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While there are nearly 5.68 lakh houses under various stages of construction in Delhi-NCR, any kind of periodic ban on construction by different agencies can only delay the projects, adding to the woes of the buyers. The maximum number of under-construction units is in <keyword id="18858" type="General" weightage="80" keywordseo="noida" source="Orion">Noida</keyword> and Greater Noida areas, accounting for nearly 2.70 lakh units, as per an estimate. On average, a one-month ban on all construction activity delays a project by at least 3-4 months, according to research by <keyword id="4695749" type="General" weightage="80" keywordseo="anarock" source="Orion">Anarock</keyword> consultants. As per the research, the areas in Delhi-NCR with the maximum under construction units presently include Greater Noida West, Yamuna Expressway, New Gurugram, Noida Expressway, Dwarka Expressway, Central Noida, Sector 150 (Noida), <keyword id="1464478" type="General" weightage="50" keywordseo="greater-faridabad" source="Orion">Greater Faridabad</keyword>, <keyword id="15299315" type="General" weightage="50" keywordseo="raj-nagar-ext" source="Orion">Raj Nagar Ext</keyword> (Ghaziabad), Sohna and Golf Course Ext Road. These areas together have more than 4 lakh units that are currently under various stages of construction. Greater Noida West alone has more than 1.37 lakh under-construction units currently. The air quality in Delhi-<keyword id="53426" type="General" weightage="100" keywordseo="ncr" source="Orion">NCR</keyword> has turned poor and heavy smog has started engulfing the region. This year too, to battle pollution, an action plan has been rolled out in advance, mandating that if the pollution levels breach certain levels (i.e., Stage III or 'severe'), authorities will have to enforce a ban on construction and demolition activities in NCR, except on essential projects (like railways, metros, airports, ISBTs, national security/defence-related projects of national importance). Apart from this, the construction of projects also gets hampered due to protests on the issue of land compensation. The Anarock research said that being periodic, the impact of these construction bans on overall property prices is almost negligible. Moreover, real estate prices in most cities are not so much a function of environmental concerns as of accessibility, proximity to the city centres or major employment hubs, urban mobility via various modes of public transport, and affordability. In Mumbai too, the city perennially experiences floods during monsoon, yet property prices remain steady. In fact, in the last two-and-a-half years since the pandemic, the Mumbai Metropolitan Region (MMR) has been the most active in terms of both new supply and new launches. As for Delhi-NCR, the region too has been very active. While developers restricted new supply, housing sales have been significant. In fact, the region has shed at least 23 per cent of its unsold stock in the last 2.5 years since the pandemic. Back in Q1 2020-end, the overall unsold stock in Delhi-NCR stood at 1.73 lakh units which have reduced to a little over 1.32 lakh units as of Q3 2022-end, said the Anarock research. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/huge-hike-in-airfare-from-delhi-mumbai-to-patna/articleshow/94961347.cms">Huge hike in airfare from Delhi, Mumbai to Patna</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/nissan-x-trail-premium-suv-to-launch-in-india-features-specs-and-everything-you-need-to-know/slidelist/94961171.cms">Nissan X-Trail premium SUV to launch in India – features, specs and everything you need to know</a>

