured with a hundred percent cash payment. They never borrowed and saved for a good long time before they could acquire their “dream” house. They were also well into their late thirties or early forties by the time they bought their first home and securing a home was not exactly on their list of priorities either. Some preferred to stay in their undivided family set up at their ancestral homes to perpetuity while most preferred to live in rented accommodation. Back in the seventies and eighties it was again the larger middle class strata which saved punctiliously to afford a home. For many their dreams remained such and their dreams were better realized by their children.

Mortgage was taboo with the prior generation. Mortgage is fashionable today. Leveraging , over the top leveraging and negative gearing were responsible for the economic downturn a few month ago in the US. Mortgages were taken by “greedy” Moms and Dad who wanted to own “unaffordable ” homes and sometimes even multiple homes with little or no down-payment. Pizza delivery boys were playing bankers and lured the greedy public to gear up sometimes twenty times more than acceptable levels.An increasing number of borrowers, often with poor credit that were unable to pay their mortgages – particularly with adjustable rate mortgages, caused a precipitous increase in home foreclosures. As a result, home prices declined as increasing foreclosures added to the already large inventory of homes and stricter lending standards made it more and more difficult for borrowers to get mortgages. Thus began the great “sub prime mortgage crisis” in the US.In India, interest rates are still high and real estate prices in Mumbai and Delhi keep rising like a magical beanstalk. The levels which they have reached actually should be every cause for concern than celebration. Prices in Metros across India have literally spun out of control. Investments continue in Tier 1 markets while it is still being held back in Tier 2 and Tier 3 markets making affordable housing not at all affordable just as yet. Too much investment in Tier 1 markets has led to excess supply especially in the commercial real estate space and prices are bound to fall as rapidly as they have risen. Foreign investments ( 25 Billion USD ) have found their way into real estate and gold, again a sign of externally induced sign of volatility. There is a big fat “asset bubble” and it is all set to burst soon.

What is it that we can afford? The answer must be a statement of simple mathematics before one decides to dabble in property investment. If you have not prepared a “Balance Sheet” for yourselves, you must do so now. Nobody knows better than “you” what your financial health looks like. You need no expert advise on this either. Investing in Real Estate is still one of the most safest and soundest options available. But, investing at the “right time” is what makes or breaks a worthwhile investment. If one is borrowing at high rates of interest to invest, the investment must be churned when there is a reasonable growth in equity. An average mortgage of twenty-five years where borrowing costs are around 12% leaves the borrower paying almost over 2.5 times the cost of the property. There is little point in holding on to an investment property for this long. The investment becomes an even poorer option if it is used for self residence purposes.There is no short cut method to investing in Real Estate if you can afford to. If you do not ask the right questions, you will never hear the right answers. Play dumb, play safe. Never pretend you understand, always pretend you don’t. You will be surprised how much more you get to know by playing dumb.

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94 Responses to “Realty check…”

  1. Sharmila,

    This entry is only about the title of the above post. “Realty Check”. I am yet to read the rest.

    Did you know that for many years, for some strange reason, women were not permitted to recite the Gayatri Mantra? That rule phased out as women began to participate in governance and social order.

    ॐ भू:, ॐ भुवः, ॐ सुवः, ॐ मह:
    ॐ जन:, ॐ तप:, ॐ सत्यम |
    ॐ तत्सवितु वरेण्यम भर्गो देवस्य धीमहि
    धियो यो न: प्रचोदयात |
    ॐ आपो ज्योती रासो अमृतं ब्रह्म भूर्भुव: स्वरोम ||

    Of these the first line is in the Yajurveda (5:5:5:9), and the second line is in the Rig Veda (3:62:10, Vishvamitra). I don’t know the source of the last line.

    Secondly, there is no symbol ॐ in the mantra in the Vedas. It is only said out of tradition.

    The 3 words bhuh, bhuvah svah are the three levels of consciousness:

    The earth (bhuh), life (prana, bhuvah), and spiritual energy (svaha)

    South Indians (Krishna Yaju) pronounce suvah instead of svaha and vareniyam instead of varenyam; that only changes the count of syllables and the meter, not the meaning.

    ॐ भू:, ॐ भुवः, ॐ सुवः, ॐ मह:
    ॐ जन:, ॐ तप:, ॐ सत्यम |
    ॐ तत्सवितु वरेण्यम भर्गो देवस्य धीमहि
    धियो यो न: प्रचोदयात |
    ॐ आपो ज्योती रासो अमृतं ब्रह्म भूर्भुव: स्वरोम ||

    Literal translation is as follows:

    Aum Earth, Aum Universe, Aum Heaven, Aum The supreme

    Aum, World of the Living, Aum, World of Enquiry, Aum, World of Truth |

    Aum, may we meditate on the light of that divine creator

    Who energizes our intellect |

    Aum, in water, light, nector, the 3 universes as also in life is Brahma. ||

    It is recited (japa) as follows:

    ॐ भू:, भुवः, स्व:, तत्सवितु वरेण्यम, भर्गो देवस्य धीमहि, धियो यो न: प्रचोदयात |

    If you notice many words from the mantra are not in the japa.

    Recited 108 times one finds complete harmony (‘realty check’) of the body, mind and soul!

    ===

    Now let me read the post.

    🙂

  2. Sharmila,

    There is one aspect of the sub-prime crisis that still beats me.

    What lead to the collapse of banks and Leasing and Finance companies?

    If my money is in a bank that is exposed to such a bubble, what is the risk to my savings?

    • If your bank has invested via equity or RE funds heavily in Real Estate alone and if they are going around giving loans like the way American banks were, your bank stands a good chance of getting into where Citi was. Thats why it is always preferred to have a balanced investment portfolio. Not just banks, even the layman should have his eggs in more baskets than one. Defaults was the primary reason for banks and lending institutions collapse, coupled with a few other reasons. I doubt even if Geithner could give you a straight answer on this one but poor credit history, over leveraging, lack of basic checks, defaults, lower real estate prices, sub prime mortgages into hedge funds,and it’s disastrous impact on Wall street. One of the best programs that I have viewed was on CNBC titled house of cards which explains the origins of the sub prime crisis. Even the great Allan Greenspan was the villain at this time…Here is the link http://www.cnbc.com/id/28892719/

  3. Thanks, Sharmila, sound advice from an expert!

    “If it looks too good to be true, it probably is.”

