Archives September 2023

Sony India announces exciting festive offers for Ganesh Chaturthi

Mumbai, 13th September 2023: Sony India is delighted to announce its exclusive festive offers designed to bring customers a delightful shopping experience. With a wide range of lifestyle products, including cutting-edge BRAVIA XR TVs, immersive home theatre systems, high-quality headphones and powerful party speakers, customers can now elevate their living space and entertainment setup at attractive prices. As the season of merriment and togetherness unfolds, Sony India invites customers to partake in the jubilation with exclusive deals on a wide range of cutting-edge electronics as Sony is all set to enhance the joy of Ganesh Chaturthi celebrations with fantastic deals and incredible savings.

Commenting on these festive offers, Shailesh Govind Kulkarni, Mumbai Branch Head, Sony India, said, “During this Ganesh Chaturthi, Sony India is dedicated to spreading joy and delight among our cherished customers. As we embrace the festive spirit, our aim is to provide greater accessibility and affordability to our state-of-the-art products, enabling our customers to immerse themselves in a top-notch entertainment experience. We extend a warm invitation to all to join us in celebrating this Ganesh Chaturthi with Sony and take advantage of these enticing offers.”

1. Purchase BRAVIA XR televisions to enjoy unparalleled entertainment at unbeatable prices

Sony

Loaded with the latest technologies, BRAVIA XR televisions provide a cinematic experience like no other. This festive season, Sony is offering an instant cashback of up to Rs. 20,000/ and a 2-year comprehensive warranty on select BRAVIA TVs. Plus, customers can enjoy EMI schemes on select BRAVIA televisions starting from a s low as Rs.3,995/-. As a bonus, Sony is also offering a unique combo offer of BRAVIA XR televisions along with PS5, bringing a saving of up to Rs.24,000/-.

2. Revolutionize cinema at home entertainment setup with BRAVIA televisions and A series soundbar

Sony 1

To complement their Sony BRAVIA television purchase, customers can now save up to Rs.52,990/- on the purchase of a premium A-series soundbar. With a range of premium soundbar options to choose from, customers can tailor their cinema at-home setup as per their preference and budget.

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Sony India announces exciting festive offers for Ganesh Chaturthi

For audio enthusiasts, Sony presents unbeatable offers on select range of soundbars. The HT-A9, a 7.1.4ch home theatre with wireless speakers, HT-A7000, HT-A5000 and SW5, and HT-A3000 and SW3 models are available at attractive prices along with discounts of up to Rs.8,000/- on purchase of BRAVIA 102cm (40) and above television. Customers can also avail special EMIs starting from Rs. 2,995/- providing customers with the best value for their money.

4. Enjoy unbelievable deals on best Noise Cancellation headphones and earbuds

Sony India

Description automatically generatedSony’s acclaimed WH-1000XM5, the best noise-cancelling headphones and WF-1000XM4 and WF-C700N truly wireless earbuds are now available at a best buy price of Rs 29,990/-, 19,990/- and 8,990/- respectively allowing customers to save up to Rs 5,000/- on headphones and Rs.3,000/- TWS models. Customers can also purchase the INZONE gaming headphones series from Rs. 6,990/- onwards and a special EMI offer starting from Rs.583 per month is also available.

5. Capture memorable moments with never before deals on Alpha cameras

Sony India announces exciting festive offers for Ganesh Chaturthi

Description automatically generated is offering special benefits on Alpha Cameras with a special discount of Rs. 20,000/- available on camera body MRP when purchased with select lenses. Additionally, customers will also get a Pro-Style camera backpack worth Rs. 9,990/- free on the purchase of an Alpha7SIII camera only. Sony is also offering a 2+1-year warranty on select Full-Frame and Cinema Line camera models upon registration on Alpha Community. T&C apply

6. Add excitement to the festive celebrations with great offers on party speakers

Sony India announces exciting festive offers for Ganesh Chaturthi

For those looking to add more excitement to their Ganesh Chaturthi celebrations, Sony’s party speakers are the perfect choice. Sony India recently launched the new SRS-XV800, a speaker built to party with loud and clear sound. SRS-XV800 is specifically sound tuned for India, with powerful bass, omnidirectional party Sound, and X-Balanced Speaker units with 25 hours of battery. It is available at a special price of Rs. 45,990/- plus Rs.3,000/- instant cashback. Customers can also purchase a range of other speakers from Sony and save up to Rs 20,000/- with instant cashback of up to Rs 6,000/-. These speakers are also available at a special EMI of Rs.1,250/-.

