Listen To The Article The RBI held the repo rates constant at 6.5%, which goes against the grain of prevailing predictions. The affordable and mid-segment homebuyers are especially relieved, as they were worried that the increase in the repo rate would make it even more difficult to purchase properties by using house loans. Since May 2022, the RBI has increased the repo rate by 250 basis points,...
Listen To The Article Gurugram Developers want that the city's infrastructure must be upgraded and the stilt-plus-four-floors policy restored. They claimed that because there is such a high demand for residential floors in the city, there is a need for establishing criteria for building, the environment, and other concerns associated with fourth floors. The developers met with P Raghavendra, the...
Listen To The Article The Gurugram administration raising circular rates by up to 30% throughout the district, as a result the property rates in Gurugram are expected to rise. According to the order made by the district collector of Gurugram on April 3, rates for residential, agricultural, and commercial properties in Gurugram tehsil have increased by 20%, while rates in Badshahpur tehsil have...
Listen To The Article The second phase of the structural assessments of highrise residential societies will begin on April 1 as per the decision made by the district administration. This follows a meeting to discuss the issues highlighted in the first phase between (resident welfare associations) RWAs, developers, and auditing agencies at the mini secretariat. Many highrise societies encountered...
Listen To The Article Two separate FIRs have been filed for alleged fraud against Gurugram based reputed real estate developer Vatika Limited and its managing directors. An FIR has been registered at the Sector 10-A police station for Rs 133 crore rupees fraud, while one more has been registered at the Kherki Daula police station for Rs 36 lakh rupees cheating. Both FIRs were filed on the advice...
Listen To The Article The Haryana Real Estate Regulatory Authority (HARERA), Gurugram, has rejected real estate promoter Shree Vardhman Infraheights Private Limited's application for an extension of registration for its group housing project Shree Vardhman Victoria, “over repeated non-compliance” with various rules and the Real Estate (Regulation and Development) Act, 2016. According to...
Listen To The Article The Haryana Real Estate Regulatory Authority (HARERA), Gurugram, has ordered Splendor Landbase Limited to pay delayed possession charges of 10.6 percent interest to buyers in a commercial project after the developer failed to complete construction and deliver units on time. "The accused promoter is ordered to pay the stuck possession charges at the approved rate of...
Listen To The Article The department of town and country planning (DTCP) Gurugram has directed its planning wing officials not to issue occupation certificates (OCs) to residential properties where the owners have built a four-story building plan. According to DTCP officials, many residential plot owners have built four-story buildings despite only receiving approval for two floors. They...
Listen To The Article The Department of Town and Country Planning (DTCP) has overturned its decision to cancel the project licence for an affordable housing project MRG Skyline in Sector 106. Following the cancellation of MRG Skyline's licence in November 2022, DTCP last week wrote to the police requesting an FIR against the developer for violation of norms. According to department...
Listen To The Article The department of town and country planning (DTCP) Gurugram has suspended the licences of three affordable housing projects for failing to comply with their terms and conditions. Ocean Seven Buildtech Private Limited was granted licences in 2016, 2018, and 2019 to develop Expressway Towers in Sector 109, Golf Heights in Sector 69, and The Venetian in Sector 70 Gurugram...