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New Delhi: Steel companies in the country are likely to face margin pressure in the third quarter of FY25 as muted steel prices compress spreads, according to a report by Axis Securities. The report stated that the weak demand in China and higher exports from the country have been identified as key factors behind the decline in steel prices. The report highlighted that <keyword id="24048830" type="General" weightage="20" keywordseo="Chinese-steel-exports" source="keywords">Chinese steel exports</keyword> reached 92 million tonnes per annum (MTPA) between January and October 2024, marking a 22 per cent year-on-year increase. This has led to an oversupply in the global market, weighing down prices domestically. It said "Weak Chinese domestic demand along with higher Chinese exports has led to a decline in steel prices in India. Chinese steel exports from Jan'24 to Oct'24 stood at 92 MTPA, up 22 per cent YoY" In India, the average price of hot-rolled coil (HRC) steel in the trader's market in Mumbai fell by 8 per cent year-on-year and 6 per cent quarter-on-quarter to Rs 51,802 per tonne in the second quarter of FY25. Spot prices have further declined to Rs 49,000 per tonne, 5 per cent lower than the Q2FY25 average. The report also noted some signs of recovery in China's residential property sector, with increased transactions in major cities following policy measures aimed at boosting demand. However, challenges remain, as the three-month moving average of year-to-date floor space declined by 19 per cent year-on-year in September 2024, remaining in negative territory. It said "China's residential property sector is showing some signs of improvement with the transactions in major cities rising after recent policy measures introduced to boost demand". On the global front, the report noted that the probability of a 25-basis point rate cut by the US Federal Reserve in its December 2024 meeting has fallen to 58.9 per cent, down from 76.8 per cent in October 2024, owing to strong economic data from the US. Additionally, China has removed a 13 per cent export rebate on aluminum and copper, effective December 1, 2024, in response to anticipated tariff measures by the new US administration. These developments highlight the ongoing challenges and potential shifts in the global and domestic steel and metals markets.

Falling steel prices amid Chinese export surge, to reduce profits of companies in Q3 FY25: Report

