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Prices of luxury properties appreciated by 8-12 per cent during the last year across major cities and have breached the 2015 peak level, according to <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> Sotheby's International Realty. In its annual 'Luxury Outlook Survey 2023', India Sotheby's International Realty (<keyword id="14413008" type="General" weightage="80" keywordseo="isir" source="Orion">ISIR</keyword>) revealed that 61 per cent of High-Net-worth Individuals (HNIs) and Ultra High-Net-worth Individuals (UHNIs) are looking to buy luxury real estate during 2023-24. The sample size of the survey is more than 500 HNIs and UHNIs. Asked about the price range of the property respondents were considering, the ISIR said that the highest interest (65 per cent) came in the price bracket of Rs 4-10 crore for their property investment. The survey found that 33 per cent of HNIs and UHNIs are willing to spend upwards of Rs 10 crore to acquire the right luxury property. On rates of luxury properties, the ISIR said, "Even though luxury property prices have gained 8-12 per cent in 2022, they are only marginally higher than the 2015 peak." ISIR CEO Amit Goyal said the housing sales remain strong amid pent-up demand and the country's economic growth. "As the wealth of a nation grows, it is bound to bring in a new set of buyers into luxury real estate and that's what we are witnessing," Goyal said. "We all are witness to a fundamental shift in the desire for home ownership across age groups, post the pandemic. A young thriving workforce in India will continue to drive demand for the housing sector," he added. Ashwin <keyword id="297510" type="General" weightage="50" keywordseo="chadha" source="Orion">Chadha</keyword>, President of ISIR, noted that Indian real estate has started its multi-year bull run in 2021, after years of remaining subdued. "Prices of luxury homes have risen in the last 16 months, but they are still only marginally higher than the peak prices of 2015, making it possible for HNIs to strike well-priced deals even now," Chadha added. On key demand drivers, the ISIR said that lifestyle upgrade remains the key motivation for buying property in 2023- 24. "Capital appreciation is the second most important motivation factor for buying property. This indicates that HNIs and UHNIs are expecting prices to rise in the coming years," the report said, adding that 12 per cent of the wealthy also ticked real estate as a chosen asset class to create multi-generational wealth to pass on to the next of kin. Among other findings, the ISIR report said that Delhi NCR, Mumbai, <keyword id="826" type="General" weightage="50" keywordseo="goa" source="Orion">Goa</keyword> and Bengaluru remain the top four cities for respondents to buy real estate. "Eleven per cent of India's wealthy are searching for real estate in overseas destinations. This number was negligible when we conducted our survey at the end of 2021," it added. ISIR survey revealed that 57 per cent of those surveyed still consider the city and urban community for their luxury real estate purchase in the coming years. Another 33 per cent of people gravitated towards owning a farmhouse/holiday destination. High-rise apartments remain the most sought-after real estate investment for respondents followed by farmhouse/holiday homes. Rent-yielding commercial real estate is also in demand as 23 per cent of the respondents would like to invest in it. Larger homes and open green spaces combined with excellent physical and social infrastructure came as the top two reasons for wealthy Indians choosing a property to buy, the survey report said. "We were happy to see 11 per cent also picked sustainable features as one of the key reasons driving their purchase," it added. The report further said that 74 per cent of the surveyed HNIs and UHNIs believe real estate is an important asset to hedge against inflation. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/award-winning-compostwali-poonam-kasturi-wants-money-not-awards-finds-it-on-shark-tank-india/slidelist/97087692.cms">Compostwali Poonam Kasturi says she wants money, not awards, on Shark Tank India and gets it</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/janitri-on-shark-tank-india-bill-melinda-gates-foundation-backed-startup-provides-ai-solutions-to-monitor-pregnant-women/articleshow/97088842.cms">Bill &amp; Melinda Gates Foundation backed startup provides AI solutions to monitor pregnant women</a>

Luxury property prices up 8-12% in 2022; surpasses 2015 peak level: India Sotheby's International Realty

