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Realty portal <keyword id="1960231" type="UNKNOWN" weightage="80" keywordseo="Housing-com">Housing.com</keyword> has appointed <keyword id="3104511" type="UNKNOWN" weightage="80" keywordseo="Mani-Rangarajan">Mani Rangarajan</keyword> as Chief Financial Officer (CFO) to strengthen its senior management team. 
 
Mani has held executive level roles in companies such as Citigroup and Yahoo. He has also been involved with several start-ups in India in advisory roles, the SoftBank-backed portal said. 
 
"A Silicon Valley veteran with over 20 years of experience, Mani will be responsible for driving the company's financial strategy and planning while also playing a key role on the senior management team," a company statement said. 
 Housing.com, which was founded in 2012, has made some major appointments at senior level after its board on July 1 this year sacked co-founder and then CEO <keyword id="536283" type="PERSON" weightage="80" keywordseo="Rahul-Yadav">Rahul Yadav</keyword>. 
 
Rishabh Gupta was appointed interim CEO in July, while Jason Kothari was appointed as the Chief Business Officer in August to drive the company's growth in India. In September, Housing.com appointed Keerthi Kiran as Vice President, New Real Estate Projects. 
 
"As an ambitious company that's evolving and growing, Housing.com's endeavour is to continually strengthen its senior management team. Mani brings with him, a rich and varied global finance and operational experience, which I believe will add significant value to the company and help steer our future strategy," company's interim CEO and COO Rishabh Gupta said. 
 
Mani holds an MBA from the Stanford University's Graduate School of Business, a PGDM from IIM Kolkota and is also a Cost &amp; Works Accountant, Mumbai-based Housing.com said. 
 
"In the short time since its inception, the company has already achieved many milestones both in terms of scale as well as innovation," Rangarajan said on his appointment. 
 
With presence in 50 cities and employing about 2,500 people, Housing.com provides independently verified listings of homes. It has raised over USD 100 million from investors, including Softbank. 
 
Image credit: Indiatimes

Housing.com appoints Silicon Valley veteran Mani Rangarajan as CFO

India is expected to see a rise in its <keyword id="6354852" type="POSITION" weightage="80" keywordseo="official">official</keyword> count of the poor in the country, thanks to the Government’s efforts to redefine the parameters of poverty, something that had created a huge ruckus in the previous UPA2 regime. The government has decided to review the poverty benchmark before it unrolls a comprehensive plan aimed at tackling the problem. 
 For this to tke effect, it has set up a task force, headed by <keyword id="2665691" type="UNKNOWN" weightage="80" keywordseo="Niti-Aayog">NITI Aayog</keyword> <keyword id="171576" type="POSITION" weightage="80" keywordseo="vice-chairman">Vice-Chairman</keyword> <keyword id="6366253" type="PERSON" weightage="80" keywordseo="Arvind-Panagariya">Arvind Panagariya</keyword>, to define poverty and prepare a road map to alleviate it, as per an Economic Times report. 
 Considering that the government has not officially accepted the threshold recommended by the C <keyword id="105900" type="ORGANIZATION" weightage="80" keywordseo="Rangarajan-committee">Rangarajan Committee</keyword>, it is likely that the expenditure level to classify citizens below and above the poverty line will be raised. The Rangarajan committee had recommended setting the threshold at Rs 32 per person per day for rural and Rs 47 for urban poor, compared with the existing levels of Rs 27 and Rs 40, said ET. 
 The Rangarajan committee’s suggestion that it was possible for a person to survive on Rs 32 a day was ridiculed across the board. The Rangarajan committee was set up by the <keyword id="46913" type="ORGANIZATION" weightage="80" keywordseo="Planning-commission">Planning Commission</keyword> under the Congress-led government to review a methodology suggested by <keyword id="6365396" type="POSITION" weightage="80" keywordseo="Economist">economist</keyword> <keyword id="107124" type="PERSON" weightage="80" keywordseo="Suresh-Tendulkar">Suresh Tendulkar</keyword> that had pegged the number of poor in India at 269 million. Rangarajan's formula saw it rising to 337 million, a number that found few takers because of the Rs 32 a day limit. 
 
