Latest news with #PLC
Hindustan Times
2 days ago
- Business
- Hindustan Times
Mumbai Real Estate: Developers waive floor-rise premiums to attract buyers amid surging inventory
With housing sales moderating and unsold inventory piling up in the Mumbai real estate market, developers are increasingly adopting aggressive pricing strategies to lure fence-sitters. Mumbai real estate update: With housing sales moderating and unsold inventory piling up in Mumbai, developers are increasingly adopting aggressive pricing strategies to lure fence-sitters. (Picture for representational purposes only)(Mehul R Thakkar/HT) After experimenting with schemes such as 'Buy Now, Pay Later' and subvention plans, some developers are now scrapping the traditional floor-rise premium altogether and offering uniform pricing across all floors. The fierce competition in Mumbai's property market over the past three years has brought back the trend of 'No Floor Rise,' particularly in high-rise projects where supply is abundant. Even Grade A developers, facing intense pressure, have begun eliminating floor-rise charges to stay competitive. As a result, Grade B developers, who previously leveraged floor-rise pricing to boost revenues, are now reversing course, adjusting their marketing strategies in response to the oversupply and expanded choices available to buyers. In contrast, developers in Delhi-NCR continue to charge Preferential Location Charges (PLC) for upper-floor units. Buyers in the region often pay a premium for apartments on higher storeys, especially those offering views of landscaped greens or other desirable surroundings. Also Read: Are Mumbai real estate prices moderating, giving homebuyers more room to negotiate? What is floor rise? Several real estate developers in Mumbai typically charge an additional ₹ 100 to ₹ 500 per sq ft for higher floors, citing advantages such as better views and greater exclusivity. Developers say floor-rise premiums help offset the increased construction costs associated with building higher floors and are likely to remain a standard pricing component. 'Floor-rise charges are a premium that is here to stay, especially in a city like Mumbai. Not only do they help cover the higher construction costs of upper floors, but they also reinforce the status and exclusivity that many buyers associate with elevated living,' said Parthh K Mehta, CMD of Mumbai-based Paradigm Realty. 'However, offering 'No Floor Rise' is an effective promotional tool, attractive for homebuyers,' he said. "The reason this promotional tool has become the new trend of sorts is that it works, both for developers and homebuyers. We have experimented with the 'No Floor Rise' offer in two of our projects in Mumbai at Chembur and Borivali, and we saw a 25% boost in sales for the projects in a month, a noticeably higher impact compared to other recurring promotions," Mehta said. What is the 'Buy Now, Pay Later' scheme? Several Mumbai Metropolitan Region (MMR) developers, including Rustomjee Group, Hiranandani Group, Raymond Realty, Arkade Developers, and Kalpataru, had earlier offered potential homebuyers flexible payment plans, also known as 'Buy Now, Pay Later.' A flexible payment plan allowed potential homebuyers to pay in instalments. Homebuyers paid only 10% or 20% initially, and the rest on possession. This payment plan gained popularity between 2015 and 2019 and was aimed at boosting homebuyer sentiment. However, a few developers in the Mumbai real estate market even permitted homebuyers to move into the apartment after depositing 20% of the cost. The remaining 80% had to be paid in equal instalments over the year from the date of getting possession. Also Read: Mumbai real estate market: Planning to sell a flat in an old building? Here's why it can be tough Is increased competition fuelling the 'No Floor Rise' trend? Developers say that intense competition in Mumbai's real estate market over the past three years has led to a trend of the 'No Floor Rise' pricing strategy. The real estate market in the Mumbai Metropolitan Region (MMR) is extremely dynamic and quite competitive. To stand out from the competition and incentivise prospective homebuyers, developers offer time-bound, strategic deals. Anuj Goradia, director of Dosti Realty, said, 'For our Thane project, we introduced a limited-period 'No Floor Rise' campaign, which significantly boosted sales while still enabling us to maintain overall pricing.' Developers maintain that offers such as 'No Floor Rise' are being made despite strong demand in MMR. "Although the demand for residential real estate in Mumbai is still quite strong, measures such as these can inject vibrancy into a sales cycle, and help certain projects and developers to gain more visibility," Goradia said. Another marketing tactic? According to real estate consultants, the oversupply of high-rise inventory in Mumbai and intense competition, even among Grade A developers, have prompted many to eliminate floor-rise premiums. As a result, Grade B developers, who previously relied on floor-rise charges as a revenue enhancer, are now unable to sustain this pricing in a market flooded with options. In response, they are reversing their marketing strategies and adopting more buyer-friendly pricing models to stay competitive. 