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Tuesday,26-October-2021

Business

Unsold housing in Noida, Greater Noida down 12% in 2020: Anarock

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Amid restricted new supply in 2020, unsold housing inventory in Noida and Greater Noida in Uttar Pradesh reduced by 12 per cent in the year, a report by Anarock Property Consultants said.

The unsold inventory declined from 64,010 units as at 2019-end to nearly 56,620 units at 2020-end.

In contrast, Gurugram saw its unsold stock increase by 7 per cent in the same period to around 61,880 units at 2020-end.

From a new launch perspective, the whole of National Capital Region saw launch of around 18,540 units in 2020, of which Noida and Greater Noida accounted for a mere 15 per cent share, or around 2,800 units.

While Gurugram saw supply of nearly 11,180 new units during the year, denoting a significant 60 per cent overall share.

Faridabad saw launch of more new housing units in the year — around 3,050 units — compared with both Noida and Greater Noida.

Ghaziabad saw housing supply of just over 500 units in 2020 while Delhi saw absolutely no new launches last year.

Meanwhile, housing sales in the entire NCR was over 23,220 units in 2020. Of this, Noida and Greater Noida together comprised a 44 per cent share, or around 10,190 units, while sales in Gurugram stood at 7,240 units, a nearly 31 per cent share, said the Anarock report.

Santhosh Kumar, Vice Chairman of Anarock Property Consultants, said: “COVID-19 impacted both new launches and housing sales in all the top cities, including NCR. However, data trends clearly indicate the caution developers in Noida and Greater Noida exercised in terms of new launches.”

“These two markets previously had a lot of unsold stock. Developers’ focus is now primarily to complete and sell projects launched earlier. A reduction by over 12 per cent unsold stock in one year is remarkable, and indicates that developers’ offers and discounts bore fruits in this period,” he added.

Business

Equity indices trade lower; Sensex down by over 300 pts

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India’s key equity indices – S&P BSE Sensex and NSE Nifty50 – traded lower during Monday’s early-morning session.

At 10 a.m., the 30-scrip sensitive index traded at 60,504.75 points, down 316.87 points or 0.52 per cent.

The Sensex opened at 61,398.75 points from its previous close of 60,821.62 points.

Besides, the NSE Nifty50 traded at 17,989.40 points, lower by 125.50 points or 0.69 per cent.

It opened at 18,229.50 points from its previous close of 18,114.90 points.

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Nissan, Porsche face action over false emissions information

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South Korea’s antitrust regulator has decided to order Nissan Motor, Porsche AG and their two Korean units to take corrective steps for falsified information over gas emissions of their diesel cars.

Nissan Motor, Nissan Korea, Porsche and Porsche Korea are alleged to have stated false information about gas emissions of their diesel vehicles imported for sale in South Korea, according to the Korea Fair Trade Commission (KFTC).

The KFTC also decided to impose a fine of 173 million won ($146,700) only on Nissan Korea, reports Yonhap news agency.

Illegal software installed in their cars caused gas emission reduction devices to not fully operate during normal driving conditions.

The practice meant that the cars did not meet permissible emission levels, but the automakers falsified such facts in signs attached to their cars, according to the commission.

In September, the regulator fined Audi-Volkswagen Korea and Stellantis Korea a combined 1.06 billion won for similar allegations over gas emissions.

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Fuel price hike paused after 5 days of increase

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The price hike of petrol and diesel paused on Monday after increasing for the last five days to reach their highest-ever levels across the country.

Accordingly, the pump price of petrol in Delhi remained at Rs 107.59 a litre, while diesel prices also stood at Sunday’s level of Rs 96.32 a litre, according to a price notification of state-owned fuel retailers.

In the financial capital Mumbai, where petrol prices increased to Rs 113.47 per litre and diesel to Rs 104.47 a litre, the highest among all metros, there was no further hike in the retail rates on Monday.

The fuel prices remained static on October 18 and 19, but increased for a fourth straight day by 35 paise per litre previously before again rising for five consecutive days between October 20 to 24. There was no change in rates on October 12 and 13.

Diesel prices have now increased on 24 out of the last 31 days, taking up its retail price by Rs 7.80 per litre in Delhi.

Due to the sharp hike, the fuel is now available at over Rs 100 a litre in several parts of the country.

This dubious distinction was earlier available to petrol that had crossed Rs 100 a litre mark across the country a few months earlier.

Petrol prices had maintained stability since September 5 but oil companies finally raised its pump prices last week.

The rates increased on 21 of the previous 27 days taking up the pump price of petrol by Rs 6.40 per litre.

Crude price has been on a surge rising over a three-year high level of over $86 a barrel as global demand remains firm while OPEC+ continues to move s lowly on increasing production.

Since September 5, wthe price of petrol and diesel in the international market is higher by around $9-10 per barrel as compared to average prices during August.

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