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By Pankaj Bansal
According to a report released in August by the Indian Real Estate Industry, the real estate market is all set to reach a market size of $1 trillion by 2030, and will contribute 13 per cent to the GDP by 2025. The report also predicts the market growth to go up to $9.30 billion (about Rs 65,000 crore) by 2040. As per the Department of Promotion of Industry and Internal Trade Policy (DPIIT), the real estate sector is also the third largest sector in terms of FDI flow, it is second largest employment generator, and third largest sector to induce economic growth.
The sector that deals with housing, retain, hospitality and commercial is expanding with multi-fold increase in demand and growth in mandate from urban and semi-urban accommodations. Real estate is ranked third among the 14 major sectors in terms of direct and indirect or induced impact on all the sectors of the economy. The real estate sector is also the second largest sector in terms of employment generation, only after agriculture. It works in short term employment generation as well as long term.
The question is, what is driving the real estate sector in India so aggressively?
Is it the change in the need and mindset of the society for long term investment or it is that the government has decided to relax norms and policies to attract investment in real estate? The answer should be both. In July this year, the Securities and Exchange Board of India (SEBI) had lowered the minimum application value of Real Estate Investment Trusts from Rs 50,000 to Rs 10,000–15,000 to make the market accessible to small and retail investors. Even the co-living market in the top 30 cities, primarily metros, is set to grow almost double -- to about $14 billion from the current size of $6.70 billion.
Board of India (SEBI) had lowered the minimum application value of Real Estate Investment Trusts from Rs 50,000 to Rs 10,000–15,000 to make the market accessible to small and retail investors. | Photo by CHUTTERSNAP on Unsplash
According to another report by Savills India, the real estate demand for data centres is also increasing -- by 15-18 million square feet by 2025. The Central government has also given impetus to the sector by deciding to build 20 million affordable houses in urban areas across the country by the end of FY 2023. This is being done under Prime Minister Narendra Modi's Pradhan Mantri Awas Yojana (PMAY) scheme under the Ministry of Housing and Urban Affairs.
Going by various reports, Indian real estate sector attracted $5 billion institutional investments in 2020 itself, which is equivalent to 93 per cent of the transactions recorded in the previous year, and even the private equity recorded investments worth $3,240 million across around 20 deals in Q4 of FY 2021. As per the report from the DPIIT, construction sector is the third largest in terms of FDI inflow. The sector attracted $51.5 billion FDI between April 2020 and June 2021. Moreover, in Q3 of FY 2021, the housing sector stood at 62,800 units, which is an increase by 113 per cent YoY across all the top seven cities, as compared to 29,520 units in Q3 of 2020.
In Q3 of FY 2021, the housing sector stood at 62,800 units, which is an increase by 113 per cent YoY across all the top seven cities, as compared to 29,520 units in Q3 of 2020. | Photo by Carlos Muza on Unsplash
Of the seven cities, Mumbai accounted for 33 per cent of total sales, followed by the National Capital Region at 16 per cent. According to a JLL Report, between January and March this year, Noida accounted for 55 per cent of net absorption, followed by Gurugram at 38 per cent. Delhi-NCR has also been witnessing sharp increase in demand for office space.
Due to low mortgage rates and incentives extended by the developers, demand for residential real estate revived in Q4 of 2021. Blackstone, which is one of the largest private market investors in India managing about $50 billion of market value in the real estate sector, is looking to invest another $22 billion in the next 10 years. With all the above, the government initiatives will be the game changer. The 100 smart cities project is a commendable opportunity for the real estate sector. The tax deduction of up to Rs 1.50 lakh on interest on housing loan, and tax holiday for affordable housing projects have been extended until fiscal 2021-22.
Due to low mortgage rates and incentives extended by the developers, demand for residential real estate revived in Q4 of 2021. | Photo by Tierra Mallorca on Unsplash
Income tax relief measures for real estate developers and home-buyers for primary purchase/sale of residential units of value up to Rs 2 crore from November 12, 2020 to June 30, 2021 have been quite successful. The government has also set up the Alternate Investment Fund (AIF) that is set to revive around 1,600 stalled housing projects across the top cities in the country. The Union cabinet has approved the setting up of Rs 25,000 crore for the said purpose. The creation of AIF in the National Housing Bank and approval of 425 SEZs are going to further pump up the real estate market.
