What Is Meant By Renewable Energy Source - 1685 Words

What is meant by renewable energy source? A renewable energy is naturally regenerated over a short time scale and received directly from the sun. Renewable energy does not include energy resources that come from gasoline, natural gas or oil, waste products from fossil sources or waste products from not related to living sources. List the different types of renewable energy sources Solar energy, wind energy, hydroelectric power, bioenergy, geothermal energy, ocean energy and water energy. Explain the details behind wind power Wind energy is generated by changing wind currents into alternative types of energy using wind turbines. Winds are generated by complicated mechanisms involving the rotation of the temperature gradients between†¦show more content†¦The disadvantages of wind generators are that the strength of the wind isn’t constant and it varies from zero to storm force. This suggests that wind turbines don’t manufacture constant quantity of electricity all the time. Many of us feel the rural area ought to be left untouched, while not these massive structures being engineered. Background Theory continued†¦. Who was Michael Faraday? Michael Faraday was a British physicist and chemist, best known for his discoveries of electromagnetic induction, the magneto-optical effect electro-magnetic rotations, the magneto-optical effect, field theory, diamagnetism and of the laws of electrolysis. His biggest breakthrough in electricity was his invention of the electric motor. Many famed historians regard him as the most prestigious and ideal experimentalist within the history of science. Michael Faraday was born in Newington Butts, London on 22 Sept 1791. He was the third child born in an extremely poor family, where his father was a blacksmith. As a result to his poor family background, Faraday couldn’t get pleasure from a large college and had to mostly educate himself. Michael Faraday built two devices to produce what he called electromagnetic rotation: that is a continuous circular motion from the circular magnetic force around a wire. Explain what is meant by electrical induction Electromagnetic induction is the process of using magnetic fields to produce voltage and in a complete circuit, a current. Michael

Should Marijuana Be Illegal - 2020 Words

Growing up, everyone is told that, â€Å"Drugs are bad for you,† time and time again. Now as a kid you don’t really understand the reasoning behind it, but you listen to your authority figure regardless. I remember being told this my entire life and even to this very day. But as I got older I realized that people would still use drugs even though it’’s illegal. I could never understand why someone would go against the law and jeopardize their life just to use drugs? The drug that I am talking about is marijuana, and surprisingly it is all around us. Marijuana is even referred to in today’s media Mainstream media sources that people enjoy, like music, movies, and TV shows, do not even bother to leave the drug out of their system. Now being a young adult and having my own personal experience with the drug and knowing its effects on others, I wonder why it’s not legal. Why is it that this drug has become illegal all over the world? The debate to legalize marijuana in the United States of America has been fought over nonstop since the existence of the drug and its effects. Marijuana has been tested and proven to provide a very positive impact on the American society for many reasons. Some of these reasons are for America’s economy, health and even crime. These reasons could very well help America thrive in the future and that is why Marijuana should be legalized in the United States of America. This naturally found plant known as marijuana is recognized all around theShow MoreRelatedShould Marijuana Be Illegal?989 Words   |  4 PagesThe word marijuana gained attention in almost every American household today. Those who oppose the legalization of the use of plants that its use is automatic smoke , but those who do not choose to use marijuana is considered to be conducive to maintaining its illegal. On legal objections relating to chemical plant has caused much controversy in the past two decades, is still an important issue. In the Unites States to legalize marijuana would greatly reduce crime in our city , and is formed byRead MoreShould Marijuana Be Illegal?1436 Words   |  6 PagesGetting to know Cannabis as a Whole Marijuana as you know is illegal in more than half of the United States. You would think marijuana was illegal because of some harmful effects but that s where you re wrong. The reasons why Marijuana was made illegal were because the the public were never informed about the real uses of Marijuana. Marijuana also known as Hemp is often used as source to make materials such as paper. Before 1883 about seventy-five to ninety percent of the world s paperRead MoreShould Marijuana Be Illegal? Essay812 Words   |  4 PagesMarijuana charges reflect the still-existing discrimination in society. Although use rates for African-Americans are only around 25% greater than that of whites, marijuana possession arrests are about three times greater for blacks than whites (Gettman, 2009). Legalizing marijuana would eliminate this aspect of racial disparity in the United States, where any single step could be seen as a move in the right direction. This would also help decrease the populat ion of those in jail or prison forRead MoreShould Marijuana Be Illegal? Essay2020 Words   |  9 Pagesremember being told this my entire life and even to this very day. But as I got older I realized that people would still use drugs even though it’’s illegal. I could never understand why someone would go against the law and jeopardize their life just to use drugs? The drug that I am talking about is marijuana, and surprisingly it is all around us. Marijuana is even referred to in today’s media Mainstream media sources that people enjoy, like music, movies, and TV shows, do not even bother to leave theRead MoreShould Marijuana Remain Be Illegal927 Words   |  4 Pages Should marijuana remain be illegal Since 2009 the government of the state California and Colorado, considered the idea of legalization of the marijuana. A high percentage of People of the United States doesn’t consider marijuana as a drug because is not strongly addictive. There’s also proves that marijuana never kill anyone and that is not so dangerous as alcohol and Tabaco. Marijuana should still remind illegal for his dangerousness. Marijuana is a magnificent pain reliever for people who sufferRead MoreShould Marijuana Be Illegal?925 Words   |  4 Pagesdiscoveries from a plant many call marijuana. The intriguing effects that come from the cannabis plant have slowly started to unveil, claiming many positive talks in the medical industry in treating terrible diseases that have affected millions of people. But it used to be talked about like a very terrible thing back in the day from all the talk that was happening being reported by the government. Which ultimately caused it to become illegal nation wide. But what initiated marijuana to become prohibited? TheRead MoreShould Marijuana Be Illegal Drugs?967 Words   |  4 Pagesfamilies. Well I once had a belief until one day that all changed. Her name was Marijuana. Many people hold extreme views regarding drugs, especially illegal drugs. Anti-drug individuals often present a view of all illegal drugs as horrendous and without any redeeming qualities. I used to be this individual. Before my newfound discovery I believed marijuana usage was unacceptable , while despising the users. I perceived marijuana as a gateway drugs to other harmful dangerous drugs and a narcotic that honestlyRead MoreWhy Marijuana Should Be Illegal1610 Words   |  7 PagesCannabis also known as marijuana, is a plant produced in many countries worldwide. Marijuana was first introduced by the Mexican immigrants for recreational usage, the misconduct of the drug had our whole nation in turmoil so it was voted on to be illegal throughout the whole United States. Marijuana possession is illegal and it is illegal for so many different reason. In fact, there were over 8.2 million marijuana arrest in the united states last year according to ACLU’s original analysis drawnR ead MoreShould Marijuana Stay Illegal?958 Words   |  4 PagesShould Marijuana Stay Illegal Should Marijuana stay illegal? That is the question. For many decade us as American has been going back and forth debating rather we should legalize this drug or taboo it from personal use. To me marijuana should stay illegal, while others might think differently towards this subject. The reason why I firmly believe we as a nation should keep this drug proscribed for being use for personalRead MoreWhy Marijuana Should Be Illegal2091 Words   |  9 PagesThe argument of legalizing or prohibiting marijuana has been going on for very long time all over the world. In most countries, possession and use of marijuana is considered illegal. Today, some countries have legalized marijuana while other countries have not. In the United States, some states such as Washington and Colorado have also legalized the possession and usage of marijuana for medical and recreational purposes for adults. There are a number of advocacy groups that stand for its legalization

