Showing posts with label Real estate. Show all posts
Showing posts with label Real estate. Show all posts

Vedanta Nand Ghar bags the "CSR Shining Star Award"

 

New Delhi, 22nd Feb. 2021: Vedanta Limited has been conferred with the “CSR Shining Star Award” under the category of Child Development for Nand Ghar, Vedanta Group’s flagship corporate social responsibility project. The recognition was given by Honorable Governor of Maharashtra, Shri Bhagat Singh Koshyari in an award ceremony held at the Raj Bhavan, Mumbai on 20th February 2021

The award recognizes Vedanta’s efforts towards the holistic development and growth of children contributing towards building a stronger and healthier nation.

Speaking on receiving the award, Vedanta Director, Ms. Priya Agarwal said: “I am honored as well as humbled to receive the award for our Nand Ghars that are transforming the lives of rural women and children across the country. We are committed to fulfilling Prime Minister Shri Narendra Modi’s vision of eradicating child malnutrition, providing education and healthcare, and empowering rural women through skill development, and Nand Gh,



Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s leading Oil & Gas and Metals company with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, and Aluminium & Power across India, South Africa, Namibia, and Australia. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta's strategy, with a strong focus on health, safety, and environment. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. Under the aegis of Vedanta Cares, the flagship social impact program, Nand Ghars have been set up as model anganwadis focused on eradicating child malnutrition, providing education, healthcare, and empowering women with skill development.

The company has been featured in Dow Jones Sustainability Index, and was conferred CII-ITC Sustainability Award, the FICCI CSR Award, Dun & Bradstreet Awards in Metals & Mining, and certified as a Great Place to Work. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange. 

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NoBroker Survey: 78% of tenants from Mumbai eyeing to buy their first property in 2021

 ·         87% of prospective buyers prefer ready-to-move-in or resale houses when purchasing property

·         NoBroker saved INR 267 crore worth of brokerage

·         88% of tenants made rental agreement online in 2020

·         Security is the most important amenity for 66% of the city’s tenants; 75% favour society accommodation

Mumbai, January 19th, 2021: NoBroker.com, the world’s largest ‘peer-to-peer’ real estate portal, has identified the key property trends that dominated the Mumbai’s real estate over the last year in its ‘India Real Estate Report 2020’. According to the findings, 78% of the respondents in Mumbai are looking to buy a house in 2021. Mumbai also has the highest percentage of buyers looking for society accommodation (82%). This trend can be attributed to the lack of independent houses in the city, as well as the enhanced safety and convenience that society living offers.

NoBroker Survey: 78% of tenants from Mumbai eyeing to buy their first property in 2021

The following are the major property purchase trends in Mumbai that dominated in 2020, as observed by NoBroker.com in its latest report:

·         Majority of of the homeseekers (87%) in Mumbai prefer ready-to-move-in or resale houses. Given the difficulty faced by people who have invested in under-construction projects, this seems to be a legit choice.

·         Nearly three-fourths (73%) of the surveyed homeseekers from Mumbai are first-time buyers.

·         A majority of the buyers (92%) in the region are looking to purchase a property for end-use. Only 8% of them are interested in owning a property for investment purposes.

·         Nearly 67% of homeseekers in Mumbai consider Vastu compliance an important factor in their decision-making process.

·         At 20%, Mumbai has the highest percentage of property seekers looking to buy a house in 2021 with a budget of INR 1 crore or above. This can be attributed to the high cost of properties in the region, and also the reduction in stamp duty charges.

·         Mumbai hosts the largest percentage of people looking for 1 BHK units (49%). This too could be because of the fact that prices on average are higher in Mumbai.

·         The impact of the pandemic on the city’s real estate sector reflected in property prices, with the highest dip of 3.7% in per square feet prices. This was in line with the trend across most other major cities in India.

Top rental trends

·         Tenants from Mumbai were amongst those most actively avoiding real estate brokers, with 43% of the respondents choosing real estate websites and 41% opting to search through their social circles, over the middlemen. This was done to avoid unnecessary brokerage fees, as tenants in the city are required to pay a month’s rent as brokerage even if they are renewing their contract with the same landlord.