The new task force report is likely to be in place by the end of June. "The 14-member taskforce, apart from the special invitees if any, has been asked to develop a working definition of poverty and to prepare a roadmap for its elimination," a senior government official told ET. 
 "The other mandate of the taskforce is to suggest strategies and anti-poverty programmes, including reforms of the existing ones."Key members of the taskforce include <keyword id="105648" type="PERSON" weightage="80" keywordseo="Bibek-Debroy">Bibek Debroy</keyword>, who is a permanent member of the NITI Aayog, social sector experts <keyword id="276856" type="PERSON" weightage="80" keywordseo="Rathin-Roy">Rathin Roy</keyword> and <keyword id="219461" type="PERSON" weightage="80" keywordseo="Surjit-Bhalla">Surjit Bhalla</keyword>, and <keyword id="143601" type="POSITION" weightage="80" keywordseo="Chief-Statistician">Chief Statistician</keyword> TCA Anant. 
 The secretaries of five central ministries, <keyword id="174274" type="POSITION" weightage="80" keywordseo="director-general">director-general</keyword> of the <keyword id="86474" type="ORGANIZATION" weightage="80" keywordseo="Unique-Identification-Authority-of-India">Unique Identification Authority of India</keyword> and two advisers from the Aayog too are part of the panel. The constitution of this central taskforce comes a month and half after <keyword id="71" type="POSITION" weightage="80" keywordseo="Prime-Minister">Prime Minister</keyword> <keyword id="6354477" type="PERSON" weightage="80" keywordseo="Narendra-Modi">Narendra Modi</keyword>, who is the <keyword id="6364480" type="POSITION" weightage="80" keywordseo="Chairman">chairman</keyword> of the NITI Aayog, convened the first meeting of its governing council in February and decided to set up teams in states to eliminate poverty. 
 
ET said, according to the official, the central taskforce will ensure that reports from states are available by June 15 and, thereafter, will process these reports to prepare its own report within two weeks. "Once we come out with the definition of poverty, the same would be used to estimate poverty in the country," the official said.

There will be many more poor people in India this year
than before. Here’s why

In a move to overcome the crippling shortage of gas and looking at the fact that India imports 25-30% of its requirement at $12-15 per mmBtu (million metric British thermal units) even today, the <keyword id="81848" type="ORGANIZATION" weightage="40" keywordseo="Ministry-of-petroleum-and-natural-gas">Ministry of Petroleum and Natural Gas</keyword> will recommend a hike in prices paid to local suppliers, such as <keyword id="6354737" type="CITY" weightage="80" keywordseo="ONGC">ONGC</keyword>, <keyword id="6487" type="CITY" weightage="80" keywordseo="Reliance-Industries-Ltd">Reliance Industries Ltd</keyword> (RIL) and <keyword id="59287" type="COMPANY" weightage="40" keywordseo="Cairn-India">Cairn India</keyword>. The decision is in keeping with the December 2012 recommendations of the <keyword id="105900" type="ORGANIZATION" weightage="40" keywordseo="Rangarajan-committee">Rangarajan Committee</keyword>. Based on this strategy, today’s price will be in the range of $8.50-9 per mmBtu. While the Congress-led <keyword id="26374" type="ORGANIZATION" weightage="60" keywordseo="UPA-government">UPA government</keyword> notified the decision on January 10 this year, it was not implemented after the 2014 <keyword id="6355187" type="ORGANIZATION" weightage="40" keywordseo="Lok-Sabha">Lok Sabha</keyword> election process began. Executing the Rangarajan formula will be the focus of the presentation that the <keyword id="46017" type="ORGANIZATION" weightage="40" keywordseo="Petroleum-ministry">Petroleum Ministry</keyword> will be placing before Prime Minister <keyword id="6354477" type="PERSON" weightage="40" keywordseo="Narendra-Modi">Narendra Modi</keyword> any time over the next few days. 

	Although the gas price hike has been opposed by many on the basis that it will raise electricity and fertiliser prices, this is only partially true. As one of the biggest beneficiaries of a price hike will be the government that will get more royalties/cess, it can partially subsidise the affected sectors.
 

