COOL DESTINATIONS NEAR MUMBAI
Cool beans! Cafes are having a field day this summer
National chains such as Third Wave Coffee, Chaayos, AbCoffee, and Boba Bhai have seen a notable increase in foot traffic at their cafes, particularly in northern India, despite the region grappling with record summer temperatures. These cafes are also experiencing increased demand for summer-specific items through delivery services. Also, their appeal as hubs for remote work and meetings is further boosting footfalls.
Data storage cos in a sweat over need to stay cool
Data centers in western and northern India are facing rising operational costs due to soaring temperatures. Firms like Yotta and CtrlS are using alternative cooling methods and renewable energy, while ESDS reports a 10-12% rise in power costs due to erratic grid supply. Several of these data centres are located in New Delhi, Haryana, Noida.
Too hot, too good for e-tailers: ACs, ice creams and beauty products' online sales enjoy the heatwave
Consumers are increasingly turning to online shopping for a variety of products like air conditioners, beauty products, and snacks as heatwaves prompt them to stay indoors, especially during peak afternoon hours. Brands like Voltas and Panasonic have witnessed significant growth in online sales, particularly in the AC category. E-commerce platforms are seeing a surge in demand for large purchases like ACs and coolers, with quick commerce becoming popular for daily essentials. Companies like Parle, Mother Dairy, and Baskin Robbins are experiencing a boost in online sales.
Modi premium for Indian stocks gets a hard look after elections
With the leader now navigating coalition politics after a weaker-than-expected mandate in this week’s national election, the so-called Modi premium is under scrutiny. Investors are looking for proof that Modi can continue his reforms with the same vigor, while balancing the demands of alliance partners and avoiding populist measures to regain public support.
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Travel platforms see bookings hot up for chilly destinations
Travel companies are experiencing a surge in bookings as extreme heatwave conditions drive people to cooler destinations like Kullu, Manali, and Ladakh from Delhi. Flight fares to Leh have increased by 54%, with searches for last-minute escapes also rising.
Mumbai, Delhi-NCR, Bengaluru lead Small & Medium REIT investment prospects
India's fractional ownership property market is projected to grow over 10 times, exceeding $5 billion by 2030, driven by office assets suitable for Small and Medium REIT (SM REIT) investments. Mumbai and Delhi-NCR are top hotspots, with significant opportunities in tech markets. SM REITs offer investors professionally managed, rent-yielding assets.
A Mumbai firm finds a way to reduce container turnaround time from 34 days to 2 days
Backed by Zerodha founders, MatchLog Solutions has found an answer to an issue that has haunted transporters for years.
Mumbai traffic update: Special arrangements in place for PM Modi's event on May 17. Check routes to avoid and other details
Mumbai traffic update: On Thursday, the Mumbai Traffic Police issued a comprehensive advisory for residents of Mumbai regarding potential traffic delays arising from Prime Minister Narendra Modi's 'Jahir Sabha' scheduled at Shivaji Park in Dadar on May 17th. Travelers intending to use air or rail transportation should strategize their journey ahead of time to prevent any inconvenience and ensure timely arrival at their destination.
Best places near Mumbai to escape the summer heat
Lonavala is a popular hill station nestled in the Western Ghats, known for its waterfalls, caves, and scenic beauty. During the summer months, the weather is pleasant, offering a welcome respite from the Mumbai heat. You can go boating on Shirota Lake, explore the Karla Caves,
Luxury housing sale reports 10% growth during Jan-Mach 2024
Luxury segment housing in top cities grows 10% Y-o-Y, Mumbai leads. Anshuman Magazine cites robust fundamentals. Gurgaon emerges as luxury market with eco-friendly features. Jubilee Hills sees luxury demand.
Salman Khan House Firing Case: Who is Vishal, aka 'Kalu', one of the shooters arrested by Mumbai police
Salman Khan House Firing Case: The Mumbai Police arrested two suspects, including Vishal alias Kalu, linked to the Lawrence Bishnoi gang, for firing shots near Salman Khan's residence. Vishal has a criminal history dating back to 2020 and is suspected of involvement in the murder of a bookie. The incident has prompted Maharashtra CM and Mumbai Police Commissioner to upgrade Salman Khan's security to Y+. Anmol Bishnoi, brother of Lawrence Bishnoi, claimed responsibility for the attack, referring to it as a 'trailer.'
Mumbai's elite lap up vacation homes for privacy & exclusivity
Several industrialists, corporate honchos, Bollywood celebrities, and sports stars have been snapping up properties in places like Alibaug, Goa, Lonavala, Khandala, Panchgani, Karjat, and Pawna Lake. On the shopping list are either readymade or under-construction villas, or land parcels to design and build their dream homes.
Privacy, exclusivity drive Mumbai elite towards luxury second homes
Wealthy individuals in Mumbai are buying luxury second homes in picturesque locations like Alibaug and Goa for privacy and exclusivity. Government initiatives improving connectivity are driving real estate development. High-profile figures like Bollywood celebrities and sports stars are investing in these upscale properties, seeking refuge from public scrutiny.
