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Early Childhood pampered by our parents

This is the time we don't understand the value of money and more often than not, we are also pampered by our parents and relatives.

Education - Key to success

We continue to live on our parents efforts but build a foundation for our career. Education and Graduation dependent on individuals interest and affordability.

We have started earning after graduation!!

Well, we are less dependent on our parents, now that we have started earning. Starting a family and Pampering our children is part of this phase.

Older we are, Wiser we get

We get older, children start schooling.Time to think about loan payments, savings for retirement, we earn, spend on necessities and we save the rest.

Finally the day has arrived and start enjoying retirement

Retirement reduces our needs but not expenses. The extras that we saved supplement the social security and pension and keep us flying till the END!!.

Friday, 25 May 2012

New Apartments in Chennai

There is no guarantee the below info are correct. These have been taken from different sources and not from the builder.

Grand Residency   
Grand Residency, Velachery           Pacifica                         Project Oakwood
3/4 BHK Res Apts & Duplexes           Padur, OMR.                 Price: Rs 4,019/sqft
Price Starting at Rs 7500/sqft             Price Rs 2990/sqft

Imperial Towers      IP Housing (1 BHK)         Hiranandhani Upscale
Call for Price         Kelambakkam, OMR          Egattur, OMR
Possession by       Price Rs 2,595/sqft               Call for Price
Dec 2013 (Approx)                  

Wednesday, 23 May 2012

Another blog on online shopping

I was lazing through some google searches. I hit upon this blog which makes good reading. Click the link The thing that I like in the article is "spending money on a good deal is still spending money. If you are trying to save, the best way to do that is by not spending money, even if you’re getting a deal.". This is my idea too but who will tell this to my wife and children? This is the toughest task.

Sunday, 20 May 2012

How to buy an Apartment

Gone are the days of excess liquidity. These days liquidity is tight and that gives an opportunity for buyers in India to find the right property at the right price. The builders are sitting tight and are not quoting lower prices. There are so many development projects started in 2007 which are yet to be completed. However, if you are a buyer in this market, you have to try and make the right moves.
1. Do not consider projects that are just starting out or started long back but yet to see the roof. You do not want to lock your hard earned money in these type of projects where there is no guarantee that you will get apartment completed and handed over.
2. Understand that when you give the money to the builder, the money can get routed to another project that is in doldrums.
3. Look for properties that are completed or close to completion and are in the process of handover.
4. Be aware the builders quote is going to be high (as always) buy decide what price you are comfortable paying for the property.
5. Completed property is definitely worth little more than a project which is promised to complete in a year or two from now. But some premium is worth it (take it as an insurance).
6. Go to the builder with your rate and do not hesitate to walk out if he is not agreeable. If you are convinced that what you are offering is a reasonable price, make it clear this is what you will pay and leave your contact number with the salesperson so that he can call you if your rate is approved by his manager.
7. You can always approach with a slightly higher offer later on if you feel it is worth (or at another property nearby).
8. Builders also try to squeeze you in many forms like parking space, collecting 2 or 3 years maintenance charges upfront etc. Please be careful and refuse the offer if you are not comfortable.
9. If you do your homework and stick with it, you can find a good property at a reasonable price.Just remember that there are many options are available and if one doesn't work out that's fine.
10. I know too many people who gave lot of money to the builder (in India) few years ago (2007, 2008 etc) and are still to get a roof on their head. You do not want to be in the same situation few years from now, say 2016.

Finally Best of Luck.

Saturday, 19 May 2012


Surveysavvy is another reliable survey site. Important thing to note is that it is free to join. I have received only very few surveys from them (3 or 4) and have completed only one of them. I have earned $15. Though I have not cashed it yet, as per the site, I can cash it anytime. At this point, the only option available to me is ask for a cheque (is that bad by any chance? :) ). If you are interested please feel free to join using the link Join Survey Savvy.

Friday, 18 May 2012

Buying Property

Enough care must be taken while purchasing any property. The decision involves huge sum of money but if the value doubles or triples so does your networth. That way, it has the potential to provide you with a good return on investment.