    I don’t have to play dumb, I am: What’s a Tier 1 market versus Tier 2 or 3?

  4. sharmila,
    well to be frank the financial aspect of the post are not very clear to me ,think i am still raw in these matters.But what i really like in the post is the message you want to give to those nouveau rich people who can go to any lenghth just to show off their wealth and largesse.you are spot on when you say about middle classes still believe in saving money to build their dream houses.My father did the same, my uncle did the same and their are innumerable examples.The only time my father had to take a loan was to pay my engineering college feesand and also its very sad that in metros real estate prices are spiralling out of control and the only peaple who can afford those houses are rich businessmen,politicians,filmstars and cricketers.Middle class have to satisfy themselves with thane,virar,nalasopara in mumbai and noida and ghaziabad in delhi.

  5. Sharmila,

    I have spent a long lazy noon session at my beautician’s, mulling over your post instead of relaxing ( as I usually do) while her expert hands work wonders. I had gone through the post with a fine-toothed comb, reading it with utmost sincerity the way I read Physics in XII standard. I even found myself a new dictionary on the net called the Investopedia for the same! I have come to the conclusion that Tier 1, tier 2, tier 3, leverage, and negative gearing are NOT parts/functions of a vehicle!:)

    I dont remember my parents’ generation being as insecure as the present gen. They had dreams and desires within their realms of achievement, rational and not unattainable. They were content. Nowadays, we look around and see a sea of headlines – lots of frowns and wrinkled foreheads. How much do we need to stop feeling insecure? Is contentment a mirage that seems farther and farther away as we try to get closer?

    My daughter has a chapter on ‘Houses’ in Science – about everything from mansions to the nests of social weaver birds. She asked me how much our house is worth. I said approx. 1.5 crores. She wasnt happy with my answer. Her question was why a small family needs such a big home. I replied that a home reflects our social standing. She wanted to know if I was aware how many trees are felled for such monstrosities. I nodded meekly. Apparently, the future generation is thinking differently and in the right direction. I am only hoping she moves on to the next chapter soon – Panchayats. Hopefully, I will have the right answers for THAT one!

    🙂

    Aish.

    • Aish – Your daughter has a very valid point. As parents sometimes it is so difficult to put to ease their well founded doubts. Your daughter sounds so delightfully smart, like Mom I am sure ..;)

      • Aishwarya Says:

        Thank you, Sharmila…I am a proud mom!;)
        Your comment on CRR and liquidity is beautifully explained. I could actually understand aspects of banking…something I thought I never would!

  6. Sharmila,

    This is your best ever post so far! High fives for this one!!!

    I am reading the link… amazing!!

  7. By the time we are finished with this post I hope to get more answers from you.

    I have the following books in my collection but I am stil unclear about so many aspects.

    1. Age of Turbulence – Adventures in a new world, by Alan Greenspan

    2. Fooled by Randomness, The hidden role of chance in the markets: Taleb

    3. Basel II

    4. Modeling Risk, including the software for Risk Simulator and Monte Carlo method

    5. Managing Risk

    6. Market Risk Measurement

    7. Risk Analysis and Risk Managment Process (DAS)

    8. The Real Price of Everything: Six Classics of Economics in one volume, namely,

    8.1 An Inquiry into the nature and causes of the wealth of nations: Adam Smith

    8.2 An essay on the principle of population: Thomas R Maltheus

    8.3 Principles of political economy and taxation: david Ricardo

    8.4 Memoirs of extraordinary popular delusions and the madness of crowds: Charles Mackay

    8.5 the theory of the leisure class – an economic study of institutions: Thorstein Veblen

    8.6 The general theory of employment interest and money: John Maynard Keynes

    9. Development as Freedom: Amartya Sen (The micro-finance wizard)

    Hmmm.. where do I begin???

    Back in a jiffy…

  8. Sharmila,

    On second thoughts I will keep all the books away for the moment and come straight to the reality of realty as it seems now.

    A very naive belief among people is that prices in the market are decided by demand and supply. That is, when demand is more and supply is less, price is more and when demand is less, supply is more, price is less.

    That’s not true.

    A seller in the market decides the price according to what the customer can afford to pay. So, while a person paying out of his savings in Indian rupees pays less, one paying through a bank-loan pays more and the NRI pays the most.

    The key word is market “liquidity”; which is not about the demand and supply of realty but a ceaseless supply of cash enabled by the banking regime.

    The stupidity about the rise of the Indian consumer market is that this model brought down the USSR, it caused the US markets to fall flat and yet Indians hog it like caged animals.

    I will not mention the word “Jew” on this page.

    The unanswered questions are:

    Where does this liquidity come from?

    How does this liquidity enter the banking system?

    Why are savings banks allowed to directly or indirectly invest in venture capital?

    Is the population of India at 1.2 biillions a bluff? I see 100s of kilometers of empty land in each state.

    Are the GDP, CPI figures fudged through exotic and bizarre accounting methods to enable liquidity?

    We’ll think about ways forward once we identify the risks.

    • Madam,

      You have to answer the questions before I can move on!

      😦

    • Liquidity in India is determined by the Reserve bank which determines the cash reserve ratios. RBI uses CRR either to drain excess liquidity or to release funds needed for the economy from time to time. Increase in CRR means that banks have less funds available and money is sucked out of circulation. Thus we can say that this serves duel purposes i.e. it not only ensures that a portion of bank deposits is totally risk-free, but also enables RBI to control liquidity in the system, and thereby, inflation by tying the hands of the banks in lending money. CRR means Cash Reserve Ratio. Banks in India are required to hold a certain proportion of their deposits in the form of cash. However, actually Banks don’t hold these as cash with themselves, but deposit such case with Reserve Bank of India (RBI) / currency chests, which is considered as equivlanet to holding cash with themselves.. This minimum ratio (that is the part of the total deposits to be held as cash) is stipulated by the RBI and is known as the CRR or Cash Reserve Ratio. Thus, When a bank’s deposits increase by Rs100, and if the cash reserve ratio is 9%, the banks will have to hold additional Rs 9 with RBI and Bank will be able to use only Rs 91 for investments and lending / credit purpose. Therefore, higher the ratio (i.e. CRR), the lower is the amount that banks will be able to use for lending and investment. This power of RBI to reduce the lendable amount by increasing the CRR, makes it an instrument in the hands of a central bank through which it can control the amount that banks lend. Thus, it is a tool used by RBI to control liquidity in the banking system.

