Strategic Partnership Between HDFC Securities and KFin Technologies to Boost NPS Adoption

Mumbai, January 28, 2025 – HDFC securities, a leading stock broking company, and a wholly owned subsidiary of HDFC Bank, announced a strategic partnership with KFin Technologies Limited (KFintech), one of the largest Central Recordkeeping Agencies (CRAs) in the country, to enhance the accessibility and adoption of National Pension System (NPS) amongst its subscribers. HDFC Securities has an extensive network of over 3.5 lakh subscribers and over 2700 corporate clients.

CRAs are crucial to the NPS ecosystem, providing centralized management of subscriber records, ensuring transparency, and streamlining account management. It enables subscribers to track contributions, monitor investments, and make changes easily. KFintech’s CRA platform offers several innovative features designed to enhance user experience and security, with subscribers benefiting from flexible transaction statement downloads across any date range, and real-time SMS notifications for all contribution modes. The platform combines enhanced security features like dual-factor authentication through password and SMS OTP with dedicated portals for subscribers, complemented by WhatsApp services and a missed call facility for easier access.

Commenting on the partnership, Mr. Dhiraj Relli, MD & CEO, HDFC securities, said, “We’re excited to partner with KFintech to enhance our service offerings. This collaboration will enable us to provide our subscribers and corporate clients with a superior technological platform for NPS management. The timing couldn’t have been better, as we’re seeing increased interest in Corporate NPS following the enhanced tax benefits, and typically, these are the initial months of the year.”

“KFintech has demonstrated its technological leadership in the industry by contributing to 47% of new registrations growth, the highest among CRAs. This partnership will leverage the technological advantage to streamline the onboarding process and enhance the user experience for our new subscribers and corporate clients. Together with KFintech, we’re well-positioned to drive greater pension penetration in the corporate sector.” added, Mr. Relli.

Sreekanth Nadella, MD & CEO at KFin Technologies, said, “The rapid digitization of financial services has created a unique opportunity to reshape the pension landscape in India. As part of our commitment to democratizing pension coverage across the country, this partnership with HDFC securities marks a transformative step forward. By leveraging our comprehensive digital solutions, combined with HDFC securities’ robust corporate network, we aim to create a powerful synergy that will significantly enhance access to NPS across the country.”

The partnership comes at an opportune time as the Government of India has recently enhanced tax benefits under corporate NPS from 10% to 14% of basic income, driving increased interest in the corporate NPS market. Currently, with only 18,700 corporations registered under Corporate NPS and 21.6 lakh subscribers, there is substantial growth potential in this segment.

V-Marc India Limited Enters Kerala Market with New Range of Wire & Cable Products

Kochi, 28th January, 2025: V-Marc India Limited, a leading manufacturer of wires and cables in India, announces its expansion plans in Kerala. Known for its embrace of technology and innovation, Kerala is a key market for V-Marc to introduce its latest range of advanced wire and cable solutions. The launch of new products Flexi-TUF eB-HFFR Wires and eB+ Power Cables, developed through extensive research and powered by electron beam (eBeam) technology, was also held in the launch conference in Kochi.

“V-Marc is the fastest-growing wire and cable company in India. As a public-listed company, our goal is to deliver the best results for our customers and stakeholders while expanding our product portfolio by creating new business verticals. Our expansion into Kerala and the launch of our latest eBeam technology-based products aligns with India’s growing focus on renewable energy and energy efficiency,” said Mr. Deepak Tikle, Executive Director, V-Marc India Ltd.

The Flexi-TUF eB-HFFR Wires and eB+ Power Cables feature a unique insulation material, developed by V-Marc, that replaces hazardous PVC with XLPO-based polymer. These innovative solutions offer 80% higher current-carrying capacity, a service life exceeding 60 years, the ability to withstand working temperatures up to 150°C, and robust protection against short circuits. This eco-friendly insulation prevents chlorine emissions during fire incidents, significantly reducing the risk of suffocation. The advanced technology used in these products is already well-established in Europe, the US, and Southeast Asia.

“The company believes in partnering with dealers and distributors as a core strategy to drive its business growth across India, said Mr. A. N. Ramesh Kumar, Vice President, Sales & Marketing, V-Marc India Ltd.

