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Over 3 in 10 Indian buyers looking for ultra-luxury homes: Report

Over 3 in 10 Indian buyers looking for ultra-luxury homes: ReportIANS

More than three in 10 (35 per cent) Indian property buyers are now interested in luxury and ultra-luxury homes, nearly double the 18 per cent recorded in the previous quarter (Q2), according to a report on Thursday, as disposable incomes rise amid overall economic growth.

This notable shift reflects growing confidence in the luxury housing market, according to the survey by real estate platform Magicbricks.

The findings showed that 25.5 per cent of prospective buyers are considering properties priced above Rs 1 crore, with significant interest in the Rs 3.5–Rs 5 crore segment.

The survey also underscores a strong preference for larger living spaces.

Around 45 per cent of respondents are seeking homes above 2,000 square feet, driven by post-Covid lifestyle changes and rising disposable incomes.

Additionally, 56 per cent of buyers favour configurations of 3BHK or larger, emphasizing a demand for more spacious and functional homes.

“These insights underline a dynamic shift in consumer preferences, reinforcing the luxury segment’s prominence in India’s real estate landscape,” said the report.

Meanwhile, a majority of homebuyers in India expects property prices to rise by 6-15 per cent over the next 12 months, citing capital appreciation and rental yields as key motivators.

Survey also underscores a strong preference for larger living spaceIANS

Those with annual household incomes between Rs 20 lakh-Rs 30 lakh are showing strongest preference for purchasing homes, signalling rising aspirations within the middle-income segment. These buyers are mainly considering investments in the Rs 75 lakh to Rs 1 crore range, according to a recent report by Magicbricks.

About 35 per cent view return on investment (ROI) through property appreciation as their primary reason for buying, while 22 per cent are motivated by rising rental yields. Notably, most homebuyers did not see inflation as a deterrent in their purchasing decisions.

For households with an annual income exceeding Rs 1 crore, the preferred budget is typically between Rs 3.5-Rs 5 crore. More Indians are now opting for “lifestyle residences” and real estate remains the most preferred asset class for investment, especially premium properties.

(With inputs from IANS)

November 8, 2024
Subhash Ghai Presents the IIFTC Global Indian Cinema Icon Award to Ashok Amritraj

MUMBAI: The 11th edition of the prestigious IIFTC Awards, Asia’s largest film tourism event, occurred in Mumbai. Filmmakers and actors were honored for their exceptional contributions to promoting global tourism through cinema. The awards continued the tradition of celebrating cinematic excellence that entertains audiences and inspires them to explore new destinations and cultures.

Harshad Bhagwat, Promoter of the IIFTC Awards, highlighted the importance of the event, saying “Cinema has the power to transcend borders, not only by telling stories but also by showcasing the beauty and culture of various destinations worldwide. Through their films, our awardees have turned the spotlight on these locations, deeply impacting global tourism. The 11th IIFTC Awards continue our mission to honor those who have significantly contributed to film tourism, making cinema a bridge between cultures and landscapes.”

Commenting on the occasion Subhash Ghai said “It is an honor to celebrate a visionary like Ashok Amritraj, whose contributions to global cinema have been instrumental in uniting audiences across cultures. Through his dedication and artistry, he has shown how powerful storytelling can transcend borders and inspire us all.” Upon receiving the award Ashok Amritraj mentioned “I am deeply grateful to receive this prestigious recognition from IIFTC and to stand among such extraordinary filmmakers who champion storytelling as a bridge between cultures. Cinema has an unparalleled ability to bring diverse destinations and experiences to audiences around the world, sparking curiosity and connection.”

These quotes highlight the collaborative spirit of cinema and tourism, honoring Ashok Amritraj’s global influence while celebrating the shared vision of IIFTC and its mission.

The International Indian Film Tourism Conclave (IIFTC) was held from October 23rd to 25th. It will bring together filmmakers and international tourism boards to foster collaboration between the two industries. Over 50 companies from more than 20 countries, including Azerbaijan, South Africa, the USA, Spain, and many more, participated, further solidifying the event’s standing as the leading platform for promoting film tourism.

