National Housing Bank’s 2024 Report on Housing Trends in India
13 MAR 2025
National Housing Bank (NHB), a statutory body under the Government of India has released the Report on Trend and Progress of Housing in India, 2024 pursuant to provisions of Section 42 of National Housing Bank Act, 1987.
The report broadly covers the housing scenario and house price movements, flagship programmes of GoI on housing sector, role of Primary Lending Institutions (PLIs) in providing housing credit, performance of Housing Finance Companies (HFCs) and outlook for the sector.
Key highlights are:
- Individual housing loans outstanding as on 30-09-2024 stood at ₹33.53 lakh crore, showing growth of 14% over the corresponding period of previous year.
- As on 30-09-2024, EWS & LIG accounted for 39%, MIG accounted for 44% and HIG accounted for 17% of outstanding individual housing loans.
- Individual housing loan disbursements during half year ended 30-09-2024 were ₹4.10 lakh crore while disbursements during the year ended 31-03-2024 were ₹9.07 lakh crore.
- For the quarter ended September 2024, the Housing Price Index (NHB-RESIDEX) recorded y-o-y increase of 6.8% as compared to 4.9% during previous year.
- Major initiatives of GoI, such as PMAY-G, PMAY-U, impact assessment of PMAY-U, Urban Infrastructure Development Fund (UIDF), Affordable Rental Housing Complexes (ARHC) scheme, etc. have been covered in the report.
- The report identifies regional disparities in credit flow and vulnerability to climate related risks, as some of the key challenges to be addressed by the sector. It also identifies technological advancements in construction, digitization of land records etc. as some of the factors which will facilitate growth opportunities for the sector.
Outlook for the housing sector remains promising, driven by budget announcements on PMAY 2.0, urbanization, transit-oriented development, digitization and other factors.
Commenting on the report, Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd., said,”The NHB report reinforces what we’ve been seeing in the market—the mid-income group (MIG) is becoming the backbone of the housing sector, making up 44% of outstanding individual housing loans. This segment is growing rapidly, driven by urbanization, increasing incomes, and supportive government policies, reflecting a strong desire for homeownership. Middle-income buyers are looking for well-designed homes in prime locations that offer a balance of quality and convenience. This trend is expected to continue in the coming months, further strengthening the sector. At Signature Global, we remain committed to catering to this evolving demand by delivering thoughtfully planned, high-quality homes that align with modern lifestyles.”
Mr. Ashok Kapur, Chairman, Krishna Group and Krisumi Corporation, said, “India’s housing sector is on a strong growth path, fueled by rising homeownership aspirations, rapid urban expansion, and supportive policies. The National Housing Bank’s report highlights this momentum, with individual housing loans increasing by 14% and home prices continuing their steady rise. Government initiatives like PMAY and infrastructure-driven development are further shaping demand across segments, making homeownership more accessible. As cities grow, homebuyers are prioritizing well-planned, well-connected communities that enhance their lifestyle and long-term investment value. This trend is expected to continue, with evolving buyer preferences driving demand for homes that offer a blend of quality, convenience, and future-ready design.”
Aster DM Healthcare Promoters Reduce Share Pledge Drastically, Enhancing Market ConfidenceAster DM Healthcare Promoters Reduce Share Pledge Drastically, Enhancing Market Confidence
Bengaluru, March 13, 2025: In line with the stated strategy, the promoters of Aster DM Healthcare have successfully reduced their share pledge from 99% to 41% after completing a debt refinancing transaction from top-tier global financial institutions.
As part of the refinancing process, the new reputed lenders – JP Morgan, HSBC, and Barclays provided fresh funding, enabling Aster DM Healthcare promoters to refinance its existing loans at better terms as well as loan-to-value (LTV).
Dr. Azad Moopen, Founder and Chairman of Aster DM Healthcare, said, “The reduction in Aster’s pledged shares is a significant testament to our financial strength as promoters, especially in light of the volatile global market conditions. It reflects the strong confidence we have in our company’s growth trajectory, operational excellence, and strategic direction. This milestone also reinforces trust among our stakeholders, investors, and partners as we continue to expand our footprint in India.”
FlowerAura Launches ‘Aura-Ganic Holi’ Celebration
Wednesday 13th March, This Holi, FlowerAura is bringing a deeper meaning to the festival of colours with its ‘Aura-Ganic Holi’ initiative— an eco-conscious celebration that not only spreads joy but also supports local communities and protects nature.
With a thoughtfully curated range of natural Gulaal made from temple flowers, festive cakes, vibrant hampers, and more, FlowerAura encourages everyone to celebrate responsibly, embracing colours that are as pure as the bonds they represent.
