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Times of Oman
3 days ago
- Business
- Times of Oman
Real estate sales expand for 1st time in June in last 12 months, pricing growth remains firm
New Delhi: India's residential real estate market saw a notable turnaround in June 2025, as housing sales (absorption) across the top eight tier-1 cities rose 2 per cent year-on-year--the first annual growth in 12 months. This uptick comes after declines of 11 per cent and 2 per cent in April and May, respectively, and is largely attributed to the base effect fading from the high absorption seen in April-May 2024. However, every quarter, sales were still down 4 per cent YoY. According to a UBS report, city-wise sales trends were mixed. Delhi-NCR's prominent realty market Gurugram led the recovery with a 68 per cent YoY jump in volumes, followed by Chennai (24 per cent) and Hyderabad (15 per cent). On the other hand, Mumbai Metropolitan Region (MMR) saw a 29 per cent decline in volumes, while Pune and Bengaluru recorded drops of 27 per cent and 6 per cent, respectively. According to the analysis, despite volume moderation in some cities, housing prices continued to rise robustly. In June 2025, average absorption prices in top-tier cities surged 20 per cent YoY, compared to 10 per cent in May. "Pricing growth remained firm across cities, aided by healthy inventory levels (driven in turn by calibrated supply)," the report added. On a quarterly basis, prices were largely flat sequentially but still posted a solid 14 per cent YoY gain. Gurugram again led the trends with a sharp 40 per cent YoY price increase, followed by Chennai (21 per cent) and Bengaluru (14 per cent). MMR, Pune, and Hyderabad recorded more moderate gains of 8-10 per cent, signalling continued pricing resilience despite varied sales performance. The report observed that the new residential launches across major cities declined 12 per cent YoY in June, indicating a demand-calibrated approach by developers. As a result, the inventory-to-sales (I/S) ratio, which measures the amount of inventory developers are carrying compared to the number of sales orders being fulfilled across top cities, remained largely stable, rising slightly to 1.68x in June from 1.66x in May--well below the peak of 3x seen during the downcycle. Conversely, inventory levels in southern cities such as Hyderabad, Bengaluru, and Chennai increased YoY. The data confirms expectations that YoY sales trends would improve starting June as base effects fade. The UBS analysts maintain a positive outlook for MMR and Gurugram, citing strong price growth and controlled inventories, while expressing caution over Bengaluru and Hyderabad due to rising inventory ratios.
Skift
10-07-2025
- Business
- Skift
Oyo Partners With Yatra to Ride India's Business Travel Boom
As India's spending power increases, IPO-bound Oyo has been expanding beyond its traditional franchise and economy model. Along with its premiumization push, the company has now set its sights on the Indian business travel segment. Hospitality company Oyo Thursday said it has partnered with online travel company Yatra to tap into the Indian business travel market segment. The partnership focuses on key business centers like Delhi-NCR, Mumbai, Bengaluru, Chennai, Kolkata, Ahmedabad and 'major industrial hubs and transit corridors,' Oyo said in a statement. Yatra's platform has already onboarded more than 500 of Oyo's company-serviced hotels. These include mid-premium and premium brands such as Sunday, Palette, Clubhouse, Townhouse, Townhouse Oak, and Collection O. Oyo is planning to add another 1,000 company-serviced hotels to the Yatra platform by September. Oyo said the move will strengthen Yatra's inventory, especially in emerging metros where the demand for quality accommodation is surging due to increased business travel. 'While direct demand continues to be our main
Times of Oman
10-07-2025
- Politics
- Times of Oman
4.4 magnitude earthquake jolts Delhi-NCR
New Delhi: Former Delhi Chief Minister and Aam Admi Party (AAP) leader Arvind Kejriwal expressed concern for the safety of residents after strong tremors from a 4.4 magnitude earthquake, with its epicentre in Haryana's Jhajjar district, were felt across Delhi-NCR on Thursday morning. "Hope everyone is safe after the earthquake. Praying for the well-being of all," Kejriwal posted on X. According to the National Centre for Seismology (NCS), the earthquake struck Haryana's Jhajjar district at around 9:04 am at a depth of 10 km. Strong tremors were reported in Delhi, Noida, Gurugram, Faridabad, and nearby areas, prompting people to step out of buildings in several locations. "EQ of M: 4.4, On: 10/07/2025 09:04:50 IST, Lat: 28.63 N, Long: 76.68 E, Depth: 10 Km, Location: Jhajjar, Haryana," the NCS wrote in a post on X. Delhi is classified as Seismic Zone IV, according to the Delhi Disaster Management Authority. This zone is categorised as a "High Damage Risk Zone" and indicates a high potential for earthquakes of moderate to high intensity. Earlier, on February 17, an earthquake measuring 4.0 on the Richter scale hit Delhi-NCR at a depth of 5 km, according to the NCS. The strong tremors were felt at 5:36 am.
