Author: RM Bureau
Parsvnath Developers Ltd. announces to provide an interest holiday to all its customers for three months
Extending a major relief to its homebuyers amidst the Coronavirus pandemic, New Delhi based leading real estate company Parsvnath Developers Ltd. along with its associate companies announced that it has decided to provide an interest holiday on outstanding amounts to all its customers / home buyers for three months from 15 th March 2020 till 15 June 2020. Parsvnath Group Founder and Chairman, Mr....
KEI Industries Ltd. extends support to ISKCON Delhi to feed more than 2 lakh homeless daily
While the nation is gripped by the coronavirus and is observing a lockdown, several have been stranded with no food and shelter. Amidst these challenging times, country’s leading wire and cable manufacturer KEI Industries Ltd. has also extended their support to ISKCON Delhi to feed the homeless. Being a socially responsible corporate, the company understands the need of the hour and supports those...
COVID-19 to Reduce Housing Sales by 25-35%
– by Anuj Puri, Chairman – ANAROCK Property Consultants COVID-19 Impact on Housing Sector Current estimates reveal a substantial drop in demand and supply across various real estate segments in 2020. Housing sales could witness a 25-35% yearly drop in 2020 against the preceding year, reveals the ANAROCK report ‘COVID-19 – Will it Reset Indian Real Estate?’ Residential...
Uplift Lock-down on Construction Workers
– by Dr. Niranjan Hiranandani is President NAREDCO & ASSOCHAM The COVID-19 pandemic has resulted in an abrupt stoppage of work at construction sites all over India. The lockdown has resulted in unfinished and partially complete work, resulting in the possibility of losses – which can be minimized, if the pending work could be completed. In the initial days, the reaction of labour a...
M3M Foundation supports 5000 people during the lockdown
Amidst the nationwide lockdown, M3M Foundation the philanthropic arm of M3M Group has extended support to 5000 daily wage earners and construction workers. The relief work is being carried out in Gurugram under its iMPower program. Roop Bansal, Trustee, M3M Foundation said, “We appreciate the government’s decision for a complete lockdown to tackle the present situation. However, due to the suspens...
Online Schemes helping Developers overcome Corona crisis
The real estate sector has come up with hordes of innovative schemes to keep the buyers engaged and end-users can avail to multiple booking facilities that are available via multiple online platforms. From sales via video conferencing to online project tours to easier online payment gateways. Developers have come out with innovative online schemes through which a home seeker can easily book his ho...
KEI Industries Ltd. pledges support towards India’s fight against COVID-19
The country’s leading wire and cable manufacturer, KEI Industries Ltd today pledged Rs 2 crore to the PM Care Fund supporting the call of fighting against the ongoing COVID-19 pandemic in India. The company recognizes the current situation in India and across the world is of grave concern and needs immediate action. Being a socially responsible corporate, KEI has in the past risen to the needs of...
India’s home loan story shifts to the periphery
Smaller towns and cities have seen better home loan offtake, beating the share of the metro by 8 percentage A look at India’s home loan market reveals that the pace of home loans growth is at 19% for rest of the nation during Mar-13 to Mar-19, while that of districts which comprise of top 7 metro cities grew at 12% over the same period. The same has been revealed by data of home loans disbursed by...
Piramal Group Commits INR 25 Crores to COVID-19 Relief Effort
Piramal Group in its continued commitment towards supporting the nation in its fight against COVID-19 has pledged INR 25 Crores towards the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) set up by Hon’ble Prime Minister Narendra Modi. Piramal Group stands in solidarity with the efforts of the Government to overcome this pandemic that is impacting ...
Elan Group distributes one month of ration to over 2000 construction workers
Amidst the lockdown caused by the Covid-19 pandemic and migrants workforce leaving Delhi NCR, Elan Group took a step forward to ensure the safety and security of its construction workers. The developer under its philanthropic arm Elan Foundation distributed one-month of ration to over 2000 construction labourers working at their sites. Social distancing was duly followed in distribution with white...
Dalmia Bharat joins fight against coronavirus with ₹25 crore contribution to PM-CARES Fund
In its humble bid to contribute to a national cause, Dalmia Bharat Group, one of India’s leading conglomerates, has committed ₹25 crores to PM-Cares Fund as part of its endeavour to assist the government’s massive efforts against COVID 19. “Both the Centre and state governments have done an exceptional job to contain the outbreak of COVID in India. India’s strength is its United citize...
India needs a collaborative, student-centric, research-based & outcome-bound education system: Mugdha Thakurdesai
Children of today are the citizens of tomorrow. Therefore, it is important to invest in the future. It is important to overhaul the education system and make it more ‘student-centric’ which could be run by a collaborative, research-based & outcome bound system. And there is one organization that has initiated this change. Education Design Architects, one of the leading designs and architecture...
