30, Nov 2023
Godrej Capital Nirmaan enhances its offering; partners with DBS Bank India, Visa, and Amazon to aid MSME growth
Mumbai: Over the last decade, significant strides have been made in reducing the credit gap for small businesses in India. However, securing credit is only one of the many challenges faced. It’s a long list, but growing sales amidst intense competition, efficient cash flow management, scarcity of skilled manpower, the uphill task of an ever-changing technology landscape, and grappling with legal and compliance norms due to limited resources and know-how are right up there along with timely credit at good terms.
Amidst this backdrop, the Godrej Group, with a rich history of over 125 years in Indian business, stands poised to tackle these challenges. Rooted in the ethos of ‘nation-building’ and fortified by the trust of Indian consumers in the brand Godrej, Godrej Capital is betting bigger on its Nirmaan platform by significantly expanding its collaborative network. Partnerships with industry stalwarts such as DBS Bank India, Visa, Amazon, and others underscore Godrej Capital’s commitment to providing growth opportunities for MSME owners. These collaborations are designed to empower MSMEs, offering a diverse array of value-added services and comprehensive support throughout their business journey. In a testament to its commitment, Nirmaan has expanded its collaborative model to include 13+ partners, aligning with a vision to actively contribute to the growth of MSMEs in the dynamic landscape of the Indian financial services sector.
The platform aims to foster growth revolving around three critical areas for MSMEs:
· Expansion of customer base
· Streamlining of operations
· Enhancement of employee productivity
Speaking about the partnership, Manish Shah, MD & CEO at Godrej Capital, said, “We are delighted to expand our partner ecosystem, reinforcing our commitment to help MSMEs grow, through Nirmaan. We aim to be catalysts and help MSMEs beyond lending by being a part of their business growth journey. Aligned with the Godrej Group’s nation-building ethos, we see ourselves as enablers and we firmly believe that, with the collective commitment and services provided by our partners, we can make a difference and contribute towards making India a 5 trillion-dollar economy.”
This partnership will enable DBS Bank India to offer MSMEs access to a comprehensive suite of value-added services, featuring a customized current account. Businesses registered with Nirmaan can enjoy exclusive benefits that go beyond the regular suite of offerings such as – a 1-year waiver on Minimum Average Quarterly Balance non-maintenance fees, seamless integration with Tally ERP for connected banking, highly competitive trade and FX pricing, the convenience of a Business Debit Card powered by Visa, and exclusive partner offers, providing holistic financial support for MSMEs.
Commenting on the partnership, Rajat Verma, MD and Head of Institutional Banking Group, DBS Bank India, said, “Leveraging our local market insights and deep understanding of business realities, DBS Bank India has created an innovative offering with Godrej Capital Nirmaan. We have designed an exclusive set of benefits for MSMEs on Nirmaan that will help free up cash flows through special fee waivers on the current account variant, along with a host of partner offers to enhance business agility. The partnership underlines our commitment to empowering MSMEs across India to unlock their growth aspirations.”
Visa, a global leader in digital payments, will provide comprehensive payment solutions for MSMEs through the Nirmaan platform. Its extensive network and global acceptance will also support DBS Bank India’s specially curated offerings for Nirmaan users.
Sujai Raina, Vice President and Head – Business Development, India, Visa said, “We are delighted to collaborate with Godrej Capital Nirmaan and DBS Bank India to offer comprehensive payment services to small businesses in India. MSMEs are vital to the socio-economic and inclusive growth of the country, and Visa helps them unlock opportunities and value with its solutions. We are facilitating the DBS Current Account with a Business Debit Card offering specially curated for Nirmaan users, that allows MSMEs to make payments seamlessly, thus enabling them to drive business priorities and growth imperatives”.
Amazon’s partnership with Nirmaan will help MSMEs showcase and sell their products to customers across India by listing them on Amazon.in. It will additionally help open the door to global markets, with a three-month subscription to Amazon’s e-commerce exports program called Amazon Global Selling. Nirmaan users will also be able to get free-of-cost access to website creation and omni-channel inventory management solutions from Smart Commerce by Amazon until March 2024.
