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...
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...
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...
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...
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...
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...
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...
The Union Cabinet has authorised the extension of the major urban housing scheme, the Pradhan Mantri Awas Yojana (Urban), till December 31, 2024. The original deadline for the scheme was March 2022, which was introduced in 2015 with the goal of providing affordable homes with incentives. It was established with the purpose of providing affordable homes for all by the year 2022. Since 2015, the total...
In Gurugram, only 93 real estate projects have been finished since 1992, according to a report released by the Town and Country Planning department. 14 licenced colonies are either being prosecuted or are embroiled in licence problems, and another 21 permits have been cancelled. All of this information was made public during the recently concluded monsoon session of the Haryana Legislative...
Air India is in negotiations to lease about 400,000 square foot. of office space at Vatika's office complex in Gurugram, Haryana. The airline has already signed a letter of intent (LoI) for an approximate 2 lakh sq. ft. area with the option of increasing the space in the future. Air India is apparently planning to shift all offices to this building. Other airline companies like Tata Airlines, Vistara,...