Housing prices in top eight Indian cities saw a steady 3% QoQ growth: CREDAI – Colliers – Liases Foras
Gurugram, India, 26th August 2024: Positive homebuyer sentiment and steady demand have kept the momentum strong in residential market across major Indian cities. Average housing prices across the top eight Indian cities witnessed a 3% QoQ growth in Q2 2024. Interestingly, quarterly price movements at India level have been almost similar at about 3% for the last four quarters. This stability in price growth is reflective of steady underlying demand over the last few quarters. On an annual basis too, average housing prices at the end of Q2 2024 have showed a 12% growth across the eight major cities. Interestingly, 7 out of 8 cities under review witnessed annual price appreciation, with Delhi NCR witnessing the highest price rise at 30% YoY closely followed by Bengaluru.
While unsold inventory remained stable on an annual basis at a pan India level, it dropped marginally on a quarterly basis amid healthy sales in housing units. At 5%, Kolkata saw the highest sequential decline in unsold inventory levels followed by Pune with 3% dip. As of Q2 2024, there was an availability of over 10 lakh housing units across the primary market of eight major cities, with MMR alone having about 40% share in unsold inventory levels. Despite yearly increase in number of unsold units in Hyderabad and Bengaluru, both cities saw a modest dip on a sequential basis. As the festive season approaches, developers are likely to closely monitor new launches and overall housing stock in prominent residential catchment areas.
Mr. Boman Irani, President of CREDAI National stated, “Indian Real Estate has been somewhat experiencing a bull run in the past few quarters, substantiated by the volume of transactions across Top 8 cities as well as the prevalent positive sentiments towards housing. There has been a direct impact on housing prices – signifying not just the underlying demand but the definitive shift towards real estate as a preferred asset class. With the upcoming festive season – coupled with the Government’s focus on infrastructure and a relatively stable lending eco-system – we project this momentum to be further have an impact on both prices and unsold inventory levels, as the industry’s demand-supply dynamics change.”
“Housing demand has continued to remain healthy over the past few quarters. Concurrently, stable interest rates and recent positive budgetary announcements, have provided tailwinds for the housing market of the country. Notably, average housing prices have witnessed a consistent double-digit annual growth rate (12% in Q2 2024,) adding buoyancy to the sustained growth story in residential real estate. Additionally, the upcoming festive season will further invigorate the housing market with heightened sales and new launches. We thus envisage a strong finish for the housing market in 2024.”, added, Badal Yagnik, Chief Executive Officer, Colliers, India
Pan India residential price trends (Q2 2024) (in INR/sq ft) –
| City | Average Price Q2 2023 | Average Price Q1 2024 | Average Price Q2 2024 | QoQ Price change (Q2 2024 vs Q1 2024) | YoY Price change (Q2 2024 vs Q2 2023) |
| Ahmedabad | 6,507 | 7,176 | 7,335 | 2% | 13% |
| Bengaluru | 8,688 | 10,377 | 11,161 | 8% | 28% |
| Chennai | 7,653 | 7,710 | 7,690 | 0% | 0% |
| Delhi NCR* | 8,652 | 9,757 | 11,279 | 16% | 30% |
| Hyderabad | 10,530 | 11,323 | 11,290 | 0% | 7% |
| Kolkata | 7,315 | 7,727 | 7,745 | 0% | 6% |
| MMR* | 19,111 | 20,361 | 20,275 | 0% | 6% |
| Pune | 8,540 | 9,448 | 9,656 | 2% | 13% |
Source: Liases Foras, Colliers
All the prices are based on carpet area
*NCR- National Capital Region
**MMR- Mumbai Metropolitan Region
“Sales across India’s cities have maintained growth despite the price rise. The current quarter also showed a remarkable 33% increase in new launches in the affordable segment. NCR’s growth in sales and new launches augurs that the market will stay on a growth trajectory.”, said Pankaj Kapoor, Managing Director, Liases Foras.
Leading the top eight cities, Delhi NCR saw a 16% QoQ rise in housing prices
At 16%, average housing prices in Delhi NCR witnessed the highest quarterly price appreciation. Within Delhi NCR, Dwarka Expressway and Greater Noida witnessed impressive price appreciation at 35% and 24% QoQ in average housing prices respectively. This is the highest quarterly price rise for these micro markets in last few quarters and is led by the recent pick up in luxury segment launches. Furthermore, preference for spacious housing units in luxury & ultra-luxury segments led up-to 12% QoQ growth in average price of 3-4BHK configurations in Delhi NCR.
