New Delhi, October 21, 2024: In line with the trends seen in tier 1 cities, housing sales in top 30 tier 2 cities have fallen by 13% in July-September quarter of 2024 while new launches have declined by 34%, according to a report by NSE-listed real estate data analytics firm PropEquity.

Housing sales fell to 41,871 units in Q3 2024 against 47,985 units in the same period last year while launches fell to 28,980 units in July-September quarter of 2024 from 43,748 units in the same period last year, the report said.

The west zone comprising Ahmedabad, Vadodara, Gandhinagar, Surat, Goa, Nashik and Nagpur, contributed 72% to the total sales.

Commenting on the data, Samir Jasuja, CEO & Founder, PropEquity said: “The decline in sales and launches is on account of higher base effect as year 2023 had recorded historic highs. The low cost of living, availability of skilled workforce and advantageous operational cost for companies besides good connectivity and infrastructure in State Capitals have been driving demand for homes. However, as seen from an all-India context, the top 30 tier 2 cities have been underperforming as sales and launches with respect to top ten cities are only 1/3.”

According to the report, the top three cities that witnessed maximum drop in launches were Sonepat, Panipat and Agra. Only 8 cities saw growth in new launches with top three being Bhopal (268%) followed by Dehradun (100%) and Coimbatore (77%).

West Zone contributed 71% to the total launches.

Mumbai, October 19th, 2024: Oberoi Realty Limited, headquartered in Mumbai, today announced its results for the first half of FY25 and the second quarter of FY25. The Company recorded booking value of Rs. 2,509.45 crores for H1FY25 as against Rs 1,441.26 crores for H1FY24. Further, the booking value for Q2FY25 is Rs. 1,442.46 crores as against Rs. 965.01 crores for Q2FY24.

The Consolidated Revenue for H1FY25 is Rs. 2,800.57 crores as against Rs. 2,177.36 crores for H1FY24. Further, the Consolidated Revenue for Q2FY25 is Rs. 1,358.62 crores as against Rs. 1,243.80 crores for Q2FY24.

The Consolidated Profit Before Tax for H1FY25 is Rs. 1,557.50 crores as against Rs. 1,025.12 crores for H1FY24. Further, the Consolidated Profit Before Tax for Q2FY25 is Rs. 782.47 crores as against Rs. 598.89 crores for Q2FY24.

The Consolidated Profit After Tax for H1FY25 is Rs. 1,173.71 crores as against Rs. 777.45 crores for H1FY24. Further, the Consolidated Profit After Tax for Q2FY25 is Rs. 589.31 crores as against Rs. 456.06 crores for Q2FY24.

Commenting on the Q2FY25 results, Mr. Vikas Oberoi, Chairman & Managing Director, Oberoi Realty, said, “India’s economic growth story continues to captivate the world, and the real estate sector has been a key beneficiary of this positive momentum. We are pleased to report another strong quarter driven by healthy residential sales momentum and robust operating performance across our annuity assets.

Today, we launched our first phase ‘Jardin’ at our integrated development Oberoi Garden City Thane and the initial response is a testament to the power of the brand. The first phase comprises of 5 residential towers, of which the bookings have commenced for 2 towers. We are confident that it will set a new benchmark as a holistic integrated development spread across 75 acres offering luxurious homes with world-class amenities, a 5-star deluxe JW Marriott Hotel Thane Garden City, an exclusive Private Membership Club and an Oberoi International School.

Our commitment to deliver exceptional living experiences has solidified our position as a leading player in the market. With a robust launch pipeline, we are well-positioned to capitalize on the growing demand for premium residential properties and drive sustainable growth.”

Hafele’s Loox Range has been meeting the demands for lighting in furniture as well as the growing needs for networking and digitalization since the last 10 years. The solutions offered within this range maximize simplicity and flexibility as well as assure high reliability. The range presents itself as a unique combination of elegant design and state of the art technology making it the perfect choice for any home furniture application, be it Task Lighting for Kitchen cabinets and plinths, Decorative Lighting for Living Room Showcases, Mood Lighting for Bedroom Applications or pure Functional Lighting in Wardrobes.