The collection features natural Gulaal made from flowers collected from temples, ensuring that these sacred blooms find a new purpose rather than being discarded as waste. This initiative directly supports Self Help Group full of local artisans and communities, who meticulously craft these colours, turning devotion into an opportunity for sustainable living.
“At its core, Holi is about spreading joy, and what better way to do that than by ensuring our celebrations contribute positively to society?” said Shrey Sehgal, Co-founder of FlowerAura. “By repurposing temple flowers into natural colours, we are not only making Holi safer for people and the environment but also creating livelihood opportunities for artisans who put their hearts into making these hues come alive.”
The collection extends beyond colours to include specially crafted Holi-themed cakes, thoughtfully curated hampers, and gifts—each designed to add a special touch to the celebrations. Whether it’s indulging in a delicious cake infused with festive flavours or gifting a hamper filled with handpicked Holi essentials, FlowerAura ensures that every moment is meaningful and memorable.
FlowerAura invites everyone to celebrate Holi in a way that is kinder to the planet and supportive of communities. This year, let every splash of colour not just paint faces but also brighten lives—because true celebration lies in spreading happiness, responsibly.
Will Chaina’s Secret Be Exposed Major Twist in ‘Badi Haveli Ki Chhoti Thakurain’
Shemaroo Umang’s popular show Badi Haveli Ki Chhoti Thakurain is set to bring yet another high-voltage drama, keeping audiences glued to their screens. The latest twist revolves around Chaina, played by Diksha Dhami, who had entered the Badi Haveli as Chhoti Thakurain at the request of Dadi and Maa to protect them from Chamkili’s (Ishita Ganguly) vicious plans. However, she chose to keep this truth hidden from her Mama and Mami—a decision that is now about to backfire!
Chamkeeli, who is determined to get Chaina out of her way, has uncovered her secret. In a bold move, she brings Mama and Mami to the haveli, setting the stage for an explosive confrontation. Will Chaina’s lie be exposed, or will she find a way to counter Chamkili’s attack?
Talking about this exciting twist, Diksha Dhami shared, “For any family, their daughter’s marriage is a reason to celebrate. But for Chaina, whose family already holds grudges because of her parents’ past, this news is far from happy. She is known for her ‘jugaadu’ nature, but I doubt she’ll find an easy way out of this mess!”
She further added, “If I pulled a stunt like this in real life, my parents would be really disappointed! And of course, Chaina’s Mama and Mami will be equally upset. The biggest challenge is that Chaina cannot even reveal the real reason behind her marriage—which was done with good intentions to help her family.”
Maha Kumbh Mela Drives ixigo’s Travel Boom – 5.4x Flight, 4x Train & 20x Bus Surge
Mumbai, 13th March 2025: ixigo, India’s leading OTA for the Next Billion Users, reveals a massive surge in travel bookings to Prayagraj during the Maha Kumbh Mela (January 13 – February 26, 2025). Flight bookings witnessed 5.4x YoY demand, with nearby airports in Lucknow and Varanasi witnessing 69% YoY growth. Train bookings saw a 4x YoY rise, while bus bookings saw the highest surge at 20x YoY, underscoring strong demand across all segments for the world’s largest spiritual gathering.
Gen Z & Solo Travelers Drive Historic Travel Boom to Prayagraj for Maha Kumbh 2025
Booking data from ixigo’s bus business, AbhiBus, highlights a surge in young travelers, with those aged 20-25 making up 26% of total bus bookings. Gen Z bus travelers saw a remarkable 20-fold YoY increase during the Kumbh Mela, and 50% of all bus passengers heading to Prayagraj were under 30. Key origin cities contributing to the surge in demand across the ixigo Group included New Delhi, Mumbai, Kanpur, Meerut, Varanasi, Lucknow, Jaipur, Ranchi, and Ayodhya. A significant shift in travel behavior was also observed, as solo travelers dominated train bookings, making up 60% of the total, surpassing group travel.
Speaking on this, Aloke Bajpai, Group CEO, ixigo, said “The Maha Kumbh Mela has spotlighted the rapid rise of spiritual tourism in India, with a remarkable surge in participation from young travelers. Our data shows that Gen Z and millennials are increasingly embracing cultural and religious journeys, making experiential travel the new norm. As faith-based tourism evolves, the future of travel will be driven by seamless multimodal connectivity – ensuring greater accessibility and convenience for a new generation of spiritually inspired explorers.”
