5 reasons lenders can withhold loan disbursement after sanctioning

by Shelton on January 17th, 2016

filed under House Loan

It is a commonly held belief that once a home loan has been sanctioned, the borrower is home and dry in terms of securing funding for this property purchase. But do you know that the bank can withhold your loan disbursement, reduce the sanctioned amount, or sometimes even reject it totally in the post-sanction phase?

In such situations, many loan applicants feel embittered as they believe that a loan sanction letter concludes the loan application process successfully. While a loan sanction letter is a significant milestone, it is by no means the final word on loan disbursement.

Here are the top five reasons why banks may withhold or cancel your home loan after issuing the sanction letter.

Low technical value of your property: You may assume that the price of your property is final by comparing it with the price of a nearby property or by the amount the builder or seller quotes. However, banks are not bound by these rates or quotes. They have their in-house team of experts who do their own property valuation based on various factors like age of the building, the quality of construction, market value, locality, accessibility to the plot, etc, to come to a final value.

Sometimes, banks conclude that the total valuation of the property is lower than the amount sanctioned by them. In such a scenario, they have no option but to either reduce the sanctioned amount or withhold the loan disbursement.

Legal dispute concerning the property documents: Banks offer loans to properties with a clean legal title. Sometimes, if the bank realizes after sanctioning that the property has a pending legal dispute or a legal attachment to it, that can be a reason for loan rejection.

The bank’s legal team traces all associated documents of your property in detail. If your property is found to have any legal issues or complications like a minor right, stake of other financial institutions, heirs missing, etc., associated with the title deed or with its prior title deeds, they are likely to reject the loan or hold it.

Late negative field investigation report: Banks do a physical background check on every loan applicant. This includes checking your personal and professional details and it is often carried out by professional external agencies.

Sometimes, the field investigation report reaches the bank late, after the loan sanction letter has been issued.

So, if the bank finds out that the field investigation report for you is negative due to any reason, they have all rights to cancel the loan. To avoid such a situation, make sure that you apply for a loan with all the right details and without hiding any financial or personal obligations as sought by the bank.

Processing fee cheque bounce: Processing fee is an important component for your home loan and is usually paid through cheque. Banks charge between 0.5 and 1% of the loan amount as processing fee on an average. Processing fee charges are not refunded even if your loan gets rejected.

But sometimes, the fee cheque goes for collection after loan sanctioning. If your processing fee cheque bounces for any reason, your loan stands a high chance of being rejected.

This is because loses their confidence in you as a trustworthy borrower for future repayments. So, plan the payment for processing fee charges and ensure that your savings account has sufficient balance.

Buying property from a non-approved builder: The builder involved in your property purchase also plays a significant place for your loan approval.

If the bank finds out that the builder is either blacklisted or non-approved with the bank, the bank can withhold your loan disbursement. Always check the credibility of the builder before you apply for a home loan . Home loans may have become simpler and easier to get, but do not always rely on your loan sanction letter. Ensure you take the above precautions so that loan disbursements are smooth and timely.

The writer is CEO, BankBazaar.com

HISD Board Approves Extra $212M For Bond Program

by Shelton on January 2nd, 2016

filed under House Loan

The Houston school board has approved a new infusion of cash for the districts troubled school construction program.

HISD trustees approved an extra $212 million to cover an expected construction budget shortfall.

Outgoing trustee Juliet Stipeche cast the lone dissent and wanted to wait for more examination of the troubled bond program.

Voters approved almost $2 billion in school projects in 2012 but the massive undertaking has run into budget problems.

HISDs interim chief operating officer Lenny Schad says that the bond team needed authorization for extra funds to stay on track and get better priced contracts.

Other trustees said the extra taxpayer money is like getting more on a car note or house loan when the price increases. 

Students also supported the measure, pleading for better conditions at Davis High School, like working water at science labs.

While the extra funding covers the shortfall, it doesnt completely resolve another question: why the bond program is facing a funding gap.

An internal audit found examples of mismanagement and lack of competitive bidding, but HISD maintains its because of inflation and rising construction costs.

In November the HISD board hired consulting firm KPMG to audit the construction projects to find out more.

At the December meeting the trustees also approved a $70,000 contract for an Iowa based search firm to find a new superintendent to replace Terry Grier. Hes leaving after February. 

They also voted to keep suspensions for young children as a last resort.

PM Narendra Modi seen pivoting from roads to fields in next budget

by Shelton on December 27th, 2015

filed under House Loan


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Plan for the future

by Shelton on December 26th, 2015

filed under House Loan

About 20% of a workers salary is used to pay for petrol or public transportation. If the worker has a house loan, another big chunk is taken away, Selvaraj illustrates.

He also proposes that the Government set up a financial education commission to build financial knowledge and skills among young people.

Selvaraj says people should also track their expenditure so that they know where their money goes and can cut back on unnecessary items.

Credit Counselling and Debt Management Agency (AKPK) CEO Azaddin Ngah Tasir says workers should voluntarily tuck away about 10% of their salaries for long-term savings, on top of the 23% set aside from their monthly wages by the EPF.

This means about 30% of a persons monthly salary is for the future. AKPK also recommends against people having monthly loan repayments exceeding 40% of their monthly income, he says.

Azaddin observes that current lifestyle pressures are different from the past, such as the demand for expensive coffee among the younger generation today.