·         Security is the most important amenity for 66% of tenants in Mumbai. About 13% of them also mentioned that they look for visitor and society management apps on account of the convenience and security they offer. Mumbai is also home to the highest percentage of tenants (75%) who prefer society accommodation over independent houses and independent floors.

·         The use of digital payment tools reigned supreme amid the pandemic. Almost two-thirds (63%) of the tenants in Mumbai paid their rent through online channels such as bank transfer and NoBroker Pay. Mumbai and Pune aced the trend of digital transactions. Only 24% of them transacted using cash.

·         NoBroker observed that 88% of the tenants in Mumbai use online portals to make their rental agreements. This is again the highest among all cities surveyed.

·         On account of the pandemic, the region experienced negative rent inflation, with the average rent dropping by 1.56% compared to the previous year.

The human side of landlords

·         NoBroker.com also made an interesting observation about the behaviour of Indian landlords in the wake of the COVID-19 crisis. Of the surveyed landlords in Mumbai, nearly half (49%) mentioned that they waived off some rent during the lockdown for the benefit of their tenants.

·         79% of landlords across cities prefer families as tenants. Only 19% of landlords in Mumbai expressed their willingness to rent to bachelors.

Speaking on the latest findings, Saurabh Garg, Co-Founder & CBO, NoBroker.com, said, “The real estate trends of 2020 cannot be discussed without talking about the pandemic. This pandemic made people realise the importance of owning a home and 78% of respondents are looking to explore buying a home in 2021. The viral outbreak-led safety concerns are driving buyers as well as tenants towards opting for society accommodation, where new-age apps are elevating the residential experience of users. We believe that this trend is here to stay.”

By relying on consistent innovation, NoBroker.com has emerged as a domain leader in the Indian proptech space. It helped homeseekers in the Mumbai region save a whopping INR 267 crore in brokerage this year – nearly a third of the INR 1,017 crore saved across six top cities in India. Underscoring its mission of providing its users with safe and convenient services, the platform also offers several related offerings. These include packers & movers, home loans, NoBroker Pay, rental agreements, home painting and cleaning services, and NoBrokerHood society management app, among others.

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Thriwe supports Dubai Sports Council CEO Masters 2021

 Thriwe supports Dubai Sports Council CEO Masters 2021

Leading Indian consumer benefits marketplace, Thriwe supports Dubai Sports Council CEO Masters 2021

·         The 7-Star golf and networking experience was held in the Dubai Sports City Els Club on Wednesday, 6th January, 2021

·         Thriwe introduced its newly launched digital platform WeLive at the event

·         Leading Golfers from across the world participated in the prestigious invite- only event


Thriwe supports Dubai Sports Council CEO Masters 2021


New Delhi, 7th January 2021: Thriwe, the leading Indian consumer benefits marketplace for the brands to plan their consumer strategy, successfully participated in the Dubai Sports Council CEO Masters 2021 – the 7-Star golf and networking experience held on Wednesday, 6th January, 2021 in the Dubai Sports City Els Club. The event brought together 108 top golfing executives and government representatives from across the world including the likes of Mr Pankaj Tandon, Senior vice president, KEC international, Marwan Hadi, Executive Vice President & Head - Retail Banking, UAE at Emirates NBD and Muzaffar Khokhar - Exec. Vice President, Digital Business Unit, IDEMIA, who played Golf and discussed collaborative measures to promote Golf as a business networking and key tourism tool. Dhruv Verma, Founder and CEO, Thriwe, also participated in the event. Few other top golfing executives who participated in the event include Pankaj Kundra, VP - Regional Head - India, Middle East and Africa - Digital Business Unit at IDEMIA, Sachin Mahajan, Managing Director, Head of Middle East, N. Africa & South Asia- Canaccord Genuity Inc, Vic Barreto, CEO, Capital Club Dubai and Sudhakar Murthy - Group CEO at ACORE Group.

