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The Hindu
a day ago
- Business
- The Hindu
Gurugram beats Mumbai in luxury housing
The seeds of urbanisation that were sown in the sleepy town of Gurgaon (now Gurugram) in the early 90s are now bearing fruit. Today, Gurugram, located in the Delhi National Capital Region (NCR), has become the abode of top corporations due to its affordable commercial real estate and high-quality infrastructure, which compares favourably to Mumbai's commercial hubs. It has now rivalled the maximum city in terms of luxury residential real estate. Legend had it that in those days, Gurugram farmers sold their land to real estate developers and bought Ferraris. Today, that land is minting gold. What started as a hub of call centres and malls, has now become the nerve centre of the economy, housing top corporates like Air India, IndiGo, Maruti, JSW MG Motors, and Hyundai, to name a few. Gurugram has even dwarfed Delhi in terms of real estate pricing and quality of life, prompting many to relocate. Now, the Haryana city has emerged as a challenger to Mumbai and, in fact, has surpassed the western metropolis in terms of the number of luxury homes sold in a year, though India's commercial capital still rules in per rate and in transaction ticket size. 'Gurugram has become the abode of luxury homes priced above ₹5 crore each. The average size of Gurugram apartments has increased from 1,800 to 2,600 and with this, the ticket size of apartments has crossed ₹5 crore, making it the top destination for luxury homes,' said Samir Jasuja, MD, PropEquity, a real estate analytics firm that has conducted research on the trend. In 2024, about 79,000 luxury homes were sold in Gurugram, which is about 50% of all luxury homes sold in India. In Mumbai, about 33,000 units of luxury homes were sold that year, according to PropEquity data. Prefer larger homes In Gurugram — like in most of North India — people prefer larger homes, and thus the price per unit has gone up, while in Mumbai, due to high property prices, local developers offer apartments of smaller sizes, which is the reason behind Gurugram stealing the show. The people who are buying luxury homes in Gurugram include NRIs, HNIs, investors and end-users like CXOs working in top Indian and multinational companies. 'Employment generation, proximity to Delhi airport, great infrastructure and superior construction have led to demand for luxury homes in Gurugram, leading to price escalation,' Mr. Jasuja said. He said the demand momentum would continue as people are getting richer and seeking high-quality living. For example, DLF Ltd. — India's top real estate developer,responsible for modernising and urbanising Gurugram — sold 1,100 units in its DLF Camellias project, which is priced over ₹9 crore each, in one week recently. In tune with the demand, almost all developers have now shifted their focus to luxury homes, as the return is far better than in other segments of housing. The price appreciation in Gurugram has been phenomenal compared to Mumbai, which is a landlocked city. As per PropEquity data between January 2020 and April 2025, the property prices in Gurugram appreciated by 113.26%, while it was only 42.30% in Mumbai in the same period. In the period between January 2015 and April 2025, property prices in Gurugram appreciated 181.72%, while it was a mere 30.42% in Mumbai. In 2020, the weighted average price per was ₹10,090 in Gurugram, while it was ₹25,981 per sq ft in Mumbai. In 2021, it dropped to ₹8,756 per in Gurugram, while it increased to ₹27,417 per in Mumbai. In 2022, 2023, 2024 and 2025, the weighted average price increased to ₹12,802, ₹15,294, ₹17,733, and ₹21,518 per respectively, in Gurugram. While in Mumbai, it rose to ₹29,793, ₹32,834, ₹34,282 and ₹36,970 per respectively. Gurugram might have stolen the thunder in terms of the average size of luxury apartments, but Mumbai still commands the highest price in terms of per rate. In Gurugram, the highest price was about ₹1,90,000 per whereas in Mumbai, it was ₹2,50,000 per 'These are one of the transactions, but in general, Gurugram has arrived,' Jasuja said. In 2024, the demand for luxury homes in Gurugram increased 66% to nearly ₹1.07 lakh crore as per PropEquity's estimates. Areas like Golf Course Road are witnessing a surge in ultra-luxury housing as the city, which has transformed into a major corporate hub, is attracting professionals from all over, including Mumbai. P. Pandey, a long-time Mumbai resident, shifted base to Gurugram post-COVID for work. So did F. D'Souza. Both are seeking premium living, fuelling the demand for luxury homes. Santhosh Kumar, vice chairman of ANAROCK Group, said Gurugram has undoubtedly seen a surge in activity in ultra-luxury properties, with both demand and new supply seeing a significant jump over the last few years. As per Anarock Research, back in Q1 2023, as many as 1,920 units were launched in the ultra-luxury category priced at ₹2.5 crore in the city, while in Q1 2025, the new supply in this category increased to 7,610 units – a whopping 296% jump in the last two years, he said. Meanwhile, in mainland Mumbai, the new supply of ultra-luxury homes in Q1 2023 exceeded Gurugram's back then, with approximately 2,110 units. However, in Q1 2025, new supply in this budget category was nearly 4,900 units – at least 55% lower than in Gurugram, he added. 