Tuesday, June 3, 2008

New Age career trends and opportunities--April 21, 2008

A look at all the New Age career trends and opportunities
Rai Umraopati Ray

There was a time when everybody wanted to become an engineer or a doctor, but the norm has changed today with youngsters now looking for more creative and unique fields of expertise. Call it the western influence or the education hunger of innovative Indian minds, there are a horde of options available today for people who want to try their hand at something unique and different.
In the hustle bustle of everyday life, where a majority of time is spent in commuting, Radio or FM as is called today, has become the favourite companion of many. So how about becoming a Radio Jockey? The popularity of the FM radio in the metros and the proliferation of
radio stations have also made careers in broadcasting attractive. You can now work for a FM station as a RJ, marketing executive, sound engineer or correspondent.
Talking about communications, there is no dearth of opportunities here and the field uniquely has something in store for everybody. The proliferation of satellite television channels and the entry of multinational media networks have resulted in a wide spectrum of job openings for Directors, Producers, Engineers, Technicians, Journalists, Script Writers, Researchers, Computer Animators, Performing Artists, Actors, Video Jockeys, Anchor Persons, News Readers, Script Editors, Video-film Editors, Set Designers and many more!
Close behind, the sector of Public Relations and Event Managers is also fast catching fire. With the trend of specific job being handled by a particular person settling in, the mammoth task of conceptualising, planning, organising and finally executing events is not anybody's cup of tea anymore.
Once considered redundant, the law profession is once again catching fancy of many. All legal system needs trained people who can understand and interpret it. Apart from practicing as a civil lawyer or criminal lawyer, you can specialise in Business Law, Environmental Law, Patent Law, Tax Law, International Law, Real Estate Law, Labour Law, Cyber Law, Genetics, Human Rights Law etc. The expansion of Internet has created the demand for cyber lawyers. Another emerging and potential area for specialisation is genetics law.
Earlier the Science stream would always be associated with Doctors and Engineers thankfully, not anymore. Biotechnology has emerged as an upcoming and interesting outlet of Science, wherein, the field of genetics has already achieved significant breakthroughs in agriculture and human health care. Biotechnology could eventually eliminate food shortages and improve health and life expectancy. Bioinformatics, the convergence of telematics and micro-genetics will be a basis for a major jump in evolution. The Biotechnology sector will be the driving
force of the markets.
Some other field under this include Robotics, which involves the automation of all dangerous and dull work in surgery, security, health care, space, mining laboratory and the fast food industry. Close behind, Nanotechnology is also gaining speed wherein machines whose
parts are measured in millionths of a millimetre promise to lower unit cost and spread the benefits of technology. Neuroscience is another one of the new interdisciplinary fields, which combines cellular, and molecular biology with physics, chemistry, psychology and physiology.
If scientists are considered the 'brainy' people, people who go up in space are surely a step ahead and with the name and fame given to the space researchers these days, the field is truly becoming popular.
Space research is mainly carried out in the areas of astronomy and astrophysics, planetary atmosphere and Aeronomy, earth sciences and solar system studies and theoretical physics etc. Up next, Cognitive Sciences is less about brain biology and more about reasoning, behaviour, language and logic. In a scenario where great emphasis is given to quality of life of which health is a vital element, Environmental Science will emerge as quite a relevant field.
We all work for a price but when the price is against some good deed come, it's truly becomes satisfying. Thus, for those who are looking at similar such satisfaction level, working for an NGO would prove ideal for them. Social work as a career requires specialised skills in
optimising a community's development with people's participation and in catering to the more vulnerable groups in society such as elderly people, those with physical or mental handicaps, children at risk and people who are mentally ill. Other areas of specialisation are labour welfare, industrial relations, family welfare, counselling services etc. Social workers are also involved in conducting research studies, data evaluation, project formulation, training activities as well as programmes of awareness raising, gender sensitisation etc.
With almost every field in our country touching its peak at the moment, the tourism industry is also making headlines. In the present escalating tourism scenario, there is a growing need for travel professionals, agents, guides and people of similar such nature. Close to tourism is the concept of Medical tourism and with the upsurge of a health conscious generation, the need for personnel in the hospital management is quite high. Health managers, administrators, nurses, ward boys, all are required in plenty. Up next, the recent expansion of the insurance sector has resulted in a demand for many more personnel in this field.
Last but not the least, IT enabled 'outsourced' services like tele-shopping centres, medical transcription, maintenance of data bases, insurance claims processing and records for multinationals require thousands of English speaking, computer literate graduates.