Bengaluru too witnessed significant price appreciation, with average housing prices in the city breaching the INR 11,000 mark in Q2 2024. Average residential prices in the city increased by 8% on a quarterly basis. Within Bengaluru, Inner East micro market saw the highest quarterly rise at 25% followed by Periphery & Outer East micro market at 10%. Additionally, led by heightened demand in luxury segment, Inner East and Periphery & Outer West micro markets, have witnessed significant surge in average housing prices for ready units.
Unsold inventory declined on a quarterly basis in 7 out of the 8 cities
Excluding MMR, unsold inventory levels have declined by up to 5% on a quarterly basis across all cities under review. While MMR witnessed healthy sales in residential units during Q2 2024, a significant surge in new launches led to a marginal rise in unsold units. On an annual basis with a 13% YoY drop, Pune particularly witnessed the highest annual decline in unsold units. Annual declines in unsold inventory levels have been significant in Ahmedabad, Chennai and Kolkata too with 6-8% drop.
“Within the residential market, demand growth has been the strongest in luxury & ultra-luxury segments including second & vacation homes which is evident with price growth in select micro-markets of Delhi NCR and Bengaluru. Average housing prices for spacious dwelling units, particularly 3-4BHK configurations in these cities have increased up-to 30% on an annual basis. Additionally, the government’s recent partial rollback pertaining to long term capital gains arising out of sale of land and buildings retrospectively is expected to boost investors and homeowners’ sentiment and thus, the real estate sector at large,” said Vimal Nadar, Senior Director and Head of Research, Colliers India.
Technical Briefing for Elite Runners of NMDC Hyderabad Marathon Powered by IDFC First Bank held
Police to make elaborate arrangements to ensure the smooth conduct of the event
Hyderabad, August 23, 2024: A Technical Briefing was done to Elite runners both International and Indian runners who will be participating in the 13th Edition of NMDC Hyderabad Marathon Powered by IDFC First Bank at Hotel Park Hyatt on Friday evening.
The briefing was done by Mr Norrie Williamson, World Athletics Technical Delegate; Mr Hanif Iqbal, Indian Athletics Technical Delegate; Mr Ulf Anders Saletti, World Athletics Certified Delegate, Mr. Hari Prasad, ACP, Punjagutta; Mr Rajesh Vetcha, Race Director, Mr Avinash Palavancha, Assistant Race Director of NMDC Hyderabad Marathon 2024
A total of 52 elite runners are participating in the Marathon.
They were briefed about World Athletics rules, doping control, route details, aid station facilities, competition bibs, shoes, competition rules and other race-relevant details
Competition shoes must be in accordance with the Worth Athletics rule 5. Spot checks could be made and wearing unauthorized shoes will result in disqualification, they were told.
Doping tests will be conducted among the top finishers in the male and female divisions. The athletes will be chosen at random by the World Athletics Technical delegates, it was informed.
The Marathon will have 9 elite-specific aid stations. Apart from these 9 stations, there will be 12 water and sports drink-only aid stations. It is forbidden to receive drinks on any other part of the course, the elites were told.
16 Ambulances and Bike ambulances will be put into service.
Mr Hari Prasad, ACP Punjagutta, representing the Police Commissioner and additional commissioner of Hyderabad Traffic said elaborate arrangements will be made to ensure that the event goes smoothly with the least inconvenience to commuters.
The event is being organised for the public good. The event’s mission is to promote active lifestyles amongst the public and make running the preferred form of fitness activity. Hence, the police extend their fullest cooperation. He urged people to come out in large numbers, cheer and encourage participants. He said the Police will also issue a public advisory on the traffic restrictions.
NMDC Hyderabad Marathon powered by IDFC First Bank is a certified “World Athletic Label race” for 2024 and is organized in accordance with the World Athletics competition rules and technical rules informed Rajesh Vetcha, Race Director.
The main event is on 25th August 2024. Full Marathon will be flagged off at 4:30 a.m., Half Marathon and 5:30 a.m. (from People Plaza, Necklace Road) and 10K Run at 7.00 a.m. from Hitex, Madhapur.
Landmark Collaboration between Royale Estate Group & Mohali Industries Association (MIA) on Mohali Industrial Economic Zone (MIEZ)
Royale Estate Group and Mohali Industries Association enter into a landmark affiliation as a new initiative to welcome industry on board. This amazing development is bound to give a big boost toward making MIEZ the best and the biggest Industrial Township in the region.
On this special occasion, Royale Estate Group announced an exclusive offer on industrial plots at the Mohali Industrial Economic Zone (MIEZ) for members of the Mohali Industries Association (MIA), during an interactive session held at The Mohali Club on August 21, 2024. The event witnessed the esteemed presence of key stakeholders, industry leaders, and approximately 300 industrialist members of the MIA.
