Know how Delhi-NCR’s Realty Market is Moving on an Upward Growth Trajectory

Delhi-NCR’s realty market has shown steady growth in the second quarter of 2024, with a 30% increase in average housing prices, according to a report by CREDAI- Colliers and Liases Foras. Driven by homebuyers’ positive sentiments and recent trends, the market is moving on an upward growth trajectory. With an increase in price from Rs. 8,652 per sq. ft to Rs. 11,279 sq. ft., Delhi-NCR’s growth graph looks promising.

Navigated by buyers’ evolving lifestyle needs and demand for more spacious homes, the sector has increased demand for bigger homes in the luxury and ultra-luxury segments, with the average price for 3-4 BHK configurations growing by 12% QoQ. This growth impacts the various micro-markets within the region, such as Dwarka Expressway and Greater Noida, which have shown price appreciation at 35% and 45%, respectively.

Another report by Cushman and Wakefield showed that Gurugram is leading this quarterly supply surge, accounting for 69%, with areas such as Sector 37 D and Sector 77 near the Dwarka Expressway driving the lead. Other micro-markets, like the Golf Course Extension Road and Southern Peripheral Road, accounted for 53% of the market share, with new launches focused on the high-end and luxury segment. Besides, the submarkets of Noida, with a great focus on Noida Sector 150, Greater Noida West, and Siddharth Vihar, had 45% of quarterly supply.

Moreover, capital values are expected to appreciate in the coming quarters, with anticipated launches in these premium sub-markets of both Gurugram and Noida. A similar trend was also observed in the rental market during the second quarter. A marginal growth of 1-2% on a q-o-q basis and an annual growth of 4-5 % was observed, with Gurugram and Noida as the front runners with a yearly increase of 12-24%.

Backed by the healthy demand and the presence of renowned developers, Delhi-NCR is likely to sustain a decent residential supply ahead of time as well. Prateek Group is one of the notable developers based out of Noida and they have been crafting the finest projects. Projects like Prateek Canary in Noida Sector 150 and Prateek Grand City in Siddharth Vihar are catering to the growing demand. Prateek Grand City is the only developed township in the Ghaziabad region and is likely to see new developments very soon.

Various factors are contributing to the sustained growth momentum of the residential market in Delhi-NCR. Gurugram and Noida, along with their micro-markets, are likely to be front runners in the growth graph of the residential segment across metros. Infrastructure developments, strong economic growth, and a rising demand for a premium lifestyle among buyers bode well for the sector’s growth momentum.

Lic of India Hands Over Dividend Cheque to Goi

Shri Siddhartha Mohanty, CEO & MD, LIC of India, today presented the Dividend cheque of Rs.3662.17 Crores to Honourable Smt. Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs, as the Government of India’s share of Dividend, approved by the Shareholders in the Annual General Meeting held on 22.08.2024.

Dr. M P Tangirala, Additional Secretary, GOI, Ministry of Finance, Dept of Financial Services was present along with Officials from Life Insurance Corporation of India, Shri M Jagannath ,MD, Shri Tablesh Pandey, MD, Shri Sat Pal Bhanoo, MD, Shri R Doraiswamy, MD and Shri J.P.S.Bajaj ,ZM(I/C),Northern Zone.

LIC also paid Interim Dividend of Rs. 2441.45 Crores on 1st March 2024, thus totaling to Rs. 6103.62 Crores paid as dividend to Government of India for the year 2023-24.

LIC is completing 68 glorious years since its incorporation and as at 31.03.2024 has an asset base of over Rs.52.85 Lakh Crores. It continues to be the market leader in the Indian Life Insurance market.

JRS Eastman Group Partners with Municipal Corporation Ludhiana to Launch Rupees1 Crore Miyawaki Forest Initiative

National, August 30th, 2024: Mr. Jagdish Rai Singal, Founder and Chairman of Eastman Group, has embarked on an ambitious project to transform a landfill site into a Miyawaki forest, inspired by the Prime Minister’s “Mann Ki Baat” episode broadcast in July 2024. Situated in the Focal Point Industrial Area of Ludhiana, the initiative targets the rejuvenation of 2 acres of land with a total investment of INR 1 crore, executed in two phases. For this green initiative, Mr. Singal has partnered with the Municipal Corporation of Ludhiana to repurpose wasteland in urban areas.