<ul><li>Almost three-fourths of India’s ultra wealthy are keen on investing in real estate in the next 1-2 years.</li><li>Investors are also looking to create multi-generational wealth through realty investments, as per a survey by Sotheby’s.</li><li>Apart from commercial properties, holiday homes and farmhouses are the top choices of affluent Indians. </li></ul> Indian high and ultra-high networth individuals are undeterred by the 40% rise in property prices since the pandemic. As much as 71% of them are looking to bet on this asset class in the next 12-24 months, as per a Sotheby’s survey. Most of them see it as an investment as 44% of them picked capital appreciation as the reason they’d buy a property in the next 1-2 years. This reason trumped lifestyle upgrade and income generation. Most of the affluent Indians surveyed in annual <keyword id="20154622" type="General" weightage="20" keywordseo="luxury-outlook-survey" source="keywords">Luxury Outlook Survey</keyword> 2024 own multiple properties. This indicates that investors are back in the market, and many of them are keen on holding on to them for the long-term to create wealth for the next generation. “There’s also a shift in sentiments that aligns with a broader acknowledgment of real estate's enduring value and potential for sustained financial growth. We believe investors are strategically positioning themselves for wealth accumulation and creating multi-generational wealth through real estate investments," said <keyword id="20241942" type="General" weightage="20" keywordseo="ashwin-chaddha" source="keywords">Ashwin Chaddha</keyword>, CEO, India Sotheby's International Realty. Holiday homes &amp; farm houses Commercial real estate which generates rent was the most preferred sub-set. Holiday homes, farm houses and agricultural land were the other popular choices. “We observe an increasing trend of owning farmhouses in suburbs/ city peripheries, driven by the need for larger spaces, open green areas, work from home, privacy, and amenities such as a private swimming pool,” the report said. In other notable findings, 35% of holiday home buyers expressed <keyword id="19895061" type="General" weightage="20" keywordseo="goa" source="keywords">Goa</keyword> as their preferred destination. It highlights the enduring appeal of Goa's lifestyle among India's wealthy, Sotheby’s notes. Desire to invest in overseas property remained stable at 12%. Their top choices are Dubai, UAE, and USA.

Pools & privacy beckon India’s ultra wealthy to farmhouses in suburbs

If Goa is your all-time favourite destination and you throng the coastal state at least once in a year, you should probably own a house there now. 
 
Goa is one of the preferred destinations and all-time favourite places to unwind and relax. Pristine beaches, shacks, night clubs, cruise, etc, you name it and Goa will have everything to make your stay enjoyable and memorable. 
 Now, if you add a dash of luxury to it, your experience in the coastal state will go a few notches up. If you imagined having a house of your own near a river or a beach, that too in a quite locale, this upcoming project by <keyword id="6613497" type="COMPANY" weightage="20" keywordseo="Tata-Housing">Tata Housing</keyword> will surely attract you. 
 
Rio-De-Goa-a residential project by Tata Housing- is an upcoming luxurious project by the company, which is spread over 4.82 acres. 
 
Located in south Goa, the project is near Goa International Airport and Zuari River. 
 
Each and every apartment in the 14-tower project will be done tastefully and offer every opportunity to maximise your wellness. 
 
The project has plethora of facilities such as swimming pool, open air amphitheatre, meditation garden, tranquillity deck, etc. 
 
