The Chennai-based Relux Electric, a fast-growing EV charging infrastructure provider in south India, is all set to invest Rs. 330 crore towards developing ultra-fast charging hubs in Tamil Nadu in the next five years. The company has signed an MoU with the Government of Tamil Nadu in this regard at the Global Investors Meet 2024.

Relux Electric Signs Rs. 330 CR MoU with Tamil Nadu Government

Founded in 2019 with the objective of promoting green mobility, Relux Electric has already invested around Rs. 25 crore in setting up charging infrastructure in the last three years. The only Charge Point Operator (CPO) in India which is operationally profitable, the company currently runs 80+ fast charging stations, with capacities ranging from 30 to 120 kW, in the south Indian states of Tamil Nadu, Andhra Pradesh, Telangana, Kerala, Karnataka, and Puducherry.

The fresh investment will be utilised to set up 150 fast charging Stations and 5 Ultra-Fast Charging Hubs with each 500kW capacity in Tamil Nadu alone in the next five years. Relux Electric is planning to take the strength of its pan India network to 500 during the same period, taking the capacity of its charging infrastructure to 50 MW and the valuation of the company to about Rs. 150 crore.

Even as the market for Electric Vehicles is booming across the vehicle categories, the company aims to emerge as a market leader in the India’s EV charging infrastructure sector with its unwavering focus on higher utilization of charging stations and developing its own team for R&D and entire operations.

Relux Electric procures charging equipment based on its own designs. It also has its own technical and maintenance team. Hence, it is able to keep the downtime to a bare minimum of a few hours and ensure higher utilisation of its assets – up to 40%, which is double the industry average. The company focuses on ultra-fast charging infrastructure guarantees a 10-minute charging time for three wheelers, and 18-minute charging time for four wheelers, thanks largely to its high-end chargers.

In his comments on the MoU with Government of Tamil Nadu, Mr. Karthik, Managing Director, Relux Electric, and a board member of Charge Point Operators Society of India, said, “Having started off from Tamil Nadu, we are a home-grown player in the state’s EV charging infrastructure sector. With the state’s enviable position as the largest automotive hub in the country, and the state government’s encouraging policies for the EV industry, we see a huge scope for growth for anything that has something to do with green mobility. We are committing to invest Rs. 330 crore within the next five years in Tamil Nadu and be a part of its growth story in this sector.”

Relux Electric has strategic partnerships with Audi and Kia that paves the way for the customers of these auto majors to charge their EVs for free. The company is in talks with other automobile brands also for the same to replicate the model that will go a long way in boosting the sale of electric vehicles in India.

Woxsen University in Hyderabad was honoured today to host Yves Leterme, Former Prime Minister of Belgium, on its campus. Letermes visit was a significant highlight of the International Conclave focusing on India-EU as Strategic Partners for the Future of Higher Education. Notable figures present at the conclave included G. V. Prasad, Co-Chairman and Managing Director of Dr. Reddys Laboratories and Honorary Consul General of Belgium; Dr. Shankar S. Mantha, Former Chairman of AICTE, along with representatives from the US Consulate Hyderabad, the Embassy of the Netherlands, the Government of Telangana, the University of Hyderabad, IBS Hyderabad, NALSAR, NICMAR University, and IMT Hyderabad.

Former Prime Minister of Belgium, Mr. Yves Leterme, addressing the conclave on “Enhancing India-European Union Bilateral Relations” at Woxsen University, Hyderabad

The primary objective of the International Conclave was to establish a dynamic platform to foster open and constructive dialogue among key stakeholders from the realms of diplomacy, higher education, and business. By bringing together thought leaders, policymakers, and industry representatives, the conclave aimed to strengthen EU-India ties, catalyze collaborations, and drive positive changes in the landscape of higher education.

V. Prasad, Co-Chairman and MD of Dr. Reddys Labs and Honorary Consul General of Belgium, graced the occasion with the Guest of Honour Address. The distinguished H. E. Mr. Yves Leterme, Former Prime Minister of Belgium, then delivered a captivating Keynote Address on Enhancing India-European Union Bilateral Relations.

E. Yves Leterme, Former Prime Minister of Belgium, said, “The EU, India, and the US are the biggest democracies in the world. The new rising power India is a democracy that protects its values while addressing the global challenges and well-balanced multinational institutions and Sustainable Development Goals agenda and Woxsen is forging a generation of future that holds these principles.”

