New Delhi, Office space absorption across six major cities in India fell over 50% to 27.4 million square feet in 2020, according to a <keyword id="10518151" type="UNKNOWN" weightage="20" keywordseo="savills-india-report">Savills India report</keyword>. In 2019, office space spread over 55.7 million square feet was leased. Out of the total office leases in 2020, around 57% comprised large deals of more than 1,00,000 square feet each. The report said that <keyword id="6354321" type="COMPANY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword> led the leasing activity among the major cities despite a drop of 56% compared with last year, posting maximum office absorption of 6.8 million square feet space. <keyword id="6354552" type="LOCATION" weightage="20" keywordseo="hyderabad">Hyderabad</keyword> followed closely with leasing of 5.4 million square feet in 2020. Leasing of office space in the <keyword id="6371638" type="COMPANY" weightage="20" keywordseo="national-capital-region">National Capital Region</keyword> (NCR) stood at 4.4 million square feet. Like previous year, Bengaluru, Hyderabad and NCR constituted around 61% of the total leasing activity in 2020 as well, showed the report. Savills India also pointed out that <keyword id="6358070" type="LOCATION" weightage="20" keywordseo="mumbai">Mumbai</keyword>, India's financial capital, recorded around 2.9 million square feet of leasing through the year, the least absorption witnessed among the six cities. "The overall story of 2020 is the one of survival, and most markets did exactly that. While the story of Indian office market in 2020 may not be as glorious as in 2019 and 2018, it still continues to strive and display resilience, in the face of COVID-induced slowdown," said Anurag <keyword id="108548" type="COMPANY" weightage="20" keywordseo="Mathur">Mathur</keyword>, CEO, Savills India. He noted that the fundamentals of Indian economy remain intact and strong leasing traction continues in sectors like warehousing and industrial. "Now with the coronavirus vaccine in sight and businesses poised to gain momentum, we can expect to reach pre-COVID levels soon," Mathur said. SEE ALSO: <a href="https://www.businessinsider.in/india/news/these-are-some-important-changes-in-india-from-january-1-2021-new-year/articleshow/80021085.cms">From mandatory FAStag to quarterly GST returns — these are some important changes in India from January 1</a> <a href="https://www.businessinsider.in/business/auto/news/heres-what-to-expect-from-maruti-mm-hero-bajaj-auto-and-other-automakers-in-december-month-2020-auto-sale/articleshow/80021695.cms">December auto sales estimates — Here’s what to expect from Maruti, M&amp;M, Hero, Bajaj Auto, and other automakers</a> <a href="https://www.businessinsider.in/tech/apps/news/google-is-testing-a-shortcut-feature-for-tiktok-and-instagram-videos/articleshow/80021865.cms">Google is testing a shortcut feature for TikTok and Instagram videos</a>

India office leasing in top six cities falls over 50% in 2020: Savills India

<img class="gwt-Image" src="/photo/35827654.cms" /> Every book will get you somewhere and the more you read, the more you will rock. That’s not philosophy but hardcore truth as the sizzling summer comes with events like readathons, to say nothing of year-long challenges like Indian Quills <keyword id="4228" type="COMPANY" weightage="100" keywordseo="Reading">Reading</keyword> 2014 where the more you read, rate and review <keyword id="5050" type="UNKNOWN" weightage="100" keywordseo="books">books</keyword> by <keyword id="3396" type="UNKNOWN" weightage="100" keywordseo="Indian-authors">Indian authors</keyword>, the more you gain in name, fame and prizes (books of your choice, of course). 
 Since plenty of exciting, can’t-miss titles have hit the shelves this month, what about bringing in some change to your summer reading list as well? This time, we have made it a heady mix of thoughtful non-fiction, suspenseful <keyword id="584616" type="UNKNOWN" weightage="100" keywordseo="Thrillers">thrillers</keyword>, hearty humor and soothing romance to keep you engaged throughout the lazy summer days. Here’s a list of six brand <keyword id="2276017" type="UNKNOWN" weightage="100" keywordseo="New-titles">new titles</keyword> that will make you sit up and take notice. Happy reading! 
 
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May Must-reads: Try
These 6 Titles For A Heady Mix Of Head, Heart And Humour

<img class="gwt-Image" src="/photo/48113458.cms" /> The BCCI has set up an organising committee for ICC World Twenty20, which will be held in India next year. 
 
The World T20 tournament, which will be hosted by the BCCI, will held from March 11 to April 3, 2016. 
 <keyword id="2955406" type="UNKNOWN" weightage="100" keywordseo="BCCI-secretary-Anurag-Thakur">BCCI secretary Anurag Thakur</keyword> informed that MV Sridhar, general manager for cricket operations at BCCI as the tournament director while former Delhi Police commissioner Neeraj Kumar, who is the chief advisor security and ACSU of BCCI will be the director of Security and ACSU for the event. 
 
While Amrit Mathur is appointed as the principal coordinator, RP Shah will be the tournament manager finance. KVP Rao, manager - game development of the BCCI has been appointed as the manager for cricket operations while Nishant Jeet Arora, media manager of the BCCI, will be the tournament media manager. 
 
N Srinivasan's assistant Mayank Parikh has been nominated as manager - logistics and hospitality for the event. 
 