The selected site, covering more than 5500 square yards, was previously a landfill. Recognizing the urgency of land restoration, Mr. Singal has allocated INR 30 lakhs to the initial phase, which involves extensive cleaning to enhance soil fertility. This groundwork is crucial for preparing the land for the subsequent stages of the project, which include land clearing, tree planting, and ensuring long-term sustainability and maintenance.

Lauding the efforts Sandeep Rishi, Municipal Corporation Commissioner, Ludhiana said “The initiative taken by Mr. Jagdish Rai Singal on this transformative Miyawaki forest project is commendable. This project is a testament to the power of public-private partnerships in advancing Ludhiana city’s environmental goals toward a cleaner and green future. By converting a former landfill into a vibrant green Miyawaki Forest, on the one hand, we are addressing the aggravated problem of pollution, however, on the other hand, we are setting a new standard for urban sustainability and environment conservation. We applaud Mr. Singal for this vision and commitment to making the industrial land of Ludhiana a healthier place”.

Speaking about the initiative Mr. Jagdish Rai Singal, Said “ Environmental sustainability is the need of the hour, and through this project, we aim to transform barren land into a thriving green space that benefits the community and restores ecological balance. Aligning ourselves with the Hon’ble Prime Minister’s Vision, we plan to collaborate with municipal corporations across Punjab to replicate such initiatives in various urban areas. We hope this serves as an inspiration for more industry players to contribute to urban sustainability, making our country healthier and more vibrant for future generations”

The Miyawaki forest is renowned for its fast-growing, dense urban forests which will be established through diligent planning and execution. This initiative not only aims to combat urban pollution but also seeks to provide a greener and healthier place for the community and generations to come.

Acknowledging the efforts, Mr. Lokesh Jain, Chairman, CII, commented, “Our initiative ‘Lungs of Ludhiana’, embodies the spirit of industry-administration collaboration for a greener future of the city. We laud the efforts of Eastman Group for the collaboration with Municipal corporation to undertake the task of restoration of the wasteland in the Industrial area. I am certain that this initiative will encourage other industry players to replicate these efforts Pan India to help create a greener, cleaner environment for current and future generations. The ambition to plant 1 million trees, aims to transform Ludhiana into the greenest city in Asia. This collective effort is crucial for improving air quality and enhancing the overall environmental health”

Mr. Singal’s dedication to this cause highlights a significant step toward addressing current environmental challenges and encouragement to revive ecological balance in urban settings. The project is expected to create a lasting impact that is likely to contribute to cleaner air, improved soil health, and an enhanced quality of life for residents of Ludhiana, especially across the industrial area.

This initiative aligns with the Indian government’s broader environmental goals and serves as a model for future urban green projects. It emphasizes the importance of the Eastman Group’s commitment to environmental stewardship and sets a precedent for similar efforts across the nation

Eakadanat: A Cultural Convergence Through Art

Bengaluru, India, 29 August 2024– Lavanya International Art Foundation is thrilled to announce the upcoming art exhibition, Eakadanat, to commemorate Ganesh Chaturthi. This extraordinary event will take place at the Indian Institute of World Culture (IIWC) in Basavanagudu, Bengaluru, from August 31st to September 4th, 2024 between 10. 30 am to 7 pm.

Founded by the passionate artists Asima Choudhry and Piyali Sarkar, Lavanya International Art Foundation is dedicated to celebrating and promoting India’s diverse artistic heritage. Eakadanat is more than just an art show; it’s a cultural convergence that beautifully blends tradition and modernity. The exhibition will be inaugurated by renowned figures Dr. TS Sathyavathi, President of IIWC, and Kishore Joseph, Founder of Colorthon and Breathe Entertainment.

 Featuring the works of over 50 talented artists from across India, Eakadanat showcases a breathtaking array of styles and techniques. From intricate pencil shading to vibrant oil colors and stunning metalworks, the exhibition offers a captivating journey through the evolution of Indian art.

