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<ul><li>Mumbai Metropolitan Region (MMR) saw its average flat sizes reduce to 743 sq. ft. in Q1 2023, from 932 sq. ft. in 2018. </li><li>Average flat sizes in the top seven cities have risen by 7% to about 1,225 sq. ft. in Q1 2023.</li><li>On a yearly basis, the average flat sizes in the top seven cities in Q1 2023 rose 5%</li></ul>New flat sizes in the financial capital of India, Mumbai, have shrunk by 20% in the last five years bucking the trend of consumers preferring larger homes in the rest of the top seven cities, as per real estate services provider Anarock. Mumbai Metropolitan Region (MMR) saw average flat sizes reduce to 743 sq. ft. in the first quarter of 2023, from 932 sq. ft. in 2018. "In these five years, only 2020 saw average flat sizes in MMR see an annual rise of 21% against 2019. Since 2020, homes in the region are shrinking,” said Anuj Puri, chairman, Anarock Group. However, this is an outlier. Despite rising property prices, average new flat sizes grew by 7% in the other top metros of India – to about 1,225 sq. ft. in Q1 2023 from about 1,150 sq. ft. in 2018. <cmsannotation type="cmsannotation" annotationid="Hyderabad, NCR: Size matters" comment="subhead" text="Hyderabad, NCR: Size matters">Hyderabad, NCR: Size matters</cmsannotation> Among the top seven cities, the national capital region (NCR) saw the highest growth in average flat size in the last five years – from about 1,250 sq. ft. in 2018 to about 1,700 sq. ft. in Q1 2023. When it comes to the highest average flat size, Hyderabad tops the list with about 2,200 sq. ft. in Q1 2023, followed by NCR. “Before Covid-19, apartment sizes were shrinking annually to meet the demand for compact homes prevalent then," said Puri. "The central concerns were affordability and millennials’ preference for low-maintenance homes. 2020 saw an abrupt reversal of buyer preferences. With a sudden emphasis on the WFH and study-from-home culture, flat sizes began increasing for the first time in four years.” On a yearly basis, the average flat sizes in the top seven cities in Q1 2023 rose 5% – to about 1,225 sq. ft. from about 1,170 sq. ft. in Q1 2022. MMR and Chennai were the exceptions as they saw a 6% and 5% decrease, respectively, in average flat sizes during the period. “A perception among developers that there is currently sufficient existing supply of larger format homes may be a factor,” said Anarock, explaining the decrease in MMR as well as Chennai. “Also, while MMR is hyper-expensive, Chennai is a very cost-sensitive market. In both instances, increasing the supply of smaller, more affordable homes makes sense. <cmsannotation type="cmsannotation" annotationid="New construction, better space" comment="subhead" text="New construction, better space">New construction, better space</cmsannotation> On a yearly basis, NCR saw average flat size rise 50% in Q1 2023 while Kolkata saw flat sizes increase by 44% to 1,150 sq. ft. in Q1 2023. While Hyderabad saw average flat size increase by 29% in the year, Pune saw a 16% yearly increase to 1,013 sq. ft. in Q1 2023, and Bengaluru saw a 8% yearly jump to about 1,300 sq. ft.

Mumbai flat sizes have shrunk 20% in past five years but other metros show improvement

<ul><li><keyword id="6361772" type="General" weightage="50" keywordseo="mumbai-metropolitan-region" source="Orion">Mumbai metropolitan region</keyword> recorded the highest sales of 26,400 units, followed by <keyword id="53426" type="General" weightage="80" keywordseo="ncr" source="Orion">NCR</keyword> at t14,970 units. </li><li>Mumbai, <keyword id="6354552" type="General" weightage="80" keywordseo="hyderabad" source="Orion">Hyderabad</keyword>, <keyword id="2094" type="General" weightage="80" keywordseo="pune" source="Orion">Pune</keyword> and Bengaluru accounted for highest new property additions. </li><li>Based on price range, the survey estimated that 36% of total new supply was in the mid-segment (₹40-80 lakh). </li></ul>Real estate sales across India’s top seven markets have recorded a quarterly growth of 4% during September quarter, boosted by an improvement in homeownership sentiment post pandemic, according to real estate services firm <keyword id="4695749" type="General" weightage="80" keywordseo="anarock" source="Orion">Anarock</keyword>. On a year-on-year basis, this growth surged 41%. Overall, 88,230 units were sold in the quarter against 84,930 units in the preceding quarter and 62,800 units in Q3 2021. “The appetite for homeownership has remained undeterred, with maximum sales being driven by end users. There has been increased new supply by the leading and listed developers, who also reported robust housing sales. This trend will very likely continue in the upcoming festive quarter as well since homeownership sentiment has increased hugely post the pandemic,” <keyword id="6420759" type="General" weightage="50" keywordseo="anuj-puri" source="Orion">Anuj Puri</keyword>, chairman, <keyword id="6596330" type="General" weightage="50" keywordseo="anarock-group" source="Orion">Anarock Group</keyword>, said. Mumbai Metropolitan Region (<keyword id="6381620" type="General" weightage="80" keywordseo="mmr" source="Orion">MMR</keyword>) sold the most units – at 26,400 – among the top seven cities, registering a year-on-year growth of 26%. While Delhi sold fewer units at 14,970 as compared to MMR, in percentage terms its sales went up 46% annually. Pune registered a quarterly sales growth at 3% and annually, its growth stood at 45%. NCR, MMR, Bengaluru, Pune, and Hyderabad together accounted for 90% of the sales for the quarter. The sales in Chennai and Kolkata made up 10% of the total sales. Residential property prices across these top seven cities registered a quarterly increase in the range of 1-2% in Q3 2022. On an annual basis, prices have risen in the range of 4-7% primarily due to an increase in input costs and demand comeback post Covid, Anarock said. Mumbai, Hyderabad top new unit additions MMR is also on the top when it comes to new properties. The region added 36,000 new units in the quarter and overtook Hyderabad – the city which ranks second in terms of new additions – by a large margin. Hyderabad added 15,530 units during the quarter, while in NCR, it was much lower at 6,400 units. MMR, Hyderabad, Pune and Bengaluru together accounted for 86% of the total new property additions, says Anarock. As many as 93,500 new units were launched across the top seven cities, against 82,100 units in the preceding quarter — registering a 14% growth. On a yearly basis, there was a 45% jump of new real estate property launched. In Q3 2021, 64,560 units were launched in the top seven cities across the country. Analysing based on price segments, the survey estimated that 36% of total new supply was in the mid-segment (₹40-80 lakh), 28% in the premium segment (₹80 lakh-₹1.5 cr); 18% each in the luxury and affordable segments. The impact of <a href="https://www.businessinsider.in/business/news/here-is-how-much-your-emi-will-go-up-after-the-recent-repo-rate-hike/articleshow/94552904.cms">increasing</a> interest rates on home loans, however, is yet to be seen. “However, if inflation remains at elevated levels forcing RBI to aggressively increase interest rates, there might be some turbulence in the market,” Puri said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indian-corporate-credit-quality-remains-strong-in-h1-of-fy23-crisil/articleshow/94613479.cms">Indian corporate credit quality remains strong in H1 of FY23: CRISIL</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/jiobook-a-4g-enabled-budget-laptop-is-expected-to-launch-soon-at-15000/articleshow/94613338.cms">JioBook, a 4G-enabled budget laptop is expected to launch soon at ₹15,000</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/durga-puja-in-wb-is-a-grand-economic-activity-estimated-to-generate-40000-crore-transactions-3-lakh-jobs/articleshow/94613128.cms">Durga Puja in WB is a grand economic activity - estimated to generate ₹40,000 crore transactions, 3 lakh jobs</a>

