August 2022

Luxury housing in NCR

Luxury Housing Demand Rises In NCR As The Affordable Segment Shrinks

While the affordable housing sector continues to be in decline, the luxury residential market in NCR cities is booming, with a year-on-year increase in its proportion. According to the most recent research by real estate consultants Anarock, the NCR cities had a close to 12% luxury property market share in the first half of the calendar year — a nearly 100% increase from 6% in 2021. In 2019, the...

Capital Gain TAX on property sale

Capital Gain Tax On Property Sales

If you are intended to sell your property, you have to pay capital gains tax on the profit earned after deducting inflation and the indexed cost of acquisition. On the other hand, there are various strategies to reduce the capital gains tax on property sales. Selling a house is a lengthy and time-consuming operation in and of itself; adding to that the fact that you will be taxed on your capital gains...

Shree Vardhman, Gurugram: When Flora’s Builder Fails To Pay Electricity Bills, DHBVN Suspends Power Supply For Two Days

Residents of Shree Vardhman Flora, Sector 90, have filed a complaint with the deputy commissioner against the developer for failing to pay power dues to Dakshin Haryana Bijli Vitran Nigam (DHBVN), despite the fact that they were collected through a pre-paid method. This, they claim, has forced them to rely on DG sets for the last three days, compounding their financial troubles. This comes after the...

Demolition Of Noida Twin Towers

Supertech Claims 500 Crore Loss From The Demolition Of Noida Twin Towers

 RK Arora, Chairman of Supertech, said, "Our overall loss is more than 500 crores. We have invested in land and overall construction costs." The company's chairman, RK Arora, said on Sunday that it has suffered a loss of around 500 crores, including construction and interest costs, as a result of the demolition of its twin towers in Noida. The approximately 100-metre-tall twin towers, Apex and...

Grand Hyatt Gurgaon

Hyatt Celebrates The Grand Hyatt Gurgaon’s Launch

The Grand Hyatt brand makes its arrival in the Indian state of Haryana with the 442-room resort. The Grand Hyatt Gurgaon in Delhi NCR has opened, according to Hyatt Hotels Corporation. The 442-room luxury hotel is the first Grand Hyatt property in Gurgaon, and it is a vibrant luxury destination that will give an inspiring environment to meet, work, celebrate, and stay for both business and leisure...

Real Estate Developer Elan Group

PAG, A Global Fund, Makes A Rs 425mm Investment in Gurugram

Elan Group, based in Gurugram, has purchased two land lots this year in order to develop its commercial real estate business and enter the luxury residential category. PAG, a global alternative investment business, has invested Rs 425 crore in real estate firm Elan Ltd., which will use the funds to develop future projects. Elan Group, based in Gurugram, has purchased two land lots this year in order...

Elan Group make deal with IBREL

Elan Group Completes A 40-Acre Land Transaction in Gurugram, With A Revenue Target of Rs 10k Cr.

Elan Group announced on Friday that it has completed a deal to purchase 40 acres of property in Gurugram from Indiabulls Actual Property and that it may build projects worth Rs 10,000 crore. In January, the company announced the purchase of around 40 acres of property in Gurugram from Indiabulls Actual Property Ltd (IBREL) for Rs 580 crore for the development of housing and business projects. Elan...

DLF

DLF Aims To Sell Rs 2,000-2,500 Crore Per Quarter

DLF is aiming for quarterly sales of Rs 2,000-2,500 crore this fiscal year, with launches planned in Panchkula, Gurgaon, and Goa. The real estate developer, which has already made Rs 3,000 crore from low-rise impartial flooring, is counting on lavish gross sales and aiming for another Rs 2,500 crore from low-rise buildings in Haryana's Panchkula and Gurgaon. Consumers are looking for larger homes...

Omaxe invest in sports

Omaxe Plans To Invest Rs 2,100 Crore In A Sports Complex And Retail Project In Dwarka, Delhi

Omaxe will develop and operate the sports stadium and club for 30 years before handing it up to the DDA. Omaxe Ltd. would invest Rs 2,100 crore in developing a sports complex and a retail project in Dwarka, Delhi, as part of its expansion strategy. The Delhi Development Authority (DDA) has awarded the business a 50-acre project that includes the construction of both outdoor and indoor sports...

Cyber City Metro Line

Egis Rail Group Bids For Gurugram Metro HUDA-Cyber City Line’s DDC Contract

On Monday, Egis Rail Group was declared the sole bidder for the GGNCCDD-01 Detailed Design Consultant contract for Gurgaon Metro's 28.5 km line connecting HUDA City Centre and Cyber City. This elevated new corridor will connect Gurugram and Old Gurugram with 27 stations. The Haryana Cabinet approved the project's final Detailed Project Report (DPR) in August 2020, at a cost of Rs. 6821.13...

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