SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

Gurugram DTCP cancels licence for stalled Ocean Seven Buildtech housing project in Sector 69

#Law & Policy#Residential#India#Haryana#Gurugram
Gurugram News Desk Last Updated : 28th Aug, 2026
Synopsis

Haryana's Department of Town and Country Planning (DTCP) has cancelled the licence granted to Ocean Seven Buildtech Pvt Ltd for an affordable group housing colony in Sector 69, Badshahpur, Gurugram, after finding that only around 10 per cent of construction work had been completed despite the project's approval deadline lapsing years ago. The move follows a similar cancellation of the developer's licence for a separate project in Sector 109, with the department stating that the licensed land now stands vested with the government.

Haryana's Department of Town and Country Planning (DTCP) has cancelled the licence granted to Ocean Seven Buildtech Pvt Ltd for a stalled affordable group housing project in Sector 69, Badshahpur, Gurugram, after finding that construction on the site had progressed by only around 10 per cent despite years having elapsed since the project's approval. The cancellation marks the second such action against the developer in recent weeks, following an earlier order revoking the company's licence for a separate affordable housing colony spanning 7.5 acres in village Baburpur, Sector 109, Gurugram. 
Under Haryana's Affordable Housing Policy 2013, projects are required to be completed within four years of the approval of building plans or the grant of environmental clearance, whichever comes later. In the case of the Sector 109 project, building plans had been approved on 26 September 2016, but the developer failed to carry out development within the stipulated timeframe. According to the DTCP's order, the licensed land and buildings of the concerned colony now stand vested with the government, with a bar imposed on the creation of any further third-party rights by the licensee. 
The department had earlier flagged concerns over delays across multiple Ocean Seven Buildtech projects, including licence number 6 of 2016 in Sector 109 and licence number 28 of 2018 in Sector 69, within the Gurugram-Manesar Urban Complex, after receiving a large number of complaints regarding incomplete construction. A review meeting convened by the department on 6 February 2023 saw no representative of the company appear, prompting the DTCP to suspend the developer's licences, including those for the affordable group housing projects, through an order dated 23 February 2023. 
The regulatory action against the developer has since escalated further, with the Haryana State Enforcement Bureau registering a First Information Report (FIR) against the company on 31 August 2025. The Directorate of Enforcement in New Delhi has separately informed the department that it has initiated an investigation into the matter, adding a financial-crime dimension to the existing regulatory proceedings against the builder. 
The cancellation adds to a growing list of enforcement actions taken by Haryana authorities against developers whose projects have remained stalled for extended periods, leaving homebuyers who invested in these schemes without possession of their homes despite having paid substantial portions of the sale consideration. The Haryana Real Estate Regulatory Authority (HARERA) has in the past pursued similar measures against errant builders in Gurugram, including debarring developers from securing fresh project licences until previously delayed projects are completed, and blacklisting firms found to have violated regulatory provisions. With the Sector 69 licence now cancelled and the land deemed vested with the state government, affected homebuyers are likely to look to the authorities for clarity on the resolution process for the stalled project, even as the broader investigation into the developer's conduct continues.

Discussion

Have something to say? Post your comment