Tag: Delhi-NCR

Latest StoriesResidential

1,400 Flats in Kathputli Colony to be Ready by March: DDA

NEW DELHI: The Delhi Development Authority (DDA) has announced that 50% of the 2,800 flats at Kathputli Colony are nearing completion and will be allocated to allottees within this financial year. This initiative marks the first in-situ rehabilitation project in Delhi. Officials stated that the concessionaire has submitted requests for the fire safety NoC and other necessary approvals to commence the allotments of the 1,400 EWS flats. “The fire department has identified a few deficiencies that the builder is currently addressing. Work to secure utility connections and permissions is ongoing. Once we receive the clearances, the flats will be allotted…

IndustryLatest Stories

Sobha Sees 61% Surge in Q2 FY26 Sales to ₹1,902.6 Crore

NEW DELHI: Real estate firm Sobha Ltd reported a 61% increase in sales bookings, reaching ₹1,902.6 crore in the second quarter of this fiscal year, fueled by strong demand for its residential properties. In the same period last year, the company achieved property sales worth ₹1,178.5 crore. According to a regulatory filing, Sobha Ltd sold 13.94 lakh square feet during the July-September quarter, with an average price of ₹13,648 per square foot. Bengaluru accounted for 69.7% of the quarterly sales, amounting to ₹1,326.4 crore, aided by increased momentum at the SOBHA Town Park project. Delhi-NCR contributed ₹309.7 crore, while the…

Latest StoriesResidential

Delhi: Signature View Apartments to Face Power, Water Outage

NEW DELHI: Civic agencies are set to terminate essential services, including water and electricity, to Signature View Apartments on October 13. During a meeting held by the MCD on Monday, it was revealed that the Delhi High Court has mandated a deadline for residents to vacate by October 12. Under the leadership of Civil Lines zone deputy commissioner Anshul Sirohi, instructions were given to Tata Power Delhi Distribution Limited (TPDDL) to finalize disconnection of electricity by October 13, along with a directive to the Delhi Jal Board (DJB) to suspend water services. Police officials from Mukherjee Nagar were asked to…

IndustryLatest Stories

Delhi Government Starts Circle Rate Revision, Invites Feedback

NEW DELHI: The Delhi government has initiated the process to revise land circle rates in the city and is inviting public suggestions on this matter, officials announced on Wednesday. The last revision of circle rates in Delhi occurred a decade ago in 2014. “The Government of NCT of Delhi is currently revising the circle rates (minimum property valuation rates) for various property categories across Delhi,” stated a circular released on Wednesday by the revenue secretary and divisional commissioner. This revision aims to align the notified rates with current market conditions and promote transparency in property transactions, the circular noted. The…

CommercialLatest Stories

Net Office Leasing Jumps 35% in Top 8 Cities: C&W

Certainly! Here’s a rewritten version of the provided content: — NEW DELHI: Net leasing of office spaces rose by 35% across eight major cities in the July-September quarter, reaching 16.25 million sq ft, driven by increased demand from both domestic and international companies, as reported by Cushman & Wakefield. According to data from the real estate consultant Cushman & Wakefield, office space leasing experienced growth in cities such as Delhi-NCR, Chennai, Hyderabad, Pune, Kolkata, and Ahmedabad. However, Mumbai and Bengaluru saw a decline in net demand. Net absorption, a crucial measure of real estate demand, reflects the net change in…

Latest StoriesRegulatory

Delhi extends property tax amnesty scheme by 3 months with fees

NEW DELHI: The MCD has announced a three-month extension for its Sumpattikar Niptaan Yojana (SUNIYO) 2025-26, now valid until December 31, officials reported on Friday. This one-time property tax amnesty scheme was originally set to expire on September 30. While the terms and conditions will remain unchanged, a 2% late fee on the principal tax amount will apply for payments made between October 1 and December 31. Since its launch on June 1, SUNIYO has drawn in 1.16 lakh taxpayers, generating Rs 370.27 crore in revenue. Notably, 65,874 new taxpayers have paid property tax for the first time through SUNIYO,…

Latest StoriesResidential

Gentex Acquires Lutyens’ Bungalow for ₹310 Crore

Representative Image Gentex Merchants Pvt Ltd, associated with Lakshmi Mittal, has acquired a 3,540 square yard bungalow on APJ Abdul Kalam Road in the prestigious Lutyens’ Bungalow Zone of Delhi for Rs 310 crore. This property was previously owned by Yashwant Singh, a member of the Alwar royal family in Rajasthan. Singh recently purchased an 867 square meter bungalow in Golf Links for Rs 100 crore. According to the sale deed obtained by RealtyDailyNews, Gentex Merchants paid Rs 21.7 crore in stamp duty for the deal, which was registered in June. The company has not responded to RealtyDailyNews’s email inquiry…

InfrastructureLatest Stories

Delhi CM Calls on LG to Fast-Track Master Plan 2041

NEW DELHI: On Wednesday, Delhi Chief Minister Rekha Gupta called on Lieutenant Governor VK Saxena to expedite the “delayed” ‘Master Plan 2041’ to address the city’s growing demands. During the launch of initiatives under the Gramodaya Abhiyan, Gupta emphasized that the new master plan should effectively tackle current developmental challenges while also benefiting future generations for the next century. Gupta noted that the Delhi Development Authority (DDA) is currently working on the master plan, stating, “It should be ready soon. The Delhi government is prepared to approve anything that serves the interests of our citizens.” Upon taking office in February,…

Latest StoriesRegulatory

SC Lets CBI Open Six More Cases in Builder-Bank Nexus

NEW DELHI: On Tuesday, the Supreme Court permitted the CBI to initiate six additional regular cases concerning the fraudulent connections between banks and developers, which have deceived homebuyers in real estate projects across Mumbai, Bengaluru, Kolkata, Mohali, and Prayagraj. A bench consisting of Justices Surya Kant, Ujjal Bhuyan, and N Kotiswar Singh granted the CBI the authority to proceed legally after Additional Solicitor General Aishwarya Bhati, representing the agency, indicated that the preliminary inquiry into various builders, excluding Supertech Ltd, has been completed. The court acknowledged the CBI’s assertion that a cognizable offense has emerged from the preliminary inquiry and…

Latest StoriesRegulatory

ED Searches Imperial Group Premises in Himachal, Delhi

The Directorate of Enforcement (ED) in Shimla has conducted searches at six locations in Himachal Pradesh and Delhi as part of an ongoing investigation into the Delhi-based Imperial Group. According to an ED statement released on Sunday, the properties belong to Manavinder Singh, chairman of the Imperial Group, his wife Sagri Singh, and their associates. The searches, conducted on September 19 and 20, were executed under the Foreign Exchange Management Act (FEMA) of 1999. They focused on alleged undisclosed foreign assets, unreported investments, and financial interests tied to Manavinder Singh, his wife, and companies associated with the Imperial Group. The…