Blog

45% Property Seekers in NCR and 32% in MMR Prefer to Buy 3BHKs – CII-ANAROCK Report

Mumbai, 19 April 2023: The consumer sentiment for bigger homes continues unabated. Out of a total of 4,662 survey participants, 42% currently prefer 3BHKs, finds the CII-ANAROCK report ‘The Housing Market Boom’ released at the 5th Edition of the CII Real Estate Confluence 2023 in Mumbai, where ANAROCK was Knowledge Partner, today. 40% of the surveyed participants prefer 2BHKs, 12% will opt for 1BHK, and 6% seeks homes exceeding the 3BHK configuration.

The two realty hotspots NCR and MMR have seen particularly strong momentum in the sale of high-ticket bigger homes over the last few quarters finds the report. Over 45% of property seekers in NCR are looking to buy 3BHK homes in the near future. In the expensive MMR, 2BHKs appear to dominate the preference charts of 43% of respondents in this region, but over 32% of buyers, there are looking to buy 3BHKs.

The report highlights the overall sentiments of buyers amid current headwinds including another possible rate hike by the RBI in the near future. If that happens, housing sales momentum in the top 7 cities may well be in for a bumpy ride as at least 96% of prospective buyers state that higher home loan rates will affect their homebuying decisions in the future.

For over 80% of property seekers, prices remain an important factor as apart from home loan rates, the basic cost of property has been on the rise in the last one year.

ANAROCK data reveals that average property prices across the top 7 cities increased in the range of 6-9% in Q1 2023 when compared to Q1 2022, mainly due to an increase in the prices of construction raw materials and overall rise in demand. MMR and Bangalore recorded the highest 9% annual jump.

Anuj Puri, Chairman – CII Real Estate Confluence 2023 & Chairman – of ANAROCK Group, says, “Rate hikes are just part of the overall demand scenario. Recent layoffs by both large and small corporates are likely to have at least some impact on the demand in the upcoming two quarters and dent growth in the housing market. Many homebuyers impacted by layoffs may defer homebuying decisions until their employment situation stabilizes. Nevertheless, buying homes remains the top priority for everyone.”

Currently, inflation is high and the state of the global economy directly or indirectly impacts housing demand in India. However, whatever demand gets deferred will be a temporary dynamic. “There are high chances that by FY25, the current turbulence will have passed and the housing market will bounce back,” says Puri. “Deferred demand is just that – it is put on hold, not destroyed.”

The report further finds that millennials continue to drive housing demand. Of the total participants that chose real estate as an asset class for investment, at least 52% were millennials who are mainly looking to buy homes for self-use. End-users still dominate the Indian housing market, with the end-user vs investor ratio at 71:29. Of the total surveyed end-users, over 77% are millennials.

At least 36% of respondents are zeroing in on homes that will be ready for possession within a year, and 58% want to buy properties priced between INR 40 lakh to INR 1.5 Cr.

Apart from price points and basic amenities in a project, the surveyed buyers are now focused on three primary aspects – timely project completion assurance, the availability of a study room, and adequate ventilation in the property. Over 90% of the surveyed homebuyers will not compromise on timely project completion, 62% insist on well-ventilated homes, and another 55% of respondents consider a study room indispensable. It is evident that the Covid-19 pandemic has left a lasting impact on homebuyer preferences.

DMIC fueled real estate demand in Sohna, Gurugram

Gurugram: Sohna is a rapidly developing area located in the southern part of the Gurugram district in the Indian state of Haryana. It is known for its scenic beauty, proximity to the Aravalli Hills, and growing real estate market. The opening of the Delhi-Mumbai Expressway, one of the largest infrastructure projects in India, boosted real estate development in the Sohna region, with luxury independent floors emerging as a key segment. The expressway, which spans 1,300 km, will provide seamless connectivity between Delhi and Mumbai, reducing travel time between the two cities to under 12 hours. This has led to increased investor interest in the Sohna region, which is located along the expressway and is expected to benefit from improved connectivity.