Asima Choudhry, Co-Founder of Lavanya International Art Foundation, emphasized the exhibition’s significance as a platform for both established and emerging artists to showcase their work. “We aim to create a dialogue between tradition and innovation, highlighting how these elements coexist and enrich each other in the world of art,” she said.

 Piyali Sarkar, Co-Founder, added, “The exhibition also serves as a platform for fostering connections among artists, art lovers, and cultural enthusiasts, encouraging the exchange of ideas and the celebration of artistic excellence.”

 Eakadanat is a must-visit event for art enthusiasts and cultural connoisseurs. All are welcome to attend this free exhibition.

KIIT World School Students Shine in Haryana Games, Win Multiple Awards

Gurugram: Students of KIIT World School have made the school proud by winning various awards in the prestigious Haryana Games. The students showcased their exceptional talent and dedication to sports at the block-level competitions.

KIIT World School students demonstrated their athletic prowess by winning positions in the 800m race, throwball, volleyball, and yoga events. Additionally, Deepak from grade 12 and Saurabh from grade 10 have been selected to advance to the district-level volleyball competition. Saksham from grade 9 and Umang from grade 10 represented the school at the district-level cricket tournament, showcasing their skills and sportsmanship on a larger stage.

The under-19 girls’ volleyball team secured first place at the block level, while the under-14 girls’ throwball team achieved second place. The 800m race saw a first-place win, and the under-19 boys’ volleyball team earned third place at the block level. Commenting on these achievements, Principal Neelima Kamrah said, “Our students have achieved these accolades through hard work and perseverance. We congratulate them on their success and wish them a bright future. We are confident that they will also continue to excel in the future.”

KIIT World School congratulates all the winners on their remarkable performances and appreciates their dedication to sports. We look forward to seeing our students continue to make us proud with their athletic talents in future events.

Federal Bank first Indian Bank to launch India’s Pioneering Facial Payment System SmilePay

Chennai, August 30, 2024: Federal Bank, India’s leading private sector Bank, is proud to announce the launch of SmilePayTM, this groundbreaking technology will allow customers to complete transactions using only their face. This revolutionary product, unveiled as we enter India’s 78th year post Independence, marks a significant milestone in the country’s journey towards financial freedom and convenience. The launch of SmilePayTM happened at the Global Fintech Fest by Ms Shalini Warrier, Executive Director, Federal Bank.

 Introducing SmilePay™: Pioneering a New Era of Facial Athentication Payments
Two of India’s largest corporate houses, Reliance Retail and Ananya Birla helmed Svatantra Micro Housing (SMHFC), are among the first to pilot this innovative technology with their customers at select outlets / branches.

 SmilePay™ is the first-of-its-kind payment solution in India, utilizing advanced facial authentication technology built on the UIDAI’s Bhim Aadhaar Pay. This revolutionary product eliminates the need for traditional payment methods, offering unmatched convenience for customers and enhanced efficiency for merchants.

 “SmilePayTM is not just a product; it’s a step towards a more connected and efficient financial ecosystem,” said Shalini Warrier, Executive Director at Federal Bank. “We’re excited to see how this technology will transform the banking experience for our customers.”

 “The concept of moving from cash to cards to QR codes to wearables, and now just a smile to pay, is an exciting Customer Experience in the making.” added Indraneel Pandit, CDO, Federal Bank

  Speaking on the introduction of the payment system at select Reliance Retail outlets, V Subramaniam, Director, Reliance Retail said, “At Reliance Retail, we are committed to integrating cutting-edge technology that enhances the customer experience. SmilePay™ aligns perfectly with our vision of offering seamless, secure, and innovative solutions to our customers by making the customer journey more intuitive and convenient.”