This year’s awardees included prominent names from Indian cinema, recognized for their work in showcasing breathtaking destinations on the big screen:

IIFTC Tourism Impact Award for Cinematic Excellence – Web Series to ‘The Freelancer’ by Friday Storytellers

Tu Jhoothi Main Makkaar (Hindi) Luv Films, T-Series

Pathan (Hindi) by Yash Raj Films

Waltair Veerayya (Telugu) by Mythri Movie Makers

Baanadariyalli (Kannada) by Sri Vaare Talkies

Made in Caravan (Malayalam) by Badusha Productions

Spy (Telugu) by ED Entertainment

Kranti (Kannada) by Media House Studio

Chandramukhi 2 (Tamil) by Lyca Productions

Aaro Ek Prithibi (Bengali) by Eskay Movies

Ayisha (Malayalam) by Cross Border Cinema

Victoria – Ek Rahasya (Marathi) by Anand Pandit Motion Pictures

IIFTC Tourism Impact Award for Cinematic Excellence – Films

IIFTC Film Tourism Award for Outstanding Location – Azerbaijan

IIFTC Tourism Impact Award for Cultural Integration to Leo (Tamil) by Seven Screen Studio

IIFTC Special Awards

Outstanding Contribution (Hindi): Shoojit Sircar

Global Indian Cinematic Icon: Ashok Amritraj

The 11th IIFTC Awards once again celebrated the unique synergy between cinema and tourism, honoring filmmakers whose work has significantly influenced global travel through the art of storytelling.

November 6, 2024
Indian stock market agrees with Trump win, Sensex surges 901 points

IANS

The Indian benchmark indices on Wednesday welcomed Donald Trump’s convincing victory in the US presidential elections as both Sensex and Nifty gained more than 1 per cent amid heavy buying in the IT sector.

The Sensex closed at 80,378.13, up 901.50 points or 1.13 per cent.

On the other hand, Nifty closed at 24,484 after gaining 270.75 points or 1.12 per cent. The Nifty Bank rose 110.15 points or 0.21 per cent to 52,317.40. The Nifty Midcap 100 index closed at 57,355.80 at the end of trading after gaining 1240.35 points or 2.21 per cent. Nifty Smallcap 100 index closed at 18,906.10 after gaining 402.65 points or 2.18 per cent.

Buying was seen in Nifty’s auto, IT, PSU bank, financial service, pharma, FMCG, metal, realty, media, and energy sectors. All sectors closed with trading in green.

IANS

TCS, HCL Tech, Infosys, Tech Mahindra, Adani Ports, L&T, and Maruti were the top gainers in the Sensex pack. Titan, IndusInd Bank, Hindustan Unilever, Axis Bank, and HDFC Bank were the top losers.

The market trend remained positive. On the Bombay Stock Exchange (BSE), 3,013 stocks were trading in the green, 961 in the red, and there was no change in 89 shares.

According to market experts, the global markets experienced a relief rally following the US election results, reducing political uncertainty with Trump securing a strong mandate.

This has led to strong risk-on sentiments, driven by expectations of tax cuts and increased government spending. The domestic buying was broad-based, with IT leading the charge in anticipation of a rebound in IT spending in the US, they said.

(With inputs from IANS)

November 6, 2024
Samosa Caucus expands to six as Indian American Suhas Subramanyam wins from Virginia

Six Indian Americans have won the elections to the House of Representatives, increasing the ‘Samosa Caucus’ — the group of Indian-American lawmakers — from five in the current Congress.

Suhas Subramanyan. Photo courtesy: www.suhasforvirginia.com

Indian-American lawyer Suhas Subramanyam created history by becoming the first from the community to be elected from Virginia and the entire East Coast.

Subramanyan defeated Mike Clancy of the Republican Party. He is currently a Virginia State Senator. There is a possibility that the number of Indian Americans in the House of Representatives might increase to seven as Dr Amish Shah was leading by a slender margin against his Republican incumbent in the first Congressional District of Arizona.

“I am honoured and humbled that the people of Virginia’s 10th District put their trust in me to take on the toughest fights and deliver results in Congress. This district is my home. I got married here, my wife Miranda and I are raising our daughters here, and the issues our community faces are personal to our family. It is an honour to continue serving this district in Washington,” Subramanyam said.

