Thursday, December 5, 2019

Pune’s real estate market ranks among the top performing ones in India

While the city contributed to 9% of India’s residential launches in the first three quarters of 2019, it has exceeded the aggregate residential sales levels of the same period in 2016 

·         Mundhwa and its neighbouring locations like  Kharadi, Wagholi and Keshav Nagar  are the top residential hotspots in Eastern part of Pune
·         In the West, Bavdhan with micro-markets in the vicinity like Balewadi, Mahalunge and Wakad are seen to be the top residential hotspots
·         Kondhwa and Wagoli to experience an increase in housing demand
·         Rise in number of corporate occupiers, skilled workforce, foreign direct investments (FDI) and good road connectivity continue to drive residential demand in Pune
·         The proximity to business hubs have resulted in high residential demand across the key micro-markets mentioned above
·         Pune ranked top in the ‘Ease of Living Index 2018’ by the Ministry of Housing and Urban Affairs in India has seen a steady rise in the number of skilled workforce, adding to the housing demand
·         Following the national trend, developers in the city have adopted a cautious approach in launching residential projects and sales
·         Significant absorption in overall Office (~6.5 mn sq. ft.), Industrial (~3.8 mn sq. ft), Retail (~0.8 mn.sq. ft.), Co-living, Senior Living, and Student Housing have significantly contributed to the growth of residential demand

Pune is one of the best performing cities in India along with Mumbai and Hyderabad during the first nine months of 2019, as it has surpassed the aggregate residential sales of the same period in 2016 (the pre-demonetization phase), according to the latest JLL report on Pune titled JLL’s Tour of India’s Top Residential Hotspots – Pune Edition, released today.
The report adds, the Quality of life index across various micro-markets along with growth in the office sector has been driving the residential sales in the city. According to the report, about 33% of the residential launches in Pune were in the North-West submarket, especially in locations such as Balewadi, Mahalunge and Wakad. Strong growth in office real estate in Baner-Balewadi has been driving the residential demand and launches in its vicinity. Price appreciation for residential assets remained range-bound at 3% Y-O-Y at the end of Q3 2019.
The top residential markets identified in the report are Mundhwa and its neighbouring locations like Kharadi, Wagholi and Keshav Nagar in the Eastern part of Pune and in the West, Bavdhan with micro-markets in the vicinity like Balewadi, Mahalunge and Wakad. These locations are likely to witness robust residential demand soon.

Some of the prominent factors which are driving residential demand are enumerated below:
A)    Proximity to Business Hubs
Mundhwa and Keshav Nagar are located in between the two key office hubs of Pune – Magarpatta and Kharadi. The North Eastern corridor has ~35 mn sq ft of built stock and the current vacancy levels are below 5%. In addition, the future stock is ~28 million sq ft which is predominantly being planned within Nagar road, Mundhwa and Kharadi. All of the above is likely to fuel residential demand in a big way.
Similarly, Bavdhan and Wakad locality is strategically located in the western corridor. The Western corridor has ~31 mn sq ft of built stock and the current vacancy levels are below 2%. In addition, the future stock is ~25 million sq ft which is predominantly being planned within the Mumbai – Bangalore Highway, Hinjewadi, Baner, Balewadi and Nanded (Pune).

B)    The connectivity advantage
Key micro markets such as Mundhwa, Kharadi, Wagholi, Keshav Nagar are located in the east of Pune and is well connected by Magarpatta Road, which joins Pune-Ahmednagar Highway in the north and Solapur-Pune Highway in the south. Similarly, Bavdhan Balewadi, Mahalunge and Wakad are located on the Mumbai-Bangalore National Highway, by-passing the Pune City. Bavdhan Road serves as the main approach road for the Mumbai-Pune Expressway. In addition to this, the development of the metro rail lines and ring road will further boost demand due to improved connectivity of the locations in future.

Supply snapshot and price arbitrage
·         Because of the huge influx of reputed developers, the key micro markets have been catering to the mid-income group. In recent past, there have been launches in the upper-mid income group segment too.
·         The key micro markets have significant land for future development of residential projects.