However we need to watch out for pitfalls. If you are buying land, please ensure that the title is good. If it is forged, then the whole investment is gone. Please ensure that you check with govt authorities like CMDA apart from consulting a good lawyer.

If you are buying a flat, ensure that the builder has the capacity to complete the flat and hand it over to you. If the builder goes bankrupt, you are stuck after paying large sum of money to the builder.

In Chennai itself, there are a number of apartment complexes in OMR which were planned for handover in 2006/2007 but even in 2012 hasn't yet been completed. People who invested money has reasons to worry about the safety of their investments. But you can be more safe if you buy a property that has been almost completed.

Online shopping

There are lot of online shopping websites have come up recently in India. I am surprised if all of them get enough business to survive? While the cost structure enables online shops to work with lesser profit margin, they do have postal charges that traditional brick and motor shops do not have. Some thing blows my mind off. For example, indiaplaza offers free shipping of books. While that is normally expected, I can understand their logic of shipping a Rs 15/- book free. Wouldn't they spend more than Rs 15/- for shipping itself? some sites have minimum purchase amount to qualify for free, which is understandable.

With the increase in online shopping there has been an increase in coupon sites (sites that store discount coupons). Though they may not always be reliable, the offers are posted by users of the site for the benefit of everyone. This is something I would not have imagined 10 years ago.

India has also seen a rise of groupon type sites recently. We need to wait and see, if there are mergers (already flipkart has bought Letsbuy) that will reduce the number of players.

Friday, 4 May 2012

Surveys - Toluna

There are definitely some online opportunities which allow you to earn. One of the options that my friend has tried successfully is toluna. Toluna provides multiple opportunities to earn points.
1. They send survey invites. Answering surveys can earn you points or prize draw tickets
2. There are options for content creation in their sites and earn points
3. You can earn points by answering their sponsored surveys, Quick votes & Quick surveys
4. There are redemption options for the earned points

Please do check it out and decide if you want to join

Apartment Association

In most Apartments complexes a voluntary body (committee) is elected to help manage the affairs of the complex. In larger complexes, the committee hires a manager to take care of day-to-day activities and the committee deals only with issues that are escalated to them.

What is important is the start of the first association. The builder completes the construction and residents move in, in a staggered manner. It takes a while before they get-together and install an interim committee with sole purpose of legally registering the association and calling for elections to elect the office bearers to the association.

Now the first association of the complex has the unenviable task of getting all the details from the builder which we call as the handover process. This can be complicated as there is no real documentation of what would be a complete handover process.I will attempt to list out a few which are important and should be part of the handover checklist.

1. Collect the completion certificate.
2. Get the approved building plan which includes block-wise and floor-wise information.
3. No objection certificate from Pollution, fire, water and electricity authorities.
4. Hard and soft copy of all approved drawings.
5. Registration and Parent documents
6. Asset inventory of all movable and immovable equipment purchased.
7. AMC and Warranty details; Original receipts for equipments.
8. Handover of corpus amounts to association.
9. contract signed with maintenance agency; agreed SLA's.
10. Details of Insurance taken
11. Audited account statement
12. Introduction to key vendors and suppliers.

Tuesday, 1 May 2012

Accounting Module in

The following are the features you can find in the Accounting module of Residents Inc software.

Chart of Accounts – to create any income, expense, asset, liability and equity account heads as needed. Grouping of accounts into sub categories such as Current Asset, Current Liabilities, Income from non residents, etc will provide more clarity.

Opening Balances – to enter opening balances for all accounts as on the date of migration to the BOOKS feature.

General Journal – to record all non cash transactions and any transaction that cannot be entered through the Income tracker and Expense Tracker. Eg: Depreciation on assets, refunds received, writing off bad debts, etc.

Trail Balance – Since all accounting transactions can now be entered (and posted using Double Entry Method) and opening balances are captured, creating a Trail Balance is as simple as clicking a button!

You can also generate Profit & Loss statement and Balance Sheet. 

The entire feature is so intuitive and simple, that accounts can be maintained without any prior accounting knowledge….:-)

To see all the features, Register and log into Residents Inc for a free trial today.