	Notably, India’s gas imports are estimated to rise from the 25-30% levels now to 42% in FY 2017. Even though GAIL’s gas from the US is priced at the Henry Hub price of $4.50, it could be around $11-12 per mmBtu once liquefaction, regasification and transport costs are added.
 A study conducted by global consulting firm IHS Cera says 85% of India’s <keyword id="6354703" type="COMPANY" weightage="80" keywordseo="Natural-gas">natural gas</keyword> is viable only at prices above $10 per mmBtu. For instance, ONGC has asked for a price of $13 if it is to develop its Mahanadi block. 

	If gas prices are raised, an investment of $15-20 billion can be expected over 3-4 years. In fact, RIL, which has filed an arbitration case against the government for not implementing the Rangarajan formula, has committed to invest $8-10 billion during this timeframe and other companies may also chip in.

	(Image: Thinkstock)

Gas Price Hike Likely To Benefit Local Suppliers

<ul><li>The bull run in Indian equities that continued from mid-2020 up until late 2021 made good money for many investors and promoters along the way.</li><li>Companies like Latent View Analytics, MapmyIndia were amongst IPOs that made huge profits for investors.</li><li>Promoters of these firms added to their wealth through the successful IPOs and are now among India’s richest squad.</li></ul>The robust market for initial public offerings in 2021 has made fortunes for many investors as over 60 companies got listed on exchanges during the year. Companies like Latent View Analytics, MapmyIndia were amongst IPOs that made huge profits for investors. The bull run in Indian equities that continued from mid-2020 up until late 2021 made good money for many investors and promoters along the way. Analysts say the IPO frenzy is over and may remain still for some time. “I think the market flies but not for every company, for good companies there is still enough demand because overall sentiment of the market has changed. The IPO frenzy is now over as there has been a bit of mismatched expectations of promoters and investors who are asking for a fairly low value. Therefore promoters are thinking if they should list now or wait,” said Yatin Shah, co-founder &amp; joint CEO at IIFL Wealth. “This reconciliation factor, which is clearly seen among many founders and promoters which were thinking of the next value and today they are not getting that. This is specially for tech companies where 100% new demand is not there. This phase will continue for some time,” added Shah. Chairperson of data and analytics company registers a wealth of ₹5,500 crore post stellar IPO listing gains The IPO boom helped even chairperson and executive director, AV Venkatraman of LatentView Analytics aged 52 to enter the list of India’s richest man. Venkatraman is the richest new entrant in this software &amp; services sector with a wealth of ₹5,500 crore, as per IIFL Wealth Hurun India Rich List 2022 report. For those who don’t know, shares of Latent View Analytics made a strong listing on the National Stock Exchange (NSE) and BSE as it more than doubled investors' money by listing at 169% premium over the issue price. Interestingly, the company’s IPO witnessed one of the highest subscriptions by 326 times. The 15-year old company provides analytics services such as data and analytics consulting, business analytics and insights, advanced predictive analytics, data engineering, and digital solutions. Surat based company’s boss becomes richest man post IPO listing Another IPO star is Ashwin Desai aged 71, founding promoter and MD of <keyword id="12837738" type="General" weightage="20" keywordseo="Aether-Industries" source="Orion">Aether Industries</keyword>, which was launched in 2022 when the IPO frenzy was almost over. Desai debuted on the list of rich individuals with a wealth of ₹10,300 crore. The company managed to get listed on the Indian exchanges at a 9.99% premium supported by positive market momentum. Aether Industries — which is based out of Surat, Gujarat — focuses on producing advanced intermediates and specialty chemicals involving complex, differentiated chemistry and technology core competencies. Founder of digital maps company now among richest people in India with ₹4,300 crore wealth Rakesh Kumar Verma, founder &amp; MD of CE Info Systems the parent company of MapmyIndia secured the 371 spot in IIFL Wealth Hurun India Rich List 2022. Verma has a wealth of ₹4,300 crore. MapmyIndia, a pioneer in digital maps debuted on exchanges last year with a 53% premium. The IPO received strong response from investors as it was subscribed 154.71 times. The company is one of its kind that builds digital map data, telematics services, location-based software-as-a-service (SaaS) and geographic information system (GIS) services. First defence and aerospace entrepreneur to feature in the list of richest people after hit IPO Chief executive director of Chennai-based Data Patterns, Rangarajan S aged 64 is the first defence and aerospace entrepreneur to feature in the list. Rangarajan has registered a wealth of ₹2,700 crore. Data Patterns, an electronic solutions provider for the defence and aerospace segment, also made a strong debut on exchanges last year. The company’s shares were listed at 40% premium on exchanges after getting subscribed 119 times by investors. Incorporated in 1985, Data Patterns is an integrated defence and aerospace electronics solutions provider that caters to requirements across space, air, land and the sea. Data Patterns is among the top two players — in terms of profitability — providing solutions to the defence sector, first being Bharat Electronics. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/the-adani-effect-ambuja-cements-rallies-40-in-one-month-analysts-suggest-good-days-ahead-for-the-cement-industry/articleshow/94366341.cms">The Adani effect: Ambuja Cements rallies 40% in one month – analysts suggest good days ahead for the cement industry</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/adani-group-enters-into-a-no-poaching-pact-with-mukesh-ambani-led-reliance-industries/articleshow/94353862.cms">Adani Group enters into a no-poaching pact with Mukesh Ambani led Reliance Industries</a>

