Connect with us

Entrepreneur Stories

Developers Unanimous about Growth in the Residential Segment to Peak in 2023

Avatar

Published

on



Leading realty players in Gurugram are optimistic that the growth in the Indian residential segment will peak in 2023, as outlined in the recent ANAROCK report. A revival in consumer sentiment, accelerating digitisation and initiatives by developers will play a pivotal role in shaping the growth trajectory. The report predicts housing sales to be more than 3 lakh units and new launches to increase by 2.62 lakh units in 2023.

Residential Project in Gurugram

Amidst the pandemic, people are spending most of their time indoors, which has provided a fillip to the demand for spacious homes with state-of-the-art amenities for a superior experience. The rebounding of sales towards the end of 2020 indicates the resilience of the luxury segment as the sophistication benchmarks remain the same for elite homebuyers.

Amidst the vaccination rollout, the residential segment is seeing growth and better sales. Bolstered by policy push and growing realisation about the significance of homes, the residential segment is poised towards a higher growth trajectory in the coming months,Pankaj Bansal, Director, M3M.

The widening of the inoculation drive and economic stability prospects augur well for quick rebounding of the residential sector by the end of this year.

The tapering of COVID-19 cases and upswing in economic activity has rekindled hopes of a swift recovery. The pandemic has reaffirmed the significance of homeownership that is set to rise against the backdrop of low-interest rates, conducive policies and initiatives by real estate players. The upcoming festive season, auspicious for buying a new home, is also expected to give a major push to sales. Overall, we foresee a robust residential demand for the remaining year, Ashish Sarin, CEO, Alpha Corp.

Overall, 2021 will witness better performance in residential real estate as opposed to 2020. Nevertheless, sales are expected to be lower than in 2019 – the recent peak year. This is due to the second wave derailing the sector, albeit temporarily, between April and June.

Going forward, the demand is expected to remain buoyant in the wake of stable interest rates, increased hiring in the job market and various initiatives by the government to mitigate the impact of the pandemic on real estate.

NCR is expected to account for 18% of sales and 15% of new launches. A combination of factors such as strategic connectivity, the rapid pace of infrastructural developments and employment prospects have made NCR a sought-after real estate hub. COVID-19 has reaffirmed the significance of owing spacious homes amid verdant greenery to maintain harmony with Nature. Subsequently, peripheries of cities such as New Gurgaon have emerged as realty hotspots. In a testimony to the green shoots of recovery, sales of residential units in NCR increased by 24 per cent year-on-year to 9,016 units during the first six months of 2021, according to a recent PropTiger report.

The residential segment has witnessed an uptick in demand following the decline of the second wave of coronavirus. We foresee this momentum to sustain due to the regaining pace of business activities and revival of sentiment that will pave the way for growth by the end of this year. The initiatives by developers and conducive policy measures augur well for the residential demand to remain buoyant for the next 2-3 years. Going forward, location, amenities and superior lifestyle experience will be primary factors influencing a customers decision to buy a home,” said Ashok Kapur, Chairman, Krisumi Corporation.

Nevertheless, COVID-19 has proved to be an inflexion point for the sector, reaffirming the significance of homeownership against rental properties. The work from home has emerged as the dominant undercurrent for shaping homebuyers preferences. It has invariably prompted the rethinking of existing configurations in homes to accommodate a distinct workspace. Anticipating this trend at the beginning of 2021, we, at Krisumi, launched a new asset class 2BHK Plus Personal workspace in our flagship project, Krisumi Waterfall Residences, Gurugram. These residences are suited for the work from home (WFH) lifestyle for Indians working with multinational corporations and expatriates,” he added.

The Haryana government has undertaken a series of initiatives to propel the sector. Furthermore, proposed large-scale projects such as Delhi Mumbai Industrial Corridor (DMIC), Regional Rapid Transit System (RRTS) and industrial sub-cities along the Kundli Manesar Palwal (KMP) Expressway will further accelerate real estate growth in the region and lead to a multiplier effect on the local economy.