Speaking on the partnership, Gaurav Bhatnagar, Head of seller Acquisition at Amazon India said, “Amazon is deeply committed to forging partnerships with MSMEs to address the ever-evolving customer landscape, with a focus on our three fundamental pillars: selection, value, and convenience. Through our collaboration with Godrej Capital Nirmaan, we aim to bring the benefits of digitization and e-commerce closer to MSMEs. They will be able to leverage Amazon to showcase and sell their products to customers across India and capitalize on export opportunities. They will also be able to digitize their day-to-day operations through omni-channel inventory management solutions. We believe that such collaborations will help MSMEs serve their customers with unparalleled dedication and grow their business excellence.”
In addition to the existing partners Onsurity, Zolvit, and MSMEx, the new partners – GeM Tech Paras, Escrowpay, GreytHR, and Serapis Knowledge Solutions – will provide MSMEs with access to a wider range of solutions to help them grow their businesses.
Focusing on overall value creation through ecosystem development and partnerships, Godrej Capital Nirmaan aims to contribute towards the entrepreneurial and socio-economic development of the MSME sector in India, ultimately contributing to the growth of the economy and nation-building. The platform goes beyond lending offerings and provides value-added services encompassing business growth opportunities, ease of business, and knowledge and network avenues.
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- By Rabindra
30, Nov 2023
Canara Bank raises Rs 5000 crore in Long Term Infrastructure Bond, Series II Bonds 2023-24
Bengaluru,30 Nov 2023: Canara Bank in its issuance of Long Term Infrastructure Bonds has raised Rs. 5,000 crores, at a coupon rate of 7.68% per annum. The issue received an overwhelming response from investors, with bids for more than Rs. 12,450 crore against a base issue size of Rs 1,000 crore and a green shoe option of Rs. 4,000 crore.
The Bank’s Long Term Infrastructure Bonds are rated as “AAA/Stable” by CARE Ratings Limited and India Ratings & Research Ltd.
30, Nov 2023
India’s Top 8 Housing Markets Continue to Exhibit Strong Growth: Sales Rise by 22%, New Supply by 17% in July-Sep 2023: PropTiger.com Report
National, 30th November 2023: India’s leading eight residential markets have demonstrated robust growth, with a 22% increase in sales and a 17% rise in new supply during the third quarter of the calendar year (July-September 2023), as per the latest data by PropTiger.com.
PropTiger.com, a leading digital real estate brokerage firm, which is owned by REA India—also the parent of Housing.com and Makaan. com—released its ‘Real Insight Residential – July-September 2023‘ report, highlighting that sales of residential units have climbed to 1,01,220 units in the third quarter from 83,220 units in the same period last year.
All cities, except Chennai, registered a growth in sales, with Mumbai Metropolitan Region (MMR) and Pune accounting for nearly half of the total volume.
The quarterly report by PropTiger.com tracks eight major housing markets, including Delhi-NCR, MMR, Chennai, Kolkata, Bengaluru, Hyderabad, Pune, and Ahmedabad.
Mr. Vikas Wadhawan, CFO of REA India and Business Head of PropTiger.com remarked, “The housing markets in the top eight cities continue to gain momentum. The strong demand is bolstered by positive consumer sentiment.”
Mr. Wadhawan noted factors like pent-up demand, increased disposable income, stable interest rates, and renewed investor demand as key drivers of the sales growth.
