Priority Pages JULY - SEPTEMBER 2012 VOLUME 42
GET THAT PERFECT HOME
Dear Priority Customer, You surely must be aware of what goes into making a crucial decision, something which is done on umpteen occasions in life. While many decisions and choices are easier to make, a few require us to think harder and even seek opinions from others to arrive at the right option. One of the crucial decisions that generally falls in the latter category is choosing property for a new home. Home buying nowadays has been made complex, thanks to the myriad intricacies involved in the process as well as the vast number of alternatives available in the real-estate market. That’s where this issue’s Cover Story comes to a home hunter’s rescue — it comprises tips, pointers, and guidelines to help you bag your dream home in a smooth, methodical way. Further, in the ‘Do More’ section, while ‘Travel’ will take you to a never-before-seen side of the Big Apple, the ‘Food’ story will show you how the invigorating climate of our tea state, Assam, and its rich, meaningful traditions have had a delicious effect on its gastronomy. July, August, and September are the months when the monsoon is in full swing in our country. Do read our ‘Environment’ piece on rainwater harvesting in the ‘Be More’ section and know how you can build up abundant supplies of water this season. In our ‘Achieve More’ section, you will learn about a sporting legend who brought an envious number of laurels for our motherland. Hockey master Dhyan Chand has been honoured in so many different ways — including a four-armed statue and a tube station — all due to his indomitable spirit, especially on the hockey field. We hope you have a wonderful time reading this issue of Priority Pages.
Priority Pages Editorial Team
Chief Editors
A. K. Gupta Shilpa Singh
Executive Editor and Publisher
Maneck Davar Editorial
Aaron Rodrigues Priyanka Agarwal Art Director
Minaal G. Pednekar Senior Designer
Namrata D. Shelar Graphic Designer
Prachi Kulkarni Sunil Kadam Digital Imaging
Ninad Jadhav Disclaimer: The views and opinions expressed or implied in the magazine are those of the authors and do not necessarily reflect those of the directors, employees or any other individual directly connected with the company and its group of companies. The transparencies that are sent in are at the owner’s risk and the publisher accepts no liability for loss or damage. Material in this publication may not be reproduced, whether in part or whole, without the written consent of both, Axis Bank and Spenta Multimedia. The in-house ‘Priority Pages’ is a quarterly magazine of ‘Axis Bank’ Corporate office: Axis House, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai 400 025 and published and printed by Spenta Multimedia at Peninsula Spenta, Mathuradas Mill Compound, N. M. Joshi Marg, Lower Parel, Mumbai 400 013. Tel: +91-22-24811010; Website: www.spentamultimedia.com.
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CONTENTS VOLUME 42 | July – September 2012
DO MORE moneyTALK
06 6
Systematic Investment Plans (SIP)
coverSTORY
10
Get That Perfect Home
travel
14
A New Spin to New York
food
16
An Assamese Feast
BE MORE environment
18
Water, Water, Everywhere...
ACHIEVE MORE profile
20
Dhyan Chand
16
18
10 14
20
domore MONEY TALK
SYSTEMATIC INVESTMENT PLANS (SIP) By Axis Bank Investment Advisory Group
fixed sums are invested at regular intervals, an investor buys more number of units when the markets are down and the NAV is low, and less number of units when the markets are up and the NAV is high. Thus, SIPs provide an opportunity to lower the average purchase cost of units, and help investors gain when the markets recover in due course. Power of compounding returns: SIPs provide investors the advantage of compounding. The longer the period of the investment, the more wealth is accumulated. Compounding essentially means that the money made from an investment can be reinvested to make even more money than the initial investment. No need to time the market: SIPs benefit investors as they do not need to identify the time to enter and exit the market due to the disciplined investing nature inherent to SIPs. In the long run, market timing becomes immaterial as the market sees ups and downs during this period, and helps average out the value of investments. Thus, an investor need not time the market actively. Prevents sentiment-based investing: The ideal way to profit from volatility in the market is to predict the turning points correctly and make the appropriate investment
A systematic investment plan is a mode of investment offered by mutual funds in which investors invest a fixed sum at regular intervals to buy units of mutual fund schemes on a given date every month/quarter. An SIP is similar to a recurring deposit with banks or a post office, facilitating savings on a regular basis.
OBJECTIVE Systematic investment plans aim to help investors achieve their financial goals and accumulate wealth over a period of time and simultaneously facilitate savings on a regular basis. SIPs aim to benefit investors through rupee cost averaging in volatile markets.