Here’s how the project, once completed, is going to look like

Tata is building luxurious homes in Goa and they are beyond amazing. Take a look

Mumbai, Jan 3 () <keyword id="370068" type="PERSON" weightage="20" keywordseo="Ashok-Piramal">Ashok Piramal</keyword> Group <keyword id="6384816" type="UNKNOWN" weightage="20" keywordseo="realty">realty</keyword> firm <keyword id="212999" type="DOMAIN" weightage="20" keywordseo="Peninsula-Land">Peninsula Land</keyword>, which delayed debt repayment of Rs 2.35 crore to <keyword id="13222" type="CITY" weightage="20" keywordseo="SBI">SBI</keyword>, has blamed the government for not paying rent on time for commercial property leased by tax departments that resulted in missing the due date. In a regulatory filing, the company said that it could not make the repayment of Rs 2.35 crore to SBI as the government's tax departments failed to make timely payment of the rent towards the property leased out to them.
 "The debt and interest against this facility are serviced by an arrangement whereby the monthly rent received from the government goes towards the discharge of the dues under the said facility. Lately, there have been delays in the payment of rent by the government which, in turn, resulted in delay in payment to SBI on the due date," the company said.
 Peninsula Land has obtained a lease rental discounting facility (LRD) from the SBI against the rent receivable from the government's tax departments, including the Income Tax and GST departments, in respect of a commercial property leased out.
 The company has borrowed secured term loan from SBI with the principal being of Rs 177.72 crore and having a total tenure of 143 months at an interest rate of 9.95 per cent per annum.
 "...in the month of December 2019 alone, the company has paid an amount of Rs 265 crore towards repayment of debt and interest obligations. Hence there is no question of defaulting for an amount as small as Rs 2.35 crore," the company said.
 At present, the company's total debt including short-term and long-term facilities stand at Rs 1,630.65 crore and it owes Rs 999.74 crore to banks and financial institutions.
 Currently, Peninsula has a portfolio of nearly eight million sqft in Mumbai and has projects in Pune, Nashik, Lonavala, Bangalore and Goa. PSK MJH MR

Ashok Piramal group realty firm says misses debt repayment as tax dept delays rent

Be it summers, monsoons or spring, this luxurious villa in Goa is the answer for all your needs in the coastal state. 
 
Situated in Siolim Bardez, this Terra-The Earth House-villa has a mix of earthy and chic elements, which is ideal for any age-group. The surroundings are serene and the decor of the villa is also elegant and to an extent minimalistic. 
 
The highlight of this 6300 sq ft villa, which is worth $1,870,138 is the individual infinity pool with outdoor shower and two private terraces semi enclosed with louvers with outdoor bar and dining overlooking the beautiful river to relish Goa in its true sense. 
 
The villa, which is on sale at Sotheby’s International Realty, is close to churches and serene beaches and also gives an impression of the unique trio of elements of the Sun, the Moon and the Earth.

SNEAK PEEK: This villa in Goa worth over $1 million is elegant, luxurious and even has an INFINITY POOL!

<keyword id="20130405" type="General" weightage="100" keywordseo="housing-sales" source="keywords">Housing sales</keyword> in India’s 30 major tier-II cities dropped by 13% during the July-September 2024 period, according to a report by <keyword id="20973720" type="General" weightage="20" keywordseo="PropEquity" source="keywords" meta.keywordsubtype="org" meta.entityname="PropEquity" meta.hostid="261" meta.entityid="PropEquity">PropEquity</keyword>, a data analytics firm. The report shows that sales fell from 47,985 units last year to 41,871 units this year, while new housing launches dropped by 34%, from 43,748 to 28,980 units. This dip raises questions about the performance of smaller cities in the country’s <keyword id="19913430" type="General" weightage="20" keywordseo="real-estate-market" source="keywords">real estate market</keyword>. <h2>Key reasons for decline</h2>The decline in sales and new launches can be attributed to the high sales figures seen in 2023, creating a “higher base effect,” as Samir Jasuja, CEO and Founder of PropEquity, explains. “The decline in sales and launches is on account of higher base effect as the year 2023 had recorded historic highs.” Jasuja pointed out that while tier-II cities benefit from lower costs of living, skilled labor, and strong infrastructure, they still lag far behind the country’s top 10 cities in terms of <keyword id="20074590" type="General" weightage="20" keywordseo="housing-demand" source="keywords">housing demand</keyword>. Indeed, the report shows that these 30 tier-II cities contribute just one-third of the sales and new launches seen in the top-tier cities, indicating a significant gap in market performance. <h2>Which cities are selling?</h2>Interestingly, the report highlights that the west zone, which includes cities like Ahmedabad, Surat, Goa, Nashik, and Nagpur, accounted for 72% of the total sales in the third quarter of 2024. This suggests that despite the overall decline, <keyword id="20521784" type="General" weightage="20" keywordseo="western-India" source="keywords">western India</keyword>’s tier-II cities are performing relatively better in terms of housing demand. Experts believe that the overall real estate market remains resilient, despite the drop in tier-II cities. Shashank Vashishtha, Managing Director of Exp Realty India, remarked, "These adjustments reflect a natural recalibration, offering homebuyers an opportunity as developers emphasise sustainable growth and affordability." Vashishtha is optimistic that the upcoming festive season could see a rebound in housing sales, as many buyers tend to finalise their purchases during this period. <h2>Risks for investors</h2>However, not everyone shares the same positive outlook. Rochak Bakshi, Founder and CEO of True North Financial Services, warned that investing in real estate in tier-II cities comes with its own risks. “Real estate investment has historically not been very lucrative in <keyword id="20121641" type="General" weightage="20" keywordseo="tier-II-cities" source="keywords">tier II cities</keyword>,” Bakshi explained. He highlighted that despite improved connectivity and infrastructure, returns on investment in these cities remain relatively low due to poor rental yields, slow <keyword id="23627479" type="General" weightage="20" keywordseo="property-value-appreciation" source="keywords">property value appreciation</keyword>, and the illiquid nature of real estate. These factors, he argued, make investing in smaller cities more risky compared to larger urban centres. While the current slowdown reflects both <keyword id="23627478" type="General" weightage="20" keywordseo="market-adjustments" source="keywords">market adjustments</keyword> and specific challenges in tier-II cities, the outlook for the real estate market remains mixed. Some experts are hopeful for a recovery, particularly as developers focus on more <keyword id="20254620" type="General" weightage="20" keywordseo="affordable-housing" source="keywords">affordable housing</keyword> options, while others advise caution for investors looking at tier-II cities. As the festive season approaches, all eyes will be on whether these cities can bounce back or if the gap between tier-I and tier-II markets will continue to widen. (With inputs from agencies)