Professor Ratnakar Shetty has been appointed as an advisor to the committee. 
 
(Image: Indiatimes)

BCCI gears up for 2016 ICC World T20, forms organising committee

New Delhi, Jan 16 () Office space leasing across India's six major cities rose by 22 per cent to record 57.7 million sq ft (gross) during 2019 on strong demand for worskspace from corporates, especially Americans, but pace of growth is likely to moderate to 7-8 per cent this year, according to global property consultant Savills.
 UK-based Savills, which is listed on London Stock Exchange and has 600 offices across 70 countries in the world with over 39,000 employees, has pegged the gross office leasing at 61-62 million sq ft in 2020 across six cities -- Bengaluru, Chennai, Hyderabad, Mumbai, National Capital Region (NCR) and Pune.
 "The commercial segment, especially, the office space market is going from strength to strength, beating its own record of 47.3 million sq ft in 2018 to set a new one at 57.7 million sq ft in 2019," Savills India CEO Anurag Mathur told reporters here.
 This growth symbolises that office space across key markets is on a strong footing, driven by India's technology sector, rise in flexible spaces, formalisation of the Indian economy and the growing offshoring by western corporations, he added.
 Of the total leasing, 40 per cent absorption was from US corporations, 30 per cent from European companies and 30 per cent from domestic entities.
 Asked about 2020 outlook, Mathur said the gross office space leasing is estimated at around 61-62 million sq ft.
 "Growth will happen. It may not happen at the same rate as 2019," he said, adding that the demand was exceptional last year.
 Shweta Sawhney, MD (Delhi-NCR), said Hyderabad saw an increase of 53 per cent in office space leasing at 9.5 million sq ft in 2019. Chennai reported 60 per cent rise in absorption of office space at 8 million sq ft.
 Office space leasing rose by 15 per cent in Bengaluru at 15.6 million sq ft, while Delhi-NCR witnessed 14 per cent growth at 10.89 million sq ft.
 In Mumbai, the gross leasing of office space grew by 11 per cent to 6.9 million sq ft. The absorption was stable in Pune at 6.8 million sq ft.
 On rentals, Sawhney said office space rent grew maximum by 18-20 per cent in Chennai. Bengaluru saw a rise of 7-10 per cent in rental, Hyderabad 8-10 per cent, Mumbai 4-5 per cent, Pune 2-4 per cent, Gurugram 3-4 per cent and Noida 0-2 per cent. In Delhi, rentals were stable.
 Major demand generators for Grade-A office spaces on pan-India scale were technology sector companies at 46.3 per cent. Banking, financial services and insurance (BFSI) leased about 10.6 per cent of the overall space and co-working segment has 14 per cent share. MJH PSK MR

Growth in office space leasing may moderate in 2020 after hitting record 58mn sq ft last yr: Savills