Last time, earning RM5,000 a month could provide a comfortable life, but now the same amount is easily spent on a variety of costs. Loan repayments for cars, houses and rental of properties are also higher today, he says.

Based on data from the AKPK in September, poor financial management is cited as the top reason for debt problems among Malaysians.

This constitutes 22.1% of total default or debt problems, followed by a failure or slowdown in businesses at 16.7%. High medical expenses (14.2%) is also another factor while other reasons are losing control of credit card usage (10%), retrenchment (9%), and the high cost of living (7.4%).

Malaysian Trades Union Congress secretary-general N. Gopal Kishnam attributes the lack of savings among young Malaysians to the relatively low salaries paid here.

The Government needs to come up with proper policies to increase wages so that there is enough for expenses and savings, Gopal Kishnam says.

He says a large number of workers withdraw their salaries within a few days of it being banked into their accounts to pay off loans and other expenses.

Having EPF savings alone is not enough. If our income is not even enough for survival, how are we going to save? he questions.

For Malaysians to have more disposable income, Malaysian Employers Federation executive director Datuk Shamsuddin Bardan suggests that there should be a reduction in monthly EPF contributions by employees.

Maybe for the time being, the percentage of income that goes into an employees EPF account could be reduced. Hard times require hard measures, he says.

Shamsuddin suggests that the Government also allow employers to contribute more EPF savings for their workers instead of capping the limit at 19%.

Some caring employers contribute up to 19% to their workers EPF accounts. But why should it stop at 19%? If some companies want to give more, why stop them? he asks.

Independent financial adviser Yap Ming Hui stresses that one of the most important habits that Malaysians should have now is to stick to a proper budget according to ones income. He adds that a high income does not guarantee a debt-free life.

Some people believe that just because they earn RM20,000 or RM30,000 a month, they will not have a problem. But your expenses can still exceed your salary if you are not careful, he says.

Yap says there is too much temptation for Malaysians to spend on, especially for Gen Yers.

Sales and promotions are quite frequent here. A lot of expensive and attractive items are in the market, like smart phones.

If we couple that with the convenience of a credit card, it is very easy to overspend if you do not control yourself, he says.

A good rule of thumb that Yap believes every Malaysian should have is to save something, no matter how much or how little one earns.

Such habits should be cultivated from young to counter the temptation to spend, he says.

Related stories:

Strapped for cash

Measures to help EPF members

Stone County a great place to live or visit

by Shelton on December 25th, 2015

filed under House Loan

Stone County is a beautiful, peaceful and oftentimes overlooked portion of the Tri-Lakes Area that has many places of interest, as well as terrific dining, retail, schools and worship options.

More and more people are discovering its beautiful Ozark Mountain surroundings, neighborly small towns and laid-back lifestyle.

Southern Stone County’s communities such as Kimberling City, Reeds Spring, Indian Point, Branson West, Cape Fair, Lampe and Blue Eye areas offer access to beautiful Table Rock Lake, and central and northern towns and villages, such as Galena, Hurley and Crane feature rivers, streams and rolling pastures among the hills.

Its total land mass consists of about 464 square miles, according to the US Census Bureau, and is home to approximately 31,000 people. An interesting statistic, also according to the bureau, is that the population is about 51 percent men to 49 percent women. It would be hard to get more convenient than that. The median income is right at $41,000.

People living in Stone County reported in 2014 that about 86 percent have lived in their homes longer that one year and, based on the 2009-2013 Census, roughly 87 percent have a high school education or higher.

In short, Stone County is a wonderful place to live or visit and many have yet to explore its assets.

Table Rock Lake has numerous places in Stone County to fish, camp, swim, boat and ski. Scuba diving is available at Indian Point Dive Center in Indian Point. Thousands visit Silver Dollar City each year, you can golf at the stunning Ledgestone Country Club at Stonebridge and customers can still order a delicious twist cone in one of the area’s oldest businesses.

Pop’s Dari Dell, home of the Twist Ice Cream Cone, has been in business since 1958 and owned by the current family for more than 40 years.

Pop’s carries a wide variety of foods, including about 48 sandwiches, chicken, fish, burritos and many others.

Pop’s Twist cones come in vanilla and chocolate or you can order vanilla with your choice of as many as four of the eight different Flavor Bursts available at any given time.

Second-generation family member and owner Dale Minscer, Jr., said there are 258 different flavor combination that can be created with eight Flavor Burst cones. Make it a goal to try all 258 combinations at Pop’s located at 22527 Main Street in Reeds Spring. The restaurant will close Dec. 21 and reopen during the first week of January. Call 417-272-8290 for more information.

Meme’s Antiques amp; Country Cafe, also in Reeds Spring and owned by Judy Thornton, “makes you feel like you’re coming home to grandma’s.”

Thornton offers a menu consisting of delicious Chicken Bruschetta, open-faced roast beef, homemade chicken and dumplings, chicken fried steak, meatloaf and much more.

While you are there, you may spend time shopping or simply looking around at all of the unique items displayed or for sale in the store. You are sure to be satisfied with the entire experience.

Meme’s is located at 17 Spring Street in Reeds Spring. Call 417-272-0009 or visit them on Facebook at facebook.com/memesantiquesandcountrycafe.

One Body Pilates amp; More, owned by Cindy Gortman, teaches the Stott Pilates method.