He further added, “The first stage of EU-India cooperation is to collaborate and connect to promote good incentives and learn about each other. The connectivity partnership has decided to boost the collective efforts between the EU and India with transport as the number one priority – with some added value to invest in infrastructural links for transporting energy goods and water. The second priority is setting up an ecosystem for energy consumption. We need a lot of innovation and investment to use the resources efficiently. The third is the digital domain. We must join forces in the digital world because the EU needs natural resources in free market competition. EU and India cooperation can promote Indian unicorns and build more competition in the digital world using cutting-edge technology. The fourth domain is person-to-person cooperation, which is the importance of education exchange and tourism. We are demanding well-educated, skilled people from good management schools in India. India and the EU should deepen their cooperation in geopolitical terms as well. Together, we need to resolve issues. We must resume free trade, investment protection, and agreement on geopolitical issues.“

V. Prasad, Co-Chairman & MD, Dr. Reddys Labs & Honorary Consul General of Belgium, emphasized, “What makes a country powerful is military strength, education, economic output, and cost competitiveness. However, the foundation of a solid educational and research system is still something in which we must invest. Our founding fathers institutionalized good technical institutes and universities. But beyond the public universities, it was not easy for the private sector to set up institutes like this and recreate the history of India with world-class facilities at low fee structure and cost-effectiveness. Research is the other thing. We must also ensure that we fund research in Indian institutions. Nurtured innovation, entrepreneurship, and research are the key driving forces to meet Indias grand ambition. We need hundreds of universities like this. We need cutting-edge research and discipline to move the country forward into the nations development. I could see Woxsen bringing all of these and more to life at the University.”

A Plenary Session on ‘Internationalization of Higher Education: Reflections on Present and the Road Ahead’ was orchestrated amidst the conclave. The speakers of the session included Dr. Shankar S. Mantha, Former Chairman, AICTE; Dr. Suman K. Mukherjee, Economist & Management Consultant; G.V. Prasad, Co-chairman and MD, Dr. Reddys Labs; Yves Leterme, Former Prime Minister of Belgium; Dr. Raul V. Rodriguez, Vice-President, Woxsen University.

Speaking about how Woxsen students are gearing up for global roles in digital sectors, Vishal Khurma, CEO, Woxsen University, said the world is transforming faster with new innovations & technologies coming into place. At Woxsen, we offer students, avenues for industry exposure and practical learning through high-tech labs and deep lea. This prepares them to be effective and diligent in their roles as they enter the corporate world.

Concluding the illuminating International Conclave at Woxsen University, the presence of Former Prime Minister Yves Leterme added a global perspective to the discussions on the future of higher education between India and the European Union. His insights into fostering collaboration, addressing geopolitical challenges, and enhancing person-to-person cooperation resonated deeply with the diverse audience present. The conclave catalyzed forging stronger ties, promoting innovation, and establishing a framework for sustained collaboration between India and the EU. Woxsen University remains committed to being at the forefront of facilitating meaningful dialogues that contribute to the advancement of higher education, research, and global partnerships.

Apartel, Aarin Hospitality’s latest venture (one of India’s fastest-growing services residence group) is excited to announce the launch of Apartel Oragadam, at Hiranandani Parks. This very unique concept, a cross between Apartments and Hotels focuses on Luxury Serviced Residences for short & long stays, primarily to cater to Expats, Business Executives & Business Travellers.

Ribbon Cutting Apartel Oragadam

A brainchild of Samvel Sathyan, a seasoned entrepreneur with over 20 years of experience in the Hospitality sector, he has successfully identified the needs of the business traveller for modern amenities, ample space, and privacy in a modernistic integrated township.

Hiranandani Parks is located in a burgeoning business corridor, intersecting 2 major growth highways of Tamil Nadu. The township, in itself, is master-planned, developed with a fine mix of residential, retail, commercial, education, healthcare sports and recreational zones, making it an idyllic setting for short and long stays.

Talking about the concept, unlike traditional hotels, in the words of the Founder Mr. Samvel Sathyan, “Apartel Oragadam provides a home away from home experience, offering a sense of community along with luxurious amenities.”

Not the first Apartel, but the one at Oragadam features a variety of elegantly designed and spacious homes, in 2-BHK and 3-BHK configurations, with areas ranging from 1,700 to 2,000 sqft. Apartel, apart from its very convenient location, next to 100’s of MNC’s also offers a gym, and a global-cuisine restaurant to indulge in authentic local cuisine, which further elevates the guest experience.