Deciding whether to rent or buy a home is one of the biggest financial choices most people will make. It’s not a straightforward decision, especially when considering the rapid increase in <keyword id="21530105" type="General" weightage="20" keywordseo="rental-prices" source="keywords">rental prices</keyword> in some of India’s biggest cities. Let’s dive into how the cost of renting has risen compared to buying, and whether it's still worth it to rent or if it’s time to start looking at <keyword id="20879400" type="General" weightage="20" keywordseo="homeownership" source="keywords">homeownership</keyword>. <h2>Soaring renting costs</h2>If you’re renting in cities like Bengaluru, Pune, or Kolkata, you might have noticed something frustrating — your rent seems to keep going up. According to <keyword id="20974307" type="General" weightage="20" keywordseo="ANAROCK-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="ANAROCK Research" meta.hostid="261" meta.entityid="ANAROCK Research">ANAROCK Research</keyword>, in several of India’s top cities, rental prices have jumped significantly, even more than <keyword id="21006188" type="General" weightage="20" keywordseo="property-values" source="keywords">property values</keyword> in some places. For example, in Bengaluru’s Sarjapur Road, average monthly rents shot up by 67% between the end of 2021 and the middle of 2024. If you were paying Rs 21,000 in rent at the end of 2021, that would now be around Rs 35,000 a month! And Bengaluru isn’t the only city where renters are feeling the squeeze. In Pune’s Hinjewadi, rent prices have surged by 52%, while property values went up by just 31%. Similarly, in Kolkata’s EM Bypass, rents rose by 46%, but property prices saw a much smaller bump of 15%. But there are cities where buying makes even more sense because property prices are outpacing rental costs. In Hyderabad’s Gachibowli, for instance, while rent went up by 50%, property values soared by 70%. This trend is also seen in NCR’s Sohna Road, where rents increased by 40%, but property prices grew by 54%. <h2>Is renting really worth it?</h2>Let’s say you’re living in a 2BHK flat in Bengaluru, paying Rs 50,000 a month in rent. It might seem like an okay deal at first, but when you look at the long-term cost, things get tricky. Dr Prashant Thakur, Regional Director &amp; Head of Research at ANAROCK, breaks it down: "One-year payable rent for the individual is Rs 50,000 x 12 = Rs 6,00,000. For the next 10 years, the total rental outgo, including an annual rental increase of 7%, will be around Rs 83 lakh. This rental outgo is almost 69% of the total cost of this property — and this is just an expense with no investment value accrued." <div type="Article" hostid="261" msid="113367496" title="I bought my dream home, but the difficult process and higher cost sometimes make me wish I&amp;#39;d stuck with renting" mstype="2" mssubtype="0"></div>What does that mean? If you keep renting, you’re essentially throwing money out the window without gaining any ownership of the home. While you may have the flexibility that comes with renting, your hard-earned money doesn’t build any long-term value. <h2>Is it time to make the home purchase leap?</h2>So, what if you took the plunge and bought the place instead? Let’s say you’re eyeing a Rs 1.2 crore apartment and can afford to put down a 20% down payment, with the rest coming from a 10-year home loan at 9.5% interest. Dr. Thakur explains, “If the individual opts to buy the property via a home loan, has the financial wherewithal to make a 20% down payment, and borrows the remaining amount over a 10-year tenure at 9.5% interest rate, such a purchase is definitely profitable. Instead of spending a huge amount on rent, the individual can pay monthly EMIs and ultimately own the physical asset after a ten-year period.” With this approach, the monthly EMIs may be slightly higher than what you’re paying in rent, but there’s a key difference — you’re working towards owning your home. After 10 years, the home is yours, and you don’t have to worry about rent going up year after year. <h2>Homeownership isn’t just about the numbers</h2>While the math might lean towards buying, it’s not just about finances. For some people, renting makes more sense, especially if they don’t plan to settle down in one place for a long time. Job mobility, financial stability, and lifestyle choices all factor into this decision. However, something interesting happened during the COVID-19 pandemic. Many people, including millennials who had previously been all about renting, started reconsidering. The pandemic brought a sense of uncertainty, and suddenly, the security of owning a home became much more attractive. Dr. Thakur points out, "Amid a rising aversion to high-risk investments, an increasing number of tenants see rent as an expense, and EMIs as SIPs towards a non-volatile asset." <div type="Article" hostid="261" msid="113395713" title="Welcome to interest-rate cut week: Here&amp;#39;s how the Fed&amp;#39;s next move will impact everything from home prices to new cars loans" mstype="2" mssubtype="0"></div>Plus, home loan interest rates are currently lower, averaging between 8.75% and 9.5%, making homeownership more affordable than it has been in the past few years. And let’s not forget the tax benefits: Homebuyers can avail of deduction on principal repayment, interest charges, and a further deduction of Rs 50,000 for first-home buyers. The answer, as with most things, isn’t black and white. Renting offers flexibility, especially if your job might take you to a new city in a year or two. But with rents rising sharply in cities like Bengaluru, Pune, and Chennai, buying might be a smarter option in the long run. If you’re financially ready to make a down payment and secure a home loan, investing in a home could save you from steep rental hikes and give you the stability of owning a property.

Should you rent or buy a home? Here’s how much rental pricing has gone up compared to ownership cost in major Indian cities

Falling home prices are hitting homeowners in these 10 states the hardest &mdash; with up to 10% of mortgage balances now topping their property values

