Wah Taj! Yes, like millions before me even
I uttered this when I first beheld the manmade wonder. Having been a real estate person for so many
years, I had thought that I had seen it all. But on 21st July 2013,
I met the wonder of wonders that is truly a masterpiece, a class beyond
compare.
I uttered this when I first beheld the manmade wonder. Having been a real estate person for so many
years, I had thought that I had seen it all. But on 21st July 2013,
I met the wonder of wonders that is truly a masterpiece, a class beyond
compare.
The Taj Mahal is probably the
single most popular building in the world and I am sure there is no one who has
walked on Mother Earth who is not acquainted with this monument of true love.
Folklore says that it took 22 long years to build the Taj and the estimated
cost at that time was 32 million rupees. And no labour costs too which would
have been preposterously high in today’s scenario. Indeed it is an insane
value!
single most popular building in the world and I am sure there is no one who has
walked on Mother Earth who is not acquainted with this monument of true love.
Folklore says that it took 22 long years to build the Taj and the estimated
cost at that time was 32 million rupees. And no labour costs too which would
have been preposterously high in today’s scenario. Indeed it is an insane
value!
In my view a poor country like
India cannot afford such luxuries. Even at the time when the Taj was built, the
heavy expenditure made then cannot be supported. According to many like me, it
is totally a wasteful way for money to go. In fact it is said that Shah Jahan
had drained the coffers of India to build this monument. Showing his love for
his dead wife is quite alright but spending the nation’s wealth in such a crazy
manner is indeed deplorable. It is believed that his son, Aurangzeb, over threw
and held him captive because of his foolish decision.
India cannot afford such luxuries. Even at the time when the Taj was built, the
heavy expenditure made then cannot be supported. According to many like me, it
is totally a wasteful way for money to go. In fact it is said that Shah Jahan
had drained the coffers of India to build this monument. Showing his love for
his dead wife is quite alright but spending the nation’s wealth in such a crazy
manner is indeed deplorable. It is believed that his son, Aurangzeb, over threw
and held him captive because of his foolish decision.
The rationale behind such a
stupendous expenditure is difficult to comprehend. Probably this money could
have gone into helping the poor or building the country’s defences at that
time. Even an investment in improving agricultural productivity would have
proved to be very sound.
stupendous expenditure is difficult to comprehend. Probably this money could
have gone into helping the poor or building the country’s defences at that
time. Even an investment in improving agricultural productivity would have
proved to be very sound.
I feel that if a democratic
government starts building such an irrational piece of extravaganza
anti-incumbency would soon come in to play and 22 years of construction would
never get over. Not to mention that it would be labelled as one of the worst
decisions.
government starts building such an irrational piece of extravaganza
anti-incumbency would soon come in to play and 22 years of construction would
never get over. Not to mention that it would be labelled as one of the worst
decisions.
Probably that’s what happened with
Shah Jahan.
Shah Jahan.
But hold on! Is the investment as
frivolous as we deem it to be? On second thoughts the investment in terms of
real estate may not actually be a foolish one. It has been about 400 years
since the Taj Mahal came into being and has been unrivalled in beauty and
magnificence ever since with no close second. Over these four centuries no one
has been able to make anything even remotely as marvellous.
frivolous as we deem it to be? On second thoughts the investment in terms of
real estate may not actually be a foolish one. It has been about 400 years
since the Taj Mahal came into being and has been unrivalled in beauty and
magnificence ever since with no close second. Over these four centuries no one
has been able to make anything even remotely as marvellous.
Today Taj Mahal is the icon of
India and people from all over the world recognise our country as the place
where the most beautiful wonder belongs. This iconic monument draws more than 2
lakh tourists every year from all over the world. During my visit, four
busloads of Chinese and Japanese visitors arrived to gaze at the Taj. Just to
mention a point here- the entry fee for foreigners is Rs 750 per head.
India and people from all over the world recognise our country as the place
where the most beautiful wonder belongs. This iconic monument draws more than 2
lakh tourists every year from all over the world. During my visit, four
busloads of Chinese and Japanese visitors arrived to gaze at the Taj. Just to
mention a point here- the entry fee for foreigners is Rs 750 per head.