Four billionaires debut on rich list after IPOs

<ul class="summary-list"><li>The "milk crate challenge" has swept social media after going <keyword id="11896837" type="UNKNOWN" weightage="60" keywordseo="viral" source="Orion">viral</keyword> on <keyword id="11892960" type="UNKNOWN" weightage="60" keywordseo="facebook" source="Orion">Facebook</keyword> earlier this month.</li><li>Hashtags related to the challenge on <keyword id="11894125" type="UNKNOWN" weightage="60" keywordseo="tiktok" source="Orion">TikTok</keyword> have amassed over 71 million views.</li><li>Medical experts have said the "dangerous" challenge could lead to "life-threatening" injuries.</li></ul>A social media trend can lead to broken bones, spinal cord injuries, and bleeding inside the skull, according to a medical expert and TikToker.The trend involves stacking a number of milk crates in a pyramid in order to give it a stair-like shape. The "challenge" for the social media user is to walk across all the milk crates without them collapsing under the weight of the person and causing them to fall. Users' attempts are often live-streamed or filmed for social media platforms.Dr Karan Rangarajan, a general surgeon based in the UK, also posts informational myth-busting videos to <a href="https://www.tiktok.com/@dr.karanr?lang=en">4 million followers on TikTok</a>. He told Insider the challenge is "incredibly dangerous.""The milk crate challenge [...] poses a high risk of exposing yourself to orthopedic injuries as well as injuries to the head and neck as a result of falling from heights onto the ground or the crates themselves which can puncture the skin," he said."Injuries can range from broken bones, ligament injuries and dislocations to potentially life-threatening ones such as spinal cord injuries or intracranial bleeds [which is] a bleed inside the skull."Orthopedic surgeon Dr Shawn Anthony also <a href="https://www.today.com/parents/parents-should-know-about-dangerous-milk-crate-challenge-t228930">told Today</a> that he is "seeing many orthopedic injuries as a result of the falls [from these challenges]." "Injuries can include broken wrists, shoulder dislocations, ACL and meniscus tears, as well as life-threatening conditions like spinal cord injuries," he said.<h2>The trend began on Facebook, and quickly spread to TikTok</h2>The challenge appears to have originally risen in popularity on Facebook earlier this month before spreading to other platforms.On August 1, Facebook user Billy Joe posted two videos that appear to show him attempting to walk across the crates. Both times, the crates collapsed, with him falling and landing on his back. Combined, the two videos have over 750,000 views.On August 13, Facebook user <a href="https://www.facebook.com/kenneth.waddell.585/posts/234943905195516">Kenneth Waddell shared the videos</a> and tagged a user called Jordan Browne, suggesting that they imitate the actions in the video. On August 14, <a href="https://www.facebook.com/kenneth.waddell.585/videos/971007210142255">Waddell livestreamed</a> his and Browne's attempt at "the crate challenge" on Facebook, while Browne also <a href="https://www.facebook.com/jordan.browne.98499/posts/1002423610519362">posted a clip</a> from the same livestream later that day. The videos showed the pair climbing on the crates before falling, with Browne's video amassing over 800,000 views and over 9,000 reactions on Facebook.The challenge has since gained popularity on TikTok, with the hashtags #cratechallenge and #milkcratechallenge cumulatively reaching over 71 million views.One viral TikTok of the challenge posted on August 23 shows a woman appearing to "complete" the challenge while wearing heels. It has since amassed over 3 million views. On <keyword id="11892744" type="UNKNOWN" weightage="60" keywordseo="twitter" source="Orion">Twitter</keyword>, a video of a man dubbed "White Mike" appearing to complete the challenge while purportedly rolling a joint has been viewed over 9 million times since it was posted on August 21.A number of videos also depict people falling from a height as the crates collapse beneath them.Yesterday, Twitter user @SmittySpreadLuv <a href="https://twitter.com/SmittySpreadLuv/status/1429619570222960640?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1429619570222960640%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.ladbible.com%2Fnews%2Flatest-man-shows-brutal-injuries-after-trying-to-complete-the-crate-challenge-202108240824">tweeted</a> what appeared to be images of him applying an ice pack to extensive bruising across his back, along with the caption, "Man, f--- the crate challenge." The user, who goes by the name Renard Smith Sr. on Twitter, did not immediately respond to Insider's request for comment.<a href="https://www.insider.com/culture">For more stories like this, check out coverage from Insider's Digital Culture team here.</a>