As India’s start-up ecosystem matures, a new trend is emerging: <keyword id="23791918" type="General" weightage="20" keywordseo="micro-acquisitions" source="Orion">micro-acquisitions</keyword>. This approach – focussed on buying smaller businesses – has become increasingly popular among Indian entrepreneurs looking for cost-effective growth avenues. Platforms like <keyword id="23791917" type="General" weightage="20" keywordseo="flippa" source="keywords">Flippa</keyword> are at the forefront of this shift, facilitating these transactions by offering a user-friendly, data-rich environment where buyers and sellers can connect seamlessly. In a country that has seen rapid growth in entrepreneurship, micro-acquisitions represent a shift from the traditional emphasis on large scale deals. And this trend is being fuelled by an influx of domestic funds and micro venture capital (VC) firms dedicated to nurturing early-stage startups. <h2>Changing Mindsets: Why Micro-Acquisitions?</h2>Entrepreneurs are turning to micro-acquisitions for the flexibility, speed and cost-efficiency that they offer. By targeting smaller, less capital intensive deals, they are able to side step the complexities of a traditional M&amp;A, making it a viable pathway for expansion and growth. Besides these can also help entrepreneurs diversify their holdings and adapt to market demands without overcommitting resources. Flippa allows Indian entrepreneurs to access a global marketplace where they can identify businesses aligned with their objectives. <h2>The M&amp;A Landscape in India</h2>While the US mergers and acquisitions market has seen slower growth, private capital inflows in India are on the rise, according to <a href="https://www.pwc.com/gx/en/services/deals/trends/private-capital.html">PwC</a>. The second quarter of 2024 proved to be a landmark period for Indian startups, with a 57% year-on-year surge in megadeals driving fundraising to an eight-quarter high of $5.2 billion, as reported by <a href="https://www.dealstreetasia.com/reports/india-deal-review-q2-2024">Deal Street Asia</a>. Flippa has capitalised on this trend. A marketplace founded in 2009 for buying and selling online businesses, it has amassed over 3 million users worldwide. As of <a href="https://flippa.com/data-insights?buy_sell=PR_DataInsights_EmbedGraphs">October 2024</a>, Flippa had 396,000 active buyers on its platform with a combined wallet of $75 billion, an increase of 15,000 active buyers month-on-month. This broad, engaged user base gives Indian entrepreneurs a diverse pool of acquisition targets, from digital properties to app-based ventures. Notably, data-driven app acquisition companies like KalaGato leverage Flippa to identify the right opportunities. “If you’re trying to get into the market, a platform like Flippa is a great place to start,” said Aman Kumar, Founder of KalaGato. <h2>Cutting Edge Technology At Work</h2>Flippa’s technology sets it apart, using a proprietary <a href="https://flippa.com/product/recommender-engine">matching algorithm</a> powered by an AI-driven graph neural network that assesses over 100 factors to match buyers and sellers. This technology streamlines the acquisition process, helping entrepreneurs find suitable opportunities more efficiently, especially in a crowded market like India, where navigating business brokers or directly approaching potential sellers can be time-consuming and fraught with challenges. “Flippa as a platform is continuously evolving. Once you start looking at exits or the potential to exit a business, then a platform like Flippa is super useful,” Kumar adds, emphasising the platform's adaptability to the needs of modern entrepreneurs. Another standout feature is its <a href="https://flippa.com/product/deal-room">multi-user Deal Room</a>. This comprehensive digital sales hub allows users to manage the entire sales process for online businesses and digital assets in one place. Sellers can communicate with buyers in real time, filter messages, and review offers and Letters of Intent (LOIs) within the Deal Room itself. This organisation is particularly helpful for entrepreneurs who may be overwhelmed by the volume of inquiries when trying to sell their business. The Deal Room provides real-time notifications about buyer engagement, ensuring that users can respond promptly and keep negotiations moving forward. Buyers are invited to the Deal Room on a scheduled basis, creating a structured interaction environment. <h2>Prioritising Security and Trust</h2>A secure transaction environment is crucial, especially for entrepreneurs new to acquisitions. Flippa’s <a href="https://flippa.com/product/insurance">insurance</a> policies offer this layer of security for both buyers and sellers. The Buyer Protect policy safeguards buyers against financial losses resulting from seller misrepresentation or breaches of warranty, covering up to 100% of the enterprise value of the business. Meanwhile, the Seller Protect policy shields sellers from potential financial losses, creating a balanced environment for transactions. This dual protection reinforces trust and allows the involved parties to focus on growth without worrying about potential hidden risks. <h2>Market Insights for Informed Decision-Making</h2>To further assist users in making informed decisions, <a href="https://flippa.com/product/market-insights/">Flippa Market Insights</a> provides valuable data on online businesses and digital assets. This tool enables users to compare prices of similar businesses, benchmark performance metrics like average order value and customer lifetime value, and access real-time sales data, including historical performance information. Users can filter this data by time period, business model, and price point, ensuring they have the insights needed to navigate the acquisition landscape effectively. Flippa’s expert vetting team reviews the stated financial performance of every asset priced above USD $50,000, providing an additional layer of credibility to the listings. <h2>A Bright Future for Micro-Acquisitions in India</h2>With the Indian startup ecosystem thriving and the appetite for micro-acquisitions only expected to grow, Flippa stands at the forefront by connecting ambitious entrepreneurs with the resources they need to succeed. Whether you’re an established business owner looking to expand your portfolio or a newcomer eager to dip your toes into entrepreneurship, Flippa offers a wealth of opportunities in this exciting landscape. So, if you are interested in starting your exit journey, get a free valuation for your business here - <a href="https://flippa.com/free-valuation">get a FREE valuation</a>. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