7. Avail easy finance offers

Enjoy easy EMIs along with easy finance schemes with no processing fees with select finance partners. Hurry, as these festive offers are valid until 1st October 2023. Customers can visit the nearest Sony Center or authorized dealers to grab these exciting deals and bring home the best of entertainment and technology.

8. Experience robust retail network and service support

Sony India has its footprint across all major touchpoints in Maharashtra with over 1300 retail counters where customers can experience a wide variety of products. Sony India also has a strong service presence in the region backed by a professional team of over 370 service technicians and staff members.

IIM Kashipur Inks MoU with Max Healthcare to launch Programme in Hospital Management :: Media Release

IIM Kashipur Inks MoU with Max Healthcare

Mumbai, 13th September 2023: IIM Kashipur, the leading Indian management institute, hosted an event at its campus on Monday during which a Memorandum of Understanding (MoU)was signed between IIM Kashipur and leading healthcare organization Max Healthcare Ltd. Both organizations decided to launch aPG Diploma programme in Hospital Management to address the increasing demand for trained manpower for the healthcare sector.On this occasion, Prof. KulbhooshanBalooni, Director, IIM Kashipur, and Mr. Umesh Gupta, Senior Director-HR, Max Health Care Ltd., signed the agreement.

The nine-month Post Graduate Programme in Hospital Management will cater exclusively to executives and managers looking to develop and enhance their expertise in hospital operations. Both organizations also decided to conduct joint research, seminars, and other academic collaborations.

Speaking on this occasion,Prof. Kunal Ganguly, Dean (Development), IIM Kashipur said “This collaboration is a milestone for IIM Kashipur to diversify its education offering and contribute to the healthcare sector.” He added that the first such program would be launched by the end of this year at IIM Kashipur, where the classes will be taken by facultyfrom both IIM Kashipur and Max Healthcare,along with the provision of hands-on trainingat the Max hospitals.

According to Mr. Umesh Gupta, Senior Director-HR and Chief People Officer at Max Healthcare Ltd, “In response to the rapid growth of the healthcare industry and increasing demand for skilled operations managers in hospitals, we have meticulously crafted a blended program. This program seamlessly integrates live lectures delivered by distinguished faculty from IIM Kashipur, insights from senior management at Max Healthcare, and cutting-edge e-learning content. This unique blend of knowledge, digital tools, and techniques, combined with hands-on experience gained through immersion at Max Healthcare, equips participants with a comprehensive skill set.”

It is to be noted that India’s healthcare spending as a proportion of GDP is expected to rise to 2.1% in FY23 from 2.2% in FY22 and 1.6% in FY21, according to the Economic Survey 2022-23, and the global healthcare market will expand by 2030. Given the growth of the healthcare industry and the extraordinary demands of skillful operations managers in hospitals, this blended program will help fulfill the increased demandfora skilled workforce in the industry.

IIM Kashipur, a renowned Indian management institute, has climbed from 33rdplace in the NIRF rating in 2021 to 19thplace in 2023 among the top 50 Management Institutes/Colleges in India in the recently released National Institutional Ranking Framework (NIRF)-2023 ranking by the Ministry of Education. Also, this year, the highest annual salary offered at IIM Kashipur, was Rs 37 lakh, with an average cost to the company (CTC) of Rs 18.11 lakh, as reported in an official statement from the institute.
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Jatin Shah Returns to the Screen as Vansh Agnihotri in Shemaroo Umang’s ‘Gauna Ek Pratha’

Jatin Shah,

Shemaroo Umang’s popular show, “Gauna Ek Pratha,” has been captivating its viewers with its engaging storyline. The show revolves around the journey of Gehna as she tries to win her husband back, all while facing challenges posed by the affluent and haughty Urvashi. Amidst the unfolding drama, a new character named Vansh Agnihotri, skilfully portrayed by the talented actor Jatin Shah, has made an entry into the series.

Jatin Shared his excitement of coming back on screen, “I took a break after my last show to be with my daughter and explore my interest in filmmaking. During this time, I delved into the basics of the craft and even created some films for my YouTube channel. While I received offers during my break, it was Vansh Agnihotri’s character that truly resonated with me.

He further talks about his role,” Vansh’s arrival promises to bring a wave of change to the lives of Gehna, Gaurav and Urvashi. The character is unlike anything I have played before – intense, mysterious, and a man of few words. Vansh has a complex past that has made him reject the very concept of love, yet he holds deep respect for the values of family.

