As part of a landmark judgment, the Haryana Real Estate Regulatory Authority - Gurugram bench has asked the Town and Country Planning Department (DTCP), Haryana, to withdraw the Completion Certificate (CC), or Occupation Certificate (OC), issued to projects that are yet to complete the development. The authority has also asked DTCP to initiate an inquiry as to how such certificates have been procured...
Gurgaon Investment
New York-headquartered collaborative workspace firm WeWork’s India arm plans to double the co-working space it offers in the country to 6 million square feet in 2019 and expand its presence to cities including Chennai, Pune and Hyderabad by the end of next year. The company currently operates 3 million sq.ft. office space across Bengaluru, Mumbai and Gurgaon. “In India, WeWork started the year with...
In a landmark decision, the Haryana Real Estate Regulatory Authority (HRERA) said that all real estate projects will have to mandatorily register with it. The authority asserted that all ongoing real estate projects and those which have been completed come under its purview as per the RERA Act. It said that the only exception would be those which got obtained completion certificate prior to the enactment...
The Supreme Court identified 16 estates belonging to beleaguered property developer Amrapali Group to raise funds for stalled projects. The court directed the sale of assets owned by all of the company's directors, their family members and related companies. The case relates to the embattled Amrapali Group which has failed to hand over possession of flats to around 42,000 homebuyers. The property...
Realty major DLF will now invest over Rs 1,400 crore to develop a commercial project in Gurugram after the firm received the green nod to expand the office space by nearly 1 million square feet area. After the Haryana government increased the floor area ration (FAR) under its new TOD (Transit Oriented Development) policy, the DLF applied for the development of increased build-up area in its ongoing Cyber...
The Haryana government has announced that it has prepared a draft Panchgram Development Authority Bill, for the development of five cities, together labelled as 'Panchagram', on either side of the Kundli-Manesar-Palwal Expressway The Haryana government has decided to develop five new cities along the Kundli-Manesar-Palwal Expressway, minister for industries and commerce, Vipul Goel said, on August 28,...
Haryana’s town and country planning department (DTCP) says it has cancelled the licences of and taken over 15 stalled real estate projects across the state. The step, which comes days after the state-run National Buildings Construction Company (NBCC) was roped in to revive Amrapali’s unfinished projects in Noida, indicates government intervention to rescue troubled real estate projects could no longer...
Realty major DLF is in talks with private equity players to raise funds for the development of a commercial property on 11.76-acre land in Gurugram that it recently bought for about Rs 1,600 crore, a senior company official said on Saturday. India's largest realty firm could dilute up to 50 per cent stake in this 2.5 million sq ft commercial project, DLF's CFO Saurabh Chawla said. In February this year,...
Conceptualized under the Gurugram Master Plan 2021, Dwarka Expressway or the Northern Peripheral Road (NPR) was initially planned to connect Dwarka in Delhi to Palam Vihar in Gurugram. However, it was further extended to the Kherki Daula toll plaza, intercepting NH-48, as per the Master Plan 2025. Stretching along 18 km, this eight-lane and 150-metre-wide Expressway aims to provide seamless connectivity...
Even though the real estate sector in India has witnessed a slowdown in recent times, properties in Delhi-NCR continue to witness interest from buyers, in anticipation of price corrections and owing to demand from the growing migrant population who seek accommodation. Delhi-NCR, hence, continues to be attractive to end-users and investors. According to data from ANAROCK Property Consultants, the housing...