V-Marc’s comprehensive product range caters to various sectors, including residential, commercial, healthcare, industrial, and infrastructure projects. V-Marc is involved in and growing exponentially across various business verticals, including MVCC (Medium Voltage Covered Conductor) and accessories, instrumentation and control cables, automotive wires and harnesses, switches, MCBs, and appliances such as fans and geysers.

PropEquity Highlights 36% Fall in Supply of Affordable Homes in India’s 9 Cities

New Delhi, January 28, 2025: India’s top nine cities, where majority of Indians migrate for jobs, is staring at a housing crisis. As developers shift focus to luxury housing, the supply of homes in the affordable and mid-income category (priced Rs 1 crore and below) has dipped by 36% in the last two years, from 3,10,216 units in 2022 to 1,98,926 units in 2024 with NCR, Mumbai and Hyderabad as worst performers, said a report by NSE-listed real estate data analytics firm PropEquity.

The housing supply in the affordable and mid-income category stood at 2,83,323 units in 2023, a drop of 30% in one year.

The top nine cities are Bengaluru, Chennai, Hyderabad, Mumbai, Pune, Thane, Navi Mumbai, Kolkata and NCR.

According to the report, in the last two years, the supply of homes priced Rs 1 crore and below have fallen by 69% to 13238 units in Hyderabad. During the same period, the supply of homes priced Rs 1 crore and below has dipped by 60% to 6062 units in Mumbai and by 45% to 2672 units in NCR.

NCR followed by Mumbai supplied the least number of homes in this category. The total supply in NCR stood at 45503 units with only 2672 units supplied in Rs 1 crore and below category while total supply in Mumbai stood at 40,963 units with only 6062 units supplied in this category.

Samir Jasuja, Founder and CEO, PropEquity said, “Today, 8% of India’s population live in tier 1 cities and this number is expected to grow exponentially in the next five years as more people move to these cities for employment opportunities. The lack of supply in this category, if not attended to in time by the Government, will lead to a housing crisis akin to Australia and Canada.”

“In view of rising migration and growing number of nuclear families, it is estimated that 1.5 cr homes would be required in these cities in the next five years.

“To address this problem, the Government must not just incentivise developers through tax cuts and subsidies in order to make affordable and mid-income housing a viable option but also provide benefits to homebuyers in the form of home loan rebates, stamp duty cuts etc.”

  2022 (Units) 2023 (Units) 2024 (Units) % change (2024vs2023) % change (2024vs2022)
Bengaluru 37252 28206 25012 -11% -33%
Chennai 14575 13852 12743 -8% -13%
Hyderabad 42747 31645 13238 -58% -69%
Kolkata 10082 18406 10785 -41% 7%
Mumbai 15042 8763 6062 -31% -60%
Navi Mumbai 22675 23584 21290 -10% -6%
Thane 89687 78885 57029 -28% -36%
Pune 73289 75256 50095 -33% -32%
NCR 4867 4726 2672 -43% -45%
Total 310216 283323 198926 -30% -36%

City-wise performance (Supply of homes in Rs 1 crore and below category):

Bengaluru: Housing supply stood at 25012 units in 2024, decline of 33% in two years and 11% in one year.

Chennai: Housing supply stood 12743 units in 2024, a decline of 13% in two years and 8% in one year.

Hyderabad: Housing supply stood at 13238 units in 2024, a decline of 69% in two years and 58% in one year.

Kolkata: Housing supply stood at 10785 units in 2024, a rise of 7% in two years and decline of 41% in one year.

Mumbai: At 6062 units in 2024, the city saw the second least number of units supplied, registering a decline of 60% in two years and 31% in one year.

Navi Mumbai: Housing supply stood at 21290 units in 2024, a decline of 6% in two years and 10% in one year.

Thane: At 57029 units in 2024, the city witnessed the highest supply amongst top nine cities. However, this is a decline of 36% in two years and 28% in one year.

Pune: At 50095 units in 2024, the city saw the second highest supply amongst top nine cities. However, this is a decline of 32% in two years and 33% in one year.

NCR: At 2672 units in 2024, NCR witnessed the least number of units supplied amongst top nine cities; registering a decline of 45% in two years and 43% in one year.