TikTok's viral milk crate challenge can lead to 'potentially life-threatening injuries,' including broken bones and spinal cord damage, a doctor says

<ul><li>India is expected to overtake Germany to become fourth-largest economy in 2026. </li><li> It further said India is also set to reach a gross domestic product (GDP) of USD 5 trillion by 2026, 2 years later than the government's target. </li><li>Japan to become third largest in 2034.</li></ul>India is expected to overtake Germany to become fourth-largest economy in 2026 and Japan to become third largest in 2034, according a recent report by the UK-based Centre for Economics and Business Research (CEBR).
 It further said India is also set to reach a gross domestic product (GDP) of USD 5 trillion by 2026, 2 years later than the government's target.
 "India has decisively overtaken both France and the UK to become the world's fifth-largest economy in 2019. It is expected to overtake Germany to become fourth largest in 2026 and Japan to become the third largest in 2034," the report, titled 'World Economic League Table 2020', said.
 Japan, Germany and India will battle for third position over the next 15 years, according to the CEBR.
 Referring to Prime Minister Narendra Modi-led government's target of taking the economy to 5 USD trillion by 2024, it said, "India is also set to reach a GDP of USD 5 trillion by 2026 - 2 years later than the current government target."
 But, dark clouds gathering all over the economy are leading many to question the maintainability of the target.
 Recently, former Reserve Bank governor C Rangarajan, said that at the current growth rate, reaching the USD 5-trillion GDP target by 2024-25 is "simply out of question".
 Noting that Indian data revisions mean that 2019 was the year when the country's economy finally overtook the UK and France, the report said, "But, slow growth during the year has increased pressure for more radical economic reforms."
 Despite the rapid ascent of countries such as India and Indonesia, it is striking how little an impact this will have on the US and China's dominant roles in the global economy, said Pablo Shah, senior economist at Cebr.
 India, which till recently was hailed as the world's fastest-growing major economy, has seen growth rate decline to a six-year low of 4.5 per cent in the September quarter of 2019-20.
 This has largely been attributed to the slowdown in investment that has now broadened into consumption, driven by financial stress among rural households and weak job creation.
 The World Economic League Table is an annual calculation by Cebr jointly published by Cebr and Global Construction Perspectives. The base data for 2019 is taken from the IMF World Economic Outlook. BKS HRS

India might overtake Germany to become world's fourth largest economy, predicts CEBR