<img src="https://static-ssl.businessinsider.com/image/5deeab2cfd9db21d4113abc5-2400/ybarrapacohires.jpg" alt="Ybarra_Paco" />CitigroupCiti Institutional Clients Group CEO Paco Ybarra.<ul class="summary-list"><li><a href="https://www.businessinsider.com/category/citigroup">Citigroup</a> announced its 2019 managing-director promotions last Friday.</li><li>The MD distinction, the highest title at the firm, was earned by 137 employees in Citi's Institutional Clients Group, which houses its trading and dealmaking operations.</li><li>Business Insider got a hold of Citi exec Paco Ybarra's internal memo announcing the full list of names.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summarymarymary">Click here for more BI Prime stories.</a></li></ul>Nearly 140 employees in Citigroup's Institutional Clients Group received a dose of good news on Friday: They're part of the 2019 class of managing-director promotions.The MD title is the highest at the firm and a coveted distinction. More than 50 of the 137 new managing directors this year came from the firm's sales and trading division, while nearly 40 came from the firm's dealmaking unit, according to a memo from Citi Institutional Clients Group (ICG) CEO <a href="https://www.citigroup.com/citi/about/leaders/paco-ybarra-bio.html">Paco Ybarra</a> viewed by Business Insider.Other divisions with new MDs include Treasury and Trade Solutions, private banking, operations and technology, and commercial banking. "A promotion to Managing Director is a career-defining accomplishment. Each of these individuals makes a remarkable, differentiated contribution to Citi, embodying our Mission of Progress by working each day to Be the Best for Our Clients and embracing our Leadership Standards," Ybarra wrote in the Dec. 6 memo. "I look forward to their continued leadership and contributions in the years ahead."Citi spokeswoman Danielle Romero-Apsilos confirmed the contents of the memo.The 137 promotions, which are effective as of January 1, are up from <a href="https://www.businessinsider.com/citigroup-promotes-125-to-managing-director-heres-the-full-list-2018-12">125 last year</a> and 120 in 2017. Here's the list of 2019 managing director promotions at Citigroup: <table style="font-weight: 400;" width="0"><tbody><tr><td colspan="3">Banking, Capital Markets and Advisory </td></tr><tr><td>Pavan Bellur</td><td>Neeraj Kumar</td><td>Laura Posse</td></tr><tr><td>Aaron Chandrasakaran</td><td>Temmy Lizarzabal</td><td>Enrico Prato</td></tr><tr><td>Nitesh Dugar</td><td>Eros Marshall</td><td>Jennifer Pu</td></tr><tr><td>Brad Epstein</td><td>Faisal Masood</td><td>Colm Rainey</td></tr><tr><td>Pranjal Gambhir</td><td>Waleed Matin</td><td>Robert Redshaw</td></tr><tr><td>Chris Gartin</td><td>Aoiffe McGarry</td><td>Amar Rizvi</td></tr><tr><td>Peter Grinups</td><td>Jason Miner</td><td>Ganesh Sarpotdar</td></tr><tr><td>John Hutcheson</td><td>Rapheal Mun</td><td>Scott Slavik</td></tr><tr><td>Yuka Izumi</td><td>Gilbert Ng</td><td>Prashant Thakker</td></tr><tr><td>Alex Juricev</td><td>Isobel Nordstrom</td><td>Rudy Vela</td></tr><tr><td>Kaan Kesedar</td><td>Meghan O'Connor</td><td>Mike Vondriska</td></tr><tr><td>Yoon Kim</td><td>Alex Oechler</td><td>Scott Wexler</td></tr><tr><td>Patrick Kosiek</td><td>Tommaso Ponselè</td><td>Ruo Yang</td></tr><tr><td></td><td></td><td></td></tr><tr><td colspan="3">Treasury and Trade Solutions </td></tr><tr><td>Ambrish Bansal</td><td>Trudy Curtis</td><td>Leo Gazzo</td></tr><tr><td>Andre Carvalho De Sanctis</td><td>Scott Damassa</td><td>Rich Iseman</td></tr><tr><td>Aman Chadha</td><td>Terry Dennis</td><td>Dawid Janas</td></tr><tr><td>Natasha Condon</td><td>Santosh Dujari</td><td>Rajakumar Ramalingam</td></tr><tr><td></td><td></td><td></td></tr><tr><td colspan="3">Private Bank </td></tr><tr><td>Jane Bachmann</td><td>Andrew James</td><td>Andrea Rossato</td></tr><tr><td>James Balkwill</td><td>Alfredo Lelo De Larrea</td><td>Vaibhav Sharma</td></tr><tr><td>Gregor Bollen</td><td>Shalini Mathur</td><td>Mohannad Sleiman</td></tr><tr><td>Roberto de Andrade</td><td>Mark Maxson</td><td>Whitney Xun</td></tr><tr><td>Onjada Haggard-Richardson</td><td>Lee Pelayo</td><td></td></tr><tr><td>Adam Harper</td><td>Miguel Romo</td><td></td></tr><tr><td></td><td></td><td></td></tr><tr><td colspan="3">Markets and Securities Services </td></tr><tr><td>Vijay Albuquerque</td><td>Paddy Green</td><td>Matteo Sardo</td></tr><tr><td>Charley Bensaid</td><td>Daniel Gutierrez</td><td>Rafa Serrano</td></tr><tr><td>Brad Bloom</td><td>Niall Hornett</td><td>Tim Stisser</td></tr><tr><td>Darren Brighton</td><td>Anurag Jodhawat</td><td>Lee Street</td></tr><tr><td>Brian Carlstead</td><td>Georgia Kaliora</td><td>Will Taing</td></tr><tr><td>Victoria Chant</td><td>Sietske Kalse</td><td>Wei Tang</td></tr><tr><td>Bryan Chao</td><td>Tokiya Kishie</td><td>Mayuri Tateishi</td></tr><tr><td>Selene Cheng</td><td>Robert Kong</td><td>Alex Todd</td></tr><tr><td>Marco Antonio Dias</td><td>Armin Lindtner</td><td>Neil Toy</td></tr><tr><td>David Dong</td><td>Armando Lopez</td><td>Matt Turnbull</td></tr><tr><td>Cormac Donohoe</td><td>Eric Natelson</td><td>Martin Watson</td></tr><tr><td>Jaya Dutt</td><td>Danny Nathan</td><td>Chris Wetherbee</td></tr><tr><td>Rachid El-Mohammadi</td><td>Mike Newton</td><td>Martin Wilkie</td></tr><tr><td>El Ezzine</td><td>Kenichiro Nitta</td><td>Dan Willett</td></tr><tr><td>Rob Famulare</td><td>Kristina Pi</td><td>Yi Yong</td></tr><tr><td>Caryn Freiberger</td><td>Rakesh Purohit</td><td>Tony Yuen</td></tr><tr><td>Andrea Galvis</td><td>Luca Sabbatini</td><td>Matt Zimmerman</td></tr><tr><td>Deborah Gowland</td><td>Prosenjit Saha</td><td></td></tr><tr><td></td><td></td><td></td></tr><tr><td colspan="3">ICG Operations and Technology </td></tr><tr><td>Lorraine Berge</td><td>Srini Manthripragada</td><td>Sunder Subramanian</td></tr><tr><td>Dipali Devaskar</td><td>Justin Palamara</td><td>Milly Webb</td></tr><tr><td>Alvaro Echeverry</td><td>Joe Pergola</td><td>James West</td></tr><tr><td>Anubhav Kunwar</td><td>Ben Rayner</td><td></td></tr><tr><td></td><td></td><td></td></tr><tr><td colspan="3">Commercial Bank </td></tr><tr><td>Francisco Abreu</td><td>Manik Chhabra</td><td>Oliver Rey-Beckstrom</td></tr><tr><td>Gary Chen</td><td>Joydeep Mukherjee</td><td>Zoltán Schwardy</td></tr></tbody></table> <h3>NOW WATCH: <a href="https://www.businessinsider.com/bill-gates-warren-buffett-billionaires-donate-money-2017-10">On Giving Tuesday, see how Bill Gates and Warren Buffett are changing the world like no other humans in history</a></h3> <iframe class="bijwplayerclass" src="https://content.jwplatform.com/players/M78g9qx1-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;"></iframe>

