Latest news with #Non-ResidentIndians
Hindustan Times
2 days ago
- Business
- Hindustan Times
DLF sells out Phase 1 of Mumbai debut project: 20% buyers are NRIs from Mumbai, penthouses sold for ₹70,000 per sq ft
Delhi-NCR-based real estate major DLF has said that 20% of homebuyers for its debut premium residential project in Mumbai, The WestPark in Andheri West, are Non-Resident Indians (NRIs), primarily those originally from Mumbai. The company has also secured bookings from members of the Bollywood fraternity. Mumbai real estate update: Delhi-NCR-based real estate major DLF has said that 20% of homebuyers for its debut premium residential project in Mumbai, The WestPark in Andheri West, are Non-Resident Indians (NRIs), primarily those originally from Mumbai. (Picture for representational purposes only)(Pexels) DLF revealed on July 25 that it has sold out all four towers launched under Phase 1, generating sales bookings worth ₹2,300 crore. The project was officially launched on July 17. 'We have around 20% homebuyers who are NRI but originally from Mumbai. Our teams visited places like Kuwait, the US, UK, and Singapore, where we received several bookings from NRI homebuyers,' said Aakash Ohri, Joint Managing Director and Chief Business Officer, DLF Home Developers Ltd. Ohri said that DLF also received bookings from homebuyers based in South Mumbai, Pune, Nanded, Gujarat, and other regions. 'We've also had four to five bookings from the Bollywood fraternity,' he confirmed, though he declined to reveal specific names. Initially, the company launched two towers comprising part of the 416 apartments available in Phase 1. However, due to high demand, two additional towers were released, leading to a 'complete sellout' of the phase. "The second phase launch will now be looked into, and we will work on getting approvals for the second phase. We look forward to launching the second phase next year around this time." Ohri said. Speaking on the difference between homebuyers in Mumbai and Delhi-NCR, Ohri noted that Mumbai buyers tend to be more personally involved in the homebuying process. He said that they are not only seeking the signature DLF lifestyle, but are also specifically looking for larger-sized apartments. "We received feedback that we should have bigger 3 BHK apartments, and in the next phase, we will work towards it," Ohri said. According to the company, the entire project is spread across 10 acres and will feature a mix of 3 BHK and larger apartments ranging from 1,125 sq ft to 2,500 sq ft. In the first phase, apartments are priced between ₹37,500 and ₹54,000 per sq ft. However, Ohri said that the company managed to sell the penthouses in the project at a price of ₹70,000 per sq ft.' Also Read: DLF sells all 416 luxury apartments worth ₹2,300 crore in its debut Mumbai project More projects in the Mumbai real estate market According to Ohri, the company has already received a few proposals for more projects in the Mumbai real estate market. "We already have a few proposals, but nothing is concrete for now. Anybody can send proposals that way, but for now, we have to go to the board and inform them about our Andheri progress, followed by the further strategy for the next phase in Andheri," Ohri said. Goa launch According to Ohri, DLF plans to enter the Goa real estate market with its first project, which will feature luxury villas priced above ₹50 crore. 'In the coming months, our focus will be on launching these ultra-luxury developments,' he said. Also Read: Mumbai real estate: All you need to know about the Andheri West real estate market as DLF launches its first project All about its Mumbai real estate market project On July 17, DLF, in partnership with Trident Realty, launched 416 apartments in four towers in the Andheri West area of Mumbai. The companies will invest nearly ₹900 crore to develop this luxury housing project. The development will also include 845 dedicated car parking spaces, along with separate visitor parking facilities. The project will feature a 50,000-square-foot clubhouse equipped with many amenities, including a wellness hub, yoga studios, meditation decks, co-working spaces, lounges, and several other lifestyle facilities. The company had said that the development will comprise eight architecturally distinctive towers. The first phase will introduce four towers, each 37 storeys high and offering a total of 416 residences. Also Read: DLF's Mumbai debut: Adopts cautious project pricing aligning with Andheri West real estate market rates The homes include a select mix of spacious 3-and 4-BHK residences ranging from 1,125 to 2,500 sq ft, along with a limited number of penthouses.