Subramanyam, who previously served as a White House Advisor to President Barack Obama, is a Hindu by faith and is popular among Indian Americans nationwide. He joins the ‘Samosa Caucus’ in the Congress that currently comprises five Indian Americans – Ami Bera, Raja Krishnamoorthi, Ro Khanna, Pramila Jayapal and Shri Thanedar.

All the five existing Indian American members were re-elected to the House of Representatives.

Shri Thanedar was re-elected for the second consecutive term from the 13th Congressional District of Michigan. He won it for the first time in 2023. Raja Krishnamoorthi won the seventh Congressional District of Illinois for the fifth consecutive term.

“While the battles for control of the White House and Congress remain close, I am honoured that the people of Illinois’ 8th District have extended my contract to represent them in Congress,” Krishnamoorthi said. “My parents came to this country with little more than a dream for their family’s future and the faith that they could achieve it here in America.”

Ro Khanna, who represents the seventeenth Congressional District of California and Congresswoman Pramila Jayapal, who represents the seventh Congressional District of Washington State, also won. A physician by profession, Dr Ami Bera, another Indian American Congressman who won, represents the sixth Congressional District of California since 2013. He was re-elected for the seventh consecutive term.

Dr. Ami Bera, a member of the United States House of Representatives from California since 2013, speaking at the event. Photo courtesy: IAS

In Arizona, Shah from the Democratic Party, was slightly ahead of his Republican Party’s incumbent David Schweikett.

He has 132,712 votes as against his rival’s 128,606 votes when 63% of the votes were counted.

November 6, 2024
Goodknight and Indian Academy of Pediatrics Unite to Combat Mosquito-Borne Diseases

PUNE: Goodknight, India’s leading mosquito repellent brand, along with the Indian Academy of Pediatrics (IAP), emphasized the critical role of adopting preventive measures in the fight against mosquito-borne diseases at Maha Pedicon 2024, a major pediatricians conference that took place in Nagpur, Maharashtra. This insight came out as part of a panel discussion organized at Maha Pedicon. The conference, organized by the Indian Academy of Pediatrics (IAP), gathered more than 1300+ pediatricians and child health experts to discuss the future of pediatric care with creativity, collaboration, and care. In addition to addressing critical child health issues like sickle cell, type 1 diabetes, and mobile addiction, the conference also focussed on mosquito-borne diseases and their ongoing threat.

1,83,610 malaria and dengue cases were reported in India until August 2024, according to the National Center for Vector Borne Diseases Control (NCVBDC). The growing threat of vector-borne diseases such as malaria and dengue is no longer confined to the monsoon season, posing a year-round concern for public health, especially among children, who are the most vulnerable. With children being at higher risk due to their developing immune systems, ensuring their protection becomes an urgent priority. Thus, Goodknight collaborated with Maha Pedicon, organized by the Indian Academy of Pediatrics, to highlight the role of pediatricians in raising awareness about preventive measures.

During the discussions on child health, senior pediatricians such as Dr. Nitin Shah, Dr. Vijay Yewale, Dr. Ganesh Kulkarni, and Dr. Surendranath, along with Dr. Reena Bibals, Global Head of R&D (Household Insecticides) at Godrej Consumer Products Ltd (GCPL), participated in a panel to discuss the alarming rise in diseases like dengue and malaria and the importance of adopting safe and effective prevention strategies in households. The discussion was jointly moderated by Dr. Vasant Khalatkar, National President-Elect of IAP, and Dr. Samir Dalwai, Developmental Pediatrician & Senior Member of IAP. The panel discussed essential safety aspects of household insecticide products, including how to identify government-approved, legal, and safe options, as well as best practices for responsible usage to protect family health.

Speaking at the panel discussion, Reena Bibals, Global Head – R&D (Household Insecticides), Godrej Consumer Products Ltd, said,” By collaborating with the Indian Academy of Pediatrics, our initiative has two key objectives. First, to raise awareness amongst households about the use of effective solutions to prevent mosquito-borne diseases. As per a Goodknight survey report, 58% of Indians are very particular about the kind of mosquito repellents they use, we must make them aware of preventive solutions that are available in the market post undergoing due regulatory compliance“.

Reena Bibals further added, “Our second focus is to engage medical professionals to generate awareness of the regulatory compliance and safe use of mosquito repellent products from reliable brands that are available in the market. This will empower them to offer the best preventive care and guidance to their patients. As a category leader, Goodknight is committed to driving these efforts, fostering both better mosquito control solutions and greater awareness of the right preventive measures.”