Go Goa! Hospitality players can't have enough of India's favourite holiday destination
As per estimates shared by JLL Hotels & Hospitality Group, India with ET, in 2023, branded hotel openings in Goa recorded an uptick of over 120% and 270% in total number of keys as compared to 2022 and 2019 respectively whereas branded hotel signings in 2023 displayed a 40% growth over 2022
RBI's Paytm bank extension with riders; Mumbai a startup hub?
More payment banks are likely to face regulatory action on allegations of money laundering, following the recent RBI crackdown on Paytm. This and more in today's ETtech Top 5.
Gold near two-month low, investors eye US data for rate cut cues
Gold prices languished near a two-month trough on Thursday as traders lowered expectations of sooner and deeper rate cuts by the Federal Reserve this year, while markets await a slew of U.S. economic data for further clarity.
Defence stocks cool off even as allocation rises in FY25 Interim Budget
Shares of defence-related companies declined due to profit booking after the 2024 Interim Budget speech, which raised allocations for the defence sector. The total capital outlay for defence is now Rs 6.2 lakh crore, an increase of 4.4% from the FY24 budget. The government had previously increased the defence budget by 13.8% to Rs 5.94 lakh crore in FY24. Finance Minister Nirmala Sitharaman also announced a new scheme for strengthening deep-tech technologies for defence purposes.
Trans harbour link, airport to bring more hospitality firms to Navi Mumbai
Hotels of various categories are coming up in and around Navi Mumbai, Panvel, and Khopoli driven by transformative infrastructure projects such as the Mumbai Trans Harbour Link (MTHL) and the forthcoming international airport. Leading hospitality brands are stepping up their presence in the region, with American hotel operator Radisson Hotel Group signing up for hotels in Khopoli and Navi Mumbai.
Atal Setu: PM Modi inaugurates India's longest sea bridge in Maharashtra
Atal Setu: PM Modi inaugurated the Mumbai Trans-harbour link (MTHL) on Friday. Renamed as the 'Atal Bihari Vajpayee Sewari-Nhava Sheva Atal Setu', the bridge was built at a cost of over Rs 17,840 crore. Spanning a length of 21.8 km, the Atal Setu comprises a six-lane bridge, with approximately 16.5 km over the sea and 5.5 km on land. Notably, it is the longest sea bridge in the country.
Atal Setu: How the Trans Harbour Link will transform Mumbai
The Mumbai Trans Harbour Link (MTHL), or Atal Setu, as it'll be called now, links Sewri in Mumbai to Nhava-Sheva on the mainland in Mumbai Metropolitan Region, establishing faster connectivity between the island city of Mumbai and the Navi Mumbai on the mainland, and decongesting the perennially choked metropolis as well as opening new vistas of development.
Mumbai Trans Harbour Link toll rates reduced: When it will be open for public, what vehicles will be allowed, speed limit
The Mumbai Trans Harbour Link: Motorists on the 22-km MTHL face speed limits, reaching 100 kmph for cars, taxis, and buses, dropping to 40 kmph during ascent and descent. Notably, motorbikes, autorickshaws, and tractors are prohibited on the bridge. The toll for a one-way trip is Rs 200 and Rs 300 for a round trip.
Plane with Indians grounded in France over human trafficking lands in Mumbai
The aircraft, an Airbus A340, landed in Mumbai shortly after 4 am. It had taken off from Vatry airport near Paris around 2.30 pm local time.
India giving a push to cruise services with IGST waiver, cruise terminals
The government is giving coastal cruise services a push by offering IGST waiver to luxury vessels converting to coastal run and encouraging setting up of cruise terminals in ports. The near-term goal is to encourage tourists who would otherwise be boarding cruises from Dubai or Singapore to onboard cruises from Indian destinations
Booking.com is bullish on the India opportunity
According to Laura Houldsworth, MD, Asia Pacific at Booking.com, destinations worldwide are now focusing on attracting Indian travelers, as they see potential in this market. Houldsworth believes that India presents a big opportunity due to its large population and the desire for personalization among Indian travelers. Tier two and three cities in India are also gaining popularity as travel destinations.
Buying a vacation home could be your ultimate dream but are you ready for it?
Dreaming about a personal abode in nature’s lap is one thing, but can you fit it within your financial reality? A weekend property will cost a tidy sum. This will eat into a sizeable portion of your savings. Make sure your priorities are right before taking the plunge. Here are the key things you need to consider before buying a vacation home.
Vande Bharat Express completes maiden Mumbai-Madgaon run in 9:30 hrs, reaches destination 24 minutes before schedule
The semi-high-speed Madgaon (Goa)-Mumbai Vande Bharat Express was flagged off virtually from Bhopal by Prime Minister Narendra Modi on Tuesday. The had train completed its inaugural run on the Goa-Mumbai route, a distance of nearly 600 km, in 10:15 hours.
Shah Rukh Khan’s daughter Suhana Khan buys property in Alibaug near Mumbai
The house and structures constructed on the land parcel are spread over a carpet area of 1,750 sq ft, 420 sq ft and 48 sq ft, respectively. The deal was concluded and registered on June 1. She has paid stamp duty of Rs 77.46 lakh for the registration of the transaction, shows the documents accessed through Indextap.com.
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