Monday, June 25, 2018

Latest News

Pramati technologies launches WaveMaker in India

Predicted to be a $27.2 billion-dollar market by 2022, low code is experiencing a steep growth curve. Pramati Technologies, the software product company widely known...

YES BANK releases Sustainability Performance Report

YES BANK becomes 1st Indian bank to release enhanced Sustainability Disclosures aligned to TCFD recommendations. YES BANK, India’s fourth largest private sector bank, has released...

Overseas capital investment in India touches USD 2.6 billion: Knight Frank

Overseas capital investment in India records 31% growth according to Knight Frank’s Active Capital: The 2018 Report. Knight Frank, the independent global property consultancy, today...

Unitary tax compliance system has simplified home buying process: Anuj Puri,...

One Year of GST: Impact on Real Estate. The Goods and Services Tax (GST), a revolutionary tax reform rolled out on the 1st of July...

Sunil Ranka accepted into Forbes Technology Council

Forbes Technology Council Is an Invitation-Only Community for World-Class CIOs, CTOs and Technology Executives. Sunil S Ranka, founder-CEO of Predikly, a data innovation company, and...

85 new malls in India by 2023: Anuj Kejriwal, ANAROCK Retail

30 new malls accounting for 14 million sq. ft. more retail spaces in top 8 cities by 2020. There is so much talk of the...

Gartner Inc. recogises Ramco Systems

Ramco Systems positioned in 2018 Gartner Magic Quadrant for Cloud Core Financial Management Suites, Focuses on delivering next-gen, self-running Financials with enhanced user experience,...

Tata Mutual Fund launches Tata Value Fund Series-1

~ NFO opens on 22nd June and closes ends on 6th July ~ Tata Mutual Fund today announced the launch of the Tata Value Fund...

Hero FinCorp Collaborates With Key FinTech Stakeholders

Hero FinCorp Collaborates With Key FinTech Stakeholders Like Goodwell Investments, IFC, CDC, and More, to Launch Globally Applicable Guidelines for Investing in Responsible Digital...

Senseforth Wins India ICT Awards 2018

Senseforth has won the ‘Artificial Intelligence Product of the Year’ award at the Frost & Sullivan India ICT Awards 2018. Currently in its 16th...

Metaform Ventures invests USD 1 million in Clinivantage

Metaform Ventures LLC, USA has invested in other leading startups in India like Picostone, Hey Deedee, Actofit, Agilebots,  Log9 Materials, Fitterfly, Exofit Sports amongst other...

HDFC Bank in Global Top 100 List

· HDFC Bank has been featured for the fourth time in the BrandZ’s Top 100 Global Brands List · HDFC Bank ranked at #60, brand...

77% of Indians are afraid of cryptomining malware infecting their devices:...

  Highlights: · 23% of consumers in India are unconcerned about cryptomining malware infecting their personal and smart home devices. · 39% believe that cryptomining malware cannot affect...

Kudos Finance opens branch in Nasik

Kudos Finance and Investments, a Non-Banking Finance Company, operates in the MSME (Micro Small & Medium Enterprises) space providing loans to small entrepreneurs. Kudos Finance...

Co-working demand set to triple in the next 3 years: Knight...

Knight Frank India, one of the leading International Property Consultants today launched a report on the changing perceptions of the workplace titled Co-working: The...

Cleartrip partners with Flyin

Cleartrip joins forces with Saudi Arabia’s Flyin, Emerges as the first Indian online travel player to go truly global The strategic transaction cements Cleartrip’s leadership...

“The new announcement by housing ministry is a major relief for home buyers living in Tier I and Tier II cities. Affordable sector has witnessed a major boost when the government has raised the carpet area by 33% for the middle income group. It will help people take decisions to buy their home as it will get more affordable and it will overall boost the construction sector. Apart from that Awas Yojana scheme augurs well with the RBI’s new decision in revising the home loan for Priority Sector lending (PSL) eligibility, as it will encourage and assist a major chunk of population from the middle income society to own a house.”-
         Rajeev Jain ,Director of NIRMAL


“Traditionally a lean period, monsoons have become the most awaited travel time of year in India over the years. Travellers who wish to avoid peak summer holiday season and enjoy the lucrative off-season deals often prefer to travel during monsoons. At Travel Tours, we have observed rising interest in queries for destinations such Goa, Kerala, Andaman, Darjeeling, Mysore, Ooty, Kodaikanal and more. The locales offer refreshing mid-year breaks into the lap of nature and truly enhance the flavour of monsoon. This year we have seen a steady uptake of 28% in monsoon bookings over last year. Additionally, the rise in bookings can be appropriately attributed to various promotional deals offered by airlines.”-
         Rakshit Desai, Managing Director of FCM Travel Solutions – Indian Subsidiary of Flight Centre Travel Group, Australia


“Government of India’s initiative to push affordable housing under PMAY has now reached its desired potential with the recent announcement by MoUD to increase the prescribed carpet area for MIG under CLSS. The carpet area definition of MIG as a category is relatively broader than the earlier eligible CLSS criteria and buyers who were buying flats or constructing houses, with carpet areas over 120 sq m or 150 sq m were not being able to avail benefits under the scheme. In general, the overall market performance and buyers sentiments has just started to return to levels seen pre- demonitization and other policy level interventions in the past 2 years. MoUD’s initiative to increase the carpet area for MIG category coupled up with RBI’s recent move to increase the loan limit will generate positive momentum and surely work in favour of the industry players and in the best of interest of the home buyers.”-
         Rakesh Reddy, Director of Aparna Constructions


“This move will bring in many more projects under CLSS especially in North India where projects are generally larger sized compared to other metros in India. This move will further reiterate customer confidence in mid and affordable housing segment in India as now home buyer can get a bigger house and enjoy interest subsidies on his home loan,”-
          Prasoon Chauhan, CEO of HomeKraft


“Revised carpet area of residential units for interest subsidy under CLSS is a welcome and practical move by the government for both homebuyers and real estate developers. This will allow home buyers from MIG (Mid Income Group) to have increased subsidy in home loans which will strengthen their home buying decision. On the other hand, real estate developers who had been facing problem of unsold inventories will be able to drive increased sales which will also address the predicament of urban housing shortage. The move is in sync with the revised loan limits by RBI for affordable housing transcending increased sales in the sector. We have seen growing demand for housing from mid-income group, which remains the largest segment by far specially in metros such as Mumbai. The statistics have already been showing significant shift in consumer preferences towards the mid-level budget homes and with the recent government’s initiatives, we certainly feel it’s a positive step towards vision of Housing for All.”–
         Amit Ruparel, MD of Ruparel Realty


NewsBarons is an online media platform for corporate news, business news and startup news.