'This is essentially because post the pandemic, we are seeing high demand for luxury homes, and developers who previously refrained from launching projects in this category are now coming forward,' Kumar said. Rise in demand He said due to steadily rising demand, new supply in the ultra-luxury category by large and listed developers has increased substantially. Developers are seen cashing in on the rising demand. One of the major beneficiaries of the changing trend is real estate company Signature Global (India), which has a large presence in Gurugram. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd., said only in the last five years has the city emerged as the epicentre of premium housing. Its status as a corporate hub has led to significant internal migration from various parts of Delhi NCR and neighbouring states, thereby fuelling sustained demand for quality housing, he said. Key hotspots such as Dwarka Expressway, Southern Peripheral Road, Sohna, and South Gurugram have witnessed a steady rise in property prices. This growth has been largely driven by rapid infrastructure development, improved connectivity across Delhi-NCR, and a growing demand for high-quality residential spaces from both end-users and investors, Aggarwal said. Mumbai's enduring appeal Meanwhile, Mumbai's developer community does not accept Gurugram's ascent. According to Manju Yagnik, Vice Chairperson, Nahar Group, and Senior Vice President, NAREDCO Maharashtra, while Gurugram has certainly seen a surge in the number of luxury housing transactions, 'Mumbai remains unequivocally the crown jewel of India's luxury real estate market — not just in terms of legacy, but also in value.' 'In 2023 alone, Mumbai recorded luxury home sales worth over ₹38,000 crore, with average prices in prime locations like South Mumbai, BKC, and Juhu ranging from ₹85,000 to ₹1.5 lakh per — nearly three to five times higher than luxury rates in Gurugram,' she said. 'What sets Mumbai apart is not just the price tag but the deep-rooted aspirational value, global investor interest, and scarcity-driven demand. It's a land-constrained city with a coastline, heritage zones, and limited vertical expansion, which continues to drive price appreciation,' she said. 'Even though Gurugram may have surpassed Mumbai in transaction numbers temporarily, Mumbai continues to lead in total value, per square foot pricing, and long-term capital appreciation — making it the true epicentre of India's luxury real estate landscape,' she said. Amit Vakharia, VP Projects, Ashar Group, known for the redevelopment of late actor Dilip Kumar's bungalow at Pali Hill in Mumbai, said that though the number of luxury housing transactions had gone up in Gurugram, Mumbai still 'remains and retains the gold standard in value, prestige, and per-square-foot supremacy'. 'With luxury residences in Malabar Hill, Bandra, and Worli often selling for over ₹1 lakh per sq. ft., and individual transactions ranging from ₹50 crore to over ₹200 crore, the city reflects a market led by HNIs and UHNIs who seek branded and well-located addresses,' he said. He added that Mumbai offered more than homes; it delivers a legacy of heritage, unmatched connectivity, panoramic sea views, and direct access to India's financial capital. 'As other luxury landscapes evolve, Mumbai continues to set the benchmark for value, aspiration, and investment confidence in Indian luxury real estate,' he said. MUMBAI Leena Gandhi Tewari, chairperson, USV Ltd, has reported bought two luxury duplex flats for ₹639 crore in Worli. The duplexes, spreading across four floors, cover a total area of 22,572 The price works out to ₹2.83 lakh per making it perhaps the costliest residential deal in India. Tanya Dubas, Executive Director of Godrej Industries Group and daughter of Adi Godrej, through Shaula Real Estates Private Ltd, has purchased a duplex apartment for ₹225.76 crore in Worli. With a total built-up area of 11,485 sq ft, the per prices work out to ₹1.97 lakh. In October 2024, Shreegopal Kabra, promoter of RR Kabel and his family, purchased two luxury apartments in Worli for ₹198 crore. The apartments spread over 13,809 sq ft, translating into a price of ₹1,43,000 a
