The State Consumer Commission reportedly ruled that homebuyers can claim compensation for deficiencies in service even after property possession or completion of the conveyance deed
The complainant found the flat to be in a dilapidated condition, necessitating substantial renovation expenses. (Representative/Shutterstock)
In a significant development, the State Consumer Disputes Redressal Commission in Delhi issued an important judgment in favour of homebuyers. The commission overturned the District Commission’s decision, which had dismissed a woman’s complaint solely because she was not a consumer at the time of filing. The State Consumer Commission ruled that an individual has the right to seek compensation and claim damages for deficient services from the builder or developer even after possession.
According to media reports, the State Consumer Commission stated, “Compensation can be sought for deficiency in services even after taking possession of the property or completion of the conveyance deed.”
The bench comprising State Commission Chairperson Justice Sangeeta Dhingra Sehgal and Judicial Member Pinki allowed the appeal of the applicant, Madhubala. Furthermore, the Commission set aside the District Consumer Commission’s decision on her complaint dated February 28, 2020.
The appellant, a resident of Indrapuri, filed a complaint under Section 12 of the Consumer Protection Act. She stated that a flat had been allotted in her husband’s name in 1996. However, following his demise, she encountered significant challenges in obtaining possession of the property. Upon finally gaining possession in 2019, she found the flat to be in a dilapidated condition, necessitating substantial renovation expenses. To recover these losses, she filed a case with the Consumer Commission, seeking compensation of Rs 20 lakh.
The State Consumer Commission addressed the case which required it to determine whether the complainant qualified as a consumer under the Consumer Protection Act, 1986, and whether the District Commission had erred in dismissing her appeal.
In its decision, the State Commission ruled that the District Commission incorrectly rejected the appellant’s complaint. The District Commission’s basis for dismissal was that the appellant, having taken possession of the flat, was no longer a consumer. The State Commission deemed this erroneous and remanded the case to the District Consumer Commission for further proceedings.
Newsbusiness Homebuyers Can Sue Builders For Poor Quality Flats Even After Possession, Says New Ruling
Experts said that the rise of electric vehicles presents a tremendous opportunity for MSMEs in India
Scaling EV rental services faces challenges such as the limited charging infrastructure and high upfront costs. (Representative image)
As India moves towards a greener future, the electric vehicle (EV) sector is quickly becoming a key player in the country’s growth trajectory. With growing investments, technological innovations, and government incentives, the rise of EVs presents a wealth of business opportunities, especially for Micro, Small, and Medium Enterprises (MSMEs). Experts weigh in on the challenges and opportunities that lie ahead.
Avesh Memon, Founder & CEO of Rilox EV; Rajeev YSR, CEO of Thunder Plus and Group CMO at ETO Motors; and Rahul Nain, Director of Business Operations at Luxorides, provide diverse insights into the EV sector. Their perspectives highlight the critical role of infrastructure, policy, innovation, and collaboration in unlocking the potential of electric mobility for MSMEs in India.
Building the Charging Infrastructure: A Key Challenge for Widespread EV Adoption by 2025
Avesh Memon points out that creating a robust EV charging infrastructure by 2025 is no small feat. The need to balance scalability with accessibility is critical, especially in rural areas where infrastructure could be underserved. Additionally, the strain on power grids, requiring upgrades and better peak demand management, must be addressed. “Collaboration between the public and private sectors is essential,” he says, emphasising that modular charging systems and universal standards can help overcome these hurdles.
Memon also believes that government policies and incentives will play a crucial role in boosting EV adoption. The introduction of subsidies under schemes like FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) has already made EVs more affordable, and continued support will further stimulate demand. By promoting local manufacturing and incentivising private investments, the sector can reach its potential by 2025.
Supporting the Growth of Affordable EVs: Balancing Quality, Innovation, and Affordability
With the rise of affordable EVs, companies like Rilox EV are focused on balancing innovation with cost-effectiveness. Memon explains that by localising supply chains and integrating cutting-edge technologies like IoT and AI, the company has managed to optimise vehicle performance while keeping costs low for the consumer. “Innovation, affordability, and sustainability drive our vision for the future,” he says, highlighting their strategy of modular designs that allow for easy upgrades without compromising on quality.
Sustainability and Carbon Emission Reduction: Aligning with Global Goals
Rajeev YSR, CEO of Thunder Plus and Group CMO at ETO Motors, stresses that India’s EV transition must contribute meaningfully to reducing carbon emissions. “Adopting clean energy sources for EV charging is paramount,” he says, noting that integrating solar and wind power into the grid will ensure that EVs contribute to emission reductions. YSR also advocates for localised manufacturing of EV components, including batteries, to reduce the environmental impact of imports.