Citigroup just announced 137 new managing directors in its trading and dealmaking unit - we got a hold of the internal memo with all the names

New Delhi, Apr 17 () The real estate industry on Friday hailed RBI's decision to boost liquidity into the system and provide relief to loans taken from NBFCs for commercial projects, but sought one-time restructuring of their loans and a stimulus package to help the sector in battling the crisis caused by the lockdown to control COVID-19.The RBI on Friday reduced the reverse repo rate - the rate at which banks park their fund with the central bank - by 25 basis points to encourage banks to lend to the productive sectors of the economy. It also announced an additional Rs 50,000 crore through targeted long-term repo operation (TLTRO) and another re-financing window of Rs 50,000 crore for institutions like Nabard, National Housing Bank and Sidbi.CREDAI Chairman Jaxay Shah said: " We welcome the RBI's decision of providing the liquidity boost to the realty sector. We are hopeful that the government will soon aid the sector with the announcement of the much needed economic package."The RBI has allowed NBFCs to extend the date for commencement for commercial operations (DCCO) in respect of loans to commercial real estate projects by an additional one year if the projects got delayed for reasons beyond the control of promoters.CREDAI President Satish Magar said, measures such as extension of DCCO, fresh LTRO and reverse repo rate cut will help uplift the economic slowdown."Loans given by NBFCs to real estate companies will get similar benefits as given by scheduled commercial banks, thus easing the financial burden on developers," he said. Naredco President Niranjan Hiranandani said: "From the perspective of regulatory norms to spur an economic revival, the measures announced aim to maintain adequate liquidity in the system, facilitate bank credit flow and ease financial stress. These are absolutely welcome, given that economic activity has come to a standstill during the lockdown."He said the announcement that loans given by NBFCs to real estate companies would get similar benefits as given by the scheduled commercial banks was positive. Anshuman Magazine, Chairman &amp; CEO - India, South East Asia, Middle East &amp; Africa said NHB has been provided with a refinance facility of Rs 10,000 crore for HFCs as additional liquidity for individual housing loans, which is a much needed boost at this time.Anarock Chairman Anuj Puri said: "Among the various measures announced, commendably its allotment of Rs 10,000 crore to NHB is a big move for the real estate sector reeling under the liquidity crisis. It will help provide capital to HFCs and eventually provide major relief to developers battling liquidity issues in COVID-19 times."Tata Realty and Infrastructure MD &amp; CEO Sanjay Dutt said the RBI's measures will provide some relief to the sector, which had already been dealing with its own set of issues prior to the pandemic. "These measures...are bound to encourage banks to lend more, thereby improving the credit flow and giving more purchasing power to homebuyers and investors," Dutt said. JLL India CEO and Country Head Ramesh Nair said, "Today's announcement will give an initial fillip to the real estate sector. The central bank's focus to provide credit flow to NBFCs is a key step. This will provide a boost to various real estate activities."As per the RBI data, NBFCs outstanding credit to the commercial real estate stood at Rs 1,29,359 crore as of September-end 2019, he said. "The relaxation of NPA classification norms and extension of one year for commencement of projects to real estate developers by NBFCs will provide the much needed relief to the sector," Nair said. Dhruv Agarwala, Group CEO, Housing.com, and PropTiger, said the RBI move will help ease some financial stress in the system. This move will hopefully nudge banks to increase lending to various sectors of the economy, which is the need of the hour."We are extremely delighted and find a great sense of reassurance with the central bank taking cognizance of specific problems faced by the real estate sector and proactively taking targeted measures to address those issues," Knight Frank India CMD Shishir Baijal said. Savills India CEO Anurag Mathur said:" The central bank's decision to pump in Rs 10,000 crore to NHB for refinancing companies is expected to address some of the liquidity concerns in the residential segment."Ashish Jain, Partner at Cyril Amarchand Mangaldas, said lack of liquidity has been one of the most critical issues facing the real estate sector, even before the pandemic. Any measure to boost liquidity is, therefore, a welcome move.Reliance Home Finance CEO Ravindra Sudhalkar said, "RBI has provided a welcome relief to NBFcs and HFCs in the form of liquidity boosters, which will benefit both housing and commercial real estate.""With relaxation offered to NBFCs to extend the realty loans by a year, the real estate sector will have greater support in these difficult times," said Ankush Kaul, President (Sales &amp; Marketing) - Ambience Group. Pradeep Aggarwal, Founder &amp; Chairman, Signature Global said the infusion of liquidity in the market is of utmost importance and the latest announcement will definitely help the economy.Gaurs group MD Manoj Gaur said the banks and the NBFCs should pass on the benefits announced by the RBI.Supertech Chairman R K Arora said "one time restructuring of loans was not allowed which is a primary requirement of the real estate sector."Sushma group ED Prateek Mittal said the RBI's move will boost liquidity but sought a stimulus package to revive the property market and the economy. MJH SHW ANUANU

