Get subscribed to our newsletter
Get interesting updates to your email inbox.
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
Between zoom meetings, webinars, you're walking a tight rope to balance work from home and domestic chores, in all this its easy to forget about taking care of yourself. It's imperative to squeeze in a few hours to indulge in yourself, whether its a massage or a hair spa treatment.
It comes with a range of accessories which includes the 40mm Airwrap long barrels, 30mm Airwra barrels, a Firm smoothing brush, a Soft smoothing brush, a Round volumising brush, the Pre-styling dryer, a non-slip heat-resistant mat to place your styler on, a Storage case and even a Filter cleaning brush. A Storage bag (Iron/Fuchsia) securely stores your Dyson Airwrap when you're on the move.
The different styling attachments cater to unique hair needs and are designed for different hair styles. | File
The different styling attachments cater to unique hair needs and are designed for different hair styles. For instance the 30 mm barrels create and set voluminous curls. With clockwise and counter-clockwise barrels for symmetrical curls. The 40 mm barrels create and set loose curls or waves. The Firm smoothing brush creates a straighter style with less frizz ad fewer flyways, with firm bristles engineered to control unruly, frizz prone hair. The pre- styling dryer takes hair from wet to damp, ready for styling. The round volumizing brush directs air into the hair to give body, and the bristles create tension to shape hair as it dries, Ideal for limp, flat hair. To create a sooth, blow-dry finish. With soft bristles engineered to be gentle on the scalp.
It features three precise airflow speeds, to suit your styling and four precise heat settings, including constant cold shot. The cold shot immediately deactivates the heating element, for cooler air to set your style. The Coanda to curl barrels harness an aerodynamic phenomenon and the Coanda to smooth which uses Dyson brushes to attract hair to the surface of the brush, propelling air along the hair strands for a smooth, straighter style. It's powered by the Dyson digital motor V9, a 13-blade impeller spins at up to 110,000rpm, generating 3.2kPa. Powerful enough to produce the air pressure needed to create the Coanda effect. The intelligent heat control measures airflow temperature over 40 times a second, intelligently controlling the heating element to keep the temperature under a 150 degree Celsius. Preventing extreme heat damage. "Great styling and takes lesser effort than the usual blow drying. Saving lots of visits to the salon, absolutely love it!" says a salon regular who switched her weekly visits to the salon for the at home Dyson experience. (IANS/ MBI)
Keywords: Dyson, hair, hair styles, styling, airflow, non-slip heat-resistant mat, Pre-styling dryer, olumising brush, smoothing brush, Dyson Airwrap
An international team of astronomers has identified 366 new exoplanets, using data from the NASA Kepler Space Telescope's K2 mission. The findings, described in a paper published in the Astronomical Journal, showed a planetary system that comprises a star and at least two gas giant planets, each roughly the size of Saturn and located unusually close to one another.
The discovery is significant because it's rare to find gas giants -- like Saturn in the solar system -- as close to their host star as they were in this case. The researchers cannot yet explain why it occurred there, but it makes the finding especially useful because it could help scientists form a more accurate understanding of the parameters for how planets and planetary systems develop.
An international team of astronomers has identified 366 new exoplanets, using data from the NASA Kepler Space Telescope's K2 mission. | NASA
"The discovery of each new world provides a unique glimpse into the physics that play a role in planet formation," said lead author Jon Zink, a UCLA postdoctoral scholar. The findings could be a significant step toward helping astronomers understand which types of stars are most likely to have planets orbiting them and what that indicates about the building blocks needed for successful planet formation, acoording to the study. "We need to look at a wide range of stars, not just ones like our sun, to understand that," Zink said.
The term "exoplanets" is used to describe planets outside of the solar system. The number of exoplanets that have been identified by astronomers numbers fewer than 5,000 in all, so the identification of hundreds of new ones is a significant advance. Kepler's original mission came to an unexpected end in 2013 when a mechanical failure left the spacecraft unable to precisely point at the patch of sky it had been observing for years.
But astronomers repurposed the telescope for a new mission known as K2, whose objective is to identify exoplanets near distant stars. Data from K2 is helping scientists understand how stars' location in the galaxy influences what kind of planets are able to form around them. (IANS/ MBI)
Keywords: Astronomers, discover, possible, exoplanets, telescope, mission, planets
Canadian researchers have discovered an overlooked gene that plays a major role in the development of antibodies, which help the immune system recognize and fight viruses including SARS-CoV-2, bacteria and other causes of infectious disease. The gene -- FAM72A -- facilitates production of high-quality antibodies by enabling the effect of an enzyme called AID (for Activation-Induced Deaminase), the researchers showed.
Immunologists have known for two decades that AID is essential to produce antibodies capable of clearing infections, but the full mechanism of its effect has remained unknown. "Our findings answer the long-standing question of how AID does its work," said Alberto Martin, a professor of immunology at the University of Toronto's Temerty Faculty of Medicine. "FAM72A helps AID to promote mutations in antibody genes that are essential for the development of effective antibodies," he added.
Genetic mutations that lead to lasting changes in DNA occur through a process called mutagenesis. | Pixabay
Genetic mutations that lead to lasting changes in DNA occur through a process called mutagenesis. In the context of antibody development, mutagenesis unfolds largely through the AID-driven mechanisms called somatic hypermutation and class switch recombination -- both of which help antibodies gain the diversity and potency they need to counter a wide range of pathogens.
The results published in the journal Nature will help researchers better understand antibody development broadly, but they also have implications for cancer. Uncontrolled mutagenesis in B cells that produce antibodies is linked to B cell lymphoma, and FAM72A is present at very high levels in other cancers such as gastrointestinal, breast, lung, liver and ovarian cancers.
"Our data show that high levels of FAM72A promote mutations in antibody genes, so increased levels of FAM72A could spur cancer development, progression or drug resistance by increasing mutagenesis,a Martin said. Martin's team is now exploring those possibilities. Intriguingly, unlike other mammals, humans have four gene versions of FAM72A and their roles in cancer and antibody production are still unknown. (IANS/ MBI)
Keywords: researchers, cancer, mutagenesis, antibody, development, antibodies, canada, COVID