Sales (Q3’23 vs Q3′22):
|
Sales Quarterly |
|||||
|
City |
2023 |
2022 |
QoQ |
YoY |
|
|
Q3 2023 |
Q2 2023 |
Q3 2022 |
|||
|
Ahmedabad |
10,300 |
8,460 |
7,880 |
22% |
31% |
|
Bangalore |
12,590 |
6,780 |
7,890 |
86% |
60% |
|
Chennai |
3,870 |
3,050 |
4,420 |
27% |
-12% |
|
Delhi NCR |
7,800 |
3,230 |
5,430 |
141% |
44% |
|
Hyderabad |
14,190 |
7,690 |
10,570 |
85% |
34% |
|
Kolkata |
3,610 |
1,940 |
2,530 |
86% |
43% |
|
Mumbai |
30,300 |
30,260 |
28,800 |
0% |
5% |
|
Pune |
18,560 |
18,840 |
15,700 |
-2% |
18% |
|
India |
1,01,220 |
80,250 |
83,220 |
26% |
22% |
Source: Real Insight Residential – July-September 2023, Housing Research
*Note: Numbers rounded off to the nearest thousand.
PropTiger.com data show that Y-o-Y housing sales in Ahmedabad have risen 31 percent to 10,300 units from 7,880 units. Sales in Bengaluru have registered the maximum growth of 60 percent to 12,590 units from 7,890 units. Delhi-NCR recorded sales growth of 44 percent to 7,800 units from 5,430 units. Hyderabad has witnessed a 34 percent growth in sales to 14,190 units from 10,570 units. A 43 percent growth in sales has been seen in Kolkata to 36,10 units from 2,530 units. Sales in Mumbai have witnessed only a modest 5 percent increase to 30,300 units from 28,800 units because of a higher base. Sales in Pune have grown 18 percent to 18,560 units from 15,700 units. Chennai is the only market that registered a decline in sales with unit sales dropping by 12 percent to 3,870 units from 4,420 units.
Mr. Wadhawan added “the market is consolidating with demand centering around reputed developers, which instils new-found confidence in homebuyers, particularly for under-construction projects. This was not the case a few years ago.”
In the Q3 period, 14% of units sold were ready to move in, and 31% of sales occurred in the above Rs 1 crore price segment.
Ms. Ankita Sood, Head of Research at PropTiger.com, Housing.com, and Makaan.com, said “ Despite global challenges, property markets in India are looking up across cities. We are in the midst of a residential real estate upcycle, with the July-September quarter, seeing a surge in property sales by 22 percent and new launches registering a 17 percent Y-o-Y growth. We anticipate the festive season to further boost sales, potentially pushing annual figures to new heights.”
Ahmedabad leading the new supply:
|
New Supply Quarterly |
|||||
|
City |
2023 |
2022 |
QoQ |
YoY |
|
|
Q3 2023 |
Q2 2023 |
Q3 2022 |
|||
|
Ahmedabad |
16,670 |
21,500 |
8,190 |
–22% |
104% |
|
Bangalore |
14,360 |
8,000 |
14,610 |
80% |
-2% |
|
Chennai |
3,700 |
4,630 |
3,930 |
-20% |
-6% |
|
Delhi NCR |
6,810 |
4,240 |
6,340 |
61% |
7% |
|
Hyderabad |
20,480 |
11,960 |
27,430 |
71% |
-25% |
|
Kolkata |
3,850 |
3,500 |
2,410 |
10% |
60% |
|
Mumbai |
35,920 |
33,330 |
28,880 |
8% |
24% |
|
Pune |
21,190 |
26,610 |
13,030 |
-20% |
63% |
|
India |
1,23,080 |
1,13,770 |
1,04,820 |
8% |
17% |
Source: Real Insight Residential – July-September 2023, Housing Research
*Note: Numbers rounded off to the nearest thousand.
Regarding new supply, Ahmedabad led the way with significant growth to 16,670 units, while other cities showed mixed trends. However, the overall landscape remained positive, with a 17% increase in launches across the eight markets, amounting to 123,080 new units.
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30, Nov 2023
KVB expands footprint in Tamil Nadu and Karnataka
.Branch network improves to 831
Chennai, November 30, 2023: Karur Vysya Bank today inaugurated four new branches – Three in Tamil Nadu and, one in Karnataka. With this, the total branch network of the Bank increased to 831.