Delhi-NCR: 5.68L houses under construction; periodic bans add to buyers' woes

The blanket of haze over Delhi thickened on Friday morning with the national capital's pollution levels increasing overnight by around 50 points, taking the overall air quality index to 459. A Central Pollution Control Board official said the AQI entered the "severe plus" or "emergency" category late Thursday night, the first time since January this year. If the air quality persists in the "severe plus" category for more than 48 hours, emergency measures such as odd-even car rationing scheme, banning entry of trucks, construction activities and shutting down schools are taken under the Graded Response Action Plan, the official said. The hazardous pollution levels forced a number of people to miss morning walks and other activities. Shubhomoy Sikdar, a Delhi-based journalist, said the pollution levels gave him a throat infection and he had to skip his daily sports session. Amanpreet Singh, a resident of <keyword id="1775695" type="ORGANIZATION" weightage="20" keywordseo="Jangpura">Jangpura</keyword>, said he has been avoiding morning and evening walks and preferring to stay indoors. The number of masked faces continued to grow as the city remained shrouded in pungent haze for the fourth consecutive day. At 8.30 am, the capital's overall air quality index stood at 459. It was 410 at 8 pm on Thursday. All the 37 air quality monitoring stations across Delhi recorded the air quality in the severe category on Friday morning. Bawana was the most-polluted area with an AQI of 497, followed by Delhi Technological University (487), Wazirpur (485), Anand Vihar (484) and Vivek Vihar (482). Neighbouring Ghaziabad was the most-polluted city in the country, with the levels of PM2.5 -- tiny particulate matter less than 2.5 microns that can enter deep into the lungs -- reaching as high as 493. Greater <keyword id="18858" type="LOCATION" weightage="20" keywordseo="Noida">Noida</keyword> (480), Noida (477), and <keyword id="47896" type="LOCATION" weightage="20" keywordseo="Faridabad">Faridabad</keyword> (432) also breathed extremely polluted air. An AQI between 0-50 is considered good , 51-100 satisfactory , 101-200 moderate , 201-300 poor , 301-400 very poor , and 401-500 severe . Above 500 is severe-plus or emergency category. Delhi is impatiently hoping for favourable meteorological conditions to blow away the toxic air, as health experts said the hazardous air pollution has become a serious health concern for about 2 crore residents. "Intake of every 22 micrograms per <keyword id="6805104" type="UNKNOWN" weightage="20" keywordseo="Cubic-metre">cubic metre</keyword> of polluted air is equivalent to smoking a cigarette. So whether the PM2.5 level is 700 or 300 units, the impact is still as bad. People need to take precautions, especially those suffering from asthma, <keyword id="55923" type="PERSON" weightage="20" keywordseo="Bronchitis">bronchitis</keyword> or other respiratory illness," said Dr Arvind Kumar, lung surgeon at Sir Ganga Ram Hospital here. Weather experts said increased wind speed due to a fresh western disturbance approaching the northern region would help disperse pollutants faster from Saturday. Parents are a worried lot as health experts say children breathe faster, taking in more pollutants. Many took to Twitter to demand that schools be shut till the situation ameliorates. "We, as parents, request Delhi government to keep all schools (pvt and govt) shut for the time being," Anil Atri, a Delhi resident, posted on the microblogging site. "Whole Delhi air at hazardous levels now. Pollution at its peak. Activate all emergency measures. Close down schools @msisodia (sic)," another resident tweeted. Deputy Chief Minister <keyword id="6354681" type="PERSON" weightage="20" keywordseo="manish-sisodia">Manish Sisodia</keyword> had on Wednesday said the decision to shut schools would be taken "when the need arises". In November 2017, the government had shut schools for a few days due to the deteriorating air quality. The government, however, started distributing 50 lakh N95 masks, considered one of the good quality masks for tackling smog, among school students in Delhi on Friday morning. Meanwhile, the BCCI said it would carry on with the India-Bangladesh T20 at the Feroz Shah Kotla grounds on Sunday, disregarding concerns raised by environmentalists about the health of players and thousands of spectators. The AQI takes into account five chief pollutants -- particulate matter with a diameter less than 10 micrometres (PM10), PM2.5, <keyword id="36673" type="PERSON" weightage="20" keywordseo="ozone">ozone</keyword> (O3), <keyword id="142405" type="PERSON" weightage="20" keywordseo="Nitrogen-dioxide">nitrogen dioxide</keyword> (NO2) and carbon monoxide (CO). The higher the AQI value, the greater the level of air pollution and health concerns.

A different kind of emergency engulfs Delhi as air quality drops again

These days, developers are coming up with projects that are hard to resist. So, while <a href="http://www.businessinsider.in/Should-you-buy-a-new-or-pre-ownedflat/articleshow/50742990.cms">buying a property</a>, especially in the Delhi-NCR region, one has to be cautious about the location of the <keyword id="6354516" type="ORGANIZATION" weightage="20" keywordseo="property">property</keyword>. BI India lists down a few ‘risk-prone’ zones of Delhi NCR property market that one should be careful about before investing in projects there. 
	 
	“Various issues like delays in delivery, oversupply, speculation and infrastructure deficit have been plaguing these <a href="http://www.businessinsider.in/Should-you-buy-a-new-or-pre-ownedflat/articleshow/50742990.cms">markets</a>, rendering them unsuitable for first-time home purchase,” said Santhosh Kumar, CEO, Operations &amp; International Director, JLL India. 
	 