Emerging locations in Pune such as Kondhwa and Wagoli will mature faster as they have the support of matured locations Viman Nagar and Magarpatta Cyber city, respectively. As locations like Viman Nagar and Magarpatta Cyber city are likely to witness saturation in real estate development, the demand is expected to gradually spillover to locations like Kondhwa and Wagoli. The latter will have the advantage of leveraging on the good physical and social infrastructure in saturated markets. Moreover, the current price arbitrage will work in favour of homebuyers. These locations are likely to witness increased demand.
However, this price arbitrage is likely to increase due to the increased demand. Wagoli is already experiencing the same phenomenon as being close to Viman Nagar.
Currently, 4.54 lakh residential units are delayed or stalled in the top seven cities in India. Delhi and Mumbai together hold a lion’s share of 84%. Pune holds a share of only 3.6%. 

Please Note: Chennai and Hyderabad are the cities comparable to Pune and they hold a share of less than 2% in delayed or stalled residential units in India. Pune has seen a delay in projects of mid income segment, while most of the metro cities in India saw a delay in upper middle income and premium category projects. However, it looks like the city developers have already taken cognizance of this fact and we have observed a 43% drop Y-o-Y in launches of units priced below 75 lakh.

About JLL India
JLL is India’s premier and largest professional services firm specialising in real estate. The Firm is growing from strength to strength in India for the past two decades. JLL India has an extensive presence across 10 major cities (Mumbai, Delhi NCR, Bengaluru, Pune, Chennai, Hyderabad, Kolkata, Ahmedabad, Kochi and Coimbatore) and over 130 tier II & III markets with a cumulative strength of close to 11,000 professionals.
The Firm provides investors, developers, local corporates and multinational companies with a comprehensive range of services. This includes leasing, capital markets, research & advisory, transaction management, project development, facility management and property & asset management. These services cover various asset classes such as commercial, residential, industrial, retail, warehouse and logistics, hospitality, healthcare, senior living and education.
JLL India won the Five Star Award for ‘Best Property Consultancy at the International Property Awards Asia Pacific 2018 -19. The Firm was also recognised amongst the ‘Top 100 Best Places to Work in India’ in 2017 & 2018 in the annual survey conducted by Great Place to Work® and The Economic Times. It has also been acknowledged as ‘Property Consultant of the Decade’ at the 10th CNBC-Awaaz Real Estate Awards 2015. For further information, please visit jll.co.in

After five consecutive rate cuts in 2019, the Central Bank takes a pause

Ramesh Nair_profile photo

Ramesh Nair, CEO & Country Head – India, JLL


The central bank by keeping the rates unchanged has recognised that the need of the hour is to infuse confidence about the economic growth through a holistic approach. This will come by combining fiscal and monetary measures.

Amidst the ongoing debate of whether the RBI will bottom out its rate cut cycle or continue to slash policy rates, the sixth bi-monthly monetary policy review of 2019 ended with the central bank keeping the policy rate unchanged at 5.15%. The conjectures over the RBI pulling a pause button over rate cuts turned out to be true as it has maintained its accommodative stance.

The decision to maintain policy rates augurs well for the economy as the recently introduced policy reforms will take time to pan out and materialise. The economy needs to absorb the impact of the recently introduced reforms and the previous rate cuts. The real estate sector is expected to pick up due to the favourable policy incentives and the faster transmission of previous rate cuts.

Moreover, with the inflation already crossing the 4 percent mark and expected to remain elevated for a few quarters, further rate cuts would have posed an upside risk.

In light of the recently announced reforms doled out by the government, the real estate sector is expected to register higher growth in times to come. Measures brought so far are likely to show their impact. Complementing the corporate tax cuts and the creation of an AIF fund for stressed projects, the government should explore the options of increasing the money supply in the economy. That would not only encourage consumer spending but also stimulate investment flows and higher credit flow which has come down over the quarters.