With the ever-increasing demands for quality and specialized lighting solutions not just for furniture but also for rooms, Hafele in 2019 expanded its range offering to include ceiling cove lighting which incorporates our high-quality strip lights. It was during this period that we realized that among the numerous ceiling light types available in the market, interior architectural lighting had a huge demand, however there weren’t many prominent brands that offered these solutions. On one side, there existed local market players that offered these solutions without effective quality assurances, while on the other there were international brands that only catered to projects with no stable price offering or service support. This left majority of the customers without a viable choice in the market.

Identifying this distinct gap early on as an opportunity, Hafele initiated the research and engineering for a range of lights that enhances the design of architectural spaces as well as provides opportunities of achieving different illumination techniques and functionalities. As a brand, Hafele understands design and is known for its bend towards innovation. It also understands the importance of home ergonomics, lifestyle conveniences and ease of mobility within your surroundings. Our efforts towards this exercise led to the development of a versatile range of architectural lights; Hafele Architectural Lights was brought into existence.

With Hafele’s New Architectural Lighting Range, you will find all your lighting needs taken care of. Whether it is lighting up a small area, highlighting a wall texture, emphasizing on a work of art, illuminating the floor space at night or simply ensuring even distribution of light across the entire space – these lights have got you covered. The range, consisting of 9 series, covers various applications, installation techniques and design themes. Each series comes with a comprehensive offering of the different types of interior lights, be it downlights, spotlight or wall washers, which allows you to implement a consistent design theme (in terms of the lighting fixtures) across the space available, even with differentiated illumination techniques. The biggest advantage this range carries is the absolutely low Unified Glare Rating (UGR). The lower the UGR rating, the lower the glare from the light fittings which therefore results in comfortable illumination in your living spaces.

The convenient plug and play assembly, impressive product specifications, flexibility in ordering components, luminaire finishes, and availability of glare reduction accessories provide an overall customized option tailored to your specific requirements. Engineered on the same philosophy of ‘easiness’ and ‘flexibility’ as the Loox furniture lighting system, Hafele can now be your holistic lighting solutions provider, delivering premium ambient, task and accent lighting for your living spaces.

The Columbia Series

Experience true High-Definition interior lighting with Hafele’s new Columbia Architectural Lights Series that offers excellent true colour reproduction and sharper details. The compact luminaires from this series deliver a brighter light output, thanks to the premium reflectors that direct maximum light from the LED, efficiently illuminating your interior space.

In addition, the wall washer luminaires from this series give a soothing visual experience thanks to the reflector design which directs the light to the wall in a way that the light source is not visible directly. With an extremely low UGR of less than 16 and, single LED and multiple LED linear luminaire options, the Columbia series downlights and wall washers can be used to illuminate smaller and wider areas.

Mumbai has been evolving at an unprecedented pace with critical infrastructure development such as the Aqua Line. In the first 7 days of operation, the aqua line has managed to ease the commute of more than 1,55,000 people, hinting at the significance of the route that connects two extremely important mid-points i.e. Aarey and BKC. With an estimated daily ridership of 13 lakhs once fully operational, areas between Aqua-line stations will benefit from reduced congestion, better and faster connectivity, and a lower lifetime carbon footprint. Now, with Multi-Modal Integration, the focus would be more on last-mile connectivity ensuring seamless connectivity throughout the entire journey. Especially for stations like Aero City near the Santacruz Airport. It would be a game changer for people who have to travel daily to airports and nearby hotels for work. From a real estate standpoint, this line is poised to significantly boost home prices in the months to come. Overall, this development is part of a bigger trend in urban planning that focuses on integrated transport systems. By prioritizing this infrastructure, we’re not just improving access—we’re creating a more connected and adaptable city that can meet the changing needs of its residents. With the Aqua Line’s first phase open, it’s expected to cut 650,000 vehicle trips daily, easing traffic by about 35% on the BKC-Aarey route. It will also save 354,000 litres of fuel each day, helping to reduce the city’s carbon emissions.” – Mr Amit Jain, Chairman and Managing Director, Arkade Developers Limited

Migsun Group announces that the possession process will soon commence for Migsun Janpath, a strategically located high-street commercial project at Shaheed Path, Lucknow.