Property prices in Punjab go southwards--Jan 20, 2007

The sluggish trend of the real estate market in Punjab continues due to the state assembly elections, Rai Umraopati Ray reports
With assembly elections in Punjab on the anvil, property prices have further dipped by 5 to 15 per cent in the state --- continuing the sluggish trend of the real estate market. Thanks to the verbal clash between the two major political parties about different real estate projects and policies, buyers and investors are quite apprehensive and would rather not go in for any deals at this point in time. The market therefore, reflects an absolute 'no-buyer condition'. According to realty sources prices have depreciated in almost all districts including Mohali, Jalandhar, Bathinda, Ludhiana, Amritsar, Zirakpur and Dera Bassi. But the expected resurgence --- sometime in the beginning of the new financial year --- is dependent on the results of the elections.
Sanjay Arora of Yours Property Consultant in Chandigarh averred, “Property prices have depreciated by 5 to 10 per cent in the periphery areas of Chandigarh due to the state assembly elections and the present condition of over supply. Prices have gone down by nearly 15 and 10 per cent in Zirakpur and Mohali respectively. The affect can be seen in Kharar and Dera Bassi too where rates have climbed down by 7 to 8 per cent. A change of government will definitely affect the real estate market in the state and prices could go down further.”
Being a rather volatile market, realty prices are usually affected during the elections. But this time round, it is strong reservations (by a major political party) against some of the state's mega projects that have made buyers and investors sceptical about putting money into any real estate projects for time being. Says Virendra Tiwari, a resident of Ludhiana, “We have postponed the decision to buy a plot in a residential project because of the state assembly elections. If the government changes, policies and regulations regarding real estate could change the fate of various projects of the region.” In Ludhiana itself, prices have dropped by more than Rs. 4000 to Rs. 5500 per square yard in and around Shaheed Bhagat Singh (SBS) Nagar. According to realty sources the prices of residential plots nose-dived with a 1000 square yard plot seeing its rates falling by a few lakhs in the last four to five months. "Residential plots do not have many takers for now. Buyers are waiting for the new government to form and announce their policies," said a property consultant who has been in the real estate business for the past seven years.
Likewise, in Jalandhar, property prices have crashed by six to seven per cent in the last six months. Real estate prices have depreciated in developed areas like Green Model Town, Urban Estate Phase-II, Gurmeet Nagar, Ramnik Nagar, Cheema Nagar, Vasant Avenue, BMS Nagar and Indira Park as well. As per market reports, rates have also climbed down on Bathinda-Mansa Road, Bathinda-Dabwali Road and Bathinda-Barnala Road where numerous residential projects are being offered for sale. The Director of a residential project in Bathinda, on the condition of anonymity, revealed that the number of transactions have considerably decreased in the last two months. Even the number of queries has reduced to just one or two a day.
The situation is no different in the Holy City of Amritsar where rates have gone down on the Jalandhar-Amritsar Highway, GT Road and Mall Road. According to market sources the real estate scenario in the city has been affected due to the political upheaval over the last 40 days. Investors and end-users are waiting for this phase to end and for the political uncertainties to settle down.
R.P. Malhotra, CEO, DeeEss Estates disagrees with the points of view put forward, “The market is in a correction phase and the elections have little or negligible impact on the realty market. But regime change in the state would definitely create hurdles for any mega projects because of the main opposition party’s constant outbursts against mega projects approved by the ruling party in the name of development.” However, M.S. Chadha, Director, Chadha Group, who is developing a large project, WestEnd Estate, in Mohali is confident that “good projects which are legally placed and have not used shortcuts will have no trouble.”
The market may be dispirited at this point in time but irrespective of which political party comes to power, real estate is going to prosper as it is synonymous with development.