In contrast, the supply of homes priced Rs 1 crore and above have risen by 48% in the last two years in top nine cities with Bengaluru rising by 187%, Chennai by 127%, Kolkata 58%, Navi Mumbai 70%, Thane 53%, Pune 52% and Delhi-NCR 192%. However, Hyderabad and Mumbai saw a decline of 11% and 14% respectively in the last two years.

UnaCash Shares Essential Reminders to Protect Your Personal Data

Manila, Philippines | January 2025 – As fintech adoption continues to rise in the Philippines, financial services increasingly serve a role in addressing vulnerabilities and safeguarding information in the evolving digital landscape.

Data breaches, fraud, and identity theft are amongst these  significant challenges, especially in a digital environment where artificial intelligence (AI) plays a growing role in the digital ecosystem. Amid this rapid digital advancement, there is a rising concern on data protection and application of security measures. Survey data released by Statista in 2024 revealed that 50% of respondents reported being targeted by phishing attacks, while 42% encountered smishing, a type of fraud scheme carried out through text messages.

Considering this, and as the global business landscape commemorates Data Privacy Day on January 28, a heightened awareness to combat these challenges and a recurring prompt highlighting the importance of taking proactive measures in safeguarding personal data are necessary

Moreover, financial services are the bearer of not only offering secure platforms, but also educating consumers on how to manage good financial hygiene. UnaCash takes a proactive approach by integrating both. The focus is to empower consumers to actively seek steps on understanding digital risks and become vigilant against potential threats, all the while learning how to choose a platform that demonstrates a commitment to security.

Here are detailed recommendations from UnaCash to support Filipino consumers on the best practices for safeguarding personal data.

Use strong and unique passwords.  One of the most effective ways to protect online accounts is by using strong, unique passwords. Ensure that the corresponding accounts per platform uses a different password to guarantee that they are individually protected.

Enable two-factor authentication. Make sure to enable the two-factor authentication (2FA) on your financial apps and online accounts to add an extra layer of security. The second verification step, such as a one-time password (OTP) sent to your mobile device or email, helps reduce the chances of unauthorized access for the account.

Learn to identify and beware of phishing scams. Phishing scams are one of the most common ways where personal information is obtained illegally. These can appear as emails, social media posts, or SMS messages from seemingly legitimate companies. Always double-check the source of any communication and avoid clicking unfamiliar links. Upon receiving one, you can immediately visit the official website of the company or inform their customer service to verify its authenticity.

Make regular updates on your software and apps. Updates ensure that security vulnerabilities are mitigated against potential hacking attempts. These updates often contain important security patches that can help you protect your data against emerging threats and keep your digital environment secure.

Always monitor personal transactions. Track transaction histories for any unusual activity or discrepancies. For unauthorized changes, immediately report to the service provider to ensure that the account remains protected from fraud.

“We have witnessed the digital landscape rapidly evolve in recent years. Financial solutions like us advocate consistently on educating consumers on how to practice good financial hygiene, and of course, navigate the digital space safely,” said Sean Plantado, channel manager of UnaCash. “We want our customers to be better equipped to safeguard their personal information, regardless of what platform they are using.”

The Commitment to Secure Data by UnaCash

Consumers belonging in the GenZ bracket are increasingly entering the marketplace, highlighting the need for robust data protection since this generation is a significant player in the retail space. Statista indicates that vulnerabilities can impact individuals as early as 18 years of age, matching the analysis from UnaCash where 23 million working-age individuals in Southeast Asia will be poised as primary contributors in the digital economy by 2030. With this emerging consumer base, the financial services reinforces its mission to provide a secure and informed financial platform for its client-base.

Below is a list of simple practices of UnaCash to promote data privacy protection:

  • Advanced security features. Integration of encryption, a multi-layer authentication, and a dedicated fraud detection team to ensure that user data remains protected against cyber threats. 

  • Continuous consumer education. The data source and storage is found only in the UnaCash app, which consumers are responsible when it comes to and encourages users to generate a pin to open their account apart from the one-time password (OTP) authentication process.

  • Responsive support. A dedicated customer support team ensures that users have access to timely assistance, be it in the physical store or through the UnaCash communication channels. This applies to suspicious activity or even resolving account concerns, a swift and effective support is being prioritized.