Pilates is a contemporary approach to the original exercise method pioneered by the late Joseph Pilates. The founders of Stott Pilates, along with a team of physical therapists, sports medicine and fitness professionals, have spent more than two decades refining the Stott method of exercise and equipment. This resulted in the inclusion of modern principles of exercise science and spinal rehabilitation, making it one of the safest and most effective methods available.

Strengthening the stabilizing and postural muscles is key in Pilates. Pilates doesn’t just build strength in the large muscles, but works deeper to the smaller muscle groups. By strengthening the stabilizer muscles, Pilates exercises improve stability and this helps improve balance.

One Body Pilates is in Branson West at Claybough Plaza at 11016 State Hwy. 76, Suite 10.

For more, call 417-272-8400, or visit onebodypilatesandmore.com or Facebook at facebook.com/OneBodyPilatesMore.

Wedgewood Gardens Assisted Living is a family owned assisted living facility at 17996 Missouri Business 13 in Reeds Spring.

They believe you will experience a value in Wedgewood Gardens not found in other assisted living communities.

Their package for every resident includes all three meals and snacks; medication administration, management and ordering; nursing care assistance; 24-hour monitoring and assistance; personal laundry services and housekeeping; social interaction and both in-house and outside activities; concierge services, including transportation to activities; assistance obtaining physician-ordered therapies; and all utilities, even cable. They are children- and pet-friendly.

Wedgewood Gardens recently won an award for “World Class Staff.”

Call Wedgewood at 417-272-6666 or visit wedgewoodliving.com.

Table Rock Community Bank is the locally owned bank that has two convenient locations in Stone County in order to better serve the community’s needs.

The expanded mortgage department means all loans are written locally, resulting in fast, in-house loan decisions. The bank’s team of lending professionals is ready to assist in finding the perfect loan for each person.

Totally Free Checking is really free. If you don’t want to keep a minimum balance in your checking account, then free checking could be the account for you.

Online Banking Made Simple is being able to initiate routine transactions and conduct research anytime, from anywhere. Customers can view account balances and transaction history, view account alerts, initiate account transfers and pay bills, whether using a computer, tablet or phone.

In Kimberling City, go to 1 Wildwood Lane or call 417-739-9300. In Branson West, go to 19014 Bus. 13 or call 417-272-9300 or visit trcbank.com

Leona’s Deli at 14894 Bus. Hwy. 13, right at the Branson West-Kimberling City line, has great food, low prices and friendly service.

After 10 years at the current location, Leona’s will move to a new home right across the street, to 14981 Bus. Hwy. 13.

Leona is an excellent cook and many regulars particularly enjoy her homemade soup of the day, and several of the sandwiches, although there is a wide variety of items on the menu that are all especially tasty.

She serves breakfast and lunch and always has a delicious homemade dessert available to purchase.

According to one of her customers, Leona’s is without a doubt the best place on Highway 13 for breakfast and or lunch. Food is excellent, the quantity is correct and the service is above reproach.

Call Leona’s at 417-739-DELI (3354), and remember, she will close Dec. 23 for the move and will reopen sometime in January. Search Leona’s Deli on Facebook for updated information.

Morningside is a place of worship and fellowship where people gather together to study God’s Word in church and in homes.

Morningside is also the home of the daily broadcast of “The Jim Bakker Show.” The show is an hour-long daily broadcast that is aired throughout the world through multiple broadcasts on Direct TV, Dish Network and other worldwide satellites.

In January 2008, Bakker moved the ministry and daily program to Morningside in Blue Eye on 700 acres in the Ozarks hills.

Part of Morningside is the rustic two-mile long Peaceful Valley with springs and streams of water with picnic tables and cabin homes. This valley is also home to the beautiful Tabernacle, which is home to Morningside Master’s Media training school.

If you come for a day or a lifetime, there is a place for you at Morningside.

There is also an RV Park and Wilderness Campground available, as well as condo rentals.

Reservations are not required to join “The Jim Bakker Show” studio audience and seating is free. Tapings may last up to six hours and audience members may stay for any portion.

Morningside is at 180 Grace Chapel Rd. in Blue Eye. Call 417-779-9000 or visit jimbakkershow.com/morningside.

Maple Hill Restaurant at 8089 W. State Hwy. 86 in Cape Fair has many customers that love the food and service.

One customer said Maple Hill has “very good service and delicious food. The people were so friendly and the atmosphere was really very homey. We will be stopping in there every time we are past that way.”

Another said, “Can’t wait to get back up there and visit. Biscuits gravy for breakfast was fantastic.”

Yet another said, “I give Maple Hill five stars. We eat there every chance we can.”

Maple Hill is sure to have great food, service and blackberry cobbler in a friendly family atmosphere at an reasonable price.

Call 417-538-2355 or search Maple Hill Restaurant on Facebook.

Suzie’s Mid-Town Cafe is described as having traditional American-style food with a hint of southern. The restaurant is owned by a US veteran family who support all military service members, past and present. They serve good home cooking at breakfast, lunch and dinner. The menu is basic, including some specials with fried chicken, barbecue and catfish, but according to the menu, some are out of this world.

Suzie’s is located at 22221 Main Street in Reeds Spring.

Call 417-272-0410 or search for Suzie’s on Facebook.

Papouli’s is Reeds Spring’s Greek and American restaurant.

They serve classic Greek dishes and, according to customers, add a personal twist on American favorites.

Many mention the cashew chicken, prime rib and huge margaritas. Others talk about the pork loin, moussaka and fried eggplant.