      • Sharmila,

        Thank you.

        Does that mean if I keep INR 100 in a bank and it goes broke then I can only expect to get back INR 9 out of my 100?

  9. Sharmila,

    While I wait for your reply, let me frame the terms of reference for what I am getting at.

    The father of the industrial world’s material philosophy, and as a fall-out the material nature of human subjects, is Aristotle, back in 384 to 322 BCE.

    Long before Newton drafted his conditional Philosophy, Aristotle had already set the ball rolling in his book Physicor V M (Book V). This is what he said,

    “There is something which initiates the change, and something which is changing, and again something in which the change takes place (like Time); and apart from this, something from which and something to which.”

    Perfectly scientific and objective. But look at where the logic ends.

    All substances consist of two ‘parts’ – stuff and structure. Aristotle called them matter and form or substance and shape.

    This theory rules out the possibility of a universe created out of nothing. For a change to occur a form must exist. A non-existence cannot change into existence and vice versa.

    In Book III, Aristotle defines change as “Change is the actuality of the potential qua such”

    Note: The terms actuality and potentiality are his standard refrain for differentiating substances – something is actually so-and-so and something is potentially so-and-so.

    The potential is the potential for change of the actual.

    From Greece to Jerusalam to Germany to New York, his philosophy has travelled places, ending each time with an exodus or a holocaust…

    • In the world of finance and notional money, the exodus/holocaust translates into a Great Depression, a recession, a deflation etc.

      • Reader,
        Lol…All we know is when Rupublicans occupy White House…recession follows their footsteps. 🙂
        Atleast it proved to be True for both Bush….Sr.& Jr.

      • MonaLisa,

        A venture capitalist’s idea of protecting investment is increasing consumerism.

        I believe it is a self-defeating destructive model. The destruction is of the natives when the money is invested by foreigners.

        It is easy to be a prophet in a strange country.

      • Reader,
        That exactly is happening in India. In name of Globalization many unwanted things are introduced to the neo rich and they adapting it happily without giving it a second thought or looking into its pros and cons….And Gov is allowing multinational companies to utilise its natural resources in abundance unnecessarily at the cost of the natives. Which has become a Global picture. Go to third world countries…use their resources and then get out from their leaving them high and dry……nothing new…!
        Noe India is marching towards the same pattern , the same vicious circle of inflation and deflation.

        Btw who’s trying to be a prophet..?

      • Prophet? Every American is…

      • Hmm…now that’s not nice @ Reader.
        That sounds very sarcastic and racial.
        If every American is a Prophet then every Indian should be/is what…!?

      • MonaLisa,

        You are out of touch with the reality or not ready to believe what you are hearing.

        Every American is predicting the glorious future of India – the next superpower…

        What sort of prophecy is that? A fool’s paradise!

        The same guys who ripped the G7, the same lot who brought the EU economy down, the same geniuses who shredded the USSR are now predicting a bright new shining India…

        The service industry in economy gets sucked towards the center of money.

        The banking, insurance, marketing, retail, automobile, defense, fast-food every sector has moved in to draw out their investment.

        These are the fake prophets hoodwinking the Asian markets with disdain and some obvious dismissive superiority complex…

        This is about economy. Not about religion, color, geography or politics. Nothing racist.

      • MonaLisa,

        Let me also make it clear.

        I am not anti-american. I believe it is the best country for a human being on this planet.

        I am speaking only about the economic models that run the NYSE, Nasdaq and Chicago bourses.

        You how much I love the Queen of England. I can never feel the same about America.

      • MonaLisa,

        Correction: Last para:

        You know how much I love the Queen of England. I can never feel the same about America.

    • Most informative about Aristotle..

  10. Sharmila and EF,

    Am offline from now till 1830 hrs IST.

    Attending a refresher course in Coaching, Mentoring and Leadership Training.

    Shall return with new insights and the latest tools and techniques in this sector.

    The last time I attended this one was in 2005. Shell had rolled out the Hearts & Minds package after spending a whopping US$ 20 million on the research!

    Lets see what they have come up with this time.

    Ciao…

    • Have a nice day, Reader. Ciao…

      • Just back. Finished my assignment of 1 hour in just 3 minutes flat and came out with a score of 99/100. Wonder where I lost the last one.

        Koi baat nahin let go…

        There was nothing about leadership training. Just coashing and mentoring skills and comptence assurance. I was yawing like a hippopotamus.

        The quality standards are being watered down to such low levels that even a kangaroo court will appear more rational and legitimate.

        I am going to start dog training. That seems more intellectual.

      • WOW..that is some score now

      • Spelling mistakes: Coaching and mentoring and competence assurance.

        I am tired. My specs are foggy and I need some tea without milk, without sugar and without water…

      • Aishwarya Says:

        Hope Friday knows how to make that!

        Hippo, kangaroo, dog…its a wild world out there…:P

        Congrats on 99/100 for a 3-min assignment!
        One mark jaane do… A leader doesnt need a score to prove his excellence.

    • I gather it went off ver well…

  11. Man Friday is on leave.

    I am very tired… no power nap in the afternoon.. mind is searching for itself…

  12. Pick of the day:

  13. This is when a man really goes to sleep:

  14. Kuch raaste iss mod se bhi jaate… all the way… I like the way Manoj Kumar records the songs.. keeps the narrative moving…

  15. And closes it on just the right positive note:

    • Aishwarya Says:

      I hadnt seen this version before. The last scene is simply beautiful…loved it.

      • The simplicity of the song is in everything about it.

        It’s the straight sargam

        Ek pyaar ka nagma hai

        Sa re ga ma pa ma ga

        And in one song he brings the whole story full cycle…

  16. This is reader when completely exhausted and burnt out… a bit melodramatic but not very far from the edge… 🙂

  17. Watch KBC… AB reciting Sahir… !!! What a moment!!!

  18. Aww…missed it Reader…but thanks for mentioning, I could watch Suhana play…I like her.

  19. Sharmila,

    I have a complaint.

    It seems to me that all your EF appreciates everything that you write. I spend hours on the subject and all I get is a few terse ones or videos.

    Cho chad, na?