  • Compliance on data privacy security measures. UnaCash is compliant with the NPC, adhering to the Data Privacy Act of 2012 and is continuously implementing data protection protocols. There are consistent security assessments to uphold the transparency and accountability in handling every customer’s data. Alongside this, UnaCash never stores application details physically or digitally through any other platform aside from its app to protect its overall storage location.

“It is important to highlight that awareness on financial security goes hand-in-hand with the broader goal of protecting personal data. A financially literate consumer is most likely to use secure platforms, easily identify risks, and take proactive steps to protect their respective data. UnaCash remains committed to fostering a culture of security and trust, ensuring that Filipino customers are confident with their financial journey without compromising their personal information in the digital space,” Plantado concluded.

IIHMR University Hosts Orientation for NSS Volunteers to Empower Youth

Jaipur, 28th January 2025:IIHMR University, a leading health management research university, successfully conducted an Orientation Program for the National Service Scheme (NSS). The program witnessed enthusiastic participation from over 60 volunteers who pledged to dedicate their time and energy toward NSS activities. These initiatives include community service projects aimed at strengthening the fabric of the nation through impactful grassroots work.

The event was graced by Shri S.P. Bhatnagar, Regional Director of NSS, Ministry of Youth Affairs and Sports, Government of India, as the keynote speaker. He provided an insightful orientation to the NSS volunteers, emphasizing the core objectives and functioning of the NSS and its pivotal role in fostering nation-building and the personal development of India’s youth. Shri Bhatnagar also highlighted the profound meaning of the NSS motto, “Not Me But You,” underscoring the spirit of selfless service.

Dr. PR Sodani, President, of IIHMR University, inspired the volunteers to contribute wholeheartedly to nation-building through community service, and shared, “At IIHMR University, we firmly believe in empowering youth to lead transformative change through selfless community service. The National Service Scheme is a powerful platform that instills a sense of responsibility, compassion, and leadership among students. By working with marginalized communities, our volunteers will not only contribute to building a stronger nation but also enrich their personal growth through meaningful experiences. Together, we can make a difference, one step at a time.”

As part of the event, nine students were felicitated for their outstanding contributions in competitions such as quizzes, e-poster designs, and reels conducted on the 150th Birth Anniversary of Shri SardarVallabhbhai Patel and Constitutional Day.

Square Yards growth and profitability surge in Q3 FY2025; on track for a strong finish to financial year

New Delhi, 28th Jan, 2025:  Square Yards, India’s largest integrated real estate platform, today announced its Q3’ FY25 results continuing its upward trajectory, marked by 45% year-on-year (Y-Y) revenue growth and a return to profitability with INR 22cr EBITDA (6% margin). Revenue for the quarter stood at Rs 358.6cr and Gross Transaction Value (GTV) stood at Rs 16,271 Cr, up 54% Y-o-Y. With this, company’s 9M revenue for FY24 now stands at Rs 938.4 Cr up 46% Y-Y.

Tanuj Shori, Founder & CEO of Square Yards, expressed his enthusiasm for the company’s progress: “This would mark our 2nd consecutive year of profitability, and first year of operating cash flow break even. We expect to close at USD 170mn+ revenue for FY that would put us at more than 3x the size of any other proptech platform in the country (and the only profitable platform). It would also entail a ~55% CAGR over the last 4 years. We also expect operating leverage to continue to increase, with next FY to be in the range of 15% EBITDA margins. 

Key Achievements in Q3FY25

Square Yards demonstrated impressive growth across all key metrics in Q3FY25. Gross Transaction Value (GTV) grew by 54% for the quarter and 52% for the first nine months of the fiscal year, driven by a healthy 44% year-on-year increase in the order book. Overall revenue for the 9M FY25 period surged 46% year-on-year, with revenue from the India business growing even faster at 50%. Gross profit for Q3 reached INR 90 crore, representing a 25% gross margin, while EBITDA stood at INR 22 crore, reflecting a 6% margin. Financial services led the company’s growth with a 58% year-on-year jump, supported by fintech platform Urban Money, which is expected to close the year with USD 5.5 billion in GTV. Real estate recorded a 41% year-on-year rise in the order book, and the home renovations platform maintained its upward momentum with over 50% year-on-year growth. With strong fundamentals and diversified growth across its core verticals, the company is well-positioned to maintain its leadership in the proptech industry.