The event highlighted the benefits of the new offer which includes a comprehensive support system for every industrialist and plot owner, ensuring a hassle-free experience. From layout approvals to construction processes, the offer provides assistance at every step, along with access to government subsidies through a Single Window Support system. This initiative underscores Royale Estate Group’s commitment to fostering industrial growth in Mohali by providing top-tier industrial infrastructure at competitive rates.
MIEZ is a unique industrial initiative by Royale Estate Group which will prove to be a game-changer in terms of industrial revolution in the Tri-city and across the states of Punjab, Haryana, Himachal and J & K. Spread over 150 acres with a vision to eventually take it to 500 acres over the next 3 years, MIEZ’s proximity to an International Airport, biggest Railway Junction of the region and close to the Dry Port of Shambhu barrier, augmented by great advantage of connectivity to all the 4 states, makes it the best Industrial Township ever in Tri-City. With unparalleled facilities and amenities like Convention Centre, centralized Reception lobby, Meeting Rooms, Conference Hall, Food Court, Fully Equipped Laboratory, Skill Development Centre, Housing for Migrant Labours, a Labour Contract centre, Staff Canteens and so on, this industrial township is surely going to an industrial destination to reckon with.
Mohali Industries Association (MIA) has immensely contributed towards growth & development of the industrial township through valuable affiliations and collaborations. MIEZ enjoys all benefits given by the Govt of Punjab under the “Invest Punjab” initiative and by the Govt of India under the MSME “Make in India” initiative.
Sh. Neeraj Kansal, Managing Director, Royale Estate Group, expressed and shared his vision for MIEZ, “We are excited to launch this exclusive offer for our esteemed MIA members. Mohali Industries Association has played a very significant role in bringing MIEZ to its current shape and status. Our goal is to create an environment at MIEZ where industries can grow and prosper, backed by our unwavering commitment to quality and service. Through this offer, we aim to initiate a significant step towards enhancing industrial growth in Mohali. It allows our members to invest in prime industrial plots with added benefits, reinforcing our vision of a strong industrial hub in the region.”
Mr. Ashish Mittal, Director, MIEZ, said, “At MIEZ, more than 60 reputed industries are already on board and are in the process of setting up their respective industries ranging from pharmaceuticals, packaging, food processing, agro and agriculture, engineering, tractors and autoparts, metal and bath fittings, machines, furniture, marbles and granites and so on. A few names from these industries are Comments Industry, Zenus Metal Manufacturers, Gopal Sweets, VK Engineering Works, Making Ways Auto Industries, Boparai Auto Industry, Woodcraft, Ethnic Biotech, Forgo Pharmaceutical Pvt Ltd, Swastik Lifesciences Pharmaceuticals, Raj Steel Furniture, Woodcraft and many more.”
Further, Col. Inderjeet Suri, President, Royale Estate Group, gave a detailed presentation on MIEZ and enlightened the attendees about the journey of Royale Estate Group. He highlighted how, in the new industrial revolution of Tri-City, the group had developed the MIEZ Industrial township through its innovative approach and vision. “The group envisions providing employment to around 50,000 skilled and unskilled people across the region at MIEZ, besides boosting the economy of the state of Punjab”, he added.
The interactive session also served as a platform for attendees to engage with industry experts, discuss the future of Mohali’s industrial landscape, and explore the potential of MIEZ as a prime investment destination. The event concluded with a networking dinner, providing an opportunity for participants to share vision and discuss future prospects of MIEZ and the advantages of the new offer.
Blog
Creating a Positive Tenant Experience in Apartment Living: A Comprehensive Guide
By Sujata Muguda,
Apartment living may be a particularly exciting and enjoyable experience while both tenants and asset managers collaborate to create welcoming and harmonious surroundings. High-quality tenant enjoyment goes beyond virtually imparting an area to stay; it’s about fostering a feel of home, network, and belonging. Below are a few strategies that property managers can put in force to ensure a wonderful tenant experience in an apartment.
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Clear and Concise Lease Agreements
The foundation of a wonderful tenant-landlord courting begins with a clear and nicely dependent hire agreement. This record needs to detail all terms, situations, and duties in straightforward language, leaving no room for confusion or misunderstanding. An obvious hire agreement helps prevent disputes and guarantees that each event is on the same page from the start.
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Prompt Response to Requests
Responding quickly to upkeep requests and tenant issues is critical in showing tenants that their comfort and well-being are a priority. Whether it’s a minor restore or a full-size trouble, addressing issues in a timely way builds trust and pride. Tenants who experience heard and valued are more likely to have a fantastic dwelling experience and continue to be in the assets longer.
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Respect for Privacy
While asset managers must be worried about the upkeep of the property, respecting tenant privacy is vital. Property managers ought to strike stability between being attentive to the needs of the tenants and giving them the space they want to feel snug in their houses. A regular conversation about visits or inspections, with ok observation, demonstrates appreciation for the tenant’s privacy.
