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Indian Hotel Industry – A Post-Pandemic Snapshot

Saying that Covid-19 has had an unprecedented impact on the hotels sector in India is putting it mildly. We anticipate the overall Indian hospitality sector (including organised, unorganised and semi-organised operators) to incur an estimated total revenue loss of approximately Rs 90,000 crore in 2020. By Mandeep Lamba The occupancy and average daily rate (ADR)

  • November 30, 2020
  • 101
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Mall Supply in 2020: 5 Launched Across India So Far

Severely impacted by Covid-19, Indian cities in 2020 saw the addition of just five new malls spanning ~2.75 mn sft area. Among the cities that added the new mall supply are Gurugram, Delhi, Lucknow, and Bengaluru. The supply is far less than the previously predicted numbers. “Before the Covid-19-catalyzed lockdown in March, our research indicated

  • November 17, 2020
  • 67
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Magicbricks Launches Rental Solutions

In a bid to widen its property services marketplace and consolidate smart solutions for homeowners as well as tenants, property site Magicbricks has launched a range of rental solutions. The company has unveiled its Rental Agreement, Tenant Verification, and Pay Rent. The new rental products, it said, are aimed at building a “fair” and “transparent” relationship between landlords and

  • November 10, 2020
  • 43
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India will Spend over Rs 37 Trillion a Year to Accommodate Population by 2030: Report

The country will spend $500 billion (Rs 37 trillion) a year by 2030 to accommodate its rapidly expanding population, according to the latest report by the international construction and consultancy firm Mace. The report, ‘A Blueprint for Modern Infrastructure Delivery’ states that since the global Covid-19 pandemic took hold at the start of 2020, infrastructure

  • November 4, 2020
  • 65
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Housing Sales Set to rise 35% this Festive Season

Previous year trends suggest that housing sales across top cities in the festive quarter (Oct-Dec) mostly saw an uptick – anywhere between 5-10% – over the preceding quarter. This is largely because the festive season is considered most auspicious for property buying in India and developers also roll out various schemes and offers to fuel

  • October 15, 2020
  • 55
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Magicbricks Partners with Urban Company to offer Home Services for Sanitisation, Pest Control

Property site Magicbricks has forayed into the property services business as it moves towards consolidating a whole bouquet of smart solutions for homeowners and tenants. The company has entered into a partnership with Urban Company (formerly UrbanClap), India and the UAE’s largest tech-enabled home services company, to offer its users home services for sanitisation and pest control

  • October 8, 2020
  • 121
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Developers Explore Coworking Spaces in Residential Projects

Amidst several Covid-19-induced changes within the Indian real estate, many developers are now mulling the viability of incorporating coworking spaces in their residential projects to align with the new work-from-home (WFH) realities. There are at least two possibilities – retrofitting co-working spaces into existing clubhouses, and incorporating such a feature at the very design stage

  • October 6, 2020
  • 73
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How Realty Reacted to Modi Govt’s Rs 25,000 Cr Bailout Package

In a significant move aimed at bringing relief to homebuyers and realty players, the Modi government has announced constitution of a Rs 25,000 crore Alternative Investment Fund (AIF) for reviving 1,600 stalled projects, mainly in the affordable and middle-income categories. These monies will be pumped in jointly by the government, Life Insurance Corporation of India

  • November 14, 2019
  • 180