Integrating the understanding of theory, practice, and values Free Essays

string(174) " the scope of knowledge to include the disparate and intersecting dimensions of power, inequality and oppression within the context of contemporary society \(Lishman 2007\)\." Introduction In its broadest sense, ‘social work is about helping people in society’ (Evans Hardy 2010, p.1). However, the kind and level of service provided by social workers is complex, varied, and encompasses a wide range of areas. We will write a custom essay sample on Integrating the understanding of theory, practice, and values or any similar topic only for you Order Now According to the International Association of Schools of Social Work (IASSW) and the International Federation of Social Workers (IFSW), social work is a profession that: ‘†¦promotes social change, problem solving in human relationships, and the empowerment and liberation of people to enhance well-being. Utilising theories of human behaviour and social systems, social work intervenes at the points where people interact with their environment. Principles of human rights and social justice are fundamental to social work’ (Lishman 2007, p.27). The above definition provides a deeper context of social work. It implies that the core of social work concerns the plight of individuals, with an emphasis on issues of human rights, inequality, social justice, and the use of political and professional power (Lishman 2007). This definition provides a more critical approach towards social work and takes into consideration current issues and developments in this field. Social work entails the improvement of the quality of life and well-being of individuals, groups, or communities through various forms of interventions such as research, policy, advocacy, capacity building, community organizing, counselling, teaching, etc. These interventions are made on behalf of people who are: (a) Vulnerable in some way, e.g. persons with disabilities, street children, aged people, etc.; (b) Excluded from society, e.g. marginalised minorities, etc.; (c) Cannot fully participate in society, e.g. people living in poverty, women, etc.; (d) Suffering from stigma and discrimination, e.g. HIV/AIDS patients, sex workers, etc; and (e) Victims of social injustice, inequality, and violations from human rights (Kane 2010). As such, social workers usually work in a complex social and political environment and must deal with both public issues and private dramas. Again, this aspect of social work is embedded in the concepts of critical social work theories. Taking all these into consideration, this paper analyzes the theoretical underpinnings and key elements of critical social work. This will be supported by understanding how a critical social work approach influences advocacy in actual practice. These objectives will be achieved by a discussion on anti-oppressive perspectives and ethical awareness and through an examination of the complexities of social work practice. Table 1. Research Objectives, Questions and Rationale ObjectivesQuestionsRationale  ·To understand what are the theoretical foundations and key elements of social work ·What are the theories behind critical social work?  ·What are the integral elements of critical social work? ·Understanding the foundations of critical social work will aid in developing an analysis of how they relate to actual practice  ·To understand how critical social work approach influences advocacy in actual practice ·How does a critical social work approach influence or shape advocacy endeavours?  ·Is a critical social work approach effective in promoting advocacy agendas in social work? ·By analysing critical social work in the specific context of advocacy, the theories behind the approach will be tested and will help to determine how effective critical social work approach is in actual practice Understanding the foundations of Critical Social Work The definition of social work posited in the introduction borrows largely from the theoretical underpinnings of Conflict Theory and Critical Theory Perspectives. The combination of these perspectives can be said to have shaped important elements of the Critical Social Work Approach and how it is being implemented in actual practice. The focus of Conflict Theory is how power structures and disparities affect people’s lives. Popular theorist of the conflict perspective are Karl Marx, Max Weber, Emile Durkheim, and C. Wright Mills. There are also a number of feminist and GLBT (Gay, Lesbian, Bisexual and Transgender) theorists who have contributed significantly to the study of this perspective (NCSSS 2008). The Conflict Perspective ‘adopts a more critical approach to understanding the structure of society and how social structures mediate social life’ (Oko 2011, p.22). It argues that society is ordered based on the lines of inequality, such as affluence income, and health. These factors can provide people with different outcomes in life, which consequently results in varying qualities of life experiences. In this case, the concept of a shared belief system is highly improbable due to the social differences, which undermine the opportunities to have a shared common identity. From this point of vie w, it can be surmised that social conflict is unavoidable and a justifiable response to social inequality (Oko 2011). The main concepts of Conflict Perspective regarding human behaviour are as follows: (NCSSS 2008): All societies enable and propagate some forms of oppression, injustice and inequality Power is unequally distributed; some groups dominate other groups Social order is based on the manipulation and control of a few dominant groups Social change is primarily driven by conflict and periods of stability are interrupted by periods of change Human life is characterized not by consensus but by conflict From the point of view of Critical Theories, social problems arise due to different forms of oppression. Critical perspective is founded on theories of Marxism and the Frankfurt School of Critical Theory, notably the works of Max Horkheimer, Herbert Marcuse, and Jurgen Habermas (Dalrymple Burke 2006). Critical Perspective ‘questions the existing social order. It views this order as unequal, socially divisive, and unjust’ (Lishman 2007, p.33). Moreover, the Critical Approach argues that the state’s support and maintenance of the interests of dominant groups upholds inequality and other forms of oppression. The Critical Perspective holds the view that critical theory can change society – and ‘the changed society is one that is no longer characterized by exploitation, inequality, and oppression but is emancipatory and free from domination’ (Dalrymple Burke 2006, p.10). This indicates that an important aspect of critical theories is that they emphasize that people can achieve a changed society through conscious and collective action. Although the early influences on Critical Theory Perspectives focused on the concept of social class as the main determinant of inequality and oppression, later contributions from anti-oppressive, feminist, and critical social work perspectives have widened the scope of knowledge to include the disparate and intersecting dimensions of power, inequality and oppression within the context of contemporary society (Lishman 2007). You read "Integrating the understanding of theory, practice, and values" in category "Essay examples" By putting both the Conflict and Critical Perspectives into the context of social work, then social work can represent either of the following views: (Oko 2011, p.22) Social work is an agent of state control and used by the state to manage and maintain the socially excluded and vulnerable. Social work can represent a radical activity, concerned to mobilise those socially excluded groups through group and community action. In the Critical Social Work Approach, social workers must question the notion that the state should maintain a neutral, humanitarian role in dealing with its citizens. This is based on the argument that the maintenance role assumed by social workers, with regard to state welfare polices and institutions, aids in perpetuating inequality and its related oppressions, injustices, disadvantages, and stigma. Critical social work approach must therefore involve transforming the relationships of social workers and service users into one that empowers, emancipates, and gives voice to under-represented groups of society (Lishman 2007). Critical Social Work Approach advocates that social work should shift from just being state regulators into mobilisers of social change, in behalf of marginalised and vulnerable sectors. This view is described as the Emancipatory Approach, wherein social work takes on a clear commitment to social justice (Oko 2011). In this regard, the major focus of critical social work can be summarised into the following areas: (a) poverty, unemployment, social exclusion; (b) discrimination; (c) inadequate provisions of basic services such as housing, health care and education; (d) crime and social unrest; and (e) abuse and exploitation. Anti-oppressive Perspectives and Ethical Awareness In recent years, there has been a growing focus on anti-oppressive social work and ethical awareness. This may be attributed to the fact the social work profession is highly influenced by institutional inequalities. To illustrate: the encounters between the service user and the social worker, the social worker and the agency, and the agency and the state – are all formed in the framework of unequal power relations. As such, due to the imbalance of power in social work relations, social work inadvertently supports the emergence of oppressive practices (Strier 2006). Many academics and social work experts have studied and advocated for anti-oppressive social work. A number of studies have focused on strategies that can help to overcome the systemic constraints, which social workers face while forming emancipatory agendas with service users. Some works have concentrated on the effects of ‘symbolic and discursive constructions on practices of oppression’ while others recommend discarding of the cultural sensitivity approach and instead to adopt a more engaged, dynamic and critical anti-discriminatory and anti-racist perspectives (Strier 2006, p.2). Over the years, the literature on anti-oppressive social work continues to grow as more studies are being conducted to investigate this further. However, despite this growth in anti-oppressive social work research, the reality of applying this perspective into actual practice is not quite straightforward. Given the various constraints that have become deeply entrenched in the social work arena, in reality, it is extremely difficult to liberate social work practice from oppression. As much as the social worker wants to free service users from oppression, they are restricted by the mandates of the agency and the state – which continue to uphold a neutral, humanitarian role towards its citizens. In most cases, social workers are forced to take on a maintenance role instead of actively mobilising and emancipating service users. This view is supported by McLaughlin (2005) in his statement that: Influenced by a Marxist view of the state and Foucauldian insights into both the power of discourse and controlling aspects of the ‘helping professions,’ it is argued that what were considered radical measures have now become institutionalized and in the process lost their original meaning. Anti-oppressive social work, rather than being a challenge to the state has allowed the state to reposition itself once again as a benign provider of welfare, and via the anti-oppressive social worker is able to enforce new moral codes of behaviour on the recipients of welfare (p.283). Additionally, the problems related to lack of funding and support from the state limits what social workers can do. Moreover, there are just not enough number of social workers to handle the huge load of social work cases. As such, many social work practitioners feel overstretched by staff shortages and frustrated by the limitations imposed by bureaucracy (Social Work Task Force 2009). In terms of ethical awareness, social work professionals are faced with various difficulties and dilemmas, which challenge their ability and commitment to act ethically. Some of the issues that complicate the situation for social workers are as follows: (Strier 2006; IFSW 2012) Multiple and conflicted loyalties of social workers – social workers are often in the middle of conflicting interests Duality of roles as helpers and controllers – social workers function as both helpers and controllers Institutional framework mandating the actions of social workers – refers to the conflicts between the duty of social workers to protect the interests of service users with whom they work against the societal demands for efficiency and utility Limited or lack of resources As such, there is a need to renew the sense of ethical awareness among social work professionals in order to encourage them to reflect on these challenges and to come up with ethically informed decisions. Examining the Complexities of Social Work Practice Social work requires the social work professional be adequately able respond to complex situations that reflect both public issues and private pain. Social work essentially involves taking on a ‘mediating role between the individual and society’ (Oko 2011, p.4). Social workers are mandated by the state to intervene with individuals, groups or communities in order to effect change. Additionally, social work practitioners seek to balance individual self-interest with social responsibility, while at the same time working within the legislative and policy frameworks (Dominelli 2009). All these contribute to the complexities of social work practice. There are many instances wherein the social worker is torn between the desire to help the service user versus adhering to the rules and regulations set by the state. In other scenarios, the social worker may have the legal mandate to aid a service user; however, the lack of funding, support, tools or human resources limits what he/she can do. The harsh reality being that not all service users who need help are being provided for. Social work encompasses a vast array of sub-fields such as education, child care, women’s rights, poverty, etc. and involves many kinds of expertise for example advocacy, forensic social work, counselling, etc. Moreover, social work involves a myriad of job functions and performing a wide range of interventions, e.g. case management, administration, training, etc. (Dominelli 2009). This is another source of complexity for social work practice. The social work practitioner is faced with the challenge of whether to engage in a particular field of expertise or to take on a more generalist role. The social work profession has multiple accountabilities – to employers (e.g. state agencies, private institutions), service users, policymakers, professionals in related disciplines (e.g. medicine, psychiatry, psychology and law), and the public. Donnelli (2009) aptly summarizes some of the complexities of social work, which are greatly changing the social work practice and the roles of social workers. This only serves to complicate matters and places a greater burden on social work professionals. ‘Social work is a constantly changing profession whose role and purpose in society is often disputed and subjected to professional and governmental regulations. Its constantly fragmenting boundaries and changing nature enable social work activities to be appropriated by other professionals: for example, the completion of risk assessments in child abuse cases by child psychologists and the opening up of mental health work formerly undertaken by approved social workers to any professional without a social work degree†¦Social work is constantly being restructured by the state and emerging in different forms, while retaining its core tasks of caring for people and regulating behaviour’ (p.15). A study conducted by the Social Work Task Force (2009) reveals other complex issues that are being encountered by social work practitioners in England. The findings from the study show that social workers have several key issues, which they feel are complicating and negatively affecting their work. These are as follows: (Social Work Task Force 2009, p.6) Social workers feel that they do not have sufficient time to dedicate to the people they want to help. They feel strained by staff scarcity and limited by bureaucracy. Social workers feel very frustrated by some of the tools and support that are given to them to do their jobs. The support and tools are either lacking or inadequate. New social workers are usually unprepared for the demands of the job. Additionally, the education system does not effectively support ongoing development and specialisation for social work students. Social workers feel that their profession does not have a strong national voice and that they are not well-supported at the national level. Systems for managing the performance of social work practitioners are not driving and improving quality. Social workers feel that their profession is underrated, highly misunderstood, and under constant media attack. This makes it difficult for them to do their jobs and to attract people into the profession. Despite some efforts by the government, these issues continue to be a major concern for the social work arena. These issues are complex and require extensive effort not only from the state and social work practitioners; it also involves a paradigm shift and the re-framing of social work practice to change public and media perceptions. Critical Social Work and Advocacy Nzira Williams (2009, p.29) defines advocacy as ‘the representation of a need or an idea, either by a person or group on behalf of themselves, or by someone or an organisation on behalf of another person or group.’ Advocacy is usually associated with political action because it often involves asking for greater influence in decision making. However, advocacy also encompasses other actions, for instance, helping people to assimilate and participate in the community. Advocacy is also often used as a vehicle in helping to recognise injustices so that people can become more involved and respected. Moreover, advocacy helps to find remedies for the oppressed. As such, the role of social work practitioners usually involves an element of advocacy. One of the primary aims of social work ‘is to promote social justice in practice and policy’ (Dalrymple Burke 2006, p.17). As such, advocacy fits right into this framework and has occupied a large role in its approach. Indeed, social work has a long tradition of advocacy and social action, which leads to social reform (Hepworth et al 2010). Marrying the two together, social work advocacy, from the perspective of critical social work, can be defined as the ‘exclusive and mutual representation of a client(s) or cause in a forum, attempting to systematically influence decision making in an unfair and unresponsive system’ (Hepworth et al 2010, p.430). As such, social work advocacy involves persuading decision makers to take a particular course of action. From a critical perspective, social work advocacy is not merely representing the case in behalf of the client, but also to make sure that the client’s voice is heard. The goal of advocacy is not simply to represent the views of another but also to mobilise and enable the person to speak themselves (Wilks 2012 ). In social work advocacy, a case advocate is one who is working on behalf of a service user to ensure that they receive the benefits and services to which they are entitled to, while at the same time safeguarding their dignity (Hepworth et al 2010). The intent and outcome of advocacy should be: (a) to boost the individual’s sense of power; (b) help the person to be more confident; and (c) to encourage the individual to be more assertive and expand his/her choices (Wilks 2012). One of the main principles of anti-oppressive practice is the belief that social work has the capability to empower the individual and to change power relationships between individuals, communities, and society through the adoption of approaches that are sensitive to the impacts of difference. Advocacy’s links with empowerment may provide an approach to social work practice that is consistent with the aims of the anti-oppressive perspective (Wilks 2012). Social work’s core value and principle is the dignity and worth of the individual. This understandably leads social workers into advocacy efforts, as they work with oppressed sectors in order to reform power structures so that all are represented and have a share in the welfare of society (Pearson Higher Education 2012). There are various types of advocacy with their own strengths and limitations. Moreover, advocacy can be applied into various areas of social work. Appendix 1 shows a summary of the different types of advocacy and examples of how they are applied into social work practice. Summary and Conclusion Critical social work is founded on the theoretical underpinnings of Conflict Theory and Critical Theory Perspectives. Conflict Theory focuses on how power structures and inequalities affect people’s lives. This is based on the argument that society is structured along the lines of inequality (i.e. wealth, income, health) and as such, these provide people with qualitatively different lives. Critical Theories, on the other hand, hold that social problems arise due to various forms of oppression. This perspective also emphasises that people can change society through conscious and collective action. Based on these perspectives, critical social work approach emphasizes the transformation of relationships between social work practitioners and service users into one that is empowering, emancipating and mobilising. Anti-oppressive perspectives have become an important facet of critical social work. This perspective holds that the imbalance of power in social work relations only serves to support the emergence of oppressive practices. However, in actual social work practice, it is very difficult to liberate service users from oppression due to various reasons, such as the lack of funding, support and tools from the government, legislative limitations, etc. Ethical awareness refers to the challenge faced by social work professionals in terms of their ability and commitment to act in an ethical manner. The various challenges and dilemmas confronting social workers are sometimes making it difficult for them to come up with ethically informed decisions. Social work is a very complex profession. Social workers are required to respond to both individual cases and public issues. They are mandated by the state to intervene with people who need help; while at the same time, they must work within administrative and legislative parameters. Social work also has multiple accountabilities, which may be conflicting and overlapping. Moreover, social work is constantly being restructured and redefined by the state but its core responsibilities must remain the same. Lastly, the negative experiences of social workers in their practice (e.g. lack of state funding and support; feeling undervalued and poorly understood, etc.) are complicating the situation even more. Social work has a long tradition of advocacy. Critical social work advocacy involves influencing decision makers to take a specific course of action. Additionally, advocacy is not just to represent the service user’s case, but also to enable the person to speak for themselves. Taking all these together, it can be concluded that engaging in critical social work requires a strong foundation in theoretical perspectives combined with an in-depth understanding of actual practice scenarios. The complexities of the social work arena and the various issues faced by social work practitioners provide huge challenges. As such, knowledge must be combined with commitment to the work, as well as passion for social justice and empowerment. References Evans, T Hardy, M (2010). Evidence and Knowledge for Practice. Cambridge: Polity Press. p1-15. Dalrymple, J Burke, B (2006). Anti-Oppressive Practice: Social Care and the Law. 2nd ed. Berkshire: Open University Press. P7-53. Dominelli, L (2009). Introducing Social Work. Cambridge: Polity Press. p1-25. Hepworth, D, Rooney, R, Rooney GD, Strom-Gottfired, K Larsen, J (2010). Direct Social Work Practice: Theory and Skills. 8th ed. Belmont: Brooks/Cole, Cengage Learning. p353-411. IFSW. (2012). Statement of Ethical Principles. Available: http://ifsw.org/policies/statement-of-ethical-principles/. Last accessed 14th Dec 2012. Kane, T. (2010). What is social workAvailable: http://www.slideshare.net/ict4devwg/dwg-sw-march-10. Last accessed 14th Dec 2012. Lishman, J (2007). Learning in Social Work and Social Care: Knowledge and Theory. London: Jessica Kingsley Publishers. p13-39. McLaughlin, K. (2005). From ridicule to institutionalization: anti-oppression, the state and social work. Critical Social Policy. 25 (3), p283-305. NCSSS (National Catholic School of Social Services). (2008). Overview of Theories of Human Behaviour and the Social Environment. Available: http://ncsss.cua.edu/res/docs/field/theories.pdf. Last accessed 14th Dec 2012. Nzira, V Williams, P (2009). Anti-Oppressive Practice in Health and Social Care. London: Sage Publications Ltd. p1-40. Oko, J (2011). Understanding and Using Theory in Social Work. 2nd ed. Exeter: Learning Matters Ltd. p1-38. Pearson Higher Education. (2012). Defining Policy Practice in Social Work. Available: http://www.pearsonhighered.com/showcase/swcccs/assets/Cummins_0205032648_Ch01.pdf. Last accessed 14th Dec 2012. Social Work Task Force. (2009). Facing up to the task: The interim report of the Social Work Task Force. Available: http://www.swap.ac.uk/docs/taskforceinterim_rpt.pdf. Last accessed 14th Dec 2012. Strier, R. (2006). Anti-Oppressive Research in Social Work: A Preliminary Definition. British Journal of Social Work. 10 (10), p1-15. Wilks, Tom (2012). Advocacy and Social Work Practice. New York: Open University Press. p1-18. Appendix 1. Advocacy Type of AdvocacyExampleStrengthsLimitations Paid advocacySolicitorExpertise, especially on legal rights; powerful representationCostly; often an unnecessarily ‘heavy’ response Advocacy as part of a professional roleSocial worker; nurseInfluence within services; time allocated as part of job; experience and knowledge of needsUsually working with more than one person, so attention limited that can be given to individuals; bound by conditions of employment; possible conflict of interest, e.g. if a person needs help to complain about colleagues or employers Advocacy by an organisation on behalf of a group Mencap; Royal National Institute for the Deaf; Age ConcernExpertise; power deriving from membership; influence on national policyUsually concerned with general rather than individual issues Formal problem-oriented advocacyOmbudsman; Citizens’ Advice Bureau; local councillor; MP; patient advice (PALS)Formal or legal basis; independence; authority by virtue of roleOften oriented towards complaints of specific problems Informal single issues unpaid advocacyCrisis or instrumental, outcome-oriented Citizen AdvocacyFlexible; informal; expression of citizenship and social capital; minimises conflict of interest since unpaid and voluntaryConcerned with single issues rather than long-term needs Informal long-term unpaid advocacyRelationship-based Citizen Advocacy partnerships; advocacy by family and friendsSame as informal single issue unpaid advocacy; plus: long-term; relationship-based; protective as well as empoweringGreat trust required that the relationship will pursue the person’s best interests Self-advocacy by individuals on their own behalfCreative arts; taking part in own reviews; expressing wishes; involvement in person-centred planningEmpowering; ensures relevance; participatory; enhances self-esteemLacks power; depends on adequate support Self-advocacy by a group on behalf of its membersPeople First; National Pensioners Convention; British Council of Disabled PeopleGives a voice to the otherwise unheard; expression of basic rights; supportive to membersLikely to be concerned with general rather than individual issues; depends on financial and advisory support for success. Advocacy by individuals on behalf of a groupElected representatives; Partnership Board; Advisory panelsContribution of relevant views; expression of democratic participation and rightsIndividuals may not be representative; views expresses may not be those of the group as a whole Source: Nzira Williams 2009, p.30) How to cite Integrating the understanding of theory, practice, and values, Essay examples