ITV News
a day ago
- Automotive
- ITV News
US actor Kelsey Grammer goes 'supercar shopping' in Middlesbrough
Hollywood star Kelsey Grammer took a look around a supercar showroom on Teesside during a recent visit to the area. The US actor, known for starring in the hit TV series Frasier, called into Acklam Cars in Middlesbrough. The multiple Emmy and Golden Globe winner posed for pictures with staff, while perusing the selection of Ferraris and Lamborghinis on offer. Grammer has links to Teesside, with his wife Kayte Walsh hailing from Hartlepool. The 70-year-old is known for his love of cars, and already owns a range of prestige vehicles.
Sky News AU
2 days ago
- Business
- Sky News AU
2GB host Ben Fordham says smokers 'handing money' to criminals amid Australia's growing illicit tobacco market
A radio host has warned criminals will continue to thrive from the illicit tobacco market, as smokers turn to cheaper alternatives due to the government's high cigarette excise. The current tobacco excise rate in Australia is approximately $1.40 per stick and $2158.65 per kg of tobacco content, an increase of 2.7 per cent from the previous period. The average price of a packet of cigarette in 2025 is about $40, but smokers are seeking cheaper, black market options, which can cost just $15 a pack. 2GB host Ben Fordham said smokers were funding the lives of criminals. "We're just handing money to people," he said. "We're buying people Lamborghinis and Ferraris and sending them on first-class holidays around the world the rest of their lives. It's a free kick (for the criminals)." British American Tobacco's chief corporate officer, Kingsley Wheaton, said Australia was in the middle of a "national crisis" which had seen the tobacco war explode in streets, with numerous shops firebombed in an underworld tussle for control of the lucrative market. Mr Wheaton, who had heard about the boom of the illegal cigarettes from London, was left stunned about what he has seen and heard first-hand while in Sydney. "At the end of the day, 55 per cent of the market is illicit cigarettes," he said on 2GB. 'That mean that Australia is up there with Malaysia and South Africa as the most illicit markets in the world. It's a big problem because the government is losing revenue." Mr Wheaton added eight out of 10 consumers of nicotine are being served by criminals. The issue also expands to vapes, which have sharply grown in popularity in recent years. Mr Wheaton said the "only winner" from the government's high excise are those in the underworld. "I believe police and local states are doing a great job, but that's not enough," he said, adding a cut to the tax on cigarettes was the only solution. "A revision to the 2018 rates, raise more government revenue for the Treasury, reduce the amount of illicit (tobacco) and get the marketplace back into responsibility." Earlier in June, Treasurer Jim Chalmers said combating illicit tobacco was a 'real challenge', but suggested cutting the excise was not the right move. 'I am not convinced that cutting the excise on cigarettes would mean that would be the end of illegal activity,' he said. Health Minister Mark Butler recently said lowering prices would not do any good, claiming most countries with lower-priced cigarettes have a "burgeoning black market". Their opinions differ to their fellow Labor counterpart, New South Wales Premier Chris Minns, who urged the federal government to consider lowering the excise. "We need to have a look at how big this excise is, how it's driving illegal tobacco sales in our community," Mr Minns said earlier this month. "And is it the best use of NSW Police time to be devoted to tobacco sales, when in the end the federal government's not getting the excise that they thought — they're not getting that tax that they would get from that massive increase." Treasury has forecast an almost $7 billion loss for the federal government by 2029 as more people turn to the illegal market for their nicotine addiction. In March, the government pledged $156.7 million to help law enforcement agencies, such as the Australian Border Force, in hopes of combatting the growing issue. In September last year, the ABF said it seized more than 45 million illegal cigarettes and 6,500 kilograms of tobacco in five days in Sydney and Melbourne. Officers detected them in 10 separate sea cargo consignments that were shipped in from China, the United Arab Emirates, Singapore, India and Vietnam. The total estimate value is more than $75 million.