	Greater <keyword id="47896" type="COMPANY" weightage="20" keywordseo="Faridabad">Faridabad</keyword> 
	 
	This location comes in the list because of issues such as litigated land parcels, delayed delivery issues and a high incidence of broken promises by developers. “Although property prices here were always affordable, this market has seen the lowest appreciation in entire NCR. Everything that can possibly go wrong in a buyer-developer relationship has done just that in this area of NCR,” said Kumar. 
	 He also noted that the infrastructure development has not been in sync with the residential growth in this region. “Neither the improved connectivity to Delhi via the national highway nor the under-construction metro or new highway to <keyword id="6361586" type="COMPANY" weightage="20" keywordseo="Gurgaon">Gurgaon</keyword> have changed the realty fortunes of this corridor,” he added. 
	 
	It should be noted that Greater Faridabad has witnessed <a href="http://www.businessinsider.in/Heres-why-investing-in-new-under-construction-homes-is-a-better-idea/articleshow/48371771.cms">delayed deliveries</a> by small-developers as well as by a few established builders. Kumar also said that there have been cases of developers running away with home buyers’ money after selling under-constructed flats to innocent buyers. 
	 
	“On other cases, buyers have been allotted / shown plots on a map or in a particular location but getting physical possession of plots altogether different from the ones initially agreed upon. In a variant of this scam, buyers were not allotted any plots at all or were saddled with plots not included in any master plan, and bereft of the authorities’ approvals,” pointed out Kumar. 
	 
	Noida Extension 
	 
	“The primary issue impacting this location’s viability as an investment destination is the oversupply of residential units. With 1.5-2 lakh units slated to hit this market, prices are unlikely to appreciate much. Many land acquisition issues involving local farmers have sullied the market here over the last few years. The ensuing delays and litigations, resulting higher compensation being paid to farmers for their land, has also decreased overall affordability,” he said. 
	 
	Also, this place is expected to be susceptible to earthquakes, considering high-intensity tremors were felt in NCR. “Rampant construction is also observed in neighbouring Noida. As both these areas are situated on the Yamuna river belt, they have more river soil than areas like Gurgaon. With increased seismic activity, it is important for buyers to additionally check if zoning and structural laws are being properly followed here and if the project is earthquake-resistant,” noted Arvind Jain, managing director of Pride Group. 
	 
	 The NH-24 stretch in Ghaziabad 
	 
	Although Ghaziabad has several launches lined up and good options in affordable housing and township projects are available, price appreciation will largely be driven by its future industrial growth. Also, its viability as a residential destination will depend significantly on infrastructure deployment. 
	 
	A six-lane expressway has been proposed, but that can easily take more than five years to be built. Currently, there is a major bottleneck for traffic at Indirapuram, and residents commuting here will have to face daily traffic congestion. End-users should only consider moving here if commuting under such conditions is acceptable, and investors should factor in a protracted investment horizon for any appreciable payoff. 
	 
	Gurgaon 
	 
	A general advisory for end-users and investors interested in this area. Kumar issues advisory for home buyers, who want to buy a property in this region. “Check the status of construction in the identified project, as delays in delivery are commonplace – and it is not only smaller, anonymous developers who are involved. Also, keep away from pre-launches. Instead, look for bargain buys when investors exit. At that point of time, construction will be closer to completion or completed, and Gurgaon is witnessing distress sales from investors,” suggested Kumar. He added, “Several subvention schemes popular these days actually require payment of more money upfront, and the prices per square feet are also higher if one opts for these. The agreements tend to be restrictive, and there is risk of getting stuck with one <keyword id="142327" type="PERSON" weightage="20" keywordseo="developer">developer</keyword> and project. The interest rates as also the terms and conditions of the developer’s chosen bank must be agreed upon.”