BENEFITS OF SIPs Disciplined investing: SIPs inculcate a saving habit, as investors are committed to invest a fixed sum regularly. Disciplined investing enables investors to achieve their financial goals over a period of time. SIPs help such investors prepare for planned and unplanned expenses. Rupee cost averaging: SIPs enable investors to reap the benefits of rupee cost averaging. They can also help investors benefit from the volatility in the markets. Since prioritypages
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domore MONEY TALK decision, i.e. to buy at the bottom and sell at peaks. Timing the markets to perfection and doing so consistently is not possible. An SIP facilitates investments based on the fundamentals and takes the sentiment out. It allows investors to participate in the market at all levels. Thus, an investor does not miss out on an opportunity to buy at low levels due to sentiment-based investing. Easy on the pocket: SIPs encourage small investors too: An investment in an SIP can be for as low as R100; however, this amount will vary from one fund house to another. Consequently, this does not put financial pressure on small investors’ pockets. Usually, investors feel that it will not be lucrative to invest small amounts, and therefore, they either try to accumulate a significant amount to invest or they do not invest. On the contrary, through SIPs, investors, especially those who have large monthly cash outflows, can nonetheless start investing small sums and reap the benefits over a period of time. Investments need not be postponed in order to make that one big lump sum investment. Offers convenience: SIPs serve as a hassle-free and convenient mode of investment since investors can issue standing instructions for the regular transfers of money, or through post-dated cheques.
as they would not help reduce the average purchase cost. However, this phenomenon is not usual.
SUITABILITY SIPs are suitable for investors who are willing to commit a fixed sum at a regular frequency and do not have a lump sum amount to invest in mutual funds. It is also suitable for investors who do not wish to be stressed by market volatility and are unable to time the market.
KEY ASPECTS TO DWELL ON It is better to invest a small amount of money regularly through SIPs, rather than keep money in a savings account with the intention to accumulate a substantial amount in order to make one large investment. SIPs also reduce the chances of negative returns. The longer the investment horizon, the better the chances of earning positive returns. In other words, when compared with lump sum investments, SIPs are better placed to give enhanced returns to investors over the long term. One-time investment is better only when there is a high degree of certainty that the market is going to go through a rising trend. Moreover, all investors do not have large sums available at their disposal for investment at one go. Early and regular investment over a long time horizon is a steadier approach than other comparable modes of investing which earn investors a ‘fixed’ rate of return.
CAVEATS FOR SIPs SIPs are not suitable for investors with unpredictable cash flows since they cannot commit a fixed sum every month/ quarter. In case the market moves in one direction, a lump sum investment would be beneficial as compared to SIPs,
Example: As seen in Table 1, we highlight the performance of SIPs in large-cap, mid-cap, and diversified funds, considering the investor invests R10,000 at the beginning of every month over the last ten, seven, five, and three years.
Table 1 Total Amount Invested
3 Years
5 Years
7 Years
10 Years
3,60,000
6,00,000
8,40,000
12,00,000
Scheme Name
Value
HDFC Top 200 (G)
3,81,118
CAGR (%) 3.94
7,85,627
Value
CAGR (%) 11.06
13,56,370
Value
CAGR (%) 13.74
41,27,318
Value
CAGR (%) 23.66
Franklin India Bluechip (G)
3,84,570
4.58
7,62,763
9.84
12,70,705
11.88
34,95,629
20.55
HDFC Equity (G)
3,85,443
4.73
8,09,594
12.31
13,69,079
14.01
41,22,221
23.64
DSPBR Top 100 Equity-Reg (G)
3,87,780
5.16
7,57,034
9.53
13,22,194
13.01
0
0.00
ICICI Pru Dynamic (G)
3,93,306
6.15
7,78,313
10.68
13,18,294
12.93
0
0.00
ICICI Pru Discovery (G)
4,19,272
10.72
9,27,002
17.98
14,67,882
16.00
0
0.00
Benchmark BSE SENSEX
3,59,820
-0.03
6,69,658
4.48
10,75,627
7.11
25,52,106
14.64
BSE-100
3,59,238
-0.15
6,72,910
4.68
10,82,522
7.29
25,93,257
14.94
BSE-200
3,58,049
-0.37
6,73,947
4.74
10,76,821
7.14
25,36,543
14.53
CNX Midcap
3,64,961
0.94
7,15,493
7.20
11,42,369
8.83
29,45,759
17.34
S&P CNX 500
3,56,606
-0.65
6,68,395
4.40
10,53,920
6.53
24,94,893
14.21
S&P CNX Nifty
3,63,572
0.68
6,76,179
4.88
10,88,842
7.46
24,92,805
14.20
*Value and Return are as on 30 April, 2012. The CAGR is computed based on IRR since the SIP instalments are received at different intervals across the SIP period. XIRR calculates internal rate of return for a series of cash flows. SIP investment returns table assumes an investment of R10,000/- per month. Past performance may or may not be sustained in future and should not be used as a basis for comparison with other investments. Source: ACEMF
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domore MONEY TALK Table 3 will help understand how a little investment every month can help go a long way.
SIPs should not be stopped in a falling market. In fact, the primary source of SIP returns comes from investments made in falling markets. Since investors buy units at a lower NAV during the time the markets fall, they get a higher number of units. Once markets begin their northward journey, these units purchased at a low NAV are what help perk up returns. With SIPs, as already mentioned earlier, the investment is staggered. An illustration will help understand this statement better.