Mumbai tops real estate sales and new launches in September quarter

<ul><li>Xiaomi recently introduced the Xiaomi 14 series in India</li><li>Xiaomi 14 features a much-talked-about Leica camera setup</li><li>The smartphone is powered by Qualcomm Snapdragon 8 Gen 3 </li></ul>Xiaomi surprised everyone in the market when they simultaneously introduced both the 14 &amp; 14 Ultra in India, breaking away from the norm. Up until now, we have always seen only one of the Xiaomi flagship number series devices showing up in India. Last year it was just the 13 Pro and not the 13 Ultra. This was a long time coming, considering brands like Vivo, with their X100 &amp; X100 Pro, have already made this move. While this isn’t a comparison piece between any smartphone brand or device, I can safely say this is the best time to be a smartphone enthusiast in India — more competition, more options! While the 14 Ultra is yet to be seeded to us for review, the Xiaomi 14 has been my daily driver for close to 2 weeks now. Sharing the same chipset and optical DNA with its elder sibling, this device is the closest I have gotten to a compact, efficient, and mighty powerful smartphone, apart from the commendable camera specifications. But like anything, it’s not perfect. where does it lack? And what makes it special, I tell you in my detailed review. Price and availability Xiaomi 14 is available only in one specification, 16GB RAM and 512GB of internal storage. It is priced at ₹69,999 and is available on Amazon, Flipkart and Xiaomi’s official website. It is also available on select offline stores. Design and build <div type="image" title="The compact form factor makes the device easy to hold." msid="108468249" hostid="261" sizebytes="43320" caption="&amp;lt;p&amp;gt;The compact form factor makes the device easy to hold.&amp;lt;/p&amp;gt;"></div> Xiaomi 14 swims against the current in terms of size. Unlike the usual flagship screen size of 6.7-inches or above the 14 sticks to a modest 6.3-inches. Some people might dub it compact, but I think it's well-balanced. Yes, a bigger display is generally favourable for watching content, but it also comes with a bigger form factor. Something many users including myself can’t enjoy for long. This is also one of the reasons why my primary SIM is in the iPhone 15 Pro, that size is perfect to carry around everywhere. <div type="image" title="The camera module houses Leica triple camera set-up." msid="108468294" hostid="261" sizebytes="36548" caption="&amp;lt;p&amp;gt;The camera module houses Leica triple camera set-up.&amp;lt;/p&amp;gt;"></div> Xiaomi 14’s size gave me the confidence to use my primary SIM in it, something I haven’t done in a while. And of course, you do get other benefits attached to a compact smartphone, like lighter weight. So far in my testing and living with the device I haven’t felt the need for a bigger display, because for me these benefits outweigh any other aspect. Xiaomi has done a good job by combining this form factor with a stellar build quality. The device, although compact, feels like a tank, with a really impressive combination of materials put together. Sporting an aluminium frame, it is protected with Corning Gorilla Glass Victus upfront and comes with a silicone or glass back. I have the black variant with me, which has a silicone back with a matte finish, it looks good but can register smudges. On the back, we also have a fairly big camera module housing the Leica triple camera set-up. The housing unit is square, similar to what we saw on the 13 Pro, unlike what we see on the 14 Ultra. It is protruding but doesn’t wobble much especially once you put in a case. Volume rockers and the power button on the right edge are placed neatly. And since the size is favorable it's easy to reach the buttons with one hand. At the bottom, you have the SIM card tray that can house 2 nano SIMs and a downward-facing speaker grill. It also supports IP68 dust and water resistant rating, so yes you are secure in that aspect as well. Overall, Xiaomi 14’s design will grow on you and has a solid potential to become your preferred form factor over a period of time. Display, audio and viewing experience <div type="image" title="The flat screen makes the Xiaomi 14 a delight to type on." msid="108468359" hostid="261" sizebytes="44960" caption="&amp;lt;p&amp;gt;The flat screen makes the Xiaomi 14 a delight to type on. &amp;lt;/p&amp;gt;"></div> In 2023, curved displays dominated the tech scene, but the industry is now making a shift back to flat-screen displays, especially in flagship devices like the S24 Ultra. The 14 series embraces both trends, offering a flat display on the 14 model and a curved screen on the 14 Ultra. I prefer a flat display for its typing convenience, and the 14 meets that preference perfectly with its ideal size, sharp display, and highly responsive feedback. The Xiaomi 14 comes with a 6.3-inch LTPO OLED display boasting a resolution of 1200 x 2670 pixels. The bezels are virtually nonexistent, presenting a stunning visual experience. Xiaomi emphasized that this display isn't just for content consumption but also for viewing photos. With 3000 nits of peak brightness, the display remains clear and visible in varying lighting conditions, be it Delhi's varying visibility range or Mumbai’s unpredictable weather. The auto-brightness feature on the 14 works exceptionally well, adapting to changes in ambient light effectively. The display supports Dolby Vision, enhancing both video and audio output noticeably. The high-definition content compatibility allows a satisfying viewing experience, and the device's audio setup matches its stature, featuring a dual speaker system that can reach impressive volumes. The responsive display, especially during typing, is an underrated but notable feature. The default keyboard is precise and responsive, adding to the overall user experience. With a maximum refresh rate of 120Hz and support for adaptive refresh rate, the display smoothly transitions between different tasks, ensuring a lag-free experience. The in-display fingerprint sensor, though optical and therefore slightly delayed compared to ultrasonic sensors, offers an additional security option. Face unlock, on the other hand, provides instant and mostly accurate access. Before concluding this section, I have to address the buzz around the screen size here. Yes, it is a 6.3-inch screen and it might not be the best size for some. I personally didn’t find myself complaining about the size while watching content, but if you read a lot from your smartphone then you will not be a fan of this device. Another aspect is if you are an avid gamer, yes you will adapt to the size overall, but a bigger surface area ensures more room to set up your controls. For me, these are not deal breakers, but for some of you, it might be! Software and performance <div type="image" title="Xiaomi 14 combines Hyper OS with Android 14." msid="108468403" hostid="261" sizebytes="41432" caption="&amp;lt;p&amp;gt;Xiaomi 14 combines Hyper OS with Android 14.