Buyers’ Alert: Are you investing in these markets? It’s time to rethink

New Delhi [India], May 23 (ANI): Once notorious for oversupply and all-round market disarray, Delhi-NCR's real estate sector is witnessing a reversal of winds as the unsold inventory in the region has declined by a massive 57 per cent in the last five years, the latest report by real estate consultant Anarock Group observed. The report added the unsold real stock in the national capital region declined from approx. 2 lakh units at Q1 2018-end to approx. 86,420 units by Q1 2024-end. In the same period, the main southern cities saw their unsold stock decline from approx. 1.96 lakh units in Q1 2018 to over 1.76 lakh units in Q1 2024. Gurgaon holds the highest stock with approximately 33,326 units, marking a 37 per cent decrease. Greater Noida follows with about 18,668 units, having reduced its stock by 70 per cent. Ghaziabad's inventory declined dramatically by 70 per cent to around 11,011 units. Noida saw a 71 per cent decrease, with approximately 7,451 unsold units remaining. Combined, Delhi, Faridabad, and Bhiwadi have about 15,964 unsold units, a 31 per cent reduction since 2018, as per the report. It further observes the top Southern markets Bengaluru, Hyderabad, and Chennai saw their collective unsold stock shrink by 11 per cent in this period. MMR and Pune in the West saw their cumulative unsold stock reduced by 8 per cent. In the East, Kolkata saw its unsold inventory decline by an impressive 41 per cent in the period. Citing the reason behind the low decline of unsold inventory, the real estate consultant added that there have been massive new property launches in Hyderabad, most notably over the last two years. The city saw its housing stock almost quadrupled in the last 5 years. Bengaluru saw unsold inventory decline by 50 per cent in this period. In the West, MMR and Pune saw unsold stock decline by 8 per cent in the last five years - from approx. 3.13 lakh units in Q1 2018 to approx. 2.90 lakh units in Q1 2024, the report added.

Unsold real estate properties decline in Delhi-NCR by 57%; Rate slower in Bengaluru, Hyderabad, Chennai

The government's <keyword id="20039960" type="General" weightage="100" keywordseo="One-Health-approach" source="keywords">One Health approach</keyword> is vital for both predicting as well as preventing any future <keyword id="21218421" type="General" weightage="20" keywordseo="zoonotic-outbreaks" source="keywords">zoonotic outbreaks</keyword> (disease that jumps from animals to humans), health experts opined on Saturday, ahead of the <keyword id="135993" type="General" weightage="20" keywordseo="world-health-day" source="Orion">World Health Day</keyword> which is marked every year on April 7. This year's theme '<keyword id="21218422" type="General" weightage="20" keywordseo="my-health" source="Orion">My Health</keyword>, <keyword id="21218423" type="General" weightage="20" keywordseo="my-right" source="Orion">My Right</keyword>' focuses on equal access to quality health care. "The government's focus on the '<keyword id="6494932" type="General" weightage="20" keywordseo="one-health" source="Orion">One Health</keyword>' approach, recognising the interconnection between human, animal, and environmental health, is vital for predicting and preventing future zoonotic disease outbreaks," Dr. Rohit Garg, consultant, infectious disease, Amrita Hospital Faridabad, told IANS. The experts noted that the country's response to recent outbreaks of the Covid-19 pandemic and the Nipah virus demonstrates its evolving capacity to manage infectious diseases, adding that lessons from each event have helped the country improve its preparedness for future pandemics, including the hypothetical <keyword id="6328063" type="General" weightage="20" keywordseo="Disease-X" source="Orion">Disease X</keyword>. "India's response to recent disease outbreaks has been moulded by our experience with Covid-19. Recent moves to expand the existing network of biosafety-level 3 and 4 laboratories, to expand surveillance for respiratory viruses, invest in diagnostic infrastructure, and formulate a One Health approach towards emerging diseases are welcome and important steps towards tackling such challenges," Gautam Menon, Dean, Research and Professor of Physics and Biology, Ashoka University, told IANS. Besides ramping up testing facilities, expanding healthcare infrastructure, contact tracing during the pandemic and the vaccination drive were among India's significant measures. The latter was one of the largest globally, with India also developing an indigenous vaccine, Covaxin, alongside deploying other vaccines. "These actions highlighted the country's ability to mobilise vast resources and innovate under pressure," said Dr Rohit. Similarly, during the Nipah virus outbreaks, although more localised, India employed rapid response teams, enhanced surveillance and implemented containment measures. "India, post-pandemic, is very different in terms of capacity for pathogen surveillance and pandemic prevention or control when compared to pre-pandemic times. This is partly infrastructural, in terms of greater scientific and health capacity, but mostly structural in terms of better-defined roles for existing organisations, and creation of new multi-stakeholder institutions e.g. for OneHealth," Anurag Agrawal, Dean of Bio Sciences and Health Research at Trivedi School of Biosciences at Ashoka University, told IANS.