The rise of micro-acquisitions in India: How Flippa is driving the trend

<ul class="summary-list"><li>British billionaire David Sullivan has cut the price of his London mansion by about $13 million.</li><li>The businessman, who owns the West Ham United soccer club, said he is taking a loss on the property.</li></ul>British <a target="_blank" class="" href="https://www.businessinsider.com/category/billionaires">billionaire</a> David Sullivan has cut the price of his London mansion to £65 million (about $85 million), knocking about $13 million off of the previous asking price.Sullivan, an owner of the east London-based soccer club West Ham United, told <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-10-03/west-ham-united-owner-cuts-london-mansion-price-by-10-million">Bloomberg</a> that while he would now be selling the property for a loss, "you have to be realistic."<div type="image" title="A living area in the house." height="6191" width="8199" msid="113991316" hostid="261" sizebytes="1760512"></div>"Interest rates are high — they're coming down but not much," Sullivan said."I also think what the government is doing to the non-doms isn't very nice, and a lot of rich people are leaving the country as a result of what they anticipate in the budget. Three or four of my friends already have gone to Monaco or Dubai," he added.<div type="image" title="A meeting/dining room in the house." height="4480" width="6720" msid="113991310" hostid="261" sizebytes="1286418"></div>Sullivan, 75, was referring to planned changes to government policy that would remove certain tax advantages for wealthy UK residents whose permanent home — for tax reasons — is outside the UK.The proposed changes have led to uncertainty in the market, according to real-estate firm Knight Frank, with London's "super-prime market" seeing 22% fewer transactions in the 12 months to July compared to the year prior.And that's not ideal for Sullivan, who told Bloomberg he spent about £75 million (about $98 million) on his Marylebone property — £27 million (about $35 million) to buy the house in 2015 and almost £50 million (roughly $65 million) refurbishing it.<div type="image" title="A wine cellar in the property." height="4480" width="6720" msid="113991305" hostid="261" sizebytes="2075738"></div>According to Knight Frank, the 21,000-square-foot house at 33 Portland Place was built in 1775. It features 10 bedrooms, 10 bathrooms, a swimming pool, a wine cellar, a cinema room, a sauna, and a "sky lounge."One of the property's former owners, Edward Davenport, was convicted of a multimillion-pound fraud in 2011. He was released in 2014 after he was granted clemency on the grounds of ill health, <a target="_blank" class="" href="https://www.theguardian.com/uk-news/2015/may/20/fraudster-edward-davenport-sells-mansion-settle-13m-court-orders">the Guardian</a> reported.<div type="image" title="The house." height="1921" width="2561" msid="113991321" hostid="261" sizebytes="558170"></div>Under Davenport's ownership, the house hosted several famous guests and was famed for holding raucous parties.Supermodel Kate Moss once shot a campaign for Agent Provocateur on the property, while British music icon Amy Winehouse used it as the set for her "Rehab" music video. It was also used to film scenes for the Oscar-winning film "The King's Speech."<div type="image" title="A living area in the house." height="4379" width="6568" msid="113991318" hostid="261" sizebytes="1155658"></div>Davenport's website shows photos of him posing with various celebrities, from Paris Hilton to Daniel Radcliffe. One photo also shows him with Sullivan.Davenport <a target="_blank" class="" href="https://www.theguardian.com/uk-news/2015/may/20/fraudster-edward-davenport-sells-mansion-settle-13m-court-orders">purchased</a> the house from the Sierra Leone High Commission in 1999.<h2 id="61b8db58-ad1f-444e-b375-c69774aff86f">Who is David Sullivan?</h2><div type="image" title="David Sullivan." height="512" width="683" msid="113991308" hostid="261" sizebytes="18814"></div>Sullivan is worth about £1.2 billion (roughly $1.6 billion), according to The Sunday Times Rich List.The 75-year-old first made his money in the adult entertainment industry before moving into media, owning the Daily Sport and Sunday Sport newspapers.Speaking to <a target="_blank" class="" href="https://www.thetimes.com/article/sullivan-proud-of-his-record-as-true-blue-k5l5qw9dph0">The Times of London</a> about his career in 2006, Sullivan said: "I always had a burning desire to be fabulously rich because I came from a fabulously poor background.""I am not embarrassed by what I have done," he added. "I am not one of those people who tells the neighbours I'm in the print business. I'm in the adult entertainment industry and I have met some lovely girls and made a lot of money. I have given an awful lot of people a lot of pleasure and I have never hurt anyone."

British billionaire slashes the price of his London mansion by $13 million, saying the rich are fleeing the UK. See inside the storied property.