On this momentous occasion, Dr Niranjan Hiranandani, MD Hiranandani Communities and the developer of Hiranandani Parks township wished everyone the best of success. He also mentioned that this service is more than just a convenience, it is a comfort, one that truly makes the stay away from home – effortless.

N Sridhar (CEO Infrastructure Hiranandani Group), Niranjan Hiranandani (Founder & MD Hiranandani Group) and Samvel Sathyan (Founder & Director Aarin Hospitality)

Apartels serviced residences are available on a daily and monthly basis, providing budget-friendly options for both corporate relocations and extended visits. With over 150 keys across their two properties, the company aims to expand to 3000+ keys and employ over 1200 highly trained and qualified personnel by 2030. The company plans to expand its presence across Chennai, Bangalore, and Hyderabad to meet the increasing demand for premium serviced residences.

For more information about Apartel Oragadam and its services, please contact +91 44 6716 5555 / +91 44 6716 3333 / +91 9940596111 / +91 9940618166

Apartel
23B – Chartwell 2,
Hiranandani Parks,
Senthamangalam Village,
Oragadam, Chennai – 603204,
Tamil Nadu

About Apartel by Aarin Hospitality

Apartel by Aarin Hospitality is a leading provider of premium serviced residences that cater to the demand for flexible and comfortable accommodation solutions. With a focus on delivering a home away from home experience, Apartel their latest venture sets the standard for exceptional comfort, convenience, and affordable stay.

Starting a Systematic Investment Plan (SIP) in a mutual fund scheme has always been the go-to option when your goal is to generate wealth over a longer horizon. However, in addition to wealth creation, SIP in mutual funds can also prove to be a tax-friendly investment avenue.

Tax implication on SIP

Many investors wonder whether SIPs are tax-free or not Here, we will shed light on the applicable tax rules on SIPs and exemptions. By understanding the tax implications associated with SIPs, you can make informed decisions and optimise your investment strategy for better financial outcomes.

What are SIPs

Systematic Investment Plans (SIPs) are a popular investment avenue offered by mutual fund companies. SIPs entail investing a fixed amount of money in mutual funds at regular intervals – daily, monthly, quarterly. SIPs work on the principle of regularity, allowing investors to buy more units when prices are low and fewer units when prices are high. This averages out the cost of purchase in the long run – a phenomenon known as rupee cost averaging, which can help investors mitigate risks associated with market volatility.

Taxation of capital gains from SIPs

The tax treatment of SIPs depends on factors such as the type of mutual fund scheme and the holding period of the investment. Each SIP instalment allows investors to purchase a specific number of mutual fund units, which are redeemed on a first-in-first-out basis.

For example, if you invest in an equity fund through an SIP for one year and decide to redeem your entire investment after 13 months, the units purchased first through the SIP are considered long-term holdings (held for over one year). Any capital gains realized from these units are classified as long-term capital gains. If the long-term capital gains amount to less than Rs 1 lakh, no tax is payable on them.

On the other hand, units purchased through the SIP will generate short-term capital gains if redeemed within a year. These gains are taxed at a flat rate of 15%, regardless of your income tax slab. It is important to note that applicable cess and surcharge will be levied on the tax amount.

Tax treatment of Income Distribution cum Capital Withdrawal (IDCW) from SIPs

IDCW received by investors are treated as part of their taxable income and taxed according to their applicable income tax slab rates.

Tax benefits of SIP investments

Efficient tax planning plays a critical role in minimising tax liabilities and maximising income. An effective tax-saving option is investing in Equity Linked Saving Schemes (ELSS), which offer SIP tax saving benefits under section 80C of the Income Tax Act, 1961. ELSS funds have a mandatory lock-in period of 3 years. By opting for an SIP in an ELSS fund, individuals can claim a deduction of up to Rs. 1.5 lakh per year.

One of the notable advantages of ELSS funds is their relatively short lock-in period compared to other tax-saving options under section 80C of the Income Tax Act, 1961.

Tax planning strategies with SIPs

Modern investors are increasingly turning to Systematic Investment Plans (SIPs) as a long term -return investment option. Here are some ways in which SIPs can contribute to tax savings. The same strategies are true for lumpsum investment as well:

Reducing tax obligations – SIPs that fall under the category of Equity-Linked Savings Schemes (ELSS) and are eligible for tax exemption under section 80C of the Indian Income Tax Act, 1961.