Hindustan Times
3 days ago
- Entertainment
- Hindustan Times
F1 movie review: Turbo-charged Brad Pitt, crazy realism make this film Formula Fun
F1 movie review Cast: Brad Pitt, Damon Idris, Javier Bardem, Kerry Condon, Kim Bodnia, Sarah Niles, Tobias Menzies, and Callie Cooke Director: Joseph Kosinski Rating: ★★★.5 What makes a perfect film, or rather just a good film? Is it all the things that make it a work of art? Good screenplay, nice pacing, great performances, and technical aspects, that whole gamut. Or is it just how it manages to entertain you, even if it clings to the tropes and templates that purists scoff at? Joseph Kosinski's IMAX-sized adaptation of Drive To Survive (raises sarcasm sign) lies somewhere in between. F1 is a fun film. On the big screen, it is an experience, bringing the best aspects of Top Gun and Rush into one film. But it is also very predictable and templated, following the tropes to the letter. Yet, the overall experience never feels jaded or old. The packaging of this old wine is in a sparkling new bottle. And boy, will that help it sell big! F1 movie review: Brad Pitt plays ageing racer Sonny Hayes in the film. Sonny Hayes (Brad Pitt) is a washed-out racing driver whose best days are behind him. He raced in Formula One in 1993 as a promising rookie before an accident ended his career. In his 50s now, he lives in a camper van and drives in any series he can find, however small. His life takes a turn when his former F1 teammate, Ruben Cervantes (Javier Bardem), meets him. Now the owner of a struggling F1 team - Apex - he wants to hire Sonny as his second driver for the remainder of the season. Ruben believes that Sonny's experience can help his rookie, Joshua Pearce (Damon Idris), do better. The team has never scored points in their F1 history, and Ruben knows that if they don't win one race this season, he will be forced to sell the team. Enter a reluctant Sonny, who brings his world of experience. But he has personal demons to battle, and an antagonistic Joshua to befriend, before they can dream of the chequered flag. F1 has one of the most basic plots ever. The time-tested battle against the odds and the rules, the underdog story. It shows how the weakest team in F1 uses all the resources at their disposal and some street-smart thinking to compete with the Ferraris and the Red Bulls on track. Even before the film begins, you know how it's going to end. But the fun of F1 is not in not being able to predict what is going to happen next. You already know that, sometimes right down to the cheesy line of dialogue that comes up. But the real fun is in the journey, and how Joseph Kosinski presents it. F1 is an experience, marrying top-notch cinematography with some exhilarating racing action. If the filmmaker honed his craft filming fighter jets in Top Gun, he has perfected his love for speed here. There are countless moments in the film that make your jaw drop and elicit audible gasps. That is all a sports film needs to do. In the final moments, even though you know how it must pan out, you wait with bated breath as the drama unfolds. A film that can draw loud cheers in one scene, and can inspire pin-drop silence in another, has clearly connected with the audience. Brad Pitt was born to play Sonny Hayes. His irreverent charm, carefree candour, and swagger make him a cross between James Hunt and Mick Jagger, essentially making Sonny the cliched likeable ass****. Damon Idris deserves credit for playing the cocky rookie with panache too, and Javier Bardem brings his trademark mix of depth and humour as the team boss. But among the rest of the cast, the only standout performer is Sarah Niles, who delivers the film's standout moment in a confrontation with Brad Pitt's Sonny. The roadblocks Much has been said about F1's treatment of its women. There are three impactful female characters in the film. Apart from Sarah Niles (who plays Joshua's mother), the other two are part of the Apex GP team - Kate McKenna, the APXGP technical director (Kerry Condon) and Jodie, an APXGP mechanic (Callie Cooke). It is puzzling that while telling the story of a sport that infamously sidelines women, F1 chooses to portray the