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Friday,22-October-2021

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‘Low-cost housing, office spaces: Green shoots in subdued 2019’

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Economy

The Indian economy has been through a severe and a prolonged slowdown in 2019 and real estate remained a key element in it. However, according to an Anarock report affordable housing and commercial office spaces remained in demand compared to the other realty segments during the year.

“Affordable housing remained upbeat in 2019 thanks to multiple government sops throughout the year. First-time home buyers were given further tax deductions (now amounting to Rs 3.5 lakh in a year) on interest amount of home loans below Rs 45 lakhs availed within FY2020 end,” it said.

Luxury and ultra-luxury segments remained limited to end-user interest, with “no serious investor activity”, said the report by Anarock Property Consultants on Thursday.

For the housing sector, the only light at the end of the dark financial black hole was the announcement of the alternative investment fund (AIF) of Rs 25,000 crore to facilitate the completion of stuck affordable and mid-segment homes, it added.

Further, average housing prices in 2019 maintained status quo across the top seven cities, with a just 1 per cent yearly gain in Mumbai Metropolitan Region, Pune, Bangalore and Hyderabad. The National Captial Region and Chennai saw no change at all, while Kolkata saw a 1 per cent decline in 2019.

The report noted that the commercial office real estate flourished and remained the top-ranking real estate asset class during the year as residential continued to struggle under the funding crunch and slow annual sales growth.

Other asset classes like co-working, logistics and warehousing, co-living and student housing gained traction in 2019, attracting slow but steady investments, collectively $210 million.

“India’s office real estate sector was decidedly vibrant in 2019, with demand for Grade A office space spiralling upward while vacancy levels in prime locales reduced.”

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With ‘KBC13’ prize money, Farah raises Rs 16 cr lifeline for child with SMA

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amiyabh-dipeeka-farha

 Ace choreographer and director Farah Khan has fulfilled her wish to help a 16-month-old baby, Ayansh Madan, in his battle against a rare genetic disorder called the Spinal Muscular Atrophy (SMA). It has made Ayansh’s throat and lung muscles so weak that he cannot talk, cough or swallow anything.

The only cure for him was the drug Zolgensma, which is the world’s most expensive medicine. Farah, who was the special guest on ‘Kaun Banega Crorepati 13’ for its ‘Shaandaar Shukravaar’ celebrity episode, has contributed towards Ayansh’s treatment.

Farah, who had appeared in the episode with Deepika Padukone on September 10, had won Rs 25 lakh. She put up a post on her social media handle the very next day in which she said: “After an overwhelming response to the ‘KBC’ episode, everyone wanted to donate. … no amount is small.”

Towards the end of September, Farah posted: “Almost there! Thank uuuu #kaunbanegacrorepati for the boost in donations … thank you all generous souls who donated. Let’s continue.” At the time, Rs 11.82 crore had been collected for Ayansh’s treatment. Now, it turns out that the Rs 16-crore mark has been met and baby Ayansh can finally be treated.

Farah Khan posted: “I am so happy that the required amount, Rs 16 crore, has been collected for Ayansh Madan’s treatment. I would truly like to thank ‘Kaun Banega Crorepati’ for giving me a platform to talk about this and reach out to people far and wide.”

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Cache of arms, ammunition recovered in Kashmir district

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A cache of arms and ammunition was recovered in a joint operation carried out by the BSF and Jammu and Kashmir Police at Dardssun in North Kashmir’s Kupwara district, officials said on Thursday.

The Border Security Force (BSF) said the operation was carried out on the basis of a specific intelligence input in a forested area.

A large quantity of arms and ammunition, including one AK-47 rifle and three grenades were recovered.

“On the specific info of @BSF_Kashmir Troops of 172 Bn @BSF_India &A @JmuKmrPolice launched a joint search Ops in general area Dardssun forest, Kupwara & recovered 01 AK 47 Rifle with 790 Rds, 01 Silencer, 08 Detonator, 03 Chinese grenade, 03 Wireless set with antenna & 01 Compass,” BSF tweeted.

The security forces have been making relentless efforts towards maintaining peace in the region.

It is clear that the recovery of the weapon cache will defeat the designs of terrorists to derail the peace and stability in the valley.

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Healthy Q2 results’ expectation lift equities; Nifty50 breaches 18K-mark

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National-Stock-Exchange

 India’s key equity indices — S&P BSE Sensex and NSE Nifty50 — made gains during Monday’s mid-afternoon trade session.

In the process, Nifty50 breached the 18,000 points-mark. It touched a record high of 18,041.95 points during the intraday trade.

According to senior analysts, positive global cues along with expectations of healthy Q2FY22 results buoyed sentiments.

In terms of sectors, Media, Realty, PSE, Energy and Auto gained the most.

Consequently, the 30-scrip sensitive index traded at 60,414.28 points around 1.25 p.m., up 355.22 points or 0.59 per cent.

The Sensex opened at 60,099.68 points from its previous close of 60,059.06 points.

Besides, the NSE Nifty50 traded at 18,020.70 points, up by 125.50 points or 0.70 per cent.

It opened at 17,867.55 points from its previous close of 17,895.20 points.

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