Enhanced flexibility – SIPs provide flexibility and investors can tweak their monthly/quarterly amount based on their changing financial situation. This not only fosters financial discipline but also generates higher returns over long term while facilitating efficient tax deductions.

Early tax planning – Tax planning at the beginning of the year is the ideal approach to optimise tax savings. By initiating early investments in a Systematic Investment Plan, investors can build a substantial corpus, leading to tax savings, wealth creation, and better returns potential on their investments.

In conclusion, by incorporating SIPs in ELSS into their financial strategy, individuals can not only boost the return potential on their investments but also benefit from tax savings. With enhanced flexibility and the potential for early tax planning, SIPs provide a disciplined approach to wealth creation. However, it is essential for investors to understand the tax implications of SIPs and consult with professionals to optimise their investment decisions.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

In a new initiative to reshape the landscape of creativity and cross-cultural development in higher education, Rishihood University, entered into a strategic partnership with Limkokwing University of Creative Technology, Malaysia, helmed by Professor Manika Walia, Dean, School of Creativity, Rishihood University.

Prof. Peter Ling, CEO Limkokwing University of Creative Technology with Prof. Manika Walia, Founding Dean, School of Creativity, Rishihood University

The Memorandum of Understanding (MoU) spanning a duration of five years, highlights joint efforts in industry-led global immersion programs for students, research projects, conferences, and cross-cultural development initiatives,aiming to leverage the strengths of each institution, thereby providing students and faculty with unique opportunities for driving optimum growth and enhanced learning.

Expressing her elation at the signing of the MoU, Professor Manika Walia, Dean, School of Creativity, Rishihood University said,“We at Rishihood University believe in creating social impact through quality education and a blend of innovation and creativity. In order to do this, it is even more important to equip students with the necessary skills and tools to bolster their creative spark thereby encouraging them to think differently and in more unique ways. Our partnership with Limkokwing University stands as a testament to our mutual commitment at fostering excellence in creative education. Through this endeavor, we aim to equip our students with the skills and perspectives necessary to thrive in an increasingly interconnected world, enabling them to navigate and contribute meaningfully towards diverse cultural landscapes with confidence and empathy I am extremely thankful to Limkokwing University for collaborating with us and I look forward to seeing further such collaborations in the future.”

The MoU outlines a comprehensive framework for collaboration not only between the two universities but also cross-cultural development serving to enrich the educational experience for students. Rooted in the belief that creativity transcends borders and that global collaboration is key to birthing the next generation of creative leaders, this collaboration reflects both universities’ shared commitments to fostering innovation and enabling creativity.

About Rishihood University

Rishihood University, instituted in Sonepat, Haryana in 2020 is Indias first impact university. Based on the ideologies of Rishihood, the University aims to impart impactful education and inculcate leadership capacity to its students with a curriculum anchored on self-leadership, mentorship, experience and multi-disciplinary learning.

Founded and led by people who come from a diverse set of backgrounds including business, public life, spirituality, academia, social entrepreneurship, technology, and social work, the University offers a multi-disciplinary, multidimensional, and multimodal way of learning.

Chai Chun, a renowned name in the world of fine teas, is delighted to announce the debut of its Bagan Bahar CTC (Crush, Tear, Curl) chai packets at INDUS FOOD 2024. Bagan Bahar will soon become synonymous with quality, offering classic and masala chai blends meticulously crafted by Chai Chuns expert Tea Master.

Chai Chun Introduces Bagan Bahar CTC Chai Packets

Bagan Bahar, positioned as the mid-range tea for every household, is perfect for daily consumption. The product bouquet includes classic and masala chai blends, each thoughtfully selected and expertly blended by our Tea Master. With a deep understanding of consumer emotions and preferences, the Master Blender at Chai Chun creates harmonious blends that captivate the senses, ensuring the perfect convergence of aroma and flavor.

“Our Bagan Bahar CTC chai packets represent a true embodiment of Chai Chuns commitment to tradition and flavor. Crafted by our skilled Tea Masters, these blends offer a delightful experience that resonates with tea enthusiasts seeking the perfect balance of aroma and taste,” says Rajeev Baid, the visionary Founder of Chai Chun.

Bagan Bahar is available in various weight variations, catering to diverse preferences and ensuring that every household can indulge in the rich flavors of Chai Chuns CTC chai. Whether one enjoys the classic simplicity or the aromatic warmth of masala chai, Bagan Bahar promises a satisfying and consistent tea-drinking experience.