&amp;lt;/p&amp;gt;"></div> Out of the box, the Xiaomi 14 is equipped with Android 14, coupled with the all-new Hyper OS. Although currently more of an aesthetic overhaul, Xiaomi has ambitious plans to build an ecosystem around this software, with the EV SU7 already operating on the same OS, promising an exciting future. Aesthetically, the user interface (UI) bears a resemblance to typical MiUi, with some distinctions, particularly in widget design. However, it still carries some bloatware, albeit offering a smoother experience overall. In terms of usability, the Hyper OS on the Xiaomi 14 proves to be remarkably stable and devoid of bugs. As expected from a flagship device, there are no intrusive pre-loaded apps that might compromise the user experience. The UI is clean, visually pleasing, and easily customizable. The impressive display of the Xiaomi 14 enhances the visual appeal of legacy features like theme access, wallpapers, and customization options. One standout feature is the game turbo, offering stability and instant functionality. It provides options for screen recording, screenshot capture, and custom profiles, making the Xiaomi 14 a delightful choice for gaming enthusiasts. While there are some notable areas for improvement, such as the floating windows feature that allows users to pin windows on the screen, it generally functions well across various applications. The integration of AI is significant this year, with Samsung introducing Galaxy AI features in the S24 lineup. While not a deal-breaker, there is anticipation for future enhancements, especially with Hyper OS in the equation. Regarding updates, Xiaomi commits to a respectable 4 years of Android updates and 5 years of security updates. Although generous, it falls short when compared to Samsung Galaxy S24's promise of 7 years on both fronts. The Xiaomi 14 is fueled by the Qualcomm Snapdragon 8 Gen 3 SoC, marking my second encounter with this processor within the past two months. Having previously tested it on the Samsung Galaxy S24 Ultra, and now on the 14, I continue to be impressed by its seamless integration with diverse hardware. The performance of the Xiaomi 14 is predictably rapid, evident in favourable benchmark results. A Geekbench 6 test yielded a single-core score of 2153 and a multi-core score of 6455. While the average user may not immediately discern the performance disparities, I noticed reduced throttling and heat generation during my extensive use. Playing COD: Mobile every day showcased the device's stability, maintaining optimal graphics with no frame drops or surprises. The combination of robust performance and the previously mentioned game turbo in the software section underscored the smartphone's commendable gaming capabilities. <div type="image" title="Hyper OS follows a minimalistic design." msid="108468600" hostid="261" sizebytes="42352" caption="&amp;lt;p&amp;gt;Variable focal lengths with Leica lenses add to the experience. &amp;lt;/p&amp;gt;"></div> In India, the single configuration offering of 512GB internal storage and 16GB RAM might seem excessive for most users, but those consistently working with heavy formats like 4K or 8K videos may even find the storage capacity falling short. So, this is a welcome improvement compared to the 256GB internal storage of the previous year's 13 Pro. The RAM effortlessly handles all tasks, eliminating the need for fusion memory. The 4610 mAh battery has proven resilient during a week of testing, providing an average screen-on time of 6 hours, even with a weekend filled with continuous content consumption, social media usage, and calls. This surpasses the performance of the Galaxy S24, a device known for its impressive battery life. The 120W charger efficiently replenishes the battery from 0-100% in about 40 minutes, without causing undue heat. Additionally, the Xiaomi 14 supports 50W of wireless charging, although the wired option proves to be quicker. Camera, a star highlight? <div type="image" title="Variable focal lengths with Leica lenses add to the experience." msid="108468618" hostid="261" sizebytes="37076" caption="&amp;lt;p&amp;gt;Variable focal lengths with Leica lenses add to the experience. &amp;lt;/p&amp;gt;"></div> Xiaomi 14’s camera set-up has completely been swapped and upgraded over its predecessor. We now have a 50MP primary camera paired with a 50MP telephoto sensor and a 50MP ultra-wide sensor. The novel OmniVision OVX9000 sensor for the primary camera is a first-time inclusion. Significantly larger, Xiaomi aptly names it Light Fusion 900. Xiaomi has assured users that the Xiaomi Imaging Engine guarantees uniformity in tone across all cameras by deriving white balance and exposure and so far I believe them. Throughout daylight hours, the primary camera achieves image quality on par with flagship standards. It encompasses sharpness, intricate details, expansive dynamic range, and precise colour reproduction while maintaining consistent performance both outdoors and indoors. Certainly, there are instances where the results appear slightly oversaturated. However, the overall details remain exceptional and the intricate details are well-preserved. Even upon zooming in, the details remain intact until the final pinch, where some distortion begins. The camera's focus shift is also praiseworthy. I tested this by capturing a model in motion within a single frame, and the camera maintained a consistently sharp focus throughout. Colour science plays a crucial role, especially when photographing individuals with varying skin tones. In the samples provided, the camera subtly enhances the skin tone, imparting a lighter complexion without deviating significantly from the original. Users can mitigate this effect by utilizing the pro mode, allowing adjustments for a more customised result. Night photography remains consistently strong, having been tested in both low-light conditions and under artificial lighting. As evident in the collage below, the camera excels in capturing details, although achieving the perfect shot may require some patience. Moving on to the 50MP telephoto lens with floating lens technology, it's important to note that while it may not match the Galaxy S24 Ultra in terms of detail, it unquestionably gets the job done. The floating lens technology becomes apparent when the camera surpasses expectations, as illustrated in the collage featuring samples at 0.6X, 2X, 10X, 30X, and 60X, with a noticeable colour shift at the 30X mark. The details remain impressive, only slightly diminishing at the brink. In the realm of portraits, the Xiaomi 14 truly shines, especially for enthusiasts of monochrome portraits. Multiple images captured with the device are magazine-cover worthy, with the portrait results being stunning, thanks to the master-lens system presets available in the camera app. The black &amp; white filter with the documentary 35mm setting is a standout, closely followed by the swirly bokeh at a 50mm focal length. The 75mm portrait shots are solid, standing out as some of the best in the price range. The super macro mode, under natural lighting, proves impressive, delivering detailed images suitable for wallpapers. As depicted in the samples below, the colours are accurate, and the details are finely preserved. While the camera's video capabilities may not rival those of an iPhone 15 Pro, it stands out as one of the strongest on an Android device in recent memory. Shooting a B-roll for a video at 4K 30FPS yielded clean results, though the saturation issue, particularly with reds standing out, persists. While the camera can record up to 8K videos, opting for 4K is advisable to avoid heavier files and potential heating issues. Turning the selfie camera, equipped with a 32MP sensor, it may pale in comparison to the primary setup, but it still delivers sharp images as a standalone unit. However, it tends to soften skin tones, imparting an artificial appearance, especially when AI is enabled. While the AI enhancement is well-executed, it may not align with personal preferences. Verdict Xiaomi 14 ticks the boxes in every possible category you look for in a smartphone. With a well-developed camera system, a brand-new intricate UI, efficient performance hardware and a respectable size. The performance-hungry users and users with optics as a priority have something to root for with this device. However, I understand that screen size is an important factor for many users, which is fair. In that case, I recommend the OnePlus 12 which falls in the same price segment. The camera performance there is also competitive and perhaps a more stock UI will add to the appeal as well. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/asus-rog-strix-scar-16/slidelist/107873658.cms">Asus ROG Strix Scar 16 – powerful hardware at a premium</a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8-pro-review/articleshow/107726935.cms">Pixel 8 Pro review: ‘Okay Google’ – The flagship smartphone ticks almost all boxes</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-review/articleshow/106961567.cms">OnePlus Open review – Feature-packed foldable in a premium design</a>