The new branches that were opened today are
i. 828th Branch at Dobbaspet, Nelamangala, Bangalore, Karnataka by Shri S.Kantappa M.A., LLB., President, Dobbaspet Industries Association
ii. 829th Branch at Pernambut, Vellore District, Tamil Nadu by Shri. Jaweed Khan B.A (C S)., Green Valley E – Techno Matric and CBSE Schools
iii. 830th Branch at Tiruvennainallur, Villupuram District, Tamil Nadu by Shri. S.Suresh, B.E., Deputy Superintendent of Police Villupuram Sub–Division
iv. 831 St Branch at Marakkanam, Villupuram District, Tamil Nadu by Shri. Y Amjathali, M.L., Deputy Director of Prosecution Cuddalore Region
30, Nov 2023
Vietnam surgeon shows new treatment techniques for Facial Palsy in Thane
Advanced treatment for Facial palsy now available at Solaris Hospital
Mumbai- Thane:– With the hope of newer treatment options for Facial Palsy in Thane Dr. Ashesh Bhumkar –Advisor AOI, Thane, Dr. Sunil Budhalani President of Association of Otolaryngologist of India (Thane Zone) Dr. Deepak Aiwale Neurologist and chairmen of Solaris Hospital, Thane, Dr. Amit Aiwale, Neurosurgeon and Director of Solaris Hospital Thane and the entire team of AOI thane chapter has conducted seminars where international guest speakers from Vietnam Dr. Ha and Dr. Huyen elaborated on the different techniques for facial palsy. This meeting was attended by more than 200 Doctors in Thane. The newer options for the treatment of Facial Palsy include facial nerve selective necrolysis, facial masseter nerve anastomosis, facial hypoglossal anastomosis, gracilis muscle graft and reconstruction. The outcome of these techniques is very successful narrated by Dr. Ha and Dr. Huyen from Vietnam.
Commenting on this Dr. Amit Aiwale, Neurosurgeon says, “Many patients have one side facial paralysis which causes deviation of angle of mouth and difficulty in closing eyes. The smile becomes unbalanced. It creates social embarrassment for many patients who avoid going to social gatherings and overall affects their social life. The causes of facial paralysis are like bell’s palsy, skull base tumors, trauma, stroke, and infection of the ears and skull base. 70% managed with medical management and steroids. But many have permanent palsy or residual defects. After 1 year of treatment, many have facial muscle atrophy and the treatment outcome is poor. Our initiative of Advanced Facial Palsy Clinic at Solaris Hospital a leading center for facial paralysis surgery in India. We are a specialty center for the correction of drooping mouths. This most commonly is caused by facial paralysis. We offer advanced treatments with the latest innovations from around the world.”
Dr. Ashesh Bhumkar who is one of the renowned international faculties all over the world in microtia patients for ear reconstruction has taken a step forward to give a proper smile to facial palsy through the Facial palsy clinic in association with Dr. Deepak Aiwale (Neurologist) and Dr. Amit Aiwale (Neurosurgeon) from Solaris Hospital in Thane. Solaris Hospital is one of the advanced hospitals in Thane for all Neurology and Neurosurgery patients. Dr. Ashesh Bhumkar has always done work to put India’s name on the World Map. This initiative of Facial Palsy Clinic at Solaris Hospital will definitely help the patient to get back their smile and such kind of advanced clinics where these specialized treatment options are possible in India are needed, said Dr. Deepak Aiwale, Chairman of Solaris Hospital, Thane.
30, Nov 2023
Blum LEGRABOX drawer system
If you are looking for a lean, sleek, and slim drawer system with an unprecedented level of performance, you do not need to look for anything other than the BLUM LEGRABOX drawer system. The box system strikes clear lines, parallel frame design, and accent lines as central design elements.
