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India’s 61,400 startups and 83 unicorns will boost realty: Pankaj Bansal

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Pankaj Bansal, Director M3M India, believes that 61,400 startups and 83 unicorns will look to invest in commercial and residential properties in NCR-Gurugram and NPR and Dwarka Expressway will be a game-changer.

As per Orios Ventures Partners report, the Indian startups have raised $42 billion in 2021, up from $11.5 billion in the previous year. The Indian government has also recognized 14,000 new startups in 2021. As on January 2022, India has 83 unicorns with a total valuation of $277 billion.

The latest Economic Survey 2021-22 also states that Delhi-NCR has replaced Bangalore as the new startup capital of India. Over 5,000 recognised startups were added in Delhi-NCR, while 4,514 startups were added in Bangalore in the last two years. Though, with a total of 11,308 startups, Maharashtra has the highest number of recognised startups.

The demand for office space in Delhi-NCR region has grown 50 per cent year-on-year in 2021, majorly due to strong absorptions by startups and technology firms. In 2021, the absorption in the office space segment was 6.3 million square feet and the startups absorbed 1 million square feet. By 2022, absorption of Grade-A office space is estimated to exceed 700 million square feet, with Delhi-NCR itself accounting for the majority of this demand. Delhi-NCR has grown by 35 per cent Y-o-Y, from 3.88 million square feet to 5.23 million square feet. The Dwarka Expressway is further going to boost this demand.

“India has become the third largest startup ecosystem in the world after US and China. India has added 33 Unicorns in a single year. India’s 61,400 startups and 83 unicorns are all set to give a booster dose to the Indian commercial real-estate market in the coming years. Startups have leased about 2.2 million square feet office space in 2021 in the top three metros of India—Delhi-NCR, Mumbai and Bengaluru—marking a 56 per cent rise from 2020 in tandem with a spate of $1 billion-plus valuations. Many reports now suggest that India may add another 50 fresh unicorns soon. These startups and unicorns would need office and residential space with most-modern amenities & facilities with good connectivity, and NCR-Gurugram and NPR is expected to be their first choice,” says Pankaj Bansal, Director – M3M India, one of the fastest growing real-estate company in India.

Pankaj Bansal adds, “Keeping the requirements in mind M3M India has recently launched M3M Capital in sector-113, Gurugram, a complete luxury golf residential project, which is on Dwarka Expressway with a top-line of Rs 4,000 crore. At present we have launched about 650 apartments of 2.5 and 3.5 accommodation, and the project has exclusive golf-courses, private foyer, green landscape, separate yoga & meditation area, and a 60,000 square feet clubhouse. The project has close proximity to Aerocity and Delhi International Airport, and is part of larger vision for Smart City Delhi Airport. The response has been immense and in the first three days of its launch the project clocked Rs.800 crore booking.”

The declaration of 16th January, as the National Startup Day by the Prime Minister Narendra Modi has given new enthusiasm to startups. Recently, Union Minister of State for Electronics and Information Technology, Skill Development and Entrepreneurship Rajeev Chandrasekhar also said that during the next 25 years, the Indian economy’s growth and expansion, as well as the creation of employment and investments, will largely be driven by the country’s startup and entrepreneurial ecosystem. NCR-Gurugram and NPR is going to be a major attraction for investors and post commencement of Dwarka Expressway, the demand for residential and commercial space is expected to increase exorbitantly.

International

Greek court finds 10 guilty over deadliest wildfire

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Athens, June 5: A Greek appeals court has handed down prison sentences to ten individuals for their roles in the 2018 Mati wildfire, the deadliest in modern Greek history.

The devastating blaze tore through the coastal resort town of Mati near Athens, claiming 104 lives and injuring more than 140 others. The tragedy shocked the nation and drew widespread criticism over the failures in emergency response.

Among those convicted were senior officials from the Fire Brigade, as well as regional and municipal authorities. An elderly resident was also found guilty of unintentionally igniting the fire by burning dry vegetation in his yard.

The court ruled on Wednesday that the actions and omissions of those convicted significantly contributed to the magnitude of the disaster, media reported, citing state-run Athens-Macedonian media reports.

The court issued cumulative prison terms ranging from 238 to 340 years. However, under Greek law, the actual time to be served will be substantially reduced. Four individuals are expected to serve up to five years in prison, while others may see their sentences converted to financial penalties.

Emotional scenes unfolded in the courtroom as families of the victims expressed both grief and outrage. Greek public broadcaster ERT reported that some relatives wept openly and confronted the defendants, demanding apologies.

On the evening of July 23, 2018, strong winds rapidly drove flames through the seaside town, turning the popular holiday destination into a deadly inferno within hours. The fire engulfed two coastal communities, scorched more than 14 square kilometres of land, and destroyed or damaged over 3,000 homes.

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International

US military announces detention of ISIS leader during operation in Iraq, Syria

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Washington, June 5: The US military announced the detention of an ISIS leader and the death of two operatives of the terror group during Defeat ISIS (D-ISIS) operations in Iraq and Syria.