New Indian Express
2 days ago
- Business
- New Indian Express
NRIs are Andhra's brand ambassadors: AP IT minister Lokesh at Singapore diaspora meet
VIJAYAWADA: HRD, IT and Electronics Minister Nara Lokesh described Non-Resident Indians (NRIs) as the State's brand ambassadors and urged them to promote Andhra Pradesh as a top investment destination. Speaking at the Telugu diaspora meet organised by APNRT at the OVIS Auditorium in Singapore, Lokesh emphasised the critical role of NRIs in rebuilding the State after five years of stagnation under the previous YSRCP regime. He said the coalition government, under Chief Minister Nara Chandrababu Naidu's leadership, is working to put Andhra Pradesh back on track. He also emphasised alignment with Prime Minister Narendra Modi's leadership, promising to recover the State's losses from the past five years, with interest. Lokesh highlighted global trust in the 'CBN Brand' as a magnet for investments. Citing official data, he noted that in the financial year 2024–25, India received $81.04 billion in Foreign Direct Investment (FDI), with Singapore accounting for approximately $14.94 billion, 19% of the total. He expressed confidence that directing a substantial share of these funds toward Andhra Pradesh could help transform it into a global economic hub, similar to Singapore. The minister invited NRIs from Singapore, Malaysia, Thailand, Vietnam, the Philippines, Hong Kong, and Indonesia to invest in the State, assuring support through the Economic Development Board (EDB) for startups and industries.
Mint
2 days ago
- Health
- Mint
NRIs turning to India for high-quality quality affordable healthcare, customers up 150% YoY in FY25: Report
New Delhi [India], July 28 (ANI): Non-Resident Indians (NRIs) are increasingly choosing India as their destination for high-quality and affordable healthcare, according to the data released by Policybazaar. The data showed a significant 150 per cent growth in the share of NRI customers in FY 2024-25 compared to FY 2023-24, highlighting India's growing appeal in the global medical tourism space. It stated, "India is fast emerging as one of the world's most sought-after medical tourism hubs. The growth is quite visible with more NRIs turning to India to access high-quality healthcare. Our data indicates a 150 per cent overall growth in the share of NRI customers in FY 25". One of the key reasons behind this mentioned in the data report is the surge is the massive cost advantage India offers for medical treatments when compared to countries like the United States and the United Kingdom. For instance, heart bypass surgery in India costs between USD 5,000 and USD 8,000, while the same procedure in the U.S. can cost between USD 70,000 and USD 150,000. Similarly, a knee replacement surgery costs only USD 4,000 to USD 6,000 in India, compared to USD 30,000 to USD 50,000 in the U.S. A liver transplant in India is priced between USD 25,000 and USD 35,000, whereas it costs USD 300,000 to USD 500,000 in the U.S. NRIs opting for elective procedures in India typically have average claim amounts ranging from USD 2,000 to USD 15,000. For more complex surgeries, the claims may rise to USD 20,000 to USD 40,000, still representing considerable savings when compared to international healthcare costs. The affordability factor also extends to health insurance premiums. In India, the average annual health insurance premium per person ranges from USD 120 to USD 300. In contrast, the same coverage in the U.S. can exceed USD 8,000 annually, while in GCC countries, it ranges from USD 4,000 to USD 5,000. This significant difference has led to a visible increase in online searches by NRIs exploring health insurance options in India for themselves and their families. The data further reveals a 125 per cent surge in the share of women NRI customers and a 148 per cent increase in the number of NRI customers under the age of 35. This showed that younger NRIs and women are increasingly considering Indian healthcare as a preferred choice. When it comes to preferred locations for treatment, South Indian cities continue to dominate the list across all tiers. Cities like Mumbai, Kolkata, Pune, and Thane are also gaining popularity among NRI patients. With a combination of quality care, advanced medical infrastructure, and substantial cost benefits, India is rapidly emerging as a leading hub for NRI medical needs. (ANI)
Hans India
3 days ago
- Business
- Hans India
Grand welcome for Naidu in Singapore
