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...subprime crisis). Now economic activity may shrink as part of a global slowdown. The country's growth estimates of 9% at the beginning of the year have been revised to well below 7%, and the effect is directly visible in the realty sector. "No one's buying anymore," says Ashwani Shukla of New Delhi-based Triveni Associates. "Two years ago, 25-year-olds earning fat pay packets from [multinational corporations] were buying high-end apartments. Now there are no takers for flats selling at 20% markdowns. Estate agents are finding it difficult to even meet daily overheads...

Author: /time Magazine | Title: Mirroring the US, India's Real Estate Sector Melts Down | 10/20/2008 | See Source »

Decked out in a fluorescent orange sherwani, Ashwani Chopra surveys the modest cocktail party he is throwing to celebrate his daughter Samara's wedding to Sharik Currimbhoy. The 1,000 guests mill under a marquee that's the size of a cricket field and help themselves to a 42-dish buffet. The sides of the tent are crimson chiffon, the ceiling is black satin inset with sequin stars, and the drapes and the throw cushions are gold and amber silk. The place is heated by 20 gas burners and illuminated by 25 chandeliers, 40 lanterns, 66 spotlights and 288 candles...

Author: /time Magazine | Title: Letter From New Delhi: Land of the Wedding Planners | 2/19/2006 | See Source »

Decked out in a fluorescent orange sherwani, Ashwani Chopra surveys the modest cocktail party he is throwing to celebrate his daughter Samara's wedding to Sharik Currimbhoy. The 1,000 guests mill under a marquee that's the size of a cricket field and help themselves to a 42-dish buffet. The sides of the tent are crimson chiffon, the ceiling is black satin inset with sequin stars, and the drapes and the throw cushions are gold and amber silk. The place is heated by 20 gas burners and illuminated by 25 chandeliers, 40 lanterns, 66 spotlights and 288 candles...

Author: /time Magazine | Title: Letter from India: Land of the Wedding Planners | 2/13/2006 | See Source »

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