    😦 🙂

    • Aishwarya Says:

      Lol. Cho chweet. Your comments are too good, Reader, way too good…

      I have a complaint too though. My daughter’s next lesson in English is about Humpty Dumpty and I am afraid I might find it difficult to explain the chapter with a straight face because aapne Humpty Dumpty ko ande se kuch aur hi bana diya! x-(

      • Aishwarya Says:

        Just kidding. Good Night.

      • 🙂

        I am kidding. I love writing and I love all the responses.

        Mann ka ho to achcha, mann na ho to aur bhi achcha…

        Yes, tell your daughter Humpty Dumpty was an egg-head!

        Show her an egg and ask her to balance it upright. No matter how hard she tries it will tumble! If it falls down it will break…

        Then, all the war and peace of King’s and their armies cannot put Humpty Dumpty together again!!!

        So, moral is: If you break an egg, don’t fight, make an omellette…

        🙂

      • Aishwarya Says:

        🙂

        If I let her in on this idea, I can expect quite a few egg splats with the Diwali fireworks this time! Euh…!
        But since you say so, may be I’ll allow a few Humpty Dumpties to be included in the celebrations…

        🙂

  20. Muraliraja Says:

    As you may be aware by now, RBI has increased repo & reverse repo rate once again(6th time in this year) to tame inflation. Also some measures to control real estate asset bubble. I’m not a expert in this field. I am commenting as guy who is curious about economics & has the chance to meet/discuss with people from various segments of the society. In my opinion(which is heavily borrowed from various articles in today newspapers), measures taken by RBI will control or atleast postpone the disaster. And I sincerely hope the middle class citizen(on whom India growth story has been built) will be able to afford a piece of land.

    Balance sheet:
    I check my financial health regularly. But never thought of making a balance sheet. Thanks for the suggestion, will do now.

    I like the ending. I always feel there is relevance between economics & human principles. I guess “Playing dumb” “Asking right question” holds good even in human relationship matters.

    Thanks for the wonderful post 🙂
    Expecting more such posts on Economics.

    • Thanks Murali…Your knowledge is more handy than mine. You have done very well to keep yourself abreast. What do you do btw?

      • Muraliraja Says:

        I work for L&T as Sales & Application Engineer. My job is to provide tooling solutions for metal cutting industries to improve their productivity. This gives me enough chance to travel around city,meet people from different segments(From machine operators to Managing directors,Accountants to Auditors)helps me to be in touch with the real world. My boss, organization,Financial newspapers & CNBC TV18 are responsible for my interest in Economics.

  21. Aishwarya, Anand, Lakshmi, MonaLisa, Ninad, Pritish Nandy, Renate, Saurabh, Sharmila, Shubha & all of Sharmila’s EF,

    Happy Diwali again. May Laxmi shower you with wealth, health and prosperity.

    It’s a Thursday, the weekend begins. It’s not much of Diwali in this part of the world.

    There was a chain mail this morning about the significance of each day of Diwali from Vasu baara, Dhan tera, Laxmi puja, bali pratipada and bhai dooj.

    Ofcourse baara tera etc are the moon days – 12, 13, Amavasya, 1 and 2.

    The cause for celebration of bali day is interesting. It is apparantly the victory of wealth over devotion. Laxmi over Bhakti.

    Funny how we let one feeling rule over another…

    • Aishwarya Says:

      Reader,

      Devotion for wealth…devotion for victory… What is victory of wealth over devotion?

      • I am not sure. bali was persecuted at the behest of Laxmi. Bali is the symbol for devotion and Laxmi for wealth. I suppose that is the interpretation.

        I have not heard any story about the devotion of Laxmi. I guess wealth is not devoted to anything or anyone.

        I don’t know.

      • Aishwarya Says:

        To Lord Vishnu…

      • Yes. She is Vishnu’s wife.

        Can you refer me to any story in the Bhagwatam, Vishnu Purana, Sathyanarayan Katha or any other where Laxmi’s devotion to Vishnu is depicted?

        I think Tirupathi also has one.

        I can’t recall one right now…

      • Aishwarya Says:

        Me? Refer you to a story in the Puranas? Seriously? 🙂

        Sorry Reader, I dont recall any… It was an image that came to mind when you mentioned Her devotion – Lord Vishnu resting on the serpent Shesha and Goddess Lakshmi by his feet…

    • thanks a lot and same to you,but dont you think maa laxmi is too selective in chhosing its beneficiaries..

  22. Testing the strength of music:

    (Note: Dha and ni are flat.. sa and re are in the next octave)

    Ma dha, ma pa, ma dha, ma pa,

    Pa dha ni, pa, pa ni dha pa ma pa,

    Sa sa sa re, sa ni dha pa ma,

    pa dha ni sa…

    This is the piano notes in this song: There’s a long story of how I learnt it… but I’ll leave that for some other time when we are in a mood for bedtime stories… 🙂

    • Note Raj Kappor’s signature tune between the opening lines and the first verse of Jeena yahan marna yahan. He has used it in all his movies from Barsaat to Bobby i.e. those that were given to the Shankar-Jaikishen duo. (Most composers have this fetish to write a distinct tune for some selected houses. The exception to this was Kalyandji-Anandji who used their background score from Devanad’s Johnny Mera Naam as signature tune of an entire movie for Amitabh Bachchan which was Don.)

      However, in Raj Kapoor’s case, the tune was not composed by S-J. RK picked it from a waltz called Danube waves.

      The notes are: (f-flat, u-next octave)

      Sa, ga ma pa, ga sa dha(f), pa ma sa(u), ni sa(u) re(u), sa(u) ni sa (u)

      ni dha pa, dha pa ma…

      Here it is, the last time it was used by RK in Bobby

      This is the original:

  23. Aishwarya,

    I am sacrificing my afternoon nap for writing this. Hope it is worth it.

    This is what I found in the Puranic Encyclopaedia by Vettam Mani, published by MBPL, Delhi.

    LAXMI

    1. Consort of Mahavishnu

    1) Origin: (Ch.9 of Devi Bhagavata): Devi originated from the left side of Parmaatma. Devi transformed herself into two entities. One was laxmi, the other was Radha. Radha weded Krshna (?????), Laxmi wedded Vishnu.

    [I can’t fathom this one. Krishna married Rukmini. There is no mention of anyone called Radha in the Mahabharat. K. M. Mushi has even pointed out that Radha may have been a girl in Vrindavan where Krishna spent his childhood, but there is no mention of anyone called Radha. She is a character romanticised by poets.]