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Fair and Consistent Treatment
All tenants ought to be handled with fairness and consistency. This consists of the same enforcement of network guidelines and obvious conversation regarding any modifications or updates. Favoritism or inconsistent rule enforcement can lead to dissatisfaction and a sense of unfair remedy, which can harm the general tenant experience.
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Efficient Repair and Maintenance
A properly maintained asset is a happy property. Quick and green upkeep exhibits a dedication to maintaining the property and making sure that tenants stay in a secure and cushy environment. Regular renovation not only addresses instant issues but also allows you to save your large, dearer problems down the road.
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Incentives for Long-Term Leases
Offering incentives for lengthy rental periods can attract both tenants and landlords. For tenants, it offers balance and the guarantee that they receive the need to relocate often. For landlords, it reduces turnover and the associated charges of finding new tenants. Incentives ought to encompass rent reductions, improvements to the condominium, or other perks that upload value to the tenant’s dwelling revel in.
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Building a Community
Fostering a feel of network among tenants can notably decorate their dwelling revel in. Organizing network activities, along with excursion gatherings, film nights, or fitness instructions, encourages high-quality interactions among acquaintances and allows build a supportive and friendly atmosphere. A sturdy community can make an apartment complex feel like a true home, in preference to simply a place to live.
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Utilizing Technology
Incorporating virtual systems into belongings management can streamline conversation and enhance tenant experiences. A tenant portal or app can offer a valuable place for tenants to report issues, pay rent, and obtain critical updates. This comfort no longer enhances the tenant’s enjoyment but also lets property managers manipulate responsibilities more successfully.
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Safety and Security
Ensuring the safety and security of the belongings is a pinnacle of precedence for any assets supervisor. This includes installing stable locks, keeping properly lit common regions, and, where viable, offering safety to employees or surveillance structures. A steady environment gives tenants peace of mind, which is a vital component of a positive living revel in.
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Quality Amenities
Providing best amenities can drastically decorate a tenant’s day-by-day life. This includes current appliances, sufficient garage area, on-hand parking, and well-maintained communal areas like gyms, pools, or lounges. Quality amenities upload value to the belongings and can be a figuring-out aspect for tenants when selecting where to stay.
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Regular Inspections
Conducting regular inspections allows for identifying and coping with potential problems earlier than they turn out to be big issues. These inspections ensure that the assets remain in pinnacle situation and that tenants are dwelling in a safe and well-maintained environment. Inspections ought to be performed with appreciation of the tenant’s privacy, with proper notice given in advance of time.
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Positive Attitude
A nice and proactive mindset from property management can greatly have an impact on the tenant. Being approachable, friendly, and answer-orientated could make tenants feel valued and supported. A control group that listens to tenant concerns and works diligently to address them can foster a positive atmosphere that enhances universal pride.
By enforcing those strategies, asset managers can create a surrounding in which tenants feel valued and glad to call their condo home. It’s a collaborative attempt that no longer only improves the first-class lifestyles for tenants but also advantages belongings managers by way of fostering a stable and engaged tenant base. A wonderful tenant revels in ends in longer rentals, fewer vacancies, and a more potent network, in the long run contributing to the success of the belongings.
These systems provide complete recommendations on a way to increase the usual of condominiums residing for tenants, making sure a superb and profitable experience for all worried.
BharatPe to offer secured loans to its merchant partners: Announces partnership with OTO Capital and Volt Money
BharatPe to facilitate Two-wheeler loans and Loans Against Mutual Funds
Mumbai, India, August 20, 2024 – BharatPe, India’s leading name in the fintech industry, today announced its foray into facilitation of secured loans for merchant partners on its platform. The company has launched facilitation of two-wheeler loans and Loans Against Mutual Funds (LAMF) for its existing merchant partners in the first phase. BharatPe has partnered with OTO Capital, an emerging digital commerce and lending platform, for enabling two-wheeler loans. Additionally, the company has partnered with Volt Money to facilitate Loans Against Mutual Funds to its merchant partners. The company plans to expand this to a multi-product and multi-lender offering in the next phase.
BharatPe’s merchants can now avail two-wheeler loans of up to Rs. 2.5 lacs, at competitive interest rates, for their next two-wheeler purchase from OTO Capital. The loan application process is 100% digital and merchants have the option to choose the repayment period between 12- 48 months. With the launch of Loans Against Mutual Funds (LAMF) in partnership with Volt Money, BharatPe’s merchants can also avail loan of up to Rs. 1 crore against Mutual Funds.
