Mumbai’s Real Estate Launches Dip By 24% In January To March: Survey

Mumbai: The real estate project launches in Mumbai dropped by 24 per cent in the first quarter of 2017, a recent survey said.

Launches dropped by 24 per cent at 4,900 units against 6,500 a year ago, a study conducted by the property consultancy firm Colliers International found.

The trend may continue for a short term as developers are adjusting to the new Real Estate Regulation and Development Act (RERA) rules, it said.

Mumbai's Real Estate Launches Dip By 24% In January To March: Survey

“The developers have been selling projects and units based on the marketing plan and layouts, and super built-up areas often represent a loading on the nature of amenities a project offers. Since the FSI norms and rules have been differed from sale plan and chargeable areas of projects, it is posing a challenge for developers,” Colliers International Executive Director, Office Services and Investment Sales, Ravi Ahuja said.

Developers now have to upload on website all sanctioned and approved plans and the buyer can do diligence and be privy to artificial mark-ups in such super built-up areas that sometimes go as much as 40-60 per cent higher than carpet area.

“There is hesitation of under-construction projects sold prior to RERA to follow RERA rules,” Ahuja added.

The rules stipulate that all new under-construction projects must register with the authority by July 31, 2017.

After that date, developers without registration won’t be allowed to advertise or sell projects in the market.

“With the RERA becoming a reality now, it is important for developers to prepare for the changes promptly. The change in the real estate cycle may act as an entry barrier for small players and speculators. We believe improved project planning will help developers avoid delays and manage project funds efficiently,” Colliers International Senior Associate Director, Research, Surabhi Arora said.

 

Sleeping beauty syndrome is for real

Sleeping Beauty and Rip Van Winkle may have been fictional characters but Beth Goodier, Shannon Magee, Connor Prince, Heather and John Flowe are not. These are patients suffering from the Sleeping Beauty Syndrome. Yes, you read that right — this is actually a rare and complex neurological disorder also called the Kleine-Levin Syndrome (KLS).

Experts say that this disorder usually strikes when one is around 16 — and lasts for around 13 years. The disease is rare but we do have patients suffering from it in India, says Dr Preeti Devnani, neurologist and sleep disorder specialist. She adds, “KLS is a rare disease with a prevalence of one to two cases per million inhabitants.”

KLS is a rare disease with a prevalence of one to two cases per million inhabitants (Thinkstock)

Symptom checker
Dr Preeti explains, “A KLS patient may sleep anywhere between two to 31 days, and suffer from one of these cognitive abnormalities such as feelings of unreality, confusion, hallucinations, abnormal behaviour, irritability, aggression, binge eating and hyper-sexuality. These symptoms can be interspersed with long periods of normal sleep, cognition, behaviour and mood.”
Kailash Mantry, mental health and wellness professional says, “Episodes of KLS are cyclical. When present, the symptoms can persist even for months — during which, all usual daily activities of the patient stop. Most people with this syndrome are bedridden, tired, as well as uncommunicative, even when they are awake. Not everyone affected by KLS experiences all of the symptoms associated with the syndrome.”

What causes this?
What causes KLS is not really known, say doctors. Dr Preeti elaborates, “The pathology of the disease suggests a malfunction in the hypothalamus and thalamus — regions of the brains, which help regulate sleep patterns, appetite and sex drive.”
Viral and autoimmune causative factors have been suggested due to the fact that many KLS patients also suffer flu-like symptoms at the onset of the disease. She adds, “It has also been suggested that an infection may act as a trigger for people who have a genetic disposition towards KLS.”
Dr Amrapali Patil, wellness professional says, “This disorder is characterised by neurochemical imbalance hypoperfusion of certain areas of brain and known to have a genetic background.” In the beginning of a KLS episode, the patient becomes progressively drowsy. Then they fall asleep for long hours — hypersomnolence — sometimes waking only to eat or go to the bathroom. Such episodes continue for days, weeks and sometimes months. In between two such episodes, the patient appears to be in perfect health with no evidence of any kind of behavioural or any other type of physical dysfunction.
Dr Patil says, “This condition is so rare that enough subjects are not available to conduct clinical trials and research to generate data. KLS is said to affect one in millions and it is difficult to track it’s incidence in Mumbai.”