Real estate industry hails RBI move to boost liquidity in system

New Delhi, Mar 25 () The nationwide lockdown for next 21 days amid spread of coronavirus will severely impact residential real estate as housing sales have almost come to a standstill, which could affect builders' cash flow and lead to default in repayment of bank loans, according to property developers and consultants. Market experts also fear that existing customers might delay payments of their instalments to developers, who in turn could default in repayment of principal and interest on bank loans. Developers may hold on to apartment rates, but prices in the secondary or resale market could fall, they said. To mitigate the impact, developers and brokers are adopting digital marketing tools to reach out to prospective home buyers. When contacted, realtors' apex body CREDAI President Satish Magar said the lockdown will greatly impact the sales transactions and new launches will be deferred. "There are chances of many customers defaulting on their instalments because of tough economic conditions. These will have a cascading effect on developers-who will be battling with servicing their debts as cash inflows will be strained," he added. NAREDCO President Niranjan Hiranandani said overall sales numbers have dropped. The lockdown has opened up opportunities for digital platforms for sales and marketing activities, as also payments, he said. Bengaluru-based Puravankara MD Ashish R. Puravankara said: "At this point, no property registrations are taking place and all new project launches are postponed". As all construction sites are under lockdown, there will be a delay in completion leading to an increase in the interest cost, he added. "Additionally the lockdown could hamper the cash flow cycle of the developers' balance sheets and could result in bank defaults", said Ashish. Anarock Chairman Anuj Puri said the lockdown will have a negative impact on housing sales and new launches during the auspicious festivals of Gudi Padwa, Akshaya Tritiya, Navratri and Ugadi. "This is a time when AV technology to enable virtual site visits and walk-throughs will gain increased relevance and use," he said. Anshuman Magazine, Chairman &amp; CEO (India, South East Asia, Middle East &amp; Africa), CBRE said: "It is too early to comment on the impact of Covid 19 given that the situation is still evolving ... We are confident that once the situation normalises, sales will resume". Dhruv Agarwala, Group CEO, Housing.com and PropTiger.com, said the lockdown will have an adverse impact on real estate. "We too have begun to see a dip in traffic on all our platforms," he said, adding that the company has come out with innovative schemes for builders and brokers to advertise on its websites. Siva Krishnan, MD (Residential Services and Developer Solutions), JLL India said the lockdown will definitely have an impact on housing sales, but briefly. Shalin Raina, MD- Residential Services, Cushman and Wakefield, said the complete lockdown means lesser sales since most of the transaction closures happen only after site visits. Housing prices have corrected by 15-20 per cent in the last few years and further decline is unlikely, Raina said. Savills India CEO Anurag Mathur said: "Housing sales may see a sharp dip for at least the next one quarter... Even if the situation settles down quickly, it may take time for homebuyers to come back to the market." "Price elasticity is not a concern under the circumstances since the transaction activity is at a standstill anyway. Depending upon the duration and depth of the current crisis, prices may or may not see a downward movement," he said. Omaxe CEO Mohit Goel said the recovery in the housing segment has been halted. "As for real estate prices, there will be no change as transactions are not taking place. The prices will resume at the level it has halted," he said. Gaurs' MD Manoj Gaur said, "The sales are impacted, but it is temporary." Supertech Chairman R K Arora said, "housing sales have completely gone". There are no buyers in the market. Pune-based Gera Developments MD Rohit Gera said, "Real estate sales are at a standstill. So far there has not been any reduction or crash in prices of homes." "In the absence of some relief from the government, more real estate developers with debt obligations will default on account of the stop in cash flows thereby impacting the economy and jobs," he added. M3M Director Pankaj Bansal said housing sales would get impacted during this period of crisis, but it would also create a pent up demand once things get back to normal. Experion Developers Senior ED Ananta Singh Raghuvanshi said, "Sales closures are temporarily getting pushed ahead. Prices won't change." Raheja Developers ED Nayan Raheja said the sales and construction are badly impacted and at standstill. ABA Corp Director Amit Modi said the sales velocity has definitely been slow. Gulshan Homz Director Deepak Kapoor said, "People are deferring property buying decisions." PropEquity MD Samir Jasuja said: "For the real estate sector, this is a tough situation as it was just finding green shoots of recovery. We believe for the next few weeks, we will not see any new transactions for housing sales". Ambience President (Sales &amp; Marketing) Ankush Kaul said: "Housing sales will be impacted for the next few weeks." Ekta World Chairman Ashok Mohanani said the lockdown has affected the business cycle deeply. Wadhwa group, Head - Sales, Marketing Bhasker Jain said the lockdown has impacted sales and the company is offering cashback on online bookings. Brokerage firm 360 Realtors Ankit Kansal said the activities have come to a standstill after lockdown. Sales were down by 30-40 per cent during the first three weeks of March. Investors Clinic Founder Honeyy Katiyal said sales would be impacted but not the price. Wealth Clinic CMD Amit Raheja said, "It will hamper sales to a large extent, but we expect a good turnaround once the situation returns to normalcy." MJH MRMR