'Floor-rise premiums have become rare in Mumbai's Metropolitan Region (MMR) over the past two years, with only a few top-grade developers still able to charge extra for higher floors, and successfully so. However, due to high inventory levels and intense competition, many developers struggle to maintain these premiums. As a result, mid-tier (Grade B) developers, who commanded floor-rise premiums around three years ago before COVID, have largely lost this advantage in today's market,' said Ritesh Mehta, senior director and head (North and West), Residential Services and Developer Initiatives at JLL India. Homebuyers will always pay for the view While the elimination of floor-rise premiums is an emerging trend, developers agree that exceptional views continue to command a premium. In Mumbai's competitive market, apartments on higher floors with breathtaking vistas such as sea views, skyline panoramas, or unobstructed landscapes still attract higher prices compared to mid-level units. 'In a premium market like Bandra in Mumbai, our experience shows that homebuyers are willing to pay a significant premium for higher-floor apartments, especially when these units offer exceptional views such as sea-facing or panoramic sea views. The ability to command a floor-rise premium isn't uniform; it heavily depends on the quality of the view and the overall positioning of the project," said Sharan Babani, promoter of Satguru Builders, which has both sea-view and sea-facing projects in the Bandra area. "In projects where the location and orientation deliver truly outstanding vistas, the value appreciation on higher floors can be substantial. This is something developers and investors must assess carefully on a case-by-case basis," Babani said. Also Read: Mumbai real estate: Is an apartment overlooking the sea more expensive than a sea-view apartment? Read on to find out Mumbai real estate market registration dips Mumbai's real estate market saw property registrations fall by 4% in May 2025, with 11,565 properties registered compared to 12,000 in the same period last year, according to data from the Maharashtra Inspector General of Registration (IGR). However, stamp duty collections increased by 3% in May 2025, totalling ₹ 1,062 crores, compared to the ₹ 1,034 crores collected in May 2024. In terms of month-on-month comparison, April 2025 saw 13,080 properties registered, with stamp duty collections amounting to ₹ 1,115 crore. Residential property registrations continued to dominate in May 2025, accounting for 80% of all registrations in the Mumbai real estate market, according to Knight Frank India, a real estate consultancy firm.
The Hindu
2 days ago
- Business
- The Hindu
3.5 lakh plantation workers still receive only ₹2 per day as DA
As many as 3.5 lakh permanent plantation workers in the State are not receiving adequate Dearness Allowance (DA), according to a Right to Information (RTI) response. The response was given to an RTI petition filed by Karim Ibrahim from Munnar, a plantation worker. According to the reply, there were 87 sections of workers included in the Minimum Wages Act, and only the plantation sector workers were receiving inadequate DA. The plantation workers are supposed to receive ₹87.40 per day as DA. 'However, now the plantation workers are receiving only ₹2 per day as DA whereas the average DA for the other 86 sectors is ₹87.40 per day,' said Mr. Ibrahim. 'For the past 50 years, the DA has not increased for the plantation sector,' he added. To President According to officials, the 3.5 lakh permanent workers from tea, coffee, cardamom, and rubber plantations are part of the plantation sector. 'We submitted a memorandum to the President of India demanding action to increase the DA, who then directed the State government to take steps for this. Based on the direction, the Labour Commissioner as well as the Minimum Wages Advisory Board recommended to raise the DA. However, the Plantation Labour Committee (PLC) meeting on May 15, 2024, decided against this,' he said. 'The PLC is not a statutory committee to make such a decision,' added Mr. Ibrahim. According to workers, the PLC is the final body to make a decision regarding the DA for the plantation sector. 'Representatives of government, Labour Commissioners, trade union leaders, and plantation owners were included in the PLC committee. However, even the trade unions did not advocate for DA raise for the plantation workers,' he said. Price index Sources said that the Economics and Statistics department calculates the DA for plantation workers using a price index. The documents secured from the State Statistics department showed that the basic point based on which the plantation workers' DA is calculated increased from 400 to 3,659 points in the past three decades. However, this was not reflected in the DA, according to sources. High Range Plantation Employees Union (INTUC) president Cyriac Thomas said that in every meeting, the INTUC demanded for a DA raise for the plantation workers in the State. 'We will continue the demand in the next PLC meeting as well,' said Mr. Thomas. The plantation workers are planning to move the Kerala High Court regarding the issue.