New Delhi, Apr 13 () Real estate sector, which is estimated to incur a loss of over Rs 1 lakh crore due to nationwide lockdown, is likely to see pay cuts and job losses as cash-strapped builders will look to reduce their fixed cost at a time when their sales revenue has almost come to a grinding halt, according to industry players. However, property developers and consultants believe that damage could be minimised if the government announces a big relief package for the industry as well as the overall economy. "Real sector is the second-largest employer after agriculture and provides for both blue and white collar jobs. Construction and other allied workers comprise a very important segment of the Realty Sector. There might be job losses and pay cuts," CREDAI (National) Chairman Jaxay Shah said. As of now, he said, the priority is to provide labourers with basic amenities."It's too soon to say anything on pay cuts as this will totally depend on how long the pandemic continues," Shah said. NAREDCO President Niranjan Hiranandani said: "There will be an obvious impact on sales, and that in turn will impact profitability of business organizations. So, a pay cut might be the first reaction across business organizations, some jobs being lost might be the second."He said revenues of developers, which had already been facing liquidity crunch, would be badly hit, resulting in defaults in repayment of debts. "If outstanding payments get defaulted on, and the numbers keep rising, companies may go bankrupt, this in turn will directly impact jobs. Before the COVID-19 pandemic, job losses were around 15 per cent of the total workforce, this may increase to 25 per cent," Hiranandani said.However, he said if the government soon announces a stimulus package, "Things may not end up being so bad, in terms of companies going bankrupt or jobs being lost." Puravankara Ltd MD Ashish Puravankara said, "While the listed players, like us, who are geographically de-risked and have diverse business portfolio, will be able to plan and organise the next steps; the current impasse may pose a problem in the long term for a few companies who might have to take some austerity measures in the shape of job losses or pay cuts."Home-grown property consultant Anarock Chairman Anuj Puri said there could be pay cuts and job loss if lockdown continues for a longer period. "If the lock down was to open in the next 1-2 weeks then we may not see as many job losses or pay cuts," he said.Anshuman Magazine, Chairman &amp; CEO - India, South East Asia, Middle East &amp; Africa, CBRE, said: "The Covid-19 situation is still evolving in India and it is too soon to comment on the impact it will have on the industry."Ramesh Nair, CEO &amp; Country Head, JLL India, said the company has taken many cost management actions to protect its employees and continue to serve clients. "JLL has a strong balance sheet and JLL's businesses in India and beyond are positioned to emerge with resilience from the challenges of the COVID-19 pandemic. To help ensure our company can continue to protect our people and serve our clients and shareholders now and when the economic and business environment improves, our leaders have agreed to take several prudent cost management actions," he said.This discipline would help the company to support its staff and clients across India through this challenging time and be ready for future opportunities, Nair said. Mani Rangarajan, Group COO, Housing.com, Makaan.com and Proptiger.com, said job losses and pay cuts in the sector will remain limited. He expects real estate to gain renewed interest from both end users as well as investors because of sharp correction in other investment tools like the equity market. Manoj Gaur, MD, Gaurs Group, said the company has been performing well in terms of sales from the last 3-4 years and disruption of a few months will not have any major impact on financial strength of the company.Nayan Raheja, Executive Director, Raheja Developers said: "We are waiting and watching on the current situation and how long the lockdown continues to take any definitive call on this matter. However, at the moment all labour and staff are being supported."He demanded that the government should restructure existing loans of the builders. Ashok Gupta, CMD, Ajnara India, said, "These are tough times, but we are standing strongly with our employees amid this crisis."NCR-based KW group Director Pankaj Jain said: "As of now we are not deducting salaries of our employees. In the current situation, we all need to support each other. Companies must show more empathy towards their staff."Akshay Taneja, MD, TDI Infratech, said, "It is too early to take a call." MJH MR

Realty players fear pay cuts, job losses as lockdown hits revenue

<keyword id="1960231" type="UNKNOWN" weightage="20" keywordseo="Housing-com">Housing.com</keyword> and <keyword id="713731" type="COMPANY" weightage="20" keywordseo="Makaan-com">Makaan.com</keyword> have rolled out their rentals offering. Following its recent merger with PropTiger, this move is expected to strengthen Housing.com’s position within the real estate ecosystem. The rental feature on Housing.com has been enhanced with new features aimed at improving the overall experience for home seekers. One of the features is ‘Activity’ which keeps track of agents you contact and takes feedback to ensure availability of listed homes. Users can also keep track of messages to agents directly from the website. This would not only help users get what they want, but will also significantly reduce the time, energy and money spent on finding a house. Within the next one month the app will be launched adding new features and enhancing the overall functionality of the rental offering. Recent industry trends indicate that the demand for affordable rental properties has steadily increased over the past six months. As per latest industry figures, the residential property market across Mumbai, Delhi, Bengaluru, Pune and Chennai witnessed an increase of 8 to 12% in average weighted rental values against capital values for the year 2016. Mani Rangarajan, Chief Business Officer – Platform Business Unit, Housing.com said, “The reintroduction of rentals is a very strategic decision for us, both from a brand salience and business perspective. We are certain that this step will take us closer to our objective of becoming the preferred real estate platform for everyone looking for a home.”