“US Central Command (CENTCOM) forces supported six D-ISIS operations, five in Iraq and one in Syria, resulting in the two ISIS operatives killed, two detained, including an ISIS leader, and the recovery of multiple weapons. The operations served to disrupt and degrade ISIS’ ability to reconstitute, plan, organise, and conduct attacks against civilians and US and partner forces in the region,” said US CENTCOM in a statement on X on Thursday.

According to the statement, the US CENTCOM forces supported partner forces in operations in Iraq and Syria from May 21-27 in support of the ongoing D-ISIS campaign.

The Syrian Democratic Forces, enabled by US CENTCOM, conducted a D-ISIS operation near Deir ez-Zur from May 21-22, resulting in the capture of an ISIS operative.

Additionally, the Iraqi forces, enabled by USCENTCOM, conducted D-ISIS operations in northern Iraq, within the Salah al-Din Governorate, Kirkuk Governorate, and Al-Fallujah, from May 21-27, resulting in the clearance and destruction of multiple locations.

The operation led to the confiscation of small arms weapons and munitions, and the recovery of material for further exploitation, while two ISIS operatives were killed in action, and an ISIS leader was captured

“The US and members of the multinational Combined Joint Task Force – Operation Inherent Resolve (CJTF-OIR) maintain our ongoing commitment to the fight against ISIS,” stated US CENTCOM.

“Operations like these underscore the commitment of USCENTCOM, along with our allies and partners, to the enduring defeat of ISIS in the region,” said Gen. Michael Erik Kurilla, US CENTCOM Commander.

In 2014, ISIS declared a “caliphate” after it captured several parts of Iraq and Syria.

Later in late 2017, the Iraqi forces, with the support of international partners, defeated ISIS, which then lost its last territory in Syria two years later.

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International

Delegation meets EU representatives in Belgium, conveys India’s firm resolve against terrorism

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Brussels, June 5: The All-Party Parliamentary Delegation from India, led by senior BJP MP Ravi Shankar Prasad, held a series of high-level engagements in Belgium with Members of the European Parliament (MEPs), emphasising India’s resolute stance against cross-border terrorism.

The delegation visited the European Parliament and met with MEPs from the Delegation for Relations with India, the Committee on Foreign Affairs (AFET), and the Committee on Security and Defence (SEDE).

During the meetings, the Indian team provided a detailed briefing on the persistent issue of cross-border terrorism targeting India, particularly highlighting the April 22 terror attack in Pahalgam and India’s measured and strategic response through Operation Sindoor.

The discussions at the Parliament also revolved around strengthening India-EU strategic cooperation in counter-terrorism efforts, while broader themes such as high-level diplomatic engagements and deeper parliamentary exchanges were also addressed.

According to the Indian Embassy, “Taking India’s strong message against terrorism to the world, members of All-Party Delegation met with Members of European Parliament (MEPs) and discussed combating terrorism, including cross-border terrorism, global peace, and deepening of India-EU ties.”

The European Union unequivocally condemned the brutal attack in Pahalgam and expressed solidarity with India.

“The EU side was briefed about the heinous Pahalgam terrorist attack and the calibrated and targeted response of India through Operation Sindoor, giving the message of zero tolerance to terrorism. MEPs expressed their solidarity with victims of the Pahalgam terrorist attack,” the embassy added.

The Indian delegation also engaged with some of Brussels’ prominent think tanks and strategic experts, exchanging views on the global terror landscape and New Delhi’s expectations from the EU in tackling such threats.

These discussions further reinforced shared views on the necessity of a coordinated global response to terrorism.

“During our visit to Brussels, my colleagues from the all-party delegation and I engaged in a comprehensive discussion on the scourge of terrorism, particularly cross-border terrorism targeting India. We deliberated on India’s counter-terrorism initiatives, notably including Operation Sindoor, with prominent think tanks in the region. Our interaction underscored a unified and unambiguous stance of zero tolerance towards terrorism,” Ravi Shankar Prasad said in a post on X.

The nine-member delegation includes a diverse political representation: Ravi Shankar Prasad (BJP), Daggubati Purandeswari (BJP), Priyanka Chaturvedi (Shiv Sena-UBT), Gulam Ali Khatana (BJP), Amar Singh (Congress), Samik Bhattacharya (BJP), M. Thambidurai (AIADMK), former Union Minister M.J. Akbar, and former Ambassador Pankaj Saran.

Furthermore, the delegates interacted with members of the Indian diaspora who expressed their deep solidarity with the victims of recent terrorist attacks and backed India’s strong and principled stance against terrorism and its zero-tolerance policy.

The Indian parliamentarians underscored the vital role of the diaspora in amplifying India’s voice on the global stage.

On Wednesday, the delegation commenced its programme by paying floral tribute at the statue of Mahatma Gandhi at the Embassy — a solemn reaffirmation of India’s enduring commitment to the principles of peace, non-violence, and universal brotherhood.

After concluding visits to France, Italy, Denmark, and the UK, the Indian delegation is in Belgium as a part of India’s global diplomatic outreach campaign to highlight the significance of Operation Sindoor and the continued fight against Pakistan-sponsored cross-border terrorism.

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