Wendor Drives Growth in Smart Retail with High-Tech Vending Machines at AAHAR 2025
New Delhi, 12th March 2025 – Wendor, one of India’s leading smart vending solutions provider, is set to revolutionize the food and beverage industry at AAHAR 2025 with the launch of its innovative vending machines and smart lockers. The company is showcasing its state-of-the-art vending machines and smart lockers at Stall No. 14G-09, Hall No. 14, Bharat Mandapam, New Delhi, which started on 4th March and will continue till 8th March 2025, from 10 a.m. onwards. With a focus on affordability, speed, and advanced technology, the new machines will demonstrate innovative use cases for brands across industries, from beverages and personal care to toys and frozen food.
The company’s AI-driven vending machines which are World’s first AI based vending machine and smart lockers are designed to enhance operational efficiency while meeting the evolving needs of modern retail spaces, corporate offices, and public locations.
Lakshit Anand, Co-Founder & CEO of Wendor, said, “Our mission is to make vending solutions, smarter, faster, and more accessible. At Wendor, we believe technology should maximize everyday convenience, and the essence of technology is not only about vending; it believes in transforming the experience of accessing any product without hassles. We contribute smart automation to create an intelligent and seamless retail experience, thereby catering to the modern consumers with their evolving needs. AAHAR 2025 will be the perfect plan to introduce these innovations; we’re very excited to bring the future of automated retail.”
Wendor is launching a groundbreaking vending machine, ‘Phoenix’, India’s fastest beverage vending machine. Inspired by vending technology used in Japan, this vending machines ensures rapid dispensing and unparalleled efficiency for high-traffic locations. This high capacity and power efficient vending machine is designed to cater to the growing demand for quick, hassle-free beverage dispensing in areas such as metro stations, corporate offices, and public spaces. As India’s only no-fizz vending machine, it guarantees a smooth beverage experience, making it an ideal solution for businesses and public infrastructure. Wendor has already secured its first sale to a leading beverage brand, marking a significant milestone in the industry.
Also debuting at AAHAR 2025 is ‘Orion’ designed to be the most affordable in India. Orion will no longer utilize built-in touch screens like most vending machines but will now focus on expediting the user interface by integrating it on mobile devices. Customers scan a QR code, open a web interface to select their product, and pay seamlessly via Google Pay or other UPI methods. Available in both ambient and refrigerated models, the company is giving special launch offer at AAHAR. The ambient version is priced competitively at ₹79,999 (excluding GST) and ₹99,999 (excluding GST) for the refrigerated variant, valid only if bookings are made during event.
In addition to vending machines, Wendor is unveiling three new smart locker solutions ‘Apollo Series’ with new features at event:
Vending Locker – The newly launched vending locker is designed to accommodate products that may not fit within traditional vending machines due to their shape or size. Products of transitionally smaller sizes such as soft toys and board games can access vending lockers while allowing brands a unique opportunity to sell unconventional products via an automatic stock delivery mechanism.
Luggage Locker – Designed for locations like temples and gurudwaras (for shoe storage), factories (for phone submission), cinemas, amusement parks, supermarket, museum and malls, this locker offers three access methods: face recognition, mobile-based key entry, and a unique pickup code. It ensures safe and secure storage for customer belongings.
Delivery Pickup Locker – Delivery Pickup Locker provides a contact-less delivery solution for all last-mile deliveries for services like Zomato, Amazon, and Blinkit. This innovation is largely beneficial for quick commerce and is the most preferred and efficient locker used in China in restaurants, residential complexes, and office buildings.
Along with the new launches, the company is also demonstrating diverse vending solutions including Ice Cream Vending Machines, designed to dispense frozen treats with precision and efficiency. Wendor will showcase diversified automated retail solutions to different product categories to provide seamless and innovative consumer experiences. With these latest innovations, Wendor continues to set new benchmarks in automated retail, providing businesses with efficient, cost-effective, and tech-driven solutions.
Specialty Films Sector in Thailand Grows with New Capacity Boost
March 12, 2025:With the mechanical completion of new production lines at the Map Ta Phut Industrial Park in Thailand, Covestro has further increased its global capacity for polycarbonate (PC) specialty films. The investment is in the higher double-digit million Euro range, the project has been completed on schedule. A total of around 40 new jobs will be created.
“The new production facilities are equipped with state-of-the technology to enable an efficient production and thereby reduce our CO2 emissions,” says Thorsten Dreier, Chief Technology Officer of Covestro. “With the expanded capacity, we can meet our customers’ growing demand for innovative specialty films, especially in medical technology, in the region Asia-Pacific and strengthen our Solutions & Specialties segment.”
Covestro has been operating a production facility for Specialty Films in Thailand since 2007. The range comprises polycarbonate films from the Makrofol® range and Bayfol® products made from polycarbonate blends. These high-performance specialty films are used in many applications across multiple industries, such as healthcare, mobility and Identification Documents.