Flanked by Delhi – the national capital on one side and Manesar on the other, Gurugram’s strategic location has made it a residential hub. It enjoys connectivity to prominent landmarks such as Indira Gandhi International Airport and New Delhi Railway Station. It has also witnessed tremendous up-gradation in infrastructure and today houses renowned companies, retail spaces, entertainment and recreation options. Upcoming developments such as ISBT and the Gurgaon-Faridabad metro rail link will further bolster connectivity and spur real estate growth in the region,” Rahul Singla, Director, Mapsko Group, concludes.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Entrepreneur Stories

Industry-Academia-Government Collaboration is the Need of the Hour: Experts at PanIIT India Event

Avatar

Published

on

  • Ease of investment regulations and enhanced industry funding for research are the top priorities

  • Tamil Nadu CM, M.K. Stalin and J&K LG, Manoj Sinha graced the event as Guests of Honour

PanIIT India, an umbrella body representing the alumni of IITs, organized its flagship event – PI-WOT 2021Global Virtual Technology Summit on September 17th – 18th. The 36 hours long mega event with more than 100 eminent speakers, 15000 delegates and 10+ knowledge sessions witnessed compelling discussions on transformative technology and its adoption to generate empowering solutions for the world. The dialogues were facilitated through engaging verticals of seminars, hackathon competition and a startup showcase.

Shri M.K. Stalin, Hon’ble Chief Minister, Government of Tami Nadu, the Guest of Honour, addressed the event by saying, “IIT has made proud contributions in Tamil Nadu’s growth and stood firmly in finding pioneering solutions. The state has a favorable ecosystem with highly skilled youth, surplus solar power and most number of SEZs making it an ideal place for innovative enterprises. We would want PanIIT to continue to collaborate with us in becoming a technical hub for emerging technology.”

Guest of Honour, Shri Manoj Sinha, Hon’ble Lieutenant Governor, Jammu & Kashmir and an IIT BHU alumnus highlighted the rapid transformation triggered by technology and stressed upon the need for businesses and industries to adapt and keep pace with technological changes. Speaking on the reconstructive power of technology he added, “The days are not far when there wont be any electricity, electric cables or solar panels, as our windows, glass panels and roofs itself will generate electricity. Or the new education apps and modules with the help of artificial intelligence (AI) and robotics, will make the teachers obsolete wherever possible.”

Delivering the grand keynote, Asha Jadeja Motwani, Founder, Motwani Jadeja Family Foundation, shared her thoughts on the reforms required to cultivate the business environment in India. “As an emerging global power, India must accept global corporate norms in the country and partner with global powers like United States or Israel on military front and this is something that the IIT alumni and startups should keep on their radar.” Ashutosh Sharma, Secretary, Department of Science and Technology, Government of India, brought a policy perspective and said, “We need right kind of policies for Science, Technology, and Innovation and we can see that there are encouraging developments taking place at this front.”

After the completion of inauguration ceremony and keynote addresses, the Summit moved on to have dialogues on the key themes of technology – AI, Automation, IoT, Cloud, Virtual Reality, and Digitization via multiple seminars and the involvement of 100+ distinguished experts. In subsequent sessions, experts across sectors deliberated upon the current industry scenario, emerging trends, challenges, and recommendations to foster an enabling environment for deep science and deep tech to solve some of the most critical world issues.

Industry veterans, Kris Gopalakrishnan, Chairman Axilor Ventures, Co-founder Infosys; Desh Deshpande, Life Member, MIT Corporation and K Ananth Krishnan, CTO, TCS stressed upon the need for a deeper collaboration between the industry, academia, and government. Experts also felt that the government must ease out rules for global capital to come to India and highlighted that industry funding for research should increase in future for greater success.

Some of the prominent names from the industry, Dr. Aloknath De, CTO, Samsung R&D India; Irina Ghose, ED, Cloud Solutions, Microsoft, India; Sanjay Kaul, President, APAC & Japan, Service Provider Business, CISCO; Jeyandran Venugopal, CTO, Flipkart; Smita Ojha, Engineering Director, Google Workspace; Abhinav Sinha, Global COO & Chief Product Officer, OYO; Arun Chandavarkar, MD, Biocon Biologics Ltd.; Sumit Gupta, Co-founder and CEO, CoinDCX, were part of the discussions that took place in the two-day virtual affair.

Mr. Krishen K. Dhar, Chairman, PanIIT Alumni India in his address said, “First, I would like to congratulate the winners of Hackathon and Startup Showcase. We hope the winners can bring about empowering change through their innovations. Second, the aim of this summit was to establish dialogues on new & latest technologies and to bring different stakeholders under one roof and encourage collaborations. Through PIWOT 2021, we have been able to advance these objectives and would continue to do so in future as well.