Why have housing sales fallen in 30 Tier-II cities?

New Delhi, Realty firm <keyword id="20188868" type="General" weightage="20" keywordseo="prestige-estates" source="keywords">Prestige Estates</keyword> Projects Ltd has raised Rs 2,001 crore from <keyword id="20392245" type="General" weightage="20" keywordseo="abu-dhabi-investment-authority" source="keywords">Abu Dhabi Investment Authority</keyword> (<keyword id="20826721" type="General" weightage="20" keywordseo="adia" source="keywords">ADIA</keyword>) and <keyword id="21150454" type="General" weightage="20" keywordseo="kotak-aif" source="keywords">Kotak AIF</keyword> to develop housing projects across four major cities, as part of its expansion plan. In a regulatory filing on Monday, <keyword id="20197996" type="General" weightage="20" keywordseo="prestige-group" source="keywords">Prestige Group</keyword> said the company, through its subsidiaries, has "entered into a landmark deal with ADIA and Kotak AIF for Rs 2,001 crore (around USD 240 million) to capitalise on growth opportunities in the residential sector". The fund will be used to develop projects with an estimated revenue potential of Rs 18,000 crore, it added. "This marquee deal not only underscores the confidence of institutional investors in Prestige Group's execution and corporate governance but also reflects our shared commitment to delivering excellence in real estate development pan-India," Irfan Razack, Chairman &amp; Managing Director of Prestige Group, said. When contacted, Prestige Group CEO <keyword id="21128882" type="General" weightage="20" keywordseo="venkat-k-narayana" source="keywords">Venkat K Narayana</keyword> said the company has raised this fund in a quasi-equity form and will be used to develop four housing projects in Delhi-NCR, Mumbai, Goa and Bengaluru. ADIA and Kotak AIF will have stakes in the special purpose vehicles (SPV) to be created for the development of these four projects, he added. Bengaluru-based Prestige Group, which is one of India's leading real estate developers, termed the strategic deal as a significant milestone in its growth trajectory. "The collaboration with ADIA and Kotak AIF represents a considered move towards adopting strong and organic growth for Prestige Group," the filing said. The deal, with its substantial size, upholds the company's vision to sustain its leadership position in the industry, Prestige Estates said. "It is aimed at catalysing the development of early-stage residential projects, ensuring the company's commitment to prudent expansion and diversified growth," the company said. Given the increasing demand and consolidation in the sector, Venkat said this deal will help in accelerating growth and expansion. "These funds will fuel the development of greenfield residential projects across the cities of Bengaluru, Mumbai, Goa, and NCR with a combined Gross Development Value (GDV) of over Rs 18,000 crores, contributing significantly to the top line," he said. Prestige Group has a legacy of almost four decades in real estate development. It has a diversified business model catering to various segments, viz residential, office, retail, hospitality, property management and warehouses with operations in more than 12 major locations in India. The Group has completed 300 projects spanning a developable area of 188 million square feet.