Xiaomi 14 Review — With a camera that never fails, can the latest flagship phone overcome the screen size barrier?

<ul><li>Delhi-NCR’s luxury unit sales saw the highest surge registering a 197% YoY increase.</li><li><keyword id="19897309" type="General" weightage="20" keywordseo="pune" source="keywords">Pune</keyword> came a close second as its luxury home sales surged by 144% in the December quarter.</li><li>Mumbai and <keyword id="19900176" type="General" weightage="20" keywordseo="hyderabad" source="keywords">Hyderabad</keyword> also saw a double digit growth in luxury home sales. </li></ul>Size does matter for Indian real estate buyers. Across India’s top seven cities, sales of luxury homes (that cost over ₹4 crore), went up by 75% YoY in the December quarter, says CBRE. But two cities stood out. Delhi-NCR’s luxury unit sales saw the highest surge registering a 197% YoY increase, while Pune too came close by with a sharp 144% rise. Hyderabad and Mumbai also saw a double digit increase by 64% and 23.5% respectively, as per data by CBRE. "A 75% surge in luxury unit sales and a substantial 45% rise in launches underscore the sector’s vibrancy. The evolving market dynamics, especially in key cities like Delhi-NCR, Mumbai, Pune, Hyderabad, and <keyword id="19940209" type="General" weightage="20" keywordseo="bangalore" source="keywords">Bangalore</keyword>, reflect a nuanced demand for high-end residences,” said Anshuman Magazine, Chairman &amp; CEO - India, South-East Asia, Middle East &amp; Africa, CBRE. Bangalore, Chennai and <keyword id="19896626" type="General" weightage="20" keywordseo="kolkata" source="keywords">Kolkata</keyword> saw a flat growth in luxury home sales in the quarter ending December. The percentage share of the luxury segment in the overall residential unit sales stood at 4% in 2023, nearly doubling its proportion of 2% in 2022. “This surge further signals the growing appetite of High Net Worth Individuals (HNIs) for luxury real estate investments, spurred by their aspirations for a refined lifestyle, the need for portfolio diversification, and the desire to preserve wealth over time. Luxury residential remains a cornerstone of their investment strategy, promising not just financial returns but also a legacy of prestige and prosperity for generations to come," says Reeza <keyword id="20584281" type="General" weightage="20" keywordseo="sebastian" source="keywords">Sebastian</keyword>, executive president - Residential, Embassy Group Mumbai, Pune rule home sales In the October to December quarter, overall 86,000 residential units were sold, and 90,000 units were launched. In Q3, new unit launches recorded around 22% YoY increase and about 26% growth on a quarterly basis. Premium and luxury segments accounted for about 10% and 4% shares, respectively, during this period. Pune recorded the highest residential sales overall during the quarter with a 24% share, followed by Mumbai with about 21% share. Delhi-NCR and Hyderabad accounted for about 17% and 15% of the market, respectively. Mumbai also took the lead with a 27.5% share in new launches, closely followed by Hyderabad with 26.9%, and Pune with 19%. For 2023, the overall residential sales across price categories exceeded 3.22 lakh units in 2023, registering a 9% YoY growth. Sustained momentum in demand also led developers to launch over 3.13 lakh new housing units in 2023, a 6% YoY increase. Mid-end projects emerged as the leading category driving sales, recording a 45% share in total sales for 2023, followed by high-end and affordable projects. Pune, Mumbai and Bangalore cumulatively accounted for 61% of the total sales. Unit launches in Mumbai, Pune, and Hyderabad, on the other hand, accounted for a 67% share during 2023.