LEGRABOX is a drawer system that can make your kitchen furniture systematic by saving a lot of space in the kitchen, unlike cabinets. It is a trend in itself to have storage spaces like the LEGRABOX that are engineered in a way to mix style with utility for its consumers. It is easy to clean and maintain, thus making it an apt choice for working professionals.
LEGRABOX features customizable design elements that provide a simple open look, with various colours and stainless-steel anti-fingerprint material. The colours are universally usable and blend seamlessly into various furniture designs thanks to the matte metallic surface.
LEGRABOX Terra Black Matte is used for special furniture due to its dark elegance. The LEGRABOX stainless steel (Inox) anti-fingerprint has an elegant design and is ideal to combine with dark surfaces. Lastly, LEGRABOX Orion Grey Matte is suitable for all living spaces thanks to its delicate, elegant, and versatile design.
The LEGRABOX guarantees maximum stability when opening and closing drawers even when it is fully extended and heavily laden, thanks to high dynamic carrying capacities of 40 and 70 kg. It also lets one print their brand name on the drawer sides.
30, Nov 2023
Now plan Early Retirement and Fikar-Free Future with Tata AIA’s Fortune Guarantee Retirement Readiness Plan
India, 30th November 2023: Retirement aspirations are deeply rooted in pursuing financial independence, enabling us to preserve our cherished lifestyle well into our golden years. We yearn for the economic resilience to confront life’s unforeseen challenges without burdening our loved ones. Whether it’s globe-trotting adventures, quality moments with grandkids, or spiritual journeys, planning for retirement is a vital step toward safeguarding our dreams. Enter the Tata AIA Fortune Guarantee Retirement Ready Plan, a meticulously crafted solution from Tata AIA Life Insurance designed to empower you for the golden years with guaranteed benefits and compelling features, ensuring you can fully embrace life.
Key Features of Tata AIA Fortune Guarantee Retirement Ready:
Plan Options: Choose from three plans: My Pension, Partner Pension, and Partner Pension Plus. Each option caters to different needs, providing flexibility for individuals and couples in planning their retirement.
Guaranteed Additions: Enjoy a 6% guaranteed addition of the sum assured on vesting, boosting your retirement corpus and providing a stable foundation for your golden years.
Vesting Addition: Receive a lump sum Vesting Addition at the end of the policy term, further enhancing the overall benefits of the plan.
Premium Payment Flexibility: Tailor the plan to your financial preferences by selecting from Single, Limited, or Regular premium payment terms. This flexibility ensures that the plan aligns with your unique financial situation.
Special Discounts: Avail special discounts, including:
Smart Lady Discount: 2% on the first year’s premium for female lives assured.
Transgender Discount: 2% on the first year’s premium for transgender customers.
Super 35 Discount: Up to 2% on the first year’s premium for customers under 35.
Flexibility: The product offers flexibility in the entry age (30 years) and maturity age (85 years).
Plan Options:
· My Pension (Option 1): A single-life option offering assured benefits on vesting. In case of the life assured’s demise during the policy term, death benefits are provided as defined in the policy.
· Partner Pension (Option 2): A joint-life option with assured benefits on vesting. In the event of the last surviving life’s death during the policy term, death benefits are payable.
· Partner Pension Plus (Option 3): A joint-life option with an added Waiver of Premium (WoP) benefit in case of the primary life assured’s death during the Premium Payment Term. The policy continues for the second life assured with waived premiums, ensuring complete benefits.
Vesting and Death Benefit Options: Options to avail of Vesting Benefits include utilizing the entire proceeds for an annuity from the company, commuting up to 60%, or purchasing an annuity from another insurer. A Vesting Booster of 5% is added if 100% of the Vesting Benefit is used to buy an annuity from the company.
The Tata AIA Fortune Guarantee Retirement Ready Plan combines the certainty of guaranteed benefits with the flexibility to tailor the plan to individual needs. With various options, discounts, and added benefits, this plan empowers individuals and couples to embrace their retirement years with financial confidence.
