Residential rents soared in 2022: NoBroker report
Residential rents in Bengaluru increased on average by 12% in 2022, significantly higher than that in recent preceding years, according to data on property portal NoBroker. Rentals for properties near offices and in gated communities went up by 25%. NoBroker co-founder Saurabh Garg told TOI that the rent increase in recent years had been around 3-5%. The platform uses data from rental agreements made on the portal to assess the increase in rent.
The steep increase in rent is motivating people to buy houses, NoBroker said in its report for 2022. In a survey, 32% of tenants mentioned rent increase as the major factor in buying houses, an increase from 18% in 2021.
On the NoBroker platform, Garg said, most properties in 2022 were rented out within 24 hours, compared to 15-16 days before Covid. Around 35-40% houses in gated communities were rented out within just six hours. The platform’s analysis shows that 73% of landlords feel it is easier to rent out their properties now. This is a substantial jump from 41% in 2021.
UNSC Adopts First-ever Resolution on Myanmar
The U.N. Security Council has adopted its first ever resolution on Myanmar in 74 years todemand an end to violence and urge the military junta to release all political prisoners,including ousted leader Aung San Suu Kyi. Ms. Kyi, 77, has been a prisoner since the armytoppled her government almost two years ago and violently cracked down on dissent.
The 15-member council has long been split on how to deal with the Myanmar crisis with Chinaand Russia arguing against strong action. They both abstained from the vote, along with India.
The remaining 12 members voted in favor.
The resolution urges the junta to immediately release all arbitrarily detained prisoners,including Suu Kyi and ex-president Win Myint.
It also demands an immediate end to all forms of violence and asks for all parties to respect human rights, fundamental freedoms and the rule of law.
Richest state Maharashtra is also India’s top performer
India’s richest state Maharashtra is also the country’s best performer across financial and social indicators, according to state rankings released by credit rating company.
The rankings, released by CareEdge — research arm of Care Ratings — showed that Prime Minister Narendra Modi’s home state Gujarat is at the second spot, with robust economic growth and fiscal management.
Meanwhile, India’s most industrialized state Tamil Nadu was ranked third with an edge in social and governance categories.
Maharashtra had a composite score of 55.7 followed by Gujarat (51.8), Tamil Nadu (51.1), Telangana (50.9) and Karnataka (50.4).
In Group B (Northeast, hilly & small states), Goa topped the overall ranking and was a front-runner in social, infrastructure, financial inclusion and fiscal categories.
Among the northeastern states, Sikkim was the best performer due to better score in economic, social, infrastructure and environment categories.
Notably, Odisha topped the rankings in the fiscal category due to better score on revenue and fiscal deficit and healthy debt management indicators (CSF & GRF).
Maharashtra topped in financial inclusion with best performance in credit/GSDP ratio, NBFC sanctions and health insurance penetration. It also fared relatively well in mutual fund penetration.
Punjab and Haryana topped in the infrastructure ranking, mainly due to high power availability, railway density and greater irrigated area. However, both lagged in terms of social infrastructure (hospital beds & schools), the report said.
On governance, Andhra Pradesh and Telangana were at the top due to high Ease of Doing Business (EoDB) rank and better scores in the court conviction rate.
IISc experts detect radio signal from atomic hydrogen in distant galaxy
Astronomers from Indian Institute of Science (IISc) in Bengaluru and McGill University in Canada have used data from the Giant Metrewave Radio Telescope (GMRT) in Pune to detect a radio signal originating from atomic hydrogen in an extremely distant galaxy.
The signal was emitted when the universe was only 4.9 billion years old.
It means the look-back time for this source is 8.8 billion years. The findings have been published in the monthly notices of the Royal Astronomical Society.
The astronomical distance over which such a signal has been picked up is the largest so far by a large margin. This is also the first confirmed detection of strong lensing of 21cm emission from a galaxy.
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