Strategy Speed and Quality

Question: Discuss about theStrategyfor Speed and Quality. Answer: Introduction With the current dynamic markets and technology, organizations are seeing the need to ensure that they keep themselves ahead by having a competitive advantage. With the pressure to improve productivity, speed, and quality, companies have settled on some tools such as benchmarking, total quality management among others with the aim of realizing a return on investments (Mazzucato, 2017). One should realize that goals and missions do not amount to strategies. It should be noted that strategies are all efforts that are applied to make a company different from another so as to attract large numbers of customers to realize large benefits (Thomson, 2010). The significance of strategy is choosing a unique position that is difficult for any competitor to match. As much as operational effectiveness is momentous to quality production, it does not assist a business to have a competitive advantage because it is easy to imitate. To have a competitive advantage, companies should ensure that they fo rmulate a series of unique activities into its operations that is difficult to be imitated, thus strategy. With the video relaying the example of IKEA strategy by the use of tradeoffs, an organizational leadership has the full responsibility for ensuring that an effective strategy is achieved. Case in point, a management that focuses on common issues such as resources and competencies, limits an organization to have a viable strategy. Also, it is important to learn that strategies are better realized when executed. This is because there are emerging issues which can change how an intended strategy works. This means that timing is momentous when executing a strategy. Australia is a developed country where almost every individual has financial muscles thus the need for banks. Banks make money from the total deposits that customers make and also from the total number of loans issued (Macpherson, 2012). Banks receive competition from multinational banks (Dinc?er and Haciog?lu, n.d.). The focus of this section is on Bank of Queensland in Australia and how it can apply the above ideas on strategy to have a competitive market. Australians have many banks and other financial institutions to choose from for lending, checking and crediting services. Since strategies are far from operation efficiency, Bank of Queensland can focus on community marketing. Since Bank of Queensland is a big bank, it needs to have many branches across Australia. Besides, each branch of the bank should operate as per the behavior of a community since people need to feel comfortable with a bank. Product building is another strategy that banks can use to maintain a competitive adv antage. Most banks use low-interest rates as one of their strategies. But for Bank of Queensland, it can use product strategy of no minimum requirement for money withdrawal and also fewer charges for any transactions. A strategy such as this, is far from the goals and missions of Bank of Queensland since it will be hard for any of its competitors to be able to keep with that kind of competition because it will be deemed as not viable financially. Most strategies seem to have end results of losses but as soon as they are applied, is when their financial viability is realized. References Dinc?er, H. and Haciog?lu, U. (n.d.).Global strategies in banking and finance. 1st ed. IGI Global, p.231. Macpherson, D. (2012).Macroeconomics: Private and Public Choice. 1st ed. Cengage Learning, p.255. Mazzucato, M. (2017).Strategy for Business: A Reader. 1st ed. SAGE, p.39. Thomson, N. (2010).Basic strategy in context. 1st ed. Oxford: Wiley-Blackwell, p.1.

A Tragic Hero Essays - Literature, Arts, Culture, The Crucible

A Tragic Hero Essays - Literature, Arts, Culture, The Crucible A Tragic Hero Heroes are viewed as vital to a story within American literature. These heroes accomplish both big and small feats in their own stories. They can help a whole city that's in danger, or just help themselves get over some internal conflict. Whichever situation they fulfill, they're considered a hero and have a special place within any kind of story. In literature we have a specific kind of hero that often makes appearances in stories, this would be a tragic hero. A tragic hero has flaws and makes errors, just like an ordinary person, which makes it easier for readers to relate to the hero and pity them (Miller). The hero's story also displays how they must make a difficult decision that could have effect on many people close to them. A prime example of a tragic hero would be John Proctor from The Crucible . Proctor fulfills many of the characteristics of a tragic hero, he has major flaws and has to make many crucial decisions throughout the play. Due to his actions within the play, while also dealing with the repercussions of his past mistakes, he can easily be considered a tragic hero. John Proctor, like any other human, made mistakes in his past. He has an affair with the household servant, Abigail Williams. She is the niece of Reverend Parris, who preaches at the local church. Parris is disliked by a majority of the town of Salem due to his extreme preaching about how everyone is going to hell. John Proctor dislikes and distrusts Parris a great deal, which in turn causes him to not attend church and not have his youngest child baptised. These facts are used against him later in the play because another man, Reverend Hale, wrongly judges him and makes him look bad to the court. So when he tries to save his wife and present evidence that make her look good, the court already views him badly. Once Proctor is accused of witchcraft he faces his biggest decision he has to make, Overall, Proctor is a good man that falls into bad situations and makes mistakes, like any other person. It's how he handles those issues and what he goes through that makes him a tragic he ro. According to Aristotle, a tragic hero is a literary character who makes a judgement error that inevitably leads to his/her own destruction. In The Crucible, John Proctor's judgement error would be his affair with Abigail. He finally realizes the only way to get the trails to stop However, what really leads to his destruction is his flaw, his excessive pride also known as hubris. At the end of the play, when he almost confesses, he refuses to let the court post his confession on the church door and tears the confession up. This shows how his pride got in the way and led him to accept his death. Obviously he had other reasons for not confessing including regaining his goodness and dignity, which also build his character as a tragic hero. There are two things that Proctor holds close to him, his wife and his good name. In attempt to save both of these things, he initially admits to the affair between him and Abigail. This is the major decision he makes that he thinks will discredit Abigail and her friends in the court: A man may think God sleeps, but God sees everything, I know it now. I beg you, sir, I beg yousee her what she is. . . . She thinks to dance with me on my wife's grave! And well she might, for I thought of her softly. God help me, I lusted, and there is a promise in such sweat. But it is a whore's vengeance, and you must see it; I set myself entirely in your hands. (Miller 873) Because he makes this significant decision it adds to him being a tragic hero due to Aristotle's description of a tragic hero. His actions were honorable due to the fact that he exposed himself and his mistakes for the well being of his wife and their marriage. Over the course of The Crucible John Proctor did many things to