Ahead of World Health Day, experts reiterate importance of govt's One Health approach in preventing future zoonotic outbreaks

July's here, and as we inch closer to the budget, which is set to be presented around the latter half of July, there is much talk about how it will affect our pockets. Reports suggest the government is considering raising the <keyword id="20429578" type="General" weightage="20" keywordseo="standard-deduction" source="keywords">standard deduction</keyword> threshold from existing Rs 50,000 to Rs 1,00,000, amidst other things. The most common wish for a salaried employee is to reduce the income tax rates across all slabs, but at the moment, this seems unlikely. That aside, we decode the common man's wish list and what they look forward to in terms of <keyword id="22225988" type="General" weightage="20" keywordseo="income-taxes" source="keywords">income taxes</keyword> as the Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> drafts the budget. <h2>Wish 1: Raise the standard deduction to Rs 1 lakh</h2>A standard deduction is a fixed amount that you can deduct from your taxable income right away, to reduce your overall tax liability. You do not need to furnish any proofs for this amount. Currently, this stands at Rs 50,000, under both old and new tax regimes. Raising this threshold to Rs 1,00,000 will mean more disposable income in your hands. And as per the policy experts, this is the most likely change that we can expect under the new budget. <h2>Wish 2: Increase the <keyword id="20228341" type="General" weightage="20" keywordseo="basic-exemption-limit" source="keywords">basic exemption limit</keyword> in new tax regime</h2>As per EY's pre-budget expectation report, an increase in the basic exemption limit from the present Rs 3,00,000 to Rs 5,00,000 would immensely benefit the common man. Earlier, this limit was set at Rs 2,50,000. Note that unless you specifically opt for the old regime, the new tax regime is considered as your default choice starting 2023. If your annual income is equal to, or falls below this basic exemption limit, you do not have to pay any income tax. <h2>Wish 3: Increase tax-free limit of LTCG gains </h2>At present, if you sell any equity mutual fund unit or share after more than 12 months of holding it, you'll have to pay a 10% long-term capital gains (LTCG) tax. However, within one financial year, long-term capital gains below Rs 1,00,000 are tax-exempt. As EY's report notes, raising this extant tax-free limit to Rs 2 lakh would be beneficial, especially in boosting long-term investing sentiment in the country. But will this come true? Only Nirmala Sitharaman knows! <h2>Wish 4: Consider some tier-2 cities as metros for HRA exemption </h2>Residents of Gurugram, Noida, Bengaluru, listen up! HRA, or House rent allowance is a crucial component of our salary, and hence, our tax planning as well. You can get HRA exemption on the lowest amount amidst these 3: 1. Actual HRA received 2. 50% of salary for metro cities (Delhi, Mumbai, Kolkata, Chennai) 3. 40% of salary for non-metro cities 4. Rent paid- 10% of salary But its no secret that residents of nearby cities like Noida, Gurugram, Faridabad, or rapidly developing urban hubs like Pune, Ahmedabad, Ghaziabad, Hyderabad, Bengaluru, Thane bear the brunt of sky-high residential rents that takes a huge toll on their monthly income. Yet, they cannot claim 50% of their salary for HRA exemption. Since these cities has been classified as a non-metro, residents can claim a maximum of 40% of their salary as exemption. In case rent exceeds Rs 1,00,000 annually, you are also required to furnish the PAN details of landlord, along with a formal rental agreement. Consider this. You live in Delhi, and have an annual income of Rs 10,00,000. For HRA purposes, you can claim exemption of up to Rs 5,00,000, since Delhi is considered a metro. But, if you live in Ghaziabad, or Noida, the limit available to you sharply falls down to Rs 4,00,000. This budget, as reports note, considering these cities as metros for tax purposes would provide some relief to the common man's pocket. Per a recent report by ANAROCK research, the top 7 cities in the country (Mumbai metropolitan region, Hyderabad, Bengaluru, Pune, Delhi NCR, Chennai and Kolkata) saw an average price rise between 13-39% on a yearly basis. In fact, it was Hyderabad recorded the highest yearly price rise in residential property last quarter, jumping by as much as 39%. <h2>Wish 5 : Enhance exemption limits under the old regime</h2>The list is endless, but so are our wishes! Experts are also suggesting an enhancement in the existing limit for deduction towards interest on housing loan for self-occupied house. From its present limit of Rs 2 lakh, it should be taken to Rs 3 lakh. Also, the Rs 2-lakh cap on set off of house property loss against other heads in the same year should be done away with. For senior citizens, there should also be greater clarity on how funds received from <keyword id="19919089" type="General" weightage="20" keywordseo="nps" source="keywords">NPS</keyword> (National Pension System) via the systematic lumpsum withdrawal plan should be taxed. Well, we can only hope some, if not all of these wishes come true when finance minister presents the union budget in the parliament this month.