Is there a way to prevent it?
There is no definitive treatment for KLS, however, doctors may prescribe certain medications to alleviate the symptoms. Dr Preeti says, “Stimulants can counter the effects of hypersomnia but they do not alleviate the associated cognitive disturbances. Mood altering drugs have also proved beneficial in some cases of KLS.” Dr Patil adds, “Lithium is said to provide some prevention against these episodes.”

How does it affect one?
Along with excessive sleep, the whole demeanour of a person suffering from KLS changes. They appear to be spaced-out or childlike. When awake, they experience disorientation, confusion, a complete lack of energy, as well as lack of emotions. A majority of people with KLS report that everything seems to be out of focus and that they are hypersensitive to light and noise. In some instances, food cravings are a part of the symptoms they experience. Instances of uninhibited hyper-sexuality during an episode have been reported by people with KLS.

The psychology behind it
Mantry says, “We have found that KLS patients have psychological issues like attention-seeking strategies, absence of love, doubts on near and dear ones, general weakness in health, irresponsible behaviour and a disturbed social life. Such patients also have no aims or goals, feel resigned, skeptical, hypocritical, have poor communication skills, see no reason to wake up, are afraid, lazy, whimsical, egoistic and hurtful. Other issues include victimisation, absence of family bonding, no courage to accept challenges and low self-esteem.”

Instances of excessive daytime sleepiness in Mumbai

Dr Ramanthan Iyer, sleep specialist says, “KLS is extremely rare but excessive daytime sleepiness (EDS) is common in Mumbai. It is characterised by persistent sleepiness and often a general lack of energy, even during the day, after apparently adequate or even prolonged night-time sleep.”

Gimlet’s New Podcast Puts You Right in the Room as Entrepreneurs Pitch Their Businesses to Real Investors

Pitching a new business can be incredibly stressful or incredibly rewarding. The Pitch, a new podcast joining Gimlet’s lineup, puts listeners right in the middle of the process as entrepreneurs pitch their new companies to investors.

“The Pitch has the high stakes you expect from reality TV,” said creator and host Josh Muccio, “but you don’t lose the intimacy.”

The premise: entrepreneurs pitch their businesses in real time to get feedback and potentially receive funding from investors including Jillian Manus, a partner at Structure Capital; Phil Nadel, co-founder of one of the largest syndicates on AngelList called Barbara Corcoran Venture Partners; Howie Diamond from Ranch Ventures who looks for companies with a social-change agenda; Jake Chapman, founder of Gelt Venture Capital; and Sheel Mohnot, a partner at 500 Startups who sold his startup to Groupon in 2012.

“It’s unusual to see a project come in the door this fully realized and exciting,” said Matt Lieber, president and co-founder of Gimlet Media. “There’s a tension and a liveness that happens on this show that we really responded to.”

Noting that StartUp—which takes its listeners behind the curtain of what it’s really like to start a business—is one of Gimlet’s most successful shows, Lieber said, “The Pitch totally also fits in this space.”

 

The Pitch is technically in its second season, but it’s the first with Gimlet Media after the podcast revamped its format. The Pitch is also the second show Gimlet has acquired. Science Vs joined Gimlet from the Australian Broadcasting Company in October 2015. Currently, Gimlet has around 10 active shows uploading new episodes throughout the year.

In making a reality-style show, Muccio said he initially faced challenges choosing which businesses to feature and convincing investors to get on board.

“The founders are already in the middle of taking risks,” Muccio said. “So they see the benefit of broadcasting their message to listeners. We’ve been trying to find companies in their seed stages and investors to develop relationships with.”

Each season of The Pitch will take place in a different city. Casting has already opened for Season 3, which will be recorded in New York.

“I stumbled upon StartUp in 2014, soon after I sold my own startup,” Muccio said. “Podcasting intrigued me, and I eventually assembled a team of producers and editors who taught me how to do my own show.”

Lieber said that Gimlet’s most successful shows “are driven by the vision, passion and voice of a person with a strong point of view.”

“You can hear that in this show,” he said. “There are many different kinds of entrepreneurs, and Josh’s point of view is that entrepreneurship can be empowering.”

New episodes of The Pitch are released each Wednesday. The first episode is already available for download.