So far our children worked in IT sector in metropolitan cities and we moved there with them. So as the IT sector developed, skyscraper residences mushroomed in OMR, ECR, Coimbade, Uragadam in Madras.
But now we have to realise that, apart from necessary cases, our children made the big mistake of purchasing flats for Rs.50 lakhs to 1.25 crores by bank loans. They dreamed "going by costly cars, admitting their children in international schools, frequent foreign trips, best medical treatment, luxurious life etc...."
But the whole thing changed upside down from last March-end and city migrated people's lives are slowly becoming miserable. We never thought, coming from Madras to our native place would be so difficult. It is worrisome to note that Madras residents are not welcome in the remaining parts of Tamilnadu.
Cities are not attractive anymore. Starting from "google", "facebook" to TCS etc have switched over to "work from home" concept and 75% staff are instructed to work from home.
Major immediate impact is IT giants have started to vacate costly rented buildings at Siruseri, Solinganallur, OMR, Porur DLF and Mahendra city IT parks.. They have planned to open "Supervising hubs" (controlling offices) in small buildings in Coimbatore, Tiruchi and Madurai. 75 to 90% staff are going to work from their own native places. So imagine the fate of skyscrapers in Madras! They will get no resale/rent value by 2021.
The next major change being made silently by NASSCOM (With over 2,800 IT and related company members in India) have approached the central/state governments to :-
(a) Amend or abolish major (75%) of Labour laws to suit IT sector "work from home". The central government has given consent in the last week of May 2020 itself and has advised NASSCOM to give the blueprint of amendments in Labour laws.
(b) Amend Income Tax Act to include expenses by employer/employee incurred at home,
amendment to cover insurance for working from home.
So it's a matter of time before Acts/Laws are amended. So "Work from home" has come to stay. So no more necessity for IT people to stay in the Metropolitan cities.
Next major impact is gradual disappearance of dependent industries of IT sector. Service industries like high/medium class hotels/motels/spas, major entertainment malls, rental buildings, call taxis, auto service. For example, about 10,000 call taxis and 25,000 share autos are plying, in Madras, to carry IT people daily from one place to the other. My friend, from Australia, who established Australian restaurants called "Australian Pie" at IT campuses of Navallur and DLF with investment of about 1.5 crores have not been earning a single rupee since March end. In each centre, about 50 international restaurants like Mackdonnel, Paprika etc have been kept closed for months which may not reopen for ever!
Next shock comes at the social level. "Foreign Bridegrooms" are not attractive anymore. When world "job recession" shows out in full scale, job of those employed abroad will face uncertainty and may, even, lose jobs.
As such,
(a) Advanced medical facilities are available all over Tamilnadu.
(b) Online classes are coming to our children.
(c) And the emerging "work from home" concept.....
it is high time to rethink whether it is necessary to settle in cities except for those who have unavoidable reasons.
Source. Adapted.
Tailpiece.
Got up at our usual time, the chores and was ready by a half past 9. It was a quiet day, attending webinars in connection with the Reading month activities and answering the telephone. Spoke to Charlie Mike after a long time; he sounded quite under the weather. Must speak to him again, tomorrow.
PS.
Can't get myself to call Madras, Chennai!
But now we have to realise that, apart from necessary cases, our children made the big mistake of purchasing flats for Rs.50 lakhs to 1.25 crores by bank loans. They dreamed "going by costly cars, admitting their children in international schools, frequent foreign trips, best medical treatment, luxurious life etc...."
But the whole thing changed upside down from last March-end and city migrated people's lives are slowly becoming miserable. We never thought, coming from Madras to our native place would be so difficult. It is worrisome to note that Madras residents are not welcome in the remaining parts of Tamilnadu.
Cities are not attractive anymore. Starting from "google", "facebook" to TCS etc have switched over to "work from home" concept and 75% staff are instructed to work from home.
Major immediate impact is IT giants have started to vacate costly rented buildings at Siruseri, Solinganallur, OMR, Porur DLF and Mahendra city IT parks.. They have planned to open "Supervising hubs" (controlling offices) in small buildings in Coimbatore, Tiruchi and Madurai. 75 to 90% staff are going to work from their own native places. So imagine the fate of skyscrapers in Madras! They will get no resale/rent value by 2021.
The next major change being made silently by NASSCOM (With over 2,800 IT and related company members in India) have approached the central/state governments to :-
(a) Amend or abolish major (75%) of Labour laws to suit IT sector "work from home". The central government has given consent in the last week of May 2020 itself and has advised NASSCOM to give the blueprint of amendments in Labour laws.
(b) Amend Income Tax Act to include expenses by employer/employee incurred at home,
amendment to cover insurance for working from home.
So it's a matter of time before Acts/Laws are amended. So "Work from home" has come to stay. So no more necessity for IT people to stay in the Metropolitan cities.
Next major impact is gradual disappearance of dependent industries of IT sector. Service industries like high/medium class hotels/motels/spas, major entertainment malls, rental buildings, call taxis, auto service. For example, about 10,000 call taxis and 25,000 share autos are plying, in Madras, to carry IT people daily from one place to the other. My friend, from Australia, who established Australian restaurants called "Australian Pie" at IT campuses of Navallur and DLF with investment of about 1.5 crores have not been earning a single rupee since March end. In each centre, about 50 international restaurants like Mackdonnel, Paprika etc have been kept closed for months which may not reopen for ever!
Next shock comes at the social level. "Foreign Bridegrooms" are not attractive anymore. When world "job recession" shows out in full scale, job of those employed abroad will face uncertainty and may, even, lose jobs.
As such,
(a) Advanced medical facilities are available all over Tamilnadu.
(b) Online classes are coming to our children.
(c) And the emerging "work from home" concept.....
it is high time to rethink whether it is necessary to settle in cities except for those who have unavoidable reasons.
Source. Adapted.
Tailpiece.
Got up at our usual time, the chores and was ready by a half past 9. It was a quiet day, attending webinars in connection with the Reading month activities and answering the telephone. Spoke to Charlie Mike after a long time; he sounded quite under the weather. Must speak to him again, tomorrow.
PS.
Can't get myself to call Madras, Chennai!
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