26 Nov 2024

The municipal corporation is owed INR 1,881 crore in property tax, with 15% of this owed by 100 major defaulters, who collectively owe INR 288.4 crore. The corporation plans to target these defaulters to boost revenue, with actions such as sealing properties, disconnecting water supply, and auctioning properties if dues remain unpaid. While the MCG has projected INR 300 crore in property tax earnings for the current fiscal year, it fell short of its INR 500 crore target last year. Residents' welfare associations have pointed out that data errors in property IDs, including incorrect contact details and property sizes, have contributed to payment delays.Read more

20 Nov 2024

The district registrar had instructed registered societies and RWAs in the city to submit their audit returns on time, warning that failure to do so could result in deactivation or cancellation of registration. This was in response to widespread non-compliance with the HRRS Act, 2012, which mandates financial statements, audit reports, and AGM minutes be submitted within six months after the financial year's end. Many societies had failed to meet these requirements, causing internal disputes. The move was welcomed by RWAs, who saw it as a step toward eliminating defunct societies and promoting transparency in governance.Read more

19 Nov 2024

Earlier this month, the Department of Town and Country Planning (DTP) conducted a two-day demolition drive across unauthorised colonies in Gurugram, removing illegal structures spanning 30 acres. The operation focused on Gwal Pahari, Bhondsi, and Alipur villages. Key actions included the demolition of colonies, under-construction buildings, boundary walls, and road networks. DTP Enforcement head Manish Yadav emphasised the importance of verifying property legality before making investments, highlighting the drive's role in sending a strong message to those involved in illegal construction.Read more

18 Nov 2024

The Department of Town and Country Planning (DTCP) has begun issuing occupation certificates (OCs) for stilt plus four floor buildings constructed without approved plans after a year and a half delay. A government order in February 2023 had restricted four-storey buildings without proper permissions, leaving over 100 structures incomplete. In response, the Haryana government introduced a regularization policy in July, allowing buildings to secure OCs with an additional fee. Processing faced delays due to a High Court stay, which was lifted last month, allowing DTCP to resume on a priority basis. This progress has brought relief to property owners awaiting compliance and recognition for their investments.Read more

11 Nov 2024

The Municipal Corporation of Gurugram (MCG) recently sealed an unauthorised fourth floor in Sector 52, following a complaint from a resident who reported the illegal construction. This action underscores MCG's commitment to upholding building regulations, as only three floors were originally sanctioned. Commissioner Narhari Singh Banger directed enforcement action, including penalties for unauthorised debris dumping nearby. MCG has ramped up efforts to tackle construction violations, waste management, and sewer issues, offering swift complaint resolutions through citywide camps and an online portal. This proactive approach highlights MCG's dedication to safe urban development and encourages community engagement in municipal governance.Read more

04 Nov 2024

Godrej Properties Ltd (GPL) has secured the rights to develop a 7.5-acre group housing plot on Golf Course Road in Gurugram through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP). The plot has a development potential of over 1.7 million square feet, comprising luxury residential apartments with an estimated revenue potential of over INR 5,500 crore. This acquisition is the 11th new project GPL has secured in the current financial year, taking the booking value added through new projects to INR 22,950 crore, surpassing the company's full-year business development guidance. Godrej Properties has also acquired two other prime parcels in the Golf Course Road micro-market, with an estimated revenue potential of over USD 1.5 billion.Read more

04 Nov 2024

Signature Global, a prominent real estate developer in India, has entrusted Capacit'e Infraprojects Ltd with a INR 1203 crore construction contract for its prestigious residential project, Titanium SPR, located in Gurugram's Sector 71. The development, covering 14.382 acres and consisting of 608 luxury units, will be executed in two phases, with the first launched in June 2024, achieving a notable pre-sale of over INR 2700 crore. Strategically positioned near Southern Peripheral Road, Titanium SPR promises a unique blend of luxury, with over 55 exclusive amenities and design inspirations drawn from Singaporean architecture.Read more

31 Oct 2024

The Directorate of Enforcement (ED) has provisionally attached properties worth INR 56.86 crore in Gurugram, targeting M/s Krrish Realtech Pvt. Ltd. and its associates, including Amit and Rajesh Katyal, under the Prevention of Money Laundering Act (PMLA) of 2002. This action follows allegations of financial misconduct, with the company accused of collecting funds from potential property buyers without proper licenses from the Department of Town and Country Planning (DTCP). The ED also arrested Rajesh Katyal, alleging he laundered over INR 200 crore. The case underscores concerns around regulatory compliance and investor protection in India's real estate sector.Read more

28 Oct 2024

A DTPE team, led by Manish Yadav, sealed seven houses in DLF-1 due to illegal constructions, including unauthorized modifications despite occupancy certificates. The action followed multiple complaints from residents regarding aesthetic and safety concerns. Prior show-cause notices had been issued, but property owners failed to comply, prompting enforcement on October 21. The operation was supervised by duty magistrate ATP Anish Grover and other officials, focusing on ensuring adherence to town planning guidelines and enhancing the neighbourhood's safety and aesthetics.Read more

25 Oct 2024

In a bid to tackle illegal commercial activities on residential plots, the District Town Planner (DTP) conducted a two-day sealing operation in South City 2 and Uppal Southend. On October 15, three properties were sealed, including two guesthouses and a basement gym. The following day, two more guesthouses and one unauthorized structure were sealed in South City-I and Greenwood City. Residents expressed relief, highlighting ongoing issues such as increased traffic and security concerns due to these establishments. The DTP plans to continue these operations to enforce regulations against the misuse of residential areas for commercial purposes.Read more

