Housing sales for the year breach pre-Covid levels
Real Estate

Housing sales for the year breach pre-Covid levels

India's residential market is reportedly expected to sustain momentum despite rise in mortgage and property rates as sales this year across the top seven cities are likely to breach pre-pandemic level of 262,000 units. Following the four back-to-back disruptions in form of demonetisation, RERA, GST and COVID-19 in the last 6 years, the housing market is going through a lot of structural changes and is now at the start of a long-term upcycle, as per reports. Homebuyers body FPCE gives credit to the Real Estate Regulatory Authority (RERA) under the Real Estate (Regulation & Development) Act, 2016 for this improved buying sentiment. All major listed real estate developers have posted record sales bookings in the last fiscal and have given guidance that their sales numbers in FY'23 will be even better.

India's residential market is reportedly expected to sustain momentum despite rise in mortgage and property rates as sales this year across the top seven cities are likely to breach pre-pandemic level of 262,000 units. Following the four back-to-back disruptions in form of demonetisation, RERA, GST and COVID-19 in the last 6 years, the housing market is going through a lot of structural changes and is now at the start of a long-term upcycle, as per reports. Homebuyers body FPCE gives credit to the Real Estate Regulatory Authority (RERA) under the Real Estate (Regulation & Development) Act, 2016 for this improved buying sentiment. All major listed real estate developers have posted record sales bookings in the last fiscal and have given guidance that their sales numbers in FY'23 will be even better.

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Infrastructure Urban

CONCOR Launches Double-stack Service Between NCR and Varnama

State-run Container Corporation of India (CONCOR) has launched double-stack container train services between the National Capital Region (NCR) and Varnama near Baroda. This initiative aims to facilitate customers at Nhava Sheva near Mumbai, home to Jawaharlal Nehru Port (J N Port). On December 21, the first double-stack container train from Khatuwas and Dadri in NCR reached CONCOR’s Gati Shakti Multimodal Cargo Terminal (GCT) at Varnama, situated along the Western Dedicated Freight Corridor (WDFC). The train carried export cargo destined for J N Port, according to a statement from the state..

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Infrastructure Transport

Less than 10% of Rs 40 Billion State-aid for Shipbuilding Utilised

A government-sanctioned financial assistance program worth Rs 40 billion, intended to support local shipbuilders over a decade starting in April 2016, has seen minimal utilisation, with only Rs 3.85 billion—less than 10 per cent of the total fund—disbursed thus far. With 15 months remaining before the scheme concludes, its uptake has been limited. The financial aid applies to shipbuilding contracts signed between April 1, 2016, and March 31, 2026. According to a written response provided by Union Minister of Ports, Shipping, and Waterways Sarbananda Sonowal to the Rajya Sabha on December ..

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Infrastructure Transport

Civil Aviation Minister Opens New ATC Tower at Indore Airport

The Minister for Civil Aviation, Ram Mohan Naidu Kinjarapu, inaugurated the new Air Traffic Control (ATC) Tower-cum-technical block at Devi Ahilyabai Holkar International Airport in Indore, Madhya Pradesh. During the inauguration, the minister toured the facility, where ATC experts explained various technical aspects of tracking and coordinating flights from the newly constructed tower. In addition to the ATC tower, the airport has also introduced a zero-waste plant. The union minister confirmed that this initiative aligns with the government’s commitment to sustainability. Minister Ki..

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