 “Aligned with Ms. Ananya Birla’s vision, Svatantra Micro Housing (SMHFC) helps create intergenerational equity, by facilitating home-asset acquisition. With a focus on customer-centricity, SMHFC is devoted to providing affordable, convenient, secure, and seamless solutions for our customers. We are happy to partner with Federal Bank and confident that the solutions provided by SmilePayTM represent a truly innovative step in this direction.” Said Mr. Vineet Chattree, Director, SMHFC

Key Features and Benefits of SmilePay™:
Unmatched Convenience: Customers can complete transactions without the need to carry cash, cards, or mobile devices.
Enhanced Merchant Efficiency: Facilitates effective crowd management and seamless transaction processing at counters.
Robust Security: Powered by the secure UIDAI face authentication service, ensuring safe and reliable transactions.
User-Friendly: A simple, intuitive interface requiring only a facial scan to complete a purchase.

build3 secures INR 3 Cr grant from the Indian government to help build impact startups

Goa, 30th August, 2024: build3, the go-to ecosystem to build impact startups (startups which are for profit AND purpose), has announced today that it has been selected as an incubator under the Startup India Seed Fund Scheme at the 56th Expert Advisory Committee meeting. The firm has also received approval from the Experts Advisory Committee (EAC), with a total commitment of INR 3 Crore grant from the Government of India. This development marks a significant milestone for build3 as it embarks on further strengthening the early-stage impact startup ecosystem in the country, supporting founders who build towards the United Nations’ Sustainable Development Goals (SDGs).

Introduced by the Ministry of Commerce and Industry, the Startup India Seed Fund Scheme has been designed to provide financial support to startups for proof of concept, prototype development, product trials, market entry, and commercialization. The evaluation process for selecting build3 as an incubator under the scheme included several parameters, including the quality of the team, prior track record, capital investments, investments from external sources, infrastructure, performance of incubated startups and others. As a government-recognised incubator, build3 is eligible to disburse funds to impact founders to help them develop their product and enter the market.

Mr. Varun Chawla, Co-Founder of build3, expressed his excitement , saying, “The support of the government is a testament to build3’s vision of supporting founders that build startups that make the world a better place. The benefits of capitalism lie in its thrust on innovation and creativity; the incentive to create new products that channel human ingenuity and passion. build3 aims to act as a canvas where capitalism and wholeness intersect to create products that truly benefit humanity. We are glad to partner with the government to help achieve this vision.”

Selection as an incubator under the Startup India Seed Fund Scheme comes only days after build3 was awarded the 2024 Flourish Prize from the Weatherhead School of Management at Case Western Reserve University as an agent of change. As a recognised incubator, the Goa-based firm will now look forward to its third cohort of the Impact Accelerator to help build the next wave of impact startups. As per the regulations of the scheme, build3 will shortlist eligible startups considering scheme guidelines that have been operationalised from April 1, 2021.

A certified B Corp organisation, build3 helps build startups through its offering of capability, community and capital. It also extends additional help by raising additional funds from external sources for selected startups. Along with Varun Chawla, Girish Sampath and Anjali Nair have been instrumental in securing the Startup India Seed Fund grant for build3. The firm aims to help 100,000 impact founders build startups that benefit the mind, body, and earth (building towards UN SDGs).

After PV Sindhu, MasterChef Pankaj Bhadouria Joins Greenday’s ‘Better Nutrition’ as Investor and Culinary Advisor

Mumbai, India – August 30, 2024: Ahead of National Nutrition Week, Greenday is thrilled to announce that MasterChef Pankaj Bhadouria has joined the ‘Better Nutrition’ brand as both an investor and culinary advisor, further strengthening the company’s commitment to revolutionizing nutrition in India. This exciting development comes on the heels of PV Sindhu’s recent endorsement and investment in the brand.

Pankaj Bhadouria, a renowned culinary expert and India’s 1st MasterChef, brings her vast experience and passion for healthy cooking to Greenday. As the new product development lead, Pankaj will be instrumental in creating innovative biofortified food products that cater to the health-conscious consumer.

Pankaj Bhadouria’s endorsement and investment with Greenday crystallized after she experienced the company’s product firsthand. Realizing that this venture aligned perfectly with her passion for mindfully blending nourishment with flavour, Pankaj felt a profound connection. This sense of shared roots brought her directly to the fields and farmers, inspiring her to become a part of the ‘Better Nutrition’ brand.

Pankaj Bhadouria stated, “I am excited to partner with Greenday and its brand ‘Better Nutrition’. This collaboration aligns perfectly with my passion for promoting healthy eating habits. Together, we aim to develop products that not only enhance nutrition but also delight the palate.”

