Category Archives: News

Asha School Transforms Lives: Religare Enterprises and AWWA Collaborates to Modernise Asha School in New Delhi

New Delhi, 3rd November 2023- Religare Enterprises Limited (REL) and AWWA, today announced their long-standing commitment towards the welfare of specially-abled children through modernisation and holistic development of Asha Schools in New Delhi and elsewhere. 32 Asha Schools are run by AWWA across the country to nurture the potential of specially-abled children. Asha Schools are nurturing about 1200 children across various cities in India which includes 500 wards of serving personnel and veterans of the armed forces and 500 children from civil backgrounds. Furthermore, Religare announced that the company will support an additional 5 schools in Agra, Hissar, Mathura, Jalandhar, and Guwahati.

Through a significant collaboration initiated between REL and AWWA in December 2022 and April 2023, a Memorandum of Understanding (MOU) was signed for the upgradation and modernization of Asha Schools by REL in New Delhi, Pune, Bengaluru, Lucknow, Secunderabad and Udhampur. Significant infrastructural enhancement has been undertaken by REL in less than a year for Asha School, Delhi for giving it a facelift. Considerable on-ground progress has been achieved in upgrading the schools in other cities as well.

This announcement comes after the successful completion of the first phase of the collaboration that witnessed the modernization of Asha School, Delhi. Replicating the module-based approach implemented at Delhi, REL offers holistic support through various interventions, including the development of the curriculum, infrastructure, and the faculty’s capabilities in other schools as well. Religare also intends to support these schools with the medical and nutritional requirements of the students in addition to provisioning transportation facilities, vocational guidance, and placement and internship assistance.

With the objective of making students financially independent, Religare plans for their gradual introduction to corporations by organizing internship and training opportunities. After their training, Religare will also offer employment within Religare Group companies spread over 100 locations in India.

Speaking about the initiative, Mrs Archana Pande, President AWWA said, “We are delighted to announce our long-term collaboration for six Asha Schools to begin with, which we are hopeful to expand to other Asha Schools as well. The progress made in this short period is a testament to the noble intentions of both partners. Asha Schools have been a beacon of hope and a sanctuary of learning for specially-abled children. Our commitment is to provide them with the best-in-class facilities and opportunities, enabling them to realize their potential and make their mark in society.” She highlighted the achievements of Asha Schools and the endeavours of AWWA and mentioned that the welfare of specially-abled children has always been the key focus area of the organization. REL has ably supported this initiative of AWWA and this collaboration will usher in a brighter future for these children.

Speaking about the initiative, Dr Rashmi Saluja, Executive Chairperson, Religare Enterprises Limited said, “We are pleased to be able to support the development of Asha Schools. At Religare, we believe in creating a positive impact on the communities we serve, and we see this initiative as an opportunity to contribute to the Asha schools’ endeavour to empower specially-abled children. The schools mentor and nurture children admirably, allowing them to reach their full potential. By supporting the education and well-being of these children, we hope to create a better future for them and our society. We aim to partner with all Asha Schools by next year.”

“Through our association, we are also setting an example for our peers in the industry, who can contribute towards building an inclusive society for the children.”

The collaboration that began in December 2022 with Asha School Delhi, has been extended to further cover schools in Pune, Bengaluru, Lucknow, Secunderabad, and Udhampur. There are plans to expand this partnership to other schools as well.

Dreaming of a Big Home… Financial Moves to Make It Happen

– by Akash Pharande, Managing Director – Pharande Spaces

As we know, the COVID-19 pandemic triggered a remarkable shift among India’s middle class when it comes to home purchase behaviour. Typically conservative middle class Indians who earlier preferred compact and functional homes started splurging on relatively bigger properties, defying conventional wisdom.

While WFH and online schooling initially drove demand for bigger homes, this trend continued even after the pandemic subsided. There has been a deeper attitudinal shift unrelated to pandemic requirements.

Why bigger homes rule the market

– Lifestyle changes: The pandemic fundamentally altered buyer attitudes and living habits. After discovering the benefits of space and community living during lockdowns, the Indian middle class now sees large homes with amenities as the ideal, irrespective of WFH and online schooling needs fading.

– Demographic shifts: Rising nuclearization, urbanization and higher disposable incomes among middle class Indians also drive demand for bigger homes. Dual-income households want more room – for parents, future family growth and overall comfort.

– Future-proofing: Buyers want homes future-proofed against disruptions like health emergencies. Extra space provides a buffer and flexibility.

– Financial security: In India, real estate is seen as a wealth creator. Big homes equal better financial security and social stature. Unlike smaller starter homes which will later be sold to upgrade to better properties, big homes also represent permanence.

– Competitive pricing: Many leading developers offer large 3 BHKs within budget via competitive pricing and finance schemes, making bigger homes attractive investments.

– Suburbanization: The middle class continues migrating to metros’ peripheries and Tier 2/3 cities where property is cheaper, enabling purchase of bigger homes within budget.

Gradual but marked post-pandemic price appreciation has also encouraged buyers to invest in bigger homes before unaffordability sets in.

Counting the cost

But very few middle-class Indian families can afford to buy a bigger home right off the bat. Housing remains the most expensive acquisition most Indians will ever make, and bigger homes cost more.