Industry Leaders Share Expectations from Union Budget 2025 Across Key Sectors

28th January 2025: As India eagerly anticipates the Union Budget 2025, industry leaders across the food and beverage, startup, beauty, and sustainable luxury sectors share their expectations and key recommendations for policy reforms that could drive growth and innovation. Addressing sector-specific challenges and introducing progressive measures will be pivotal in shaping a resilient and forward-looking business environment.

Ganesh Sonawane

By – Mr. Ganesh Sonawane, Founder and CEO of Frido

 “India’s startup ecosystem is a thriving hub of innovation, and we hope that the Union Budget 2025 reflects its potential. Startups, particularly those focusing on health-focused innovations, stand to benefit greatly from policies that streamline GST processes, introduce R&D tax incentives, and provide easier access to funding could ignite a wave of innovation, empowering manufacturers and startups to meet the increasing demand for wellness products. Encouraging startups to scale manufacturing for global markets will also be crucial in reinforcing the Make in India for the World initiative. With the right support, entrepreneurs can position India as a global hub for wellness and ergonomic solutions, showcasing the country’s ingenuity and innovation on the world stage.”

Aji Nair -

By – Aji Nair, CEO at Mirah Hospitality

“As we approach the Union Budget 2025, the F&B sector looks forward to measures that address key challenges such as rising food inflation, operational costs, and the intricate tax structures on alcohol and aerated beverages that impact profitability. A progressive framework that fosters innovation, simplifies policies and enables sustainable growth will be pivotal for the industry’s success.

The restaurant sector specifically urges the restoration of the GST Input Tax Credit, which would significantly ease operational expenses and enhance efficiency.
Additionally, revisiting the GST notification on commercial leases under the Reverse Charge Mechanism is essential to reduce financial burdens. With these steps, the sector can focus on innovation, customer experiences, and long-term growth.”

SCINQ - Co-founders

By – Shrishti Yadav and Shubham Godara, Co-founders at SCINQ Neurocosmetics

 “We are optimistic that the 2025 Union Budget will address critical areas like streamlining the GST framework to reduce complexities, particularly for the beauty and skincare industry, where multiple tax slabs create challenges. A more uniform and industry-friendly tax structure would ease operations and lower costs, benefiting both businesses and consumers. Support for the retail and e-commerce sectors through industry-friendly policies would further encourage growth and innovation, creating a more dynamic marketplace. These steps can help Indian beauty and skincare space to reach a broader audience and contribute to the overall growth of the economy.”

Ricky Vasandani

By – Ricky Vasandani, Co-founder and CEO of Solitario

 “As India increasingly embraces sustainable luxury, this year’s Union Budget presents a valuable opportunity to encourage eco-conscious consumption. By fostering an environment that supports sustainable businesses and innovation, particularly in sectors like lab-grown diamonds, we can create a thriving ecosystem for luxury brands. Simplified regulations and forward-thinking policies will enable brands to flourish in an evolving market, helping India strengthen its position as a leader in environmentally responsible luxury while promoting a new era of conscious consumerism.”

DGT MSDE Signs MoU with BITS Pilani to Promote Entrepreneurship Through Incubation Program

New Delhi: In a bid to strengthen industry-academia partnership and promote entrepreneurship and hands-on skilling, the Directorate General of Training (DGT) inked an MoU with the Pilani Innovation & Entrepreneurship Development Society, BITS Pilani, for conducting innovation and incubation programs for NSTI students and make them future-ready. This collaboration is expected to create opportunities for start-ups.

“The collaboration between DGT and PIEDS (Pilani Innovation & Entrepreneurship Development Society) is a transformative step in bridging the gap between education and industry. We aim to combine the academic excellence of BITS Pilani with the robust training and skilling ecosystem of DGT. The aim is to equip youths with practical skills, fostering entrepreneurship and creating a future-ready workforce for the job market,” said Ms. Trishaljit Sethi, Director General Training, Ministry of Skill Development and Entrepreneurship.

The partnership has two major components: The Innovation Challenge and The Open Incubation Program. They nurture the entrepreneurial mindset and help spot talent and sweep up creative thoughts to be successful startups. The Innovation Challenge encourages NSTI trainees and alumni, featuring an Open Track for all participants and a Women NSTI Track that helps women pursue entrepreneurship and fill the gender gap in innovation. The Open Incubation Program is a 6-month grant-based initiative that covers ideation, incubation, mentorship, workshops, and funding to help participants scale their ideas. Projects supported by PIEDS are reviewed at the institute level, zonal level, and DGT level to identify innovations with high potential for recognition and rewards.