Speaking on the launch, Nalin Negi, CEO, BharatPe, said, “BharatPe started out in 2018 with the objective of empowering millions of offline merchants with new-age fintech products that deliver value to their businesses. In 2019, we ventured into the facilitation of unsecured loans with the motto of addressing the US$ 0.5 trillion MSME credit gap that has acted as a blocker to the growth of this industry. Over the course of the last few years, we have made great progress and have facilitated unsecured loans of over Rs. 15,000 crores to our merchant partners. I am excited about the launch of the secured loans offerings as this further bolsters the credit portfolio enabled by BharatPe and underscores our commitment to enable credit access to our merchants. I would like to thank OTO Capital and Volt Money for joining hands with us to enable credit for our 1.3 crore+ merchant partners.”
Added Nalin “The launch of secured loans for BharatPe’s merchant partners will open a new monetization channel for us and also help us drive engagement with our merchants, by offering them an extensive portfolio of loan options to choose from. In the coming months, we will be adding new products in the secured loans category so as to cater to a wide set of requirements. I am confident that secured loans will have a significant contribution to our overall revenue in the coming months. We stay committed to empowering our merchant partners and will continue to roll out disruptive products that are relevant for them.”
Speaking on the launch of two-wheeler loans, Sumit Chhazed, C.E.O, OTO Capital, said, “We believe in the power of mobility to transform lives. Our mission is to make two-wheeler ownership accessible and affordable for every aspiring entrepreneur in India. Together, we are committed to providing accessible mobility solutions that will help businesses thrive. Our partnership with BharatPe is rooted in our shared commitment to empowering India’s entrepreneurial spirit. Together, we’re building a future where every business has the opportunity to thrive.”
Speaking about the launch of loans against mutual funds, Bharat Lamba, Co-founder & CBO at Volt Money, “We cannot be more excited about this strategic partnership with BharatPe. As a company, we closely identify with BharatPe’s mission of financial inclusion for Indian merchants. By providing instant loans against Mutual funds, we are uniquely positioned to meet the short-term liquidity and working capital needs of MSMEs, thus enabling and empowering them financially. This collaboration represents a significant step forward in our commitment to providing low-cost 100% digital financing solutions to Indian businesses by unfurling them to BharatPe’s diverse large base of merchants.”
Both the two-wheeler loans and Loans Against Mutual Funds will be enabled on BharatPe platform. The loan disbursal and collections will be taken care of by the partner at their end. BharatPe is set to expand its offerings over the next three months, introducing a diverse range of products and lenders to meet the needs of merchants.
Green Building Practices: The Future of Sustainable Real Estate
By Mr Sunil Bedi, Founder, JMD Group
The real estate industry is undergoing a significant transformation, driven by the growing importance of green building practices. As sustainability becomes a key factor in decision-making for both developers and consumers, the adoption of eco-friendly construction methods is reshaping the market. Green building practices not only address environmental concerns but also offer economic and social benefits, making them a vital component of modern real estate development.
Defining Green Building Practices
Green building practices refer to the methods and principles used to create structures that are environmentally responsible and resource-efficient throughout their lifecycle. These practices focus on several core aspects:
Energy Efficiency: Utilizing advanced technologies and designs to reduce energy consumption in buildings.
Sustainable Materials: Incorporating materials that have a minimal environmental impact, are recycled, or are sustainably sourced.
Reduced Environmental Impact: Implementing strategies to minimize the ecological footprint of buildings, such as using renewable energy sources and improving water efficiency.
Impact on Property Values
Green building practices significantly influence property values. Buildings that incorporate energy-efficient systems and sustainable materials often command higher prices in the market. For example, properties with LEED (Leadership in Energy and Environmental Design) certification are highly sought after due to their proven commitment to sustainability. As consumer awareness of environmental issues grows, so does the demand for green buildings, leading to a positive effect on property prices.
Development and Investment Opportunities
The green building sector presents emerging opportunities for developers and investors. Successful green building projects demonstrate that eco-friendly construction can be both profitable and sustainable. For instance, the Bullitt Center in Seattle, known as the greenest commercial building in the world, has set a benchmark in the industry. Such projects attract investors looking for long-term gains and reduced risk, as green buildings tend to have lower operating costs and higher tenant retention rates.
Enhancements in Urban Living
Green building practices contribute to significant improvements in urban living. They promote healthier indoor environments through better air quality and natural lighting. Energy-efficient designs lead to reduced energy costs for occupants, while the use of sustainable materials ensures a lower environmental impact. These enhancements not only improve the quality of life for residents but also drive demand for green properties as more people seek out sustainable living options.