Nationwide lockdown to impact housing sales, say realtors

<img src="https://static-ssl.businessinsider.com/image/57ffe64dda177d78008b4cda-2400/ap_568425079002.jpg" alt="Michael Corbat" /><ul class="summary-list"><li>CEO Michael Corbat sent out an internal memo on Tuesday announcing the firm's new class of managing directors.</li><li>The MD distinction, the highest title at the firm, was earned by 220 employees across the bank - 137 from the firm's Institutional Clients Group, which includes its dealmaking and sales and trading teams, and 25 in its Global Consumer bank. </li><li>Business Insider got ahold of Corbat's memo congratulating the 220 new MDs.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summarymarymary">Click here for more BI Prime stories</a>.</li></ul>Managing director is the highest title at Citigroup, and 220 employees recently earned a promotion to that elite group across the firm, according to a company-wide memo CEO Michael Corbat sent out Tuesday. Individual divisions began announcing newly promoted MDs last Friday, including <a href="https://www.businessinsider.com/citigroup-announces-137-new-managing-directors-in-trading-dealmaking-2019-12">137 in the firm's Institutional Clients Group</a>, which houses its dealmaking and sales and trading teams, and 25 in its Global Consumer bank. Another 58 promotions came in other areas of the firm, such as risk management, legal, and HR.Women represented 28% of the promotions, up from 25% last year. "This well-deserved honor is a significant career milestone for these individuals, and we can all take pride in their contributions to our firm. Please join me in congratulating them," Corbat wrote in the memo, which was reviewed by Business Insider.A company spokeswoman confirmed the contents of the memo.In November, <a href="https://www.businessinsider.com/goldman-sachs-announces-2019-managing-director-promotions-class-2019-11">Goldman Sachs announced</a> a class of 465 new managing directors, of which 29% were women. At Goldman the coveted MD promotions are announced once every two years and put recipients one step <a href="https://www.businessinsider.com/goldman-ceo-solomon-offering-buyouts-to-partners-shrink-senior-ranks-2019-9">below partner</a> at the investment bank. Bank of America also and <a href="https://www.businessinsider.com/barclays-managing-director-list-56-new-mds-corporate-investment-bank-2019-12">Barclays also announce</a> MDs in the fourth quarter, while Morgan Stanley's new class is typically unveiled in January and JPMorgan Chase ushers in its cohort in Spring.Here's the full list of all newly promoted managing directors at Citigroup, as well as their business line:<table cellspacing="0"><tbody><tr><td width="280" height="20">Name, Business / Function</td><td width="270">Name, Business / Function</td></tr><tr><td height="20">Gautam Abroal, ICRM</td><td>Armin Lindtner, Markets</td></tr><tr><td height="20">Vijay Albuquerque, Markets</td><td>Temmy Lizarzabal, BCMA</td></tr><tr><td height="20">Roberto Armenteros, EIO&amp;T</td><td>Mauricio Lopez Lajud, Mexico Consumer</td></tr><tr><td height="20">Rohit Arora, EIO&amp;T</td><td>Armando Lopez, Markets</td></tr><tr><td height="20">Scott Athey, Finance</td><td>Ken Loughran, Internal Audit</td></tr><tr><td height="20">Jane Bachmann, Private Bank</td><td>Kate Luft, APAC Consumer</td></tr><tr><td height="20">Jorge Baez, Mexico Consumer</td><td>Krishna Majithia, Risk Management</td></tr><tr><td height="20">James Balkwill, Private Bank</td><td>Srini Manthripragada, ICG O&amp;T</td></tr><tr><td height="20">Rahul Banerjee, GCB</td><td>Eros Marshall, BCMA</td></tr><tr><td height="20">Ambrish Bansal, TTS</td><td>Faisal Masood, BCMA</td></tr><tr><td height="20">Sandeep Batra, APAC Consumer</td><td>Shalini Mathur, Private Bank</td></tr><tr><td height="20">Lorraine Berge, ICG O&amp;T</td><td>Waleed Matin, BCMA</td></tr><tr><td height="20">John Bekian, ICRM</td><td>Mark Maxson, Private Bank</td></tr><tr><td height="20">Pavan Bellur, BCMA</td><td>Dennis McCarthy, U.S. Consumer</td></tr><tr><td height="20">Charley Bensaid, Markets</td><td>Aoiffe McGarry, BCMA</td></tr><tr><td height="20">Karen Bernhard, Mexico Consumer</td><td>Patsy McGuire, HR</td></tr><tr><td height="20">Vishal Bhardwaj, GCB Operations and Fraud</td><td>Shweta