Kolkata, January 13, 2025: In a thought-provoking session exploring the depths of astrology, experts Shalini Modi and Dr. Ridhi Bahl illuminated the audience at Apeejay Kolkata Literary Festival 2025. Moderated by Shobha Tharoor Srinivasan, author and astrologer Shalini Modi shared her journey and personal experiences, including marriage predictions that came true with uncanny accuracy. “The house of marriage or spouse, is also the house partnership. The strength of this house determines the success in marriage and business partnership. Therefore, when marriage is predicted, it includes living in with someone or even finding a partner.,” Shalini added to the topic.

Dr. Bahl, with her rich lineage of astrologers and nearly two decades of professional experience, highlighted the complexity and depth of astrology. “Astrology is wonderful guide which can provide significant insights about personal, professional & financial fronts.”, she said. The session delved into the age-old debate of destiny versus free will, shedding light on astrology’s role as a guide rather than a predetermined script. Dr. Ridhi emphasized, Shalini Modi echoed this sentiment, recounting how astrology had provided meaningful insights to those around her.

The conversation also tackled how astrology evolves with changing times, addressing modern aspects like career decisions and medical treatments. Dr. Ridhi emphasized the importance of adaptability in astrological interpretations, highlighting how classical texts might not address modern concepts like divorce. Today, however, astrologers help couples navigate challenges by suggesting solutions such as medical interventions or adoption. Shalini concluded by noting that astrology’s enduring appeal lies not only in what is written in the stars but in how we interpret and apply it to our lives.

 Anuj Puri, Chairman – ANAROCK Group

As the Union Budget 2025-26 approaches, to be announced in February 2024, the real estate sector is pinning high hopes on the Modi 3.0 regime. Amid declining real estate activity in the second half of CY 2024, the sector anticipates government measures to revive overall consumption.

While tax reliefs and other incentives are standard expectations, the government is likely to maintain its focus on building robust infrastructure across the country. Though infrastructure development may not provide immediate relief to end-users, it remains a key driver for long-term growth in the real estate market.

The upcoming Budget is expected to emphasize maintaining economic stability and fostering growth, especially in light of the uninspiring GDP numbers from the past two quarters. Stimulus measures for SMEs, MSMEs, job creation, and skilling initiatives are anticipated to further propel economic activity.

Revive Affordable Housing

For the real estate sector, key expectations include industry status recognition and a revival of the affordable housing segment. Once a promising sector, affordable housing—homes priced under INR 40 lakh—has struggled post-pandemic, with demand and supply shrinking significantly. According to ANAROCK data, the sales share of affordable housing fell to a mere 18% in 2024 from over 38% in 2019. Similarly, its share of total housing supply in the top seven cities dropped to 16% in 2024 from nearly 40% in 2019.

This stark decline highlights the urgent need for intervention. Affordable housing requires focused attention and targeted benefits, which have been lacking in the past two years. Tax breaks to boost supply and enable buyers are crucial, but the challenges go deeper. A critical issue remains the lack of urban land, particularly in areas where affordable housing is most needed.

To address this, the government could release centrally controlled land—managed by agencies like the Indian Railways, Port Trusts, and the Department of Heavy Industries—for affordable housing projects. Additionally, the following measures are essential:

1. Reintroduce the Credit-Linked Subsidy Scheme under PMAY
   The scheme for EWS/LIG households, which expired in 2022, should be reinstated to incentivize first-time buyers of affordable homes. It could also extend to loans for new construction or adding essential features like rooms, kitchens, or toilets to existing properties. Under PMAY (Rural), subsidies could help convert ‘kaccha’ homes into ‘pucca’ ones, provided eligibility criteria are met.
2. Restore the 100% Tax Holiday for Developers
   The tax holiday under Section 80-IBA of the Finance Act, 2016, was a major incentive that boosted affordable housing supply. Reintroducing this benefit could be transformative, offering substantial tax breaks to developers focused on affordable housing projects.
3. Revise Affordable Housing Criteria
   Current definitions of affordable housing, based on size, price, and buyer income, require urgent revision. While the size criterion (60 sq. m. carpet area) is reasonable, the price cap of INR 45 lakh is unrealistic in high-cost cities like Mumbai. The cap should be raised to at least INR 85 lakh in Mumbai and INR 60-65 lakh in other metro cities to reflect market realities. Such revisions would enable more properties to qualify as affordable housing, granting buyers access to lower GST rates (1% without ITC) and other subsidies.