Tulip Infratech performing CSR for Site Workers during COVID-19
In these tough times of Corona Virus Pandemic, an excellent example of Corporate Social Responsibility has come to the forefront by Tulip Infratech, one of the leading Real estate development organizations in Gurugram NCR area. Tulip Infratech CMD Mr Parveen Jain says, ‘In these unprecedented trying times due to the Pandemic COVID-19, which everyone is facing, Tulip Infratech has taken the initiat...
RBI Makes Its COVID-19 Countering Move
RBI’s latest announcement of a massive repo rate cut of 75 bps coupled with three months moratorium of EMIs on all outstanding loans is the biggest move that India has so far made to counter the COVID-19 fallout. The move will push credit flow into all industries reeling under the impact of the coronavirus. The repo rate cut will I fuse cash flows into the system and ensure that consumption disrup...
Purposeful action to mitigate the adverse macroeconomic impact of the pandemic
This is a very significant move with substantial monetary policy intervention at a time when COVID -19 has impacted the economy at large. This is in conjunction with the economic package announced by the finance minister yesterday for the poor. In addition to other benefits, the package is expected to benefit 3.5 crores registered construction workers. This is also a perfect orchestration of the j...
Dalmia Bharat suspends cement production across nation to curb spread of Covid 19
In a significant move aimed at social distancing and protecting the workforce from a global pandemic of COVID 19, India’s leading cement manufacturer Dalmia Cement (Bharat) Ltd has suspended cement production across all its plant locations in the country. Dalmia Bharat operates across nine states and 12 manufacturing units with a combined annual capacity of 26.5 million tonnes. Commenting on the d...
Covid-19 Effect – Housing Sales, New Launches Dip 42% Each in Q1 2020
As anticipated, the Covid-19 pandemic had a considerable impact on the Indian housing sector. Residential sales saw a 42% y-o-y drop in the first quarter of 2020, reveals the latest data by ANAROCK. In Q1 2020, residential sales in the top 7 cities stood at 45,200 units, against 78,510 units a year ago. On a q-o-q basis, housing sales fell by 24%. Meanwhile, new launches too fell by 42%annually &#...
COVID-19 Lockdown Stalls Construction
A lot is currently at stake for Indian residential real estate as cities go into complete lockdown mode to battle the spread of Covid-19. Developers tend to schedule project launches during the auspicious festivals of Gudi Padwa, Akshaya Tritiya, Navratri, and Ugadi. The strict advisories for complete lockdown across cities will impact housing sales during the upcoming festivals, usually considere...
Significant stress expected on mall operators’ cash flows in the near term
The effect of coronavirus is expected to have a differential impact on the commercial real estate (CRE) sector in India. The retail commercial space comprising mainly of mall operators will be impacted in a major way due to its closure across the country whereas, in the office space segment, the repercussions are likely to be marginal. The global spread of COVID-19 since January 2020 is resulting ...
COVID–19 to impact property sales on Gudi Padwa & Ugadi
Ugadi, one of the biggest festivals in South India and Gudi Padwa, the beginning of the Hindu calendar that signifies the start of the New Year is considered to be the most auspicious time to buy a property; the festivals won’t be the same this year. The outbreak of COVID-19 has actually dampened business activities across the globe and real estate is no far behind. Construction activities to have...
Realtors extends support to fight COVID – 19; express gratitude to Corona Warriors
As the country is braced up to beat the outbreak of COVID – 19, they have actually created history by becoming a part of India’s first-ever social mission of self- governance to save fellow beings. Many of Mumbai’s top realtors equally stood up with its people in this hour of crisis. Seldom in the history that the city is seeing its roads empty, the markets deserted and the publi...
NRI continue to play out loud in Indian Real Estate
In the past few years, NRIs have come strength to strength in the Indian housing market. Once a limited force, the expatriate community currently accounts for a sizable part of Indian housing demand. As per the report by 360 Realtors, India’s leading Real Estate advisory & one of the most dominant players in the NRI space, in FY 21, a total of USD 13.1 billion of NRI capital are expected to en...
Approving buyback of equity shares
In furtherance to our intimation letter dated March 18, 2020 and pursuant to Regulation 30 of the SEBI Listing Regulations read with circular issued by the Securities and Exchange Board of India (“SEBI”) bearing number CIR/CFD/CMD/4/2015 dated September 9, 2015, this is to inform you that the Board of Directors of the Company, at its meeting held on March 21, 2020, have considered and approved the...
JLL named number one investment advisor in Asia Pacific
JLL has been named the number one investment advisor in the Asia Pacific for 2019 by Real Capital Analytics (RCA), an independent body that monitors real estate transaction volumes worldwide. For the full year 2019, JLL closed $27.6 billion in investment deals, achieving approximately 30% market share, and led the region in terms of complex transactions, with over $13.1 billion in cross-border de...