<keyword id="20069374" type="General" weightage="20" keywordseo="IT-services" source="keywords">IT services</keyword> firm <keyword id="19924892" type="General" weightage="20" keywordseo="Tech-Mahindra" source="keywords" meta.keywordsubtype="org" meta.entityname="Tech Mahindra" meta.hostid="261" meta.entityid="Tech Mahindra">Tech Mahindra</keyword> on Saturday reported a more than two-fold jump in its consolidated <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> to Rs 1,250 crore for the July-September quarter, driven by special income from the sale of assets. The Mahindra Group company posted a net profit of Rs 493.9 crore in the year-ago period, according to an exchange filing. Revenue rose by 3.49 per cent to Rs 13,313.2 crore in the second quarter of 2024-25 compared to Rs 12,863.9 crore in the same quarter of 2023-24. "Other income includes gain on sale of property of Rs 4,502 million which comprises of freehold land and its related buildings along with the furniture &amp; fixtures sold for a consideration of Rs 5,350 million, receivable over a period of four years along with interest of 8.2 per cent p.a," the company filing said. Sequentially, net profit rose by 46.81 per cent and revenue by 2.36 per cent. "We continue to progress on our strategic improvement efforts even as the overall IT services industry has remained soft. "We have focused on strengthening client relationships and expanding the partner ecosystem while maintaining a sharp focus on operational excellence through project Fortius, which has resulted in an expansion of margins for the third sequential quarter," Tech Mahindra CEO Mohit Joshi said. The CEO unveiled Project Fortius in April, a three-year plan to achieve a 15 per cent operating margin with a focus on organic growth. "This quarter we see consistent performance around increasing deal wins, <keyword id="19965932" type="General" weightage="20" keywordseo="revenue-growth" source="keywords">revenue growth</keyword>, cost optimisation and steady free cash flow generation as we continue our journey towards FY27 stated targets. In line with our capital allocation policy the board has declared an interim dividend of Rs 15 per share," Tech Mahindra CFO Rohit Anand said. The company's TCV (<keyword id="23580531" type="General" weightage="20" keywordseo="Total-Contract-Value" source="keywords">Total Contract Value</keyword>), or net new deal wins, stood at USD 603 million in the second quarter of FY25. Joshi further said the company is on the right path for a long-term sustainable transformation, with its leading indicators moving in the right direction, and its 'Scale at Speed' narrative resonating in the market. "We have invested in strengthening the capabilities in the focus service lines by broadening the leadership and investing in technical specializations. "We continue to invest in strengthening our fresher hiring program, building the right mindset and future skilling and associates, by building capabilities in AI-first and cloud-first skill sets," he told reporters. Investments shall continue in creating and sustaining an outcome-driven learning organisation and cultivating a high-performance culture based on the pillars of simplifying, clarifying, innovating and driving a high-performance orientation, he added. This year could be volatile because we are in the turnaround phase, Joshi said. "I am confident, however, that the platform is being set for a long-term, valuable franchise thanks to a high-calibre and united leadership team and a clearly articulated strategic plan," Joshi said. The Pune-headquartered firm added 6,653 employees during the quarter under review, bringing the total staff count to 1,54,273. Shares of Tech Mahindra settled at Rs 1,688 apiece on the BSE on Friday, down 0.68 per cent from the previous close. SEE ALSO:<a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms" target="_blank"></a> <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms" target="_blank">Best credit cards for online shopping this festive season</a><a href="https://www.businessinsider.in/stock-market/webstories/waaree-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114350114.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/waaree-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114350114.cms" target="_blank">Waaree Energies IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms" target="_blank">Best smartphones under ₹25,000 in India in October 2024</a>

