Tag: Delhi-NCR

IndustryLatest Stories

Builders seek clarity on GST benefits for homebuyers

Consumers across various sectors are eager to enjoy the benefits from the reduced goods and services tax (GST) rates effective Monday. However, homebuyers may need to wait a bit longer. Real estate industry executives have indicated that there is still no clarity on the extent of benefits that will trickle down from cement manufacturers to consumers. Whenever cement prices do decrease, only projects currently in the early stages of construction will reap the rewards. “We are still awaiting concrete information from cement manufacturers regarding the benefits to be passed on to builders. We expect some impact in the first week…

Latest StoriesRegulatory

Delhi: CBI Files FIR Against Signature View Builders, Officials

Sure! Here’s a rewritten version of the content: The CBI has filed an FIR against builders and officials from the DDA, alleging criminal conspiracy and negligence in maintaining quality and structural safety during the construction of the Signature View Apartments located in Mukherjee Nagar, North Delhi. The DDA had previously lodged a complaint regarding construction quality issues in the complex, which consists of 224 High-Income Group (HIG) and 112 Middle-Income Group (MIG) flats divided into three construction phases. According to the CBI, the use of substandard materials has rendered the buildings unsafe for habitation within just ten years of their…

Latest StoriesRegulatory

Delhi HC: MCD’s higher luxury hotel tax not arbitrary

NEW DELHI: The Delhi High Court has stated that the increase in property tax rates for luxury hotels imposed by the Municipal Corporation of Delhi cannot be considered “arbitrary or capricious,” especially when viewed in the context of their target clientele’s economic background. The court explained that luxury hotels actively pursue star ratings, positioning themselves within a niche aimed at affluent customers while providing premium experiences at high prices. Justice Purushaindra Kumar Kaurav, delivering the judgment on September 12 (published on the court’s website on September 16), noted, “The legislative intent behind the higher property tax rates for these establishments…

IndustryLatest Stories

Delhi Civic Body Unveils Easy Property Tax Calculator

NEW DELHI: The Municipal Corporation of Delhi (MCD) has launched a new property tax calculator designed to help residents compute their property taxes easily, eliminating the need for app logins or middlemen. A senior official informed PTI that this user-friendly calculator enables citizens to independently calculate their annual property tax. As part of efforts to enhance digital transparency, it is now accessible on the official MCD portal. This straightforward tool fosters trust by equipping property owners with clear information, thus decreasing their reliance on others and streamlining the entire process for users. Available under the property tax section, once users…

Latest StoriesResidential

Residents leave Signature View flats as DDA offers rent aid

NEW DELHI: Residents of Signature View apartment in Mukherjee Nagar are gradually vacating their homes after the Delhi Development Authority (DDA) began offering monthly rent assistance to those who have relocated. According to the Resident Welfare Association (RWA) of Signature View, families in three-bedroom apartments receive ₹50,000 a month, while those in two-bedroom units receive ₹38,000 monthly. Amrendra Rakesh Singh, president of the RWA, stated, “By the end of August, around 200 families had vacated the building. Approximately 110 families are expected to leave before the court-imposed deadline of October 1.” The apartments are set for demolition after an IIT…

InfrastructureLatest Stories

Delhi Metro Revives 2011 Plan: Dwarka-IFFCO Chowk Route Proposed

GURUGRAM: Almost ten years after its proposal, the Delhi Metro Rail Corporation (DMRC) is revisiting plans to extend metro connectivity from Dwarka to Gurgaon. The proposed extension aims to connect Yashobhoomi station in Dwarka Sector 25 on the Airport Express Line with IFFCO Chowk on the Delhi-Jaipur Expressway. If approved, this would enhance access for commuters traveling from Dwarka to significant employment hubs like Udyog Vihar, Cyber City, Hero Honda Chowk, Subhash Chowk, and various industrial and IT zones in Sector 44. This is particularly vital given the large volume of air passengers in Gurgaon. Currently, there is no efficient…

Latest StoriesResidential

Delhi: 152 DDA Flats Sold Within an Hour in ‘Apna Ghar’ Scheme

Representative image NEW DELHI: All 152 flats released by the Delhi Development Authority’s (DDA) ‘Apna Ghar Awas Yojana’ were booked within an hour of their launch on Friday, projected to generate a revenue of ₹100 crores, according to officials. The DDA offered 152 additional flats on a first-come-first-served basis, which includes 76 middle-income group (MIG) flats at Lok Nayak Puram, block D, and 76 economically weaker section (EWS) flats in Narela’s sector A1-A4, block G. “The scheme elicited a remarkable response from the public, with all additional flats booked within just one hour. To meet the ongoing public demand for…

InfrastructureLatest Stories

Over 6,700 Illegal Structures Found in Faridabad Forests

NEW DELHI: The Supreme Court-mandated Central Empowered Committee (CEC) has reported to the apex court that approximately 6,800 unauthorized structures, including farmhouses, schools, and government buildings, have been constructed on 780 acres of designated forest land in Faridabad, violating the Forest (Conservation) Act of 1980. In an interim report dated August 29, the committee noted that this land is recognized under the Punjab Land Preservation Act (PLPA) of 1900 and spans the villages of Ankhir, Anangpur, Lakkarpur, and Mewla Maharajpur. The committee highlighted that the area exhibits “all the attributes of forest land” as per the 1980 law and cannot…

IndustryLatest Stories

Delhi’s Suniyo property tax scheme raises ₹304 crore in 3 months

NEW DELHI: In just three months, the Municipal Corporation of Delhi’s (MCD) Suniyo property tax amnesty scheme has garnered ₹304 crore—over three and a half times the revenue generated from the previous scheme. The Suniyo (Sampatti Kar Niptan Yojana), which will conclude on September 30, has seen a greater number of taxpayers. Data indicates that 102,142 individuals have utilized the Suniyo scheme thus far, compared to 38,805 participants from the Samriddhi scheme initiated in 2022-2023. The Suniyo scheme has outperformed the earlier Samriddhi scheme, which raised only ₹84.23 crore during the same period last year, as noted by an MCD…

IndustryLatest Stories

PWD Chooses 7 Sites for Delhi Redevelopment Project

NEW DELHI: The Public Works Department (PWD) has identified seven residential land areas for a redevelopment and commercialization initiative through a public-private partnership (PPP) model, officials confirmed on Friday. Officials have selected seven sites – Vikas Bhawan-1 (ITO), Timarpur, Gulabi Bagh, Kalyanvas, Probyn Road, Sindhora Khurd, and Sindhora Kalan, as part of this redevelopment project aimed at addressing future housing needs and optimizing public land usage. “The information regarding land sizes and existing structures at these sites has been provided to the National Buildings Construction Corporation (NBCC). After receiving their PPP proposal, we will proceed with the project,” stated a…