Ever since the Taj was made, it
has attracted tourists. The controversies surrounding the Taj has further
increased its value as a ‘must see’ place. It is a splendour that is found in
each and every world tourist guide or any list of ‘Places to see before you
die’. Recently a poll was held wherein people from across the globe
participated to rank the 7 Wonders of the Modern World and unsurprisingly the
Taj Mahal outshone the rest (the Giza Pyramids were exempted and included in a
separate category).
has attracted tourists. The controversies surrounding the Taj has further
increased its value as a ‘must see’ place. It is a splendour that is found in
each and every world tourist guide or any list of ‘Places to see before you
die’. Recently a poll was held wherein people from across the globe
participated to rank the 7 Wonders of the Modern World and unsurprisingly the
Taj Mahal outshone the rest (the Giza Pyramids were exempted and included in a
separate category).
In terms of revenue from tourism
earned by Taj, not only the city of Agra, but the entire country has benefitted
with the figures going up each year. There has been no recession or
depreciation in the market in this regard. The Muslim countries have been
bestowed with the riches of oil, however, they do not have the wherewithal to
even plan for such a monument. No matter how much the Muslims hate ‘Hindustan’ this
land is the proud possessor of the Taj Mahal.
earned by Taj, not only the city of Agra, but the entire country has benefitted
with the figures going up each year. There has been no recession or
depreciation in the market in this regard. The Muslim countries have been
bestowed with the riches of oil, however, they do not have the wherewithal to
even plan for such a monument. No matter how much the Muslims hate ‘Hindustan’ this
land is the proud possessor of the Taj Mahal.
India’s
Top 5 Monuments
Top 5 Monuments
|
Revenues – Top 5 monuments
(Rs crore) |
||
|
|
2011
|
Change%
|
|
Taj Mahal
|
19.9
|
15
|
|
Agra fort
|
10.4
|
-5
|
|
Qutub Minar
|
10.1
|
13
|
|
Humayun’s Tomb
|
6.2
|
11
|
|
Red fort
|
5.9
|
6
|
|
Source: ASI
|
||
All the
top ASI monuments listed above are in the “Delhi Circuit” and I am sure that
without the Taj Mahal there would be 50% reduction in the “Delhi Circuit”
tourists.
top ASI monuments listed above are in the “Delhi Circuit” and I am sure that
without the Taj Mahal there would be 50% reduction in the “Delhi Circuit”
tourists.
Consider
this: If a foreigner spends about Rs. 750/- for entry fee then he stays 1 day
in a hotel for not less than Rs. 5,000/-. And of course he spends at the souvenir shops too, carrying home a piece of memory. This way even if we assume the
revenues are Rs. 5 crores from entry fees from foreigners then approximately
Rs. 33 crores we get additional foreign exchange as tourists spend 1 more day
in hotel to see the Taj Mahal.
this: If a foreigner spends about Rs. 750/- for entry fee then he stays 1 day
in a hotel for not less than Rs. 5,000/-. And of course he spends at the souvenir shops too, carrying home a piece of memory. This way even if we assume the
revenues are Rs. 5 crores from entry fees from foreigners then approximately
Rs. 33 crores we get additional foreign exchange as tourists spend 1 more day
in hotel to see the Taj Mahal.
Looking back it seems it is the
best real estate investment that any country could have made. Even Aurangzeb
would have agreed with me on this! Shah Jahan’s name is immortal and so is his
idea of tagging the wonderful monument as a tribute to his great love for his
wife, adding the much needed romanticism that makes any monument famous. Agra
is earning a lot due to Taj Mahal. And so is India.
best real estate investment that any country could have made. Even Aurangzeb
would have agreed with me on this! Shah Jahan’s name is immortal and so is his
idea of tagging the wonderful monument as a tribute to his great love for his
wife, adding the much needed romanticism that makes any monument famous. Agra
is earning a lot due to Taj Mahal. And so is India.
Moral of my visit to the Taj: Investments in real estate – give
you good returns over a period of time.
you good returns over a period of time.