All say the food is fantastic and Papouli’s has been at this location for decades. If you haven’t eaten there, you are missing out on a local legacy.

A testimonial from one customer said, “My husband and I had our first date here 20-plus years ago and have been coming for our special occasions ever since. The service is excellent and food is magnificent. The owner is a delightful woman, who I believe they call Mama, that was there tending to everyone. We want to recommend that if you have never been here, make time to try this wonderful place on your next night out.”

Papouli’s is at 725 State Hwy. 248 in Reeds Spring. Call 417-272-8243.

Reeds Spring Pizza Co. is also in Reeds Spring at 22065 Main Street.

The website states, “Once upon a time… A French woman, by the name of Flavie (Flaw-Vee), walked into the small town of Reeds Spring and had a vision. Digging deep from within her French heritage, Flavie drew up plans for the Italian sensation, The Reeds Spring Pizza Co. After crossing paths with some great cooks, and with the help of her husband, Paul, and her three daughters, Flavie finally brought her vision to life. Now the pizza shop has been voted “Best Pizza Parlor in Missouri” by USA. Today, it’s a local favorite, and hosts many events, which include live music, stand-up comedy, and the showing of classic, award-winning films.”

The restaurant was also named 2013 Trip Advisor Certificate of Excellence winner.

Call 417-272-3507 or visit reedsspringpizzaco.com.

El Lago is the new Mexican restaurant in Branson West at 18942 Bus. 13, across the street from Hardee’s.

El Lago boasts a full bar and features daily specials and now has punch cards so customers can earn punches toward future discounts and they are open all winter. See the coupon on this page for a great Mexican meal for a great price.

Call 417-272-8910 for more information.

Billy Gails is a local icon.

The restaurant offers a down-home breakfast and lunch and is known locally for its jumbo pancakes served on a plate and the size of hubcaps. Customers order a full stack and try not to “tap out” before the stack is finished.

Billy Gail’s is operated by Gail and her son, Randy, who offer “country comfort grub,” according to their Facebook page.

Yelp.com says, “Billy Gail’s is a legendary place to eat breakfast in Branson …”

Billy Gail’s is located at 5291 Missouri 265 in Branson. See the Customer Appreciation coupon on this page for a very nice discount.

Call 417-338-8883 or search Facebook for Billy Gail’s.

Enterpreneurs present at CodeWorks Demo Day

by Shelton on December 23rd, 2015

filed under House Loan

The best and brightest lights on the Knoxville software stage were shining at the first CodeWorks Demo Day and Black-Tie Hacker Holiday Party at the Southern Railway Station Thursday night.

For the founder of the six software startups that just completed the 12-week CodeWorks boot camp sponsored by the Knoxville Entrepreneur Center, the event was a holiday party, a graduation ceremony and a chance to pitch their ideas to potential investors.

They all worked very hard to get here, said Jonathan Sexton, entrepreneur in residence at KEC.

Some of the startups had to improvise, adapt and overcome as they worked their way through the program. Software engineers are somewhat unique in that they must be able to turn on a dime, Sexton said.

Jim Biggs, executive director of KEC, told the group the Knoxville community has been blessed with resources to support startups including the mentors that accounting firm Pershing Yoakley and Associates provided to guide the startups and the support of Angel Capital Group, the largest venture capital company in East Tennessee.

Entrepreneur Zhanna Krotova, who is trying to launch a company that makes fitted sheets for the hotel industry, came to the event to network and to try to recruit someone who can help her market her idea. She said KEC has been a great resource for her company.

Representatives of each of the companies that completed the CodeWorks program gave short presentations to the audience.

PYA and some smaller local accounting firms are serving as beta test sites for software from Financial Cents, a startup that aims to help small businesses understand how well their business is performing compared to their competitors, said CEO Shahram Zarshenas.

The numbers on financial statements dont always tell how well a company is doing, he said.

He said he was inspired to create the product after watching his own fathers business struggle with issues such as growth and profitability.

StudyLoop is a collaborative application that helps students make connections and share information about their classes. Collaboration can be difficult with large classes, said founder Sam Rose.

The software would be offered free to students and would generate revenue with additional features and ad revenue created by the sale of promotional opportunities for sponsors called Brand Bots, Rose said. As of December more than 50 students have signed up to use the product. By springtime as many as 25 percent of UT students could be using the product, he said.

Appvalet CEO George Andrejko said the CodeWorks program helped his company go from no product to having paying customers in just 12 weeks. His company is targeted at helping develop user-generated content and applications for the fast growing Apple TV user market.

We provide a self-service platform that allows non-developers to create, customize and publish tvOS apps without writing a single line of code. Were the WordPress of Apple TV, he said.

MathLeap is a feedback and assessment tool that could change the way math and science are taught, according to founder Gareth Aye. He said the product will allow teachers to give better feedback to their students. The key to marketing the product is to establish traction in the teacher community, he said. In 2016 the product will be beta tested in Knox County Schools. The opportunity includes 3.5 million K to 12 teachers in the US Fey said he is looking for investors in the range of $750 to hire more software engineers and increase the number of topics the software can support.

Applying for a house loan can be a confusing and difficult process, according to Kris Hogrefe, founder of DuoLogix. A veteran of the mortgage loan business, Hogrefe said his application for Apple and Android devices will create a simple, organized and secure platform for mortgage brokers to communicate with their clients.