    2) Different incarnations of Laxmi

    i) Daughter of the Ocean of milk: Appears as ksira sagar kanya during the Ksirbdhimathana (churning) to reward the deities with health wealth and prosperity.

    ii) Born as a mare (Ekavira)

    iii) Tulasi (Basil plant)

    iv) Sita

    v) Various (Vishnu Purana) : Vishnu-Laxmi; Surya – Lotus; Parasurama-Earth; Rama-Sita; Krshna-Radha;

    vi) Two natures: Priya Laxmi and Rajalaxmi;

    vii) Rural India: cow dung is called Laxmi

    Laxmi resides in the courts of Kubera (guardian of wealth) and in the courts of Brahma to carry the Lotus in her palms.

    Well, thats all there is. Yeh devotion kahan hai baba?

  24. Aishwarya,

    Don’t reply to the last one. Wait. I have found another reference. I am tyoing it now.

  25. Aishwarya,

    Reference: A Concise Encylcopaedia of Hinduism Vol 2 by Swami Harshananda, published by Ramakrishna Math, Bangalore

    Laxmi

    For obvious reasons, Laxmi, the goddess of fortune, is more sought after than Saraswati, the goddess of learning. Being the power and consort of Vishnu, the preserver, she is represented as the power of multiplicity and the goddess of fortune, both of which are equally necessary in the process of preservation.

    “Sri” or “Laxmi”, as depicted in the Veda, is the goddess of wealth and fortune, power and beauty.

    Laxmi is usually described as enchantingly beautiful and standing on a lotus in each of her two hands. It is because of this, perhaps, that she is named as ‘Padma’ or Kamala.

    She is also adorned with a Lotus garland. Very often elephants are shown on either side, emptying pitchers of water over her, the pitchers being presented by celestial maidens. Her color is variously described as dark, pink, golden yellow or white. While in the company of vishnu she is shown with only two hands. When worshipped in a temple – separate temples for Laxmi are rare – she is shown seated on a Lotus throne, with four hands holding padma, sankha, amritkalasa and bliva fruit. When shown with eight hands, bow and arrow, mace and discuss are added. This is actually the Mahalakshmi, an aspect of Durga.

    We can now attempt an explanation that is behind this highly symbolic picture.

    If Laxmi is pictured as dark in complexion, it is to show that she is the consort of Vishnu, the dark god. If golden yellow, that shows her as the source of wealth. If white, she represents the purest form of prakriti from which the universe has developed. The pinkish complexion, which is more common, reflects compassion for creatures.

    Her four hands signify her power to grant the four purush artha: Dharma, Artha, Kama, and Moksha.

    The Lotuses in various stages of blooming represent the universe in various stages of evolution (formation)

    Thr fruits bilve, coconut etc stand for the fruits of labour.

    In some depictions Laxmi is shown on an Owl. it looks rather odd and strange that the goddess of fortune and beauty should by carried by an ugly, inauspicious bird. But again that is symbolic.

    The word in Sanskrit for owl is Uluka. Uluka is also one of the names of Indra, who personifies wealth, power and glory. The symbolism is in the spiritual wealth depicted by Laxmi riding the ugly wealth depicted by the owl, the personification of ignorance.

    Lakshmi is the mistress of spiritual wisdom.

    Done. Ab bataao yeh devotion kahaan hai?

    • Aishwarya Says:

      🙂

      What is devotion, Reader?

      “If Vishnu is Narayan, She is Narayani. If He is Vaman, She is Padma. If He is Parashuram, She is Dharani. If He is Ram, She is Sita. If He is Krishna, She is Rukmini. If He is Venkateshwara, She is Alamelu. They are inseparable; wherever Vishnu goes, she follows, through eternity.”

      [Ref: Hindu Gods and Goddesses]

      If this is not devotion, I dont know what is…
      Har baat kitaabon mein hona zaroori toh nahi, kuch baatein hamein mehsoos karna lena chahiye…nahi?

  26. Aishwarya,

    Chalo, at least we read about Laxmi on Laxmi Puja day for this reason… 🙂

  27. Aishwarya, Shubha, Sharmila, Lakshmi and all EF,

    On the occasion of Laxmi Puja, here is my contribution:

    For those who recite the Sri Sukta, please read the transliterated text while playing the link. Translation is given after the translit which can be read at leisure later on.

    Sri Suktam

    Aum hiranya varanaam harinim su-varna rajat srajaam
    Chandraam hiranya mayim Lakshmi jaat vedo ma aavaha

    Aum taam ma aavaha jaat vedo Lakshmi-man-pagaa-minim
    Yasyaam hiranyam vinde-yam gaam-asvam purushaan-ham

    Asva purvaam rath madhyaam hasti naad pra-bodhinim
    Sriyam Devi mup-havye Srir-maa Devi-jush-taam

    Kamso-smitaam hiranya-praakaaraam- aardhraam jvalantim truptaam tarpayantim
    Padma-sthitaam padma-varnaam taami-hop-havye Sriyam

    Chandraam prabhaa-saam yash-saa jvalantim Sriyam loke dev-jushtaamudaaraam

    Taam padmini-mim sharanam-aham pra-padhye a-Lakshmir-me nashyan-taam
    tvaam vrune

    Aaditya-varane tapaso-adhi-jato vanas-pati-stava-vruksho-atha bilvaha
    Tasya falaani tapasaa-nudantu maayaa-anta- raayaa-scha baahyaa a-Lakshmi-hi

    Upeiy-tu maam Dev-sakha-ha kirti-scha maninaa saha
    Praadur-bhuto su-raashtre-asmin kirtim-vrudhim dadaatu me

    Kshutpi-paasaa-malaam jyeshtaam -a-Lakshmim naash-yaamya-ham
    Abhutim-a-samrudhim cha sarvaa -nirnud me gruhaat

    Gandha-dvaaraam duraa-dharshaam nitya-pushtaam karishi-nim
    Ishvariim sarva-bhutaanaam taami-hop-havye Sriyam

    Manasaha kaam-maa-kutim vaacha-ha satya-mashi-mahi
    Pashu-naam rup-manya-sya mayi Srihi srayataam yasha-ha

    Kardamen prajaa bhutaa mayi sambhava kardam
    Sriyam vaasaya me kule Maataram padma-maali-nim

