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Luxury housing averts slowdown in realty sector

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According to a JLL report, approximately 45,000 luxury housing units were launched in financial year 2016 with the top nine cities constituting 21 per cent of the total residential launches.

Bengaluru leads the list with 30 per cent of luxury home launches followed by Mumbai which comprised 17 per cent of the launches across India. Bengaluru also leads in luxury home sales constituting 29 per cent of the total in financial year 2016 followed by Mumbai reporting 16 per cent of sales. Pune comes third with 15 per cent of sales. In total, 47,000 luxury units were sold in the top nine cities accounting for 17 per cent of the total residential sales in the country.

"Evidently, the much-hyped gloom and doom story is vastly exaggerated. Media stories – which predicted that luxury housing in India is finished – lost sight of the fact that luxury housing caters to a specific segment of demand which, like the demand for budget and mid-income housing, has not gone away. India’s wealthier home buyers still want high-class homes with all the bells and whistles of sophistication in great locations," said Ashwinder Raj Singh, CEO (residential services) of JLL India.

Vivek Singhal, spokesman of M3M Group, echoed a similar sentiment. "The share of luxury housing in the overall housing market may come down marginally. However, this is due to the overall increase in the housing market size. With rapid GDP growth, India is poised to become a $4-trillion economy in the next five-seven years. This will result in substantial increase in the number of millionaires and HNIs, driving the demand for luxury housing. However, luxury housing requires a high level of meticulous planning, positioning, and branding of projects," Singhal said.

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Concrete

CCU testbeds in Tamil Nadu

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Tamil Nadu is set to host one of India’s five national carbon capture and utilisation (CCU) testbeds, aimed at reducing CO2 emissions in the cement industry as part of the country’s 2070 net-zero goal, as per a news report. The facility will be based at UltraTech Cement’s Reddipalayam plant in Ariyalur, supported by IIT Madras and BITS Pilani. Backed by the Department of Science and Technology (DST), the project will pilot an oxygen-enriched kiln capable of capturing up to two tonnes of CO2 per day for conversion into concrete products. Additional testbeds are planned in Rajasthan, Odisha, and Andhra Pradesh, involving companies like JK Cement and Dalmia Cement. Union Minister Jitendra Singh confirmed that funding approvals are underway, with full implementation expected in 2025.

Image source:https://www.heavyequipmentguide.ca/

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Concrete

JSW Cement gears up for IPO

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JSW Cement has set the price range for its upcoming initial public offering(IPO) at US$1.58 to US$1.67 per share, aiming to raise approximately US$409 million. As reported in the news, around US$91 million from the proceeds will be directed towards partially financing a new integrated cement plant in Nagaur, Rajasthan. Additionally, the company plans to utilise US$59.2 million to repay or prepay existing debts. The remaining capital will be allocated for general corporate purposes.

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Concrete

Cement industry to gain from new infrastructure spending

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As per a news report, Karan Adani, ACC Chair, has said that he expects the cement industry to benefit from the an anticipated US$2.2tn in new public infrastructure spending between 2025 and 2030. In a statement he said that ACC has crossed the 100Mt/yr cement capacity milestone in April 2025, propelling the company to get closer to its ambitious 140Mt/yr target by the 2028 financial year. The company’s capacity corresponds to 15 per cent of an all-India installed capacity of 686Mt/yr.

Image source:https://cementplantsupplier.com/cement-manufacturing/emerging-trends-in-cement-manufacturing-technology/

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