An emerging growth corridor of NCR

The opening of the Delhi-Mumbai Expressway is a major event that heralds the beginning of a new era of infrastructure development and economic growth in the NCR. It has the potential to ignite trade and business activity, resulting in positive outcomes for all. The property market in Haryana’s Sohna and Gurugram benefited from this project as well, as it is anticipated that demand in these areas will rise dramatically in both the residential and commercial sectors.

Real estate developers in Sohna are already capitalizing on this opportunity, with several luxury housing projects in the pipeline. These projects focus on providing spacious and independent homes, catering to the needs of high-net-worth individuals and affluent families.

Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India), Ltd. Said, “The commencement of the eight-lane Delhi-Mumbai Expressway augurs more growth and prosperity for Sohna and New Gurugram. As the biggest project of NHAI, this modern state-of-art expressway will not only provide direct connectivity between Delhi and Mumbai but also further ease the traffic congestion flowing across the Millennium City. This project will provide a world of opportunities for the millions of people of Gurgaon and Sohna, who will gain new logistical connectivity to the entire Delhi NCR region”.

He further added, “The launch of the Delhi-Mumbai Expressway will have a cascading effect on the property prices in Sohna and New Gurugram. Consequently, the demand in both residential and commercial segments is expected to increase significantly in these regions. With Signature Global properties developed near the Delhi-Mumbai Expressway, we are confident that these appreciating property prices will be leveraged to further attract new prospective homebuyers. We anticipate that social infrastructure developments around the expressway will have a multiplicative effect in bolstering the Indian economic growth story”.

As per the sources Signature Global Park 1, Sohna is receiving good responses in the region.

The Delhi-Mumbai Expressway drove the demand for luxury independent floors in Sohna, as more and more affluent buyers look for spacious and exclusive homes that offer privacy and luxury. With improved connectivity, Sohna is emerging as a preferred destination for luxury living, with developers offering world-class amenities and unique lifestyle experiences to cater to the demands of the discerning buyer.

Jatin Lohia, Director, LID said, “Sohna spurred boom in both the residential and commercial growth. The new expressway unlocked the region’s maximum potential, causing a surge in real estate development and establishing Sohna as a multi-utility residential corridor. It provided a solid blueprint for developing townships, independent floors, and business hubs. While easing congestion and providing easy connectivity with nearby states, the region witnessed a surge in housing demand and price appreciation of existing and upcoming residential projects.”

Improved infrastructure Facilities

The Delhi-Mumbai Expressway is a 1,390-km national highway that will reduce travel time from 18 to 20 hours to approximately 12 hours between Delhi and Mumbai. The 246-kilometer route will reduce the existing five-hour journey from the capital city to Jaipur to just three hours. The Delhi-Dausa-Lalsot stretch’s construction, which cost more than Rs 12,150 crore, will hasten the economic development of the area by attracting businesses and investors and creating a large number of job possibilities. From the Gurugram Expressway and Sohna on the Dausa end, the new highway will enhance connectivity between Delhi, Jaipur, and Mumbai, reducing travel times and enhancing Gurugram’s attractiveness as a location for commercial and residential development. Additionally, it will increase demand and property prices.

The region’s proximity to office hubs and other business centers along the Golf Course Extension Road and the Southern Peripheral Road, as well as Indira Gandhi International Airport, makes it a popular working-class real estate choice. The Gurugram-Sohna Road (NH 248A) has hastened the migration of the upper middle and upper-income classes to Sohna. Along with other game-changing connectivity, infrastructure developments such as NH-48, KMP, and others will provide a significant boost to the economy and bring about a transformational shift in Sohna’s socio-economic landscape.

Gurugram realty prices to grow overall

Sohna became a center of attention because of the launch of the new expressway, the property prices rose in the entire Gurugram. Realty in the vicinity of the Sohna-Dausa stretch of the Delhi-Mumbai Expressway benefited the most and sizeable peak in housing demand which is witnessed due to the seamless infrastructural and road connectivity.