Conclusion
The future of real estate lies in embracing green building practices. As sustainability continues to shape the industry, developers, investors, and consumers must recognize the long-term benefits of eco-friendly construction. By focusing on energy efficiency, sustainable materials, and reduced environmental impact, green building practices offer a pathway to a more sustainable and prosperous future in real estate.
udaan Partners with the Ministry of Consumer Affairs, Food and Public Distribution, and SIDBI
udaan Partners with the Ministry of Consumer Affairs, Food and Public Distribution, and SIDBI to transform Fair Price Shops into ‘Jan Poshan Kendras’
New Delhi, August 20, 2024: udaan, India’s leading eB2B platform, today announced a partnership with the Ministry of Consumer Affairs, Food and Public Distribution, and the Small Industries Development Bank of India (SIDBI) to transform Fair Price Shops (FPSs) into ‘Jan Poshan Kendras (JPK)’. This initiative by the Ministry of Consumer Affairs, Food and Public Distribution, is aimed to enhance the income of Fair Price Shops (FPS) dealers while improving nutritional outcomes for beneficiaries. The initiative further aims to provide upskilling, access to credit and ongoing financial support to FPS dealers, enabling them to offer nutrition-dense non-Public Distribution System (PDS) commodities at their shops.
The initiative was launched in the presence of Shri Pralhad Joshi, Hon’ble Union Minister of Consumer Affairs, Food and Public Distribution & New and Renewable Energy in New Delhi today. Also present at the occasion were Shri Manoj Mittal, Chairman & Managing Director from SIDBI, and Vaibhav Gupta, Co-Founder & CEO of udaan.
Vaibhav Gupta, Co-Founder and CEO, udaan, said, “At udaan, our mission has always been to empower small businesses and create a more inclusive and efficient marketplace. The Jan Poshan Kendra Development initiative of the Ministry of Consumer Affairs, Food and Public Distribution, in association with SIDBI and udaan, is a significant step towards achieving that vision. By modernising Jan Poshan Kendra and expanding their access to a diverse range of products, the initiative aims to empower these essential community businesses while contributing to the broader goal of ensuring that every Indian has access to quality and affordable nutrition. We are proud to be a part of this transformative initiative that will uplift both the small shops and the communities they serve.”
As part of this initiative, udaan will enable Jan Poshan Kendras to access a broader and more diverse assortment of food products through its eB2B platform. This will address the requirements such as the availability of wide variety of products, regular stocking of frequently demanded products, and the need to serve a large and diverse population. This initiative will provide the Jan Poshan Kendras with large variety and adequate quantity of nutritional options at regular intervals to cater to the communities in the areas they are present.
Under the pilot initiative, approximately 60 selected Fair Price Shops (15 FPSs from each pilot district/ state) across four States: Rajasthan (Jaipur), Uttar Pradesh (Ghaziabad) Telangana (Hyderabad), and Gujarat (Ahmedabad) have been identified. Post a successful validation of the model, the initiative aims to expand and cover ~1.3 lakh Jan Poshan Kendras identified by the Ministry of Consumer Affairs, Food and Public Distribution for modernisation. To provide impetus to this initiative through financial assistance, SIDBI will offer credit facilities to these Jan Poshan Kendra, enabling them to purchase food grains and FMCG products through udaan’s platform. As part of the pilot project being undertaken in various States, udaan will offer access to over 3500 products across various staples and FMCG categories, ensuring that Jan Poshan Kendras can meet the diverse nutritional needs of their communities. This initiative is a significant step towards realising the Government’s vision of a healthy and well-nourished India.
By being part of this initiative, Jan Poshan Kendras will immensely benefit from quality products at affordable pricing, a wider variety of food products and selections, better product availability, and enhanced convenience of ordering anytime. In turn, the underserved communities that they serve will gain access to a broader range of essential nutritional options at various price points, thereby improving their overall nutrition.
In collaboration with the Ministry of Consumer Affairs, Food and Public Distribution and SIDBI, udaan has already conducted multiple educational workshops for Jan Poshan Kendra owners, educating them on the benefits and opportunities provided by this initiative. The response from shop owners has been overwhelmingly positive, indicating strong support and enthusiasm for the initiative.
Dwarka Expressway: Property hotspot with unmatched Investment Potential
Located strategically between Delhi and Gurgaon, Dwarka Expressway has emerged as one of the most attractive property destinations.
By Mr. Vijay Jain, Managing Director, Star Estate
Unlike the traditional property hotspots in Delhi-NCR, Dwarka Expressway stands out with its well-planned infrastructure and superb connectivity. Its proximity to key landmarks, including Indira Gandhi International Airport and the upcoming Diplomatic Enclave, makes this corridor a perfect investment destination for residential and commercial real estate.
As the Expressway ensures a high level of accessibility and convenience the location has emerged as an attractive choice for both the investors and homeowners. Dwarka Expressway is also characterized by its state-of-the-art infrastructure. If we compare this location with all the other property destinations in Delhi-NCR, Dwarka Expressway has set a distinctive high standard for modern urban living. Touted as a game changer, the Dwarka Expressway property market offers well-designed residential and commercial spaces. Buoyed by the high sentiments of the investors, the property values in this burgeoning real estate market have appreciated significantly.