With Jatin’s entry as Vansh Agnihotri, viewers can anticipate some intriguing twists in the plot of the show. Make sure to watch Gauna Ek Pratha on Shemaroo Umang every Monday to Saturday at 9 PM to witness the compelling drama, challenging moral decisions, and surprising turns.
Monday to Saturday.

DevX to Set Up Deakin University India Campus in Gift City

DevX

Ahmedabad, 13th September 2023DevX, Gujarat’s largest Managed Office Space provider, today announced that it will be setting up Deakin University’s India campus in GIFT City. Having partnered with Nila Infrastructure for the construction, DevX will conceptualize, design, build and deliver the state-of-the-art futuristic 25,000 Sq. Ft. University campus. JLL India, facilitated the entire transaction for Deakin University and empowered their decision-making process by providing a detailed and valuable secondary research in addition to their first-hand experience of transacting in GIFT City, in the past.

Speaking on the occasion, Mr Umesh Uttamchandani, Co-Founder – DevX, said, “We at DevX are proud to create the Deakin University India campus project in GIFT City. We stand committed to deliver a world-class, state-of-the-art campus that can easily accommodate the aspirations of a global university. Being deemed worthy to plan & execute a designated project of national importance is a testament to DevX’s proven capabilities to seamlessly deliver high-quality projects, services and client-delight.”

Commenting on the India campus, Ms Ravneet Pawha, Vice President (Global Alliances) and Chief Executive Officer (South Asia), Deakin University, says, “Deakin University has a long and proud history in India, in fact, we were the first international university to establish its presence in India in 1994, and since then, we have forged a bond based on commitment, excellence, trust and transparency. Our approach has always been ‘in India, with India, for India’ and as our University prepares to celebrate its 50th anniversary in 2024, opening a new Indian campus marks an exciting new chapter. This is an historic opportunity to deepen our engagement with one of the world’s fastest-growing economies and open up access to our world-class education and pathways, delivered in India by Deakin alongside our industry partners.”

Putting it in perspective, Mr Deep Vadodaria CEO, Nila Infrastructure, said, “We are excited to announce that Deakin University has signed to start their operations at our premises at GIFT City. Our partnership with DevX has proven to be extremely valuable in providing a complete managed office space solution to the end user”

Karan Sodi, Senior Managing Director – Mumbai Metropolitan Region & Gujarat, JLL, said, “We take pride in witnessing the fruition of our partnership with Deakin University, which marks a significant milestone as they enter GIFT City. This collaboration highlights our expertise, market insights, and practical knowledge, empowering Deakin University to become the inaugural international institution to establish operations within this vibrant ecosystem. We’re excited about the fresh opportunities this venture brings to the real estate market, anticipating a surge in demand across various property offerings. These encompass student housing, retail establishments, commercial spaces, and amenities tailored to the evolving needs of the student community. This collaboration provides an optimal platform for capitalizing on the growing demand, fostering innovative and future-proof solutions that will shape the future of GIFT City. We’re very enthusiastic about the potential that lies ahead and eagerly anticipate participating in this transformative journey.”

As Gujarat’s largest Managed Spaces provider, DevX also provides, round the year, a platform for industry, academia, professionals and companies to hold hackathons, seminars, events etc…to address trends and issues. The company is planning to further expand and thus consolidate it’s pan-India presence by 2023 end.

IndiaRF Announces INR 525 Crores Investment in Ivy Health and Life Sciences Private Limited

Mumbai, India |13th September 2023: India Resurgence Fund (IndiaRF), a leading India-focused investment platform promoted by Piramal Enterprises Limited and Bain Capital, today announced an investment of INR 525 crores in Ivy Health and Life Sciences Private Limited (Ivy). Following the transaction, IndiaRF has become the majority shareholder of Ivy.

The deal marks IndiaRF’s maiden investment in the healthcare sector and the first of its kind in the regional hospitals segment in North India.

As part of the transaction, IndiaRF shall acquire Ivy’s NABH-certified facilities at Mohali, Amritsar, Khanna, Hoshiarpur and Nawanshahr. The transaction also includes a sizeable infusion of growth capital which will help further improve the breadth and quality of patient care services offered by Ivy’s existing facilities as well as expand its footprint to other cities in Punjab and adjoining regions.