State governments also have a critical role to play, especially in Tier-2 and Tier-3 cities. YSR suggests that localised incentives, decentralised charging networks, and public transport electrification programs can accelerate EV adoption in these areas, making EVs more accessible and affordable to a wider population.
Encouraging R&D in Battery Technologies: A Path to Sustainability
To make EV batteries more sustainable and reduce dependence on rare earth materials, YSR highlights the importance of R&D into alternative battery technologies. “Sodium-ion and solid-state batteries present viable alternatives,” he says. Policymakers, he argues, should incentivise collaborations between academic institutions, startups, and industry leaders to drive breakthroughs in battery recycling and second-life applications.
Business Opportunities for Rental Companies in a Shared Mobility World
With urban populations shifting towards shared mobility, rental companies are tapping into new opportunities. Rahul Nain, Director of Business Operations at Luxorides, explains that car rental services are evolving to meet the growing demand for eco-friendly and affordable travel. “With more consumers opting for shared mobility over ownership, companies like ours are diversifying fleets to include electric and hybrid vehicles,” he says.
However, Nain notes that scaling EV rental services faces challenges such as the limited charging infrastructure and high upfront costs. To address these concerns, Luxorides is focusing on educating customers about the benefits of EVs and alleviating range anxiety. Partnerships between rental companies and public transport systems could play a crucial role in accelerating EV adoption. “These collaborations can provide last-mile connectivity, making green travel solutions more accessible and affordable,” Nain adds.
An Ecosystem of Innovation, Policy, and Collaboration
The rise of electric vehicles presents a tremendous opportunity for MSMEs in India, from manufacturing and infrastructure development to R&D and rental services. The future of mobility is not only green but also offers multiple avenues for business growth and innovation. The road ahead will require collaboration between the public and private sectors, focused policies, and technological advancements, but the shift to a sustainable, electric future is well within reach.
Newsbusiness Rise Of Electric Vehicles In India: Experts See Business Opportunities For MSMEs
The Indian economy is estimated to grow at 6.4 per cent in 2024-25 against 8.2 per cent in the previous fiscal year
The projection is lower than the recent Reserve Bank estimate of 6.6 per cent for the current fiscal year ending March 2025.
India’s economic growth rate is estimated to slip to a four-year low of 6.4 per cent in 2024-25, mainly on account of poor showing by the manufacturing and services sector, according to government data released on Tuesday.
The gross domestic product (GDP) rate of 6.4 per cent will be the lowest since the Covid year (2020-21) when the country witnessed a negative growth of 5.8 per cent. It was 9.7 per cent in 2021-22; 7 per cent in 2022-23; and 8.2 per cent in the last fiscal ended March 2024.
The first advance estimates of National Income for 2024-25 released by the National Statistics Office (NSO) is lower than the 6.6 per cent projected by the Reserve Bank in December 2024. It is also a tad lower than the finance ministry’s initial projection of 6.5-7 per cent.
The advance estimates will be used in preparation for the Union Budget to be presented by Finance Minister Nirmala Sitharaman in the Lok Sabha on February 1.
Aditi Nayar, Chief Economist and Head – Research & Outreach, ICRA, said, “The NSO’s FAE for India’s GDP and GVA growth of 6.4% each in FY2025, is slightly lower than our forecast of 6.5% each, led by mining, manufacturing, and services.”
Nayar added that the NSO has effectively implicitly pegged the growth in the GDP and GVA for H2 FY2025 at 6.7% and 6.6%, respectively, “a mild 10-20 bps lower than our projections for the same.”
“In our view, the GDP growth in FY2026 will be crucially influenced by global uncertainties as well as domestic uncertainties, amidst considerable base effects. Benefitting from an anticipated capex push in the upcoming Budget, we project the GDP growth at 6.5% in FY2026.”
The manufacturing sector output is expected to decelerate to 5.3 per cent from a high of 9.9 per cent recorded in the previous fiscal, NSO said in the first advance estimates of National Income for 2024-25.
The services sector, comprising trade, hotels, transport and communications, is estimated to expand at 5.8 per cent against 6.4 per cent in 2023-24.
On the other hand, the farm sector is estimated to record a growth of 3.8 per cent in the current fiscal, up from 1.4 per cent in 2023-24.