Table 3 Monthly Savings Savings per month (R) (For 15 years)
8.00%
Mr. A Amount
NAV
10.00 12,000.00 1,200.00
Jan-06
10.00
1,000
100.00
Feb-06
9.65
1,000
103.63
Mar-06
8.64
1,000
115.74
Apr-06
8.05
1,000
124.22
May-06
9.30
1,000
107.53
Jun-06
9.85
1,000
101.52
Jul-06
10.06
1,000
99.40
Aug-06
9.55
1,000
104.71
Amount
15.00%
5,000
9,00,000
17,30,000
20,72,000
24,97,000
33,43,000
4,000
7,20,000
13,84,000
16,57,000
19,98,000
26,74,000
3,000
5,40,000
10,38,000
12,43,000
14,98,000
20,05,000
2,000
3,60,000
6,92,000
8,29,000
9,99,000
13,37,000
1,000
1,80,000
3,46,000
4,14,000
4,99,000
6,68,000
Starting early gives the power of compounding more time to act on the investment, thereby generating higher returns.
Mr. B Units
12.00%
* Monthly instalments, compounded monthly for a 15-year period.
Table 2 NAV
10.00%
(R, 15 years later)
Example: Mr. A invests R1,000 every month in an equity mutual fund scheme starting in January. Mr. B invests R12,000 in one lump sum in the same scheme. Table 2 illustrates how their respective investments would have accumulated over the said time period:
Month
Total amount invested (R)
Units
Example: An individual who starts planning for his retirement at 25 years of age by investing R1,000 per month @ 10% per annum collects upto R37,96,638 on retirement (when he is 60 years old) and his investment over the period is R4,20,000. On the other hand, if the same individual delays his retirement planning by five years, his wealth upon retirement reduces significantly (by approx. R15 lakh). Graph 1 illustrates the same.
Sep-06
9.00
1,000
111.11
Oct-06
9.45
1,000
105.82
Nov-06
10.11
1,000
98.91
Dec-06
10.20
1,000
98.04
40,00,000
12,000
1,270.6
35,00,000
Graph 1
*Assumed NAVs in a volatile market A’s average unit price = 12,000/1,270.6 = R9.44 B’s average unit price = 12,000/1,200 = R10
37,96,638 Investment Wealth on retirement
30,00,000 25,00,000
22,60,488
20,00,000
At the end of 12 months, Mr. A has more units than Mr. B, even though they invested the same amount. This is because the average cost of A’s units is much lower than that of B. Mr. B made only one lump sum investment when the per-unit price was high.
15,00,000 10,00,000 5,00,000
13,26,833 7,59,369 4,20,000 3,30,000 2,40,000 3,00,000
0
SIPs help investors reach their long-term financial goals. By investing a fixed amount every month, one can plan for and meet financial goals such as funds for a child’s education, a marriage in the family, owning a house, a family vacation, or retirement planning. As little drops of water can make a mighty ocean, by starting early and investing fixed amounts regularly, an investor can accumulate wealth over a period of time to achieve his financial goals.
prioritypages
25 yrs 30 yrs
35 yrs
40 yrs
SIPs have become very popular with investors, as it is a simple and effective solution towards achieving one’s financial goals. It helps investors (including those with a low disposable income) to reap the benefits of rupee cost averaging and compounded returns. In addition, it also enables saving in a disciplined manner without having to actively time the market. Q
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domore COVERSTORY
GET THAT
PERFECT HOME The T he R RBI BI m may ay hhave ave ddropped ropped rrepo epo rrates ates byy 0.5 0.50 50 bbasis asis points, ca causing ausing ffinancial inan ncial m markets arkets ttoo ccheer, heer, but the average home buyer still has to use tact while finding the ideal home. By Arthur Candillac
veryone grumbles about the rising costs of real estate in Indian cities. It’s become a national pastime of sorts, like cricket or politics. So often, we get to hear talk like “The houses are so expensive here” or “Try for a flat somewhere outside the city; it will come cheaper.”
E
It’s a fact that finding an apartment in the city can be intimidating and troublesome
and can make you extremely anxious. Cities such as Mumbai and Delhi have seen real-estate prices go up exponentially, even with the increasing demand. Many urban centres have people looking for apartments but not many are able to shed the extra moolah. The developer, however, knows that for every ‘No’, there is a ‘Yes’ somewhere. The Ministry of Housing and Urban prioritypages
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Poverty Alleviation has estimated a shortfall of 47.43 million houses in rural areas and 26.53 million in urban areas, taking into consideration an increase in the demand for property. Inflated property prices and high homeloan rates have made consumers shy away, resulting in a recent slowdown in home sales across the country. Developers can’t be blamed, with many
july-september 2012
domore COVERSTORY of them still dealing with problems, including restricted access to necessary finance and high input costs caused by continued increases in interest rates. The good news in all of this has been the Reserve Bank of India’s ((RBI) decision to drop the repo rate by 0.50 basis points from 8.5% to b 8%, which has led many banks to 8 rreduce their interest rates on home and car loans. This drop, which has a ttaken nearly three years to come after 13 rate hikes between March 2010 and October 2011, is by no means any indication that the RBI may not increase the rate yet again owing to current economic constraints. The simple truth is that planning to invest in a home is one of the most crucial and critical decisions you will ever make. In fact, besides being the singlelargest investment to come out of your
Check out the place and see how comfortable you personally are. Don’t rely on anyone else saying so. pocket, it will also be a very important asset with a deep emotional quotient in the years to come. So, if you are ready to pay for that ideal home, here are some guidelines to keep in mind.