“The new trend underscores the value of hands-on training and job-oriented skills given by ITIs and NSTIs, which are known for skilling, practical training, and experienced faculty,” the DGT training said, amid the government setting out Rs. 60,000 crores for five years for overhauling hundreds of ITIs across the country in the last budgetary allocation.

The event observed that engineering students are keen to upskill themselves by joining skill-oriented programs, which indicates demand for job-ready, future-ready skills in the current job market. The partnership between DGT and PIED, BITS aims to integrate industry-relevant skilling into the curriculum and encourage stronger collaboration with industry for on-the-job training and apprenticeship, including dual training systems.

The partnership is set to address a unique phenomenon in India’s education and skill training landscape as the skill ecosystem is set to be overhauled, courtesy of multiple initiatives of the government with the support of the industry. The meet observed a phenomenon of reverse pathway where engineering students, postgraduates, and even diploma holders are enrolling in skilling programs like the Crafts Instructor Training Scheme (CITS) offered by various National Skill Training Institutes.

Prof. Arya Kumar, Dean of Alumni Relations, BITS Pilani, said, “The collaboration between PIEDS and BITS Pilani for promoting competencies and capabilities amongst skilled youth, especially women, will go a long way in giving momentum to the creation of startups, employment, and wealth creation for the nation.”

Head Alumni & PIEDS Society Sachin Arya also played a crucial role in setting up these entrepreneurial pathways for NSTI and ITI students for creation of a supporting excelling ecosystem. The DGT expects leveraging the industry connection and historic reputation of BITs Pilani to further spread awareness about ITIs and NSTIs among the student community and industry stakeholders. The tie-up will also create opportunities for start-ups and entrepreneurial ventures in order to enrich the skilling ecosystem of India.

The initiative aims to align skill training with industry needs by facilitating internships and apprenticeship programs to boost employability. The central government has been taking a slew of steps to make skilling a mass movement, and the recent inaugural QS World Future Skills Index report is a testament to the efforts of the government, which said that India is one of the world’s most-ready job markets to recruit talent skilled in the key areas, such as that of AI, digital, and green technologies.

Greenfield Airports in Smaller Cities Key to Meeting Passenger Demand: Jaideep Mirchandani

Jaideep Mirchandani

Taking the number of international airports in India to 36, two new international airports are set to become operational in 2025. At present, the country has 103 domestic airports and the Union Government has granted an in-principle nod for establishing 21 Greenfield Airports across India. These include facilities at Mopa in Goa, Navi Mumbai, Shirdi, and Sindhudurg in Maharashtra, Kalaburagi, Vijayapura, Hassan, and Shivamogga in Karnataka, Dabra (Gwalior) in Madhya Pradesh, Kushinagar as well as Dholera and Rajkot in Gujarat. Expanding air travel infrastructure to Tier-II and Tier-III cities will not only improve accessibility but also encourage new air carriers to enter the market, intensifying competition and making air travel more affordable.

“We observed that almost a decade ago, India’s economic activity was largely concentrated in a few metropolitan cities. These major cities were the primary contributors to the country’s GDP, with trade and economic activities predominantly centred there. However, this trend has shifted. Growing disposable income among the middle class, rapid adoption of technology, and widespread internet penetration have had a transformative effect on the lives of people in Tier-II and Tier-III cities. As the gap between these cities and metros continues to narrow, focusing on developing airport infrastructure in smaller cities, along with the ongoing emphasis on major urban centres, is the need of the hour,” says Jaideep Mirchandani, group chairman of Sky One.

As per the draft prepared by the Airports Authority of India (AAI), the total number of airports in the country is set to nearly double to 300 by 2047, up from the current 140. This plan involves not only the construction of new airports but also the upgrade of 70 existing airstrips into fully operational airports. Among the greenfield airports planned, 12 have already been operationalized, including Durgapur, Shirdi, Sindhudurg, Pakyong, Kannur, Kalaburagi, Oravakal (Kurnool), Kushinagar, Itanagar, Mopa, Shivamogga and Rajkot.