    Aapaha srajantu snig-dhaani chiklit vasa me gruhe
    Ni cha Devim Maataram Sriyam vaasaya me kule

    Aardhraam push-karinim pushtim pinglaam padma maali-nim
    Chandraam hiranya-mayim Lakshmim jaat-vedo ma aavaha

    Aardhraam yah-kari-nim yashtim suvarna-aam hem-maali-nim
    Suryaam hiranya-mayim Lakshmim jaat-vedo ma aavaha

    Taam ma aavaha jaat-vedo Lakshmi-man-pagaa-nim
    Yasyaam hiranyam pra-bhutam gaavo-daasyo-asvaan vindeyam purushaan-ham

    Yaha shuchi-hi preyato bhut-vaa juhu-daayaa-jya-manva-ham
    Suktam panch-dashar-cham cha Sri-kaam-ha satatam japet

    Sarsij-nilaye saroj-haste dhaval-taraam-shuk gandh-maalya-shobhe
    Bhagavati-Hari-vallabhe-mano-gne tri-bhuvan-bhuti-kari prasid mahyam

    Asva-daaye gow-daaye dhan-daaye mahaa-dhane
    Dhanam me jush-taam Devi sarva kaamaa-scha dehi me

    Putra poutra-dhanam dhaanyam hastya-asvaadig-veratham
    Prajaanaam bhavasi Maataa aayush-mantam karotu me

    Dhanam-agnir dhanam-vaayur dhanam-Suryo dhanam-vasuha
    Dhanam-Indro Bruhaspatir-Varunam dhanam-ishvarou

    Veinate Somam piba Somam pibatu vrutra-haa
    Somam dhana-asya Somino mahyam dadaatu Sominaha

    Na krodho na cha maatsarya na lobho na-ashubhaa mati-hi
    Bhavanti krun-punyaa-naam bhaktaa-naam Sri-suktam japet

    Padma-nane padma karu padma sambha-ve
    Tanme bhajasi Padma-aakshi yen soukhyam labhaa-mya-ham

    Vishnu patnim ksha-maam Devim Maadhavim Maadhav priyaam
    Vishnu priya sakhim Devim namaam-yam nyut Vallabhaam

    Mahaa Lakshamim cha vidmahe Vishnu patnim cha dhi-mahi
    Tanno Lakshami-hi prachodayaat

    Padmaa-nane padmini padma-patre padma-priye padma-dalaa-yataaxi
    Vishva-priye vishva-manonu-kule tvat-paad-padma-mayi san-nidhat-sva

    Aanand kardama-ha Sri-daha chiklit iti vi-srutaa-haa
    Rushaya-ha Sri-va-putraas-cha mayii Sri-Devi devtaa

    Run-rogaadi daaridhra-yam paapam cha ap-mrutya-va-ha
    Bhaya-shouk-manas-taapaa nash-yantu mama sarva-daa

    Sri-varcha-strayam-aayuyshyam-aarogya maavidhaat-pav-maanam mahi-yate
    Dhanam-dhaanyam pashum bahu putra-laabham shat samvat-saram dirghamaayu-hu

    Aum Sri Mahaa-Kaali Mahaa-Lakshmi Mahaa-Saraswati
    Trigunaatmikaa Chandikaaye namah

    ===

    Translation by P. R. Ramachander

    Hiranyavarnaa harineem suvarna rajaathastrajam,
    Chandraam hiranmayeem jatha vedo ma aavaha. 1

    Hey God of fire,
    Request that Sridevi,
    Who shines like gold,
    Who destroys all sins,
    Who wears silver and gold ornaments,
    Who is like the moon,
    And who is golden,
    To come here,
    And shower her grace on me.

    Thaam ma aavaha jatha vedo Lakshmi- manapagaaminim,
    Yasyam hiranyam vindeyam kaamaswam purushanaham. 2

    Hey God of fire,
    Request that Sridevi,
    By whose grace,
    I got gold,
    I got cows,
    I got horses,
    And I got relatives and friends,
    To come here,
    Shower her grace,
    And never ever leave me.

    Aswa poorva radha madhyaam hasthi nadha prabhodhineem,
    Sriyam devi upahvaye srirma deveem jupathaam. 3

    I beseech and request that Sridevi,
    Who is heralded by the voice of elephants,
    Who is piloted by horses,
    And who is surrounded by chariots,
    To come near me and shower her grace,
    And request her to be within me.

    Kaam sosmathim hiranya praakaram aardhra jwalantheem truptham tharpayantheem,
    Padme sthithaam padma varnaam thaam ehopahvaye sriyam. 4

    I request and pray that Sridevi,
    Who is happiness personified,
    Who is ever smiling,
    Who is in the golden fort,
    Who is full of mercy,
    Who is ever shining,
    Who makes others happy,
    Who sits on the lotus,
    And who is of the colour of lotus,
    To be present here with me.

    Chandraam prabhasam jwalanthim sriyam loke deva jushta mudhaaram,
    Thaam padmineemeem saranamaham prapadhye lakshmeerme nasyatham twam vrune 5

    I seek the protection of that Sridevi,
    Who makes the world happy like the moon,
    Who is richly lustrous,
    Who shines because of her fame,
    Who is full of mercy,
    Who is the meaning of the letter �eem�,
    And who possesses treasures like Padmanidhi,
    And request Lakshmi to remove poverty from me.

    Adhityavarne thamaso adhijaatho vanaspathisthva vrukshodha bilwa,
    Tasya phalaani tapasa nudhanthu mayaantharayascha bahya alakshmi. 6

    Hey Goddess who shines like sun,
    By your great penance,
    Was born the bilwa tree,
    Which is the king of forests,
    And let its fruits full of knowledge,
    Remove ignorance inside,
    And bad things outside.

    Upaithu maam deva sakhaa keertheeya maninaa saha,
    Pradhur bhoothosmo rashtresmin keerthim vruddhim dadhathu me. 7

    The god of wealth Kubhera,
    Who is the friend of Mahadeva,
    Should come in search of me,
    For I am born in this country,
    Showered with your grace,
    Be pleased to give me fame and fulfillment.

    Kshupthipaasa malaam jyeshtamalakshmim nasayamyaham,
    Abhoothim masamrudheem cha sarva nirnudha me grahad. 8

    I would remove Jyeshta*,
    Who creates hunger and thirst,
    Wherever she lives,
    By your grace,
    And please remove poverty and want from my house.