While there is high demand in this market, the rising property values have increased interest from top developers. Already the early investors at this location are reaping rich rewards in the form of significant returns on their investments. The area’s appeal is further enhanced by the ongoing development of world-class amenities and infrastructure.
As gradually more and more real estate projects are nearing possession, the potential for capital appreciation is amplifying manifold.
Another important hallmark of this location that particularly attracts end-users is its contribution to offering a balanced lifestyle. While providing modern living and luxurious amenities, most of the residential projects along Dwarka Expressway are designed to offer a distinctive blend of luxury and convenience.
In terms of amenities, the area boasts everything from landscaped gardens and clubhouses to world-class fitness centers and recreational facilities, catering to a diverse range of needs and preferences. Meanwhile, the real estate players at Dwarka Expressway are focused on providing high-quality living. It has swiftly emerged as a premier destination for real estate investment.
However, before finalising a property at Dwarka Expressway, it’s advisable to conduct thorough research. In this process, the consultation with experienced real estate professionals equally remains crucial. It is important to make informed investment decisions. As opportunities are aplenty, the investors should fully understand the available options. Taking into consideration all these factors, and by understanding the market dynamics the investors and the homebuyers can capitalize on the high potential Dwarka Expressway real estate markets.
Young Mountaineer from Odisha – Chinmaya Maharana seeks financial assistance for expedition to Mount Elbrus
Young Mountaineer from Odisha – Chinmaya Maharana seeks financial assistance for the expedition to Mount Elbrus the Highest peak in Europe (5642mtr/18510ft) from 10 to 22 Aug 2024
Bhubaneswar, August 8, 2024: Chinmaya Maharana a young international Mountaineer sportsperson from Odisha is looking for financial assistance for the expedition to Mountain Elbrus, the highest mountain in Russia and Europe. He belongs to Raghurajpur village in Puri district. Raghurajpur is a heritage village in the Puri district of Odisha, India. It’s known for its arts and crafts, including Pattachitra painting, stone carvings, palm leaf inscriptions, and traditional dances. The village is also known for its Odishi village and Gotipua dance.
Chinmaya Maharana has built up this career in adventure sports, particularly mountain expeditions and he has achieved so many adventure mountaineer activities in the recent past.
Adventure Activities:
- Successfully summited the highest Peak of the African continent Kilimanjaro (19341ft) in 2022
- Successfully summited YUNAM (6111mtr/20049ft) Himalayan Rang, India. In 2021
- Successfully climbed Rudugaira (19000ft) India, Uttarkashi in 2019
- Successfully climbed Darwa Top (13000ft) India, Uttarkashi in 2018
- Successfully climbed Palung II (18000ft) India, Sikkim Himalaya in 2017
- Successfully summited Stock Kangry (6153mtr/20187ft) Ladakh, India in 2016
- Successfully summited Ranisui (13123ft) Manali in 2016
- Successfully summited Lamaduag (11482ft) Manali in 2016
- Successfully climbed Shetadhara Peak (15700ft) in Manali, Himachal Pradesh. In 2015
- Successfully participated in the Biju Pattanaik Himalayan Expedition – 2018 as a Team Leader.
- Completed BMC from Atal Bihari Vajpayee Institute Allied Sports (ABVIMAS) in 2015. in 2017, from the renowned Jawahar Institute & Winter Sports Pahal gam, J & K, and (HMI) Darjeeling, India.
- Displayed the Patachitra painting of Lord Mahaprabhu Jagannath’s Nagarjuna Besha the highest Peak in the Africa continent upon Reaching the Peak.
- Under my Leadership during the Yunam Expedition 75mtr Long National flag was Exhibited on the Peak while celebrating the 75th year of Independence with 75 Participants the first in the Himalayan range.
- He is the first person from Odisha state who hosted Lord Maha Prabhu Shree Jagannath Flag (Baana) on the Top of the Yunam peak during the Expedition Conducted Last year.
Please reach out to Chinmaya Maharana at his number 8093987914 for any sort of financial help. This will help him to scale highest peaks in the world in his future endeavors.
2nd CREDAIbility-themed Property Show Inaugurated
Hyderabad, 10th August 2024: CREDAI, the Confederation of Real Estate Developers’ Associations of India, the country’s apex body of private real estate developers, after the mega success of the property show at Hitex to organize the 2nd CREDAIbility-themed property show at Shree Convention Centre in Kompally from 9th to 11th of August 2024. At the property show, the best projects featuring Apartment complexes, Villas, Plots, and Commercial Spaces in the areas of Balanagar, Kompally, Shamirpet, Medchal, Alwal, Patancheru, etc will be on display under one roof.