Housing.com re-launches rental business; aims to achieve triple listings

NEW DELHI: <keyword id="6355261" type="POSITION" weightage="40" keywordseo="Finance-minister">Finance minister</keyword> <keyword id="43940" type="PERSON" weightage="40" keywordseo="P-Chidambaram">P Chidambaram</keyword> has opted out of the <keyword id="6355187" type="ORGANIZATION" weightage="40" keywordseo="Lok-Sabha">Lok Sabha</keyword> contest, with <keyword id="1575" type="ORGANIZATION" weightage="80" keywordseo="Congress">Congress</keyword> announcing his son Karthi as the candidate from Sivaganga constituency in Tamil Nadu. Kirit Patel will take on BJP patriarch LK Advani in <keyword id="6356847" type="CITY" weightage="40" keywordseo="gandhinagar">Gandhinagar</keyword> in Gujarat. 
 The passing of baton in Sivaganga caps the intense speculation on <keyword id="6362104" type="PERSON" weightage="60" keywordseo="Chidambaram">Chidambaram</keyword>’s candidature in the wake of Congress’s bleak prospects in the state owing to its failure to find an ally. Congress fought the last two elections with DMK and reaped a rich tally, disproportionate to its weak organizational muscle in the state. 
 
The leg-up for the GenNext extends to another of the state’s political family. Mohan Kumaramangalam, son of former Union minister Rangarajan Kumaramangalam, is the rookie to contest from Salem. 
 In what may have the making of an interesting contest, Laxman Singh has been named from Vidisha to take on leader of opposition in Lok Sabha <keyword id="6355111" type="PERSON" weightage="40" keywordseo="Sushma-Swaraj">Sushma Swaraj</keyword> in Madhya Pradesh. Singh is a former MP and the brother of AICC general secretary <keyword id="43786" type="PERSON" weightage="40" keywordseo="Digvijay-Singh">Digvijay Singh</keyword>. 
 
Congress announced sitting MPs Ramesh Kumar and Mahabal Mishra from South Delhi and West Delhi, a decision which means that all seven party MPs from the capital would be taking the field in the Lok Sabha polls. 
 
The names of Kumar and Mishra were held back in the earlier list which gave the go ahead to five other MPs, raising the possibility of their being replaced. However, the party leadership has settled for the status quo, finding that any attempt to change the candidate would skew the caste balance it wants in its representation in the apital. 
 The reprieve for the two comes after Congress mulled possible options to sitting MPs. The <keyword id="447980" type="ORGANIZATION" weightage="40" keywordseo="Central-Election-Committee">Central Election Committee</keyword> of the party had taken exception to the routine manner in which the MPs were recommended for renomination and had asked the Delhi managers to submit a panel of possible candidates. 
 
Union health minister and senior Congress leader Ghulam Nabi Azad would contest from Udhampur in Jammu and Kashmir. He replaces MP Lal Singh Chaudhary. 
 
Congress has also replaced Paranjayadityasinh Parmar from Panchmahals in Gujarat with Ramsingh Parmar. Paranjayaditya is the son-in-law of Congress general secretary Digvijay Singh and his nomination in the previous list of candidates had sparked unrest, leading to clarification from the state leadership that it was an oversight. 
 <keyword id="6364961" type="POSITION" weightage="40" keywordseo="Rajya-Sabha-MP">Rajya Sabha MP</keyword> and former union minister Mani Shankar Aiyer will contest from Mayiladuthurai that he represented in Lok Sabha before losing in 2009. 
 
Expelled JD(U) MP Purnmasi Ram will be the Congress candidate from Gopalganj reserved seat in Bihar. Also, Congress’s Tsering Samphel will contest from Ladakh seat in J&amp;K.

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