Santosh Agarwal, CFO, and Executive Director, Alpha Corp said “The Delhi-Mumbai Expressway is expected to boost the real estate sector in Gurugram. The new expressway will provide faster connectivity between Delhi, (from Gurugram Expressway & Sohna on the Dausa end) Jaipur, and Mumbai, reducing travel time and making Gurugram a more attractive location for businesses and residential development. The improved infrastructure and increased demand for residential properties are likely to attract investors looking for profitable investment opportunities. Additionally, the development of new infrastructure in the region is likely to increase property prices and drive demand for real estate.”

Overall, the real estate market in Sohna, Gurugram is witnessing exciting new trends that cater to the changing needs and preferences of homebuyers. With a focus on luxury independent floors, co-living spaces, sustainability, and spacious homes, developers are creating innovative projects that meet the diverse needs of the market.

India’s Leading Tech-Enabled Healthcare Executive Search Firm Qwazent Talent Solutions Announces Its Acquisition by Dimensions HRD Consultants

Gurgaon, April 19, 2023: Qwazent Talent Solutions Private Limited which was incubated in 2016 as India’s first Healthcare dedicated executive search firm has announced its acquisition by Dimensions HRD Consultants, a leading provider of Human Resources Development and Talent Management Solutions. The firm was led by Dr Shruti Nath and the family office of Poshika for the last 7 years. Qwazent served the talent need of the Healthcare Industry and built a strong client franchisee over this period.

Qwazent launched its innovative recruitment platform, Hyre last year which is an AI-driven platform to combine human capability transparently with data analytics to deliver the best-suited candidates for clients. Qwazent is known for its expertise and commitment to delivering exceptional results for its clients.

Qwazent has agreed to divest its controlling stake to Dimension HRD which is a leading Executive Search firm. Given the wide reach of Dimension’s clientele, it is expected that Qwazent business volume would expand rapidly, and clients would benefit from Dimension’s deep expertise in this domain.

Dimensions HRD Consultants established in 2002 is an executive search firm, committed to providing practical and scalable solutions to the HR needs of organizations across the globe. Its dedicated client teams’ account relationships, delivery capability, and processes ensure an end-to-end flow from project acquisition to a successful conclusion and beyond. It has a strong track record of over 5,000 assignments across multiple functions.

Commenting on the strategic transaction, Dr. Shruti Nath, Mentor & Director of Qwazent said, “Qwazent was founded by 4 Co-Founding Shareholders, led by our family office, Poshika. In the several years that followed it established its name in the Healthcare Search business, grew, got through Covid, streamlined processes, diversified as well as successfully pivoted to the adoption of technology with Qwazent Hyre. Now, Qwazent is all poised and set for growth. We are very pleased that Qwazent has now the opportunity to collaborate with Dimensions led by one of Qwazent’s founding shareholders Mr. Anish Handa. We believe his entrepreneurial zeal will benefit Qwazent and its team as both would benefit from being part of a much larger organisation.

Commenting on this Mr. Anish Handa said: “We are excited to welcome Qwazent Talent Solutions to the Dimensions family. Their expertise and experience in Executive Search will complement our existing offerings and enable us to provide even more value to our clients. The acquisition of Qwazent will also enable Dimensions to expand its footprint in Pharma and Healthcare industry. Qwazent Talent Solutions has a strong presence in this area and has built a reputation for excellence in talent management.”

Dunzo Partners SHIELD to Stop Threats, Build Customer Trust With Frictionless Customer Experience

Bengaluru, India – 19 April 2023: Dunzo, India’s leading hyperlocal delivery platform, today announced that it is strengthening its fraud prevention capabilities through a partnership with global risk intelligence company SHIELD. Dunzo is the first quick commerce company in India that will leverage mobile-first risk intelligence to tackle fraud and stay ahead of emerging threats. The solution will help Dunzo build trust with their users by ensuring that genuine customers get maximum benefits while enjoying a seamless customer experience.

