MahaRERA, the authority under Real Estate (Regulation and Development) Act, 2016, in Maharashtra, has blacklisted 644 housing projects in the state for not meeting project deadlines. The authority has prohibited them from being sold, advertised or marketed in the state. These projects were supposed to be completed and handed over to homebuyers in 2017 and 2018. Even though most of the projects are being developed by local developers, one big name on the list is Lavasa Corporation promoted by HCC whose registration expired in 2017.
'The spurt in demand for Ayurvedic products has exhausted our production capacity.'
Higher prices are burdening household budgets and threatening the margins of leading manufacturers.
According to the local Brass Handicrafts Manufacturers Association (BHMA), some 800,000 people are directly employed in Moradabad's massive brass handicrafts and utensils manufacturing industry, which has some 30,000 small and micro-scale units and a total annual turnover of Rs 10,000 crore. The manufacturers are heavily dependent on export markets such as the US, Canada, Australia and the European Union. And exports account for nearly 70 per cent of their revenues. According to industry insiders, since this year's lockdowns, manufacturing has been at 65 per cent of normal levels.
The probe agency is learnt to have taken possession of multiple physical and digital records during a search operation conducted on the premises of the South Korean firm in Delhi and Mumbai this week.
The key demand drivers -- such as low home loan rates and income tax sops, particularly for affordable housing -- that supported the recovery in H2 FY2021, remain in place and will spur recovery again, feel experts.
Mumbai recorded a 4x growth in property registrations on a yearly basis in June this year, as restrictions imposed by the state government ended. Mumbai and its suburbs recorded property registrations of 7,857 units in June, compared to 1,839 units registered in June 2020. The registrations for June were also 39 per cent higher, compared to the same month in the pre-pandemic period of June 2019, said a new report by Knight Frank India.
Sanjiv Mehta, chairman of the country's largest consumer goods company, HUL, believes that the second wave of the Covid-19 pandemic between April and June this year has been a mere pause in India's consumption story, and that it will not change the country's overall growth trajectory. India is poised for growth, especially in the fast-moving consumer goods (FMCG) sector, Mehta told shareholders at the company's annual general meeting on Tuesday. The signs of recovery are becoming evident with many states lifting lockdown restrictions in recent weeks.
While there was a sharp drop in footfalls in malls in H1FY21, there was reasonable recovery in H2. However, the second wave derailed the recovery.
With the arrival of the second Covid wave in April, the numbers fell by almost 50 per cent.
Rising prevalence of work-from-home and e-learning is driving sales of notebooks and tablets for most brands, but Apple's superior performance has more to do with its product quality.
From helping their employees infected with the Covid-19 virus to vaccinating them or supporting the families of those who might have succumbed to the infection, several companies in India are trying to do their bit in this difficult time. Some have even widened their support net to include all stakeholders as well as an extended community. To the families of the employees it lost to Covid-19, Noida-headquartered IT services and consulting company HCL Technologies is, for instance, paying salary for a year, medical insurance for three years and extending support for their children's education for five years.
Consultants who help lease these properties say this is the steepest decline at least in a decade.
Apple was a fringe player in all key categories like smartphones, notebooks, and tablets till recently. But with the last quarter's record-breaking performance, the brand has established itself in the country's price-sensitive consumer electronics market.
According to research firm IDC, a slowdown in smartphone shipments began showing up as early as late February, though companies insist that the March quarter was fine, albeit on a low base.
While the record shipments reflects the prevailing mood at the time, the exponential rise in Covid cases in the country has turned the tide since.
Durable goods companies and retailers say online sales won't compensate for the fall in offline sales.
From trucks lined up and waiting in the area to local vendors, the scenes tell a story of livelihoods stalled.
The new iMac, two iPads and iPhone 12 and 12 Mini will be open for ordering starting April 30, just like in the US, the UK, China and Japan.
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