Prestige group raises ₹2,001 cr from ADIA, Kotak AIF to fund expansion

The <keyword id="83655" type="COMPANY" weightage="20" keywordseo="Union-health-ministry">Union health ministry</keyword> has informed states and union territories that they are likely to receive the first supply of <keyword id="8904563" type="UNKNOWN" weightage="20" keywordseo="covid-19-vaccine">COVID-19 vaccine</keyword> shortly and asked them to remain prepared to accept these consignments. In a communique, the ministry said <keyword id="24209" type="PERSON" weightage="20" keywordseo="vaccine">vaccine</keyword> will be supplied to the identified consignee points of 19 states and union territories -- Andhra Pradesh, <keyword id="6354915" type="PERSON" weightage="20" keywordseo="assam">Assam</keyword>, Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Jharkhand, Karnataka, Kerala, Madhya Pradesh, <keyword id="13126" type="COMPANY" weightage="20" keywordseo="Maharashtra">Maharashtra</keyword>, Odisha, Punjab, Rajasthan, <keyword id="20154" type="PERSON" weightage="20" keywordseo="tamil-nadu">Tamil Nadu</keyword>, Telangana, Uttar Pradesh and West Bengal -- by the supplier. The vaccine for remaining 18 states and union territories -- Andaman and Nicobar Islands, Arunachal Pradesh, Chandigarh, Daman and Nagar Haveli, Daman and Diu, Goa, Himachal Pradesh, Jammu and Kashmir, Ladakh, Lakshadweep, Manipur, Meghalaya, Mizoram, Nagaland, Puducherry, Sikkim, Tripura and Uttarakhand -- will be received from their respective government medical store depots. "All the states and UTs are likely to receive the first supply of COVID-19 vaccine shortly. "In this regard, you are requested to ensure the advance preparation and readiness for the acceptance of forthcoming supply of the vaccine," Dr Pradeep Halder, advisor, Reproductive and Child Health (RCH) in the health ministry, said in the letter dated January 5. The further distribution of vaccine to the districts will be done as per the registered beneficiaries, for which a separate communication will be done shortly, the letter stated. The country's drugs regulator on Sunday approved Oxford-AstraZeneca's Covishield and indigenously developed <keyword id="9485939" type="PERSON" weightage="20" keywordseo="covaxin">Covaxin</keyword> of <keyword id="149108" type="PERSON" weightage="20" keywordseo="Bharat-Biotech">Bharat Biotech</keyword> for restricted emergency use in the country. The Health Ministry on Tuesday said it is prepared for COVID-19 vaccine roll-out within ten days of the vaccines getting approved for restricted emergency use on January 3, but a final decision on the launch date would be taken by the government. Meanwhile, as a simulation of actual execution of COVID-19 vaccine roll-out, another round of dry run will be conducted in all districts of all states and union territories, except Uttar Pradesh and Haryana, on January 8 to ensure efficient planning and management for vaccine delivery in each district. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-tcs-ril-maruti-airtel-godrej-properties-oberoi-realty-sobha-and-others/articleshow/80145182.cms">Top stocks to watch — TCS, RIL, Maruti, Airtel, Godrej Properties, Oberoi Realty, Sobha, and others</a> <a href="https://www.businessinsider.in/business/auto/news/ducati-is-launching-12-new-bikes-in-india-in-2021-check-the-launch-dates-here/articleshow/80146997.cms">From Scrambler and Multistrada to Monster and SuperSport — Ducati is launching 12 new bikes in India, check the launch dates here</a> <a href="https://www.businessinsider.in/india/news/petrol-has-reached-an-all-time-high-in-delhi-after-a-hike-of-23-paise/articleshow/80146505.cms">Petrol price is now past ₹84 in Delhi, over 62% of it is taxes</a>