Dunzo will leverage SHIELD’s AI-powered Device Intelligence solution to pinpoint all fraudulent activities in real time. The SHIELD ID – the global standard of device identification – will empower Dunzo to accurately determine the physical devices behind the creation of fake accounts and promo abuse. At the same time, the SHIELD Risk Indicators will expose devices running malicious apps and tools commonly associated with fraud, enabling Dunzo to take action against fraudulent accounts.

Kongkan Saikia, Associate Director of Fraud Prevention at Dunzo, commented, “SHIELD’s technology has become an important element in building Dunzo’s strategy against fraud attacks. We’re now able to instantly stop fraud attacks at the source, and better use our time on cases that truly require a human touch.”

Gautam Sehgal, Director at SHIELD, added, “Dunzo is a category-defining company whose brand name has become a verb, based on a well-earned reputation for speed and reliability. SHIELD is proud to partner Dunzo to support the scalability of its services and brand promise, making certain that its resources are channeled towards incentivizing genuine delivery partners and the growth of its authentic user base.”

SHIELD’s technology is uniquely able to stop fraud without requiring personally identifiable information, empowering Dunzo to maintain user privacy without compromising security. The Device Intelligence solution runs entirely in the background throughout Dunzo’s 24/7 service, ensuring that no unnecessary friction is added to the customer journey.

More importantly, the Dunzo team will be able to accelerate growth by ensuring that they are investing resources into genuine users as well as boosting customer satisfaction and retention. The identification of trusted devices, users, and accounts will increase order approval efficiencies and support even faster deliveries, all without the fear of fraud. This solidifies Dunzo’s position as the most trusted choice for shoppers needing quick and reliable deliveries in India.

The roots of all fraud plaguing tech platforms – including those from the delivery and quick commerce industries – can be traced back to fake accounts. For example, fraudsters have been known to create large numbers of fake accounts to exploit limited time promotions, rack up referral bonuses, and snatch up coupons, leaving genuine users at a disadvantage. Fraudulent partners could also claim incentive bonuses they did not deserve by spoofing their location and claiming job completions.

Indian Entrepreneur Shashwat Pioneers Medical Device Innovation in the US, Bringing His Knowledge Back to India

Shashwat, an Indian-born entrepreneur, is leading the way for medical device innovation in the United States. After completing his education in mechanical engineering and Biodesign innovation studies from the University of Illinois at Urbana-Champaign and Johns Hopkins, he founded PneumoNIX Medical, a startup focused on preventing complications during cancer biopsies to improve patient outcomes.

Shashwat’s inspiration for his startup came from observing a lung biopsy at Johns Hopkins Hospital where the patient suffered from a collapsed lung, leading to a prolonged hospital stay and invasive procedures. Recognizing that this was a frequent issue globally during the more than one million biopsy procedures performed annually, he realized the need for a solution to improve cancer biopsies and address this unmet clinical need.

Developing a sealant for lung biopsies was a challenging task due to the unique properties of lung tissue, including its elasticity, dynamic nature, and constant movement during respiration. Shashwat experimented with various formulations to achieve a balance between adhesion and biocompatibility while ensuring degradation over time. Finding the right balance between strength and flexibility was another significant challenge. Despite these obstacles, the PneumoNIX sealant was developed with excellent mucoadhesive, hemostasis, and biodegradation properties, showcasing Shashwat’s perseverance and scientific expertise. Its potential to enhance patient outcomes in lung biopsies and other medical procedures makes it a significant scientific breakthrough in medical device innovation, and the work was selected for a $1 million grant by the National Science Foundation in the US.

Shashwat’s ideologies about his startup are centered around patient care. He believes that for technology to be successful in the medical device industry, it has to significantly improve patient outcomes, which he uses as his North Star when making decisions.