Mehrotra, HR</td></tr><tr><td height="20">Sharon Blackman, Legal</td><td>Jason Miner, BCMA</td></tr><tr><td height="20">Brad Bloom, Markets</td><td>Minae Mizuno, Internal Audit</td></tr><tr><td height="20">Michael Boghosian, U.S. Consumer</td><td>Lora Monfared, U.S. Consumer</td></tr><tr><td height="20">Gregor Bollen, Private Bank</td><td>Ajit Moorthy, HR</td></tr><tr><td height="20">Darren Brighton, Markets</td><td>Joydeep Mukherjee, Global Commercial</td></tr><tr><td height="20">Brian Carlstead, Markets</td><td>Rapheal Mun, BCMA</td></tr><tr><td height="20">Andre Carvalho De Sanctis, TTS</td><td>Eric Natelson, Markets</td></tr><tr><td height="20">Aman Chadha, TTS</td><td>Danny Nathan, Markets</td></tr><tr><td height="20">Padmaja Chakravarty, Legal</td><td>Mike Newton, Markets</td></tr><tr><td height="20">Aaron Chandrasakaran, BCMA</td><td>Gilbert Ng, BCMA</td></tr><tr><td height="20">Victoria Chant, Markets</td><td>Kenichiro Nitta, Markets</td></tr><tr><td height="20">Bryan Chao, Markets</td><td>Isobel Nordstrom, BCMA</td></tr><tr><td height="20">Gary Chen, Global Commercial</td><td>Meghan O'Connor, BCMA</td></tr><tr><td height="20">Selene Cheng, Markets</td><td>Alex Oechler, BCMA</td></tr><tr><td height="20">Manik Chhabra, Global Commercial</td><td>Liam O'Gara, Finance</td></tr><tr><td height="20">George Clayton, Risk Management</td><td>Jason Osborne, GCB</td></tr><tr><td height="20">Lisa Cochran, GCB Technology</td><td>Justin Palamara, ICG O&amp;T</td></tr><tr><td height="20">Francisco Conceicao, Holdings</td><td>Anthony Pantina, Risk Management</td></tr><tr><td height="20">Natasha Condon, TTS</td><td>Lee Pelayo, Private Bank</td></tr><tr><td height="20">Jason Cramer, U.S. Consumer</td><td>Marco Antonio Dias, Markets</td></tr><tr><td height="20">Tom Curley, HR</td><td>Joe Pergola, ICG O&amp;T</td></tr><tr><td height="20">Trudy Curtis, TTS</td><td>Kim Persaud, Risk Management</td></tr><tr><td height="20">Scott Damassa, TTS</td><td>Krista Phillips, GCB</td></tr><tr><td height="20">Jiten Dave, HR</td><td>Kristina Pi, Markets</td></tr><tr><td height="20">Roberto de Andrade, Private Bank</td><td>Jennie Platt, U.S. Consumer</td></tr><tr><td height="20">Terry Dennis, TTS</td><td>Tommaso Ponselè, BCMA</td></tr><tr><td height="20">Dipali Devaskar, ICG O&amp;T</td><td>Laura Posse, BCMA</td></tr><tr><td height="20">Carol Dewar, EIO&amp;T</td><td>Enrico Prato, BCMA</td></tr><tr><td height="20">Allegra Digia, HR</td><td>Jennifer Pu, BCMA</td></tr><tr><td height="20">Todd Domecq, Retail Services</td><td>Kim Pulliam, GCB Operations and Fraud</td></tr><tr><td height="20">Sara Domingos, Internal Audit</td><td>Rakesh Purohit, Markets</td></tr><tr><td height="20">David Dong, Markets</td><td>Colm Rainey, BCMA</td></tr><tr><td height="20">Cormac Donohoe, Markets</td><td>Rajakumar Ramalingam, TTS</td></tr><tr><td height="20">Samantha Dorfman, EIO&amp;T</td><td>Shellie Rayford, Internal Audit</td></tr><tr><td height="20">Nitesh Dugar, BCMA</td><td>Ben Rayner, ICG O&amp;T</td></tr><tr><td height="20">Santosh Dujari, TTS</td><td>Robert Redshaw, BCMA</td></tr><tr><td height="20">Emma Duncombe, HR</td><td>Oliver Rey-Beckstrom, Global Commercial</td></tr><tr><td height="20">Jaya Dutt, Markets</td><td>Francisco Abreu, Global Commercial</td></tr><tr><td height="20">Berry East, Finance</td><td>Juan M. Rincon-Cortes, Legal</td></tr><tr><td height="20">Alvaro Echeverry, ICG O&amp;T</td><td>Amar Rizvi, BCMA</td></tr><tr><td height="20">Belinda Ellington, Legal</td><td>Frank Rodrigues, ICRM</td></tr><tr><td height="20">Rachid El-Mohammadi, Markets</td><td>Diego Rojas, Finance</td></tr><tr><td height="20">Brad Epstein, BCMA</td><td>Miguel Romo, Private Bank</td></tr><tr><td height="20">Eliza H Eubank, Risk Management</td><td>Andrea Rossato, Private Bank</td></tr><tr><td height="20">El Ezzine, Markets</td><td>Bill Rys, Global Public Affairs</td></tr><tr><td height="20">Rob Famulare, Markets</td><td>Luca Sabbatini, Markets</td></tr><tr><td height="20">Mark Fisher, Risk Management</td><td>Prosenjit Saha, Markets</td></tr><tr><td height="20">Caryn Freiberger, Markets</td><td>Anand Sairam, Finance</td></tr><tr><td height="20">Ed Fresco, Internal Audit</td><td>Marcelo Santos, Finance</td></tr><tr><td height="20">Andrea Galvis, Markets</td><td>Matteo Sardo, Markets</td></tr><tr><td