The big boom--Jan 13, 2007

The year 2006 started on a good note, thanks to the government allowing 100 per cent FDI in the real estate segment and ended on an equally good one as major construction giants announced a horde of projects in the capital and the NCR… Rai Umraopati Ray gives you a sneak peek into the realty developments of the region
A booming economy coupled with liberal government policies has totally transformed the face of the Indian real estate industry, making the graph escalate further year-after-year. The year 2006 was certainly no exception.
Following the huge success and appreciation of its first research report done on the Chandigarh real estate market, PropertyVertical.com has recently come up with its second research report on real estate in India, covering ‘Residential and Commercial Upcoming Projects’ in Delhi and the NCR. According to the report, the Commonwealth Games 2010, to be held in East Delhi, are leading to a great deal of action in infrastructure development, hospitality as well as in the retail segment. Indirapuram, Dwarka and Kaushmbi have witnessed a lot of development in the wake of the upcoming event.
Areas like Kundli and Manesar are buzzing with activity. While Kundli is witnessing the rise in residential projects with some big developers like TDI tapping the potential, IMT Manesar has become the favoured haunt for the investors, corporations and developers. The EROS Group is setting up a corporate park in IMT Manesar on an area of approximately 5 lakh sq. ft. Property rates in the Kundli and Manesar region are expected to move with the same pace with gradual momentum over the next five years. The recent announcement by the Haryana state government to extend Metro services to Kundli will certainly make the area one of the most sought-after destinations for real estate developers and investors. With the proposed Rajiv Gandhi Education city in Kundli (on the Delhi-Haryana border), the area has the potential of becoming an education hub.
According to the Associated Chambers of Commerce and Industry of India (ASSOCHAM) the real estate market will grow to US $60 billion by 2010 from the present figure of US $16 billion. In 2006-07, FDI is expected to be US$8 billion, with real estate having a share of 26.5 per cent. This share is expected to increase by at least 10 per cent (with particular demand for office space for IT/ITES sectors) by March owing to the entry of global real-estate players. A study on remittances conducted by the Reserve Bank of India (RBI) reveals that in the Financial Year 2006, of the total US$ 11.04 billion invested by the diaspora in various instruments, US$ 2.46 billion (Rs 11,070 crore) went into buying property.
There is no questioning the fact that the land saturation in the capital led to the development of suburban locations like Gurgaon and Noida, but nobody could have predicted that the development would take the form of a gigantic boom.
Keeping pace with the intense competition, builders are trying out more inventive methods to be different and customised. For instance, specialised malls have become the order of the day. Gurgaon will soon have an auto mall catering to automobiles in addition to a wedding mall by Omaxe, which will also house a huge banquet hall. In order to position their products and build brand value, malls are now coming up with 5-star hotels and service apartments which showcase conference halls, swimming pools, banquet halls and multiplex all under one roof. Around eight Secial Economic Zones (SEZs) are coming up in Gurgaon. With SEZs having the mandate to develop residential zones, the overall infrastructural quality in their vicinities is bound to be of a high calibre.
Be it the upcoming Commonwealth Wealth Games or the recently conducted sealing drive, everything today seems to make an impact on the real estate industry. There is simply no stopping rising prices as the rush of residential and commercial projects continue their surge ahead.
According to the recent research conducted by PropertyVertical.com, the maximum numbers of commercial projects are coming up in Delhi whereas Gaziabad is attracting more residential developers. Tier II and Tier III cities (non-metros, towns, and semi-urban areas) are witnessing a preference over Tier I cities by real estate investors.
Developers like DLF, Ansal, Omaxe Group, Unitech Group, TDI Group and others are now foraying into Tier II and III towns like Manesar, Kundli and Rudrapur and the suburban areas of Gaziabad, Greater Noida, Faridabad, etc. The year 2007 will have the maximum number of commercial projects completed with possession transferred to owners. The year 2008 will have the maximum number of residential projects completed, while the majority of upcoming residential projects will be completed in the coming year and in 2009. The commercial real estate market is approaching its peak whereas the residential segment is very robust. Keeping these conditions in view, overseas investors will continue to invest in the real estate for a few more years, says the report. The report further predicts that property rates in the new sectors of Faridabad are expected to appreciate and that there will be little scope for appreciation in prime land rates in Noida, Gurgaon and Greater Noida. The research goes on to state that even though the Sonepat belt is picking up pace, the market is expected to be more aggressive with land rates poised to appreciate to Rs. 25,000 - Rs. 30,000 per square yard in the next five years.Over the last year, the Delhi NCR region has witnessed a great number of residential projects being constructed. This pace of activity is not likely to decrease in the next 24-30 months, says the report. With the Reserve Bank of India allowing NRIs to remit the proceeds from the sale of immovable property in India, thus lifting the 10 year lock-up, the future certainly looks bright for builders as well as the people of Delhi and the NCR.

