Tag: Delhi-NCR

Residential

DDA seeks to make parking allocation in housing projects fair

NEW DELHI: Delhi Development Authority has released comprehensive policy guidelines to ensure transparency, fairness and efficiency while marking parking spaces for the flats allotted under its housing schemes. According to DDA, the policy considers the specific requirements of different flat categories and the needs of persons with disabilities (PwD) as well as cases requiring special attention on genuine medical grounds. “This policy applies to all housing schemes where parking spaces are limited and must be allocated among residents of various flat categories such as LIG, MIG, HIG, etc. Earlier, we had a policy that was not comprehensive enough to serve…

Regulatory

Delhi civic body makes user charge optional for property tax payments from June 1

NEW DELHI: In a relief to property taxpayers in Delhi, Municipal Corporation of Delhi has updated its property tax portal to make the controversial ‘user charge’—a garbage collection fee—optional. This move aims to resolve confusion that had prevented many from paying their taxes in advance and allows taxpayers to continue availing a 10% discount on early payments, valid until June 30. The user charge had been added to property tax bills from April 1 under solid waste management regulations. A base fee of Rs 600 was imposed on residential properties, while commercial establishments faced substantially higher rates. The inclusion of…

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Delhi government mandates anti-smog guns for all high-rise buildings

File Photo NEW DELHI: The Delhi government has made it mandatory for all high-rise commercial, institutional, and hospitality buildings to install anti-smog guns to combat pollution levels in the national capital, according to an official directive. Delhi Environment Minister Manjinder Singh Sirsa said the number of anti-smog guns required will depend on the building’s built-up area. At least three anti-smog guns are required for buildings with a built-up area of less than 10,000 square metres. The number increases progressively, with one additional gun required for every 5,000 square metres beyond 25,000 square metres, he said. He further elaborated that for…

Industry

Centre set to push amendments to DDA, to give fillip to land pooling policy

The Centre is all set to push amendments to the Delhi Development Act, 1957, to give a fillip to the Land Pooling Policy and involve private developers in vertical development in 129 sectors spread across 104 urbanised villages of the capital. With the BJP government taking charge of Delhi, the Centre has decided to bring focus back to the long-pending Land Pooling Policy which, though notified in 2013 and 2018, has not been operationalised. The Centre is planning to push amendments to the Delhi Development Act which will make land pooling mandatory for all residents if a certain percentage —…

Industry

NBCC India’s net profit rises 29.10% in Q4 FY25

NEW DELHI: NBCC India has reported a growth of 29.10 per cent in its net consolidated profit during the quarter ended March 31, 2025. Its profit after tax stood at ₹182.66 crore in Q4 FY25 as against ₹141.49 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company’s net consolidated total income stood at ₹4,700.86 crore in Q4 FY25, a growth of 16.14 per cent from ₹4,047.67 crore it recorded in the similar quarter last year. The board of directors recommended a final dividend @14 % i.e. ₹0.14 per paid…

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County Group acquires 13.3-acre land in Wave City NH24, Ghaziabad for ₹400 crores

Representative Image NCR-based realty developer County group has acquired 13.3-acre land in Wave City NH24 in Ghaziabad for around Rs 400 crore, according to people familiar with the development. The smart city by Wave group is adjacent to NH-24 and spans over 4,200 acres and the firm had earlier sold land parcels to realty developers to raise fund. The company plans to develop 1,000 residential units across four apartment sizes, with total area spreading over 3 million square feet. “Buyers are keen to invest on the projects by the developer since previous projects by the developer have consistently yielded significant…

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Delhi court orders FIR against Parsvnath Developers for 17-year delay in constructing shop

NEW DELHI: A Delhi court has directed the registration of an FIR against Parsvnath Developers for a 17-year delay in constructing a shop in a mall in Sector 10, Rohini, for which the customer allegedly paid Rs 33.5 lakh. This is the eighth FIR to be lodged against the company and its directors for allegedly duping various people who paid for residential and commercial properties. The court of additional sessions judge Dhirendra Rana of Rohini Court was hearing a revision petition filed by a complainant, Amrit Pal Singh Malhotra, against a magistrate court order that refused to file an FIR…

Industry

Ultra rich betting on trophy properties to preserve wealth

Representative Image The country’s leading industrialists, promoters, and family offices are increasingly turning to trophy properties for wealth preservation and legacy building, betting on luxury real estate as a resilient asset class that offers a combination of capital appreciation, privacy, and intergenerational value. From Worli’s skyline-defining towers and the tree-lined avenues of Carmichael Road in Mumbai to sprawling colonial-era homes in New Delhi’s Lutyens’ Bungalow Zone, the real estate market in prime areas of major Indian cities has seen the ultra-wealthy close deals exceeding Rs 25,000 crore over the last three years. This is up around 90% over the previous…

Industry

NBCC’s Kidwai Nagar project caught in GST crossfire between ministries

A demand for goods and services tax (GST) from Navaratna NBCC’s escrow fund has had the Urban Development Ministry at loggerheads with the Finance Ministry. The issue relates to a redevelopment project at Kidwai Nagar in the national capital. The Directorate General of GST Intelligence (DGGI) sought GST on the escrow fund maintained for the redevelopment of Kidwai Nagar project in the national capital from NBCC, the government’s building arm for civic amenities and housing, ET has learnt. The GST demand notice was issued on January 29 on the grounds that lease receipts collected by NBCC under an escrow mechanism…

Commercial

Retrofitting can unlock ₹1.2–1.6 lakh crore in asset value across Indian offices: CBRE

NEW DELHI: India’s ageing office stock presents a significant value creation opportunity, with strategic retrofitting capable of unlocking up to ₹1.2–1.6 lakh crore in capital value, according to a recent report by CBRE South Asia. The report estimates that such upgrades could drive 25–40% asset value enhancement in key commercial micro-markets. To realise this potential, the total investment required is estimated between ₹30,000–40,000 crore, depending on the scale and scope of enhancements. This includes structural upgrades, façade modernisation, HVAC optimisation, ESG compliance, and the addition of employee-centric amenities. The report adds that well-executed retrofits can offer a 3–5 year payback…