Luxury homes in vogue and Delhi, Pune are in top gear

<ul><li>A total of 57 malls across the top eight cities in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> lie largely unused. </li><li>The highest number of ghost malls are in <keyword id="66" type="General" weightage="50" keywordseo="delhi" source="Orion">Delhi</keyword> <keyword id="53426" type="General" weightage="50" keywordseo="ncr" source="Orion">NCR</keyword>, <keyword id="2094" type="General" weightage="80" keywordseo="pune" source="Orion">Pune</keyword> and <keyword id="6354552" type="General" weightage="50" keywordseo="hyderabad" source="Orion">Hyderabad</keyword>. </li><li>Apart from the ghost malls, the overall mall health has improved post pandemic with their numbers increasing from 255 in 2018 to 271 currently. </li><li>Organised retail sale volumes expected to reach $136 billion by FY28. </li></ul>A total of 57 malls, or 21% malls, across the top eight cities in India are in a dilapidated state and have resulted in a loss of over $524 million, according to <keyword id="151748" type="General" weightage="50" keywordseo="knight-frank-india" source="Orion">Knight Frank India</keyword>’s latest report ‘Think India, Think Retail 2022’. If a mall has a vacancy of more than 40%, it’s defined as a ‘ghost mall’. The highest number of ghost malls are in Delhi NCR , followed by Pune and Hyderabad. Lack of due diligence, mall shortcomings such as size and ownership patterns, design issues, faulty layouts with dark alleys, lack of customer walk flow management, low occupancy and lack of anchor tenants — have all contributed to the creation of these ghost malls. “All attempts to breathe life into these assets and attract a good retailer mix and footfalls have been unsuccessful. As a result, the revenue generation potential of such malls is far below the expected threshold,” the report said. In some cases, termination notices have been served to shut down a few large format stores which comprised an entire mall. Discontinuation of operations, demolition of shops inside the mall premises and auctioning of the mall property due to non payment of dues to the local mall authority are also underway, said the Knight Frank report. The report also has a few suggestions for utilising these ghost malls. “The vacant spaces of ghost malls can be used for thrift stores, food and clothing banks, exhibition, presentation and event spaces. <keyword id="153014" type="General" weightage="50" keywordseo="daycare" source="Orion">Daycare</keyword>, elder care, pet care and even elementary and secondary schools can be opened. Workforce training centres and human development centres for government services can also spring up in ghost malls,” said <keyword id="1417134" type="General" weightage="50" keywordseo="shishir-baijal" source="Orion">Shishir Baijal</keyword>, chairman and MD of Knight Frank India at the unveiling of the report. Leasing out empty spaces for long-term commercial use to local businesses that cannot afford high rents in prime office business parks or popular business districts can also be done, the report suggested. Demolition of the existing structure and sale of land to minimise the losses was another suggestion that was put forth. Malls witnessing growth despite rise of e-commerce The report also stated that excluding the ghost malls, the overall mall health has improved post pandemic. There were 255 malls in 2018 but it has risen to 271 now — adding over 15 million sq feet. Despite the rise of e-commerce, India’s physical stores still account for 95% of retail business, the report claimed. The retail industry will continue to account for 10% of India's GDP for the next five financial years. The organised retail sales grew at a CAGR of 24% between FY 2017- 22. The organised retail sector in India, despite taking a hit during the pandemic, is still growing. Post Covid, the recovery in operational metrics of malls has been healthy, with consumption in January-June 2022 growing 20-25% from the same period in FY2020, the report said. “With this large-scale pent-up demand, shopping centre development has seen a new rigour after being at a standstill for almost 2 years. In the next 12 months, we expect an addition of 8-9 mn sq ft of mall space.This is not just limited to the tier 1 markets. Tier 2 and 3 cities are also ready to support mid to large scale mall developments,” Rajneesh Mahajan, CEO of Inorbit Malls said. As per <keyword id="913436" type="General" weightage="50" keywordseo="knight-frank-research" source="Orion">Knight Frank Research</keyword>, organised retail sales volume is estimated to grow at a CAGR of 17%, from $52 billion in FY22 to $136 billion by FY28. New Delhi, Mumbai and Bangalore have the maximum number of malls, with Hyderabad performing the best in maximum occupancy in Grade A or premium malls. India has a total mall area spread across 92.9 mn sq ft in 271 operational malls in the top eight markets – Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, <keyword id="6371638" type="General" weightage="50" keywordseo="national-capital-region" source="Orion">National Capital Region</keyword> (NCR) and Pune. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/food-delivery-app-swiggy-partners-with-khan-academy-to-give-free-learning-courses-to-gig-workers/articleshow/94175943.cms">Food delivery app Swiggy partners with Khan Academy to give free learning courses to gig workers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/byjus-set-to-release-fy21-financial-report-sales-may-see-significant-drop/articleshow/94174895.cms">BYJU's set to release FY21 financial report, sales may see significant drop</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/spurt-in-social-gatherings-post-covid-is-boosting-alcohol-sales-in-india/articleshow/94172508.cms">Spurt in social gatherings post-Covid is boosting alcohol sales in India</a>