Eye Witness Testimony †Psychology Essay

Eye Witness Testimony – Psychology Essay Free Online Research Papers A witness is someone who has firsthand knowledge about a crime through their senses and can certify to its happening and someone who has seen an event at firsthand is known as an eyewitness. Witnesses are often called before a court of law to testify in trials and their testimony is considered crucial in the identification and arrest of a suspect and the likelihood of a jury convicting a defendant. Eyewitness testimony needs to be reliable as it can have serious implications to the perceived guilt/innocence of a defendant. Bartlett’s study involved the Indian folk story ‘War of the Ghosts’. He wanted to investigate the effect of schema on participant’s recall of a story. Participants were asked to read the story and then asked to recall it after a period of time. He found that the story became shorter and participants often added their own interpretation and the whole theme of the ghosts was often forgotten. Bartlett decided that memory is not accurate and is actively constructed using schemas. A study by Loftus and Palmer in 1974 looked at the effects of language on recall in eyewitness testimony. They wanted to show that leading questions could have an effect on the memory. Participants were shown a video of a car accident and then, as if they were eyewitnesses they were asked to describe what had happened. Specific questions were asked including â€Å"about how fast the cars were going when they hit / smashed / collided / bumped / contacted. A week later the participants were asked â€Å"did you see the broken glass†. The findings showed that the estimated speed was affected by the verb used in the question. The group with the verb smashed estimated the speed to be 40.5 mph yet the group with the verb contacted only estimated the speed to be 31.8 mph. The stronger the verb the higher the estimated speed, when the participants were asked if they saw the broken glass it was found that out of the group with the verb ‘smashed’ over 32% said they had seen the glass where only 14% in the group with the verb ‘hit’ said they had seen it. There was in fact no broken glass. Our schemas tell us it is reasonable to assume that there would be broken glass at the site of a car accident when the word smashed is used. The strengths of the study were that it was a controlled experiment and Loftus could control all the extraneous variables, the study could be easily replicated and it had real life implications for eye witness testimony. There was however some weaknesses in that the study lacked ecological validity, it was ethically questionable and the participants were all students and therefore may not be a representative sample. Loftus and Zanni (1975) did another study to show that it wasn’t only a verb that would have implications for the memory but that changing the word ‘a’ or ‘the’ could also have a dramatic effect. Participants were shown a video of a car accident, and then one group was asked â€Å"Did you see a broken headlight?† and the other group was asked â€Å"Did you see the broken headlight?† There wasn’t actually a broken headlight but the group asked the ‘the’ question assumed the headlight was broken and 15% said they had seen it whereas only 7% of the ‘a’ group answered yes. The use of the word ‘the’ makes the assumption that the car headlight was actually broken. In conclusion this essay has shown that eyewitness testimony and those witnesses can be lead into giving what they believed to be true recollections of a crime or incident with the use of different verbs or changing the definite article. Research Papers on Eye Witness Testimony - Psychology EssayThe Relationship Between Delinquency and Drug UseEffects of Television Violence on ChildrenMind TravelResearch Process Part OneStandardized TestingThree Concepts of PsychodynamicUnreasonable Searches and SeizuresHip-Hop is ArtIncorporating Risk and Uncertainty Factor in CapitalThe Masque of the Red Death Room meanings

Sustaniable operations management Essay Example | Topics and Well Written Essays - 1750 words - 1

Sustaniable operations management - Essay Example The definition that is adopted by the World Tourism Organization, however, describes sustainable tourism as â€Å"tourism which leads to management of all resources in such a way that economic, social and aesthetic needs can be fulfilled while maintaining cultural integrity, essential ecological processes, biological diversity and life support systems.† By this token, the industry is referred to in a host of other ways: e.g., eco-tourism, green travel, environmentally and culturally responsible tourism, fair trade and ethical travel (Shay, McHarry, & Gardiner, 2002, p. 1). There are some who disagree with such sweeping definitions, however, because they convey a simplified meaning to what is actually a complex and challenging area of endeavour, while conversely, highly detailed definitions tends to reduce the impression of sustainable tourism to a few limited elements. One comment is that the definition arrived at in the academe comes across as too scientific and technocratic, so as to alienate practitioners (Swarbrooke, 1999). The diagram depicts the interrelatedness of the different terms, none of which fully comprehends the complete meaning of sustainable tourism. Therefore, while ecotourism is often used synonymously with the term, it focuses on the ecology and neglects the cultural, economic, and aesthetic aspects. Ecotourism per se, taken in its strictest sense, accounts only for a small portion of the tourism market – estimated at roughly 3-7%, according to the World Trade and Tourism Council (WTTC) and the World Trade Organization (WTO) (Shay, et al., 2002). Tourism has grown to be a major industry that accounts for a significant portion of the revenues generated by the economy of many countries. That it has other, less tangible but equally beneficial impacts is apparent for both the destination community and the visiting tourists, in the form of heightened mutual understanding and appreciation of each

Ive got some SPSS data (graphs and tables etc) can be found in a word Assignment

Ive got some SPSS data (graphs and tables etc) can be found in a word file named (the data) and need to be analysed and interpreted in the form of writing - Assignment Example The study is reduced to the involvement of only two ordinal variables and hence statistical designs using two-variables are only used to obtain results. It has to be mentioned that at the time of the original data collection, private schools had the reputation of being better and more progressive than state schools with respect to English teaching. The first research hypothesis intends to analyze the importance given by teachers to explain the meaning of new English words to students. That is, there is difference between state and private schools in the extent to which teachers explain the meaning of new words in English; specifically teachers will explain words in English more in the private school. The design involves only two independent groups and the dependent variable is the score or rating. The descriptive statistics (Table 1) shows that the study involved 108 students, 67 belonging to the state schools and 41 belonging to private schools. The average of the rating given by the private school students (0.5366) is greater than that of the public school students (0.4627). A frequency chart (Fig. 1) was produced to compare the ratings the given by the students between state and public schools on the extent to which teachers explain the meaning of new words in English. The least rating was 0 representing never and 3 representing always. It is noticed that nearly 40 students of the state schools claimed that their teachers never explained the meaning of the English words. Nearly 44 students of the private schools claimed that their teachers either never or seldom explained the meaning of the English words. Only 1 student agreed that the teachers always explained the meaning. The independent samples T test is used to test the equality of the above given averages. The Levene’s test also is used to find whether the assumption of homogeneity of variables is satisfied. Table 2 shows the results.

Motivational statement for joining Army Medical Corp Reserve Essay

Motivational statement for joining Army Medical Corp Reserve - Essay Example military as a field officer, my immediate objective to joining the Army Medical Corp reserve is to help solders who suffer from both medical and psychological injuries together with their families. This is majorly because I want my country’s defense force to have a positive image of a safe profession that can attract dedicated personnel. By working hard as a medical officer, and through influencing dedication among other members of the reserve, I hope to elimination permanent disabilities among wounded officers, and subsequent psychological instability among their family members. This will not only be a motivational factor to serving army personnel and their families but will also motivate others who currently perceive the military as a risky profession, to join the forces in protecting our country. My interest in adventure, structures, and challenging encounters, opportunities that are available within the reserve’s scope, are also motivators to my desire to join the Army Medical Corp reserve. I am also dedicated to exercise the expected level of discipline that is required within the