INDIA’S #1 VOICE SONU NIGAM COLLABORATES WITH POLISH ACTRESS / SINGER NATALIA LESZ ON THE MAJESTIC “FIRE IN THE SKY”

The song is an elegant piece of contemporary pop, accompanied by a stunning music video featuring both artists

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Watch the Official Music Video here:

 Leading Mumbai-based independent record label for International Music, 9122 Records today launched the all-new International single, “Fire in the Sky” by `the #1 Voice of India’ Sonu Nigam in collaboration with Polish actress / singerNatalia Lesz.  
The collaborative single takes you on a magical journey with its soaring melody and grand production. The heart-tugging lyrics are simple yet deep with both voices complementing each other beautifully. The official music video, directed by Rahul Sud,  featuring both Sonu Nigam and Natalia Lesz, forms the perfect accompaniment to the song with its spectacular visuals and subtle story line.
Says Sonu Nigam on the song, Having been in the business of entertainment for more than 42 years now, and having had the pleasure of collaborating with the best talents and brains in our world, I have reached a point where only people and work that touches my soul, is what interests me. Thus, collaborating with Natalia Lesz for "Fire in the Sky", has been a very lovely experience. A beautiful song and a talented co-singer, and the best part is this song is absolutely different from anything that I have been associated with as yet. Besides, I'm very happy that the song is being worked by Sunil at 9122 Records who I've worked with before and know him for almost 7 - 8 years. He really understands the business of international music. “

Natalia Lesz says, “I’m so excited to be part of this special project and grateful to Sonu Nigam for sharing his incredible talent with me. It’s been a wonderful journey putting it all together – right from the song to the music video and I’m so happy the way it’s all turned out. Can’t wait to get it out to the world! Also a big thank you to Sunil at 9122 Records who’s been instrumental in making this project happen right through.”

Says Sunil D’Sa, Founder, 9122 Records, “I’ve always been a huge fan of the great Sonu Nigam who is by far still the #1 voice in India! It’s been a privilege to work with him on this project and I can’t thank him enough for giving me this opportunity. Natalia Lesz has been an absolute pleasure to work with…a powerhouse of talent: actress, ballet dancer and singer / songwriter. “Fire In The Sky” is indeed a Special song from two Very Special artists. We at 9122 Records will do everything it takes to showcase the song in the best possible way to a global audience. This is contemporary pop music at its very best”.

“Fire In The Sky” includes contributions from Swedish songwriters Kristoffer Eriksson, Lina Hansson, Simone Porter as well as Natalia Lesz, Sonu Nigam and award-winning British mixer Jeremy Wheatley (Bon Jovi, Robbie Williams, Corinne Bailey Rae, Goldfrapp, James Blunt, Duffy, John Newman, Kylie Minogue).

Popularly known as ‘The Voice of Bollywood' and ‘The #1 Voice in India’, SONU NIGAM is a legend in his own right, enthralling audiences worldwide through his music for over 3 decades. With a plethora of accolades to his credit, millions of followers across his social media handles and sold out concerts all over the globe…you'd feel Sonu has achieved everything.  However, not one to rest on his laurels, he is all set to surprise his legion of fans worldwide with the release of his first original International collaborative single “Fire In The Sky” with the talented Natalia Lesz.

The versatile Natalia Lesz, has released two studio albums to date. Her self-titled debut `Natalia Lesz’ (2008), was produced by hit makers Greg Wells (Celine Dion, Mika, One Republic, Katy Perry) and Glen Ballard (Celine Dion, No Doubt, Alanis Morissette, Annie Lennox, Shakira, Michael Jackson). The album spawned the hit “Power of Attraction”, that hit #24 on the U.S. Billboard Music Charts.  Her subsequent album `That Girl’ (2011) was certified Gold within two months of its release and received rave reviews and media quotes such as, “World-class album”, “Stylish”, “Classy & elegant”. Her music took her on tour to major stages in the US & Europe, besides, also opening for British pop star Mika and the legendary Celine Dion. On the acting front, Natalia graduated from the renowned acting  department at the Tisch School of the Arts, New York University (NYU) as well as from Music Academy in Lodz, from which she holds her Master’s degree. Natalia performed in leading and featured roles on numerous television shows and in films, many of which have been critically acclaimed.  

“Fire In The Sky” is available across streaming services exclusively on 9122 Records.

Follow 9122 Records:

3rd edition of MTaI MedTekon on 20th December

Theme of convention is ‘Fostering & Fortifying Ayushman Bharat’s Foundations’

Medical Technology Association of India (MTaI), which represents leading research-based medical technology companies with significant investments in manufacturing, R&D and healthcare worker training in India, is organizing its flagship event ‘MTaI MedTekon 2019’ on 20th December 2019 to deliberate upon ‘Fostering & Fortifying Ayushman Bharat’s Foundations’.
Hon’ble Minister of Health & Family Welfare Dr. Harsh Vardhan has been invited to inaugurate the MTaI MedTekon 2019 at The Leela Palace, New Delhi. The convention will have participation from key ministries, public and private sector think tanks, hospital groups, healthcare investors, patient groups, insurance industry, medical technology and pharmaceutical industry among others.