At the event, Thriwe introduced and created awareness about its newly launched digital platform WeLive.  WeLive is a b2b subscription-based platform that offers a host of lifestyle benefits to consumers. An Indian company that has expanded across ME and SEA, Thriwe has not just contributed to growing the game of golf in India but also in UAE through their past events such as the India-UAE Friendship Cup series. 

Commenting on the initiative, Dhruv Verma, Founder and CEO, Thriwe, said, “Over the years, we have evolved and diversified our product portfolio to cater to the broader segments ranging from sports, lifestyle, wellness, travel to bespoke digital solutions. Thereby, evolving into a leading consumer benefits marketplace with roots deep into Golf. Our loyalty towards golf is still intact despite the diversification of our product portfolio. Dubai Sports Council CEO Masters is one of the most anticipated events of the year and we are delighted to be amongst one of the leading sponsors for it.” 

The Dubai Sports Council CEO Masters 2021 was held in an 18-hole team shambles format, designed to provide an interactive golf and networking experience. The tournament concluded with a formal dinner presentation with social distancing held at the Big Easy Restaurant hosted by H.E. Saeed Hareb, the Secretary General of Dubai Sports Council, who addressed the senior business and government leaders of the UAE to discuss the value of golf both as a business networking and tourism tool for the region. 

About Thriwe: A consumer benefits marketplace headquartered in India with offices across UAE and Singapore, Thriwe is a one stop platform for the brands to plan their consumer strategy. Founded in 2011 by Dhruv Verma and Swati Sharma, Thriwe curates, executes, and manages value-driven consumer membership programs to acquire, retain and engage with companies’ stakeholders.

The brand which was earlier called Golflan has rebranded to Thriwe and has diversified across a variety of services. The brand operates across 5 key sectors – travel, wellness, lifestyle, sports and bespoke solutions. In line with the new-age businesses, Thriwe has a very strong presence online through its own website and app. With a decade of experience across HNI value added services, Thriwe offers flagship programs such as TeePass, Privystreet, Statesman Lounges, DineFit and WeLive. 

The organization had raised funding of $1 million from YourNest Angel Fund in 2015, post which it raised $1 million from ISON, an Africa-based information technology group in the year 2016.

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JLL || Quote - Maharashtra cuts real estate premiums by 50%

JLL || Quote - Maharashtra cuts real estate premiums by 50%

JLL || Quote - Maharashtra cuts real estate premiums by 50%


Inputs by Siva Krishnan, Managing Director -  Chennai & Coimbatore and India Head, Residential Services, JLL India on Maharashtra Govt’s decision to reduce all premiums related to the sector by 50%.

“This move will help to reduce the landed cost for the Developers thereby rationalizing the cost and reducing the burden on customers. It is expected to further trigger the recovery of the residential real estate market which has seen a good uptick in last 2 quarters due to factors like lower interest rates, pro-active measures from the govt like stamp duty reduction. These moves, coupled with the current measures will go long way in enticing both end users and investors back to the residential market. The country's residential sector is already seeing an acceleration in sales leading to a fast paced recovery from the impact of the pandemic.”

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Office absorption up 64% in Q3 vs Q2 2020, new completions increase 59%: JLL

  

•        Bengaluru and Hyderabad account for 80% net absorption in Q3, also witness maximum growth in new completions

•        Vacancy in Grade A offices marginally up from 13.1% in Q2 2020 to 13.5% in Q3 2020

•        Vacancy levels in Bengaluru, Chennai and Pune stayed in single digits

 

Mumbai, October 05, 2020: India’s office market witnessed a net absorption of 5.4 million sq ft in quarter ending September 2020 (Q3), an increase of 64% versus quarter ending June 2020 (Q2). This is an encouraging trend especially after net absorption dipped almost at a similar rate in the second quarter, according to JLL Research.

The third quarter office rebound growth was led by Bengaluru and Hyderabad, which together accounted for nearly 80% of the net absorption in Q3 2020. The heightened activity in Bengaluru indicates a gradual resurgence in take up of spaces coupled with the translation of pent up demand from Q2 this year.