Finally, SEBI has also given its approval for the Real Estate Investment Trust (REIT) platform, which will allow all kind of investors to invest in the Indian real estate market. This is expected to create an opportunity worth $19.65 billion in the Indian market in the coming years. Knowing that there is a shortage of 10 million units in the urban areas and further knowing that 25 million units of affordable housing will be required by 2030, who can stop real estate sector to hold a minimum 13 per cent contribution in the GDP of the Indian economy? (IANS/ MBI)
Keywords: real estate, opportunity, government, india, investment, urban, housing, market, sector
During the National Youth Week, which runs from the 12th to the 18th of January to commemorate Swami Vivekananda Jayanti, experts have advocated for making India tobacco-free.
On the occasion of National Youth Day, Chairman of the NCPCR pushed for increased tariffs on a wide variety of tobacco products.India Today/wikipedia
Priyank Kanoongo, Chairman of the National Commission for Protection of Child Rights (NCPCR), pushed for increased tariffs on a wide variety of tobacco products at the webinar 'Freedom From Tobacco: What India Wants' on the occasion of National Youth Day.
According to Kanoongo, the price and ease of access to such fatal tobacco products is damaging, particularly to youngsters. Increased tariffs will not only make these items illegal, but the increased funds will also be utilised to treat and rehabilitate those who have been affected by tobacco-related ailments.
NCPCR proposed a rise in taxes on films, OTT, and other media that depict tobacco use in any manner, in addition to higher taxes on a wide variety of tobacco goods. "The imposition of a higher levy on media that depicts tobacco use would force individuals to pay more and will assist to prevent the glorification of tobacco goods. The NCPCR has also asked the government to spend all of the money raised from higher taxes on rehabilitation and prevention programmes "He had informed me.
Also read: ‘POCSO e-box’ : NCPCR to Report Child Abuse
"Tobacco firms are waging psychological warfare. They are pushing the sale of tobacco goods like as gutkha and beedi alongside chocolates, candies, and toys to young children by placing tobacco-related advertisements at their eye level at places of sale "Kanoongo said.
India currently loses over 13 lakh persons each year to tobacco and secondhand smoke. "Tobacco usage is on the rise, and it's concerning to observe that youngsters aged 13 to 15 make up 8.5 percent of those who use it," said Prof (Dr) Uma Kumar, Head of Rheumatology Department, AIIMS, New Delhi.
Tobacco smoking for a long period of time is dangerous and has been linked to cardiovascular disease, neurological disorders, stroke, lowered immunity, recurring infections, respiratory ailments, and auto-immune diseases. She advocated for a variety of policy measures to safeguard young people from this danger.
Shweta Shalini said youth are the ones who are most at danger from tobacco.DNA India/wikipedia
Shweta Shalini, a Maharashtra youth activist and BJP spokesman, said Swami Vivekananda defined youth as the country's strength and that their health should be their first focus. Today, however, they are the ones who are most at danger from tobacco. She emphasised the importance of strong tobacco-control policies. In reference to the e-book 'What India Wants,' which was issued during the show, Shalini stated that it has been demonstrated once again that the people of India want tobacco taxes raised in order to protect the youth from this threat. Even a significant proportion of cigarette smokers support a tax increase.
The e-book 'What India Wants,' produced on this occasion, is a compilation of findings from numerous polls and surveys, which show that more than 88 percent of respondents want the new tobacco control regulations to take effect. The survey results also show that the general public feels compelled to make India tobacco-free. This e-book includes a scientific study done in ten states as well as multiple Twitter polls conducted by concerned people.
Tobacco use is spreading across the country and is rapidly affecting our children and young. According to the most recent Global Youth Tobacco Survey, children as young as ten years old are now consuming tobacco products (GYTS-4). As a result, experts advocate for higher taxes and the passage of planned revisions to the tobacco-control law, COTPA, to provide a stronger deterrent to cigarette use.
The Central government is also hosting a number of national-level activities as part of the National Youth Week, which begins on January 12.
(Keywords: Strict laws, tax hike, tobacco products, Shweta Shalini, a Maharashtra youth activist and BJP spokesman, cardiovascular disease, neurological disorders, stroke, lowered immunity, recurring infections, respiratory ailments, and auto-immune diseases, AIIMS, New Delhi.)