After the commercialization of PneumoNIX Medical’s sealant, Shashwat plans to bring his knowledge back to India and contribute to the growth of medical device innovation in his home country. “I am proud to have been able to make an impact in the United States, and I am excited to bring back what I have learned to help the medical industry in India,” said Shashwat.

Shashwat is an Indian entrepreneur who is making strides in the US and is passionate about contributing to medical device innovation globally, as well as bringing his knowledge back to India.

‘Pyar, Umeed aur Roshni’: Experience the magic of LIVE poetry as Paytm Insider brings to you Ashish Bagrecha’s India Tour

India-wide release, 19th April 2023: There are many ways to express emotion but poetry claims a special place. With every turn of phrase, poetry strikes a chord deep within us or stirs our souls into action. So, are you ready to go on a journey of hope and healing through poetry and music? Then, there’s good news for you! Paytm Insider, India’s leading entertainment platform along with YOSN Innovation brings to you the bestselling author and popular IG poet, Ashish Bagrecha’s first-ever poetry is special – ‘Pyar, Umeed aur Roshni’ India Tour to your city.

This multi-city tour which kick-started with its first show in Gurgaon and Chandigarh this April, will make its way to Lucknow, Delhi, Jaipur, Pune, Bengaluru, Mumbai, Ahmedabad, Kolkata and Hyderabad. So, calling out all poetry lovers! Now is your chance to be transported into the world of love, hope and magic in Ashish Bagrecha’s soulful voice and soothing music where he will be sharing his life and love lessons. The event will offer a unique experience for which the tickets are available on Paytm and Paytm Insider. The attendees will have the opportunity to choose from various ticketing categories starting at just Rs. 399 onwards.

Ashish always addresses mental and emotional health and talks about relationships and self-love in his writings. ‘Pyar, Umeed aur Roshni’ is all about the feeling of first love; from loving deeply to getting heartbroken. It’s about falling into the darkness but still chasing the light; from loving everyone else to letting love find you, trusting the universe, believing in the magic you carry within yourself and finally loving yourself. Through his live performance, Ashish will spread love, give hope and heal you by reciting his popular and exclusive poems in Hindi and English.

Varun Khare, Business Head, Paytm Insider, said, ‘’We at Paytm Insider are thrilled to be touring with Ashish Bagrecha as he performs his unique and powerful poetry- live for fans across the country. After a successful start to his tour earlier this year, the tour now moves on to its second phase where we hope to run sold out houses across each of the 12 shows. The connect that he has as an artist to his fans through his beautiful storytelling makes it feel like you’re having an intimate conversation with your friend and that’s the power of his presence and artistry. We hope to grow this unique genre further and offer more of such curated experiences to our consumers.”

A poet at heart, Ashish is also an author, podcaster, entrepreneur, performer and speaker. He began writing shayaris and songs when he was a teenager. Later, he started writing letters and poems and in 2013, released his first book ‘Loved, Lost and Lived’. His first poetry book ‘Love, Hope and Magic’ was published under his own publishing house and gained immense popularity. In 2018, the Surat-based author was battling with mental health issues and to constructively let his feelings out, while also helping others in the process, led to him writing his experiences and solutions in his book ‘Dear Stranger, I Know How You Feel’ – which is a collection of 30 letters and poems. This book was even ranked among the top 10 books by Indian authors on Amazon and has sold lakh of copies.

Last time, Ashish Bagrecha’s India Tour, curated by YOSN Innovation and Paytm Insider which took place in February 2023, and covered cities like Mumbai, Pune, Bangalore, Kolkata, Delhi, Surat, and Ahmedabad sold around 3800 tickets across 7 cities, making the tour a huge success.

So, hurry up and book your tickets as this show shouldn’t be missed. Join him on this magical evening in your city as Ashish weaves together poetry and music in a way that is sure to leave you feeling inspired and moved. Besides, you’ll also get a chance to know more about him, interact with him and learn some valuable life and love lessons.