Net absorption[1] gaining pace

 

Q2 2020 (mn sq ft)

Q3 2020 (mn sq ft)

Growth (%) - Q3 2020 over Q2 2020

Bengaluru

0.45

2.72

504%

Chennai

0.10

0.21

110%

Delhi NCR

0.50

0.20

-60%

Hyderabad

1.18

1.54

31%

Kolkata

Negligible

0.02

-

Mumbai

0.45

0.28

-38%

Pune

0.64

0.46

-28%

Total

3.32

5.43

64%

Source: Real Estate Intelligence Service (REIS), JLL Research

“While we continue to see the impact of the pandemic on various businesses, there is a significant surge in activity across most office markets under consideration. This is seen in gross leasing which more than doubled from the previous quarter at 13.8 million sq ft. At the same time, it is important to note that large and mid-sized occupiers across major markets continue to review their real estate portfolios in a bid to optimise cost, higher emphasis is being given on sustainability and employee well-being as well as adoption of flexible working practices.” said Ramesh Nair, CEO and Country Head, India, JLL.

While the share of IT/ITeS occupiers in gross leasing[2] dipped to 43% in Q3 2020 from 61% in Q2 2020, e-commerce and manufacturing sectors gained significant shares during the third quarter forming 16% (negligible in Q2 2020) and 17% (5% in Q2 2020) respectively, owing to surging demand of e-commerce during COVID19.

Confidence in new completions

New completions during Q3 2020 increased by 59% quarter-on-quarter with 9.2 million sq ft of new stock coming to market.. “With lockdown restrictions being relaxed in the third quarter in most of the markets under review, office projects in the final stages of construction or pending receipt of occupancy certificates came onboard. This resulted in an increase in the supply of office space, even surpassing 8.6 million sq ft witnessed in Q1 2020,” said Dr. Samantak Das, Chief Economist and Head of Research & REIS, India, JLL.

New completions rebound

Q2 2020 (mn sq ft)

Q3 2020 (mn sq ft)

Growth (%) – Q3 2020 over Q2 2020

Bengaluru

0.0

4.70

-

Chennai

0.0

0.0

-

Delhi NCR

1.94

0.22

-89%

Hyderabad

2.38

3.33

40%

Kolkata

0.0

0.0

-

Mumbai

1.45

0.30

-79%

Pune

0.0

0.63

-

Total

5.77

9.18

59%

 Source: Real Estate Intelligence Service (REIS), JLL Research

In sync with net absorption, Bengaluru and Hyderabad led the increase in new completions accounting for 87% of the total new completions in Q3 2020. Notably, new completions in both these markets even went past the average new completion levels witnessed in the four quarters of 2019.

Vacancies go up in Grade A offices

Increased office space consolidation and optimisation strategies of corporate occupiers resulted in subdued net absorption levels, which could not keep pace with new completions. This resulted in overall vacancy increasing from 13.1% in Q2 2020 to 13.5% in Q3 2020. Despite the rise in vacancy levels in southern markets, Bengaluru,  Chennai and Pune continued to hover in single digits. This augurs well for a strong rebound in these markets when economic and business conditions improve in the coming quarters.

Vacancy in Grade A office

As of Jun 30 2020 (%)

As of Sep 30 2020 (%)

Bengaluru

5.3%

6.5%

Chennai

7.9%

7.6%

Delhi NCR

28.0%

27.9%

Hyderabad

9.2%

11.3%

Kolkata

26.4%

26.3%

Mumbai

13.4%

13.4%

Pune

4.4%

4.7%

Total

13.1%

13.5%

Source: Real Estate Intelligence Service (REIS), JLL Research

Rentals across markets remain stable

Except for Bengaluru which witnessed a marginal increase in rents, office rents in Q3 2020 vs Q2 2020 remained stable across all markets under review. With stable rental values and low vacancy levels, the office market in India continues to be landlord favourable. However, it is important to note that landlords across markets have become more flexible in providing increased rent free periods, reduced rental escalation and fully furnished deals to prominent occupiers which reduces their net outgo.

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