Ayushman Bharat was launched last year as the Centre’s flagship health program to provide access to affordable healthcare for the un-served and under-served. The scheme covers 50 crore people from low-income households. Beneficiaries could avail treatment for specific medical conditions in hospitals that have enrolled in the program. More than 47 lakh people availed treatment in the first year of the scheme.
The Ayushman Bharat program rests on four pillars - Providers, Insurance Industry, Investors and the MedTech/Pharma Industry – and the program’s success will depend on involving each stakeholder in implementation.
MTaI Director Mr. Badhri Iyengar said, “We are organizing MedTekon 2019 at a crucial time. Ayushman Bharat has just completed the first year of its implementation and the learning and experiences need to be studied to understand the areas which require reinforcements. MedTekon 2019 will have participation from all key stakeholders of the healthcare space and will deliberate on how each of them can play its role most effectively.”
MTaI Director Mr. Diwaker Rana said, “The first MedTekon talked about demystifying the MedTech sector, the second MedTekon discussed MedTech’s role in vitalizing Ayushman Bharat. This year’s MedTekon will facilitate a deeper conversation on Ayushman Bharat to strengthen the four pillars of the scheme.”
About MedTekon 2019
A successful universal healthcare program will require a robust and well co-ordinated system to serve India’s un-served and the under-served. MTaI MedTekon 2019 will bring together the vital pillars on which Ayushman Bharat rests- the Providers, Payers, Investors & the Medical Technology (MedTech) Industry to deliberate on the way forward to be even more effective and far reaching and achieve its underlining commitment, which is to “leave no one behind”.
MTaI, which believes in greater patient access and represents a wide spectrum of medical devices & equipment, has taken this opportunity to call upon stakeholders for a 360° discussion and deliberation on ‘Fostering & Fortifying Ayushman Bharat’s Foundations’.
The sessions will be delivered by esteemed panellists, which will include policy decision makers from the Government, leaders from MedTech Industry, Patient Groups, Hospitals, Healthcare Investors, and Insurance Company representatives.
For more details, please visit https://mtaiindia.org/premedtekon2019/
About Medical Technology Association of India (MTaI)
Medical Technology Association of India (MTaI) is a not-for-profit organization. MTaI represents leading research-based medical technology companies with large footprint in manufacturing, R&D and training in India.  MTaI is registered under sub-section (2) of section 7 of the Companies Act, 2013 and Rule 8 of the Companies (Incorporation) Rules, 2014.
MTaI is a responsible voice of the industry, all the time stressing on the three hallmarks of healthcare - Quality, Consistency and Patient Safety. The association is committed to improving access to affordable and quality healthcare for patients.
MTaI looks to partner with the Government of India in drawing a roadmap for growth of medical devices sector through facilitation of investments in manufacturing under 'Make in India’ scheme, in technology upgrade and in dissemination to healthcare providers.

Tuesday, December 3, 2019

Ganesh Shenoy Wins Asia Record For Maximum Miniature Paintings


Asia Book of Records has recognized artist Ganesh Kelagina Beedu Shenoy by confirming that he has broken the Asia record for his artwork “Maximum miniature paintings on a single A4 sized sheet” which was earlier broken national record and had entered prestigious India Book of Records. Ganesh Shenoy created 1029 miniature paintings, with 775 miniature paintings sized 1cm X 0.5cm and remaining 254 paintings sized 1cm X 1cm, drawn on a single A4 paper card using color pencils and acrylic colors.

Asia Book of Records is a platform where the record holders of all major National ‘Book of Records’ including ‘India Book of Records’, ‘Vietnam Book of Records’, ‘Indo-China Book of Records’, ‘Laos Book of Records’, ‘Nepal Book of Records’ and ‘Bangladesh Book of Records’ meet to compare, compete and claim the title of ‘Asia Book of Records’ Holder. 