Tech Mahindra profit jumps over 2-times to ₹1,250 crore in Jul-Sep quarter

India’s tech hubs see property prices zoom by around 30%

In a surprising turn of events, <keyword id="20137391" type="General" weightage="100" keywordseo="Nikhil-Kamath" source="keywords">Nikhil Kamath</keyword>, co-founder of India's biggest discount brokerage firm <keyword id="19913826" type="General" weightage="20" keywordseo="Zerodha" source="keywords" meta.keywordsubtype="org" meta.entityname="Zerodha" meta.hostid="261" meta.entityid="Zerodha">Zerodha</keyword>, left the internet divided by purchasing a house, despite recently having advocated voraciously for renting property in his popular podcast "WTF." Comedian Sonali Thakkar Desai took to X (formerly Twitter) to highlight this U-turn, noting that "Nikhil Kamath has bought a house after advocating for so long about how “renting is the best; only fools would buy property." So let this be a lesson to literally everyone who listened to him or any other finance bro and based their real estate decisions on rubbish reels." She further added that "Mutual funds and Nikhil Kamath's opinions are subject to market risk". Kamath, who has a net worth of $3.1 billion, acknowledged that a lack of control over one's living situation is one of the biggest drawbacks of renting, noting a personal incident where he had to unwillingly and unexpectedly move out of a house. However, he maintained his skeptical attitude toward real estate as an investment, calling it illiquid and arbitrarily priced in the high-end housing market. Kamath also highlighted that due to the sky-scraping costs associated with buying property, like stamp duties of 5-6% on property transactions, it is not economically feasible to frequently buy and sell real estate, as opposed to other asset classes like gold, stocks, and more. On his podcast, Kamath also highlighted that renting does not always translate into a profitable business. "I think nobody makes money from buying and renting a place. You do not have occupancy throughout the year for something like AirBnB. Accounting for inflation and interest rates, the return on this investment is negligible," he said. Kamath's decision has reignited the never-ending debate between renting and buying property. While some social media users pointed out that for the wealthy, the choice between renting and buying is largely inconsequential, others emphasized the immense emotional and stability benefits that came along with homeownership. Kartik Rangappa, who heads Zerodha's Varsity, recently tweeted that it is okay to keep the math and Excel sheets behind buying a house aside if it gives you a sense of security and peace of mind. "Owning a house versus renting is an endless debate often backed by elaborate excel sheet math. Keep the math aside and buy a home if it make you feel secure and gives you peace of mind. Peace of mind &gt;&gt; Excel sheet math," he tweeted on October 16, 2024. There is no denying the fact that owning a house is an expensive affair and a long-term financial commitment as well. Recent report from FICCI and ANAROCK suggest that the average budget range for a 2BHK in Gurgaon is anywhere between Rs 90 lakh and Rs 1.3 crore. Getting a 2BHK in Noida, another prominent satellite town of Delhi, can cost up to Rs 85 lakh to Rs 1.20 crore. As it is, with the central bank not looking to cut rates anytime soon, home loan interest rates are set to remain elevated, meaning higher EMI outflows from your pockets if you are looking to buy a home in the present environment.

Billionaire broker Nikhil Kamath buys home, leaves internet debating on renting vs. owning a house

<keyword id="19895040" type="General" weightage="100" keywordseo="real-estate" source="keywords">Real estate</keyword> was India's asset of choice for investment in the first half of 2024, noted a recent FICCI-ANAROCK report. About 59% of the 7,615 respondents across 14 Indian cities expressed their desire to invest in real estate. Out of these, 67% of respondents wanted to buy a house to live in it, while the remaining 33% viewed it as an investment. Out of this 33%, the majority (57%) wanted to earn rental yields from the same, while another 20% planned to sell their property after its price has appreciated significantly. The remaining 23% viewed real estate as an asset for securing their future. Even for millennials, buying a house featured at the top of their priorities. 66% of millennials and 41% of generation X respondents highlighted that they intended to utilize their investment gains to buy a house in the future. What was also notable was the significant decline in demand for ready-to-move in units and a corresponding rise in demand for under-construction units. During the first half of 2024, for every 20 individuals who preferred a ready-to-move-in house, 25 respondents chose a new launch or under-construction property. This ratio was at 32:21 in the first half of 2021. Some of the reasons why over 53% of homebuyers are dissatisfied with the current available options when it comes to <keyword id="20254620" type="General" weightage="20" keywordseo="affordable-housing" source="keywords">affordable housing</keyword> are location accessibility (92%), poor quality construction design (84%), and small unit sizes (68%). Even the supply in the affordable housing category across the top 7 Indian cities has considerably shrunk over the last 3 years, from 26% in 2021 to just 17% as of September 2024. However, this differed based on the city. While over 50% of respondents chose 3BHK apartments in cities like Chennai, Hyderabad, Delhi-NCR, and Bengaluru, over 40% preferred a 2BHK in other metros like Kolkata. Mumbai Metropolitan Region (MMR) and Pune. However, that does not mean that there is little demand for luxury homes. 28% of respondents preferred buying a house between the range of Rs 90 lakh and Rs 1.5 crore. This was a mere 18% prior to the pandemic. However, the most common budget range for houses remained between Rs 45-90 lakh, with 35% of respondents choosing the same. As far as under-construction properties are concerned, a staggering 98% of respondents prefer timely project completion, 93% choose improved construction quality, and 72% prefer a well-lit, ventilated home. The report further noted that Indians are increasingly inclined towards larger, more luxurious living spaces. 3BHKs and apartments remained the most preferred choice of residence and property type, with 51% and 58% of respondents opting for them, respectively. Residential plots were also seen gaining traction, particularly in southern India, with 30% of respondents in Chennai, 29% in Bengaluru, and 27% in Hyderabad preferring them. <keyword id="21483825" type="General" weightage="20" keywordseo="home-loan-interest-rates" source="keywords">Home loan interest rates</keyword> also significantly influenced home buying decisions. If the rates are below 8.5%, it would have minimal impact on buying decisions for around 71% of respondents. However, interest rates exceeding 9% would significantly impact 87% of buyers. With the RBI currently deciding to hold off on slashing interest rates in October for the 10th consecutive time, home loan rates are likely to stay elevated in the future. Experts estimate that the RBI will start cutting interest rates early next year.

