"If you find yourself alone riding in green fields with the sun on your face, do not be troubled, for you are in Elysium, and you're already dead!" Gladiator
Sunday evening went viewing the new film Kaksparsh.
Kaksparsh - the title translates as the Crow's Touch - people with knowledge of Hindu customs would identify this with a custom that happens after the death of a person. This is probably the Golden Era of the Marathi Cinema. Having seen Deool, Natrang, Valu in recent past.... the addition of Kaksparsh is a welcome addition.
Mahesh Manjrekar breaks new ground by reciting this haunting tale of love and sacrifice on the big screen. So power packed is the impact of this story that the scenes and dialogues keep coming back to your mind hours after you have left the theatre. Before this, there was English Patient that left such a haunting memory in my mind.
Coming to the movie, it starts in, I think, 1930s and goes on till early 1950s. The movie is set in verdant Konkan region of Maharashtra. The backdrop of the village, the customs, the clothes, the local involvement with freedom struggle, boat travel and other such things set up the tone of the movie.
The story starts with a tragedy striking a newly married couple of Mahadev and Uma, where Mahadev dies on his first night after his wife Uma reaches puberty. Mahadev's elder brother, Hari, is a well known and respected elder of the village. He breaks tradition and protects Uma from being forced to tonsure her head as a widow as per the customs of the time. Not just that he becomes inaccessible to opinions on how to treat Uma. He is authoritarian and does not allow any decision to be taken by anyone when it comes to Uma. This lasts for almost 2 decades and each development in family, the village only puts the entire village and us, the viewers, confused and perplexed about his motives. The denouement is perfect, if you have the guts to digest such a story.
The critical question this movie asks is about relationships and marriage. The movie tries to explore the topic of existence of love and how it manifests between two individuals. I must say, it is a very difficult topic and has been brilliantly handled by Mahesh Manjrekar.
Now the actors - Sachin Khedekar has delivered the performance of his lifetime. I easily put this in the ना
भूतो ना भविष्याती category for him. He is astonishing as the hardnosed, principled, unshakeable Kartaa purush of the family.
Ketaki Mategaonkar and Priya Bapat both as the young widow, Uma, deliver stellar performances. With so little dialogue your way, both these ladies have shown rich expression through eyes and body language.
The supporting cast is also very good and completes the story - the villagers, a local villain, Hari's freedom fighter friend, and his family members.
Go watch it, but only if you want a serious treatise of a difficult topic.
So a pretty bad accident happened in Mumbai yesterday. Most media channels duly blamed Railways. Most of the people duly blamed Railway. I am sure some enquiry is in progress too.
As a commuter, here is a photo I clicked today.
Question is : How can you blame Railway for this?!
Have you ever felt when searching for a home in Mumbai, 1 BHKs charge a premium on the property rate in that very area? That is if in a area, the property is at 10000 Rs. per sq. ft for 2 and 3 BHKs. My guess is, it is a Giffen Good.
Here is the investopedia definition: Giffen Good: A consumer good for which demand rises when the price increases, and demand falls when the price decreases.
Real Estate in India, particularly in cities like Mumbai, has typically risen manifold in price terms. So much so that it has gotten out of reach of most middle class people with usual career curves.
So about 10 years ago, a young couple of around 30 years of age in Mumbai would be stretching but being able to eventually buy a 2 Bedroom Hall Kitchen apartments ranging from 800 sq. ft. to 1100 sq. ft. depending on location, rates therein, their budgets. While that was a tough one to achieve, it was somehow managed with financing by loans, parents / friends helping and savings done in their 10 odd years of working life.
If I am not wrong the average price of such a flat would be 5 to 6 times their combined gross incomes.
Today, time has changed radically.
The apartment prices have shot through the roof. Completely through the roof. In fact,buying just the roof has also become quite difficult these days. Across board rates have shot up.
Many many of today's 30 year olds are today preferring to stay in rental homes rather than buying them. Yet, in India, as in most countries, property remains one of the major aims of life. In fact, it brings a lot of prestige for those buying one early. Home loans are easier and not frowned upon by the society. Yet, homes today are that much out of reach especially in tier I and II cities.
So the aspiration of these 30 year old pairs have moved down from 2 BHKs to 1 BHKs. 1 BHKs are generally anywhere from 500 sq. ft. to 700 sq. ft.
These 1BHKs ask for a premium in most areas, especially in areas like Borivali, Thane, Mulund etc. Yet their demand is going up.
One simple explanation I find is that the 1BHK is a Giffen Good. Because of the steep increase in rates, with incomes not rising with the same slope, 2BHKs have gone out of hand. The premium comes simply because real estate developers have virtually stopped creating 1 BHKs. Thus limiting the supply. So because 2 BHKs, which seem to be in oversupply, are beyond people's reach. Thus we have our own Mumbaikar Giffen Good, the equivalent of Potato during the Irish famine.
Update:
I requested Prof. TT Ram Mohan to comment on the above post. Here are his thoughts on the above post:
"I read your piece. I am not sure this is a Giffen good phenomenon. Demand for 1 BHK apts would be high in the face of rising prices because they would still be cheaper than 2 BHKs. The question is why then builders don't build more 1 BHK apts. The answer, unfortunately, is that they find there is still enough demand for 2 BHK apts on which they, perhaps, make better returns."
All the opinions expressed are of the author only. Any action taken by readers on the basis of this blog is entirely at the readers' risk and they are solely responsible for the same.