Although there are competitors in the market, there is no other solution that is as simple to use and as secure as the DuoLogix platform, Hogrefe said. He said he plans to connect with mortgage brokers in the Knoxville area, then spread to East and Middle Tennessee and beyond. He predicted his company would be profitable the second year.

The only woman in the class of entrepreneurs, Alicia Caputo, CEO of Avrio Analytics, said her product will deliver the promise of Big Data by delivering analytics to a broader section of small business. The software will allow companies to generate predictive models based on data without requiring data science expertise.

Caputo said her efforts to launch the company were greatly enhanced by the experience of working with KEC and the CodeWorks program. She is seeking $500,000 for software development, operations and marketing.

Following the presentations the crowd was treated to a few skits performed by local comedy troupe Einstein Simplified. Shark Tank Simplified parodied the Shark Tank show popular with entrepreneurs and inventors. The would be entrepreneurs pitched ideas such as Sarcastalic, a new font that lets readers of text messages and email know you are being sarcastic. Not surprisingly, potential investors played by members of the troupe balked at the opportunity.

Are you an HNI? here are 5 ways to save your tax

by Shelton on December 22nd, 2015

filed under House Loan


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Find Expert Mortgage Loan Professionals to Meet Your Economical Requirements

by Shelton on December 21st, 2015

filed under House Loan

Nowadays you can find a lot of
organizations those offering the best House loans solutions to the people. In
Sydney, you can find several House loan organizations those provide loan
features for the clients can use. But House loan Company is one of the most
reliable and famous brands that is used by people. This is a Sydney owned
broker and mortgage service agency. Since 2003, this organization is renowned
for its reliable features and solutions regarding mortgage loan features. Till
now, this organization has provided more than $720,000,000 worth of loan to
different lending institutions, banks and other private institution creditors.
This well-known organization has almost 40 creditors on its panel, and their
staff has all the detailed and current idea of all the different products and
policies. The associates of this organization are well-trained, and they have
all the information knowledge regarding the Privacy Act, National Client Credit
score Protection Act, Uniform Client Code guide lines. House loan Suppliers is
a complete package of talented associates of the House loan and Fund
Association of Sydney. It provides different kinds of loans to the clients can
use at a good attention rate.

If you want to do professional
Company Loan for your house based business in Sydney, then House loan Suppliers
is the best option for you. This organization offers you the loans at a good
attention rate and gives sufficient time to recover that amount borrowed. This
loan can be sanction for any home-based business, shopping mall factories or
warehouses reasons. As per the basic rule, in this loan the creditors price
these types of loan by using a bill amount. This amount is fixed by the cash
market and the cost of the cash to the lender that is selling the funds.

Mortgage Suppliers provide best
professional Loan that is suitable for different professional business.
Commercial loans have so many similarities to the loans but it can be more
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you back than the other home loans. The main reasons behind this much will the
transaction nature. But a better deal and sum of cash for financed can make the
attention rate of economic mortgage cheaper than home loans.

It is a reliable organization
and provides loans for different purposes. You can easily get loan within few
days. The associates of this organization are quite cooperative and always
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These are some extraordinary
features you can get from this organization. In Sydney, most of the businessman
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If you want to get a loan for
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Click here for more information on
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Festive season home sales lacklustre

by Shelton on December 19th, 2015

filed under House Loan

Home sales during September-November, the period during which several festivals fall, chief of which is Diwali, did not see a major upsurge. Though the actual sales number will be known only by January, the industry estimates that it was business as usual with builders with repute and execution record managing to sell apartments.

Ashutosh Limaye, head of research, JLL India told FE that new launches from known developers, and projects that are nearing completion have seen good sales traction, beating the general perception of a slowdown in home sales.
For instance, Mumbai based real estate developer Oberoi Realty sold 68% of its project, ie 543 apartments of the 800 units launched in Oberoi Sky City in Borivali, within the first two days of its launch between October 30 and November 1, about a week before Diwali.

This, despite the fact that the company priced its offerings, starting at Rs 2.5 crore, which is considered premium for the suburb in the north-west part of Mumbai Metropolitan Region (MMR).

Similarly, Godrej Properties said it sold 300 apartments within a week of launch of its flagship project The Trees, in the eastern suburb of Vikhroli. The company launched 374 apartments on November 26, in the first phase, and says the value of apartments sold is in excess of Rs 700 crore. The pricing of apartments (average of Rs 19,000 per sq ft) is again on the higher side for the suburban market. The ticket price of the apartments is starting at Rs 1.7 crore. IDFC Securities in a recent report estimated total sales potential of around Rs 7,000 crore from the project in the next 5-6 years.

Another project launched in September, Piramal Realtys Vaikunth in Thane, the first residential project from Ajay Piramal-led group, has seen brisk sale of apartments priced within Rs1 crore. However, bigger apartments with ticket prices going north of Rs 1.5 crore, are getting sold at a much slower pace, sources said.

Overall, Limaye said that enquiries have gone up significantly, as was visible from the response at property exhibitions held prior to Dussehra-Diwali season.  “Bookings are also happening, and we expect the sale numbers to show a marginal improvement over the last years festive season,” he said. He refused to put numbers to the possible growth.

However, the fact that the launches, even from reputed developers have remained far and few between, and restricted to mostly MMR market, goes on to show that all is not well.