Budget 2024: Increase standard deduction, exemptions and more, an aam aadmi's wishlist

Zomato-owned quick commerce platform <keyword id="12724311" type="General" weightage="20" keywordseo="blinkit" source="Orion">Blinkit</keyword> has shut down over 100 dark kitchens in Delhi, Gurugram, Faridabad, Ghaziabad, Noida, and Greater Noida for the past three days due to the ongoing delivery worker strikes, and it is expected that a larger number of stores will also go offline in the coming days, according to reports. Delivery executives are opposing a change in their compensation system, which they allege will result in lower profits. The media reports said that about 50-60 stores in Gurugram have closed, with more closures expected in Noida and Delhi as the new fee structure is implemented. In addition, customers in the region have been facing difficulties placing orders at offline stores that use the Blinkit app. These locations are currently marked as 'temporarily unavailable' due to ongoing maintenance, which has prompted several customers to voice their concerns on social media. Blinkit operates approximately 400 dark stores in 20 cities throughout the country, with a significant presence in the Delhi-NCR region, where half of its stores are located. Meanwhile, Zomato's consolidated loss widened to Rs 346.6 crore (year-on-year) for the quarter that ended December 31, against a loss of Rs 63 crore in the same period last year, the company said. The company said that adjusted revenue witnessed a 66 per cent growth to Rs 2,363 crore (YoY). "We think that the current slowdown is a result of a few temporary factors -- macro slowdown for the mid-market segment, boom in dining out for the premium-end, and boom in travel at the premium-end," he said in the company's earnings results. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbis-mpc-decisively-in-a-rate-pause-territory-as-inflation-cools-down/articleshow/99497132.cms">RBI's MPC 'decisively' in a rate-pause mode as inflation cools down</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zepto-preps-for-public-listing-in-2-years-brings-in-ramesh-bafna-as-cfo-to-lead-ipo-process/articleshow/99514143.cms">Zepto preps for public listing in 2 years; Brings in Ramesh Bafna as CFO to lead IPO process</a>

Over 100 Blinkit dark kitchens shut in Delhi-NCR due to delivery boys' strike

New Delhi, <keyword id="1390483" type="General" weightage="20" keywordseo="Housing-sales" source="Orion">Housing sales</keyword> rose 8 per cent annually during the April-June period to 80,250 units across eight major cities, mainly on increased demand in Mumbai and Pune, according to PropTiger. Sales stood at 74,320 units in the year-ago period across primary (fresh sales) residential markets of the top eight cities. The housing brokerage firm on Wednesday released its Real Insight Residential - April-June 2023 report, stating that housing sales rose in three cities Mumbai, Pune and Ahmedabad but declined in other five major cities -- Delhi-NCR, Bengaluru, Hyderabad, Chennai and Kolkata. "India's top eight residential markets continue on a growth path. The RBI's decision to pause the hike in the key lending rate helped in sustaining strong positive sentiments for buying residential properties," Vikas Wadhawan, group CFO of REA India, said. PropTiger, Housing.com and Makaan.com platforms are owned by REA India, which is part of Australian firm REA, and News Corp. "The driving factors behind the uptick in housing sales over the last two years are pent-up demand from the COVID-affected period, growing appetite for home ownership, revival in the economy post-pandemic, and the evolving need for more spacious homes," he said. As per the data, housing sales in Ahmedabad increased 17 per cent to 8,450 units during the April-June period to 7,240 units in the year-ago period. Bengaluru saw a 19 per cent decline in sales to 6,790 units from 8,350 units while Chennai witnessed a 5 per cent fall to 3,050 units from 3,210 units. Housing sales in Delhi NCR fell 28 per cent to 3,230 units from 4,510 units. Hyderabad too witnessed a 3 per cent drop in demand to 7,680 units from 7,910 units. Housing sales in Kolkata decreased 40 per cent to 1,940 units from 3,220 units. Mumbai Metropolitan Region (MMR) saw a 16 per cent increase in sales to 30,260 units during April-June period from 26,160 units in the year-ago period. In Pune, sales increased 37 per cent during April-June to 18,850 units from 13,720 units in the corresponding period of the previous year. Delhi-NCR market includes Gurugram, Noida, Greater Noida, Ghaziabad and Faridabad while MMR includes Mumbai, Navi Mumbai and Thane. REA India Head of Research Ankita Sood noted that MMR and Pune contributed 61 per cent to total housing sales across 8 cities. Demand in localities such as Thane West and Dombivali in Mumbai and Charholi Budruk and Hadapsar in Pune have been high, she said. In terms of new housing supply, PropTiger reported that launches increased 11 per cent to 1,13,770 units during the April-June from 1,02,140 units in the corresponding period of the previous year.

