Tag: Delhi-NCR

Latest StoriesResidential

Delhi CM promises to transform Bhalswa-Jahangirpuri EWS flats

File Photo NEW DELHI: On Tuesday, Delhi Chief Minister Rekha Gupta reaffirmed her government’s dedication to providing dignified housing for the underprivileged while inspecting the dilapidated EWS flats in Bhalswa-Jahangirpuri. She attributed the neglect of the complex to the previous administration. During her visit, Gupta expressed frustration with the prior government’s inability to fulfill their promises to the city’s lower-income residents. “The Bhalswa flats, which we are examining today, were completed in 2016. From then until 2025, the flats have fallen into disrepair, and not a single unit has been allocated to a poor family. This is a betrayal of…

IndustryLatest Stories

Delhi civic body suggests no property tax hike for FY27.

NEW DELHI: On Friday, Ashwani Kumar, the Municipal Corporation of Delhi (MCD) commissioner, unveiled a budget estimate of Rs 16,531 crore for the fiscal year 2026-27, maintaining no increase in property tax rates or new taxes for the third consecutive year. The corporation highlighted a significant growth in both its taxpayer base and tax revenue this year. By September, the number of property taxpayers rose by 19.8% compared to last year, surpassing the 1.2 million mark. Tax collection saw a 30% increase, yielding Rs 2,270 crore from property tax by September, up from Rs 1,589 crore year-on-year. A major proposed…

Latest StoriesRegulatory

SC: Surging Real Estate Disputes in Delhi, Mumbai Affect Builders

NEW DELHI: The Supreme Court expressed its concerns on Friday regarding the increasing number of homebuyer cases in Delhi-NCR and the re-development projects in Mumbai, noting its adverse impact on the reputation of real estate developers. A bench consisting of Justices J.B. Pardiwala and P.B. Varale was addressing a dispute related to the re-development of a Mumbai housing society. They remarked that the scale of real-estate disputes is alarming in both Delhi-NCR and Mumbai. “This real estate issue is quite serious in these areas. In Delhi-NCR, countless homebuyers are impacted by housing projects, while Mumbai faces challenges with re-development initiatives.…

IndustryLatest Stories

DDA Faces ₹17,000 Crore in Liabilities, 34,000 Flats Unsold

Representative image NEW DELHI: As of March this year, the liabilities of the Delhi Development Authority (DDA) totaled approximately Rs 17,000 crore, the Lok Sabha was informed on Thursday. Union Minister of State for Housing and Urban Affairs, Tokhan Sahu, stated in a written response that the DDA has confirmed that all liabilities are paid promptly. The minister noted that no instances of mismanagement or administrative inefficiency have been observed within the land-owning agency. According to the data provided, DDA’s liabilities amounted to Rs 16,987.98 crore as of March 31, 2025. The agency also updated its housing inventory statistics in…

IndustryLatest Stories

Reforms Boost DDA’s ₹1,500 Crore Plot E-Auction: Delhi Raj Niwas

NEW DELHI: The reforms implemented by Lt Governor V.K. Saxena have significantly increased the revenue of the Delhi Development Authority (DDA). The recent e-auction of plots has yielded bids that exceed the reserve price by more than double, according to a statement from Raj Niwas on Tuesday. The DDA received a total of ₹1,494.67 crore in bids against a reserve price of ₹629.19 crore for 81 plots encompassing residential, commercial, industrial, institutional, and group housing categories, auctioned from November 21 to 27. The industrial sector played a pivotal role, with 41 plots attracting the highest bids of ₹272.39 crore, which…

Latest StoriesResidential

Vasant Kunj Residents Protest Group Housing on Morphological Ridge

NEW DELHI: Residents of B-1, Vasant Kunj, protested at Jantar Mantar on Sunday against the approval of a group housing project proposed on the Morphological Ridge. The project received clearance from the Supreme Court-appointed Centre Empowered Committee, along with NoCs from DDA, MCD, the Airports Authority of India, and the Union Ministry of Environment, Forest and Climate Change, as well as the State Level Expert Appraisal Committee. Protesters carried placards that read “Our Air, Our Right — Not for Sale” and “Building Towers, Burying Lungs,” voicing their opposition to the plans for three 10-storey luxury towers with three-level basements on…

IndustryLatest Stories

Mt K Kapital Unveils $450M Real Estate Fund for Major Cities

NEW DELHI: Mt K Kapital, a real estate investment management firm, has launched its second fund with a target of USD 450 million. This fund receives backing from both general and limited partners. The firm’s objective with this new fund is to invest in projects during the acquisition stage, focusing on locations such as Mumbai, NCR, Pune, and Bengaluru. The target for fund deployment is set for early 2026. Boman Irani, CMD of Rustomjee Group, remarked, “The initial fund, a ₹790 crore MMR-focused initiative, has set a precedent in underwriting, project oversight, and investor relations.” Published On Nov 27, 2025…

Latest StoriesResidential

Luxury Home Prices Surge 40% Since 2022 in Seven Cities

Representative image NEW DELHI: Luxury housing prices across India’s top seven cities have surged by an average of 40% since 2022, significantly outpacing other residential sectors due to persistent demand from high-net-worth individuals, as reported by Anarock Research. The average price for luxury homes (priced above ₹1.5 crore) rose from ₹14,530 per sq ft in 2022 to ₹20,300 per sq ft in 2025. The Delhi-NCR region experienced the highest increase, with prices jumping 72% from ₹13,450 per sq ft to ₹23,100 per sq ft. The Mumbai Metropolitan Region (MMR) and Bengaluru followed closely with increases of 43% and 42%, respectively.…

InfrastructureLatest Stories

GRAP Stage-3 Curbs Lifted in Delhi-NCR as Air Quality Improves

NEW DELHI: The Commission for Air Quality Management (CAQM) lifted the Stage-3 restrictions under the Graded Response Action Plan (GRAP) for Delhi-NCR on Wednesday, as air quality has improved over the past few days. The 24-hour average Air Quality Index (AQI) in Delhi was recorded at 327. Forecasts from the India Meteorological Department (IMD) and the Indian Institute of Tropical Meteorology indicate that the air quality is expected to remain in the “very poor” category. Nevertheless, the CAQM confirmed that measures under Stage-1 and Stage-2 of the revised GRAP, announced on November 21, will continue and will be closely monitored…

Latest StoriesRegulatory

Bankruptcy Court Approves Ansal API Affiliate for Insolvency

The National Company Law Tribunal (NCLT) has initiated the corporate insolvency resolution process (CIRP) for Katra Realtors, following a petition filed by IL&FS Financial Services Ltd. Situated in Delhi, Katra Realtors had acted as a corporate guarantor for Ansal Properties and Infrastructure (Ansal API), which is presently undergoing insolvency proceedings. Ansal API has acknowledged liabilities exceeding Rs 571 crore, and IL&FS Financial Services sought recourse against Katra Realtors due to its corporate guarantee of approximately Rs 23 crore towards Ansal API. The NCLT division, comprised of judicial member Manni Sankariah Shanmuga Sundaram and technical member Atul Chaturvedi, ruled that concurrent…