The new efforts in the Himalayan area aimed at empowering members of the Gujjar-Bakerwal and Gaddi-Sippi groups appear to have alarmed Kashmiri lawmakers. These leaders are concerned that if these areas are given more influence, they would lose a significant portion of their voter base.
For the past 70 years, politicians have offered residents of indigenous communities verdant fields. They were told that they would be given all of their rights and treated equally to everyone else. Politicians, on the other hand, have failed to keep their promises. The transformation in J&K's status quo, on the other hand, has proven to be a watershed moment for these impoverished areas.
Manoj Sinha presented individual and community rights certificates to the beneficiaries of Gujjar-Bakerwal and Gaddi-Sippi communities.ET Government/wikipedia
Under the Forest Rights Act of 2006, Manoj Sinha, the Lieutenant Governor of J&K, presented individual and community rights certificates to the beneficiaries of Gujjar-Bakerwal and Gaddi-Sippi communities in September 2021. These rights were provided in order to usher in a new era of empowerment and prosperity for the Union Territory's disadvantaged aboriginal inhabitants. In places where community rights have been given, Rs 10 crore has been set aside for infrastructure development straight away.
The allocation of Rs 73 crore for cluster tribal model village was the first since 1947. The government has also started the process of establishing 1,500 tiny sheep farms to help these communities become self-sufficient. At a cost of Rs 16 crore, the 'Mission Youth,' in partnership with the Tribal Department, has launched on a mission to establish 16 milk villages to connect at least 2,000 young people to the dairy sector, as well as provide training, branding, marketing, and transportation services.
Tribal tribes have been given rights to small forest produce as well. The government has completed the process of establishing infrastructure for collecting, value addition, packaging, and distribution in collaboration with the Tribal Cooperative Marketing Development Federation of India Limited.
J&K government is also building transit accommodations at eight locations at a total cost of Rs 28 crore.Greater Kashmir/wikipedia
The J&K government is also building transit accommodations at eight locations at a total cost of Rs 28 crore to accommodate the seasonal transient population, with medical camps, animal yards, veterinary services, and proper security included. In Jammu, Srinagar, and Rajouri, the government has planned to construct Tribal Bhavans.
In the year 2020, tribal youngsters would receive Rs 30 crore in scholarships. In J&K, 1,521 seasonal schools for migratory children are being built, as well as two residential schools along the migratory path. The building of seven new hostels for tribal kids is nearly complete, and the UT administration has already requested to the Centre the construction of 79 more hostels.
The Delimitation Commission proposes 16 seats in the Assembly.
The Delimitation Panel, tasked with redrawing assembly and parliamentary districts in J&K, has suggested reserving 16 seats in the Union Territory for the Scheduled Caste (SC) and Schedule Tribe (ST) populations.
In its draught report, the panel, led by Justice Ranjana Prakash Desai, advocated nine seats for STs and seven seats for SCs in the future legislative assembly of Jammu and Kashmir.Parties in Kashmir are dissatisfied.
BJP's political interests by dividing people along religious and regional lines.Britannica/wikipedia
Kashmiri leaders responded angrily when the Delimitation Panel released its blueprint. They called the proposal "unacceptable" and said it was intended at separating J&K's communities. These parties claimed that the Delimitation Commission was set up solely to serve the BJP's political interests by dividing people along religious and regional lines, and that the real goal was to install a government in J&K that would legitimise the August 5 "illegal and unconstitutional decisions." Leaders of indigenous groups, on the other hand, welcomed the planned reservation for STs and SCs, calling it a historic step toward eliminating decades of prejudice against them.
The Jammu Development Authority termed the allegations as baseless and asked the politicians how can a government body carry out selective eviction drives? The JDA stated that due process of law was followed while carrying out the drive. The Authority said that 17 pucca and kacha structures raised upon the land were demolished and removed and 41 Kanal Prime land falling under khasra No. 1193 and 1206 was retrieved from the encroachers.
It seems that leaders of National Conference and Peoples Democratic Party have forgotten when they were in power many such demolition drives were carried out across J&K to retrieve the encroached land. It's strange that during their tenures such drives were legal but now these are illegal.