Housing property sales in Bengaluru, Delhi sees a decline but Mumbai, Pune maintain pace

<ul><li>MMR accounted for 39% share in the new launches, whereas <keyword id="66" type="General" weightage="100" keywordseo="delhi" source="Orion">Delhi</keyword> had only 7% share. </li><li>New launches of MMR rose by 21% against the second quarter of 2022. </li><li>In Delhi, new launches saw a 9% year-on-year decline.</li></ul><keyword id="6741044" type="General" weightage="20" keywordseo="new-property-launches" source="Orion">New property launches</keyword> are picking up across top cities, as the sector has sharply recovered from its pre-pandemic lows. <keyword id="6361772" type="General" weightage="50" keywordseo="mumbai-metropolitan-region" source="Orion">Mumbai Metropolitan Region</keyword> (MMR) saw the most new launches in the third quarter, among the top seven cities.According to <keyword id="4695749" type="General" weightage="20" keywordseo="Anarock" source="Orion">Anarock</keyword>’s Q3 2022 Residential Market Overview, MMR accounted for 39% of the share of new launches – at 36,000 units. New launches in MMR rose by 21% against the second quarter and 118% as compared to the same quarter last year. Amongst the three sub-markets of MMR, Mumbai, contributed nearly 79% to the new supply, followed by 15% in Thane and the rest in Navi Mumbai. <keyword id="674224" type="General" weightage="50" keywordseo="delhi-ncr" source="Orion">Delhi NCR</keyword>, on the other hand, witnessed the highest year-on-year decline in new launches. During the quarter, its new launches accounted for a mere 7% of the total new supply in Q3 across the top seven cities. Approximately 6,400 new residential units were launched between July and September 2022, according to the report. Within Delhi NCR, Gurgaon had the highest supply share of 61% in Q3 but saw a decline of 9% against Q2. Greater Noida, at the second spot, saw a 19% q-o-q rise and also witnessed an increase in the new launch activity, contributing 28% to the NCR’s overall new supply. Noida and Faridabad are the two NCR markets which saw no new launch activity in the current quarter, the report said. <cmsannotation type="cmsannotation" annotationid="Delhi has more affordable supply" comment="subhead" text="Delhi has more affordable supply">Delhi has more affordable supply</cmsannotation> “In contrast to the preceding quarter, mid-end segment in NCR has surpassed the number of affordable housing launches to become the top launched price bracket among developers in the current quarter, accounting for 35% of new supply,” the report added. In MMR, most of the new supply was launched in the affordable, mid end and high end segments — accounting to 22%, 29% and 21% respectively, to new launches in the current quarter. Delhi also saw the highest drop in the inventory, whereas, MMR’s available inventory remained stable on a year-on-year basis, according to the report. NCR had 1.32 lakh unsold units by the end of Q3, while Mumbai had around 1.91 lakh units. MMR also recorded the highest sales of home properties among the top seven cities, with over 26,400 residential sales recorded between July and September this year. On the other hand, NCR recorded a decline in quarter-to-quarter housing sales by 2%, with only 15,000 properties sold in Q3 of 2022. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/95-indian-companies-experiencing-new-types-of-fraud-after-covid/articleshow/95530428.cms">95% Indian companies experiencing new types of fraud after Covid</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/paytm-sees-no-impact-from-lock-in-expiry-trends-show-heavy-buying/articleshow/95528992.cms">Paytm sees no impact from lock-in expiry, trends show heavy buying</a>