Based on data sourced from PropEquity, the number of units launched in 2015 during September-November are expected to be 30% lower on a year-on-year basis, a trend which has continued since 2013. In 2014, the blow to developers was even more severe as sales dropped 41% to 7,642 units following a steep 47% y-o-y fall in the number of homes on offer.

Builders, however, are not perturbed by continuing lackadaisical response to sales in festive season. They are hopeful that once the rate cut benefits are passed on to the customers by banks, home sales will rise. Dharmesh Jain, president of MCHI-CREDAI and proprietor Nirmal Lifestyle said that while the festive season sales were “slightly better” than last year, going forward it should be good.

Niranjan Hiranandani, managing director, Hiranandani Constructions said that he does not see buyers decisions getting influenced by festive season, though he termed this years festive sales as “good” for his own company. “It is a fact, that festive season have traditionally seen higher home sales given the auspicious tag attached to the period, but when a buyer makes a decision would think more on his ability to afford and pay for the house which he or she wants to buy. We think that will happen once home loan rates become cheaper, which should be soon”.

The broker community, however, is sceptical of any recovery in sight. Yashwant Dalal, president, Estate Agents Association of India said that prices of houses are unaffordable and out of reach for majority of people, which is keeping buyers away. He said that the festive season this year too was no different, as people continue to wait for prices to come down.

Short Story: Psychiatrist

by Shelton on December 19th, 2015

filed under House Loan

December 13, 2015

The Psychiatrist looked at the door which was notorious for making a funny noise when opened. It disturbed him as he was busy reading.

Three men walked in.

Good evening doctor, the oldest of them said.

Dont you know that you need to knock the door before you enter? There is even a board hanging outside which tells you to do so. We hung it only a few days back, the Psychiatrist said without greeting back.

We knocked many times. You may not have heard, replied the oldest.

You may have knocked. I did not hear as I was very busy. Before you walk in, you need to make sure that there is no one here except me. The Psychiatrists anger did not subside.

Doctor, only after making sure that you were alone, we moved in. The old man was good at arguments.

Please do not argue. Anyone can come here, but only with an appointment.

We phoned for appointment and there was no reply. You had a secretary here who is not seen today.

That means you have come here before. Yes, I had a secretary who is on leave now. Thats why so much of confusion. Are you the patient?

Do only patients come to a Psychiatrist? I am not a patient by any means. Every time I came here I brought others. I am a Social Worker. Sometimes I sat outside. I may have come to you twice.

You may not be a patient. But someone who comes to visit a psychiatrist is a patient in some way or the other. There should be a patient among you three. Who is that?

This young man, the old man said, pointing his finger at the youngest.

So you brought him here. Why the third person?

He came along with us since we came from a village. This man cares about this young man and me too. How could we tell him not to accompany us? Should I send him out?

Absolutely, three people are not required here. And if you feel like it, you can also go out.

I will not go. I want to follow up this young mans case. But only if you do not mind. The oldest paused and addressed the middle aged third person. Please go out.

The middle aged man obliged.

Whats your problem? The Psychiatrist spoke. Tell me briefly. I do not like stories. I understand everything.

Can I talk or him? The old man intervened.

As long as there is truth anyone can talk. But finish as soon as possible. I have other appointment.

I will talk, Said the young man. I know my problem better than anybody else.

Talk…But in brief.

Yes. I want to tell you as briefly as you wish. I have fearhellip; Lot of fear… I experience it every now and then. I am afraid that I will collapse… And that I will vomit blood and I have chest pain every now and then.

Tell me your family history.

My great grandfather died at the age of hundred. Grandpa died at eighty. Then they said our family lived longer.

Is your father alive?

No. he died at the age of sixty. I was thirty then. I suddenly realized that our lifespan was coming down by twenty years. Hundred, eighty, sixty, and mine fortyhellip;twenty years gap. I am nearing forty now. I did not think much about it in the last ten years. Now I feel that I may die anytime.

You are going by mathematics. Nothing happens as you imagine. I want to know whats happening inside your body, not only in your mind. If a man has some fear about death in his mind, that will affect his body as well. So you need to correct your mind first and look after your body. Do you have any bad habits?

For the first twenty years I did not have any bad habits.

Fifteen to twenty years is the time a person embraces bad habits. Some people are exception. They start a bit late.

I first smoked after I was twenty. My father smoked heavily. So I did not want to smoke. I hated that bad smell. But one day I thought we are blessed with long life and bad habit might not affect me. But I did not smoke much and never touched alcohol then.

You drink now?

Yes, I drink everyday,

Cigarette and alcohol increase the cholesterol in the blood. Are you aware of that?

Yes I know. I read a lot. Sometimes I feel I have hypochondria.

Hypochondria is a fear of diseases. It is the disease of the mind. I am happy to know that you have read about it. Even if you catch cold you think it can be cancer. There are thousands of diseases in the world. But symptoms are few. Ordinary person does not understand this. By talking about diseases with others, by seeing people who are dear suffering and by seeing their symptoms, we feel that we are also affected.

Hypochondria affects not only the ordinary people, but the educated too. The more you know about some diseases and their symptoms, you are more likely to have fearhellip; Especially doctors have this more oftenhellip; Thats what I feel.

Lets not discuss this anymore, the Psychiatrist intervened and said, You mean to say all doctors have it including me? There was some anger in his tone. You do not have hypochondria my dear young man. You are suffering from anxiety disorder which is also called agoraphobia. How is your general health?