Ganesh Shenoy is from Mangalore, Karnataka and he is the son of veteran artist and Lalit Kala Academy award winner Late K.Pundalik Shenoy. His mother Late Padmini Shenoy was also a noted artist. Right from his childhood he is interested in painting and has secured many prizes / recognitions and had conducted exhibitions of his artworks.  Last year one of his paintings on Lord Jesus Christ was featured in “L’Osservatore Romano” – newspaper of Vatican City.

Ganesh uses many mediums and styles while painting. His favorite styles are pointillism, mosaic and expressionism. Ganesh Shenoy has never sold his paintings for personal gain. He always donates his paintings to philanthropic organizations so that they can sell and utilize the proceedings for charity work.

Ganesh Shenoy is working as a HR Manager in Sodexo at Qatar. He is living with his wife Arti Shenoy in Doha - Qatar since from the past 12 years. His daughter Anisha Shenoy is pursuing her MBBS in KVG Medical college, Sullia, Karnataka

Monday, December 2, 2019

India-born Gurdarshan Mangat looking to extend his winning streak at ONE Championship

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Mangat looks forward to visiting his roots in India

India-born Gurdarshan Mangat, who has placed the country on the Mixed Martials Arts map, will return to the ring on December 6 at ONE: MARK OF GREATNESS to meet Reece McLaren at the Axiata Arena here in Kuala Lumpur, Malaysia.

For the child of Indian immigrants, who is an epitome of courage, the journey had not been easy. The loss of his cousin, who had introduced him to MMA during his growing years in Canada, hit the shy boy hard. Not only that, he had to battle asthma from a young age as well as hernia in the days leading up to his contest with MMA veteran Abro Fernandes at the Axiata Arena in July.

“You know what it feels like when you cannot get air and your lungs are compressed. People do not know how much work and effort I put into my endurance and my training to be able to show up and put on that kind of performance. It does not just come naturally to me,” said Mangat.

The 32-year-old also honed his skills sparring alongside reigning ONE Bantamweight World Champion Bibiano Fernandes and ONE Flyweight World Grand Prix Champion Demetrious Johnson. And that helped him achieve a decision victory over Fernandes to improve to 2-0 with ONE Championship and 15-2 overall in his career with his other victory being over MMA veteran Toni Tauru.

Now that he has proven his worth twice with ONE Championship, Mangat, who put together a stellar 6-2 mark as an amateur coming up through the ranks, is upbeat about his upcoming fight.

When the youngster was pushed off the track by depression and loneliness, it was champion Vitor Belfort’s healing words which lifted him and restored his self-confidence. Mangat also benefitted from working with a sports psychologist.

“Now I am actually enjoying my career, it is because of ONE Championship. The way it is all set up, I know how many people are watching and what I represent to them. It inspires me to produce my best and the fan support encourages me to give more every time I enter the ring,” said Mangat, who looks forward to visiting his roots in India.

About ONE Championship™
ONE Championship (ONE) is the largest global sports media property in Asian history, and the largest producer of millennial live sports content in Asia. Headquartered in Singapore, ONE is the Home of Martial Arts, and is the world's largest martial arts organization, hosting bouts across all styles of martial arts such as Muay Thai, Kickboxing, Karate, Kung Fu, Silat, Sanda, Lethwei, Mixed Martial Arts, Tae Kwon Do, Submission Grappling, and more. ONE hosts the biggest sports entertainment events across Asia, featuring some of the world's best martial artists and world champions on the largest global media broadcast in Asia. ONE Esports, a subsidiary of ONE Championship, runs Asia's largest global esports Championship Series with some of the biggest blockbuster game titles in the world. In addition to its digital

platforms, ONE Championship broadcasts to over 2.6 billion potential viewers across 140+ countries with some of the largest global broadcasters, including Fox Sports, ABS-CBN, Astro, ClaroSports, Startimes, Thairath TV, Skynet, Mediacorp, Great Sports, Tencent, Star TV, Mediaset Italia, ProSiebenSat.1, Dubai Sports, Turner Sports, and mor   

Gurdarshan Mangat in action during the ONE Championship.jpg


Godrej & Boyce along with renowned author Katie Bagli launch children’s book “Many Secrets of Mangroves”


~The book will focus on creating awareness about the importance of conservation of mangroves among kids

Godrej & Boyce collaborated with renowned children’s author Katie Bagli to create the book “Many Secrets of Mangroves”. The book, launched today, is just one of the many initiatives by the company to spread awareness about environment conservation and the importance of the Mangroves ecosystem.