“Real GDP has been estimated to grow by 6.4 per cent in FY 2024-25 as compared to the growth rate of 8.2 per cent in Provisional Estimate (PE) of GDP for FY 2023-24,” NSO said.
Nominal GDP has witnessed a growth rate of 9.7 per cent in 2024-25 over the growth rate of 9.6 per cent in 2023-24.
According to the data, nominal GDP (GDP at current prices) is estimated to attain a level of Rs 324.11 lakh crore in the year 2024-25 against Rs 295.36 lakh crore in 2023-24, showing a growth rate of 9.7 per cent.
The size of the economy, as per the current estimates, is USD 3.8 trillion (@ Rs 85.7/USD) during 2024-25.
Further, the nominal Gross Value Added (GVA) is estimated to attain a level of Rs 292.64 lakh crore in 2024-25 against Rs 267.62 lakh crore in 2023-24, showing a growth rate of 9.3 per cent.
Private Final Consumption Expenditure (PFCE) at constant prices has witnessed a growth rate of 7.3 per cent during 2024-25 over the growth rate of 4 per cent in the previous financial year.
Government Final Consumption Expenditure (GFCE) at Constant Prices has rebounded to a growth rate of 4.1 per cent compared to the growth rate of 2.5 per cent in the previous fiscal.
Key Highlights:
Real GDP has been estimated to grow by 6.4% in FY 2024-25 as compared to the growth rate of 8.2% in Provisional Estimate (PE) of GDP for FY 2023-24.
Nominal GDP has witnessed a growth rate of 9.7% in FY 2024-25 over the growth rate of 9.6% in FY 2023-24.
Real GVA has grown by 6.4% in FY 2024-25 over the growth rate of 7.2% in FY 2023-24.
Nominal GVA has shown a growth rate of 9.3% in FY 2024-25 as compared to the growth rate of 8.5% in FY 2023-24.
Real GVA of Agriculture and allied sector has been estimated to grow by 3.8% during 2024-25 as compared to the growth of 1.4% witnessed during the last year, i.e., 2023-24.
Real GVA of ‘Construction’ sector and ‘Financial, Real Estate & Professional Services’ sector has been estimated to observe good growth rates of 8.6% and 7.3%, respectively during the FY 2024-25.
Private Final Consumption Expenditure (PFCE) at Constant Prices, has witnessed a growth rate of 7.3% during FY 2024-25 over the growth rate of 4.0% in the previous financial year.
Government Final Consumption Expenditure (GFCE) at Constant Prices, has rebounded to a growth rate of 4.1% as compared to the growth rate of 2.5% in the previous financial year.
Newsbusiness » economy India’s Economy To Expand 6.4% In FY25, Lowest in Four Years: Government Data
Mumbai registered the highest residential sales in the affordable segment among eight cities across the country
Residential sale in Mumbai recorded at 96,187 units in 2024. (Representative image)
Knight Frank India, in its flagship report – India Real Estate- Office and Residential Market (July – December 2024) cited that Mumbai remained the largest residential market in the country, leading in residential sales among all metros. The city recorded sales of 96,187 primary residential units in 2024, marking a 13-year high with an 11% YoY growth. In H2 2024 alone, 48,928 units were sold, reflecting a 6% YoY increase.
The report presents an analysis of the residential and office market performance across eight major cities; Mumbai, National Capital Region (NCR), Bengaluru, Chennai, Hyderabad, Pune, Ahmedabad and Kolkata.
Developers leveraged the strong sales momentum by introducing new supply to the market, resulting in a 4% YoY increase with 96,470 new units launched in 2024—the highest since 2014. In 2024, the average residential prices rose by 5% YoY over 2023. The sustained demand of buyers supported this price growth and kept the momentum ongoing.
Residential Market Update 2024: January – December 2024
Mumbai, recognised as India’s financial hub, thrives on its robust economic ecosystem as a centre for finance, commerce, and industry. Complemented by transformative infrastructure projects like the Mumbai Coastal Road, Metro Line 3, and the Mumbai Trans Harbour Link (MTHL), the city continues to strengthen its position as the nation’s premier real estate market.
Mumbai’s residential market sustained its strong performance, recording the highest half-yearly sales volume since H1 2012. The latter half of 2024 saw a 4% increase in sales compared to the first half, primarily fuelled by heightened demand during festive seasons like Navratri, Dussehra, and Diwali. These festivals traditionally drive real estate activity through positive market sentiment, further bolstered by developers introducing new projects and offering appealing payment plans.
Peripheral regions, such as the Central Suburbs and Thane, dominated launches and sales in H2 2024, attracting buyers with more affordable prices and enhanced lifestyle options.