Mr. V. Rajashekar Reddy, President of CREDAI Hyderabad, said, “Hyderabad’s real estate industry is strong and expanding rapidly with an Annual growth (CAGR) of 29% in total value of unit sales from H1-CY19 to H1 CY24. The city has registered a 257% increase in value of units sold for H1-CY24 Vs. H1-CY19 and 148% growth in housing unit sales with 38.643 units sold in H1 – CY24 vs H1-CY 19. These numbers highlighted in Hyderabad Housing Report by CREDAI Hyderabad in association with CRE Matrix highlight the rapid momentum and positive sentiment on ‘Brand Hyderabad.’ Hyderabad is rapidly evolving into a global city, marked by ambitious infrastructure projects such as the construction of new radial roads under SRDP, expanded metro and MMTS network, plans for rapid transit corridors to enhance last-mile connectivity. The Musi Riverfront initiative aims to establish a vibrant recreational space, while advancements in digital technology will further propel the city’s modernization. The Government under the leadership of Hon’ble CM Shri A. Revanth Reddy, is acting fast and decisively to accelerate the growth and investment in the city while preserving the heritage and promoting sustainable development in the city.”
Mr. Reddy further added “The proactive government policies have ensured a 360o growth across the city, preventing congestion in one area while the other parts lag behind. North Hyderabad is known for its e-commerce warehouses, Medical Devices Park and ‘Genome Valley,’ – a hub for life sciences and medical research. To highlight this region, that has a vast array of real estate projects, we’re hosting a property show in North Hyderabad from August 9th to 11th, 2024, and anticipate a strong response.”
Adding to this Mr. N. Jaideep Reddy, President-elect of CREDAI Hyderabad, said, “A city’s real estate growth hinges on government policies that promote industrial and infrastructure development. Under the proactive leadership of Hon’ble Chief Minister Shri A. Revanth Reddy, sustainable growth is encouraged, and future bottlenecks are addressed. His efforts to acquire defence lands for elevated corridors will significantly boost the Northern part of the city and drive real estate growth. Hyderabad remains a global business hub, attracting MNCs and fostering a vibrant local entrepreneurship ecosystem. The CREDAIbility property show, from August 9th to 11th, will showcase how premium housing now incorporates smart home technologies and eco-friendly features, aligning with the modern buyer’s expectations in North Hyderabad.”
According to Mr. B. Jagannath Rao, Secretary of CREDAI Hyderabad, “To ensure 360o growth across the city, industrial corridors are spread across Core Urban Region (CUR) of Hyderabad. North corridor has benefitted from this. To elevate this region to the level of the west, the tallest IT Tower at Kandlakoya, capable of hosting 100 companies and employing 50,000 people, is being built. This region is also a hub for bio-medical R&D, with over 200 companies and 15,000 employees, including global giants like Novartis and GlaxoSmithKline. The Hyderabad-Nagpur Industrial Corridor (HNIC) will further accelerate growth, driving up demand for housing.”
“North Hyderabad has seen a 179% increase in units sold in H1 CY24 as compared to H1 CY19, with a 23% CAGR in the total value of sales. Properties priced between ₹1-2 Cr saw a 264% surge, while those under ₹1 Cr grew by 128%. Even the ₹2 Cr – 5 Cr segment saw a 157% increase in sales. The average unit value in H1 CY24 has risen by 35% from H1 CY19 to ₹1 Cr. These trends show a significant spike in demand and property values in North Hyderabad. With further price increases expected, now is the time for homebuyers to explore the #CREDAIbility property show at Sree Convention Centre, Kompally, from 9th to 11th August 2024, and secure their dream home before prices soar.”
Snapshot of Hyderabad Real Estate
Hyderabad Housing Report by CREDAI Hyderabad in association with CRE Matrix: July 2024:
- The Hyderabad Real Estate market has experienced a substantial Compounded Annual Growth Rate (CAGR) of 29% in total value of unit sales from H1-CY19 to H1-CY24
- Rs.58,841 Cr. is the Total Value of homes sold in Hyderabad for H1 – CY24 – Highest ever yearly sales value
- Rs. 1.5 Cr is avg. value of flat sold in the city for H1- CY24 which is up by 44% vs H1-CY19 whereas Rs. 1 Cr is avg. value of flat sold in North Hyderabad.
- Maximum sales in Hyderabad for properties in price segment of less than Rs. 7000/sq ft. However, customers prefer larger flats as compared to other metros
- Hyderabad Registered a 449% growth in segment of Rs. 5 – 10 Cr. Valued at Rs. 7,427 Cr. in H1 CY24