India’s ghost malls have caused a loss of $524 million: Knight Frank

New Delhi, Jan 17 () Realtors' apex body CREDAI on Friday said its developer members have given flat allotment letters to families of nine CRPF personnel martyred in terror attack at Pulwama in Jammu and Kashmir.
 After the attack in February 2019, the Confederation of Real Estate Developers Association of India (CREDAI) had promised to offer a two-bedroom house to each family of CRPF personnel who lost their lives in the Pulwama terror attack.
 On Friday, CREDAI, which has 12,000 members, organised a ceremony in Delhi-NCR to hand over flat allotment letters to the families of Pulwama martyrs. 
 D S Chauhan, IPS, NS, IGP, members of CRPF and the developers who have donated the flats were present at the occasion.
 "The association has handed over 9 flat allotment letters to the families of Pulwama martyrs in Delhi-NCR," CREDAI said in a statement. 
 Additionally, 10 flats have already been allotted in other states -- West Bengal, Rajasthan, Tamil Nadu and Jharkhand out of total 40 flats committed by CREDAI.
 Members who have offered flats include ATS, Gaurs group, Supertech, Prestige Group, Alcove Realty, Mirchandani Group, Anukampa Group, Manglam Group, Narvik Nirman &amp; Financers, Wish Empire, Berry Developers, Krish Group, BCC Infra, Belani Group, Raheja Developers, Rameshwaram Group and Akshat Apartments.
 "Keeping up with the spirit of patriotism and recognizing the sacrifices made by the family, we have come forward with this gesture. As we promised to offer homes to the families of the deceased, we are pleased to announce the allotment of 9 flats in Delhi-NCR," said Getamber Anand, ATS Chairman and former President, CREDAI National. MJH RVK

CREDAI members allot 9 flats in Delhi-NCR to families of martyred CRPF personnel in Pulwama

Average office rentals remained stable during April-June at ₹95 per square feet across six major cities as new supply rose 32%, while demand grew by a modest 2 %, according to <keyword id="3166898" type="General" weightage="20" keywordseo="colliers-india" source="Orion">Colliers India</keyword>. Real estate consultant Colliers India released its <keyword id="17907085" type="General" weightage="20" keywordseo="quarterly-data-of-six-major-office-markets" source="Orion">quarterly data of six major office markets</keyword> -- Bengaluru, Delhi-NCR, Mumbai, Chennai, Hyderabad and Pune -- on Wednesday. Gross leasing of office space rose 2 % to 14.6 million square feet across top six cities during April-June, from 14.3 million square feet in the year-ago period, driven by technology, engineering and manufacturing sectors. Chennai saw a three-fold jump in office demand, beating Delhi-NCR and Mumbai in leasing activities. New supply of office space rose 32 % to 12.4 million square feet across these six cities from 9.4 million square feet. Weighted average rental remained flat at ₹ 95 per square feet a month, across six cities. Peush Jain, managing director-office services, India, Colliers, said, "While the demand improved during the quarter, supply saw significant three-fold rise year-on-year, and was at par with demand. Hence rentals largely remained steady." As the demand improves further in coming quarters, Jain said there is a potential upside on rentals by the end of the year. As per the city-wise data, office space leasing in Bengaluru fell 22 % to 3.4 million square feet in April-June from 4.4 million square feet in the year-ago period. However, new supply more than doubled to 3.8 million square feet from 1.6 million square feet. Office rent in Bengaluru rose 1 % to ₹ 91.9 per square feet a month, from ₹ 90.6 in the year-ago period. In Chennai, the office leasing tripled to 3.3 million square feet from 1.1 million square feet. New supply jumped to 2.4 million square feet from 1 million square feet. Office rent in Chennai grew by 2 % to ₹ 75.1 per square feet from Rs 73.4 per square feet a month. Office leasing in Delhi-NCR was up 11 % to 3.1 million square feet from 2.8 million square feet. New supply rose 43 % to 2.1 million square feet from 1.4 million square feet. Monthly rent in Delhi-NCR appreciated by 2 % to ₹ 94.2 per square feet from ₹ 92.4 per square feet. In Hyderabad, the office demand fell 22 % to 1.5 million square feet from 1.9 million square feet, while new supply fell 19 % to 3 million square feet from 3.8 million square feet. Monthly Office rent remained stable at ₹ 73.7 per square feet from ₹ 73.6 per square feet. The gross office space leasing in Mumbai was down 41 % to 1.6 million square feet from 2.8 million square feet. New supply plunged 79 % to 0.2 million square feet from 1 million square feet. Office rent remained stable at ₹ 140.2 per square feet from ₹ 139.9 a square feet. In Pune, the leasing activities grew 28 % to 1.7 million square feet during April-June this year from 1.3 million square feet in the year-ago period. New supply increased 52 % to 0.9 million square feet in the second quarter of this calendar year from 0.6 million square feet in the corresponding period of the previous year. The average monthly office rent increased 1 % to ₹ 76.7 per square feet in April-June from ₹ 75.6 per square feet in the year-ago period. According to Colliers, the share of space leased by coworking operators increased to 17 % from 11 % during the period under review. Bengaluru-based managed office player Urban Vault co-founder Amal Mishra said, "corporates of all sizes have been taking office space in coworking centres and they are looking to increase the share of flex space in their overall real estate portfolio." Flexibility to scale up and scale down business, saving of capital expenditure and avoiding hassles to manage real estate are major considerations for corporates while choosing coworking space, Mishra noted. Gross absorption/leasing of office space does not include lease renewals, pre-commitments and deals where only a letter of intent has been signed, Colliers said.