Everything is fine. I have done all the tests. ECG was also taken.

ECG tells the history. Only tread mill test can predict the future.

I did that also.

I will prescribe you some tablets. Take them in the morning and at night as prescribed. They are only tranquilizers. You feel dizziness for some time. Mind you these are not sleeping pills. They will bring down your anxiety. Please come back after fifteen days for review.

So you diagnose him with anxiety disorder, the old man who was sitting without uttering a single word for a long time spoke. I also know a bit of psychology.

The Psychiatrist got angry.

Everybody knows a bit of psychology, the Psychiatrist said, You cannot come to a conclusion at once while diagnosing.

How much do we owe you? the old man asked ignoring what the psychiatrist had said.

I do not work only for money. I am also into social work like you, but in a different way. Two hundred rupees please.

The old man and the young man went out.

The Psychiatrist felt relieved.

The Psychiatrist had told three lies – first, that his secretary was on leave. She had left because she was always paid late and she did not like her job as it was boring. Second, that he did not work only for money. As of late that was his only intention. Third, that he had another appointment. He did not have any for that evening.

At the age of thirteen, the Psychiatrist started reading the books his father had bought. He liked all the books. But he liked those on psychology and on Sigmund Freud more.

Sigmund Freud is called the lsquo;Father of psychoanalysis. All his theories may not be true. But one fact which no one can deny is Sigmund Freud was the one who laid the foundation for systematic psychology.

The Psychiatrist as a boy did not understand anything about psychology. He was too young to understand these things. Yet his subconscious mind grasped many things on Freud and his psychology.

The Psychiatrist was good in studies. Though his father was not very rich he made sure his son completed his 10th standard. He used to buy many books, most of them on psychology. The young boy never knew why his father was so interested in that subject. He only read as much as he could, which his subconscious mind would store.

He took science after his 10th standard. He never thought he would become a doctor since it required a lot of money. His merit helped him to get a free government seat. He completed his MBBS. His colleagues either started practicing or went for higher studies. He wanted to pursue his higher studies only in Psychiatry. But no seat was available in any nearby medical colleges. He got a seat in the state capital city which was quiet far from his town. He was forced to go there as he did not like any other subjects.

He passed psychiatry with distinction and started working in a medical college as Professor during the day. He opened an evening clinic as most medical professors do. In the initial stage few would visit him. But later more came for consultation.

He married a dentist after a few years. The Psychiatrist did not have many ambitions in life except to make a good name in the society. His wife came from a very rich family. She started working for a dentists clinic. After two years of marriage she bore a girl child, after which she stopped working. But before she could join work again, she was pregnant with another girl. So there was a gap of four years in her career. The money the psychiatrist brought home was not sufficient for her.
I have to look after two girls, she always complained.

You are also working now… Buthellip;, The Psychiatrist would reply.

Yes I work now, but after so many years of break. What if I was a home maker? So many doctors have home makers as their wives. And what I earn is spent on our children. I want our girls to get educated in a good school. Only because of these problems I am working part time now. As a husband its your duty to work hard. You should save more for your children.

The Psychiatrist would explain a few things to her as he would to his patients.

I do not want any classes on psychology at home. I am not your patient, she would say angrily.

We have everything. Tell me what do you miss here? I was brought up in a poor family. I am happy now. I am a content person.

But I was not poor. We had much more than this.

Thats why I tell you that you have enjoyed life. Dont worry. After some days of hardship everything will be ok.

How could everything be ok? She never spent anything on household expenses except to treat her brothers and sisters. Every household expenses were paid by the Psychiatrist, be it school fees, house loan, car loan or anything. His whole salary was spent on these things.

At his clinic he would not get much. If anyone was poor he would not charge. After paying rent and electricity bills he would remain with nothing. He did not even pay his secretary on time as he always had a cash crunch.

He asked the doctor next door to help him with his secretary.

We are always busy. Wish I could help, the busy doctor said.

Yes, the doctor next door would get hundreds of patients a day.

The psychiatrist started developing mild jealousy about other doctors. Jealousy is one of the virtues of a person well explained in psychology. It is said that saints, priests and some enlightened people overcome jealousy. But it is not necessary that a person can overcome jealousy just because he has knowledge of jealousy.

His thinking now was not different from an ordinary person.

Words like profession, clinic, patients, psychiatry, life, money, wife and death started troubling him. Why even death? Inferiority complex started invading him.

His thinking upset his mind. He would go into mild depression. If the mind is not well it affects the body. While someone has anxiety and depression for a long period, the problems turn into psychosomatic and the pain can reflect in the body. And any part of your body can ache if you feel its aching. When you think your finger is paining, you feel it. When you think your stomach is paining, you find pain there.

He started getting acidity and headache every now and then. Its easier to prescribe medicine to others. But not for self. He took the tablets he thought were good. Sometimes he took tranquilizers like Ativan. He would get relief after taking tablets.

Why did I do MD in psychiatry? I could have done in ortho or any other subject, he started thinking.

But whats the guarantee that he would have succeeded in his profession had he taken up other subjects?

The situation lasted for days without any improvement. The Psychiatrist phoned the renowned Psychiatrist of the town. He knew him very well though they hardly spoke. He asked for an appointment and requested him to keep it confidential. He managed to get the appointment the following evening at eight.

If it was with me, he would have got an appointment immediately, he said to himself and laughed loudly.