CY 2024 saw a slowdown in real estate due to general and state elections, with housing sales in the top seven cities declining by 4% to approximately 4.46 lakh units and new launches dropping by 7% to around 4.13 lakh units, as per ANAROCK research. However, with appropriate boosters for affordable housing, CY 2025 could bring a revival, helping the residential segment regain its 2023 highs in sales and launches.

Mumbai, 17th December 2024: Piramal Realty proudly announces two key milestones for its iconic project Piramal Aranya in Byculla – the delivery of its first two towers in South Mumbai, Avyan and Arav. The delivery of these two iconic towers with over 700 residences has set a new benchmark for luxury living in South Mumbai.

Tower Avyan features 2-4 bed luxury residences while Arav tower offers a range of 2-5 bed homes, seamlessly blending privacy with a vibrant community living experience. Furthermore, Arav being the tallest tower of Byculla with 72 habitable floors and rising 282 meters above the ground stands as a testament to modern architectural sophistication. Designed by Studio HBA London, Arav Tower’s stunning double-height lobby sets a new standard for contemporary design and elegance. Residents of both the towers will enjoy expansive views of the eastern harbour and 60 acres of the lush Rani Baug botanical gardens underscoring Piramal Realty’s commitment to providing serene, high-quality living spaces.

“The completion of Avyan and Arav, two architectural masterpieces reshaping South Mumbai’s skyline, represents a proud milestone for Piramal Realty. Recognizing the demand for premium residences in Byculla, we designed living spaces that combine unmatched luxury with open spaces, breath-taking views, and excellent connectivity. From the tallest tower in Byculla, residents can enjoy some of the most spectacular views of South Mumbai. The overwhelming response to both towers reaffirms our vision of delivering a luxurious living experience in Byculla,” said Mr. Abhijeet Maheshwari, CEO of Piramal Realty.

The connectivity enhancements around South Mumbai have only added to Aranya’s appeal. Additionally, the 21.8 km Atal Setu sea bridge, located just ten minutes from Piramal Aranya, significantly cuts travel time between Mumbai and Navi Mumbai to a mere 20 minutes. Infrastructure projects such as the Coastal Road Extension, Sewri-Worli Elevated Corridor, and Eastern Freeway are further enhancing Byculla’s connectivity, transforming it into a prime lifestyle destination. These advancements enable residents of Piramal Aranya to effortlessly commute to key locations like Nariman Point, Mahalaxmi Racecourse in South Mumbai, and Navi Mumbai.

Piramal Aranya has been meticulously built with renowned global partners, including ‘L&T’ for construction & ‘HBA’ and ‘Make Architects’ from London for interior design and architecture. The project features over 100,000 sq. ft. of resort-style amenities where residents enjoy double-height lobbies, rooftop observatory decks, state-of-the-art fitness centres with Technogym equipment, multi-sport courts and tranquil libraries. The towers’ facade takes inspiration from Byculla’s architectural heritage, honouring the area’s legacy while setting new architectural standards. Thoughtfully designed L-shaped windows and dual-aspect apartments capture these panoramas, offering residents an exceptional connection to nature and city life.

Keeping nature at the core of its design, Aranya which translates to ‘Forests’ in Sanskrit, was conceptualised to create homes in complete harmony with nature. Aranya seamlessly converges modern architecture with Byculla’s unique locale while co-existing with its natural elements.