Check your address if you plan to tie the knot
Residents of a DDA colony say they found it hard to get good matches for their children until they renamed the complex
Does the place where you live have a bearing on your matrimonial prospects? Going by what the residents of Rani Jhansi Complex, a DDA group hous
ing socie- ty near Jhandewalan, have to say, it apparently does. The recent change in the name of their colony has changed their life, they claim. When the colony was planned way back in 1980s by DDA, it was named Motia Khan DDA complex. Centrally-located this colony has gradually emerged as one of the affluent residential areas in Delhi, but then due to its name, Motia Khan, which seemed to have come straight from the medieval ages, the residents say they were confronted with some problems. “One, we were not etting good matrimonial offers for our children and two, parents had to go through a lot of trouble to get their children admitted to
good schools. Due to its name, people thought we were living in an old, lower middle class colony,” says Chamal Lal Marwah, the resident welfare association (RWA) president of the complex.
People in the colony, which has about 90,000 residents, including IAS officers, doctors, engineers etc, were fed up with marriage offers coming in for their daughters from relatively lower middle class areas nearby. In 2007, the RWA, with the support of all the residents of the colony, made an application to the MCD to change the name of the colony to Rani Jhansi Complex as one side of the colony opened towards Rani Jhansi Marg.
“We argued that naming the colony would be a true tribute to the woman who fought bravely against the British. Our efforts bore fruit as in 2007 the name was changed. Now we have good matrimonial offers for our daughters from affluent colonies such as Vasant Kunj, Greater Kailash etc,” says Lal.
Rachna Sharma, a school teacher, who has been living here for the last eight years, says, “public and convent schools give us more importance now. Not only that, it has enhanced our status too.”
International real estate investors have shown limited interest in India in 2012. The country has witnessed 6% quarter-on-quarter growth in direct commercial real estate in Q1 2012, as compared to China which has seen negative growth of -45%. However, China performed better in Q2 2012 on the back of one mega deal. In Brazil, investment volumes seem to be reaching a more ‘normalised’, sustainable pace following the supercharged 2010-2011 period.
These observations were made by Colin Dyer, global CEO, Jones Lang LaSalle, after a visit to India.
Broadly, he said, India has seen roughly $18 billion being invested in real estate over the past seven years. With $3.4 billion of exits, Indian real estate performance has not been exciting for the foreign investor. However, India remains an attractive investment opportunity and foreign investors are definitely still participating in situations that offer higher riskadjusted returns.
“The challenges that I see for Indian real estate, now and in the near future, are the expensiveness of liquidity for real estate, the lack of availability of serviced urban land, continuing procedural delays in approvals, the slow pace of infrastructural growth and the fact that the country still has relatively low transparency in real estate terms,” Dyer said.