Following the unveiling at INDUS FOOD 2024, Bagan Bahar CTC chai packets will be made accessible at select retail stores and online platforms. Chai Chun invites tea lovers to embrace the tradition and flavor encapsulated in every cup of Bagan Bahar.

For more information about Chai Chun and its Bagan Bahar CTC chai packets, please visit www.chaichuntea.com.

About Chai Chun

Chai Chun is a distinguished purveyor of fine teas, committed to preserving cultural tea-drinking traditions. Since 2019, Chai Chuns Bagan Bahar has been a symbol of quality, offering classic and masala chai blends crafted by the expert hands of the Tea Master.

Delhi | NCR, India

R&R, a leading authority in real estate research, has recently conducted an in-depth analysis to decode the mood of the buyers in the Delhi-NCR region. The study aimed to gauge the overall sentiment, plans, and views of buyers, particularly focusing on the real estate markets trajectory in the first half of 2024.

R&R by Rise Infraventures

As per the comprehensive report, indicators suggest that the real estate sector in Delhi-NCR is gearing up for unprecedented growth in the coming days. 2024 is anticipated to be a powerhouse year for real estate development in the region.

Key Highlights

The most interesting insight that came out was that the consumers are going all out and are looking at real estate as not just a great investment, but also, as a way to a meaningful and fulfilling life.

NCR has witnessed sales of over 50K crore, and the Gurugram market has witnessed over a 45% price hike in the premium homes segment.

With the priority being moving into their homes, the buyers segment today is flooded with first-time buyers. Additionally, with the need to upgrade current homes into larger and better spaces, the premium and luxury segment is also gaining traction.

With each passing day, the homebuyer is becoming younger, more assertive, and demanding a high-quality of life, propelling the demand for new age products.

Key Findings

Shift in Buying Preferences: In a significant shift, a large number of buyers are now considering under-construction properties, with 44% showing interest in this category.

Consumer Confidence and Sentiment: The study reveals robust consumer confidence, with 23% actively looking to buy or invest in property. The highest group, comprising 35% of respondents, aims to buy or invest in real estate currently. Furthermore, 57% plan to invest in a property in the next 3-6 months.

Property Preferences: Residential properties emerged as the preferred choice, with 49% of respondents expressing an interest in homes, followed by 38% looking at commercial properties, 8% considering industrial land, and the remaining 5% exploring other options.

Age Group Dynamics: A notable 60% of respondents belonged to the 35-44 age group, reinforcing the belief that for mid-level professionals, investing in real estate is a top priority.

Home Buying Triggers: Different triggers influence home buying decisions. Availability of the preferred property type is the prime reason for 29% of respondents, followed by moderate interest rates (25%) and enticing offers (23%).

Regional Dynamics: With a high demand and diverse housing options in the National Capital Region (NCR), Gurugram remains the preferred choice for 35% of buyers. This is closely followed by Noida (29%) and Delhi (22%), primarily due to product availability and attractive price points.

Luxury Housing Trend: In the recent past, there has been a significant shift in preferences for luxury housing. Luxury continues to be a favoured choice, with 34% considering buying or investing in luxury properties, followed by mid-segment (29%) and affordable segment (24%).

Consumer Confidence in Developers: Despite a strong market and high demand for real estate, consumer confidence in reputed developers remains crucial. A substantial 84% of respondents believe that reputation is an important factor when choosing a developer, emphasising the significance of a proven track record and the ability to deliver.

Vishesh Prakash, Head of R&R, expressed enthusiasm about the findings, stating, “The real estate landscape in Delhi-NCR is poised for substantial growth in 2024. The evolving preferences of buyers and their emphasis on quality of life present exciting opportunities for developers to innovate and meet the evolving needs of the market.”

As we anticipate the dawn of 2024, the real estate landscape in Delhi-NCR stands at the cusp of an exhilarating transformation. R&Rs exhaustive study not only decodes the current sentiments but also unveils a promising trajectory for the real estate sector. The paradigm shift in buyer preferences, the surge in confidence among consumers, and the dynamic trends shaping the market paint a vivid picture of a region ready to embrace a new era of growth and innovation. Developers and stakeholders alike are urged to leverage these insights to align their strategies with the evolving needs of the discerning homebuyer. The findings underscore not just a financial investment but a holistic pursuit of a fulfilling life through real estate. With this comprehensive understanding, Delhi-NCR is poised to witness a dynamic and vibrant real estate market in 2024.