UAE Moments
10-07-2025
- Climate
- UAE Moments
4.4 Magnitude Quake Shakes Delhi-NCR, Sparks Morning Panic
4.4 Magnitude Quake Rattles Delhi-NCR A mild earthquake hit Delhi-NCR on Thursday morning, startling residents and workers during rush hour. Epicenter in Haryana's Jhajjar The tremor, recorded at 4.4 magnitude and 10 km depth, originated from Jhajjar district in Haryana, according to official reports. Tremors were felt around 9:00 AM in Delhi, Noida, Gurugram, and nearby states. Some residents ran out of homes, while office workers noticed shaking fans and swaying furniture.
Hindustan Times
02-07-2025
- Automotive
- Hindustan Times
Delhi man forced to sell Range Rover at 'throwaway prices' due to 10-year diesel ban
A Delhi man says he is being forced to sell his 'meticulously maintained' Range Rover at throwaway prices due to the city's ban on diesel vehicles older than 10 years. Ritesh Gandotra joined hundreds of other Delhiites in calling for a policy rethink, saying Delhi NCR's ban on old vehicles – purportedly to tackle air pollution – does little more than inconvenience honest tax-paying citizens. A Delhi man says he's been forced to sell his Range Rover at a low price (X/@Ritesh_Gandotra) In his post shared on the social media platform X, Gandotra shared a photograph of his Land Rover Range Rover – an SUV currently in its eighth year. His post was shared on July 1, the day that Delhi's ban on providing fuel to end of life vehicles (EoL) came into force. Under this ban, vehicles that have exceeded the life span of 10 years for diesel vehicles and 15 years for petrol vehicles will not be provided fuel at petrol pumps. Delhi man rues 10-year diesel ban In his X post, Gandotra said his Range Rover has only clocked 74,000 km on the odometer. Although it is currently in its 8th year, the car spent two years in the parking lot during the pandemic. The Delhi man described it as a 'meticulously maintained' vehicle that 'easily has over 2 lakh km of life left.' Despite this, Gandotra is being forced to sell the Range Rover at a very low price to buyers outside Delhi NCR. 'But thanks to the 10-year diesel ban in NCR, I'm now forced to sell it — and that too to buyers outside NCR, offering throwaway prices,' he wrote on X. Delhi man slams policy on old cars The Delhi-based executive slammed the policy that forces car owners to sell or scrap vehicles in perfect condition. 'This isn't green policy. It's a penalty on responsible ownership and common sense,' he wrote, adding the hastag #policyflaw. He also noted how buying a new car has become exorbitant, thanks to 45% GST plus cess charges. Gandotra's post echoes the sentiments of thousands of other people who have criticised the ban. One X post, for example, reads: 'Delhi's absurd ELV policy is a brutal scam. Forcing 90% of Indians,scraping by on under ₹ 25K/month, to ditch their cars every 10-15 years is pure extortion.' 'In a country where 90% people are earning less than 25K rs per month, forcing them to sell their cars every 10-15 years is nothing but criminal,' reads another post.