Migsun Janpath blends high-street retail, premium business suites, studio apartments, and world-class amenities. Situated near Medanta Hospital, Migsun Janpath enjoys excellent connectivity to key city landmarks, including Lucknow Airport, Ekana Cricket Stadium, and Sushant Golf City. Its 4-sided open plot ensures easy access and high visibility, making it a prime location for businesses and investors.

“Migsun Janpath’s proximity to key areas like Charbagh and Hazratganj will ensure a steady footfall which will translate into robust business opportunities, price appreciation and high ROI. We’ve designed Migsun Janpath as an integrated space to cater to a wide range of needs, from luxury retail to healthcare services, offering businesses an unmatched opportunity for growth,” said Yash Miglani, MD, Migsun Group.

Migsun Janpath features high-street retail outlets that includes world-class brands, a food court offering diverse dining options, premium business suites and studio apartments, and a dedicated entertainment zone. Additionally, the project will also have multi-level parking facilities, ensuring convenience for both visitors and tenants, along with 3-tier security, ensuring a safe and secure environment.

With few units still available, Migsun Group also invites buyers and investors to take advantage of this opportunity and invest in ready-to-move-in iconic retail and business destination.

Migsun Group has delivered over 40 projects across the NCR region, earning a reputation for quality, innovation, and timely project completion. With a robust pipeline of upcoming developments, the Group continues to push boundaries and exceed customer expectations, solidifying its leadership in the real estate sector.

Bengaluru, October 18, 2024 – AiDash, an enterprise SaaS company helping critical infrastructure industries become climate resilient and better prepared for the energy transition with satellites and AI, today unveiled an end-to-end system addressing utilities’ most urgent challenges in the wake of climate threats like storms and wildfires. Its new Full Stack Platform for Grid Inspection and Monitoring provides utilities with the data and insights needed for proactive, preventative maintenance to keep the grid operational, safeguard communities, and reduce costs. AiDash CEO Abhishek Singh debuted this first-of-its-kind solution at the company’s Evolve 2024 conference in New Orleans.

“In an era of super storms and wildfires, keeping the power on is more challenging than ever. Climate change, growing power demands, and the need to expand grid capacity highlight the urgent work ahead to ensure safe, reliable, and affordable power,” said Abhishek Singh, CEO of AiDash. “With our Full Stack Platform for Grid Inspection and Monitoring, we’ve combined all of our capabilities and integrated new data sources, giving utilities the most accurate information to enable swift, decisive action.”

The Full Stack Platform for Grid Inspection and Monitoring launches as the U.S. utility landscape now includes over 7 million miles of power lines, approximately 250 million poles, a billion devices or assets, and billions of trees. Inspecting, monitoring, and maintaining this at scale is beyond human capacity. Technology adoption is the only path forward for utilities to minimize outages, reduce costs, and improve grid reliability.

“If every asset is inspected with the right remote sensing technology, at the right frequency, and problem areas are addressed quickly, utility-caused fires and outages can be drastically reduced, if not eliminated,” said Singh. “Our solution empowers utilities to be more proactive, adaptive, and resilient, leading to safer communities, better working conditions, and improved bottom lines.”

First-of-its-Kind Platform Makes Utilities More Climate Resilient

Over the past five years, AiDash has committed itself to using the latest in satellite technology and AI to respond to utility companies’ most pressing needs in the face of the unprecedented effects of climate change. The company’s new system is designed to make an even greater impact on their operations and maintenance (O&M), as AiDash’s full suite of products has been brought together in one cohesive platform.

With the AiDash Full Stack Platform for Grid Inspection and Monitoring, utilities can perform a satellite scan of their entire network to identify potential vegetation issues, pinpoint asset locations (poles and conductors), and assess road accessibility and terrain.

Based on these satellite insights and depending on use cases, budget, and criticality, utilities can then opt for ground-based LiDAR or visual inspections for road-accessible assets, aerial scans (visual/LiDAR) for broader areas, and drone scans for limited, hard-to-reach regions.