Typically, in housing projects in a metro city, every additional bedroom costs between 15-25% more than the base 2BHK rate. For example, if a 2 BHK measures 1,000 sq.ft and costs Rs 8,000 per sq.ft, its price is Rs 80 lakhs. A 3BHK of 1,200 sq.ft (with 1 extra bedroom) at Rs 8,000 per sq.ft will cost Rs 96 lakhs, or 20% more.

Those additional bedrooms are definitely worth it. Apart from the sheer convenience and positive social connotations of a larger flat, the extra rooms allow for better utilization per square foot and in terms of rental ROI, 3 BHKs earn anywhere between 30-40% more rent than 2BHKs.

For most middle-class Indians, achieving the cherished dream of a spacious new flat calls for a lot of honest introspection, future gazing, and financial planning.

India’s middle-income groups typically face multiple financial burdens like education expenses for children, medical emergencies, financially supporting aged parents, etc. Along with these recurring expenses, the high monthly outgo towards home EMIs can overwhelm monthly budgets.

While the dream of owning that 3/4 BHK looms large on the family’s horizon, there are some immutable rules of financial planning that must not be broken. The most important one is that the expense of a home purchase should not exceed 35-40% of the total monthly household income. Breaching this limit can leave buyers cash-strapped to handle other critical spending.

Financial steps towards the 3 BHK

Track expenses and build savings: Maintain a record of monthly expenditures across categories – food, travel, shopping, utility bills, etc. This helps identify wasteful spending that can be reduced. Target to save at least 20% of your monthly income for the down payment on your home, and ensure that you always have an emergency corpus to handle contingencies.

Reduce existing debts: Try to close or prepay any outstanding loans for cars, gadgets, or vacations. This lowers your obligations and improves eligibility for the home loan.

Pay off expensive credit card bills: Credit card rollovers and revolving debts attract exorbitant interest rates of over 40% p.a. Clear off high-cost card dues with savings to free up repayment capacity.

Build a good credit score: Lenders check credit scores to assess loan eligibility and determine interest rates. Scores above 750 help secure cheaper home loans.

Avoid new purchases on EMIs: Adding more EMI commitments when home purchase is on the anvil increases the repayment burden significantly. Defer any major purchases that require loans.

Extend home loan tenure: Opting for a longer tenure of 25-30 years instead of the normal 20 years reduces the EMI outgo. This makes the home purchase more affordable.

Leverage co-applicant income: Consider including the spouse as a co-applicant for jointly availing a larger home loan amount and increasing repayment capability.

Claim tax benefits: First-time home buyers can avail deductions up to Rs 3.5 lakhs a year on principal and home loan interest under Sections 24 and 80C to reduce tax liability.

With some discipline and smart financial moves, middle-income home buyers can realize their aspirations of owning a large home while maintaining a healthy financial profile. Seeking professional guidance from financial planners also helps chalk out the best route to home ownership.

Obviously, owners of an existing home have an advantage as this property, if it is marketable, may be sold to reduce the overall financial burden. The above financial planning steps primarily address the perspective of first-time home buyers focused on acquiring a big apartment.

However, they also apply to existing homeowners whose property is modestly sized (and therefore in less demand) and/or in a very old project with very few of the modern trappings of more contemporary housing projects.

In a market where bigger, modern homes rule the demand wave, selling smaller, older properties may only help marginally in offsetting the cost of a spacious new apartment. Financial savviness and discipline can go a long way in narrowing the gap to make the dream of a spacious new home more attainable.

About the Author:

Akash Pharande is Managing Director – Pharande Spaces, a leading real estate construction and development firm famous for its township projects in West Pune and beyond. Pharande Promoters & Builders, the flagship company of Pharande Spaces and an ISO 9001-2000 certified company, is a pioneer of townships in West Pune.

HCAH Joins Hands with Bangalore Police Department to Raise Stroke Awareness

Bangalore, November 03, 2023: HCAH, India’s leading out-of-hospital care provider, took a significant step in enhancing community health and well-being by collaborating with the Bangalore Police Department to host a comprehensive Stroke Awareness camp. The event took place this week, at Car Police Hospital, Mysore Road, Chamrajpet, Bangalore, attracting a substantial turnout of more than 100 attendees who availed themselves of free medical and physiotherapy sessions.

The camp’s inaugural ceremony was graced by the esteemed presence of Assistant Commissioner of Police (ACP) Mr. Girish B.R, representing the Bangalore Police Department. ACP Girish’s participation underscored the police department’s unwavering commitment to the welfare of its officers and the broader community.

A notable feature of the camp was a comprehensive Stroke Awareness session conducted by Dr. Pradeep R., a distinguished Consultant Neurologist and Epileptologist from Ramaiah Medical College and Hospitals, Bengaluru. Dr. Pradeep shed light on the importance of recognizing the signs and symptoms of a stroke and delved into the crucial aspects of post-stroke recovery. He emphasized the pivotal role of in-patient post-stroke rehabilitation, facilitating early and effective recovery for stroke survivors. Dr. Pradeep’s closing words, “Together we can be greater than Stroke,” resonated with this year’s awareness campaign theme.

Karthik, City Head for HCAH SuVitas, Bangalore, underscored the growing importance of well-designed post-stroke rehabilitation programs, given the increasing number of stroke cases. He expressed heartfelt gratitude to the Bangalore Police Department for allowing serving and raising awareness about stroke prevention and recovery within the community.

By joining forces with the Bangalore Police Department, HCAH demonstrated its unwavering commitment to community well-being and highlighted the significance of collaborative efforts in the fight against stroke.