Financial Planning


As investments are fast gaining importance is any earning person's life, the demand for professionals offering the same is also growing by leaps and bounds, thus giving rise to a unique career option known as – Financial Planning. Rai Umraopati Ray reports

To a layman, or a confused teenager looking for career options, Financial Planning may not sound very appealing till he gets to know the clear picture behind it. Financial Planning is one of the faster and most sought after career choices for those looking to enter the banking and financial services industry especially due to the great demand from the banks, wealth managers, advisors, mutual fund and insurance companies for qualified professional needed to impart advice to their clients.
The various career choices available to the youngsters today are galore. In such a scenario, it is natural to be curious about the viability of taking up Financial Planning as a career option. Says Anish M. Wig, Director & Chief Executive Officer, International College of Financial Planning, "There is no doubting the fact that the students who start their careers in these roles can look forward to a financial rewarding and lucrative career in providing financial advice to clients, preparing financial plans and moving up faster the organisation's hierarchy as responsible advisors and onwards to management roles. If statistics are to be believed, there is an estimated 50,000 people needed just in this field just in the next two years and over 2.5 lakh opportunities will be waiting in the next 4-5 years for qualified & certified financial planners in India alone."
Another interesting fact to note about Financial Planning as a career is that these courses are post-graduate in nature. Most of the students pursuing in finance, are typical students studying finance or pursuing third year looking to enter the financial services industry and not willing to wait two years to finish an MBA and then try getting an opportunity in the industry. Many students are generally from B.Com background although there is a growing trend among girls and those pursuing humanities to switch over to relationship management, wealth management and financial planning roles that also exist in these foreign and top Indian banks as well.
Today, more and more students are realising that it is better to take up professional courses as they greatly increase the chances of getting a job right after completion of the course. This is because the top banks and financial planning companies work closely with professional colleges to place their demand requirements with them and have first preference for selecting the best students to be their employee the moment they graduate. The trend among companies is to get qualified students, not just MBAs but pre-trained and qualified students who can be called 'plug-n-play' resources whereby the company can directly place them on the front line in roles of responsibility, inter acting with clients and assisting senior team members in preparing actual financial plans, assisting them in the acquisition of new clients and even investing in investing the portfolios.
The job prospects after taking up Financial Planning as a career are quite in abundance. Certain specialised courses like the Post Graduate Diploma in Financial Planning (PGDFP) are highly sought after by Indian and foreign banks, insurance companies & mutual fund firm which have opportunities in India and often to relocate their top performing staff for overseas operations and opportunities as well. Also specific certifications like the Certified Financial Planner CM (CFP CM) are recognised across twenty counties as the top financial planning certification with jobs and opportunities in great demand. Another major attraction is the starting salary which generally starts from Rs 4 lakh per annum and can go up to Rs 10 lakh depending upon the various skills and qualification of the students. Also, in terms of profile, it is slightly higher than what a usual post-graduate is employed for.
Adds Wig, "Companies need students with strong command of financial products, good relationship skills, understanding needs, ability to garner trust, positive aggression to build a career in financial planning along with convincing mind so that daily volatility should not affect them."
Students who want to do degree courses can go for MBA Finance from any reputed business school, which would provide them good enough platform to work in the arena. However, those looking to get into the field at the earliest to be financial planners and wants to have an edge in terms of experience can go for courses like Post Graduate Diploma in Financial Planning (PGDFP) and the Securities Analysis in Trading (PGDSAT) from reputed institutes in the country. There are about 17 such accredited institutes from The Financial Planning Standard Board in Mumbai that offers the above-mentioned courses.