height="20">Pranjal Gambhir, BCMA</td><td>Ganesh Sarpotdar, BCMA</td></tr><tr><td height="20">Chris Gartin, BCMA</td><td>Zoltán Schwardy, Global Commercial</td></tr><tr><td height="20">Serene Gay, APAC Consumer</td><td>Mauricio Schwartzmann, Mexico Consumer</td></tr><tr><td height="20">Leo Gazzo, TTS</td><td>Rafa Serrano, Markets</td></tr><tr><td height="20">Ryan Gilliam, Legal</td><td>Kashif Shabbir, ICRM</td></tr><tr><td height="20">Jason Gordon, Retail Services</td><td>Vaibhav Sharma, Private Bank</td></tr><tr><td height="20">Deborah Gowland, Markets</td><td>Scott Slavik, BCMA</td></tr><tr><td height="20">Paddy Green, Markets</td><td>Mohannad Sleiman, Private Bank</td></tr><tr><td height="20">Harpreet Grewal, APAC Consumer</td><td>Fabrizio Sommazzi, Internal Audit</td></tr><tr><td height="20">Peter Grinups, BCMA</td><td>Elissa Steinberg, Finance</td></tr><tr><td height="20">Daniel Gutierrez, Markets</td><td>Tim Stisser, Markets</td></tr><tr><td height="20">Onjada Haggard-Richardson, Private Bank</td><td>Lee Street, Markets</td></tr><tr><td height="20">Andreas Hamm, EIO&amp;T</td><td>Sunder Subramanian, ICG O&amp;T</td></tr><tr><td height="20">Adam Harper, Private Bank</td><td>Will Taing, Markets</td></tr><tr><td height="20">Mario Hernandez, Internal Audit</td><td>Wei Tang, Markets</td></tr><tr><td height="20">Justin Herrmann, Risk Management</td><td>Mayuri Tateishi, Markets</td></tr><tr><td height="20">Lorraine Hogan, Internal Audit</td><td>AlexTaylor, HR</td></tr><tr><td height="20">Niall Hornett, Markets</td><td>Prashant Thakker, BCMA</td></tr><tr><td height="20">John Hutcheson, BCMA</td><td>Alex Todd, Markets</td></tr><tr><td height="20">Tanaaz Irani, APAC Consumer</td><td>Nagib Touma, ICRM</td></tr><tr><td height="20">Rich Iseman, TTS</td><td>Neil Toy, Markets</td></tr><tr><td height="20">Yuka Izumi, BCMA</td><td>Matt Turnbull, Markets</td></tr><tr><td height="20">Andrew James, Private Bank</td><td>Jacob Turner, Legal</td></tr><tr><td height="20">Dawid Janas, TTS</td><td>Rudy Vela, BCMA</td></tr><tr><td height="20">Anurag Jodhawat, Markets</td><td>Mike Vondriska, BCMA</td></tr><tr><td height="20">Jessica Johnson, Finance</td><td>Martin Watson, Markets</td></tr><tr><td height="20">Alex Juricev, BCMA</td><td>Brad Wayman, U.S. Consumer</td></tr><tr><td height="20">Georgia Kaliora, Markets</td><td>Milly Webb, ICG O&amp;T</td></tr><tr><td height="20">Sietske Kalse, Markets</td><td>Chris Welland, EIO&amp;T</td></tr><tr><td height="20">Mayank Kaul, Risk Management</td><td>James West, ICG O&amp;T</td></tr><tr><td height="20">Kaan Kesedar, BCMA</td><td>Graham Westgarth, Finance</td></tr><tr><td height="20">Yoon Kim, BCMA</td><td>Chris Wetherbee, Markets</td></tr><tr><td height="20">Tokiya Kishie, Markets</td><td>Scott Wexler, BCMA</td></tr><tr><td height="20">Jasmin Koelbl-Vogt, Legal</td><td>Martin Wilkie, Markets</td></tr><tr><td height="20">Robert Kong, Markets</td><td>Dan Willett, Markets</td></tr><tr><td height="20">Patrick Kosiek, BCMA</td><td>Jeffrey Wool, Legal</td></tr><tr><td height="20">Neeraj Kumar, BCMA</td><td>Whitney Xun, Private Bank</td></tr><tr><td height="20">Sampath Kumar, Internal Audit</td><td>Ruo Yang, BCMA</td></tr><tr><td height="20">Anubhav Kunwar, ICG O&amp;T</td><td>Yuri Yermakov, Risk Management</td></tr><tr><td height="20">Marta LaRusso, Risk Management</td><td>Yi Yong, Markets</td></tr><tr><td height="20">Alfredo Lelo De Larrea, Private Bank</td><td>Tony Yuen, Markets</td></tr><tr><td height="20">Tammy Levine, U.S. Consumer</td><td>Sophia Zhu, ICRM</td></tr><tr><td height="20">Cori Lin, GCB</td><td>Matt Zimmerman, Markets</td></tr></tbody></table><a href="https://www.businessinsider.com/intelligence/banking?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=wallstreet&amp;itm_campaign=banking-2"><img src="https://static.businessinsider.com/image/5dcb17d93afd371433387969" alt="Discover Business Insider Intelligence's Newest Coverage 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You Searched For "Anurag Mathur" and got 8 results

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Citigroup CEO Michael Corbat sent out an internal memo congratulating the bank's new class of managing directors - we got the entire list of 220 names

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