Home Price Ticket Categories
In 2024, a substantial portion of properties transacted in Mumbai fell within the <5mn category. However, the share decreased from 45% in 2023 to 43% in 2024. Notably, there was a shift towards the category of Rs 10 mn – 20 mn category, with its share increasing to 20% as opposed to 17% in 2023, while the category Rs 20 – 50 mn saw a shift with its share increasing from 6% in 2023 to 10% in 2024.
Amongst all the eight cities in the country, Mumbai led the residential sales for the ticket size segment of Rs 200 – 500 mn and >500 mn. The highest percentage growth in the city’s residential market was observed in the ticket size segment of Rs 200 – 500 mn, with an annual growth of 143% YoY to 192 units during 2024 from 79 units in 2023.
The sales in Rs 50 – 100 mn category grew by 112 % YoY to 1,866 units, and Rs 100 – 200 mn grew by 68% YoY to 360 units in 2024.The largest sales volume ticket size which saw sales of 41,146 units has recorded a growth of 6% in its sales base of 39,093 units during 2023 and has contributed about 43% of total sales in the city. The highest decline was observed in the price segment of above 500 mn segment at 60% from 255 units in 2023 to 101 units in 2024.
Gulam Zia, Senior Executive Director, Research, Advisory, Infrastructure and Valuation, Knight Frank India said “Mumbai’s residential market continues its steady growth, driven by sustained demand for premium housing and transformative infrastructure developments. While elevated QTS levels in higher ticket sizes require careful monitoring, the market’s robust fundamentals provide stability and long-term growth prospects. Key infrastructure projects like the Mumbai Coastal Road and Metro Lines have greatly improved connectivity, fuelling demand in suburban areas. These advancements inspire confidence in the market, benefiting both buyers and developers alike.”
Price change in 2024
Mumbai experienced a 5% annual growth in residential prices, reaching a record-high weighted average price of Rs 8,277 per sq ft. This also marks the highest weighted average price among the eight cities in the country. Central Mumbai and South Mumbai micro market saw maximum residential price appreciation of 8% and 7% respectively.
According to Bet365 records for FY March 2024, Denise Coates earned Rs 950 crore in salary and Rs 550 crore in dividends, totaling Rs 1,500 crore annually. This amounts to Rs 4 crore earned every day
Denise Coates’ company Bet365 is currently the world’s largest online gambling platform. (News18 Hindi)
An Englishwoman started a small company in 2000 from a small car park. Currently, her company has grown huge in size, earned a lot of money, and has employed 8,500 people so far.
This woman has also amassed such wealth that people are astonished when they hear about it. However, people condemn her as well, because her company is a gambling platform, where millions of people earning small incomes try their luck and lose money.
Denise Coates’ company, Bet365, is currently the world’s largest online gambling platform. Denise Coates is currently one of the richest women in Britain.
In 2024, she earned Rs 1,500 crore (about £150 million) from her company, Bet365. This income is her personal income, not that of the company. However, her salary is less than last year. Coates’ total wealth has exceeded Rs 20,000 crore ($2 billion) in the last seven years.
According to the records submitted by Bet365 in the financial year (FY) ended March 2024, Denise Coates received a salary of Rs 950 crore from the company. Apart from the salary, she received half of the total dividend of Rs 1,100 crore. This took her total annual income to Rs 1,500 crore. Calculated daily, her earnings amount to more than Rs 4 crore per day.
In the last decade, Denise Coates has earned an income of about Rs 24,000 crore (£2.4 billion). When Covid-19 emerged in 2020, online gambling increased significantly. In the same year, she earned a record-breaking Rs 4,690 crore. Obviously, such a huge earning also caught the attention of Denise Coates’ critics.
Denise’s family also plays a significant role in this company. Her brother, John Coates, is the joint chief executive and a major shareholder in the company. Apart from this, the Coates family also controls Stoke City Football Club. Its stadium is named after Bet365.
While Bet365 has made a fortune, it is not untouched by controversies. In 2020, Denise’s father, Peter Coates, donated Rs 25 lakh (£25,000) to British Prime Minister Keir Starmer (Labour Party). After this, serious questions were raised in political circles about both Starmer’s party and the platform. In 2023, the company was also fined Rs 5.82 crore (£582,000) for lapses in customer safety and failure to prevent possible money laundering.
Location :
United Kingdom (UK)
Newsbusiness This Woman Earns Rs 4 Crore Daily. But Why Do Some Despise Her?