Tour Schedule

Lucknow – April 14 at Phoenix Palacio

Delhi – April 15 at Aiwan-e-Ghalib Auditorium

Jaipur- April 16 at GD Badaya Memorial Auditorium

Pune – April 21 at Phoenix Market city – Viman Nagar

Bangalore – April 22 at Chowdiah Memorial Hall

Mumbai – April 23 at The Royal Opera House

Ahmedabad – April 28 at Palladium Mall

Kolkata – April 30 at GD Birla Sabhaghar

Hyderabad – May 13 (Venue to be announced)

Latest F5 research reveals 74 percent of Indian consumers are willing to sacrifice data security for convenience

BENGALURU, APRIL 19, 2023 – F5’s (NASDAQ: FFIV) latest report Curve of Convenience 2023 Report: The Pursuit of APIs has revealed that 74 percent of Indian consumers are willing to grant companies access to their data in exchange for better utility and customer experience, with 93 percent willing to save sensitive data onto websites and applications for a more streamlined process.

In recent years, it has become standard practice for users to log in to websites and services using third-party authentication, such as through a user’s existing Google or Facebook accounts. These trends reflect a collective desire for convenience, speed, and personalisation at every stage of a consumer’s digital experience. These features are often enabled by Application Programming Interfaces or APIs, which help improve efficiency and are applicable to almost all businesses processing digital transactions. Like any web application however, these APIs can be exploited and abused unless properly protected, resulting in security breaches and fraud, putting entire digital ecosystems at risk.

“Today’s consumers are more inclined towards convenience over security, giving businesses a tough time maintaining the balance between the two while ensuring the utmost security for customers’ sensitive data,” said Dhananjay Ganjoo, Managing Director, India and SAARC, F5. “This can be overcome with the help of a suitable checklist and security solutions that enable continual discovery and protection of APIs. Cloud-focused solutions such as F5 Distributed Cloud WAAP implement a comprehensive API security model that enhances risk management and fosters digital innovation.

“Although APAC consumers are willing to share their data, it is important for organisations that deliver digital services to be reminded that they must also be proactive in seeking out trustworthy security providers to secure their data,” said Jessie Tung, Growth Strategist & Co-founder, twimbit. “Thus, it is important for them to deliver holistic data security measures to gain the trust of both the service provider and end user.”

With a growing reliance on digital services and consistent headlines about data breaches, APAC consumers are also increasingly concerned about data security. The Curve of Convenience 2023 report also revealed that over 67 percent of Indian consumers are ready to withdraw support from a company in the event of a data breach despite offerings like leading services and products, with 58 percent interested in knowing the sensitive data compromised during a data leak. These findings signify the importance of data security in the minds of Asia – Pacific consumers and businesses, many of which do not prioritise it at risk of losing their competitive edge.

Report Highlights

• 52% of Indian consumers are likely to continue with a brand in the event of a data leak. Within this group, 38% may leave for another brand permanently after the data leak.
• A strong brand image is critical to gain trust amongst most consumers. 68% of Indian consumers trust companies with strong brand images.
• Digital payments the way forward. 58% of Indian consumers prefer digital payments, and this number is likely to continue to rise.
• APAC consumers have a strong reliance on digital services. This reliance can be witnessed in digital payment services, with 8 out of 10 surveyed APAC consumers having transacted online within the last 12 months. The survey results also showed that 69% of consumers in APAC have used more than 1 digital payment method over the last 12 months.

Footnote

A follow-up to the 2020 survey, this year’s study was conducted in Q4 2022, with over 2,300 respondents from 8 APAC regions: Australia & New Zealand, China, India, Indonesia, South Korea, Japan, Singapore, and Taiwan.

Additional Resources

• Download the full F5 Curve of Convenience 2023 Report: The Pursuit of APIs