Founded by Mr Gurtej Singh and Dr Kanwaldeep Kaur in 2008, Ivy has grown to become the largest corporate chain of NABH-certified hospital facilities in Punjab. These facilities have a combined capacity of nearly 800 beds and offer comprehensive multi-specialty care and procedures for patients, not just from Punjab but also from neighboring areas of Himachal Pradesh, Haryana, and Jammu. The Ivy network treats over 300,000 patients a year. Ivy has demonstrated resilient growth over the last few years, despite facing challenges posed by the COVID-19 pandemic.

Commenting on the investment, Shantanu Nalavadi, Managing Director of IndiaRF, said, “Post Covid, there’s significant emphasis on providing localised healthcare in the form of multi-speciality regional hospital networks. Deepening insurance penetration has further augmented this shift as patients are increasingly looking for high quality healthcare closer to home. Consequently, these networks are also witnessing significant investor interest. Ivy clearly stands out as truly aligned with this theme. Ivy has demonstrated its prowess as a regional healthcare provider catering to all segments by providing quality medical services at affordable prices. We are excited to invest in Ivy and are committed to accelerate its growth with continued focus on delivering quality patient care.”

Gurtej Singh, Chairman and Managing Director of Ivy Hospitals, added, “What started as a vision to make quality healthcare, affordable and accessible in Punjab turned to a reality with Ivy becoming the largest healthcare group in the State of Punjab with 3000+ healthcare professionals tirelessly servicing the patients from Punjab and beyond. We were the initial movers in this space who believed in the vast untapped potential for quality healthcare in the region, and I am excited to embark on this new journey with IndiaRF, with a common shared vision for the future. I believe that the vast experience and resources available with IndiaRF will empower Ivy with cutting edge technologies, thereby bringing huge benefits to the patients of the region. We sincerely believe that this partnership with IndiaRF will create tremendous value creation opportunities for all employees, doctors, and other stakeholders.”

O3 Capital acted as the exclusive financial advisor to IndiaRF and Unaprime Investment Advisors acted as the exclusive financial advisor to Ivy on this transaction.

KLH Hyderabad Campus Students Clinch Gold Medals in the 3rd National Fin Swimming Championship

KLH Hyderabad Campus Students

New Delhi,13th September 2023: KLH Hyderabad Campus of KL Deemed to be University is immensely proud to announce the outstanding achievements of its students in the field of sports. Twin brothers Y Charles Wesley and Y Charles Finney, students at the KLH Aziznagar campus have brought home four gold medals from the 3rd National Fin Swimming Championship held in Pune recently.

Wesley, who is a second-year B. Tech Computer Science student, bagged three gold medals in the 50-meter underwater, 100-meter, and 200-meter surface swimming events. Additionally, he won a bronze medal in the 50-meter surface swimming. His brother Finney, who is also pursuing a B. Tech program, secured a gold medal in the 400-meter bifins style event.

Both students hail from Andhra Pradesh and are recognized as child prodigies in sports. The twins draw their inspiration from their father, Y Nageswara Rao, who is a national champion in taekwondo. The young athletes have expressed their desire to represent India on international platforms and aim for participation in the Olympics. They believe that this accomplishment is just a stepping stone towards greater achievements.

The championship was organized by the Underwater Sports Federation of India, a non-profit charitable sports development organization. The event, held over three days, saw participation from more than 30 states, including union territories. The federation is committed to promoting underwater sports, specifically finswimming, scuba diving, lifesaving sports, among others, across various strata of society.

“Our university has always been a fertile ground for nurturing talents in academics as well as sports. The exceptional performance of Wesley and Finney is a testament to that, said Dr. G. Pardha Saradhi Varma, Vice Chancellor of KL Deemed to be University. Their accomplishments not only add glory to our institution but also set a benchmark for what young minds are capable of achieving when provided with the right environment and support. Our aim is to empower sports students through financial and essential support while producing top-tier athletes from the university who can achieve laurels for the country at the national and international levels.”

The twins extend their gratitude toward the university and also express special thanks for the scholarship support they have received. ‘We are immensely grateful to our university and faculty for helping us find the perfect balance between our studies and sports. The scholarships we’ve received serve as financial support, helping us focus on excelling in both areas. This support and customized approach to our education allow us to do well in class and in the pool. Of course, we also owe a lot to our parents and academy; they are the guiding force that helps us achieve these milestones,’ said Wesley, speaking on behalf of the duo.”