Real estate continues to dominate India's investment portfolios, shows FICCI report

<ul><li>New launches went down by 2% in Mumbai, and by 4% in Ahmedabad in Jan-Mar 2024.</li><li>At 93,254 units, new launches surpassed sales across the top 8 cities during the first quarter of 2024.</li><li>Pune and Kolkata were the only top cities to see robust growth in sales and new launches. </li></ul>The country is in the midst of a real estate upcycle, yet the pace of new project launches has slowed down in the top four cities. The number of launches went down by 2% in Mumbai and 4% in Ahmedabad in the January-March quarter of 2024. <keyword id="19916484" type="General" weightage="20" keywordseo="national-capital-region" source="keywords">National Capital Region</keyword> (NCR) and Hyderabad showed a marginal 3% and 1% respectively, as per data launched by <keyword id="19895044" type="General" weightage="20" keywordseo="knight-frank-india" source="keywords">Knight Frank India</keyword>. But, that’s only half the story. Bengaluru’s new launches picked up by 9%, and three cities showed double-digit growth. Kolkata’s new launches grew by a whopping 89%, Pune’s grew by 15% and Chennai's by 10%. Overall, new project launches grew by 7% across the top 8 cities of <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>. “New launches were recorded at 93,254 units, surpassing sales in this quarter. Depleted older inventory drove consumers to newly launched properties at attractive prices, lowering average inventory age to 15.9 quarters in Q1 2024 from 16.7 at the end of 2023” says <keyword id="19895043" type="General" weightage="20" keywordseo="knight-frank" source="keywords">Knight Frank</keyword> in its report. Growth in home sales and new launches in Jan-Mar 2024 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">City </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;">Sales (% change) </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;">New launches (% change) </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 </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;">17% </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;">-2% </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;">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;">1% </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;">3% </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;">-2% </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;">9% </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;">14% </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;">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;">15% </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;">1% </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;">Ahmedabad </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% </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;">-4% </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;">8% </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% </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;">12% </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;">89% </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;">Total </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;">9% </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;">7% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Knight Frank India NCR and Bengaluru sales growth is tepid The overall sales across these cities in Q4 grew 9%, and five of them exhibited double-digit growth. Yet, there are two outliers — NCR sales grew by a marginal 1%, and sales fell by 2% in Bengaluru. Pune and Kolkata are the only two cities that saw a robust double-digit growth in sales as well as new launches. High-value home sales are growing at a faster pace than others. Homes priced at ₹1 crore and above accounted for 40% of the same. A year ago, they accounted for 29% of sales. The sales of such units grew by 51%. Units priced between ₹50 lakh to ₹1 crore fell by 6% YoY in Q4. Those under ₹50 lakh fell by 10% YoY, continuing a nine-quarter deceleration trend. “The residential segment witnessed a significant surge, propelled by continued growth in sales in the higher price category of ₹1 crore and above. This not only demonstrates a strong demand trajectory but also reflects buyers' confidence in making long-term commitments,” says <keyword id="20404833" type="General" weightage="20" keywordseo="shishir-baijal" source="keywords">Shishir Baijal</keyword>, chairman &amp; managing director of Knight Frank India.

New property launches dip in major Indian cities, sales growth tepid in Delhi-NCR, Bengaluru