Greenday’s mission to combat micronutrient deficiencies through biofortification is further bolstered by this partnership. The company’s robust supply chain, featuring 80 plus agri-input stores and strong farmer connections, ensures a steady supply of high-quality biofortified crops. The omnichannel vision of Greenday integrates both online and offline platforms to provide a seamless consumer experience, making biofortified products more accessible to a broader audience.

Prateek Rastogi, Founder and CEO of Greenday, expressed his enthusiasm, “Having MasterChef Pankaj Bhadouria on board is a significant milestone for Greenday. Her culinary expertise and commitment to healthy living will be invaluable as we continue to develop and promote our range of biofortified products. Alongside PV Sindhu, Pankaj’s involvement will help us reach new heights in our mission to enhance the nutritional quality of food in India.”

PV Sindhu also welcomed Pankaj, saying, “It’s wonderful to see such talented and passionate individuals joining our mission. With Pankaj’s expertise in healthy cooking and my focus on sports nutrition, we are well-equipped to make a significant impact on health and nutrition in India.”

Greenday continues to lead the charge in creating a traceable supply chain for biofortified foods, addressing critical issues in the agricultural value chain, and setting a high standard in the agritech sector.

Canadian Wood hosts an engaging seminar for wood manufacturing industry in Jodhpur

30th August 2024, Jodhpur: The British Columbia (B.C.) provincial government’s crown corporation, Forestry Innovation Consulting India Pvt Ltd (FII India), popularly known as Canadian Wood, successfully conducted a seminar titled “Canadian Wood – A Sustainable Solution” at Taj Hari Mahal, Jodhpur. The event brought together manufacturer from woodworking industry and furniture buying houses members for an in-depth exploration of the benefits and applications of sustainably sourced Canadian wood species.

The seminar featured insightful presentations from Canadian Wood’s expert team, including Mr. Pranesh Chhibber, Country Director, Dr. Jimmy Thomas, Assistant Director – Technical Services; and Mr. Rambeer Singh Yadav, Assistant Director – Business Development. These experts delved into the versatility, sustainability, certification and environmental advantages of Canadian wood species, offering attendees a comprehensive understanding of the raw material’s potential in various manufacturing and woodworking contexts.

Mr. Pranesh Chhibber opened the seminar with a keynote address that emphasized the significance of sustainable wood practices and its standard certifications which reaffirms Canadian Wood’s commitment on promoting eco-friendly solutions in the wood product manufacturing industries. Dr. Jimmy Thomas followed with a detailed discussion on the technical and environmental benefits of using certified wood species, while Mr. Rambeer Singh Yadav presented case studies and showcased pictures as examples that demonstrated the adaptability of Canadian Wood species in diverse applications.

Sharing his experience, Mr. Pranesh Chhibber, Country Director of Canadian Wood shared, “Jodhpur is a key market for Canadian Wood, with the largest concentration of manufacturers residing in a single city. We’ve been actively engaging with the leading players here, and the potential is immense. The market is evolving as awareness of newer materials, including softwood, is on the rise. Jodhpur presents a tremendous opportunity for Canadian Wood. The experience of holding the seminar here has been remarkable, with an audience that is both knowledgeable and experienced. They ask the right questions, and it’s been a pleasure collaborating with such a dynamic group of professionals.”

Attendees engaged actively in the seminar, participating in interactive Q&A sessions and networking opportunities that facilitated the exchange of ideas and potential collaborations. The event underscored the importance of using certified, sustainably sourced wood, showcasing Canadian Wood as a leader in providing eco-friendly materials for the Indian woodworking Industry.

Canadian Wood promotes five major wood species in India—Douglas-fir, Western Hemlock, Western Red Cedar, Yellow Cedar, and Spruce-Pine-Fir (SPF)—all sourced from the sustainably managed forests of British Columbia, Canada. These species are recommended for a wide range of applications and are available in 17 cities across India through a robust network of over 29 stockists.

This seminar in Jodhpur is part of Canadian Wood’s ongoing efforts to advocate for sustainable wood solutions across India, building on the success of similar events held nationwide.