HUNTING FOR WHAT YOU WANT Finding a house is not easy. Selecting the best one for your needs is certainly tougher. So, it’s very important to decide what you want. Take a few minutes and ask yourself these questions: • What is your budget?
• What facilities do you find important? Do you need a doorman or a fitness centre? • Does your building allow pets? After these preliminary questions, decide what your immediate needs are. For instance, if you want a flat near a school, then this becomes an instant priority. Also, keep in mind a set of alternatives. For example, not all buildings allow their tenants to park their cars inside the premises, so see if you are agreeable to parking outside. Now, with these basics taken care of, find out how much all your various ‘wants’ will cost you. Buying an apartment in cities is expensive, and some of the amenities you think may be good for you need to be questioned further. Do you really need to pay a lot for a swimming pool or a gym when
• Do you need a big house?
• Buying your dream home is great, but you also need to secure it with home insurance. Home insurance comes cheap in India, owing to its low penetration in the market. It gives you overall protection for your property, with coverage options for theft, burglary and larceny. • You can also opt for reverse mortgage if you are in your golden years. A senior citizen who does not have a stable source of income can get his/her property mortgaged with a bank or a housing finance company, which then pays him/her a monthly or quarterly stipend on a regular basis. The senior citizen also gets to stay in that house for the rest of his/her life.
• How many rooms do you need? • How important is the location? Are the building and neighbourhood offered to you safe? • Do you consider aspects such as great views, a complete kitchen, or in-built shelves important? • Is it important that your new home be close to a school? • Do you need car-parking space or a building where visitors can park their cars easily?
• You also have the option of giving your house or property on lease. It’s a better idea than locking up a house and letting it decay.
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© Cammeraydave | Dreamstime.com
Preserve and Make Money out of Your Home
domore COVERSTORY Your developer must have a plan document showing the layout of the project and flat, as approved by the municipal corporation or an equivalent body. there may be a sports club somewhere close by? Also, convenient transport, nearby schools, even easily accessible markets can increase the cost of buying a house.
HOW TO FIND OUT WHAT YOU WANT Now that you have listed all your criteria, for the perfect home, it’s time to shop. The best way of getting to know about flats is through a broker. Another option is your local newspapers. Also, use the internet for browsing househunting websites. Let your family and friends know that you are in search of one. But even as you do all this, finally trust only your own judgement. Check out the place and see how comfortable you personally are. Don’t rely on anyone else saying so. When deciding to purchase a property that is still under construction, it is crucial that you carry out a thorough check of the builder’s track record on project completion and quality of work. When you find a home that seems to be what you’re looking for, probe further. If the answers given to you are not what you want to hear, or you sense that your broker or landlord isn’t telling you the truth, move ahead to other reliable options.
THE JARGON Here are some terms which you need to be acquainted with. Stamp Duty: When you buy a property (house or land), you need to pay stamp duty. This is a certain percentage of the actual cost of the house, as levied by the state government, and can vary from state to state.
Registration of Agreement: Under the Indian Registration Act, any immovable property has to be registered at the time of purchase and transactions related to the property should be registered with the subregistrar of assurances. Floor Space Index (FSI): The ratio of a building’s total floor area to the size of the land on which the building stands. Carpet Area: The area within the flat where you can lay a carpet, or the usable area. Super Built-up Area: This includes your open spaces, lift, stairways, etc. Built-up Area: The space covered by the thickness of the inner and outer walls of a flat, over and above the carpet area. Covered Area: The area under the roof. Not commonly used. Property Title: The legal owner of the property as per registration records, serving as evidence of ownership. Approved Plans: Your developer must have a plan document showing the layout of the project and flat, as approved by the municipal corporation or an equivalent body. No Objection Certificate (NOC): Before any construction, the builder must have an NOC from the municipal corporation to show that the completed project is as per the approved plan. Allotment Letter: When everything is signed, sealed, and delivered, an allotment letter is issued, which contains price details, date of delivery, construction schedule, house plans, and the developer’s liability if they miss the completion date. Possession Letter: When the building or house is completed, you receive a possession letter from the developer. Sale Deed: It provides the buyer with absolute ownership of the property, thus completing the transfer from the seller to the buyer. prioritypages
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THE PAYMENTS For a long time, buying a home was a difficult decision, as it led to a huge cash outlay. But the current market has a lot of home-loan plans available. Some of them are as follows. Construction-linked Plan: Here, you pay the builder through preset instalments in tandem with the project development, thus allowing you time to pay. Therefore, the buyer saves on the interest generated by not paying too early and restricts the builder from charging too much in the beginning. Time-linked Plan: Here, the buyer is given the option of paying through instalments within a preset time frame, irrespective of project development. This arrangement allows the buyer to plan out his expenditure effectively, without any hidden shocks. Down Payment Plan: A traditional way of repaying a loan, the down payment plan involves the buyer paying up to 20% of the total loan value upfront. Based on what you find most comfortable, you can pay the amount you want to, and so there are commensurate discounts. Q
Know Your Rights • To protect home buyers from undue harassment, the government is currently debating the Real Estate (Regulation and Development) Bill. Among its provisions is a proposal to set up a Real Estate Appellate Tribunal that will resolve property disputes in a transparent and timely manner. • In case a consumer wishes to report a lopsided deal or any perceived unfair practice carried out by a large real-estate developer, they have the option of appealing to the Competition Commission of India (CCI). The CCI is the statutory body mandated to take action against dominant firms misusing their market position.