    Gandhadwaaram dhuradapaa nithyapushtaam kareepineem,
    Easwaree sarva bhoothaanam thaam ehopahvaye swayam. 9

    I request and pray that Sridevi,
    Who pleases others by sweet scent,
    Who cannot be defeated,
    Who gives prosperity daily,
    Who is full of everything,
    And who is the goddess of all beings,
    To come and be present here.

    Maanasa kamamaakrutheem vachassathya maseemahi,
    Pasoonaam roopamannasya mayi sree srayathaam yasa. 10

    I request you goddess Sridevi,
    To forever bless me,
    With fulfillment of good desires of the mind,
    With ebbing happiness in life,
    With truth in my words,
    And with beauty that plenty of food creates.

    Kardhamena prajaa bhoothaa mayi sambhava kardhama,
    Sriyam vaasaya me kule matharam padmamalineem. 11

    Hey sage Kardhama** ,
    In your house was born,
    Goddess Sridevi as daughter,
    And so be pleased to be with me,
    So that mother Lakshmi with lotus garland,
    Is forever in my family,
    And bless us all with her grace.

    Aapa srujanthu snigdhani Chikleetha vasa me gruhe,
    Ni cha deveem matharam sriyam vasaya se kule. 12

    Hey Sage Sikleedha***,
    Who is the son of Sridevi,
    Let the goddess of water,
    Produce fatty products like milk and ghee,
    And please come and live with us,
    And request Goddess Sridevi,
    To live in our family forever.

    Aardhraa pushkarineem pushteem suvarna hema malineem,
    Sarvaa hiranmayeem lakshmim jathaveda ma avaha. 13

    Hey god of fire,
    Be pleased to bless me,
    So that Goddess Sridevi,
    Who is deeply merciful,
    Who lives on a lotus,
    Who supplies food to the world,
    Who is of golden colour,
    Who wears the garland of lotus,
    Who makes us happy like the moon god,
    And who is purity personified,
    To come and be with me.

    Aardhraa ya karinim yashtim pingalaam padmalineem,
    Chanraam hiranmayeem lakshmeem jathavedo ma avaaha. 14

    Hey god of fire,
    Be pleased to bless me,
    So that Goddess Sridevi,
    Who is deeply merciful,
    Who holds the staff of the emperor,
    Who has a body like tender climbing plant,
    Who has a pretty colour,
    Who wears golden garland,
    Who shines like sun god,
    And who is purity personified,
    To come and be with me.

    Thaam ma avaha jathavedo Lakshmi managaamineem,
    Yasyaam hiranyam prabhootham gaavo dasyoswaan vindheyam purushapaanaham 15

    Hey god of fire,
    Be pleased to bless me,
    So that Goddess Sridevi,
    By whose grace,
    I will get plenty of Gold,
    I will get lot of cows,
    I will get lot of maidservants,
    I will get lot of horses.
    And I will get lot of servants,
    Never ever leave me.

    Ya suchi prayatho bhoothwa juhu yaadajya mavaham
    Sriya panchadasascha cha srikaama ssathatham japeth. 16

    He who prays for the grace of Sridevi,
    Should be pure in mind and body,
    Control his mind,
    And everyday chant the above,
    Fifteen rik mantras,
    And do homa* with ghee.

    Ananda, Kardamashaiva Chikleedha ithi vishrutha,
    Rishayasthe thraya proktha swayam sreereva devatha. 17

    For this Homa*,
    Ananda, Kardhama and Chikleedha,
    Are the famous sages.
    And Sridevi is the goddess.

    Padmasane padmoru, padamakshi padamasambhave,
    Twam maam bhajaswa padamakshi yena sowkhyam labhamyaham. 18

    Hey Goddess who sits on Lotus,
    Hey Goddess who has thighs like lotus,
    Hey Goddess who has eyes like lotus,
    And hey goddess who was born out of lotus,
    Please grant me all,
    That you think will give a good life.

    Aswadhabhi cha godhayee dhanadayee maha dhane,
    Dhanam me jupathaam devi sarva kaamartha siddhaye. 19

    Hey Goddess who grants wealth of horses.
    Hey Goddess who grants wealth of cows,
    Hey Goddess who grants wealth,
    And hey Goddess who is the queen of wealth,
    Grant me more wealth.
    So that I can fulfill all my wants.

    Puthra , pouthra , dhanam dhanysm hasthyaswajaavigoradham,
    Prajaanaa bhavasi mathaa ayushmantham karothu maam. 20

    Hey Goddess you are mother of all people,
    Please grant me sons, grandsons, wealth and grains,
    Please grant me elephants, horses, sheep, goat, cow and chariots,
    And also please grant me long life.

    Chandramam lakshmeem eesaanaam sooryamaam sriyam easwareem,
    Chandrasooryagni varna maam Sri Mahalakshmim upasmahe. 21

    I pray and meditate on that Maha Lakshmi,
    Who shines like the cool moon,
    Who is the inner strength of Iswara,
    Who shines like the hot sun,
    Who is Sridevi and Iswari,
    And who is of the form of crescents,
    Of moon, sun and fire.

    Dhana magnir , dhanam vayur dhanam sooryor dhanam vasu,
    Dhanam indro brahaspathir varuno dhanamasnuthe. 22

    It is by your grace Sridevi,
    That Fire is wealthy,
    Air is wealthy,
    Sun is wealthy,
    Ashta Vasus are wealthy,
    Indra is wealthy,
    Brahaspathi is wealthy,
    And Varuna is wealthy.

    Vainatheya somam, pibha somam, pibhathu vruthraha,
    Somam dhanasya somino mahyam dadathu somini. 23

    Hey Garuda, drink Soma,
    Hey Indra drink Soma,
    Hey devas who have drunk Soma,
    Please grant me wealth,
    For I am performing Soma Yaga**.

    Na krodho na cha matsarya na lobho naa shubha mathi,
    Bhavanthi krutha punyanam bakthaanam sri suktham japeth sada. 24

    The devotees who do holy deeds,
    Never get angry,
    Are never jealous,
    And never do bad deeds,
    And for the devotion to grow,
    They should chant often,
    The Sri Suktha.