“The benefits of new airports in Tier-II cities will significantly boost tourism and the economy. They will also help travellers explore their favourite destinations with less travel time, aligning with busy schedules. For example, consider the new Pakyong Airport in Sikkim, located just 31 km from Gangtok. Previously, travellers had to fly to Bagdogra in West Bengal and then continue by road. This new airport greatly enhances both tourism and trade in the region,” adds Mr Mirchandani and concludes, “Most importantly, the expansion of airports in Tier-II and Tier-III cities will reduce stress and congestion at major airports.

India Sotheby’s Survey Highlights Growing Demand for Luxury Real Estate

Luxury Homes

New Delhi, January 28th, 2025— The annual Luxury Residential Outlook Survey 2025 conducted by India Sotheby’s International Realty (ISIR) revealed that confidence in India’s economic growth remains strong, albeit slightly tempered. Optimism has declined from 79% in 2024 to 71% in 2025. Nevertheless, most High-Net-Worth Individuals (HNIs) and Ultra High-Net-Worth Individuals (UHNIs) believe India will continue to be the fastest-growing major economy, with GDP growth projected to hover between 6% and 6.5%.

In the real estate sector, the outlook among UHNIs and HNIs has moderated, with 62% planning to invest in the next 12–24 months compared to 71% in 2024. Despite this slight dip, the steady confidence underscores real estate’s enduring appeal as a wealth-building asset.

HNIs and UHNIs remain primarily motivated by capital appreciation, with 55% citing it as their main reason for investing in luxury residential real estate in 2025, up from 44% in 2024. Nearly half of respondents expect real estate investments to deliver returns between 12% and 18%, while 38% anticipate returns below 12%. Fewer than 15% foresee returns exceeding 18%, reflecting more realistic expectations after three years of strong gains.

Mr. Amit Goyal, MD of India Sotheby’s International Realty, said “As we look ahead to 2025, India’s luxury real estate market is primed for continued growth, though with a more cautious optimism. We believe demand for trophy and bespoke luxury assets, especially spacious farmhouses and gated community villas in hill and beach destinations will be a significant trend in the coming year. Our conviction is driven by the fact that India stands out as a frontrunner, with billionaires here experiencing a staggering 42% surge in collective wealth, now exceeding $905 billion, according to the UBS “Billionaire Ambitions Report.” Over the past decade, India’s billionaire count has more than doubled to 185, with their total wealth tripling. This solidifies India’s position as the third-largest base for billionaires globally, just behind the US and China.”

The survey also highlighted a rising interest in second and holiday homes, with 54% of respondents considering properties in hill or beach destinations. Convenience is a key factor, as 55% prefer homes within a four-hour drive, while only 20% opt for international locations. Among global markets, Dubai has overtaken London as the top choice, with US cities also gaining attention.

While financial assets like equities and commodities remain the most favored, with 54% of respondents prioritizing them, real estate continues to attract 36% of HNIs planning to allocate surplus funds over the next two years. This underscores the value of real estate as a stable, tangible asset amidst market volatility.

With interest rates expected to ease moderately, 71% of respondents anticipate gradual reductions, although 23% remain cautious, citing inflation concerns. As India’s luxury real estate market evolves to meet the needs of affluent individuals and young wealth creators, the property landscape is evolving to offer a dynamic mix of lifestyle upgrades and wealth-generation opportunities.

Mr Ashwin Chadha, CEO of India Sotheby’s International Realty, said: ” The evolution of luxury real estate in India over the past decade has been remarkable. A segment once dominated by self-built bungalows has now added high-rise luxury apartments and gated community villas by renowned developers offering world-class amenities and assured quality to the demand bouquet of the rich and famous. Today, luxury real estate is more than a status symbol; it’s a robust investment avenue.”

The number of Ultra-High-Net-Worth Individuals in India has reached 13,600 in 2024, with projections of a 50% increase by 2028. This rising affluence, coupled with the segment’s resilience as an inflation hedge and its ability to deliver long-term capital appreciation, makes luxury real estate a preferred choice for lifestyle upgrades and wealth creation. Add to this the growing influence of young wealth creators under 40, and it’s clear that luxury real estate is not just growing—it’s defining India’s property landscape.”