july-september 2012
A NEW SPIN TO
NEW YORK
You’ve gone up the Empire State and down the Hudson, strolled through Central Park and sprinted on the Brooklyn Bridge. It’s time you gave your NYC vacation a fresh twist!
Times Square, Manhattan he Dutch arrived and called it New Amsterdam. The British hollered ‘Land Ahoy!’ and renamed it New York. With so much uniqueness associated with just one city, there is little reason why your adventures here should be the same. It’s time you tried these unusual experiences that will make your NYC sojourn a lot less ordinary!
T
WE WILL, WE WILL WALK YOU To give your holiday that exceptional twist, why not opt for some trivia? Befriend a bona fide New Yorker and see the city the best way it should be seen — by walking. There are many services in the city that take you to hideouts and
Yankee Stadium
holes-in-the-wall you never knew existed... for free! Alternatively, most attractions across all the five boroughs offer walking tours that suit all tastes, budgets, and traipsing capabilities. Sports fans can take a tour of the Yankee Stadium in the Bronx and pay homage to the celebrated New York Yankees. Foodies can exercise their legs and palates on a food tour while binging on the best pizzas and cheesecakes the city has to offer. Even shopaholics get their very own tour, which allows for bargain-hopping across NYC’s shopping districts.
BOMB, TAG AND BURN The words above refer to graffiti — an prioritypages
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© David Leindecker |
Dreamstime.com
© Bayda127 | Dreams
time.com
By Leena Desai
underground movement that gradually rose as an art form, with NYC as its alma mater. Walk through the streets of NYC and you’ll see graffiti that is thoughtprovoking, beautiful, and incisive. Many advertisers have started using graffiti in their marketing campaigns, and several graffiti artists exhibit their works in art galleries across the city. We recommend you get up close and personal with this slice of New York history by taking a graffiti tour that will have you inspecting the works of graffiti legends such as Banksy, ROA, and Shepard Fairey (who created the ‘Yes We Can’ Barack Obama poster). What’s more, you also learn how to make graffiti, including eye-popping murals.
july-september 2012
© Ian Whitworth | Dreamstime.com
domore TRAVEL
BLISSFUL SUSPENSION We’re sure you may have tried skydiving, but how about trying something different that gives you a similar sensation of flying in the air? Feel your face being caressed by the breeze as you let go of the bar while learning the art of trapeze. The popularity of this form of acrobatics is making everyone shed their inhibitions and conquer their fears. There are trapeze classes conducted in New York for beginners and pros, and the fun part is that the sessions are done both indoors and outdoors. Besides the flying trapeze, students can also learn how to master the silks, trampoline, and Spanish web, among others. Whether you do this as
Museum ge courtesy Tenement
Trapeze
... get up close and personal with this slice of New York history by taking a graffiti tour that will have you inspecting the works of graffiti legends such as Banksy, ROA, and Shepard Fairey. a challenge or to stay fit, one thing’s for sure — you will have a lot of fun getting a swinging new perspective of New York!