    Varshanth the vibhavari dhivo abhrasya vidhuyutha,
    Rohanthu sarva bheejanyava brahmodweepo jahi. 25

    Hey Goddess Sridevi,
    By your grace let it rain,
    From the black clouds with streaks of lightning,
    By your grace let all seeds germinate and grow,
    And kill all those who are against the path of gods,

    Padmapriye, padmini, padmahasthe, padmalaye, padmadalaayathakshi.
    Viswapriye Vishnu manonukoole twat pada padmam mayi sannidasthwa. 26

    Hey Goddess Padmini,
    Who likes lotus flowers,
    Who holds lotus flower in her hand,
    Who lives in lotus flower,
    Who has broad eyes like the petal of lotus flower,
    Who is the darling of the entire world,
    Who is dearest to Lord Vishnu,
    Please keep your holy feet on me.

    Maha devyai cha vidmahe, Vishnu patnai cha dheemahi,
    Thanno Lakshmi prachodayath. 27

    Try we will to understand Mahadevi,
    We would meditate on consort of Vishnu,
    And let Goddess Lakshmi help us in this.

    Ya sa padmasanastha Vipuls katithati padma pathrayathakshi,
    Dambheera varthanabhi sthanabhara namitha shubravasreouttareeya,
    Lakshmeer divyai gajendrai mani gana kkachithai sthaptha hema kumbhai,
    Nithyam sa padmahastha mama vasathu gruhe sarva mangalya yuktha. 28

    Let that Goddess Lakshmi.
    Who is seated on a lotus,
    Who has large seat below the hips,
    Who has wide eyes like the petal of lotus flower,
    Who has a royal looking spherical belly button,
    Who is slightly bent because of her heavy busts,
    Who wears a white cloth and an upper cloth,
    Who takes bath in the pure waters of heaven,
    Poured over her by majestic elephants,
    Who holds a lotus flower in her hand,
    And who is the storehouse of all that is good,
    Live in my house forever.

    Lakshmeem ksheera samudra raja thanayam,
    Sri rangadhaameswareem ,
    Dasi bhootha samastha deva vanithaam ,
    Lokaika deepthanguraam,
    Sriman manda kataksha labdha,
    Vibhava brahmendra gangadaraam,
    Twaam trilokya kutumbinim sarasijaam,
    Vande mukunda priyaam. 29

    Salutations to Goddess Lakshmi,
    Who is the daughter of king of ocean of milk,
    Who is the consort of Lord of Sri Ranga*,
    Whose maids are the deva maidens,
    Who is the lighthouse for the entire world,
    Whose side long glances add fame,
    To Brahma, Shiva and Indra,
    Whose family is all those in three worlds,
    Who appears in lotus ponds,
    And who is the darling of Lord Mukunda.

    Siddha Lakshmi moksha Lakshmir jayalakshmi saraswathi,
    Sri lakshmir vara Lakshmi cha prasanna bhava sarvada. 30

    You who are Siddha Lakshmi[1],
    You who are Moksha Lakshm[2]i,
    You who are Jayalakshmi[3],
    You who are Saraswathi[4],
    You who are Srilakshmi[5],
    And you, who are Varalakshmi[6],
    Should always be pleased with me.

    Varankusou pasamabheethi mudraam ,
    Karai vahantheem , Kamalasanasthaam,
    Kalaka koti prathibhaam trinethraam,
    Bajehamadyam jagadeeswareem thaam. 31

    I salute the Goddess of this universe,
    Who is having three eyes,
    Who shines like billions of rising suns,
    Who is seated on a lotus flower,
    And who holds in her hand,
    Boons, rope, weapon to tame and seal to protect.

    Sarva mangala Mangalye,
    Shive, Saravartha sadhake,
    Saranye Trayambake,
    Gowri narayani namosthuthe 32

    Salutations to that Goddess,
    Who is the greatest good among all the good,
    Who is forever peaceful,
    Who grants all boons,
    Who is the ultimate protection,
    Who has three eyes,
    Who is white in colour
    And who is Narayani.

    ===

    * Elder sister of Sridevi, the harbinger of bad luck and poverty.
    ** When Goddess Sridevi was born from the ocean of milk, she was brought up by sage Kardhama
    *** Some books mention him as the security guard of Sridevi and some others equate him with God of love-manmatha.who is son of Sridevi.
    * Fire sacrifice
    ** Fire sacrifice in which juice of Soma plant is used.
    * Holy temple of Vishnu and also means divine stage.
    [1]Lakshmi who grants divine powers
    [2] Lakshmi who grants salvation
    [3] Lakshmi who gives victory,
    [4] Goddess of learning
    [5] Goddess of wealth
    [6] Lakshmi who gives boons.

    ===

  28. Aishwarya,

    Began the day with my keybaord, mukesh, Raj kapoor, Laxmi Puja and all our discussions. I didnt realize we are on an older page!

  29. Sharmila, Aishwarya, Saurabh,

    May Laxmi bless you too.

    You know what my translation would have sounded like?

    Protect your wealth as you would protect your mother, sister, wife and daughter…

    🙂

  30. Reader,
    Thank you for ‘Shri Suktam’ with translation.
    Thank you for not feeling the same about America/ns the way you feel about Queen of England. However you are contradicting your comments…You mentioned…
    “Every American is a Prophet” and in next comment you said
    ” It’s not about all Americans..just about the lot that rules Wall street and all” 🙂
    Hmmm…sorry to hear that you feel my comments completely outdated and Me…Out of Touch..! (not)very funny…! 🙂

    • MonaLisa,

      Okay. You win.

      Now can we see a larger smile?

      It’s diwali, celebration time. There is no place for sadness…

      🙂 🙂 🙂 🙂 🙂 🙂 🙂 🙂 🙂 🙂 🙂

  31. As far as the Ambanis are concerned, most residents of Colaba where we had them as neighbours are happy they left. The noise from their parties was getting intolerable. The amount of parties they have, I would say they need that much space. Ambanis already had a 20 storeyed tower before. It’s really not a big deal that they moved into a 67 storeyed one (by height).

    Ratan Tata, also in Colaba however lives in a very large 3-4 bedroom apartment, while Shapoorji Pallonji has a kick-a$$ bunglow in Colaba. Each has his own style, you cant really compare.

    As for Narayan Murthy, his achievements are great but he has his share of criticism which rarely gets reported.

    http://www.kamalsinha.com/iit/people/narayana-murthy/charity.html

    A critical view of so called Narayan Murthy’s charitable contributions.

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