<ul class="summary-list"><li>Airbnb CEO Brian Chesky said properties run by people with many listings had lower average ratings.</li><li>Chesky told The Verge's Decoder podcast that small-scale hosts give guests a "local feel."</li></ul>Airbnb CEO <a target="_blank" href="https://www.businessinsider.com/airbnb-ceo-brian-chesky-30-billion-startup-2016-8">Brian Chesky</a> said last week that hosts with more rental properties don't always get the best reviews.last week that hosts with more rental properties don't always give guests the best experience.Speaking on the October 28 <a target="_blank" href="https://www.theverge.com/24279570/airbnb-ceo-brian-chesky-founder-mode-apple-steve-jobs-management-decoder-podcast-2024">episode of The Verge's Decoder podcast</a>, Chesky described Airbnb's new Co-Host Network, a tool that connects homeowners with locals in their area who will manage their listings for a fee.The company prefers to feature smaller-scale operators in the Co-Host Network, he said."These would be people who only manage a few properties, so they're not going to be managing you and 100 other homes. Maybe three, four, or five other homes," he added.Chesky said that <a target="_blank" class="" href="https://www.businessinsider.com/airbnb-commercial-hosting-causing-mess-for-rental-housing-market-2022-7">professional third-party property management companies</a> often have grand ambitions."You tend to need economies of scale, so you're going to be managing hundreds of properties, even thousands of properties," he told Verge editor-in-chef Nilay Patel. "If you manage thousands of properties, now you have a whole bunch of employees. Then, you probably have a company name, and your employees probably wear a T-shirt with a company name on the T-shirt."But that growth and professionalization don't necessarily translate into guest satisfaction.Chesky said that the average review score for listings run by third-party managers was 4.62 out of five stars, which Chesky described as "significantly below the median range review score."In recent years, professional hosts with a large number of listings have played a significant role in the market as investors and third-party managers scaled up the number of properties on their rosters.In September, short-term-rental analytics site AirDNA <a target="_blank" class="" href="https://www.airdna.co/blog/the-best-airbnb-property-management-services">reported</a> that across Airbnb and its rival Vrbo, property managers with more than 21 active listings controlled 28% of all active listings and generated 36% of the industry's total revenue.Chesky said on the podcast that small-scale <a target="_blank" class="" href="https://www.businessinsider.com/hosts-contributed-to-airbnb-downfall-experts-fees-high-costs-say-2024-8">hosts</a> are more likely to offer a "local feel," an experience more aligned with <a target="_blank" class="" href="https://www.businessinsider.com/how-airbnb-was-founded-a-visual-history-2016-2">the company's original purpose</a>."It kind of moves Airbnb a little closer toward the roots," he said.In the company's third-quarter <a target="_blank" class="" href="https://www.businessinsider.com/airbnb-earnings-shares-most-interesting-things-cohost-2024-11">earnings call</a> Thursday, Chesky announced that the Co-Host Network debuted on October 16 with 10,000 cohosts already registered. In the first three weeks after its launch, an additional 20,000 individuals expressed an interest to join it, he said.<h2 id="53112fb8-a1fe-411a-884b-0fe9a2bd46a6">Airbnb's growth poses some new challenges</h2>Chesky's remarks on the podcast come during a key moment for the short-term-rental giant.Following explosive growth over the last decade, <a target="_blank" href="https://www.businessinsider.com/meteoric-rise-spectacular-fall-airbnb-queen-vacation-rentals-real-estate2024-4">especially during the pandemic</a>, cities around the world, from Barcelona to <a target="_blank" href="https://www.businessinsider.com/nyc-short-term-rental-airbnb-ban-housing-market-impact-data-2024-10">New York City</a>, are <a target="_blank" class="" href="https://www.businessinsider.com/cities-fighting-airbnbs-with-regulations-for-short-term-rentals-2022-5">reexamining their relationships with short-term rentals</a>. Some places are increasing taxes on Airbnbs, while others have opted for more restrictive rules like requiring homeowners to stay on-site with guests.Concerns that a growing number of Airbnbs <a target="_blank" class="" href="https://www.businessinsider.com/airbnb-ban-budapest-hungary-terezvaros-neighborhood-vote-referendum-2024-9">threatens the number of homes available for locals</a> has animated local debates over regulations, <a target="_blank" href="https://www.businessinsider.com/barcelona-airbnb-ban-florence-amsterdam-lisbon-are-regulations-working-2024-8">though research is still inconclusive</a> on how short-term-rental bans impact rents and home prices.On the podcast, Cheksy said that larger hosting operations can mimic "an industrial hospitality experience," like <a target="_blank" class="" href="https://www.businessinsider.com/airbnb-vs-hotel-some-travelers-choose-hotels-for-price-quality-2024-8">a hotel</a>."People want a local feel, as compared to Amazon, delivery, or other types of businesses where scale makes the service better," he said. "Hospitality at scale often makes the service more challenging."Chesky added that some large-scale hosts are better than others."If anyone's listening and they work at or are a third-party property manager, we love the ones guests love," he told The Verge. "Although the average rating across the board isn't as high, there are some unbelievable property managers, and we love them."

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