NO ORDINARY NOSHING After walking, spray-painting, museumhopping, and stretching, you may want to indulge in some great food. Why not make that offbeat too? We are all aware that NYC is a melting pot of various cultures and hence their cuisines. However, there are loads of food and dining experiences here that are totally out-of-the-box! So, what do you do if you want to try Japanese food with a twist? In that case, you can take your pick from those restaurants in New York that offer you an uber-atmospheric dining experience, where you can sense the essence of ancient Japan in not just the menu but also the décor. Who knows, you may stumble across a nihonto-flashing ninja while you’re busy relishing your miso soup, tempura, and sashimi! The city also promises some otherwise unimaginable dining scenarios, such prioritypages
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to by Keiko Niwa, Ima
While the Metropolitan Museum of Art, American Museum of National History, and the Guggenheim draw in most crowds, look beyond them and discover places that are redefining the conventional idea of a museum. The Lower East Side Tenement Museum recreates the living conditions of immigrants who came to New York in the 1800s by the thousands. Docents wearing period costumes pretend to be those immigrants and show visitors around, making this an immersive experience. For some futuristic fun, visit the Sony Wonder Technology Lab — a technology and entertainment museum where visitors interact with robots, play with shadows, and actually enjoy learning about the history of communication spanning 150 years. Then, at the South Street Seaport Museum, board any of their historic full-rigged sailing ships and imagine how explorers and expeditioners would have felt while heading for uncharted territories and having to deal with the likes of Captain Jack Sparrow and Long John Silver.
The Lower East Side Ten ement Museum as a four-course meal coupled with special performances — all while you are blindfolded — and a taste of Broadway (without spending on a ticket) when the staff serenades you with ditties while you hog some dainties. Q
Travellers’ Notepad Getting there: There are daily flights (direct as well as with stopovers) from major Indian cities to JFK International Airport in New York City and the Newark International Airport in New Jersey. Climate: Visiting New York City at any time of the year is a lot of fun, because there’s always something happening in the city. January is one of the coldest months, with temperatures dipping to even -10°C. The weather in spring and autumn can be unpredictable. Temperatures can reach 15°C but can sometimes be as low as 5°C. Summers are warm, with temperatures usually ranging from 24°C to 32°C. Winters are very cold, with snowfall measuring as much as 10 inches.
july-september 2012
Museum Visitors, Pho
80 MUSEUMS, ONE CITY
Image courtesy Photo by Jason Klein,
Apart from these, you can get a diploma in graffiti art and boast about it to your folks back home! Either way, this is a sure-fire way of leaving your impression on New York City — quite literally!
Trapeze School New York
domore TRAVEL
domore FOOD The tea state’s culinary identity is a rich blend of tradition and technique, and so you are sure to come across uniquely scrumptious dishes that will indulge your senses. By Manali Das Photographs by Sanjay Ramachandran
An
ASSAMESE Feast ry asking anyone who has been away from home for quite some time (and that would include me) about the one thing they miss the most, and the perpetual answer would be homecooked food. Admit it, it’s true. Food in an Assamese household, like in most other parts of the country, is going that extra mile for getting absolute indulgence. Assamese food is all about celebrating life, the culture surrounding it, and the joys of abundant love.
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CELEBRATING LIFE Bhogali Bihu or Magh Bihu, the harvest festival of Assam, is all about food, food, and more food. And for all those food aficionados, the time to visit the rich, green plains and thick forests of Assam is during these festivities, giving you a taste of the local flavour.
For most of us, Bihu is a time to visit our grandparents’ house; in my case, I travel to Tezpur, a small city in Assam, to be served a typical Assamese jalpan or breakfast. A Bihu jalpan, which is quite common in the villages that are still untouched by the brigade of fastfood shops, would essentially comprise Pitha (rice pancake with sesame seeds/ ground coconut filling), Tilor Ladu (ladoos with sesame seeds), Narikal Ladu (ladoos made with coconut), Cheera (flattened rice mixed with cream or yogurt and jaggery), and, of course, the quintessential Saah (tea). As an Assamese, I can boldly state, we are a bunch of rice eaters. No matter which part of the world we are in, we always find a way that leads to the good old cereal grain. Such is our love for rice that we actually have certain varieties prioritypages
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Such is our love for rice that we actually have certain varieties (such as Kumol Saul or Bora Saul) reserved for snacks. (such as Kumol Saul or Bora Saul) reserved for snacks. These varieties of rice are slightly sticky and are usually had with milk. Xandoh is rice that is roasted and ground, while akhoi is puffed rice, both of which are served with milk as snacks and are the perfect option for all the weight watchers and fitness freaks.
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domore FOOD FOODIES’ PARADISE Ours is an elaborate meal — rice, daal, vegetables (fresh, dried, or fermented), and at least one non-vegetarian dish (fish/ chicken/mutton). A purely vegetarian meal would entail making nearly three or four different varieties of vegetables. My mother once told me, “Anything will taste good with a lot of spices thrown in for taste and flavour, but the true mark of a good cook lies in making a dish delectable with the use of less spices.” A lesson that I still abide by! The Assamese way of preparing fish, meat, or even vegetables for that matter, is the minimal use of spices, the most basic mixture being Panch Phoron, which, in many variations, comprises mustard, fenugreek seed, cumin seed, aniseed, and black cumin seed. The fertile soil and annual rainfall makes for a rich variety of vegetables, especially xaak (green leafy vegetables), in Assam. The Assamese start their meal with a preparation called khar, which can be made with pulses or raw papaya. Likewise, a traditional Assamese meal would wind up with the quintessential Masar Tenga, which is a light sour fish prepared with tomatoes, kajinemu (long, thick-skinned lemon), or thekera (dried
mangosteen). Masar Tenga can also be prepared with bottle gourd or spinach. The khar at the onset of a meal actually helps in balancing out the acidity of the tenga. Other fish preparations that are easy to come by in any Assamese household are Xorixo Maas (fish cooked in ground mustard seeds), Patot Diya Maas (baked fish), Bhapot Diya Maas (steamed fish), Narasingho Maas (fish cooked with curry leaves), and Murighonto (a dish prepared specially with the head of the fish and pulses). One easy-to-make dish is Poitabhat, which I used to savour as a kid. It basically involves soaking cooked rice in water overnight. The next day, when the rice ferments, it is mixed with mustard oil, onions, chillies, pickle, and Aloo Pitika (mashed potatoes garnished with onions, green chillies, and coriander leaves).