India's Health Ministry asks states and union territories to prepare for COVID-19 vaccine arrival shortly

From home sales and jewellery to power consumption, these are all the sectors that are back to pre-pandemic levels

BENGALURU, Star Air, after running successful operations in Ahmedabad, has now expanded its wings further, by launching its services to one more city of Gujarat. This airline vertical of <keyword id="10497088" type="UNKNOWN" weightage="20" keywordseo="prominent-indian-business-conglomerate">prominent Indian business conglomerate</keyword> - Sanjay Ghodawat Group recently commenced its operations in the Silk City of India i.e. Surat from 21st December 2020. The company launched non-stop flight services to Surat from Belagavi (Karnataka) and Ajmer (Rajasthan) under the popular RCS-UDAN scheme. This service is one of its kind as it will help thousands to travel, conveniently and affordably between Belagavi-Surat-Ajmer (Kishangarh) region comfortably than ever before and help make their travel easier. In privately held launching ceremonies at all three airports i.e. Ajmer (Kishangarh), Surat, and Belagavi; keeping the COVID-19 guidelines in place, Star Air launched its services for the said route. Many prominent dignitaries from various walks of lives graced these launch events and wished good luck to the airline. It is interesting to note that, Star Air is getting a phenomenal response on this route since it broke the news of launching services in this sector. The company officials revealed that its inaugural flights got an overwhelming response from passengers as it registered a whopping 82% overall load factor. Flight services on these routes will prove beneficial for millions living in and around Belagavi, Kolhapur, Sindhudurg, Sangli, Bagalkot, Gadag, Dharwad, Bijapur, Uttara Kannada, Nandurbar, Bharuch, Narmada, Navsari, Nagaur, Jaipur, Tonk, Bhilwara, and Pali districts of four Indian states. Furthermore, due to the proximity of Belagavi to Goa, people residing near the border areas of Goa will find it more convenient and affordable to travel to <keyword id="10497090" type="COMPANY" weightage="20" keywordseo="surat-ajmer">Surat &amp; Ajmer</keyword> (Kishangarh). "Belagavi-Surat-Ajmer (Kishangarh) flight services would be a very convenient option for frequent flyers. If you see, to cover a distance of over 1480 km between Belagavi and Ajmer, passengers will just need to spend 3 hours instead of the tedious and tiring 25 hours long commute required from other modes of transportation. Moreover, the travel time between Surat-Belagavi and Surat-Ajmer (Kishangarh) will be reduced to just 1 hour 20 min and thus it will provide great relief to countless people who fly between these cities frequently," says Mr. Shrenik Ghodawat, Managing Director - Sanjay Ghodawat Group. Star Air is already running Belagavi to Ajmer (Kishangarh) services via Ahmedabad and Indore locations. Surat is the third city from where Star Air is connecting Belagavi &amp; Ajmer (Kishangarh). After commencing operations from Surat, Star Air is now serving passengers in 11 prominent Indian cities that include Ahmedabad, Ajmer (Kishangarh), Belagavi, Bengaluru, Delhi (Hindon), Kalaburagi, Indore, Mumbai, Surat, Tirupati, and Hubballi. About Star Air Star Air is a scheduled commercial airline with an aim to connect real India. It is promoted by <keyword id="10497087" type="COMPANY" weightage="20" keywordseo="ghodawat-enterprises-pvt-ltd-">Ghodawat Enterprises Pvt. Ltd.</keyword>, which is the Aviation arm of strategically diversified Sanjay Ghodawat Group. Over the past five years we have made a best-in-class helicopter operator in India with impeccable dedication to safety. Star Air is the latest offering of the group. An upcoming Airline with a firm proposal to connect the unconnected. The target routes are where passengers are currently suffering a lot of transit layover delays. The airline will provide a very reliable, safe and comfortable travel experience with direct connections. Truly the group's 'Star in the Air'. About Sanjay Ghodawat Group Sanjay Ghodawat Group is a prominent Indian business conglomerate that has its presence in various high-value business verticals ranging from salt to software. Agro, Aviation, Consumer Products, Education, Energy, Energy O&amp;M, Mining, Realty, Retail, Software, and Textile some of its key business domains. The group was incepted in 1993 and since then it has witnessed impressive growth under the splendid stewardship of its Founder and Chairman- Mr. Sanjay Ghodawat. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/stock-market/news/there-are-one-of-only-17-indian-companies-out-of-500-that-aced-the-du-pont-test/articleshow/79911627.cms">There are one of only 17 Indian companies out of 500 that aced the Du Pont test</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-buyback-offer-details-and-700-million-metro-ag-deal-drives-share-price/articleshow/79911875.cms">Wipro offers 10% more to buy back shares and signs a $700 million deal with Metro AG – everything that’s driving the IT services stock higher today</a>