Dr. Samir Dalwai, a prominent Developmental Pediatrician and Senior Member of the Indian Academy of Pediatrics (IAP) said, “While it affects everyone, children remain the most vulnerable to mosquito-borne diseases. At the same time, rising cases of mosquito-borne diseases also lead to an increased socio-economic burden on households. Hence, prevention is a basic yet vital aspect of tackling mosquito-borne diseases and improving the overall health quotient of the nation. A crucial defense mechanism is to utilize legal and medically approved prevention solutions. Prioritizing prevention and adopting approved solutions ensures that they have undergone rigorous testing, are certified as safe and effective, and allow us to protect ourselves without jeopardizing our well-being.”

The panel of pediatricians opined that preventing mosquito-borne diseases will involve personal protection, environmental control, and community efforts. Key solutions include using insect repellents, mosquito nets, and repellent products like vaporizers. Eliminating standing water to reduce breeding sites and applying larvicides are essential environmental measures. Installing window screens and participating in fumigation campaigns also help control mosquito populations. Public awareness campaigns and the use of certified, safe products ensure effective prevention, while biological controls like introducing natural predators further support long-term management. The panel emphasized that public-private partnerships between the government, institutions, and private sector companies will be essential to reduce the impact of mosquito-borne diseases across India.

November 6, 2024
US polls: Bangla only Indian language on New York’s ballot papers

More than 200 languages are spoken in New York, according to the Department of City Planning, backing the claim of it being the melting pot of America. However, the ballot papers in the US presidential elections will have only four other languages apart from English.

US voters exercising their rights at a polling booth. Photo courtesy: Screengrab from YouTube

And guess what? Bangla or Bengali represents the Indian languages in this list. The US will, on Tuesday, vote to elect its 47th President.

“We are required to service four other languages besides English. It is Chinese, Spanish, Korean and Bengali as the Asian languages,” says Micheal J Ryan, Executive Director, Board of Elections, NYC.

Subhshesh, who works as a sales agent in a store in Times Square, has Bengali roots. He is happy that his father, living in the Queens area, will get linguistic assistance when he goes to cast his vote.

“People like me know English, but there are many in our community who are comfortable in the native language. This helps them at the polling station. I am sure my father will like the idea of seeing a Bengali language ballot paper,” says Subhshesh.

The inclusion of Bengali on ballot papers is not just a courtesy but a legal requirement. By law, New York City is obligated to provide voting materials in Bengali at certain poll sites. This mandate extends beyond just ballot papers to include other essential voting materials, ensuring comprehensive language support for Bengali-speaking voters.

Ryan explains the reason why Bengali is among the list of languages the Board of Elections serves.

ALSO READ: Marathi, Bengali among five languages conferred classical status by Indian Cabinet

“There was a lawsuit about language access and as you know the country of India has a lot of different languages within it. The settlement of that lawsuit required within a certain population density to have an Asian Indian language. Then through some negotiations, they settled on Bengali. I understand the limitations of Bengali being the choice, but it came out of a lawsuit,” he said.

The first time the South Asian community in the Queen’s locality of New York found ballots translated into Bengali was in 2013. The addition of Bengali-language ballots came nearly two years after the federal government ordered the city to provide language assistance to South Asian minorities under a provision of the 1965 Voting Rights Act.

The Bengali-speaking population includes people coming from Asian countries like India and Bangladesh. While it does not represent the whole gamut of languages spoken in the region, the inclusion of this language is expected to have a significant impact on voter participation within the Bengali-speaking community.

Dr Avinash Gupta, President, of the Federation of Indian Association says it helps the Indian community.

“It will help the Indian population to go out and vote. That is how we can get our voices heard. We are a sizable population. It is heartening to see how Indians go out and vote and even contest elections,” says Dr Avinash Gupta.

November 4, 2024
Train Cancelled: Indian Railways canceled these trains of this route in November. check the list

Train Cancelled: Indian Railways is called the lifeline of the country. Every day in India, crores of passengers reach their destination with the help of trains. Indian Railways operates thousands of trains for these passengers.

Traveling by flight is expensive for people, that is why in India when someone has to travel a long distance, most people prefer to travel by train.

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