Also read: Difficult Lives Of Nomadic Gujjar-Bakerwal Tribe
Picking up holes
Kashmir based politicians are leaving no chance to pick up holes with whatever present dispensation is doing as they have been left with nothing to do. They have realised that members of tribal communities won't side with them as they fed them with slogans during their tenures. These leaders have foreseen that once the draft of Delimitation Commission is implemented they may end up losing 16 assembly seats. Leaders of tribal communities have on many occasions have stated that they were hoodwinked by the Kashmiri leaders and they won't support any of these regional parties who gave them "lollipops' for the 70-years.
The initiatives taken by the present dispensation have proven beyond doubt that if the erstwhile political regimes wanted they could have done a lot for these communities but tribal men and women were used as vote banks by the politicians. They were dumped soon after the elections ended. The attempts of politicians to give communal colour to the legitimate actions of the government are also not helping their cause as a common man has understood their machinations. The 'Naya J&K' is about including everyone and the actions of the government are speaking louder than its words.
(keywords: 'Naya J&K, Kashmir, National Conference and Peoples Democratic Party, Jammu Development Authority, STs and SCs, BJP, Delimitation Commission, Gujjar-Bakerwal and Gaddi-Sippi)
By Ila Sankrityayan
Parineeti Chopra, who will join Mithun Chakraborty and Karan Johar on the panel of judges for the reality programme 'Hunarbaaz Desh Ki Shaan,' says she had been waiting for a project like this for a long time and jumped at the opportunity.
"For the previous three or four years, I had been hunting around for a multi-talent show with a qualified panel of judges," Parineeti stated. And when I got the offer, I said to myself, "OK, this is it. This is the programme I've been waiting for."
"The most lovely aspect of this event is that it's a multi-talent presentation," she continued. This programme isn't only about singing and dancing; it's also about discovering talent from far-flung corners of India. This programme provides a platform for folks who would otherwise never have the opportunity to break into the Indian entertainment business and make it famous.
Also read: Parineeti talks about the importance
"However, they will get the opportunity to perform on a stage here. They will be seen by the entire country and the entire globe, and they will be able to start their careers. That is incredibly precious to me. And I'm thrilled to be able to accompany them on their adventure."
She is now promoting forthcoming films.NavBharat Times/wikipedia
The actress is now promoting forthcoming films like as Ranbir Kapoor's 'Animal' and Sooraj Barjatya's 'Uunchai.'
Parineeti may have a lot on her plate, but she's never had trouble managing her time. "I'll have to work doubly hard since I have to shoot for a show and two of my films," she told IANS. It'll be chaotic for me, but you know what they say: where there's a will, there's a way. You must schedule time for the things that matter to you."
"Of course, because I was seeking for a programme like this and it finally came to me, it is my obligation to create the time and rearrange my calendar in order to make it happen," she continued. That is exactly what I am doing at the moment. It isn't a challenge for me. I am looking forward to it.
Her two biggest pleasures, she added, are the opportunity to "be a good mentor with whatever little experience I have" and the opportunity to "learn from Mithunda and Karan, who are of course considerably more experienced in life and in their jobs than I am."
She is the judge on 'Hunarbaaz: Desh Ki Shaan'.Tribune India/Wikipedia
Aakash Singh's performance on 'Hunarbaaz: Desh Ki Shaan' made Parineeti cry, she said.
"There's a candidate named Akash who is remarkable because he comes from a very, very low family," Parineeti told IANS. "He didn't even have anything to eat, but he continued to work on his gift." "He persisted in his battle. And now he's progressed to the point where he can audition for this programme. When I watch folks who have very little in their lives striving but not giving up on their dreams, it makes me very emotional. I'm moved by their stories."
"Mithunda genuinely gets India, he knows the pulse of the people," Parineeti remarked of her fellow judges. "Karan is a prodigy at identifying talent," she continued."
When it comes to judging reality TV talent programmes, they're a dangerous pair," Parineeti said. "It's more about learning from them and becoming the best judge I can be for me, being on the same panel as them. But, of course, we have a particular relationship. And I get to spend so much time with them individually."
'Hunarbaaz: Desh Ki Shaan' will premiere on Colors on January 22 at 9 p.m.
(keywords: Hunarbaaz: Desh Ki Shaan, Mithunda and Karan, Parineeti, Ranbir Kapoor's 'Animal', Sooraj Barjatya's 'Uunchai)
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