Flat demand keeps office rent stable in Apr-Jun even as new supply rises  32% across top 6 cities: Colliers

If you are inclined towards coastal cuisine, you know it very well how difficult it is to find a good place in Delhi that satiates your tastebuds. While you have limited options in Gurgaon, there was nothing good in <keyword id="1093339" type="UNKNOWN" weightage="20" keywordseo="Lutyen">Lutyen</keyword>’s Delhi until <keyword id="4557980" type="UNKNOWN" weightage="20" keywordseo="sanadige">Sanadige</keyword> popped up at the Malcha Marg Commercial Centre. If you are crazy about seafood, you must visit this place. Well if you are not, you can still consider visiting Sanadige just as a tribute to the Southern part of India and its culture after having watched Bahubali II recently. <div type="image" title="1" msid="58776985" hostid="261"></div>

 Sanadige stands for the brass lamp that is lit on special occasions during any Kannada ceremony. And when you enter Sanadige, the lavishly earthy restaurant, the lamp will guide you to the table. For a location, where property prices skyrocket, Sanadige occupies two levels of dining, which is a clear indication of the seriousness of the business in the minds of the promoters. On any random day, you would find bureaucrats and embassy people lunching at Sanadige. The interior is well done and would remind you of a Kannada theatre. With wood engraved sculptures that depict fishermen returning home and boatmen selling for their catch, this place takes you to a faraway land where you can relish a candlelight dinner with your love forgetting about other anxieties of mundane city life. Yes it’s that surreal. Wait for the food to arrive at your table if you weren’t convinced much. We started our gastronomic sojourn with Anjal Tawa Fry, Chicken Ghee Roast, Prawn Butter Pepper Garlic, <keyword id="4557979" type="UNKNOWN" weightage="20" keywordseo="mamsa">Mamsa</keyword> pepper fry and Baby corn Butter Pepper Garlic. For the non-initiated ones, Anjal is king mackerel and Mamsa is an enormous sized fish found in backwater. Sanadige specializes in Mangalorean cuisine, so it’s pretty obvious that there would be a lot of Southern spices. And taste wise, the fried fillet of Anjal tasted heavenly. The prawns were fresh and tender. On inquiring, we learnt, the fishes and prawns are flown everyday from Bangalore. No wonder, they charge accordingly. The mercury level being too high, we cooled ourselves with Guava Pepper Mocktail and Tender Coconut Mojito. <div type="image" title="3" msid="58776986" hostid="261"></div>

 The main course was a blissful spread of Vegetable Stew, Goan Fish Curry, Koan Kundapuri, Chemmeen Ularthiyathu and Mangalorean Mutton Curry. These might sound quite cliché when it comes to experimentation with southern cuisine but these tasted delicious. Not an ounce of overpowering spices and balanced coconut flavour made each of dishes retain the accuracy. <div type="image" title="5" msid="58776987" hostid="261"></div>

 While we weren’t really dessert people, on insistence of the waiter, we thought of sampling payasam, the signature ending of any southern meal. But no this payasam isn’t the regular one. The payasam is way different – with tender coconut pulp and coconut cream combined neatly, this was actually theobroma, the food of gods. And don’t forget to try the paan (betel leaf) when you walk out. (Cover Image: facebook)

Delhi just got its luxury coastal seafood eatery. Get ready for jumbo sized prawns and crabs

New Delhi, Mar 4 () Hand sanitizers and face masks vanished from chemist shops in many areas of the national capital and adjoining towns as people resorted to panic buying amid the coronavirus outbreak. Many chemist shops in several localities have run out of stock and manufacturers have not replenished the stock as demand took a sudden spike in the past couple of days. Some chemist shops who have stocks available for masks have also jacked up prices, selling items that were available earlier for Rs 150 at Rs 300. "There was steady demand of hand sanitizers and masks in the past two months since the outbreak of coronavirus but ever since a case was reported in Delhi, there has been a sudden spike in demand," a sales person who asked not to be identified told . Commonly used hand sanitizers of brands like Dettol and Himalaya are not available on the shelves of many of the chemists although some of them have few stocks remaining of medical hand rubs, which come at bottles of different sizes with prices ranging from Rs 200 to Rs 600. "We are not getting supplies of those brands and we are running out of stock of what we have, as demand has been huge in the last two days," said another sales person at a different chemist shop. Another chemists said there is "obviously panic buying" but it is not a case of these items being big available at all in the market. "We just ran out of stock of hand sanitizers, if you wait for a couple of hours, we would definitely give you (the items)," said the chemist. When confronted why a mask that was earlier sold for Rs 150 is being quoted at Rs 300, salesperson of a particular chemist said, "When there is so much demand, what else do we do?" Even in upmarket location like Khan Market, none of the chemists had hand sanitizers. RKL ANZ HRS

Chemist shops run out of hand sanitizers, face masks in several parts of Delhi-NCR