Singapore: Chief Minister N Chandrababu Naidu received an exceptionally warm and enthusiastic welcome upon his arrival in Singapore on Sunday, marking the beginning of his five-day official visit to the island nation. The Chief Minister and his accompanying ministerial delegation were greeted by a vibrant assembly of the local Telugu community, industrialists, Non-Resident Indians (NRIs), and representatives from APNRT. As the Chief Minister's convoy made its way from the airport to his hotel, Telugu families residing in Singapore lined the route to extend their felicitations. The display of cultural pride was evident with women in traditional attire offering ceremonial 'Harathi' and children performing lively Kuchipudi dances, adding a festive air to the Chief Minister's reception. The area surrounding the CM's hotel buzzed with activity, transformed into a celebratory hub by the presence of numerous Telugu families eager to convey their heartfelt greetings. During his comprehensive five-day visit, the Chief Minister is scheduled to participate in a total of 29 engagements, underscoring the importance of this tour for fostering stronger ties and attracting investments to Andhra Pradesh.
Hindustan Times
3 days ago
- Politics
- Hindustan Times
CET Cell notifies new guidelines for international quota admissions
The Maharashtra State Common Entrance Test (CET) Cell on July 25 launched a dedicated web portal for the admission of international category students, including Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs), Persons of Indian Origin (PIOs), Children of Indian Workers in Gulf Countries (CIWGC), and Foreign Nationals (FNS), for the academic year 2025-26. All recognised universities, colleges, and institutes offering seats under NRI and supernumerary quotas have been directed to strictly follow the new process. (Sanchit Khanna/HT PHOTO) Following an amendment to the definition of NRI under a new ordinance, effective from June 25, authorities have revised the eligibility criteria and documentation process for NRI quota admissions. Under the new definition, NRIs include individuals classified as 'not ordinarily resident' under the Income Tax Act and those possessing an NRI certificate issued by an Indian Mission abroad. Their children or wards are covered under this category. The newly-launched admission portal, will centralise applications for international category students seeking admission to technical, medical, higher education, and fine arts programmes across Maharashtra. All recognised universities, colleges, and institutes offering seats under NRI and supernumerary quotas have been directed to strictly follow the new process. Institutions will receive unique login credentials to access student applications, verify eligibility, and publish merit-based admission lists. Admission will be finalised only after fee payment in USD, physical verification of original documents, and confirmation through the portal. Candidates can receive multiple offers but are allowed to confirm only one seat. Failure to pay within deadlines will result in cancellation of the allotted seat. The CET Cell will issue provisional eligibility certificates (PECs) to eligible candidates to support visa applications. However, final admission will be subject to document verification by the concerned institute. Colleges are also required to assist admitted students in completing immigration formalities within 14 days of joining, and to ensure uploading of required medical reports, residential proof, and accommodation details. 'The CET Cell has launched a portal for the registration of 'Foreign National' candidates, and has provided a link for registration. From this year, candidates who were born outside India and whose parents reside in a foreign country will be considered under the NRI category. The definition of NRI has been revised accordingly. As per the new criteria, the candidate must be born outside India and their parents must be currently living abroad. This is now a mandatory rule,' said Jayant Patil, OSD, CET Cell. He further said that in the previous years, some candidates were granted admission under the 'Foreign National' category by naming their relatives living abroad as dependents. This provision has now been strictly discontinued. For registration, candidates will be required to pay a non-refundable fee of $50. Once registered, the candidate will be sent an offer for admission. To confirm the admission, a further fee of $1,150 must be paid. 'Earlier, it was observed that some candidates who did not score well in the CET exam would still gain admission to top institutions like COEP by applying through the 'Foreign National' route. This practice will now be completely stopped,' said Patil.
