Tag: Delhi-NCR

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…

IndustryLatest Stories

Delhi to Launch Portal for Investors to Find Land Parcels

NEW DELHI: In a bid to enhance the ease of doing business and simplify land allocation in the national capital, the Delhi government plans to establish a centralized portal to assist investors in identifying suitable land parcels, officials stated. This decision emerged from a recent review meeting led by the Ministry of Home Affairs focused on reducing compliance barriers and streamlining regulations in Union Territories, they mentioned. The portal will be created by the Delhi State Industrial and Infrastructure Development Corporation (DSIIDC), which will receive map-based data support from Geospatial Delhi Limited (GSDL). The IT Division of DSIIDC has been…

Latest StoriesRegulatory

ED Files 22 Cases in Builders-Banks Nexus Investigation

NEW DELHI: The Enforcement Directorate (ED) has initiated 22 cases under the anti-money laundering statutes to probe the alleged “unholy nexus” between builders and banks responsible for defrauding homebuyers in the national capital region (NCR), according to officials. The cases, filed under the Prevention of Money Laundering Act (PMLA), arise from an equal number of FIRs by the CBI issued at the end of July, following directives from the Supreme Court. The ED emphasizes that these cases involve significant public interest, with numerous homebuyers allegedly victimized. Investigations will focus on uncovering fraud, corruption, and money laundering activities by builders, banks,…

Latest StoriesRegulatory

Consumer Forum Holds Parsvanath Liable for Flat Delay

NEW DELHI: The Delhi State Consumer Disputes Redressal Commission has found Parsvanath Developers Limited at fault for inadequate service and unfair trade practices due to a significant delay in delivering a residential flat booked in 2007. Last month, the bench comprising Justice Sangita Dhingra Sehgal (president) and Pinki (judicial member) ordered Parsvanath Developers to immediately hand over the flat and compensate the complainants with a total of Rs 5.5 lakh. The complainants, Nitin Bansal and Amita Bansal, purchased a 3BHK flat from Parsvanath for Rs 27.68 lakh, following a construction-linked payment plan. They signed the flat buyer agreement on April…

IndustryLatest Stories

Delhi: MCD & NDMC Suggest Reforms for Easier Property Tax Assessment

NEW DELHI: In an effort to streamline property tax assessments and minimize citizen harassment, both the Municipal Corporation of Delhi (MCD) and the New Delhi Municipal Council (NDMC) have introduced a series of reforms under the Jan Vishwas (Amendment of Provisions) Bill, 2025. These proposals aim to replace imprisonment and fines with penalties for various infractions under the DMC and NDMC Acts. The bill suggests that the NDMC adopt the unit area method for property tax calculations, moving away from the rateable value approach for all properties in Lutyens’ Delhi. Officials explain that while this method has been in use…

IndustryLatest Stories

Omaxe Reports ₹186 Crore Net Loss in Q1 FY26

NEW DELHI: Omaxe Ltd reported a consolidated net loss of ₹185.77 crore for the first quarter of the current financial year, attributed to a decrease in income. In the same period last year, the company’s net loss was ₹146.98 crore. Total income decreased to ₹298.03 crore for the April-June 2025-26 quarter, down from ₹385.23 crore during the corresponding period in the previous year, as per a recent regulatory filing. Omaxe, a prominent real estate company in India, operates in 30 cities across eight North and Central Indian states, having delivered over 135 million sq ft of area since its establishment.…

IndustryLatest Stories

NBCC Projects Revenue to Hit ₹25,000 Crore by FY28

NEW DELHI: State-owned NBCC Ltd projects its revenue to reach approximately Rs 25,000 crore by 2027-28, which would be more than double its earnings from the previous financial year, bolstered by a substantial order book totaling Rs 1.2 lakh crore. The company, engaged in project management consultancy (PMC) and real estate, offered these insights during a recent conference call with analysts. They outlined revenue forecasts, stating, “This year, we expect Rs 14,000 crore to Rs 15,000 crore. Next year, it will likely be between Rs 18,000 crore and Rs 19,000 crore, and by 2027-28, around Rs 25,000 crore.” For the…

InfrastructureLatest Stories

PM Launches ₹11,000 Crore National Highway Projects

Representative image created by AI NEW DELHI: Prime Minister Narendra Modi inaugurated two key National Highway projects in Delhi on Sunday, namely the Delhi section of the Dwarka Expressway and Urban Extension Road-II (UER-II). These developments are part of the government’s strategy to alleviate congestion in the capital, aimed at enhancing connectivity, reducing travel times, and easing traffic flow within Delhi and nearby regions. Such initiatives embody Prime Minister Modi’s vision for world-class infrastructure that promotes better living standards and seamless transportation. The 10.1 km section of the Dwarka Expressway in Delhi was constructed at an investment of approximately ₹5,360…

Latest StoriesResidential

Delhi: Signature View Apartments’ Construction Faces Further Delays

NEW DELHI: Residents of Signature View Apartments in North Delhi who have yet to vacate the complex designated for demolition recently submitted a request to the Municipal Corporation of Delhi, seeking additional time to leave the premises. The residents’ welfare association for Mukherjee Nagar stated that the occupants were given a deadline of August 10-20 for the disconnection of civic services. Due to challenges in securing alternative rental accommodations, RWA members have requested an extension until October 1 to vacate. In their letter to the deputy commissioner of MCD’s Civil Lines zone, the RWA noted, “In our various communications, the…

Latest StoriesResidential

DDA’s Phase II Property Registration Camps in Unauthorised Colonies on Aug 17

NEW DELHI: The Delhi Development Authority (DDA) is set to launch the second phase of its single window camps on August 17. This initiative aims to assist in the registration of properties located in unauthorized colonies under the Pradhan Mantri Unauthorised Colonies in Delhi Awas Adhikar Yojana (PM-UDAY) scheme. According to officials, these camps are designed to simplify the ownership rights process for residents of unauthorized colonies by providing immediate help with documentation and registration. The camps will be held at ten locations, including Aman Vihar in Burari, Rana Ji Enclave in Najafgarh, Kabir Bhawan in Mahipalpur, Main Jail Road…