23 Oct 2024

Shapoorji Pallonji Real Estate (SPRE) has joined forces with KREEVA, the real estate arm of the Kanodia Group, to develop a high-end residential project in Sector 46, Gurugram. The project will span 1.74 acres, offering luxury apartments tailored for discerning buyers in the National Capital Region (NCR). This venture brings together SPRE's real estate expertise and KREEVA's vision, aiming to redefine urban living with superior design, quality construction, and world-class amenities in one of Gurugram's most sought-after locations.Read more

21 Oct 2024

Elan Miracle Mall in Gurugram's Sector 84 is undergoing a festive transformation, becoming a one-stop destination for holiday shopping. The mall now features an array of renowned brands in fashion, beauty, home decor, and dining. With stores like Zudio, HomeStop, SUGAR Cosmetics, and Haldiram's, it caters to diverse consumer needs. The mall's unique design, with a three-sided open layout, ensures accessibility and a pleasant shopping environment. It also offers entertainment and the newly opened Ramada Encore Hotel. Upcoming brand launches and festive events are planned to enhance the visitor experience. Elan Miracle Mall aims to be more than a shopping center, offering a comprehensive lifestyle destination for the festive season.Read more

18 Oct 2024

Bata marked its 130th anniversary with the opening of a new, eco-conscious headquarters in Gurugram, emphasising innovation and sustainability. Designed with "Blue-Sky Thinking," the space fosters creativity, collaboration, and flexibility through modern features like hot seating, smart technology, and sustainable systems such as solar power and water recycling. The office has earned Platinum LEED and GRIHA certifications. CEO Gunjan Shah highlighted Bata's commitment to innovation, employee well-being, and environmental responsibility. The new headquarters reflects Bata's dedication to blending tradition with modernity, preparing the company for a sustainable, forward-thinking future.Read more

17 Oct 2024

DLF, India's largest real estate firm by market capitalization, is preparing to launch its most expensive project, DLF The Dahlias, on Golf Course Road in Gurugram. Featuring 400 residences priced from INR 80,000 per square foot, the average cost per apartment is expected to be around INR 100 crore. With a projected sales value of INR 34,000 crore, the project is set to surpass DLF's Camellias, another high-end development in the area. The Dahlias is anticipated to rival Mumbai's luxury projects, marking a new benchmark in India's luxury real estate market, attracting high-net-worth individuals to the NCR region.Read more

14 Oct 2024

Gurugram's real estate market has seen a remarkable 76% rise in property prices over the last two years, with a 15.5% quarter-on-quarter increase between July and September 2024, according to Magicbricks' PropIndex Report. This price surge is largely attributed to the completion of key infrastructure projects like the Dwarka Expressway, enhancing the city's connectivity and appeal. Despite moderate demand growth, supply has increased due to new project launches. Emerging sectors, such as Dwarka Expressway, New Gurgaon, and Golf Course Extension, are attracting buyers with relatively affordable rates.Read more

08 Oct 2024

Max Estates Limited has launched its first residential project, Estate 360, in Gurugram. In just 30 days, the project reached an impressive pre-sales booking value of INR 4,100 Crore. This exceeded the FY 25 target of INR 4,100 Crore. Estate 360 is the first intergenerational residential community in Delhi NCR, designed to cater to different generations. It offers over 60 amenities and focuses on sustainability, providing a unique living experience for its residents. Estate 360 features facilities designed for all age groups, including senior living spaces managed by Antara Senior Living.Read more

03 Oct 2024

Bhumika Group, a renowned real estate developer and the largest mall developer in Rajasthan, has entered the Gurgaon market with a new commercial project on MG Road. Acquiring a 1-acre land parcel, the Group aims to generate approximately INR 300 crore in revenue. This move aligns with their plan to expand their retail footprint in Delhi NCR, with 8.5 lakh sq. ft. of space expected by 2024. The project will feature premium retail, dining, and entertainment options, following the success of their Urban Square Mall in Udaipur.Read more

02 Oct 2024

The Department of Town and Country Planning (DTCP) has ordered the disconnection of essential services for 11 illegally constructed buildings in Palam Vihar's C2 block. Originally, each 500-square-yard plot was approved for one housing unit per floor, but up to 16 unauthorized flats were built. The case is now in the Punjab and Haryana High Court, following protests and a petition from local residents. DTCP has requested immediate enforcement, involving water, sewer, and electricity cuts, and filed multiple complaints against property owners. The issue highlights serious concerns over building regulation violations and their impact on local infrastructure.Read more

30 Sep 2024

AIPL Joy District (AJD), launched by Advanced India Projects Limited in Gurugram's Sector 88, is set to be a premier retail and entertainment destination. Strategically located at the intersection of major corridors, AJD will span 1.2 million square feet across four levels, featuring global lifestyle brands, diverse dining options, and entertainment zones. Post-pandemic residential growth in sectors 80-90 has fuelled demand for shopping and dining options, prompting AIPL's commitment to deliver 1.356 million square feet of premium retail space by Q4 2024. The project emphasises luxury, sustainability, and innovation, aiming to redefine the retail experience in Gurugram.Read more

27 Sep 2024

Haryana's Department of Town and Country Planning (DTCP) has increased floor-area-ratio (FAR) rates for large plots by around 20%, the first hike since 2016. Plots between 250-350 sqm will now have an FAR rate of INR4,500/sqm (up 19%), while plots between 350-450 sqm will pay INR6,500/sqm (up 21%). For plots larger than 500sqm, the rate jumps 24% to INR10,000/sqm. The hike aims to address rising land demand in cities like Gurgaon, with revenues supporting municipal development. Developers warn the increase could raise construction costs, potentially slowing large projects and pushing prices onto homebuyers.Read more