30, Nov 2023
Planet Smart City set to reach INR 900+ Crore of sales in Pune flagship project
Pune, 30 November 2023: Planet Smart City, a leading global player in the affordable housing market integrating Proptech and ESG-compliant real estate solutions, has announced a near-total sell-out of its flagship ‘Universe’ project in the Life Republic Township in Hinjewadi, Pune, in partnership with Kolte-Patil Developers Limited (KPDL). As Planet Smart City’s first development in the country, this milestone signifies an extraordinary achievement, with more than 88% of residential units and 91% of commercial units being sold as of the end of September 2023.
‘Universe’, the first project launched by Planet Smart City in India in December 2020, boasts a total saleable area of 1.3+ million sq. ft. in residential units and 85,000 sq. ft. in commercial units. Despite the challenges posed by the pandemic’s second wave, ‘Universe’ is already poised to achieve a total of INR 900+ crores in sales. This exceptional achievement comes from the great dynamics of the residential housing market in Maharashtra and to the tremendous response from homebuyers who value the extensive facilities and innovative smart solutions implemented throughout the project by Planet Smart City.
The project’s success has extended beyond the borders of India, as international investors in the GCC region are responding to its unique selling points and potential for property value appreciation.
Mr. Marco Pilia, Managing Director India at Planet Smart City commented, “The successful sell-out of our first project in India is an incredible achievement for Planet Smart City globally. This performance is a great testimony to our business model and value proposition. Collaborating with best-in-class developers in India allows us to deliver high innovation in the residential market, remaining future-proofed and well within the right budget range for our customers.”
Mr. Rahul Talele, Group CEO at Kolte-Patil Developers Ltd. added, “The strong customer acceptance of the Universe project is yet another validation of Kolte-Patil’s ability to bring innovative real estate solutions to the Indian market. Collaborating with brands of international repute in the real estate space enables us to create deep value for customers with a focus on sustainability and smart solutions. Universe project has been created as an urban living paradigm that imbibes two prominent trends of our time: PropTech and ESG. Going forward, we remain confident that the success of this project will be replicated across a wider canvas in our portfolio.”
The project’s sales momentum has been ably supported by the important strategic partnership with ANAROCK Property Consultants, who have significantly contributed to its commercial success.
Aditi Watve, President of Residential Sales at ANAROCK Group, says, “It has been an absolute pleasure to work with Planet Smart City on their first project in India. For Life Republic, we have unleashed the full extent of our proprietary SaaS-driven Proptech real estate marketing solutions, with which we could precisely address the target clientele of buyers looking for superior residential lifestyle solutions.”
30, Nov 2023
ShipGlobal, a Cross-border logistics firm raises $2.5 million in funding from Infoedge Ventures
30th November 2023: ShipGlobal, a leading cross-border logistics platform, has announced that it has raised $2.5 million in funding from InfoEdge Ventures an early-stage VC fund backed by InfoEdge and Temasek. The funds will be utilized to accelerate technology capabilities, augment business operations, and expand to other countries, reinforcing the brand’s commitment to cross-border logistics innovation.
Co-founded by Aayush Anand, Angad Arora, and Vaibhav Kapur in 2022, ShipGlobal helps SMEs in India to go global by providing them with cost-effective and reliable logistics solutions. The platform simplifies international shipping for SMEs in India, offering a one-stop shop for a range of services such as customs clearance, tracking, and real-time rates.
Within a year of its operation, the company has expanded to over 15 regional offices in India and delivered over half a million packages having a gross merchandise value of over Rs.3,000 crores, solidifying its pioneer status in the cross-border logistics industry.
Speaking on the funding, Aayush Anand, Co-founder and CEO of ShipGlobal says, “We continue our path to become a preferred logistics partner for SMEs and look to leverage any strategic opportunities. The funding is an indicator of the company’s strong unit economics and the validation of our business model. With this round, we are aiming to elevate our technology, streamline operations, expand export routes, and optimize our network. We intend to be the guiding light for Indian SME businesses in global trade.”