The Assamese way of preparing fish, meat, or even vegetables for that matter, is the minimal use of spices...
Any true blue-blooded Assamese would swear by it. Over and above the main preparations, an Assamese meal would also have a variety of accompaniments or side dishes. A personal favourite of mine is ambal/tak, a sweet chutney, which can be prepared from tomatoes or star fruit. Similar side dishes would be Khorisa Tenga (fermented bamboo shoot that is mashed and at times pickled in mustard oil and spices), Kharoli (mashed mustard), and Begena Pura (roasted eggplant garnished with mustard oil, onions, and green chillies). Dry-fish chutney is popular in many tribal communities of Assam.
ALL THE SWEETNESS No Indian meal would be complete without indulging the sweet tooth, and Assamese cuisine is no exception. The Rossogolla is as popular in Assam as it is in West Bengal. It is usually served with yogurt. Payas (rice pudding) is an auspicious dish in the state, as it is made during ceremonies and pujas and also offered to the deities. And the grand finale to a grand Assamese meal is the Tamul (betel nut) and Paan, which helps for better digestion and a fresher mouth. Say what you want, when it comes down to simple facts, Assamese foods are unique from the tonnes of popular dishes across this vast nation. If you are a foodie, it’s time to grab some Poitabhat. Q
Four Interesting Facts on Assamese Cuisine • Mustard oil is the main medium of cooking Assamese food. • Food garnished with coriander leaves and green chillies is a common sight. • An Assamese meal is divided into different courses, with each course savoured with some amount of rice. • It is advisable that only one vessel be used for boiling rice so that the flavour of the rice remains the same.
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bemore ENVIRONMENT
WATER, WATER,
EVERYWHERE… …and not a drop to drink? Sometimes, even in the wettest of seasons, there seems to be a lack of usable water. But with a little bit of foresight and a few simple steps, you can make the most of the rains and never worry about water shortages again! By Freyan Patel
he onset of the monsoon in India usually signals three things — the end of another long, hot summer; relief for farmers whose harvests depend on the rain; and the replenishing of numerous water reservoirs around the country. And while the rains are often viewed as the solution to many problems that become prominent during the summer months (notably, in this case, a shortage of usable water), sometimes they’re just not enough. A number of factors, ranging from climate change to rapid urbanisation, are putting stress on the already limited water supply on Earth — of which only about 3 per cent is usable. While our government is taking steps to make the most of the rains through largescale rainwater harvesting, you too can make a difference by taking a few small steps at home.
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WHAT IS RAINWATER HARVESTING? Rainwater harvesting is the process of accumulating and storing rainwater for later use. It becomes extremely advantageous during a water shortage, as it provides an individual or a community an independent supply of water. Water can be collected on a small or large scale and used for a number of purposes, including drinking (once treated), irrigation, gardening, and even household chores such as mopping the floor and washing dishes. The notion of harvesting rainwater is surely not a new one. Communities have been practising rainwater harvesting as far back as the third century B.C. Archaeologists found a sophisticated rainwater collection and storage system in Crete, which dates back to 1700 B.C. The Chola kings put in place systems to harvest rainwater, as did our ancestors — the people of the Indus Valley Civilisation. In fact, in many ancient civilisations, it was rainwater harvesting alone that
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Rainwater harvesting becomes extremely advantageous during a water shortage, as it provides an individual or a community an independent supply of water. helped meet all the water-related needs of the people. This, of course, may not be possible today, due to the tremendous growth in population over the last few centuries, but that doesn’t mean rainwater harvesting can’t be helpful.
HOW TO GO ABOUT IT On a small scale, rainwater harvesting is an easy, cost-effective way to avoid a potential water shortage. This practice, which requires minimal knowledge, can be put to use in just a few steps to supplement a source of water when it is at the brink of becoming scarce or is of poor quality. For people living in arid or semi-arid areas, rainwater harvesting can be
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bemore ENVIRONMENT Keep it Clean Once rainwater is collected, always make sure it passes through a filter or water-treatment system of some kind. If you are harvesting rainwater at home, small filters can be fitted into your harvesting system to ensure the water is usable (even if it is not drinkable).