This multi-pronged approach delivers detailed, large-scale visual inspections of all assets and surrounding vegetation using a single platform. Data is consolidated, and advanced AI quickly identifies, prioritizes, and predicts issues. This enables swift, proactive actions to tackle current and future grid challenges while reducing the average cost per mile of scans. The platform also makes the grid more intelligent and ready for the energy transition.

The Full Stack Platform for Grid Inspection and Monitoring enables utilities to:

• Inspect and monitor assets and surroundings at scale and with the required frequency
• Model system and climate risks, as well as sustainability impacts
• Predict tasks and their criticality for routine and ad hoc O&M
• Apply business constraints to analyze scenarios, create and prioritize digital plans
• Execute tasks and log progress using the AiDash Field Application
• Track progress and audit completed work

“By leading with satellites and complementing them with ground-based LiDAR and on-ground patrols, we achieve what no single data source could—and do it more cost-effectively. Sharing data between our vegetation management and asset management teams improves coordination, enhancing reliability for our customers,” said Bert Stewart, Manager of Vegetation Strategy at National Grid.

Securing Tomorrow Together

The Full Stack Platform for Grid Inspection and Monitoring marks the next stage of AiDash’s growth in transforming how utilities protect and maintain their assets. To achieve its mission of making critical infrastructure more adaptive and climate-resilient, AiDash is collaborating with all entities involved, such as utilities, regulators, and partners, including consulting firms, system integrators, and technology and data partners. The company plans to expand this ecosystem, recognizing that climate challenges are too large for any single company—collaborative solutions are essential.

 by Ashish Shelar, a prominent Mumbai political leader during a joyous handover event

Mumbai, October 17, 2024: Transcon, a leading real estate developer, proudly announces the successful delivery of 148 SRA units to the residents of Sai Durga SRA Co-operative Housing Society, Santacruz (W), Mumbai. This momentous event was marked by a ceremonial handover attended by Shri Ashish Shelar, a prominent political leader and advocate for urban development, highlighting the company’s dedication to improving urban living standards.

The SRA component of Transcon’s commercial project, Ramdev Plaza, symbolizes the company’s ongoing commitment to providing quality housing solutions for the community. During the event, Shri Ashish Shelar expressed his admiration for Transcon’s efforts, stating, “This initiative marks a significant step toward transforming the lives of these residents. Access to safe and adequate housing is crucial for creating a better future, and I commend Transcon for their unwavering commitment to this important cause.”

Ms. Shraddha Kedia-Agarwal, Director of Transcon Developers, shared her enthusiasm, saying, “We are excited to deliver these SRA units to the residents of this community. Our goal has always been to provide quality housing solutions that not only meet the immediate needs of the community but also promote long-term sustainability. We believe that every individual deserves a safe and dignified place to call home, and this project exemplifies our commitment to making that a reality.”

The newly constructed homes in Santacruz are designed with a focus on functionality and comfort, providing residents with access to essential amenities and a secure living environment that enhances their overall quality of life. This milestone reinforces Transcon’s dedication to social responsibility and its efforts to positively shape the urban landscape of Mumbai.

Transcon’s commitment to social housing aligns with its broader mission to enhance urban living through innovative and sustainable development practices. The company remains committed to collaborating with government authorities and community stakeholders to deliver impactful projects that support the overall growth and development of Mumbai.

The successful completion of the SRA component of the Ramdev Plaza project stands as a testament to Transcon’s dedication to creating positive change in the communities it serves. As Transcon continues to expand its portfolio, it remains focused on delivering high-quality, affordable housing that empowers residents and enriches their lives.

Mumbai’s real estate sector is set for a significant transformation with the launch of the first phase of the Mumbai Metro Line-3. During a recent visit to the city, Prime Minister Shri Narendra Modi inaugurated this crucial infrastructure project, marking a new era of connectivity for India’s financial capital. The first phase of the Metro Line-3 connects Bandra Kurla Complex (BKC) to Aarey, spanning the JVLR section. As Mumbai’s first underground metro, the Aqua Line will revolutionize travel in the city, featuring 10 new stations, including key transit hubs such as T2 and Santacruz, thereby easing congestion and reducing travel times.