Mumbai tops in new property launches in Q3, Delhi saw the highest decline: Anarock

<keyword id="48503" type="General" weightage="100" keywordseo="alstom" source="Orion">Alstom</keyword>, a global leader in smart and sustainable mobility, has been awarded the contract to design, manufacture, supply, test, and commission 312 standard gauge metro cars for <keyword id="6366797" type="General" weightage="80" keywordseo="delhi-metro" source="Orion">Delhi Metro</keyword> Phase IV expansion by the <keyword id="66" type="General" weightage="80" keywordseo="delhi" source="Orion">Delhi</keyword> Metro Rail Corporation (DMRC). The order worth EUR312 million (Rs 2,643 crore approx.) includes the design and manufacturing of 234 standard gauge metro cars for Line 7 extension, which is 12.558 km of Pink line on the Mukundpur- Maujpur corridor and, the Line 8 extension, which is 28.92 km of Magenta line for the Janakpuri West - RK Ashram corridor, according to a statement from Alstom. Alstom will also design and manufacture of 78 standard gauge metro cars for the 23.622 km Silver line between Aerocity and Tughlakabad, including 15-year maintenance of these 78 cars. The statement said that Alstom would supply its Metropolis trainsets for this order. Metropolis trains offer a unique design, a wide range of configurations and ensure the highest performance due to the perfect combination of proven and reliable components and innovations, the company said. With its extensive track record, low lifecycle costs, and keen focus on passenger experience, Alstom said its Metropolis metros set the standard around the world. Talking about the new contract, Olivier Loison, Managing Director, Alstom India Cluster, said that "Delhi-National Capital Region (NCR) is amongst the largest urban clusters in the world. Faced with the realities of climate change, such megacities need reliable and sustainable public transport solutions. Alstom is pleased to continue the partnership with Delhi Metro, one of Asia's largest rapid transit systems. Our trains have a high recyclability of all materials and low-weight design to reduce energy consumption that will greatly contribute to minimising environmental impact in the region." Alstom said it had delivered more than 800 metro cars that are in service for the Delhi Metro network. The new trains will be built at Alstom's largest urban rolling stock manufacturing site in Sricity (<keyword id="37102" type="General" weightage="50" keywordseo="andhra-pradesh" source="Orion">Andhra Pradesh</keyword>), which has a strong portfolio of delivering for major domestic and international projects, according to the company. Currently, the Delhi Metro network consists of about 391 km with 286 stations. The network has now crossed the boundaries of Delhi to reach Noida, Greater Noida and Ghaziabad in <keyword id="6357713" type="General" weightage="50" keywordseo="uttar-pradesh" source="Orion">Uttar Pradesh</keyword>, Gurugram, Faridabad, Bahadurgarh and Ballabhgarh in Haryana. In addition to providing rolling stock, Alstom said it had in the past partnered with DMRC for several other projects, including the successful implementation of supply and commissioning of train control and signalling system for DMRC's Red line (L1), Yellow line (L2), Green line (L5), Violet line (L6), Pink line (L7) during Phase I, II and III. Alstom said it has also delivered metro trains for the cities of Delhi, Chennai, Lucknow, Kochi and is currently delivering trains and signalling for Bhopal-Indore Metro project, Kanpur-Agra Metro project, Mumbai Metro Line 3 and for India's first semi-high-speed rail network -- NCRTC-RRTS -- that connects Delhi, Ghaziabad and Meerut. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indians-want-faster-yet-sustainable-delivery-of-their-goods-fedex-report/articleshow/95581055.cms">Indians want faster yet sustainable delivery of their goods: FedEx report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/cityfurnish-raises-usd-2-5-million-in-debt-funding-round/articleshow/95582533.cms">Cityfurnish Raises USD 2.5 Million in Debt Funding Round</a>

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