Tag: Delhi-NCR

Latest StoriesResidential

DDA to Host Weekly Camps for Housing Conversions in Delhi

Representative image NEW DELHI: The Delhi Development Authority (DDA) is set to launch weekly special camps aimed at expediting the processing of housing conversion cases. Starting October 23, these camps will take place at the DDA auction hall on the ground floor of Vikas Sadan from 2:30 PM to 4:30 PM. Initially, they will be centralized at this location, but DDA is open to hosting future camps in residential areas upon request from housing societies. The primary goal is to efficiently resolve leasehold-to-freehold conversion matters. The DDA stated, “To accelerate the clearance of pending housing conversion cases, public camps will…

CommercialLatest Stories

Awfis targets 30% growth in FY26, seeks 40% non-core revenue

NEW DELHI: Awfis Space Solutions is set for significant growth in FY26, targeting a 30% increase in revenue, with aims to surpass ₹1,600 crore. The company anticipates adding about 40,000 new coworking seats in approximately 70 centers across India, leveraging its strategy of establishing medium-sized centers averaging 30,000 sq ft each. Rent for their flagship offering ranges from ₹8,000 to ₹20,000 per seat per month, depending on the location and product tier. Awfis boasts an impressive EBITDA margin guidance of 14%, with a strong return on capital employed (RoCE) of around 67%. The company maintains a nearly net-cash position with…

Latest StoriesResidential

Register for DDA Plot E-Auction Starting October 27

NEW DELHI: The Delhi Development Authority (DDA) will launch registration on October 27 for an e-auction featuring nearly 100 plots in key city locations. Officials indicate that the plots are categorized into six types, including newly-identified and reclaimed land. The upcoming e-auction includes 17 residential plots in Rohini and Rajendra Nagar, 11 institutional plots (including religious purposes) in Rohini, 18 commercial plots in Pitampura, 44 industrial plots in Kirti Nagar, Mangolpuri, and Okhla, one CNG station plot in Yamuna Vihar, and two group housing plots in Dwarka and other areas. “Prior to 2022, the e-auction process was held quarterly based…

Latest StoriesResidential

DDA Opens Registrations for 48-Storey East Delhi High Rise

Representative image NEW DELHI: The Delhi Development Authority (DDA) announced on Friday the opening of registration for flats in its under-construction project, “DDA Towering Heights,” located in Karkardooma. The registration period will run from October 31 to November 21. In the initial phase, the DDA is offering a total of 1,026 premium two-bedroom-hall-kitchen (BHK) apartments, with base reserve prices between Rs 1.78 crore and Rs 3.09 crore. The flats range from 142 sqm to 250 sqm in plinth area. “Spanning 30 hectares, the East Delhi Hub is being designed as a high-quality mixed-use urban center, integrating residential, commercial, and civic…

Latest StoriesRegulatory

Delhi HC denies extension for Signature View apartment vacate

NEW DELHI: Residents of Signature View Apartments made a last-ditch effort to prolong their vacate deadline, but the Delhi High Court rejected their plea on Tuesday, stating, “We will not put our seal at your risk.” A bench consisting of Chief Justice DK Upadhyaya and Justice Tushar Rao Gedella noted the Supreme Court had previously identified the buildings as dilapidated. “In light of the Supreme Court’s order from October 10, we cannot grant any time extension,” the bench stated, dismissing the appeal from nine residents who sought a grace period under the court’s “mercy” jurisdiction. “If we grant more time…

Latest StoriesResidential

Delhi Cuts Water, Power at Signature View Apartments Over Eviction

Representative AI image NEW DELHI: The Municipal Corporation of Delhi (MCD) has ceased the electricity and water supply to Signature View Apartments after the court-imposed deadline expired, leaving approximately 51 residents still in the building, according to officials on Monday. Located in North Delhi’s Mukherjee Nagar, this housing complex, constructed between 2007 and 2009 and allocated under a Delhi Development Authority (DDA) scheme by 2011-12, has significantly deteriorated structurally over the years. “We urge the remaining residents to vacate the premises as soon as possible,” stated Amrendra Singh Rakesh, President of the Resident Welfare Association (RWA). He noted that many…

Latest StoriesRegulatory

Delhi HC Denies Restraining Property Sale Amid Frivolous Case

NEW DELHI: The Delhi High Court has stated that frivolous cases filed against a property cannot be used as a “weapon of harassment,” allowing an owner with a contested building to proceed with its sale or transfer. “The law acknowledges that courts possess the authority, in suitable cases, to exempt properties from the constraints of Section 52 of the Transfer of Property Act. This exemption serves to protect genuine property owners from being ensnared in vexatious, frivolous, or bad faith litigations,” remarked Justices Anil Kshetarpal and Harish V Shankar in a recent ruling. The court also levied a penalty of…

IndustryLatest Stories

Embassy Developers’ Promoters Inject ₹1,160 Crore Funds

Here’s a revised version of your content: NEW DELHI: Embassy Developments (EDL) announced that its promoters have successfully completed the subscription of 100% of warrants through the final tranche amounting to ₹67.7 crore, resulting in a total promoter capital infusion of ₹1,160 crore. This investment was made by converting warrants into equity shares at a price of ₹111.51 per share. The funds will be utilized to bolster the balance sheet, finalize ongoing projects, and support future expansion initiatives in key markets. Rajesh Kaimal, Chief Financial Officer of EDL, stated, “With a strengthened equity base, we are well-positioned to enhance project…

Latest StoriesResidential

Delhi Residents Leave Signature View Apartments as Deadline Passes

NEW DELHI: Several residents of Signature View Apartments vacated the premises on Sunday, the final day of the court-mandated deadline. The Resident Welfare Association (RWA) of Signature View in Mukherjee Nagar stated that with the deadline passed, residents must leave the buildings. “As the MCD has previously indicated that water and power services will be cut off after October 12, many residents are departing today. We will have the final count by tonight,” said RWA president Amrendra Singh Rakesh in a statement to PTI. Located in North Delhi’s Mukherjee Nagar, the housing complex was constructed between 2007 and 2009 and…

InfrastructureLatest Stories

DDA Requests IIT, DTU Help After Dwarka Basement Flooding

NEW DELHI: The Delhi Development Authority (DDA) has enlisted the technical expertise of IIT Delhi and Delhi Technological University to investigate the recent flooring damage and groundwater discharge in the basement of Triveni Apartments, located in Dwarka’s Sector 16B. The DDA has requested both institutions to deploy teams for on-site inspections and to provide a detailed report. “We expect them to visit the site this week and deliver a tentative timeline for their findings,” noted a DDA official. DDA teams are reportedly conducting daily visits to the site, with plans for long-term engagement with one of the government institutes to…