woman mechanic as the underconfident, bumbling fool. Sure, she gets a redemption arc, but was it too much to not show the only woman crew member as 'out of place'? Similarly, the film starts out well by showing Kate as a confident woman, the first female technical director in F1, only to have her end up as the 'romantic interest' by the end. Yes, there are more layers to her character, but the choices Kosinski and screenwriter Ehren Kruger make for the women in F1 are baffling. F1 gets one thing right, something many racing teams fail at. That, essentially, all of motor racing is a team sport. It is never about one man rising above the limitations of his car and winning. That may make for a great story, but it is far from realistic. F1 gets that realism on! It involves the intricacies (and often stupidities) of Formula One's rules and regulations, and makes good use of the politics of F1 too. The film is as close to a real Formula One film as we can get, with Verstappen winning, women thirsting after Sainz, and rookies crashing. Of course, an American on the podium immediately tells you this is Hollywood and not real life. The film also makes sure to downplay heroism while not sacrificing any of the drama. There is enough happening that will never happen on an F1 track. But this film makes that believable. The hot-and-cold camaraderie between Sonny and Joshua is pivotal to it all, bringing a very real-world parallel of the teammates-yet-rivals trope. And tropes is something F1 excels at. Is it a podium finish then? For me, Rush remains the gold standard when it comes to racing films. Ford vs Ferrari is a very close second, almost a photo finish, I'd say. F1 never challenges these two films for the top spot on the podium. But it makes a case for itself as the most fun racing film made since Days of Thunder. The wisecracks, the cheesiness, and the stunningly beautiful racing make it an experience unlike any other. F1 was a difficult production. It was shot on real race weekends on real tracks, with many F1 drivers and crew members making cameo appearances. Lewis Hamilton, Toto Wolff, Fernando Alsono, Max Verstappen, Carlos Sainz, and Sergio Perez make an appearance. We see real crowds. That brings in realism without ever looking like a gimmick. Countless films have tried this by using real athletes, but it has never quite looked as real. If F1 succeeds with the audience, other makers will likely try to replicate this, perhaps for other sports. But in that regard, at least, F1 is likely to remain the gold standard for some time to come.
Miami Herald
4 days ago
- Automotive
- Miami Herald
Shaquille O'Neal Cut a Ferrari in Half So He Could Fit In It
Shaquille O'Neal - otherwise known as Shaq, Diesel, and a handful of other nicknames - is almost larger than life. But we aren't just talking about his incredible basketball track record or nearly half a billion-dollar net worth. He's physically a huge guy, weighing over 320 pounds and standing just over seven feet tall. When you're a man of that stature and means, well, sometimes you improvise. In a recent interview, Shaq confessed that he bought two Ferraris - one "real" and one salvage - before trying to splice them together in order to accommodate his frame. There's a surprising tale of ups and downs behind the decision. But what about Alfa Romeo? Ficili, also the head of Alfa Romeo, has confirmed that Stellantis will review its strategy, too. He didn't share further details about this, as it seems like the automaker is focusing on Maserati first. We should know more by the end of the month. Alfa Romeo is currently struggling, not only with sales but also with the development of its upcoming products. Specifically, the next-generation Stelvio, Alfa's best-selling model, is in doubt since the company backpedaled from its full-electric lineup strategy, now heading to a hybrid path. However, a new post today suggests something new will be revealed next week: Of note, 15% of Alfa Romeo's sales are from America, the world's second-biggest automotive market. Again, tariffs will play a significant role in both automakers' business plans, for which Stellantis hired the consulting firm McKinsey.
