Monday, June 18, 2018

Latest News

 India Pharma Week to take place at India Expo Mart in...

Indian pharmaceutical sector is expected to grow to US$ 100 billion by 2025. UBM India, India's leading B2B exhibition organizer, is all set to bring in...

BrandZ™ Top 100 Most Valuable Global Brands

Tech, Content and Creativity Drive Biggest Ever Rise in BrandZ™ Top 100 Most Valuable Global Brands Eight out of the Top 10 are technology...

DMI AIF scheme close at USD 250 million

DMI AIF has a nine-year life and will make special opportunity investments into structured debt and equity in real estate companies DMI Alternatives Pvt. Ltd.(“DMI...

WNS partners with Hyperion Insurance Group

WNS and Hyperion Insurance Group announced a global shared services partnership WNS (Holdings) Limited, a leading provider of global Business Process Management (BPM) services, and...

Fynd organizes Hackxagon

Open sourced 13 projects in a day that were made public in the Fynd GitHub account As an initiative to give back to the open...

Arm acquires Stream Technologies

Arm to expands IoT connectivity and Device Management capabilities with Stream Technologies acquisition Stream Technologies and Mbed IoT Device Management Platform together deliver seamless onboarding,...

Wipro to digitalize Nokia’s sales order management operations

In perspective of new 5G and IoT business, Nokia aims to transform its supply chain and sales order management processes. Wipro Limited, a leading global...

LATAM Cargo awards contract to Wipro

Wipro to deploy its end-to-end cargo management system – CROAMIS LATAM Cargo, the leader group in air cargo transport to, from and within Latin America,...

Jet Airways launches service under RCS

Jet Airways connects Allahabad with Lucknow and Patna, airlines will deploy its 72-seater ATR aircraft on the RCS routes Jet Airways, India’s full-service premier international...

Myntra launches Roadster Go

Myntra Curates Roadster Go – the Speed Shopping Store First fashion retail outlet in the country to introduce the concept of a 30 second...

MARG ERP partners with ICICI Bank

  Marg ERP limited, a leading Inventory and Accounting software solution company has partnered with ICICI Bank, India’s largest private sector bank by consolidated assets,...

Wipro recognised with National IP award

Wipro’s Intellectual Property Portfolio Recognized with National IP Award and WIPO Enterprise IP Trophy Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global...

YES BANK launches YES SCALE

YES SCALE is a Multi Sector Accelerator to support Sunrise Sectors of the Economy BANK, India’s fourth largest private sector bank launched its in-house multi-sector...

ONN Bikes launches Dock-less Scooter sharing

ONN Bikes launches dock-less scooter sharing service in Bengaluru, plans to expand to other metros soon ONN Bikes, India’s fastest growing scooter/motorbike sharing start-up, has...

Essel bags three projects in Andhra Pradesh

Essel Infraprojects Ltd. bags three Waste to Energy projects in Andhra Pradesh Hitachi Zosen India Private Limited awarded the contract for delivery of the projects ...

LANXESS launches new PBT compound for electric cars

  LANXESS launches new PBT compound for battery components in electric cars Extremely low warpage and particularly high flame retardance Joint material development with HELLA Complies...

“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


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