“The new production facilities are important to us because it enables faster time to market and at the same time expands our market access in Asia-Pacific.” says Aukje Doornbos, Global Head of the Specialty Films business entity. “With market- focused innovations and a stronger customer orientation we want to drive growth for Covestro.”
Since 2022, the Map Ta Phut site is ISCC PLUS certified, enabling it to manufacture and supply mass-balanced products. With the mass balance approach, bio-based or recycled raw materials are fed in at an early stage of raw material extraction and mathematically allocated to the finished products. This saves fossil raw materials and reduces CO2 emissions, while the quality of the mass-balanced products remains identical to that of purely fossil-based products. With this drop-in solution, manufacturers can continue to use their proven formulations, equipment, and processes.
ISCC is an internationally recognized sustainability certification for biomass and bioenergy. The standard covers all stages of the value chain and is used worldwide. Customers can use these products in their established processes and apply them to meet their sustainability goals. In addition, Covestro already offers a range of films made partly with plant-based raw materials or partly from recycled plastics
VES Technothon 2025 Marks a Strong Success, Driving Future Innovations
Mumbai, 12th March 2025: Vivekanand Education Society’s Polytechnic College (VESP) proudly hosted VES Technothon 2025, Maharashtra’s premier 24-hour state-level hackathon for diploma engineers, on March 1st and 2nd, 2025. The Technothon was part of Shri Hashu Ji Advani’s Centenary Celebration and was organized in collaboration with the VESP Alumni Association, Institution Innovation Council (IIC) Cell, and HABIT Foundation Incubation Centre, VES. The event brought together top talent from nine districts to foster innovation, problem-solving, and industry collaboration. Out of 125 registered teams, 32 finalists competed in an intense 24-hour development challenge, culminating in a Final Evaluation Round and a grand ceremony.
The event was inaugurated by esteemed industry leaders, including Shri. Umesh Nagdeve, Secretary, MSBTE; Shri. Jiten Saheta, Director Operations, Connectwell; Shri. Manas Phadnis, VP – Projects & Business Development, VEGA India, and Shri. Umesh Rathod, Innovation Manager, AICTE. Participants showcased exceptional technical expertise and creativity, with standout teams from VES Polytechnic, SVKM’s SBM Polytechnic College, K.J. Somaiya Polytechnic, Government Polytechnic Mumbai, VPM Polytechnic, and Government Polytechnic Pune receiving top honors. The competition featured a ₹1.10 Lakh prize pool, rewarding the most innovative and problem-solving minds. The event was supported by Connectwell Industries Pvt. Ltd. as the Title Sponsor, with VEGA India Level and Pressure Measurement Pvt. Ltd. as the Powered-by Sponsor. PearlQuest joined as the Gaming Partner, while 39 Solutions served as the Knowledge Partner. Additionally, Hindustan Petroleum Corporation Limited and Veloce Nxtgen contributed as Associate Sponsors, ensuring a dynamic and well-supported event.
Speaking on the occasion, Vikrant Joshi, Principal of Vivekanand Education Society’s Polytechnic College said, “VES Technothon 2025 is a testament to the incredible potential of diploma engineers. This event not only fosters technical brilliance enhances teamwork, and real-world industry exposure. The enthusiastic participation and strong industry collaborations reinforce our commitment to nurturing the next generation of innovators and entrepreneurs. We look forward to scaling this initiative to greater heights in the coming years.”
With its growing impact, VES Technothon continues to evolve as a catalyst for innovation and engineering excellence, further solidifying VESP’s mission to foster technical talent and entrepreneurial spirit
Rosatom’s Mechanical Engineers Spearhead Reactor Vessel Assembly for Icebreaker Leningrad
Moscow, 12th March 2025 – On March 11, 2025, ZiO-Podolsk JSC (a company of Rosatom’s Mechanical Engineering Division) along with the start of the flange machining operations started assembling the RITM-200 unit intended for the new-generation universal nuclear icebreaker Leningrad (the keel-laying ceremony was held in 2024 with the participation of Russian President Vladimir Putin). Maxim Tyukavkin, Deputy Head of Rosatom’s Mechanical Engineering Division, and Anton Lebedev, Director General of ZiO-Podolsk JSC, participated in the launch ceremony.
“The Mechanical Engineering Division of Rosatom has launched the mass production of RITM-200 reactor units. This is yet another impressive demonstration of the absolute leadership of our domestic industry. Our technical solutions propel scientific and industrial progress, while also facilitating the fulfillment of tasks of national importance. Our successful history of manufacturing and operating the cutting-edge RITM reactor units provides a solid basis for reaching the goals of the Northern Sea Route development and SMR technology promotion,” pointed out Maxim Tyukavkin.