Miami Herald
4 days ago
- Health
- Miami Herald
Head to Toe Healthcare Center Expands Shockwave Therapy Services
Head to Toe Healthcare is excited to announce that it is expanding its shockwave therapy services. TUCSON, AZ / ACCESS Newswire / June 17, 2025 / Head to Toe Healthcare, PLC, led by founder and medical director Dr. Alan Shih, has announced the expansion of its shockwave therapy services, bringing globally informed, non-invasive treatment options to more patients in Southern Arizona. This milestone comes on the heels of Dr. Shih's recent participation in the 25th World Congress of the International Society for Medical Shockwave Treatment, held in South Korea. There, he engaged with leading practitioners and researchers to deepen his understanding of the fast-evolving field of shockwave therapy and its growing potential across multiple areas of medicine. "Attending the World Congress was a reminder that the U.S. still has a lot of catching up to do in this space," said Dr. Shih. "In Europe and Asia, shockwave therapy is a standard option for many conditions. I'm committed to bringing those advancements here to Tucson, to evolve faster than the average and offer my patients the best care available." Shockwave therapy, originally developed as a derivative of lithotripsy (a treatment for kidney stones), uses high-energy sound waves to stimulate healing in musculoskeletal tissues. The treatment is completely non-invasive (the skin is not pierced) and has been shown to decrease scar tissue, improve microcirculation, and accelerate recovery times, often without the need for surgery. At Head to Toe Healthcare, Dr. Shih primarily utilizes shockwave therapy to treat chronic conditions such as Achilles tendonitis and plantar fasciitis, but he is also pioneering its use in other challenging cases, including neuropathy, an area of his clinical expertise. One of the most appealing aspects of the treatment is its efficacy. When Dr. Shih recommends that his patients engage in the shockwave procedure, it takes roughly 10-15 minutes, once a week, over a span of four weeks in many cases. "Many report feeling significant relief even after the first treatment. Some have dealt with pain for years, and now they're walking out of here feeling better than they thought possible." According to a recent article by the Journal of the American Medical Association, it usually takes around 17 years for evidence to change practice within the medical field delay Dr. Shih finds unacceptable. "If we wait that long, we're doing our patients a disservice," he said. "My goal is to constantly evaluate what's working globally and bring it into practice today, not tomorrow." With this latest expansion, Dr. Shih and his team are actively pursuing additional applications of shockwave therapy and are focused on refining treatment protocols for neuropathy and other difficult-to-treat conditions. The healthcare center is also gathering ongoing patient feedback to better measure long-term outcomes and push the frontier of what's possible with the therapy. Dr. Shih's dedication to lifelong learning and innovation has earned him praise throughout Tucson's medical community, and his patients are feeling the results. "It's been astonishing to see our patients getting better after treating them with shockwave therapy," says Dr. Shih. "My patients are getting better at a much faster rate without the need for surgery. Some of the people I have treated have been suffering for years, and the use of shockwave has allowed them to feel much better, something they didn't think was possible." "It's been astonishing to see our patients getting better after treating them with shockwave therapy," said Dr. Shih. "We're seeing improvements that would typically take months, if not require surgery, happen within weeks. That's the kind of impact every doctor dreams of making." As Head to Toe Healthcare continues to grow its offerings, Dr. Shih remains focused on one mission: providing effective, evidence-based, and future-forward care for every patient who walks through the door. Media Contact : Dr Alan ShihEmail : hang10@(520) 545-0202 SOURCE: Dr Alan Shih
Yahoo
06-06-2025
- Business
- Yahoo
Land deal would preserve historic Guilford Woods for years to come, Guilford College says