Emerging Real Estate Market in Mumbai

Emerging Real Estate Market in Mumbai Introduction: India has firmed up its place in the world business space prompting global business houses to sit up and take a fresh view on India as a business and investment destination. In the last two years, Indian economy has grown well despite nature’s fury or other global adverse events. India is fast establishing itself as an alternative to China in a variety of sectors, particularly IT-ITES, manufacturing, and real estate. The most spectacular resurgence has been that of the real estate sector, which is back in business with a bang. New projects, superior quality product, new growth corridors, increased infrastructure spending, falling cost of finance and interest, and growing capacity of common man in the key reasons behind the steady growth in real estate market. With stock market being highly volatile, investment in real estate has begun to look attractive and competitive with typical yields of 10-12% per annum are achievable, even though specific return is always linked to property specific factors, dynamics of real estate market and the overall economic performance. Real estate is fast turning out to be a compulsive investment bet as compared to other investment vehicles such as capital and debt markets, bullion market etc. It attracts investors by offering a possibility of stable income yields, moderate capital appreciation, tax structuring benefits and higher security being tangible asset. With these prime factors there are several micro factors responsible for the returns on investment and those are location of the property in macro and micro context, the usage of property, the quality of tenant, the capital value and achievable rental, the prevailing structures of property tax and stamp duty. The study includes the macro economic factors that make India a favourable investment destination. The purpose of the study is to give a comprehensive overview of the emerging Real Estate market of Mumbai. Today’s market is at a stage of ambiguity so a detailed study is required in this respect. In the final report detailed analysis will be carried out by fragmenting the market into Residential, Commercial and Retail space. An overview of each of these markets is included in the current report. The study will also include what are the various financing options in the emerging markets currently. A detailed survey will be carried out for the final report based on a questionnaire and will be send out to the various players ( Private Equity funds, Domestic Financial institutions, Local Real Estate Developers and Property Consultants to assess the various options available for Fund raising. Currently an introduction is also included on the same. Characteristics of the Real Estate Market in India: With reference to the availability of infrastructure facilities, following cities are currently attracting MNCs/corporate/real estate developers: Tier I cities, Mumbai (Commercial hub), Delhi (Political hub) and Bangalore (Technological hub): Preferred option for many new market entrants Command the highest international profiles and significant proportion of FDI Offer qualified labour pool and the best infrastructure facilities Exhibit development of sub-urban commercial real estate Yield of 9.5 – 10% (Real Estate Sector – The India Story Submitted by Miss Sonia Sahni Asst Manager Corporate and Investment Banking, ABN AMRO Bank, Nariman Point, Mumbai) 2.0 Macro-Economic Factors India: Background of the Economy of India during 2008 and early 2009: Last year 2008 was quiet a setback for the real-estate sector in India after the boom of the previous three years where the property market registered a return of more than 30-40% every year. The sector had faced a down trend where the property prices corrected by over 30%. This was due to the sub-prime crisis in the United States and also the correcting Capital Markets and bankruptcy of the MNC’s and the Banks. This resulted in loss of liquidity and hence a fall in demand. In August 2008 the inflation reached as high as 13% which forced a knee jerk reaction from the RBI (Reserve Bank of India) to cut the cash reserve ratio, the repo and the reverse repo rate which warranted the Banks to lend less and as a result of the further shortage in liquidity the real-estate market took a plunge. However, the economy has recovered by leaps and bounce and which is reflected by the chart below: Sam Mahtani, emerging equities manager at FC, is confident on Indias economic prospects. Over the next 10 years, UBS estimates economic activity in India will increase by around 8.5% a year, a rate comparable with China and beyond the global average. We think that this growth rate could be achievable if Indian policymakers start to undertake structural reforms in the economy. Over the next five years, the government is committing an estimated US$500 billion to road, rail, port and other vitally needed upgrades. If the right legislation is put in place and managed effectively, this could represent the springboard for long-term economic growth rates in excess of Chinas†, he believes. GDP of India: The chart shows that the GDP growth rate of India and China are far ahead than any other country in the world. This shows that the standard of living in the country is high. GDP reflects the total income, the total output and the total expenditure of the country. The economy of the country is the twelfth largest in the world as per the recent market exchange rate and it is ranked number four as per purchasing power parity. It is the 2nd fastest growing economy in the world. The service sector of India contributes more than 50% to the GDP and real-Estate sector is the third largest among it. Mumbai is the sole largest contributor to the national GDP and the economics of Mumbai further supports the fact. The above figure shows the long term growth rate of GDP of India against the Developed counties of the World. Economy of India (mid 2009) and its impact on Real Estate: However the economic condition of the country has improved in the last year. This was a great precedent for the Real-estate sector in India and especially Mumbai. It has always been witnessed during recession that the financial cities of the world take the hardest hit but on the other hand recovery is quickly as well. The inflation rate in India is 0.30% on 1st December 2009. The CRR is 5% and repo rate is 4.75% and reverse repo rate 3.25% which is commendable and which has increased liquidity in the market and as a result of this the property prices have gone up in the country. The stock market has recovered exceedingly well and it had an almost 50% rise than the last year’s index. This has further increased the confidence amongst the analysts and the investors. In Mumbai the property rates have accelerated and it is not far behind the rates which were witnessed during the boom period. Mumbai has seen a constant price in the property prices since mid 2009 due to the strengthe ning of the economy. Source: CBRE report 2009 By 2030 India will need up to 10 million new housing units per year. Rapid population growth, rising incomes, decreasing household sizes and a housing shortage of currently 20 million units will call for extensive residential construction. The financing of owner-occupied housing in particular holds out enormous market potential. (Deutsche Bank Report May 8, 2006). Population in India: India is the 2nd most populated country in the world at present after China. However, as per the numbers projected in a United Nations Report states that the Indian population would be more than the Chinese population by 2050. (Population of India is also set to take over China by 2050 as per the UN report.) 1.0 MUMBAI – OVERVIEW: Mumbai, the capital city of the state of Maharashtra, is the one of the largest metropolis in India. Known as the financial capital of the country, the city contributes almost 5% of India’s GDP. It is a multi-functional city with a vast array of economic opportunities, which has resulted in attracting a large migratory population from all over. The city sports a highly cosmopolitan environment with an intricate urban structure. Mumbai has long been home to several large multinational companies and is invariably the first choice for a new organization entering India. Demographic Pattern: Greater Mumbai accounts for 13% of Maharashtra’s population and 1.2% of India’s population[1]. The rate of growth of population has gone down but has been higher than the growth rate of Maharashtra. Source: Census of India Over 1901-71 period, the population in the island city was steadily increasing and was more than that of the suburbs. However, during the last 3 decades the population growth in the island city has been negligible whereas that in the suburbs is increasing at a rapid rate. Among the suburbs, the western suburbs (ward H, K, P and R) are more densely populated than the Eastern suburbs (ward L, M, N, S and T). The following graph indicates the projected population growth in Greater Mumbai. The above graph further illustrates that the population of Mumbai is set of increase manifoldly, as against the other Metros of the country. 2.0 MUMBAI REAL ESTATE MARKET OVERVIEW: The island city of Mumbai is the commercial capital and economic growth engine of India. Originally composed of seven small islands, land reclamation and infill carried out during the 18th and 19th century integrated these islands into a continuous peninsula (Deshpande and Arunachalam,1981). Beginning as a seaport on the west coast of the Indian peninsula, Mumbai has steadily diversified its economic base to include value-added manufacturing and financial services. The country’s central bank, the Reserve Bank of India and two of India’s largest stock exchanges, the Bombay Stock Exchange and the National Stock Exchange are all located here. Mumbai accounts for one-tenth of factory employment and value-added manufacturing, while the port handles more than one-third of the total value of foreign trade (Deshpande, 1996), making the Brihan Mumbai Municipal Corporation one of the richest, with a budget of more than USD 1.2 billion (Mohan, 2003), exceeding the budget of nine S tates and Union Territories of India. This economic growth is sustained by and in turn, drives the steady influx of migrants from rural and regional centres of the country. Consequently, the Mumbai Metropolitan Region (MMR) is one of the fastest growing regions of India. Its population increased from 7.7 million in 1971 to 18.3 million in 2001 (Census of India, 2001) and is projected to increase to 22.4 million by 2011(MMRDA, 1999). (Journal on HOUSING TENURE FOR THE URBAN POOR: A CASE STUDY OF MUMBAI CITY by Gaurang Desai and Madhura Yadav). Mumbai has gained immense prominence as one of the growing corporate and IT destinations in India. The Mumbai real estate scenario has been reflective of the burgeoning real estate sector of the country. The city has a mature and demand-led market driven by end users. Investors and HNIs have also been actively investing in various pre-leased properties with insurance, banking, IT/ITES, residential and retail sector occupants. Overall, there has been an increase in demand as well as supply and an appreciation in the real estate values across various micro markets in the city. Economy of Mumbai: The per capita income of the city is Rs 66,360 which is three times higher than the national income. It contributes 1/3 rd of the total income tax collection of the country. It contributes nearly 60 % of the total income generated from custom duty of the country. 40 % of India’s foreign trade. Corporate tax collection of the city is Rs 40 billion. 20 % of the total excise duty collection of the country. Mumbai Metropolitan region generates 5 % of the total GDP of the country. The island city of Mumbai is the economic growth engine and commercial capital of India. A combination of in-migration combined with a severe land shortage has resulted in Mumbai having one of the most expensive real estate in the world. As a result the city faces housing crisis with an estimated 60% of its total population living in slums, adopting multiple informal housing tenures. Property Index of Mumbai: Database:This index is based on minimum database size of 20,000 data points every month and the analysis has been drawn over a period starting Jan’09. The prices of properties are obtained across micro-markets through property listings on the website as well as based on nationwide sales force. Index Algorithm:The complex algorithm takes into account the property prices as base and then factors in the demand and supply of residential properties for each of the cities covered by it. Care has been taken to give weight age to cities in line with the size of underlying property market. (Makaan.com) The Real-Estate market of Mumbai can be divided into three types- Commercial Residential Retail Mall 4.1 Commercial Real Estate Market: Mumbai’s commercial market is divided into its traditional business districts and the recently developed business addresses. The Central Business District (CBD) of the city is located in South Mumbai and comprises of: Nariman Point – Often said to be the ‘Manhattan of India’, Nariman Point has traditionally been the most attractive location for international companies, in particular international investment banks, insurance companies and consulting firms. The areas concentrated within a radius of 1.5-2 km around the CBD are termed as the off-CBD locations, which include: Churchgate /Fort/ Fountain – This district has traditionally housed the city’s Business and Government establishments. It also houses numerous National and International Banks. Cuffe Parade – Primarily an up market residential area with a host of high-rise buildings. Some notable commercial buildings like the World Trade Centre and Maker Towers are located here. Ballard Estate – A prime commercial area where the buildings have European Renaissance architecture. The off-CBD business centres of the city have expanded to include a number of areas mostly oriented towards central Mumbai: Lower Parel: This industrial belt of Mumbai is transforming itself into a commercial hub of the city. This area is being developed on what used to be the textile mills. With mill land being freed for commercial, retail and residential development, the Lower Parel area will see massive supply of space. Currently, there are a number of retail, entertainment and advertising companies located in Lower Parel. High Street at Phoenix Mills is the most prominent retail development in this region. Worli-Prabhadevi: The Worli–Prabhadevi area has been a conventional stronghold of number of corporate offices. Besides, there is also the presence of two malls – Crossroads and Atria, in the stretch. The ongoing Bandra-Worli sea link is expected to give a further fillip to this area. The Suburban Business Districts (SBDs) of the city comprise of the following locations: (Image of the Bandra Kurla Complex) The Bandra-Kurla belt: The Bandra-Kurla Complex (BKC), which has been developed as an alternative business district to the CBD, has attracted a number of corporate. ICICI, National Stock Exchange, Wockhardt and ILFS are some of the important corporate located here. The Andheri-Kurla Belt: This area is also an upcoming location of choice for IT/ITES companies, banks, insurance companies, etc. Some of the sought after Grade ‘A’ buildings in this belt are ‘Technopolis’ and ‘Solitaire Corporate Park’ where a number of corporate are relocating. The Malad-Goregaon Belt: The Malad Goregoan belt has become the preferred destination for IT/ITES companies due to the availability of large floor plates at competitive rentals. The superior quality of buildings offered at MindSpace is another motivating factor for technology companies looking for world-class amenities to come here. The Powai Belt: Another suburb, the Powai belt is scoring well on the IT/ITeS front. The pricing in rental terms is similar for Powai and Malad. There will be 600 new shopping centres by 2010. India’s burgeoning middle class will drive up nominal retail sales through 2010 by 10% p.a. At the same time, organised retail is becoming more important. At present organised retail accounts for a mere 3% of the total; by 2010 this share will already have reached 10%. (Deutsche Bank Research 6 may,2006) The Peripheral Business District (PBD) of the city consists of: Navi Mumbai: Navi Mumbai is being developed as a counter magnet to Mumbai, with the basic objective of curbing further congestion in the city. The potential target audience, apart from the existing residents, arises from the 40,000+ IT/ITES industry workforce travelling to Navi Mumbai daily. Consequently, the government has undertaken a number of initiatives to promote further development of IT ITES sector in Maharashtra state. These include formulation of a progressive sector-specific policy, development of IT parks and development of the â€Å"Knowledge Corridor† between Navi Mumbai and Pune. Sector 17 of Vashi and CBD Belapur were developed as the prime commercial areas for Navi Mumbai. A number of corporate have moved to Navi Mumbai, the largest amongst them being Reliance Industries. Millennium Business Park at Mahape and Airoli Knowledge Park at Airoli, developed by MIDC houses several IT/ITES companies like Aptech, CMS computers, Datamatics, Mastek, TCS, Patni etc 4.2 Residential Market Scenario: Residential real estate in Mumbai is today amongst the most expensive in the country. The key residential areas in the city are as follows: The south and central locations of the city like Colaba, Napean Sea Road, Worli, Breach Candy and Pedder Road are the most preferred locations for leased accommodation for the senior and expatriate staff. Amongst the key suburban locations, Bandra and Malad in the northwest and Powai in the northeast are equally preferred due to proximity from the emerging commercial/office locations. Other suburban residential micro-markets of Andheri, Goregaon and Mulund also fall in the preferred category. In fact, these areas are witnessing fresh construction activity with projects from prominent residential developers like K.Raheja, Oberoi Constructions, Royal Palms and the Runwal Group. Luxury housing projects, which have been traditionally concentrated in South and selective Central Mumbai locations, are now being planned in the suburban regions like Malad as well as peripheral districts. Currently, a number of IT/ITES companies have located there. The Central Mumbai belt consists of areas such as Mahalaxmi, Lower Parel, Worli, Parel,Byculla, Chinchpokli, Sewri, Wadala, Dadar, Matunga and Mahim. The micro markets of Worli are currently established markets and command a premium over other central Mumbai pockets. The current ongoing rates in Worli vary between Rs. 25,000-30,000 per sq. ft. Lower Parel is fast emerging as a residential and commercial destination, with additional supplies expected from the mill lands. 4.3 Mumbai Mill Lands: (Image of an old Mill in Mumbai) Bombay had first developed as an industrial city through the growth and expansion of the cotton textile industry from the late nineteenth century to the nineteen forties. Now known as the Mill Lands, the textile industry was located in the central districts of the Island City. After World War II and Independence, to the fifties, sixties and seventies, the industrial base of the urban economy diversified into petroleum and chemical production, and then into petrochemicals, pharmaceuticals, consumer goods and engineering industries. These new industries were mostly located on the eastern fringe of the Island City, in the Eastern suburbs, and in the seventies and eighties expanded to Thane and its surrounding district, as well as the Thane-Belapur belt flanking Navi Mumbai. Till the late seventies, the Cotton Textile Mills were booming with activity but in 1982 things changed. The unorganized Powerloom sector had taken over and it was becoming uneconomical to maintain large-scale industrial units within the city limits on account of high power and Octroi costs. Moreover, the 18-month long crippling strike by the mill workers proved to be the final nail in the coffin. All this led to huge losses and the running of the Cotton Textile Mills became unviable. Several mills were declared sick and a few even shut down their operations. Only a few managed to survive. The total area occupied by all the mills put together is approximately 605 acres (2,446,278.39 sq. mt.) There are three categories of ownership of the mills, namely, National Textile Mills (NTC), Maharashtra State Textile Corporation and Private Owners: 4.4 Mumbai Port Trust Land: The proposed release of Mumbai Port Trust (MbTP) land could change the face of the eastern waterfront in Mumbai. MbPT has about 40 acres of surplus land of which a substantial portion is on the environmentally sensitive eastern waterfront (areas such as Sewri, Wadala). Large tracts of MbPT land had been leased out to private companies, several of whom have shifted their facilities to other areas, but continue to maintain a token presence on the leased land. With the construction of Trans- Harbour Link and the Special Economic Zone at Dronagiri this land is expected to turn out into a virtual goldmine. The MbPT policy for commercial utilization of this land has been awaited for several months since the new board of trustees were not constituted. Now with 17 of the 21 trustees in place, the process of formulating the policy has been set in motion. The subcommittee is expected to unveil a plan of action when MbPT board meets on August 9. Besides the above, there are some Port Trust plot that are being released in the market. These include a 28.39 hectare (approx. 70 acres) plot at Titwala, vacant lands in isolated pockets totalling to 5.17 hectare (approx. 14.5 acres) and a slum-encroached plot measuring 6.77 hectare (approx. 17 acres) on the eastern waterfront. Floor Space Index (FSI): FSI stands for Floor Space Index. Municipalities and Government’s allow only a certain amount of FSI. Otherwise there are possibilities of sky scrapers been constructed in narrow spaces that would be leading to parking and various other problems like the one existing in downtown Manhattan. In Mumbai, FSI was first introduced in 1964 and the value than was 4.5 times. Over the years there were several changes made to the rule which depends broadly on the leading Municipal Corporation and the State Government. With an average of 2.9 m2 per person, the consumption of residential floor space in Mumbai is one of the lowest in the world. More than 50% of the city’s population lives in slums. This type of record would be expected from a city in a desperate economic situation. However, this is not the case. Mumbai is a prosperous city with an expanding economy. (Mumbai FSI conundrum: The perfect storm: the four factors restricting the construction of new floor space in Mumbai – By Alain Bertaud 2004). The very low consumption of floor space coupled with very high real estate prices would suggest that a number of supply bottlenecks might be responsible. By comparing Mumbai to other metropolis in Asia it appears that indeed 4 factors are exceptional and contribute to the very low supply of floor space: An exceptional topography that reduces the amount of developable land; A draconian and ill-conceived land use policy restricting the area of floor space which can be built on the little land available. Muddled property rights preventing households and firms to freely trade land and floor space as a commodity; A failure to develop major primary infrastructure networks, which prevents the city to overcome its topographical constraint. In turn, the weakness of the infrastructure network is used to justify the restrictive land use policy. (Alain Bertaud July 15th 2004). Comparing Mumbai to other similar sized Asian cities, (Bertaud 2004) found that within a radius of 25 km from the city centre, sea and water bodies occupy 66% of the total area for Mumbai while it was 22% in the case of Jakarta and 5% for Seoul. Cities with such extreme topography often compensate for the lack of land by allowing the height of buildings to be increased. In the case of Mumbai however, this is not the case. While the Floor Space Index (FSI) in most large cities varies from 5 to 15 in the Central Business District (CBD) to about 0.5 in the suburbs, in Mumbai the FSI remains uniformly fixed at 1.33 for the Island City and 1.00 in the suburbs (Alain Bertaud, 2004). (The above map shows the different FSI values in the city.) Transfer of Development Rights (TDR): A cartelisation of Mumbais real estate, one of the costliest in the world, in the matter of transferable development rights has put upward pressure on prices and has also caused concern in policy circles. In case of Mumbai, TDRs were used initially to compensate plot owners whose development right was restricted due to some public programmes like widening of roads etc. Later this was used for compensating owners of Heritage buildings who could not develop their lands. More recently they have been used in case of Slum Redevelopments where additional development rights could not be consumed on a plot due to over density reasons. There are also talks about using TDR for redevelopment of old buildings. Another detail about TDR is that it can be only used in the same or northern ward of the generating plot Hence you could see sudden additions to suburban buildings that have high property value.However, it also led to haphazard and unplanned development in the suburbs. There was an increased the pressure on suburban infrastructure. In a recent development, just six-odd builders and developers hold 70 per cent of the 2.5-3 million sq ft TDR available. The price of TDR has also surged to Rs 2,500-Rs 3,000 per sq ft from Rs 800-1,000 sq ft in the past six months. Realty sector experts in Mumbai cartel had meant a rise in TDR prices practically every month. The development is a sequel to a 2008 order of the High Court here, which stayed a state government decision to allow 33 per cent extra building rights (measured as more of Floor Space Index, or FSI, the ratio of what can be erected on a plot of land to its area) in return for more premium. Nainesh Shah, executive director of Everest Developers, argued that TDR rates can be brought down only by an increase in the stock of land and the government are the only entities that can make this happen. More land needs to be released, Ashutosh Limaye, associate director, strategic consulting, Jones Lang LaSalle Meghraj, saidâ€Å"TDR trading follows the open market principle. For areas that are popular and in demand for real estate development (Bandra, Chembur, Vile Parle, etc), land prices is high and it makes sense to buy TDR even at a higher rate†. However, A Vile Parle-based activist and former builder, Bhagwanji Raiyani, filed a Public Interest Litigation in the Bombay High Court asking for a total ban on TDR, following which the court in an interim order banned the use of TDR along the Eastern and Western Express Highways and the Eastern and Western suburban railway tracks. In the recent times, the government is considering a proposal to increase floor space index (FSI) in the suburbs to two without taking the transfer of development rights (TDR) route. Under this, for example, a builder involved a slum project in Trombay gets the nod to transfer development rights to the north of the rehabilitation site. Because of this policy, the suburbs are witnessing the construction of tall towers, which use TDR. There has been a 100% rise in property prices in Mumbai, Thane and other places, primarily because of the high cost of TDR. If a builder buys TDR at Rs 4,500 per sq ft, he will have to add another Rs 4,500 per sq ft towards the cost of land and construction. This forces him to sell flats at Rs 10,000 per sq ft even in a distant suburb like Mulund, which is an absurd rate. No wonder there is tremendous consumer resistance. Around 50% of the flats remain unsold because the prices are beyond an average buyer’s reach,’’ (Subhash Runwal, former office-bearer of the Maharashtra Chamber of Housing Industry, reported in Times Of India). The demand for FSI is 10 crore sq ft per annum in the suburbs. If the government sells this at even Rs 2,500 crore, it can generate a whopping Rs 25,000 crore annually. Half of this revenue can be used for improving infrastructure in the suburbs and the rest for development work in the rest of the state†. The Golden Question: How to design new FSI and TDR values for Mumbai? Design a spatial land use strategy based on current land values and future investments in transport (bridges, highways, metro, BRT). Identify high accessibility nodes. Divide the existing and future built-up areas into land use zones based on accessibility and on existing character of the area; Identify and map the historical areas and natural areas that need to be protected, those that should not be redeveloped, and where the new FSI will not be applied; Design regulations (FSI, % lot coverage, setbacks, etc) for each zone. Comprehensive plan ready and approved for the entire city No more TDRs are issued during preparation of plan, however, already issued but not yet used TDRs are honored. Progressive transition: New FSI plan prepared and approved for 2 or 3 main streets and high intensity areas around new metro stations and bridge access. New TDRs can be issued but they have to be used in the areas already mapped for FSI increase. Meanwhile the comprehensive strategy is prepared and approved. More areas for FSI increase are prepared every year and where TDRs can be used. After 2 or 3 years new TDRs are issued only for slum redevelopment and for historical area protection. The above is just a model example of how the increase in FSI would solve the Real Estate problems in Mumbai. If the Government adopt the path which has been used in downtown Manhattan than it would reduce Real Estate prices in the city, help to relocated millions of people, abolish the TDR practice and the additional space could be used to improve the lagging infrastructure of the city. 4.5 Mumbai Salt Pan Land http://infochangeindia.org/Agenda/Coastal-communities/Saltpan-city.html The proposal to use saltpan lands first emerged in 2002 when the Maharashtra Housing and Area Development Authority (MHADA) warned that it was running out of land and asked the state to release land belonging to various departments like defence, the Bombay Port Trust, and saltpan lands. In 2006, the then Union Minister for Commerce and Industries Kamal Nath and Ex Maharashtra Chief Minister Vilasrao Deshmukh worked out a formula of developing saltpan lands on a no-profit-no-loss basis. The scheme proposed allowing private developers extra FSI for commercial purposes after setting aside 225 sq ft houses to accommodate slum-dwellers. In 2007, a committee of