The full 33.5 km route of the Aqua Line connects Aarey to Cuffe Parade, incorporating 27 stations along its path. The recently launched first phase spans 12.5 km between Aarey and BKC, offering an important boost to the city’s transport network. Moreover, this metro line will integrate with Mumbai Metro Line 1 at Marol Naka, offering improved connectivity across Mumbai’s key regions.

Mr. Anil Mutha, Chief Visionary & Co-Founder, Nandivardhan Group highlighted the transformative nature of these developments, stating, “The government’s commitment to improving Mumbai’s infrastructure is commendable. The launch of Mumbai Metro Line-3 is a transformative milestone for urban transportation. This will drastically improve connectivity and help ease congestion in vital corridors. Once the Metro 3 is fully operational, it will enhance accessibility for residents commuting between Dadar in south-central Mumbai and the northern suburbs, significantly benefiting daily commuters. Additionally, the operational metro corridor is expected to stimulate holistic development in the South Mumbai real estate market, particularly around Dadar, by improving connectivity to key areas like BKC, Worli, and Marine Lines.”

Elaborating on benefits to SoBo residents, Mr. Vedanshu Kedia, Director of Prescon Group stated, “South Mumbai is back on the real estate map with high-impact infrastructure projects that are announced and ongoing such as the Coastal Road, Bandra-Worli Sea Link Extension, Sewri-Worli Elevated Corridor, as well as Metro Line 3. There will be significant advantages for residents of Mahim, Dadar, Matunga, Worli, who will benefit from enhanced connectivity to the rest of Mumbai and Navi Mumbai. These micro markets have significant scope of redevelopment potential due to their large stock of ageing real estate. Once these initiatives are operational, property values and volumes are anticipated to increase significantly. We feel that the market share for these micro-markets will significantly improve in the residential and commercial property transaction pie of MMR Region.”

Commenting on the impact on the region, Mr. Rohan Khatau, Director, CCI Projects added, “The Metro 3 and Metro 7 along with the Western Express Highway will significantly ease connectivity in the Kandivali-Borivali belt. This will inevitably lead to a surge in housing demand, as the area becomes more accessible and attractive for potential homebuyers seeking well-connected residential options.”

Reflecting on the benefits for homebuyers, Mr. Umesh Jandial, Chief Business Officer, Omkar Realtors & Developers shared, “There is already significant demand for housing in the western suburbs, especially in the Malad-Goregaon belt. The convergence of Metro Line 3 with existing Metro lines 1 & 7 will further fuel housing demand in this region. Improved connectivity, lifestyle amenities, and the convenience offered by projects in the western suburbs will greatly enhance the lifestyle for homebuyers along this metro corridor.”

Ms. Shraddha Kedia-Agarwal, Director, Transcon Developers emphasized the strategic importance of these developments, stating, “These infrastructure initiatives are pivotal for Mumbai’s future. The focus on underground metro systems and freeway extensions represents a forward-thinking approach to urban planning. Areas like Santacruz, Andheri, and Malad along the western line will see heightened demand, with the improved mobility expected to stimulate both residential and commercial growth, making Mumbai a more competitive global city.”

Mr. Himanshu Jain, VP – Sales, Marketing & CRM, Satellite Developers Pvt. Ltd. highlighted the Malad-Goregaon region’s growth potential noting, “The combined impact of Metro 3 and Metro 7 will drive residential and commercial development in the Malad-Goregaon region. For millennial homebuyers, the proximity of their homes to workplaces is a crucial factor. Compact homes and studio apartments near their workspace allow them to maintain a balanced lifestyle, offering more quality time with their families.”

Looking ahead, additional infrastructure projects like the extension of the Santacruz-Chembur Link Road (SCLR) and the forthcoming Phase II of Metro Line-3 are set to further enhance Mumbai’s transport network. These initiatives are critical for alleviating congestion and meeting the needs of the city’s growing population and economic aspirations.

As Mumbai embraces these transformative changes, the impact on daily commuting and the city’s global standing will be profound. By 2025, the seamless integration of air, road, and metro networks is expected to position Mumbai as a world-class urban center, prepared to tackle the challenges of its expanding population and dynamic economy.