The book, unveiled by Dr. Pheroza Godrej, an avid nature lover has been dedicated to the memory of Naval Pirojsha Godrej – a man who not only built the Indian industry but was also passionate about the environment. Dr. K. Kathiresan, a world-class scientist, also gave a talk on the diversity and importance of Indian Mangroves. He has spent most of his career studying the mangrove wetlands.

Mangroves are not only treasure troves of biodiversity but also are of great ecological importance. Also known as ‘Oceanic Rain-forests’, Mangroves provide the right conditions for fish to breed, thereby supporting the livelihood of fishermen. In addition, they provide firewood, timber, cattle feed, honey, medicines, recreation and scope for tourism development. They are the only tall tree forests between the land and sea in the tropical and warm temperate coasts. Mangroves are like “Green forts” that protect the coastal life against natural calamities such as tsunamis, storm surges, cyclones and floods. It was the mangroves that saved human life and property in India during the 1999 super-cyclone of Odisha and the 2004 Asian tsunami
During the launch, author Katie Bagli laid emphasis on the importance of Mangroves in protecting the city from the increasing pollution and against natural calamities. While unveiling the book, Author Katie Bagli said, “We have only one life and we must do our best to live it the right way so that future generations may also continue to enjoy the gifts of nature. In doing so, we must also teach our children the importance of protecting the environment and the part that they can also play in a world where digital technologies and social media play a large influence in our lives. I’m proud to have worked alongside Godrej in creating a book that will help spread such awareness and influence young minds who will play a major role in shaping our future. We hope the children have fun, learn and pass the knowledge on to their friends too.”

On this occasion Dr. Pheroza Godrej said, “Children are key to the progress of our nation. As parents and mentors, we must do our part to arm them with the right values and information to enable them to act responsibly. We undertook the endeavor of putting together this wonderful book along with Katie Bagli in order to educate the young minds and enable fun learning too. We hope that the children that read this book will grow fond of the characters that protect the environment.”

Speaking at the book launch Mr. Anup Mathew, EVP and Business Head, Godrej Construction, Godrej & Boyce, said “It is evident that many countries around the world are increasingly bearing the consequences of Climate Change. India is not an exception. Adults and children, both need to be aware about its impact. Our children will play a major role in shaping the future of the country. They need to
be inspired to choose wisely - being mindful about the importance of conserving nature. We are hopeful that with the help of this book, children will be able to learn about the importance of mangroves in the ecosystem in a fun-filled manner.”
The book has nine different stories and ends with the pictures of the mangroves and wildlife. The book is absolutely free and will be available on the mangroves website (mangroves.godrej.com).

On June 5th this year, on the occasion of World Environment Day, Godrej has also released the upgraded version of the ‘Mangroves App’. This app covers 67 Indian mangrove and mangrove associate species and is available in 9 Indian languages of coastal states along with Hindi and English. It is available on Android, iOS, and Windows platforms.

About Godrej & Boyce:
Godrej & Boyce, a Godrej Group Company, operates across 14 diverse businesses. Founded in 1897, the company started with the manufacture of high quality locks. It has since diversified into Consumer Goods, Office and Industrial Products & Services, Infrastructure & Real Estate. Headquartered in Mumbai, Godrej & Boyce specializes in and is a market leader in Appliances, Furniture & Interiors, Security Solutions, Locking Solutions, AV solutions, Vending, Material Handling, Industrial Logistics, Aerospace, Nuclear Power, Defense, Tooling solutions for Auto industry, Process Equipment, Power Infrastructure, Real Estate and Green Building Consulting. Godrej is one of India’s most trusted brands serving over 1.1bn customers worldwide, every day.
About Godrej Mangroves:

The Godrej mangroves at Vikhroli extend their silent ecosystem services much beyond their boundaries to the entire Mumbai Metropolitan Region. A two-year research study revealed that the standing stock, with its biomass and sediments, holds 6 lakh tonnes equivalent of carbon dioxide - a key greenhouse gas responsible for global warming and climate change. Additionally, around 60,000 equivalent tonnes of carbon dioxide is sequestered every year. Besides land stabilisation, the mangrove ecosystem plays a vital role in natural cycles and nutrient recycling thereby maintaining the environment balance