About PanIIT

PanIIT is the umbrella organization of alumni of IIITs around the world, working towards building a knowledge pool of people and resources to address global challenges. It represents over 200,000 graduates from all the IITs, and has active chapters in the US, India, Europe, Canada, Australia and Singapore. With IIT alumnus is top positions in the private and public sector, civil services, research and development, academia, and doing illustrious work, PanIIT has an ambitious agenda to direct its resource pool to undertake impact-making initiatives to create a better tomorrow.

Continue Reading

Entrepreneur Stories

A Step towards Solving the Oxygen Crisis in Country, Albot Technologies Inaugurates O2 Plant in Pune

Avatar

Published

on

A 500 LPM oxygen plant was inaugurated by Mr. Ajit Pawar, the Deputy Chief Minister of Maharashtra on Friday. The plant has been made operational by Albot Technologies Pvt. Ltd. in collaboration with D.Y. Patil International University (DYPIU) and is installed in the premises of D Y Patil Dnyanshanti School, Akurdi. This marked a monumental milestone towards a future with sufficient oxygen supply. To refresh one’s memory, during the second wave of the pandemic, India had immensely struggled with a rampant oxygen shortage. A sustainable solution to tackle such a critical issue was the need of the hour.

Mr. Ajitdada Pawar cuts the ribbon on Albot Technologies O2 Plant

The list of guests of honour also included the likes of Dr. Sanjay Patil – President, Dr. D.Y. Patil Pratishthan, Mr. Satej Patil – Chairman & Vice President Dr. D.Y. Patil Pratishthan, and Minister of State, Govt of Maharashtra and Dr. Prabhat Ranjan, VC D.Y. Patil International University.

The plant has been engineered to produce over 500 Litres of Oxygen per minute. It employs the well-known Pressure Swing Adsorption (PSA) technique by which the enriched oxygen is generated from the ambient air while filtering out the nitrogen. With the PSA technique, an oxygen purity of 93% can be achieved. Once the oxygen is generated, it can be directly supplied to the hospitals and industrial sectors.

“Our objective is to strengthen the oxygen manufacturing capacity in the nation to forestall the consequences as seen in the second wave of the pandemic. We are viewing this from a multidimensional perspective; enhancing the supply chain while keeping an eye on the evolving demand too,” said Dr. Akash Singh, CEO, Albot Technologies.

Under the Corporate-University collaboration, Albot Technologies has been in a partnership with DYPIU for technology, infrastructure, and healthcare projects.

This collaboration is fueled by the purpose to serve the community in the face of the COVID-19 pandemic and to develop indigenous O2 plant technology for future use under the “Make in India” initiative.

The specialized PSA technique used for this Oxygen plant is a “clean technology“. The raw materials used for this technique are only air and hence there’s no risk of contamination. The oxygen supplied via this plant can be stored for long-term usage and it’s completely safe to use because the chemicals used in the process are non-toxic.

Along with the added advantage of its capacity to produce 500 liters per minute, this O2 plant aims to annihilate India’s oxygen crisis substantially.

Continue Reading

Entrepreneur Stories

Sirca Celebrates Jashn-e-Rang with Key Partners as they Believe ‘Ghar Hai Aapse’

Avatar

Published

on

Sirca, one of the leading Italian and premium wood coatings brands in India hosted an event for its dealers and distributors family on September 13. The colorful event was carried out by following all COVID protocols, and the company hosted this program to spread positivity among its stakeholders.

Sirca Celebrates Jashn-e-Rang Event

Named Jashn-e-Rang, Sirca organized this event to live up to the companys motto Ghar Hai Aapse With this event, the company made a positive move by showcasing how events can be carried out in a new normal scenario.

Apart from distributors, dealers, and stakeholders, Bollywood beauty Malaika Arora, and singer Khadke Glassy fame Ashok Masti also graced the occasion with their presence. “Even though the global pandemic has taken a toll on the entire business sector in India, Sirca believes in positivity, and we have now celebrated our past achievements by giving rewards and recognition to dealers and distributors. We also inaugurated our new office and manufacturing units, and it is a clear indication that business operations can be done without any toll in this new normal scenario. As the second wave of the pandemic has now waned in India, I strongly hope that all business operations will be bounced back strongly in the nation,” said Apoorv Agarwal, Sirca Joint Managing Director.

“When the pandemic badly affected the world of business, Sirca stood tall as an industry leader. By organizing this event, Sircas exuberance is a huge example and great inspiration for the market, it’s always a pleasure to partner with such a spirited brand,” said Darpan Sharma, CEO & Strategist, DigiStreet.

Continue Reading
Advertisement

Recent Posts

Advertisement