Under the leadership of Management, Principal, Dr. A Ramakrishna along with the dedicated support from the sports coaches and faculty members, this campus ensure that its students receive an unparalleled combination of academic and athletic opportunities.

With these wins, the students have not only brought accolades to the University but also added another feather in the cap of Andhra Pradesh’s sporting achievements. Their triumph serves as an inspiration for other students to pursue excellence in sports along with their academics.

ZEE5 Intelligence Monitor launches new report on Quick Delivery Services (QDS)

ZEE5 Intelligence

13th September 2023: ZEE5, India’s largest home-grown video streaming platform and multilingual storyteller for entertainment seekers, has unveiled the new edition of its intelligence monitor which signifies key trends and insights within the Quick Delivery Services (QDS) segment. This comprehensive research highlights the emergence of Quick Delivery Service (QDS) apps as a revolutionary force in the consumer landscape, reshaping buying trends across both metro and non-metro regions with last-mile access to everyday goods and services. Additionally, it sheds light on the growing preference of today’s women for QDS apps.

ZEE5’s Intelligence Monitor on the Quick Delivery Service segment offers valuable insights for marketers and businesses, paving the way for pioneering initiatives to target potential audiences and navigate this dynamic industry. The report further suggests that the ratio of metro users as compared to non-metro users of QDS apps stand at 53:47, which is drastically evolving in the post-pandemic era. The QDS ecosystem is witnessing a phenomenal rise in demand on the back of the emergence of individual consumers as a user category.

Key highlights of the QDS report:

  • 66% of consumers use QDS apps every week, whereas 54% of women engage with QDS apps every week
  • 1 out of 2 consumers rank convenience as the top reason for using QDS apps
  • 79% of non-metro respondents have tried a QDS app; whereas 61% of non-metro respondents are regular users
  • 38% of users find comfort in shopping from the privacy of their homes
  • 59% of users make personal care purchases on QDS platforms
  • 44% of consumers use QDS apps to pick and drop packages within the city
  • 78% of respondents have tried a QDS app
  • 56% of respondents display high loyalty to QDS apps

On the release of the ZEE5 Intelligence Monitor QDS report, Rajiv Bakshi, Chief Operations Officer – Revenue, ZEE Entertainment Enterprises Limited, said, “The appeal of doorstep delivery is the main draw for QDS apps, but trust and privacy also play a role. Women users benefit uniquely from time-saving, and QDS apps are on the verge of nationwide adoption, especially among non-metro users. ZEE5 Intelligence Monitor – Quick Delivery Services (QDS) is the latest edition undertaken to identify trends, map behaviours and deliver actionable insights into consumer’s attitudes towards products and services across categories. In the digital age, QDS apps empower women and promise future innovations for businesses. This report, with its data depth and creative capabilities, offers QDS players a great opportunity to communicate their value effectively.”

The report suggests that India’s digital evolution is taking a new turn, with next-gen consumers as well as non-metro users embracing Quick Delivery Service (QDS) apps. This trend underscores the importance of customization for regional success such as specialized product categories and localized delivery strategies, which strongly resonate among diverse preferences, offering an edge in this dynamic landscape. Innovations in the QDS ecosystem, empowering small brands and reshaping grocery shopping among smaller-town consumers driven primarily by convenience and time-saving opportunities.

ZEE5 Intelligence Monitor is a pioneering effort to bring industry-specific consumer insights based on research conducted by one of India’s largest entertainment platforms, ZEE5. Aimed at aiding business leaders and marketers in their decision-making, in addition to tracking consumption and buying habits, this research also provides an insider view on factors that influence consumers’ purchase decision process. The report also showcases varied point of view and nuanced perspectives from leading brands and experts from the broader marketing ecosystem.

Sushant Singh dons a new look for the upcoming season of Savdhaan India

Sushant Singh

In the world of Indian television, Sushant Singh is a name that needs no introduction. His charismatic presence and commendable acting skills have earned him a special place in the hearts of millions of viewers. However, it’s not just his acting prowess that has been garnering attention lately; it’s his striking salt and pepper look in the promo of the new season of “Savdhaan India” with the new theme titled Criminal Decoded that has everyone talking.

“Savdhaan India,” known for its gripping narratives and socially relevant stories, has been a staple on Indian television for years. Sushant Singh has been associated with the show as its host for a considerable time, and his contribution to its success cannot be understated. However, in the latest season, Sushant has undergone a transformation that has piqued the curiosity of both his fans and the general audience.