Virtually Yours

The concept of eco-friendly electronically savvy homes are making waves in the Indian realty arena due to its distinct features, Rai Umraopati Ray reports

I very distinctly remember the 'tales' that my cousins from US used to convey to me on their frequent visits to India. From popular take-aways, to hip-hop music, we were alien to all. But as years passed and our good old country zoomed the western way, almost everything they used to talk became a part of our surroundings, the latest addition to which is the concept of eco-friendly electronically savvy homes popularly known as Smart Homes or E-Homes.
How many days have you passed in office worrying whether you had switched-off the geyser in the morning after your bath?? Or tensed whether your kids will be able to handle the gas aptly or not? Well, electronically savvy homes are the answer to all your queries and worries. Not only new, but a very unique concept in the housing industry in India, E-Homes is better understood as web-enabled houses that gives you the advantage and freedom to operate and handle your home even while being away from it.
Explains J.K. Jain, CMD Design Arch, which has launched two residential projects in Vaishali and Greater Noida on the same lines, "The concept of E-homes usually involves four components namely eco-friendly features, electronically savvy, earthquake resistant and entertainment. It is a complete package that aims at making life easy for our residents. From working on green buildings to technology integration to water and energy conservation, both the projects have unique features like foam concrete block that reduces the weight on the structure by 50 per cent so that the building is better equipped during an earthquake, energy efficient water and fire pump, water recycling plant, UPVC German windows etc."
By simply using your mobile or laptop or the touch screen panel if in the house, you get to know whether your air con, iron or any other electronic item is safely switched off or not, you can keep the tab on the gas being used and can also switch it on/off from where you are sitting. Draw your curtains to let the sunshine seep in or switch off the fridge when the electricity bids goodbye. So, even in the away mode, you have complete control over your apartment through your cell phone or laptop from anywhere in the world. You would instantly receive a message if there is a fire or water leakage or somebody has entered your house. Not only this, you would also get the pictures of all the visitors recorded for your access.
Keeping the hectic lifestyle of the urban populace in mind, Indian builders are also slowly and steadily treading into this segment of housing. From mere talks to sketch-board plans, the concept of such intelligent homes is now taking shape in brick and cement. One amongst the many to take the initiative is Mahindra Lifespace Developers, which has come up with their residential project Mahindra Chloris, located on NH-2, near DPS Faridabad. Their project is built on the same concept of Green Building under LEED guidelines and is safeguarded with IEC security.
Informs Pawan Malhotra, Managing Director, Mahindra Lifespaces, " It is an exciting concept. Our project is a unique residential complex that has IEC security. These homes are electronically savvy with special emphasis on earthquake resistance. The E- connectivity allows you to control the apartments from anywhere in the world. Some of its features are remote home access, video visitor tracking system, door sensor, fire detector, motion control lighting, touch screen display panel and motion sensors in bedroom.
Avers Vijay Jindal, SVP Group, whose project Gulmohar Greens has applied the theme, "With Indian realty sector getting international exposure, more new and innovative concepts are making foray into this sphere. People do look for value added services like this as it affects their daily life and make their living a lot more easy, healthy and enjoyable."
The concept seems to be a success in the realty arena as more and more developers are imbibing its features in one or the other way, but there are apprehensions like the maintenance part, its durability and efficient handling of the system, privacy as there would be a common server monitoring all these functions. Though Jain insists that, "There would be no issues as every aspect has been looked after and it would be maintained by professionals. Also we have an Intelligent Building Management System in the control room which would monitor all the activities in the premise."