• Surface Run-Off Systems One of the most popular methods of rainwater harvesting is collecting rainwater in a drum or barrel by channelling it off your roof through a drain. Effective, quick, and simple, all you have to do is keep a rain barrel under a drain spout. While any large barrel or bucket will do, it is usually best to buy a true rain barrel, as it keeps out insects and has a spout that can be used when you need to retrieve the water from within. However, this method isn’t always conducive to people living in urban areas, especially those residing in highrise buildings. It works best for smaller homes and buildings. • Catchment Areas This method requires a little preplanning. You can use your rooftop or any paved or unpaved area in your compound as a catchment to collect rainwater. The water, once collected, is transported through pipes to a storage tank or another water collection system such as a well. • DIY Rainwater Harvesting If channelling rainwater from your roof into buckets is not a feasible option, fret not — there is another, more cost-effective method that can be employed in an urban
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used particularly well to gain the most out of less rainfall. Needless to say, rainwater harvesting is entirely dependent on the rain and thus has its limitations.
setting to collect rainwater. All you need is a plastic sheet and four poles (any material will work, as long as it will last in the rain). Simply tie each corner of the sheet to a pole, making sure that the sheet is not pulled too tight (rain will slide right off a taut sheet). Make a small hole in the centre of the sheet, under which you place a barrel to collect water. There is another way of collecting water by using the same materials. Tie the sheet to the poles but leave a large amount of the sheet loose on one side, which you can use for channelling water into a barrel or a can placed under the sheet. You can use this method of collection in a garden, an open balcony, or a terrace.
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With water shortages hitting many areas of the country, it’s no surprise that rainwater harvesting has increased in popularity. In fact, a number of state governments, most notably Tamil Nadu, have made rainwater harvesting mandatory for certain houses and buildings, with great success. Easy to implement, sustainable, economical, and of course, eco-friendly, rainwater harvesting helps you tap into the full potential of the rains, making the most of the monsoons. Q
Keep in Mind However you choose to collect rainwater, make sure you use an initial filter system such as a wire mesh to keep out impurities such as larger dirt particles and leaves. For example, if you’re draining water from your roof, put a mesh at the mouth of the drain pipe so that leaves don’t enter it.
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achievemore PROFILE
WIZARD OF
HOCKEY As the world gears up for the London Olympics this year, we take a walk down history and bring the spotlight on one of the greatest hockey stalwarts the world has ever seen. By Priya Prasad Illustration by Nilesh Juvalekar
he year — 1925. The setting — a hockey field in Jhelum, where the final of the Punjab Indian Infantry tournament is taking place. The losing side is down by two goals. Four minutes are left, and the coach yells at his players, exhorting them to change their fate. To his delight, someone does. The player puts three goals past the net of the winning side in those last few decisive moments, leading his team to a dramatic victory. That player was none other than Dhyan Chand.
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abilities, Chand scored 10 goals out of 20 in an international match at Dannkerke against New Zealand in 1926. Besides, Chand helped India bag gold medals at three consecutive Olympics, the first being in 1928. However, it is the Berlin Olympics of 1936 that remains unforgettable in the annals of Indian hockey.
Facets of a Legend • G FACT • Chand’s birthday, 29 August, is observed as National Sports Day. • Chand was the recipient of the Padma Bhushan in 1956, and on 3 December 1980, the government launched a postage stamp in his honour.
In a match watched by 40,000 spectators, the Indian team thrilled the audience and silenced the German team with their teamwork, coordination, and skills. Chand scored six out of the eight Born on 29 August 1905 into a Rajput goals for India and secured the win. It family in Prayag, Uttar Pradesh, is said that Hitler, amazed by Chand’s Chand never expressed any serious performance, offered the wizard an interest in sport, with the exception of opportunity to join the German army, wrestling. It was only after he joined the which Chand turned down gracefully. army at the age of 16 at Delhi’s First Battalion of the Brahmin Regiment that RETIREMENT AND LATER he took to professional hockey. He Chand retired from the Indian Army in soon established himself as a hockey 1956 and spent his later years as chief wunderkind. hockey coach at the National Institute of
RISE OF A STAR Chand was a phenomenon in scoring goals, and the magic he weaved with the hockey stick is the stuff of myths and legends. In one of his earliest demonstrations of his prodigious
Sports, Patiala. Although the accolades came rather late, he is still remembered for not only his flair with the hockey stick but also his services to the nation as an army man. He passed away in December 1979 and was cremated at the Jhansi Heroes grounds, with the
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• A statue of Chand with four arms and four sticks stands tall in Vienna in honour of his mastery and control of the ball. • For the run-up to the 2012 Olympics, a tube station in London has been named after Chand. • Chand loved to cook and was especially fond of rabri.
Punjab Regiment awarding him full military honours. Greats in sports come and go, but a legend such as Dhyan Chand will always be remembered for the stunning legacy he left behind. Q
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