The most noticeable change in Sushant Singh’s look will be his salt and pepper beard and hair. This distinguished look exudes a certain maturity and sophistication that perfectly complements the show’s serious and thought-provoking themes.

Commenting on his new look, the actor says, “”Our show has been a constant presence and a dominant force in Indian television since 2012. The introduction of the salt and pepper look brings an extra dimension of authenticity and gravitas to my role as the host of the show. I am confident that our dedicated viewers, who have stood by us throughout these years, will appreciate not only my new appearance but also the upcoming season.”

Ahead of Hindi Diwas, Idanim unveils Hindi language in its app to make meditation accessible to everyone

New Delhi, 13th September 2023 Idanim, an Indian-origin mental wellness and meditation app has introduced guided meditations in Hindi on the occasion of Hindi Diwas. Launched in 2022, Idanim offered 1000+ meditations across 40+ categories in English. However, one of the most requested features on the app has been meditations in Hindi.

To celebrate the app’s commitment to inclusivity and accessibility, Idanim has decided to launch new meditations in Hindi across its most popular categories. These guided meditations address a wide variety of challenges faced by individuals like stress, insomnia, lack of focus, anger, and more.

Ahead of Hindi Diwas

“India is known for its spiritual heritage and has long recognized the incredible benefits of mindfulness and meditation. Today, there is a growing demand for meditation content that resonates with the Indian audience. We have seen it ourselves in the user feedback we receive on our app. To cater to these needs and preferences, we’ve tailored our offerings and are thrilled to introduce a new library of Hindi meditations.” said Raman Mittal, Co-founder of Idanim.

Idanim has collaborated with experienced meditation instructors who understand the cultural nuances and spiritual traditions of India, ensuring an authentic meditation experience. Users can access and download these guided meditations to practice anytime & anywhere.

Last month the company also introduced a kids meditation category, designed specifically for children aged 4 to 8 years, Idanim strives to inculcate good values and habits in kids through mindfulness. With the introduction of this exciting new category, Idanim aims to provide young minds with the tools they need to develop a lifelong practice of mindfulness, leading to improved focus, emotional well-being, and overall mental health.

68.5 percent of tenants across India expressed interest in double and triple sharing PGs: Magicbricks

Magicbricks

New Delhi,13th September 2023– The demand for PG accommodations in India is on the rise, driven by a confluence of factors, including the presence of educational institutions, business hubs, and urban job opportunities. According to “Exploring the current landscape of PG accommodation in India”, a flagship report by Magicbricks, in the fiscal year 2022-23, NCR represented 24% of the total demand for accommodation and 25% of the total supply, and Bengaluru closely followed, contributing to 23% of the demand and 17% of the supply. In the Mumbai Metropolitan Region, the demand and supply for PG accommodation accounted for 16% each.

The report further observed that 68.5% of tenants across India expressed interest in double and triple sharing PGs while approximately 71% of PG listings on the Magicbricks platform featured double occupancy or larger setups. Monthly rents for triple-sharing accommodation is INR 4,800-7,700, double-sharing accommodations charge INR 6,800-10,000 per month and rents for single occupancy PG rooms are between INR 6,800-15,200 per month. Further, approximately 55% of the demand was for PGs catering to both men and women.

According to Sudhir Pai, CEO, Magicbricks “The demand for PG accommodations in India is intricately tied to the rapid urbanization and the pursuit of better education and career opportunities. Cities with a high concentration of students and working professionals have witnessed a surge in the PG market. At the same time, with 52% of India’s total population being millennials, the demand for affordable and convenient accommodations such as PGs is expected to continue its momentum in the medium to long term. Another key driver of the growing popularity of PG accommodations is their cost-effectiveness. Rising rents in major cities have led tenants to seek alternatives, and PGs offer a more affordable option.”

For real estate investors, PG accommodations are becoming lucrative as the rental yields have far outstripped those in the conventional housing market. While rental returns have remained stagnant at 2-3% within the conventional housing market, paying guest accommodations offer 50% – 75% more yields, accompanied by comparably lower risks.

The report concluded that while demand and supply for PG accommodations generally aligned in most cities, there were deviations in some regions. For instance, Greater Noida faced a shortage of single occupancy PGs by 11.6%, while demand for double occupancy PGs exceeded supply by 10.4%. Cities like Thane and Kolkata experienced a demand for triple sharing PGs that was 7-9% higher than the available supply.