MAM
Downslide continues in September; Consumer Confidence of Indians dips by 0.6 percentage points: Thomson Reuters-Ipsos PCSI
MUMBAI: Consumer Confidence of Indians in September has slipped 0.6 percentage points, according to the latest India Primary Consumer Sentiment Index (PCSI),as measured by Thomson Reuters, in partnership with Ipsos – PCSI had declined by 3.1 percentage points in August 2019 and except for a slight uptick (of 0.6 percentage points) in July 2019, this downward trend has been continuous since May 2019.
The monthly PCSI whichis driven by the aggregation of the four weighted sub-indices, in September shows that at least three of the sub-indices continue to be on downward spiral, with only Economic Expectations Sub Index showing recovery: the PCSI Employment Confidence (“Jobs”) Sub-Indexis down by 1.0percentagepoints; the PCSI Economic Expectations (“Expectations”) Sub Index, is up by 1.4percentage points; the PCSI Investment Climate (“Investment”) Sub-Index has receded by 1.2percentage points; and the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index has fallen by 1.9 percentage points, over last month.
“It is clear, there is a slowdown and Indians are impacted. Since May this year, consumers have been lesser confident month-on-month, about finances, investment and jobs. Hopefully, the recent reduction in corporate tax and early spirit of festivals would arrest the downward spiral and boost the sentiment upward,”says Parijat Chakraborty, Country Service Line Leader, Public Affairs& Corporate Reputation, Ipsos India.
India PCSI 2013-2019 Trend
These are findings of an Ipsos online poll conducted August 23, 2019-September 6, 2019. For this survey, a sample of 500 adults from Ipsos' India online panel aged 16-64 years was interviewed online. As this is an online poll in India, representative of the online community in the country, it is not reflective of the general population; however, the online sample is particularly valuable in their own right as they are more urban, educated and have more income than their fellow citizens and often referred to as “Upper Deck Consumer Citizens” or Primary Consumers. The precision of the Thomson Reuters/Ipsos online polls is measured using a Bayesian Credibility Interval. In his case, the poll has a credibility interval of plus or minus 5.0 percentage points for all adults.
The Thomson Reuters/Ipsos India Primary Consumer Sentiment Index (PCSI), ongoing since 2010, is a monthly national survey of consumer attitudes on the current and future state of local economies, personal finance situations, savings and confidence to make large investments. The Index is composed of four sub-indices: Current Conditions Index; Expectations Index; Investment Index; and, Jobs Index.
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Maharashtra panel orders Lodha to refund Rs 5 crore to homebuyers
Consumer court flags unfair practices in long-running property dispute case
MUMBAI: In a sharp rebuke to one of India’s biggest real estate players, the Maharashtra State Consumer Disputes Redressal Commission has directed Macrotech Developers to refund nearly Rs 5 crore to a senior citizen couple, Uttam and Anindita Chatterjee. The ruling, delivered on March 13, 2026, calls out the developer for “deficiency in service” and “unfair trade practices”, bringing closure to a dispute that has stretched over a decade.
The case traces back to 2015, when the couple booked a 3-BHK flat at World Towers in Lower Parel for Rs 12.22 crore, with possession promised within a year. What followed was a series of changes that complicated matters. After deciding to exit the project, they were persuaded to shift to a 4-BHK in another development priced at Rs 8 crore, with delivery scheduled for 2018. However, within months, the price was allegedly increased to Rs 10 crore. After demonetisation reshaped the market, similar flats were reportedly being offered at lower prices, but the couple were not given the benefit.
Despite paying over Rs 2.83 crore, the couple neither received possession nor clarity. Instead, in 2018, the developer unilaterally cancelled the booking, retained part of the amount as earnest money, and argued that the buyers were investors rather than consumers. The commission rejected this claim, observing that casual references to “investment” do not take away consumer rights when the purchase intent is residential.
The bench also held that the developer could not penalise buyers for payment delays while failing to meet its own delivery commitments. It noted the lack of formal documentation for revised terms and termed the prolonged retention of funds without delivering a home as exploitative.
As part of its order, the commission directed the developer to refund Rs 2.83 crore paid by the couple, along with interest at 10 per cent per annum, amounting to around Rs 2.12 crore. In addition, Rs 1 lakh has been awarded for mental agony and Rs 50,000 towards litigation costs, taking the total payout to over Rs 5 crore. The developer has been asked to comply within two months.
For now, the ruling serves as a reminder that in real estate, shifting terms and delayed promises can carry a significant cost.