Mumbai, Mar 12 () Hiring activity remained flat during February compared to the same month last year, mainly due to sluggishness in sectors like insurance, hospitality and travel, according to a report. The Naukri JobSpeak Index stood at 2,414 in February 2020, compared to 2,415 in the same month last year. Naukri JobSpeak is a monthly index which calculates and records hiring activities based on the job listings on Naukri.com website. According to the report, the flat trend was primarily led by a decline in growth rates across sectors such as insurance (-23 per cent), hotel/ restaurants/airlines/travel (-18 per cent), auto /auto ancillary (-16 per cent) and recruitment/employment (-15 per cent) compared to February 2019. Despite a flat trend in hiring activity, crucial industries like accounting/ taxation/ finance, education/ teaching/training, BPO/ITES and IT-software recorded growth of 14 per cent, 12 per cent, 9 per cent and 5 per cent, respectively. The job market in Hyderabad picked up 5 per cent, whereas other cities like Mumbai, Chennai, Kolkata, Bengaluru, Delhi NCR and Pune declined over the past year. Hiring activities for entry-level jobs (0-3 years) saw a positive growth, while mid-level executives, senior and leadership roles saw a decline in February 2020 versus last year, it added. "The economic slowdown in a few sectors has impacted the overall hiring activities. However, the recruitment growth in sectors like accounting/finance, BPO/ITES, IT-software and education/teaching, which employs a large pool of jobseekers in the country remains buoyant, which is a positive sign," Naukri.com Chief Business Officer Pawan Goyal said. SM ABMABM

Hiring activity remains flat in February 2020: Report

<ul><li>Pune has the lowest office vacancy at 8.5% as compared to other cities in India, as per <keyword id="7746659" type="General" weightage="20" keywordseo="ANAROCK-research" source="Orion">ANAROCK research</keyword> report.</li><li>As tech companies are choosing to adopt a hybrid work model, it is clear that IT-driven cities are now restricting their new office stock.</li><li>In comparison to non-IT cities, Delhi-NCR has the highest vacancy of <keyword id="181150" type="General" weightage="20" keywordseo="office-space" source="Orion">office space</keyword> at 28.5%.</li></ul>The information technology (IT) sector remained the least affected industry during the COVID-19 pandemic, however, due to hybrid work model requirements for office space went down. The latest ANAROCK research indicates that the IT hubs of India — Pune, Bengaluru, <keyword id="12864" type="General" weightage="80" keywordseo="chennai" source="Orion">Chennai</keyword> and Hyderabad — currently have lower Grade A office vacancies. Pune currently has the lowest vacant office spaces at 8.5%, followed by Chennai with 10.35%, Bengaluru with 11.25% and Hyderabad with over 15%. As tech companies are choosing to adopt hybrid work models, it is clear that IT-driven cities are now restricting their new office stock. “Many large and mid-size occupiers continued or renewed their leases during the pandemic because their business either saw no major impact or even grew during COVID-19. The cost of re-establishing or taking up new office space is costlier than holding on to existing leased spaces. Also, real estate costs are largely factored in IT companies' billing rates, so letting spaces go can lead to a significant change in top-line projections,” the report says. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of Grade A office </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vacant office space </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delhi-NCR </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">128 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28.50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kolkata </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23.50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai Metropolitan Region </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">108 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hyderabad </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">80 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bengaluru </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">168 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.25% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chennai </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">55 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.35% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pune </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">60 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.50% </td></tr></tbody></table>Source: Anarock Research report In comparison to non-IT cities, Delhi-NCR has the highest number of vacancies at 28.5%, followed by Kolkata with 23.50% and Mumbai Metropolitan Region with 16%. “The IT/ITeS sectors boomed during the pandemic. While most companies operated in <keyword id="9487588" type="General" weightage="20" keywordseo="wfh-mode" source="Orion">WFH mode</keyword>, many large and mid-sized corporates decided to hold on to their office spaces. At between ₹58 and ₹78 per sq. ft. per month, the average monthly office rentals in all four IT/ITeS driven cities are comparatively lower than in NCR and MMR, where they hover between ₹80 and ₹126 per sq. ft./month,” said Anuj Puri, Chairman at Anarock Group. According to the data, Bengaluru has the maximum office stock of about 168 million square feet, followed by Delhi-NCR at 128 million square feet, and MMR at 108 million square feet. SEE Also: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/indias-tech-talent-pool-is-from-vizag-indore-and-warangal-thats-where-infosys-tcs-and-others-are-heading/articleshow/92351346.cms">India’s tech talent pool is from Vizag, Indore and Warangal — that’s where Infosys, TCS and others are heading</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/news/international-yoga-day-2022-here-are-five-yoga-asanas-for-covid-affected-people/articleshow/92355705.cms">International Yoga Day: Five yoga asanas that help cope with Covid</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/recession-in-the-us-could-drop-oil-prices-and-benefit-indian-economy-as-per-economists/articleshow/92361936.cms">A US recession could provide Indian economy the relief it needs</a>

IT cities have the least number of vacant office spaces whereas metros like Delhi and Mumbai have the most

If you have plans to buy a house in Delhi NCR, this is the right time. Thanks to sops announced in the Union Budget 2017, leading real estate companies are up on heels to build affordable homes. Supertech, that has built numerous project in Noida and Greater Noida have recently announced to launch 40,000 affordable housing units in NCR in the next few years. 
 
Not juts Supertech, according to The Economic Times, Signature Global will be launching around 30,000 apartments in next one year. 
Promoter and managing director Pradeep Aggarwal told The Economic Times; the company has already launched 7,500 apartments and is in the process of launching 20,000 apartments in Delhi-NCR by the end of the next financial year. 
 
Not just new projects, several real estate companies are converting their existing housing projects in Greater Noida, Raj Nagar Extension, Yamuna Expressway, Tronica City, Faridabad, Bahadurgarh, Gurgaon, Daruhera, and Bhiwadi into affordable ones by capping the maximum unit size at 60 sqm (643 sqft). The developers are working to keep prices in the range of Rs 15 lakh to Rs 35 lakh, depending on the area and size of the apartment, as per the ET report.

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