Tag: Delhi-NCR

IndustryLatest Stories

L&T Realty Acquires Delhi Land for ₹200 Crore

Representative AI image NEW DELHI: L&T Realty Developers Ltd (LTRDL), a fully owned subsidiary of Larsen & Toubro (L&T), has acquired a 2.5-acre land parcel in central Delhi for approximately Rs 200 crore, according to two sources familiar with the matter. The Mumbai-based developer, which has been expanding in the National Capital Region through acquisitions in Noida and Gurugram, plans to develop a luxury residential project on this site. This acquisition follows L&T Realty Properties Ltd’s (LTRPL) 100% stake purchase in International Green Scapes Ltd (IGSL), providing access to a 20-acre land parcel in Gurugram with a development potential of…

Latest StoriesRegulatory

Delhi HC: 24,000 flats unavailable for evicted slum dwellers

NEW DELHI: Authorities are relocating slum dwellers from near the Prime Minister’s residence to Savda Ghera, situated 45 km away, despite the existence of over 24,000 homes meant for rehabilitation lying vacant nearby. On Monday, the Delhi High Court demanded explanations from both the Central and state governments regarding the condition of these 24,284 units, many of which are in disrepair and unoccupied. “Shouldn’t we examine the necessity of relocating elderly residents 45 km away when accommodations are available in close proximity? This arbitrariness must be scrutinized… Who is accountable for these unoccupied houses? Both governments have invested nearly Rs…

CommercialLatest Stories

NCR Office Leasing Drops 1% to 7.2M Sq Ft in H1 2026

NEW DELHI: In the first half of 2026, the National Capital Region (NCR) saw gross office leasing reach 7.2 million sq ft, reflecting a slight one percent decrease compared to the previous year, as detailed in a report by Knight Frank India. Office completions amounted to four million sq ft during this timeframe, marking a two percent decline year-on-year. Overall, the total office stock in NCR has risen to 208.1 million sq ft, registering a five percent annual increase. Average transaction rents saw a significant rise of 13 percent year-on-year, reaching ₹106 per sq ft per month in H1 2026.…

Latest StoriesResidential

NCR Housing Sales Drop 7% to 24,862 Units in H1 2026

NEW DELHI: The National Capital Region (NCR) saw residential sales reach 24,862 units in H1 2026, a seven percent decline from 26,795 units in H1 2025, as per Knight Frank India’s report. During the same period, new launches fell by five percent year-on-year, totaling 23,877 units compared to 25,233 units last year. Gurugram led the NCR residential market, representing 50 percent of new launches and 42 percent of total sales in H1 2026. Knight Frank noted that Gurugram’s launch pipeline is predominantly in the premium and luxury segments, with nearly all new projects starting above the ₹2 crore price point.…

IndustryLatest Stories

Delhi CM requests ₹100 crore for unauthorized colonies plan

NEW DELHI: Delhi Chief Minister Rekha Gupta has requested ₹100 crores from the Centre to expedite the implementation of the PM-UDAY scheme, aimed at granting property rights to residents of 1,511 unauthorized colonies in the national capital, as stated in a CMO release on Sunday. In a correspondence with Union Minister for Housing and Urban Affairs Manohar Lal, the Chief Minister emphasized that the department will establish PM-UDAY (Pradhan Mantri Unauthorised Colonies in Delhi Awas Adhikar Yojana) cells across all 13 districts of Delhi, each supervised by an Additional District Magistrate (ADM). She highlighted a proposed allocation of ₹100 crores…

Latest StoriesResidential

1.71 Lakh Homes Sold in Top 8 Indian Cities in H1 2026

Representative AI image NEW DELHI: According to a report from Knight Frank India, India’s eight leading residential markets recorded a total of 171,471 housing unit sales in H1 2026, marking a one percent increase year-over-year. New housing launches reached 187,350 units during the same period, reflecting a four percent annual growth. Total sales for the year 2025 were 348,207 units, slightly lower compared to the previous year. Knight Frank noted that the residential market is entering a phase of late-cycle consolidation, as sales stabilize after a four-year recovery period following the pandemic-induced downturn in 2020. Mumbai continues to lead as…

CommercialLatest Stories

Executive Centre leases 1.15 lakh sq ft in Delhi Aerocity

Representative AI image NEW DELHI: The Executive Centre (TEC) India has secured a lease for 114,954 sq ft of office space at Worldmark 6, Aerocity, Delhi, from Alborz Developers, as per documents obtained from Propstack. The company will occupy the seventh floor under this new lease, effective from March 26, 2026. The monthly rent is approximately ₹2.47 crore, starting at ₹215 per sq ft. Over the nine-year lease period, the total rent is projected to be around ₹309 crore, factoring in scheduled escalations. A security deposit of about ₹14.83 crore has been paid. The lease includes a 15% rent escalation…

Latest StoriesRegulatory

SC: Bank Merger Doesn’t Protect Tenants from Eviction

NEW DELHI: In a landmark ruling, the Supreme Court declared on Thursday that the merger of a tenant bank with another entity does not relieve the transferee bank from eviction under the Delhi Rent Control Act without the landlord’s written consent. Ending a nearly 40-year legal dispute, a bench comprising Justices Sanjay Karol and K Kotiswar Singh ordered Punjab National Bank (PNB) to vacate the tenanted premises at Connaught Circus by January 31, 2027, and return it to the owner, the British Motor Car Company Ltd. The court approved the eviction request from British Motor Car Company, which filed a…

IndustryLatest Stories

Delhi’s Drone Property Survey Pilot Project to Launch Soon

NEW DELHI: The Municipal Corporation of Delhi (MCD) is initiating a pilot project utilizing drones and advanced mapping technologies to enhance property tax assessment. Officials note that this initiative aims to identify properties that have not been assessed or are under-assessed, thereby addressing revenue losses. This pilot project follows the signing of memorandums of understanding (MoUs) with four agencies on June 2, under the “Pilot Drone-based Geospatial Survey and Digital Twin Initiative.” The agencies will independently carry out surveys employing drone-based aerial imagery, LiDAR mapping, GIS asset mapping, Digital Twin technology, 3D city modeling, and advanced data analytics, with no…

IndustryLatest Stories

Delhi CM Orders Probe into Stamp Duty Evasion via GPAs

NEW DELHI: Chief Minister Rekha Gupta has issued stringent orders to address the misuse of power of attorney aimed at avoiding stamp duty. She instructed that all power of attorney documents executed for non-blood relations be reviewed and decisions made by stamp collectors in Delhi within 30 days. This initiative is expected to mitigate revenue loss in immovable property registrations and tackle the land mafia along with irregular practices observed in sub-registrar offices, according to a statement from the Chief Minister’s Office. The General Power of Attorney (GPA) documents granted in favor of individuals outside immediate family (parents, spouses, children,…