u Emerging Real Estate Market in Mumbai Emerging Real Estate Market in Mumbai Introduction: India has firmed up its place in the world business space prompting global business houses to sit up and take a fresh view on India as a business and investment destination. In the last two years, Indian economy has grown well despite nature’s fury or other global adverse events. India is fast establishing itself as an alternative to China in a variety of sectors, particularly IT-ITES, manufacturing, and real estate. The most spectacular resurgence has been that of the real estate sector, which is back in business with a bang. New projects, superior quality product, new growth corridors, increased infrastructure spending, falling cost of finance and interest, and growing capacity of common man in the key reasons behind the steady growth in real estate market. With stock market being highly volatile, investment in real estate has begun to look attractive and competitive with typical yields of 10-12% per annum are achievable, even though specific return is always linked to property specific factors, dynamics of real estate market and the overall economic performance. Real estate is fast turning out to be a compulsive investment bet as compared to other investment vehicles such as capital and debt markets, bullion market etc. It attracts investors by offering a possibility of stable income yields, moderate capital appreciation, tax structuring benefits and higher security being tangible asset. With these prime factors there are several micro factors responsible for the returns on investment and those are location of the property in macro and micro context, the usage of property, the quality of tenant, the capital value and achievable rental, the prevailing structures of property tax and stamp duty. The study includes the macro economic factors that make India a favourable investment destination. The purpose of the study is to give a comprehensive overview of the emerging Real Estate market of Mumbai. Today’s market is at a stage of ambiguity so a detailed study is required in this respect. In the final report detailed analysis will be carried out by fragmenting the market into Residential, Commercial and Retail space. An overview of each of these markets is included in the current report. The study will also include what are the various financing options in the emerging markets currently. A detailed survey will be carried out for the final report based on a questionnaire and will be send out to the various players ( Private Equity funds, Domestic Financial institutions, Local Real Estate Developers and Property Consultants to assess the various options available for Fund raising. Currently an introduction is also included on the same. Characteristics of the Real Estate Market in India: With reference to the availability of infrastructure facilities, following cities are currently attracting MNCs/corporate/real estate developers: Tier I cities, Mumbai (Commercial hub), Delhi (Political hub) and Bangalore (Technological hub): Preferred option for many new market entrants Command the highest international profiles and significant proportion of FDI Offer qualified labour pool and the best infrastructure facilities Exhibit development of sub-urban commercial real estate Yield of 9.5 – 10% (Real Estate Sector – The India Story Submitted by Miss Sonia Sahni Asst Manager Corporate and Investment Banking, ABN AMRO Bank, Nariman Point, Mumbai) 2.0 Macro-Economic Factors India: Background of the Economy of India during 2008 and early 2009: Last year 2008 was quiet a setback for the real-estate sector in India after the boom of the previous three years where the property market registered a return of more than 30-40% every year. The sector had faced a down trend where the property prices corrected by over 30%. This was due to the sub-prime crisis in the United States and also the correcting Capital Markets and bankruptcy of the MNC’s and the Banks. This resulted in loss of liquidity and hence a fall in demand. In August 2008 the inflation reached as high as 13% which forced a knee jerk reaction from the RBI (Reserve Bank of India) to cut the cash reserve ratio, the repo and the reverse repo rate which warranted the Banks to lend less and as a result of the further shortage in liquidity the real-estate market took a plunge. However, the economy has recovered by leaps and bounce and which is reflected by the chart below: Sam Mahtani, emerging equities manager at FC, is confident on Indias economic prospects. Over the next 10 years, UBS estimates economic activity in India will increase by around 8.5% a year, a rate comparable with China and beyond the global average. We think that this growth rate could be achievable if Indian policymakers start to undertake structural reforms in the economy. Over the next five years, the government is committing an estimated US$500 billion to road, rail, port and other vitally needed upgrades. If the right legislation is put in place and managed effectively, this could represent the springboard for long-term economic growth rates in excess of Chinas†, he believes. GDP of India: The chart shows that the GDP growth rate of India and China are far ahead than any other country in the world. This shows that the standard of living in the country is high. GDP reflects the total income, the total output and the total expenditure of the country. The economy of the country is the twelfth largest in the world as per the recent market exchange rate and it is ranked number four as per purchasing power parity. It is the 2nd fastest growing economy in the world. The service sector of India contributes more than 50% to the GDP and real-Estate sector is the third largest among it. Mumbai is the sole largest contributor to the national GDP and the economics of Mumbai further supports the fact. The above figure shows the long term growth rate of GDP of India against the Developed counties of the World. Economy of India (mid 2009) and its impact on Real Estate: However the economic condition of the country has improved in the last year. This was a great precedent for the Real-estate sector in India and especially Mumbai. It has always been witnessed during recession that the financial cities of the world take the hardest hit but on the other hand recovery is quickly as well. The inflation rate in India is 0.30% on 1st December 2009. The CRR is 5% and repo rate is 4.75% and reverse repo rate 3.25% which is commendable and which has increased liquidity in the market and as a result of this the property prices have gone up in the country. The stock market has recovered exceedingly well and it had an almost 50% rise than the last year’s index. This has further increased the confidence amongst the analysts and the investors. In Mumbai the property rates have accelerated and it is not far behind the rates which were witnessed during the boom period. Mumbai has seen a constant price in the property prices since mid 2009 due to the strengthe ning of the economy. Source: CBRE report 2009 By 2030 India will need up to 10 million new housing units per year. Rapid population growth, rising incomes, decreasing household sizes and a housing shortage of currently 20 million units will call for extensive residential construction. The financing of owner-occupied housing in particular holds out enormous market potential. (Deutsche Bank Report May 8, 2006). Population in India: India is the 2nd most populated country in the world at present after China. However, as per the numbers projected in a United Nations Report states that the Indian population would be more than the Chinese population by 2050. (Population of India is also set to take over China by 2050 as per the UN report.) 1.0 MUMBAI – OVERVIEW: Mumbai, the capital city of the state of Maharashtra, is the one of the largest metropolis in India. Known as the financial capital of the country, the city contributes almost 5% of India’s GDP. It is a multi-functional city with a vast array of economic opportunities, which has resulted in attracting a large migratory population from all over. The city sports a highly cosmopolitan environment with an intricate urban structure. Mumbai has long been home to several large multinational companies and is invariably the first choice for a new organization entering India. Demographic Pattern: Greater Mumbai accounts for 13% of Maharashtra’s population and 1.2% of India’s population[1]. The rate of growth of population has gone down but has been higher than the growth rate of Maharashtra. Source: Census of India Over 1901-71 period, the population in the island city was steadily increasing and was more than that of the suburbs. However, during the last 3 decades the population growth in the island city has been negligible whereas that in the suburbs is increasing at a rapid rate. Among the suburbs, the western suburbs (ward H, K, P and R) are more densely populated than the Eastern suburbs (ward L, M, N, S and T). The following graph indicates the projected population growth in Greater Mumbai. The above graph further illustrates that the population of Mumbai is set of increase manifoldly, as against the other Metros of the country. 2.0 MUMBAI REAL ESTATE MARKET OVERVIEW: The island city of Mumbai is the commercial capital and economic growth engine of India. Originally composed of seven small islands, land reclamation and infill carried out during the 18th and 19th century integrated these islands into a continuous peninsula (Deshpande and Arunachalam,1981). Beginning as a seaport on the west coast of the Indian peninsula, Mumbai has steadily diversified its economic base to include value-added manufacturing and financial services. The country’s central bank, the Reserve Bank of India and two of India’s largest stock exchanges, the Bombay Stock Exchange and the National Stock Exchange are all located here. Mumbai accounts for one-tenth of factory employment and value-added manufacturing, while the port handles more than one-third of the total value of foreign trade (Deshpande, 1996), making the Brihan Mumbai Municipal Corporation one of the richest, with a budget of more than USD 1.2 billion (Mohan, 2003), exceeding the budget of nine S tates and Union Territories of India. This economic growth is sustained by and in turn, drives the steady influx of migrants from rural and regional centres of the country. Consequently, the Mumbai Metropolitan Region (MMR) is one of the fastest growing regions of India. Its population increased from 7.7 million in 1971 to 18.3 million in 2001 (Census of India, 2001) and is projected to increase to 22.4 million by 2011(MMRDA, 1999). (Journal on HOUSING TENURE FOR THE URBAN POOR: A CASE STUDY OF MUMBAI CITY by Gaurang Desai and Madhura Yadav). Mumbai has gained immense prominence as one of the growing corporate and IT destinations in India. The Mumbai real estate scenario has been reflective of the burgeoning real estate sector of the country. The city has a mature and demand-led market driven by end users. Investors and HNIs have also been actively investing in various pre-leased properties with insurance, banking, IT/ITES, residential and retail sector occupants. Overall, there has been an increase in demand as well as supply and an appreciation in the real estate values across various micro markets in the city. Economy of Mumbai: The per capita income of the city is Rs 66,360 which is three times higher than the national income. It contributes 1/3 rd of the total income tax collection of the country. It contributes nearly 60 % of the total income generated from custom duty of the country. 40 % of India’s foreign trade. Corporate tax collection of the city is Rs 40 billion. 20 % of the total excise duty collection of the country. Mumbai Metropolitan region generates 5 % of the total GDP of the country. The island city of Mumbai is the economic growth engine and commercial capital of India. A combination of in-migration combined with a severe land shortage has resulted in Mumbai having one of the most expensive real estate in the world. As a result the city faces housing crisis with an estimated 60% of its total population living in slums, adopting multiple informal housing tenures. Property Index of Mumbai: Database:This index is based on minimum database size of 20,000 data points every month and the analysis has been drawn over a period starting Jan’09. The prices of properties are obtained across micro-markets through property listings on the website as well as based on nationwide sales force. Index Algorithm:The complex algorithm takes into account the property prices as base and then factors in the demand and supply of residential properties for each of the cities covered by it. Care has been taken to give weight age to cities in line with the size of underlying property market. (Makaan.com) The Real-Estate market of Mumbai can be divided into three types- Commercial Residential Retail Mall 4.1 Commercial Real Estate Market: Mumbai’s commercial market is divided into its traditional business districts and the recently developed business addresses. The Central Business District (CBD) of the city is located in South Mumbai and comprises of: Nariman Point – Often said to be the ‘Manhattan of India’, Nariman Point has traditionally been the most attractive location for international companies, in particular international investment banks, insurance companies and consulting firms. The areas concentrated within a radius of 1.5-2 km around the CBD are termed as the off-CBD locations, which include: Churchgate /Fort/ Fountain – This district has traditionally housed the city’s Business and Government establishments. It also houses numerous National and International Banks. Cuffe Parade – Primarily an up market residential area with a host of high-rise buildings. Some notable commercial buildings like the World Trade Centre and Maker Towers are located here. Ballard Estate – A prime commercial area where the buildings have European Renaissance architecture. The off-CBD business centres of the city have expanded to include a number of areas mostly oriented towards central Mumbai: Lower Parel: This industrial belt of Mumbai is transforming itself into a commercial hub of the city. This area is being developed on what used to be the textile mills. With mill land being freed for commercial, retail and residential development, the Lower Parel area will see massive supply of space. Currently, there are a number of retail, entertainment and advertising companies located in Lower Parel. High Street at Phoenix Mills is the most prominent retail development in this region. Worli-Prabhadevi: The Worli–Prabhadevi area has been a conventional stronghold of number of corporate offices. Besides, there is also the presence of two malls – Crossroads and Atria, in the stretch. The ongoing Bandra-Worli sea link is expected to give a further fillip to this area. The Suburban Business Districts (SBDs) of the city comprise of the following locations: (Image of the Bandra Kurla Complex) The Bandra-Kurla belt: The Bandra-Kurla Complex (BKC), which has been developed as an alternative business district to the CBD, has attracted a number of corporate. ICICI, National Stock Exchange, Wockhardt and ILFS are some of the important corporate located here. The Andheri-Kurla Belt: This area is also an upcoming location of choice for IT/ITES companies, banks, insurance companies, etc. Some of the sought after Grade ‘A’ buildings in this belt are ‘Technopolis’ and ‘Solitaire Corporate Park’ where a number of corporate are relocating. The Malad-Goregaon Belt: The Malad Goregoan belt has become the preferred destination for IT/ITES companies due to the availability of large floor plates at competitive rentals. The superior quality of buildings offered at MindSpace is another motivating factor for technology companies looking for world-class amenities to come here. The Powai Belt: Another suburb, the Powai belt is scoring well on the IT/ITeS front. The pricing in rental terms is similar for Powai and Malad. There will be 600 new shopping centres by 2010. India’s burgeoning middle class will drive up nominal retail sales through 2010 by 10% p.a. At the same time, organised retail is becoming more important. At present organised retail accounts for a mere 3% of the total; by 2010 this share will already have reached 10%. (Deutsche Bank Research 6 may,2006) The Peripheral Business District (PBD) of the city consists of: Navi Mumbai: Navi Mumbai is being developed as a counter magnet to Mumbai, with the basic objective of curbing further congestion in the city. The potential target audience, apart from the existing residents, arises from the 40,000+ IT/ITES industry workforce travelling to Navi Mumbai daily. Consequently, the government has undertaken a number of initiatives to promote further development of IT ITES sector in Maharashtra state. These include formulation of a progressive sector-specific policy, development of IT parks and development of the â€Å"Knowledge Corridor† between Navi Mumbai and Pune. Sector 17 of Vashi and CBD Belapur were developed as the prime commercial areas for Navi Mumbai. A number of corporate have moved to Navi Mumbai, the largest amongst them being Reliance Industries. Millennium Business Park at Mahape and Airoli Knowledge Park at Airoli, developed by MIDC houses several IT/ITES companies like Aptech, CMS computers, Datamatics, Mastek, TCS, Patni etc 4.2 Residential Market Scenario: Residential real estate in Mumbai is today amongst the most expensive in the country. The key residential areas in the city are as follows: The south and central locations of the city like Colaba, Napean Sea Road, Worli, Breach Candy and Pedder Road are the most preferred locations for leased accommodation for the senior and expatriate staff. Amongst the key suburban locations, Bandra and Malad in the northwest and Powai in the northeast are equally preferred due to proximity from the emerging commercial/office locations. Other suburban residential micro-markets of Andheri, Goregaon and Mulund also fall in the preferred category. In fact, these areas are witnessing fresh construction activity with projects from prominent residential developers like K.Raheja, Oberoi Constructions, Royal Palms and the Runwal Group. Luxury housing projects, which have been traditionally concentrated in South and selective Central Mumbai locations, are now being planned in the suburban regions like Malad as well as peripheral districts. Currently, a number of IT/ITES companies have located there. The Central Mumbai belt consists of areas such as Mahalaxmi, Lower Parel, Worli, Parel,Byculla, Chinchpokli, Sewri, Wadala, Dadar, Matunga and Mahim. The micro markets of Worli are currently established markets and command a premium over other central Mumbai pockets. The current ongoing rates in Worli vary between Rs. 25,000-30,000 per sq. ft. Lower Parel is fast emerging as a residential and commercial destination, with additional supplies expected from the mill lands. 4.3 Mumbai Mill Lands: (Image of an old Mill in Mumbai) Bombay had first developed as an industrial city through the growth and expansion of the cotton textile industry from the late nineteenth century to the nineteen forties. Now known as the Mill Lands, the textile industry was located in the central districts of the Island City. After World War II and Independence, to the fifties, sixties and seventies, the industrial base of the urban economy diversified into petroleum and chemical production, and then into petrochemicals, pharmaceuticals, consumer goods and engineering industries. These new industries were mostly located on the eastern fringe of the Island City, in the Eastern suburbs, and in the seventies and eighties expanded to Thane and its surrounding district, as well as the Thane-Belapur belt flanking Navi Mumbai. Till the late seventies, the Cotton Textile Mills were booming with activity but in 1982 things changed. The unorganized Powerloom sector had taken over and it was becoming uneconomical to maintain large-scale industrial units within the city limits on account of high power and Octroi costs. Moreover, the 18-month long crippling strike by the mill workers proved to be the final nail in the coffin. All this led to huge losses and the running of the Cotton Textile Mills became unviable. Several mills were declared sick and a few even shut down their operations. Only a few managed to survive. The total area occupied by all the mills put together is approximately 605 acres (2,446,278.39 sq. mt.) There are three categories of ownership of the mills, namely, National Textile Mills (NTC), Maharashtra State Textile Corporation and Private Owners: 4.4 Mumbai Port Trust Land: The proposed release of Mumbai Port Trust (MbTP) land could change the face of the eastern waterfront in Mumbai. MbPT has about 40 acres of surplus land of which a substantial portion is on the environmentally sensitive eastern waterfront (areas such as Sewri, Wadala). Large tracts of MbPT land had been leased out to private companies, several of whom have shifted their facilities to other areas, but continue to maintain a token presence on the leased land. With the construction of Trans- Harbour Link and the Special Economic Zone at Dronagiri this land is expected to turn out into a virtual goldmine. The MbPT policy for commercial utilization of this land has been awaited for several months since the new board of trustees were not constituted. Now with 17 of the 21 trustees in place, the process of formulating the policy has been set in motion. The subcommittee is expected to unveil a plan of action when MbPT board meets on August 9. Besides the above, there are some Port Trust plot that are being released in the market. These include a 28.39 hectare (approx. 70 acres) plot at Titwala, vacant lands in isolated pockets totalling to 5.17 hectare (approx. 14.5 acres) and a slum-encroached plot measuring 6.77 hectare (approx. 17 acres) on the eastern waterfront. Floor Space Index (FSI): FSI stands for Floor Space Index. Municipalities and Government’s allow only a certain amount of FSI. Otherwise there are possibilities of sky scrapers been constructed in narrow spaces that would be leading to parking and various other problems like the one existing in downtown Manhattan. In Mumbai, FSI was first introduced in 1964 and the value than was 4.5 times. Over the years there were several changes made to the rule which depends broadly on the leading Municipal Corporation and the State Government. With an average of 2.9 m2 per person, the consumption of residential floor space in Mumbai is one of the lowest in the world. More than 50% of the city’s population lives in slums. This type of record would be expected from a city in a desperate economic situation. However, this is not the case. Mumbai is a prosperous city with an expanding economy. (Mumbai FSI conundrum: The perfect storm: the four factors restricting the construction of new floor space in Mumbai – By Alain Bertaud 2004). The very low consumption of floor space coupled with very high real estate prices would suggest that a number of supply bottlenecks might be responsible. By comparing Mumbai to other metropolis in Asia it appears that indeed 4 factors are exceptional and contribute to the very low supply of floor space: An exceptional topography that reduces the amount of developable land; A draconian and ill-conceived land use policy restricting the area of floor space which can be built on the little land available. Muddled property rights preventing households and firms to freely trade land and floor space as a commodity; A failure to develop major primary infrastructure networks, which prevents the city to overcome its topographical constraint. In turn, the weakness of the infrastructure network is used to justify the restrictive land use policy. (Alain Bertaud July 15th 2004). Comparing Mumbai to other similar sized Asian cities, (Bertaud 2004) found that within a radius of 25 km from the city centre, sea and water bodies occupy 66% of the total area for Mumbai while it was 22% in the case of Jakarta and 5% for Seoul. Cities with such extreme topography often compensate for the lack of land by allowing the height of buildings to be increased. In the case of Mumbai however, this is not the case. While the Floor Space Index (FSI) in most large cities varies from 5 to 15 in the Central Business District (CBD) to about 0.5 in the suburbs, in Mumbai the FSI remains uniformly fixed at 1.33 for the Island City and 1.00 in the suburbs (Alain Bertaud, 2004). (The above map shows the different FSI values in the city.) Transfer of Development Rights (TDR): A cartelisation of Mumbais real estate, one of the costliest in the world, in the matter of transferable development rights has put upward pressure on prices and has also caused concern in policy circles. In case of Mumbai, TDRs were used initially to compensate plot owners whose development right was restricted due to some public programmes like widening of roads etc. Later this was used for compensating owners of Heritage buildings who could not develop their lands. More recently they have been used in case of Slum Redevelopments where additional development rights could not be consumed on a plot due to over density reasons. There are also talks about using TDR for redevelopment of old buildings. Another detail about TDR is that it can be only used in the same or northern ward of the generating plot Hence you could see sudden additions to suburban buildings that have high property value.However, it also led to haphazard and unplanned development in the suburbs. There was an increased the pressure on suburban infrastructure. In a recent development, just six-odd builders and developers hold 70 per cent of the 2.5-3 million sq ft TDR available. The price of TDR has also surged to Rs 2,500-Rs 3,000 per sq ft from Rs 800-1,000 sq ft in the past six months. Realty sector experts in Mumbai cartel had meant a rise in TDR prices practically every month. The development is a sequel to a 2008 order of the High Court here, which stayed a state government decision to allow 33 per cent extra building rights (measured as more of Floor Space Index, or FSI, the ratio of what can be erected on a plot of land to its area) in return for more premium. Nainesh Shah, executive director of Everest Developers, argued that TDR rates can be brought down only by an increase in the stock of land and the government are the only entities that can make this happen. More land needs to be released, Ashutosh Limaye, associate director, strategic consulting, Jones Lang LaSalle Meghraj, saidâ€Å"TDR trading follows the open market principle. For areas that are popular and in demand for real estate development (Bandra, Chembur, Vile Parle, etc), land prices is high and it makes sense to buy TDR even at a higher rate†. However, A Vile Parle-based activist and former builder, Bhagwanji Raiyani, filed a Public Interest Litigation in the Bombay High Court asking for a total ban on TDR, following which the court in an interim order banned the use of TDR along the Eastern and Western Express Highways and the Eastern and Western suburban railway tracks. In the recent times, the government is considering a proposal to increase floor space index (FSI) in the suburbs to two without taking the transfer of development rights (TDR) route. Under this, for example, a builder involved a slum project in Trombay gets the nod to transfer development rights to the north of the rehabilitation site. Because of this policy, the suburbs are witnessing the construction of tall towers, which use TDR. There has been a 100% rise in property prices in Mumbai, Thane and other places, primarily because of the high cost of TDR. If a builder buys TDR at Rs 4,500 per sq ft, he will have to add another Rs 4,500 per sq ft towards the cost of land and construction. This forces him to sell flats at Rs 10,000 per sq ft even in a distant suburb like Mulund, which is an absurd rate. No wonder there is tremendous consumer resistance. Around 50% of the flats remain unsold because the prices are beyond an average buyer’s reach,’’ (Subhash Runwal, former office-bearer of the Maharashtra Chamber of Housing Industry, reported in Times Of India). The demand for FSI is 10 crore sq ft per annum in the suburbs. If the government sells this at even Rs 2,500 crore, it can generate a whopping Rs 25,000 crore annually. Half of this revenue can be used for improving infrastructure in the suburbs and the rest for development work in the rest of the state†. The Golden Question: How to design new FSI and TDR values for Mumbai? Design a spatial land use strategy based on current land values and future investments in transport (bridges, highways, metro, BRT). Identify high accessibility nodes. Divide the existing and future built-up areas into land use zones based on accessibility and on existing character of the area; Identify and map the historical areas and natural areas that need to be protected, those that should not be redeveloped, and where the new FSI will not be applied; Design regulations (FSI, % lot coverage, setbacks, etc) for each zone. Comprehensive plan ready and approved for the entire city No more TDRs are issued during preparation of plan, however, already issued but not yet used TDRs are honored. Progressive transition: New FSI plan prepared and approved for 2 or 3 main streets and high intensity areas around new metro stations and bridge access. New TDRs can be issued but they have to be used in the areas already mapped for FSI increase. Meanwhile the comprehensive strategy is prepared and approved. More areas for FSI increase are prepared every year and where TDRs can be used. After 2 or 3 years new TDRs are issued only for slum redevelopment and for historical area protection. The above is just a model example of how the increase in FSI would solve the Real Estate problems in Mumbai. If the Government adopt the path which has been used in downtown Manhattan than it would reduce Real Estate prices in the city, help to relocated millions of people, abolish the TDR practice and the additional space could be used to improve the lagging infrastructure of the city. 4.5 Mumbai Salt Pan Land http://infochangeindia.org/Agenda/Coastal-communities/Saltpan-city.html The proposal to use saltpan lands first emerged in 2002 when the Maharashtra Housing and Area Development Authority (MHADA) warned that it was running out of land and asked the state to release land belonging to various departments like defence, the Bombay Port Trust, and saltpan lands. In 2006, the then Union Minister for Commerce and Industries Kamal Nath and Ex Maharashtra Chief Minister Vilasrao Deshmukh worked out a formula of developing saltpan lands on a no-profit-no-loss basis. The scheme proposed allowing private developers extra FSI for commercial purposes after setting aside 225 sq ft houses to accommodate slum-dwellers. In 2007, a committee of u