In the dynamic global logistics market projected to reach $16,794.7 billion by 2032, ShipGlobal’s substantial funding is a notable leap forward in the mission to stimulate global trade expansion. Amidst the imperative of timely and secure product deliveries, the inclusion of tech features, including product tracking, elevates shipment security. With a team comprising domain experts, cost-effective strategies, and robust technology, ShipGlobal positions itself as a preferred partner for both customers and SMEs.
30, Nov 2023
Convenience ranks as a top priority for homebuyers while buying a home
The home buying process in Mumbai is witnessing a sea change with multiple factors at play. There is a perceptible change in the mindset of a home buyer who no longer believes that location plays a pivotal role or is the most important criterion when it comes to buying a home. Today, the ‘convenience’ factor is what a home buyer looks at when making that important home-buying decision. A prospective customer will look for large retail outlets or Malls that are located nearby or close to the housing complex along with other social infrastructure. This makes it convenient for residents to make purchases of regular household goods or indulge in shopping or enjoy in leisure and entertainment activities or save time in commuting to the office.
Commenting on the new home-buying trend, Mr. Prashant Khandelwal, CEO – of Agami said, “Home buyers of today are more knowledgeable and do extensive research before buying a home. There is a growing trend of both spouses working and therefore, do not have much time to attend to daily chores. Kalanagar in Bandra for instance looks most promising as it is home to luxury residential properties and also in close proximity to commercial districts of BKC and Santacruz. Therefore, the convenience factor plays a major role in the decision-making process whilst buying a home. They look at having all conveniences close at hand that saves on travel time and provides for a more convenient living experience.”
According to Track2Realty’s Consumer Confidence Survey, “Contrary to the industry narrative of bigger houses and preferences shifting to periphery locations, Indians are increasingly looking for convenience and lifestyle choices with a compact house.”
This changing perception of home buyers has come about due to improved connectivity within Mumbai and adjoining areas in the MMR region. There are a number of infrastructure projects that have been completed and some major projects ongoing that promise to enhance connectivity even further and help reduce commute time. This brings us to the question of where you find such areas in Mumbai where people are flocking in order to purchase their desired home. The western suburbs of Mumbai like Goregaon, Kandivali, Borivali, and even Mira Road are seeing huge demand for housing. This comes on the back of major infra projects being undertaken that will connect South Mumbai to the western suburbs in the north and beyond.
Commenting from the demand perspective, Mr. Rohan Khatau, Director, of CCI Projects said, “Western suburbs of Mumbai are witnessing a greater housing demand due to various factors like improved connectivity and better social infrastructure. Home buyers not only look at buying a home that is in close proximity to Metro stations, malls, schools, and hospitals, that provide convenience but also in areas with a potential of capital appreciation.”
Mumbai is upgrading with a number of world-class infrastructure projects underway, giving a boost to the housing sector. Suburban areas are now better connected with South Mumbai which provides the home buyer with a plethora of buying options. Suburban Mumbai offers residents all the convenience required for a comfortable living in close vicinity to their residence.
Speaking on how convenience is an important factor in a home buyer’s decision Mr. Himanshu Jain, VP – Sales, Marketing and CRM, Satellite Developers Private Limited (SDPL) said, “Home buyers are especially looking at the western suburbs to buy a home, as this region offers a mix of affordable and luxurious properties. The western suburban belt is also close to a number of offices and commercial spaces in addition to being in the heart of large malls, Retail outlets, and Entertainment zones. Given the enhanced connectivity, home buyers do not mind buying a more luxurious property, considering they get all these conveniences that come along with the home.”
In conclusion, rapid urbanization along with world-class infrastructure has propelled the growth of the housing sector. The concept of selling a project solely based on its location can no longer be capitalized on. Home buyers have moved ahead and are now looking at buying into a project that sells convenience to its prospective customers. Apart from convenience, the project should be close to infrastructure projects to make it an attractive proposition to home buyers.
