Tag: Delhi-NCR

InfrastructureLatest Stories

Delhi lifts ban on power connections for unauthorized properties

NEW DELHI: Chief Minister Rekha Gupta has removed the restrictions on power connections for properties booked by the MCD due to various violations. This decision will benefit approximately 1.25 lakh families in Delhi, officials announced on Monday. The Delhi government has issued an order to provide power connections to these properties, according to a statement from the Chief Minister’s Office (CMO). Gupta highlighted that this decision is in the public interest, reflecting the government’s commitment to ensuring citizens’ rights and access to essential services under any circumstance. The power department has received numerous complaints about discoms (power companies) denying or…

IndustryLatest Stories

Unitech’s Q2 FY26 Loss Shrinks to ₹739 Crore

NEW DELHI: Realty company Unitech Ltd has narrowed its consolidated net loss to ₹738.72 crore for the most recent September quarter. This is a decrease from a net loss of ₹766.76 crore in the same quarter last year. Total revenue rose to ₹151.01 crore in the second quarter of this fiscal year, up from ₹79.94 crore during the previous year, as per a regulatory announcement. In 2020, the company’s board was superseded by the central government following a directive from the Supreme Court. Following this, the Ministry of Corporate Affairs proposed a new board’s formation, which received Supreme Court approval…

Latest StoriesRegulatory

Delhi Court Sends Ocean Seven Chief to 14-Day ED Custody in PMAY Scam

NEW DELHI: On Friday, a Delhi court granted the Enforcement Directorate (ED) a 14-day custody of Swaraj Singh Yadav, the director of Ocean Seven Buildtech Pvt Ltd (OSBPL) in Gurugram, over an alleged money-laundering case. Yadav was presented before Additional Sessions Judge Shefali Barnala Tandon around 2:25 am following his arrest related to money laundering tied to the Pradhan Mantri Awas Yojana (PMAY), a flagship initiative by the Union government. The agency explained that Yadav was brought to the judge’s residence at this unusual hour due to constitutional mandates requiring arrestees to be produced within 24 hours. Launched on June…

InfrastructureLatest Stories

Builders Commit to Compliance as GRAP Stage-III Begins in NCR

NEW DELHI: As air quality in Delhi-NCR deteriorates to ‘severe’ levels, the Commission for Air Quality Management (CAQM) has implemented Stage-III of the Graded Response Action Plan (GRAP), enforcing immediate restrictions on construction and demolition activities in the area. Real estate developers and industry organizations have committed to adhering to these directives, underscoring their environmental responsibility by adopting dust control and pollution reduction measures at all active sites. Pradeep Aggarwal, founder and chairman of Signature Global (India), stated, “Although temporary restrictions on construction may necessitate short-term changes, such actions are vital for promoting environmental sustainability and public health. Our teams…

InfrastructureLatest Stories

Delhi to install CCTV at 524 sites to curb construction dumping

Representative AI image NEW DELHI: In a bid to combat illegal dumping of construction and demolition (C&D) waste in public areas, the Municipal Corporation of Delhi (MCD) will install CCTV cameras at 524 sites across 12 city zones. The Shahdara South zone will host the highest concentration, with 113 locations. Officials discussed the issue at a recent meeting where the Public Works Department (PWD) agreed to provide the cameras, although PWD has not made any comments regarding this decision. “The installation of these cameras will help identify repeat offenders and impose penalties. While our teams conduct inspections, it’s challenging to…

InfrastructureLatest Stories

Centre Implements GRAP Stage-III Restrictions in Delhi-NCR

NEW DELHI: On Tuesday, the Centre enacted stricter anti-pollution measures as part of Stage III of the Graded Response Action Plan (GRAP) in Delhi-NCR after the city’s air quality reached the ‘severe’ category. The decision followed a sharp increase in Delhi’s average Air Quality Index (AQI), which climbed from 362 on Monday to 425 on Tuesday morning. This escalation was attributed to calm winds, stable atmospheric conditions, and unfavorable weather that facilitated the accumulation of pollutants near the ground, according to the Commission for Air Quality Management (CAQM). Stage III measures include a ban on non-essential construction work and the…

CommercialLatest Stories

OpenAI Leases 50-Seater Office with CorporatEdge in Delhi

US-based OpenAI has selected Delhi for its inaugural office in India, leasing a 50-seater space from premium flex workspace provider CorporatEdge, according to two sources familiar with the matter. This August, OpenAI CEO Sam Altman announced plans to establish an office in India. The sources indicated that the company specifically sought a location in Delhi, ruling out the business hubs of Gurugram and Noida. “This deal underscores the significance of AI firms as substantial players in commercial real estate moving forward,” one source remarked. “These companies tend to favor managed office spaces over traditional office setups.” OpenAI did not respond…

IndustryLatest Stories

Anant Raj Q2 FY26 Profit Rises 31% to ₹138 Crore

NEW DELHI: Anant Raj Ltd, a prominent real estate company, announced a 31% increase in its consolidated net profit to Rs 138.18 crore for the quarter ending September 30, 2025, compared to Rs 105.65 crore in the same quarter last year. Total income for the July-September period soared to Rs 640.89 crore, up from Rs 523.75 crore a year earlier, as per a regulatory filing. Anant Raj Ltd is recognized as one of the leading developers in the country, focusing on both residential and commercial developments, including data centers. Published on Nov 9, 2025, at 12:00 PM IST Join the…

Latest StoriesResidential

DDA Begins Phase Two of Jan Sadharan Awaas Yojana

Representative image NEW DELHI: The Delhi Development Authority (DDA) has commenced the second phase of the Jan Sadharan Awaas Yojana housing scheme, providing approximately 1,500 affordable flats in well-connected districts of the city, officials announced on Saturday. Launched on November 7, the scheme targets the low-income group and economically weaker sections (EWS), with flats located in key areas like Shivaji Marg, Ramgarh Colony, Rohini, and Narela. “All flats in Rohini, Ramgarh Colony, and Shivaji Marg were booked on the first day,” the DDA stated. In the first 24 hours, over 1,000 flats were reserved, highlighting continued public enthusiasm and trust…

Latest StoriesRegulatory

NCLAT Halts Mahagun Insolvency, Orders NCLT to Rehear Case

NEW DELHI: In a significant development for the real estate firm Mahagun, the National Company Law Appellate Tribunal (NCLAT) has annulled the insolvency proceedings against it and instructed the NCLT to reconsider the petition in light of a new status report relating to the projects. A two-member bench of the appellate tribunal noted that the NCLT had overlooked crucial guidelines from the Supreme Court’s ruling in the Mansi Brar Fernandes case, which stipulates that insolvency proceedings for real estate should be project-specific. Additionally, the NCLAT acknowledged an intervention request from various homebuyers associated with different Mahagun projects, seeking to overturn…