Star Air Launches Non-stop Flight Services to Surat from Belagavi and Ajmer (Kishangarh)

A total of 13 states have so far decided on their borrowing options to meet their <keyword id="9933255" type="UNKNOWN" weightage="20" keywordseo="gst-compensation-shortfall">GST compensation shortfall</keyword> and almost all have decided to go for the first option proposed by the Centre, source said. Out of the 13, 12 states have opted for the first option, under which the Union government has offered states that they could borrow the shortfall arising out of GST implementation, estimated at Rs 97,000 crore approximately. The amount would be borrowed through issue of debt under a special window coordinated by the Finance Ministry. The first option is to ensure steady flow of resources similar to the flow under <keyword id="2600993" type="PERSON" weightage="20" keywordseo="GST-compensation">GST compensation</keyword> on a bi-monthly basis. Under this option, the Centre will endeavour to keep the cost at or close to the G-secs yield, and in the event of the cost being higher, will bear the margin between G-secs and average of State Development Loan yields up to 0.5 per cent through a subsidy. The states which have preferred to opt for this option are Andhra Pradesh, Bihar, Gujarat, Haryana, Karnataka, Madhya Pradesh, Meghalaya, Sikkim, Tripura, Uttar Pradesh, Uttarakhand and Odisha. Only Manipur has so far opted for the second borrowing option under which states can borrow the entire compensation shortfall of Rs 2.35 lakh crore, including the Covid-impact portion, through issue of market debt. Six more states -- Goa, Assam, Arunachal Pradesh, Nagaland, Mizoram and Himachal Pradesh -- will be giving their choice in a day or two, said people in the know. A few states have submitted their views to the Chairperson of the GST Council but are yet to decide on the options, according to sources. In the 41st GST Council meeting last month, the Centre had proposed both options, so that a mechanism could be put in place as an exception this year, as Covid-19 disruptions and lower revenue collections have made it difficult for the Centre to meet its obligation on Goods and Services Tax (GST) compensation to states. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-future-retail-ril-irctc-bhel-tata-motors-adani-green-vodafone-idea-godrej-properties-sunteck-realty-and-more/articleshow/78097615.cms">Top stocks to watch— Future Retail, RIL, IRCTC, BHEL, Tata Motors, Adani Green, Vodafone Idea, Godrej Properties, Sunteck Realty and more</a> <a href="https://www.businessinsider.in/india/news/delhi-police-arrests-umar-khalid-connection-with-northeast-delhi-riots/articleshow/78097740.cms">Delhi Police arrests Umar Khalid in connection with Northeast Delhi riots</a> <a href="https://www.businessinsider.in/tech/news/tiktok-owner-bytedance-rejected-microsofts-offer-for-the-apps-us-operations/articleshow/78097018.cms">TikTok owner ByteDance rejected Microsoft's bid for the app's US operations, Oracle reportedly chosen as US 'technology partner'</a>

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Luxury property prices up 8-12% in 2022; surpasses 2015 peak level: India Sotheby's International Realty

PTI

Pools & privacy beckon India’s ultra wealthy to farmhouses in suburbs

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