All psychiatrists are the same. They all learn psychology. He could have gone to any psychiatrist. But he had decided to go to the renowned and number one psychiatrist.

Yes. People do not come to me because I am not famous. And if I myself want to visit only the famous, what about ordinary patients? He just thought about the appointment episode.

He got all the reports done during daytime itself as he was aware that he would be asked. And above all he wanted to satisfy himself with the new report.

He reached in time.

Good evening doctor. I am afraid that the doctor is very busy. You will have to wait for another half an hour at the maximum, the secretary at the desk said.

He looked at her. It was his former secretary who left him a few days back. He recognised her.

Doctor, I have got a better job here and I am always busy, she laughed.

Better job and always busy hurt him a bit. But even as a psychiatrist he did not understand that she was mocking at him.

He sat on a chair in the waiting room. He found two people who he knew well. He became restless seeing them there. He tried to avoid them by holding an old magazine against his face and pretending that he was busy immersed in reading. These people know me well. And they do not come to me, he said to himself with anger.

How are you doctor? Why you are here? One of them said.

Well, I have a small discussion with this doctor, the Psychiatrist said.

The renowned psychiatrist was seeing the other person from his same profession. So he did not ask many questions. But he had to say something. So he said, Every person on this earth including you has some fear. I have seen all your reports. So I rule out any physical problem in you. I prescribe you some medicines. You will recover.

The renowned psychiatrist did not write the prescription but only mentioned the names of medicines.

The same stuff. Same medicines I would have given to others. Waste of time, thought the Psychiatrist.

One day while he was busy reading a book the old social worker walked in. He had come with another youngster.

Almost like the previous case, the social worker said. The psychiatrist listened carefully to the youngster, wrote the prescription and talked: Young man, do not even think about dying. Think positively that you will live. Try to come out of your problems. There are many ways out. If you believe in God, just pray. Spend your time with friends instead of lying around at home. Nobody can decide death. You are very young. Be positive.

The Psychiatrist remembered about the other youngster who had come last time.

How is that young man who came here last time? The Psychiatrist asked the social worker.

Not bad, replied the social worker. Now he is better. I was told he went to a psychiatrist for second opinion. I was told he was very famous in town, but I cannot recall his name.

Why second opinion? Am I bad? Is my education wrong? Did I study at the wrong medical college? Why did you bring this man here? Just because it is cheaper here? The Psychiatrist shouted in anger.

The old man asked the youngster to leave the room and once he left, talked slowly. Dear Doctor… Do not get angry, please. You are a good doctor. Thats why I bring people here. Every person is not successful in his profession. I also studied a lot. See what I am doing? That too without any remuneration? But I am happy.

There was heavy fight at the Psychiatrists home. The problems aggravated. His wife started fighting about the future of their children. She kept on nagging about lack of resources. The Psychiatrist explained to her that she should not talk about the future as it was far from the present. She did not seem to understand him.

Yes, when mind is not well, body cannot remain fit.

He read many books on death. He knew all the reasons which led to death – smoking, diabetes, hypertension, the life without exercise, the history of the family, tension, depression, wrong life style etc. He read about the cause of death, mainly the most prevalent – heart attack.

Everything was in his favour. He did not smoke nor drink. He walked every day. He did not have hypertension or diabetes. He had a very good history. His grandfather and father were alive and healthy.

He read about the symptoms of heart attack like stomach pain, vomiting, pain on the back, pain on the chest, and many more. But sometimes there are no symptoms at all. Heart attack can be massive at times where a person may not survive. Sometimes and most of the times it can be mild and people do not die. If they take proper care they can live longer.

Once, while he was reading an article he came across a story about Sani Abacha, the former dictator of Nigeria. He read about how he died. He read his doctors statement: We had checked him a few hours before he died. We checked his heart also. Everything was fine. Yet he died of heart attack. We cannot predict death.

One day no patients turned up and the Psychiatrist was sitting alone in his clinic. At once he felt that something was happening within him. He started feeling pain in his chest. He took antacids thinking its the old acidity again which he was very much used to.

After a few minutes a thought came to him that it was a heart attack. Then he thought even if it was heart attack he could still live with an operation. Only that he had to spend some money. But he had enough insurance coverage for that. These types of thoughts had come to him earlier also.

The pain increased. Light foam started coming out from his mouth. It increased. He shouted for help, trying as best as he could. He shouted louder. Nobody heard him.

The compounder who worked at the opposite clinic after closing his doors just peeped into the Psychiatrists clinic to see why the lights are on. Normally the psychiatrist would close his clinic much before others.

The Psychiatrist was lying on the floor. He was already dead.

Nobody knows when death comes. It shows no signs.

The doctor in charge of the hospital wrote the report Death on arrival. Massive heart attack with tears in his eyes. He looked at a doctor colleague and said, He was my class mate. He was very intelligent and a very good human being. Look how young he is… I do not know what could be the reason. God… Why is man born? Why does he live? Andhellip;and why does he die?

Richie Pais Archives:

  • Short Story: The Stones
  • Meow…Woes of an Onionless Life
  • Humour: And the Love Blossomed
  • Humour – Mama
  • Humour: Sachin to Play Again
  • Humour: Modified Letter to Barack Obama
  • The Match
  • Letter to My Dearest Friend
  • Good, Bad and Ugly
  • Plastic Surgery
  • A Stint with Tint