GREENSBORO, N.C. (WGHP) — A historic stretch of land on the campus of a Triad college will never be developed thanks to a new deal. According to Guilford College, the college and Piedmont Land Conservancy have signed a 'memorandum of understanding' to pursue a conservation easement to permanently protect a large swath of Guilford Woods. Guilford College Bryan Series to end after 20-year run The easement would protect 120 acres of land on the Guilford College campus, including a tree known as the ',' a 300-year-old tulip poplar. This deal would ensure that this area, one of Greensboro's last undeveloped woodlands, according to the college, would never be developed, but would remain owned by the college. PLC wants to fund the easement by raising $8.5 million, which would be available to the college by 2028. 'While the proceeds will not be factored in the current $5 million 'For the Good of Guilford' campaign that concludes June 30, the money will be important in Guilford's longer-term financial strategy,' the college writes. The college states that this is an 'ideal solution' for the community and the college, who have 'long sought' a way to support the college and preserve Guilford Woods, which has ecological and historical value to the community. 'Guilford College is proud to be part of this partnership to preserve Guilford Woods,' said Guilford's acting president, Jean Bordewich. 'We are committed to ensuring this beloved Greensboro landscape remains protected and accessible for generations to come.' 'This is a win-win-win for PLC, Guilford College and the greater community,' said Mary Magrinat, incoming PLC board president and longtime community advocate. 'The land will be permanently protected, Guilford College will receive vital financial support for its programs, and the public will gain official access to pristine green space in a rapidly growing part of Greensboro.' In 2017, the federal government recognized the land as one of the earliest documented sites of the National Underground Railroad Network to Freedom, Guilford College states in their release. This easement will connect to Julian and Ethel Clay Price Park, 100 acres that are also protected by PLC, linking it to Greensboro's existing trail network. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
RTÉ News
02-06-2025
- Business
- RTÉ News
Kildare man who was 'lost' in LC finds his way in tech
As thousands of students prepare to sit their Leaving Cert exams, we are hearing from young people who took alternative paths to the CAO points race. In 2020, Kildare native Jack Yeates was not sure what he wanted to do when his time in secondary school wrapped up. Diagnosed with dyslexia as a young child, he knew that taking an academic route after school was not something that he wanted to do. "My idea was always that I wasn't going to be this big academic scholar by any means, but I still wanted to do as best as I could," he said. When he was discussing his options with career guidance counsellors, Jack said that he was more drawn to apprenticeships and community colleges. "I always enjoyed more physical subjects in school, like construction, and it was from that that I was recommended maybe being an electrician or a network site engineer. That's where my focus was." In the year after he graduated from school, Jack worked full time in retail and in September of 2021, he did a Post Leaving Cert course in Advanced Computer Science at St Conleth's Community College in Newbridge. PLC courses usually last one to two years and after Jack completed his year-long course, he began making applications for a two-year apprenticeship in software development. After receiving offers from three companies, Jack began his apprenticeship at Salesforce, a cloud-software company which has its European headquarters based in Dublin. "The PLC was a bit of a shot in the dark," Jack said. "It was something that I got real enjoyment out of and it gave me a broad scope of the industry and I thought 'You know what? Maybe I could make something of myself in this industry'." In August of last year, Jack completed his apprenticeship and won the ICT Apprenticeship of the Year Award the following October. After his apprenticeship ended, Jack was on the lookout for jobs and came across a role in Salesforce, which he felt suited him. He secured the position and began working as a Customer Centric Engineer for the company last February. "I found that the job scope and what they were looking for really suited what I had done in the past, and I believe my apprenticeship stood to me massively," he said. Now, Jack is keen for people to know that exams are not the only option and that there are other paths that can be taken after secondary school. "There were days when a lot of my classmates would be going off to college open days and writing down their dream colleges and dream courses," he said. "It did get a little disheartening at a stage, you do generally feel a little bit lost in that kind of way when you've made up your mind that 'college isn't for me'." "One exam isn't the 'be all, end all' for you," he said. "There's so many doors that can open if you just go looking for them. "Sometimes they won't show to you, you just have to really go and look for them yourself."
