Tag: Delhi-NCR

Latest StoriesResidential

Kreeva to invest ₹1,050 crore in South Delhi housing project

NEW DELHI: Kreeva, the real estate initiative of Kanodia Group, intends to invest over ₹1,050 crore in a high-end residential project located near New Friends Colony in South Delhi. This venture is supported by a ₹260 crore investment from ASK Property Fund, which is the real estate investment division of ASK Asset & Wealth Management Group. The development will be situated on a parcel of land in South Delhi that was acquired for around ₹350 crore, with construction slated to commence by the end of August 2026. Spanning nearly five lakh sq ft, the project will feature 114 luxury skyvilla…

Latest StoriesRegulatory

Delhi HC directs MCD on removing iron grilles in buildings

NEW DELHI: The Delhi High Court ruled Wednesday that it cannot issue orders on an “omnibus” plea concerning hazardous cage-like iron grille enclosures and illegal projections in residential buildings. These structures reportedly hinder evacuation and rescue efforts during emergencies. Chief Justice DK Upadhyaya and Justice Tejas Karia stated, “It’s akin to asking for the eradication of poverty in India. Such broad requests are beyond our scope; the petition needs to provide specific instances.” The court directed the MCD commissioner to make an informed decision regarding a pending representation from the same petitioner. Petitioner Ashish Jain highlighted that frequent residential fire…

Latest StoriesResidential

Deadline to Apply for Ownership in Delhi’s Unauthorised Colonies: Oct 31

NEW DELHI: The Delhi government has set October 31 as the deadline for filing applications for conveyance deeds and authorization slips necessary for property registry in unauthorized colonies. Officials have stated that no new applications will be accepted after this date. Recently, the revenue department reported only about 2,000 applications from residents of 1,511 unauthorized colonies seeking these documents. A public notice issued on Wednesday indicated that under the PM-UDAY Scheme (Pradhan Mantri Unauthorised Colonies Awas Adhikar Yojana), the cut-off for application submissions is October 31, 2026. Conveyance deeds are granted for developed properties on government land, while authorization slips…

Latest StoriesRegulatory

Delhi Extends Property Tax Rebate Deadline to July 31

NEW DELHI: The Municipal Corporation of Delhi (MCD) has extended the deadline for property owners to secure a 10% rebate on the lump-sum payment of property tax for the fiscal year 2026-27 until July 31, officials announced on Tuesday. Delhi Mayor Pravesh Wahi stated that the extension aims to benefit more taxpayers, particularly those who were unable to pay their property tax by the original deadline. Initially, the rebate was available for payments made by June 30. Wahi emphasized that this decision is designed to ease the tax payment process for residents and promote timely payments of property taxes. “This…

IndustryLatest Stories

Institutional Investments in Indian Real Estate Jump 37% to $1.7B

NEW DELHI: Institutional investments in Indian real estate surged 37% year-over-year to $1.7 billion in Q1 2026, primarily driven by the acquisition of core income-generating assets, as noted in a recent report by Equirus Capital. The report highlights that ongoing activity in private equity investments, mergers and acquisitions, and capital market transactions showcases investors’ preference for quality real estate platforms amidst global economic uncertainties. Strong institutional participation was observed in premium residential developments, Grade-A commercial properties, integrated mixed-use projects, and infrastructure-led growth corridors. Delhi-NCR stood out as a significant real estate investment hub, buoyed by demand for premium housing, commercial…

Latest StoriesResidential

NCR Housing Launches Dip 40% in Q2 2026; Sales Down 6%

NEW DELHI: In Q2 2026, the National Capital Region (NCR) saw housing sales surpass new launches, even as fresh supply sharply declined, as per Anarock Research. The quarter recorded 11,205 new residential launches, which is a 40% decline from 18,760 units in Q2 2025. Meanwhile, housing sales decreased by 6% year-on-year, totaling 13,365 units compared to 14,255 the previous year. Available inventory in NCR remained relatively stable at 89,086 units at the end of Q2 2026, slightly up from 89,005 units a year prior. Anarock noted that NCR was the only market among the top seven cities that maintained a…

CommercialLatest Stories

Delhi Builder Abandons Decades-Long Commercial Project

Representative AI image NEW DELHI: After more than thirty years of failing to construct and deliver promised commercial units in Plaza-4 of the Central Square Complex at Bara Hindu Rao, the builder has notified Delhi RERA that it is unable to complete the project and has effectively “abandoned” it due to a lack of sanctioned building plans. According to a Delhi RERA order dated May 12, recently uploaded to its website, the attorney for Purearth Infrastructure Ltd stated this during a hearing involving complaints from three buyers. The builder’s counsel indicated their willingness to refund allottees as per the RERA…

InfrastructureLatest Stories

MCD Surveys 28 Lakh Delhi Buildings, Marks 19 as ‘Dangerous’

NEW DELHI: The Municipal Corporation of Delhi (MCD) has identified just 19 dangerous structures among nearly 28 lakh buildings surveyed so far during its annual pre-monsoon inspection, raising concerns about the exercise’s effectiveness. Although the survey typically wraps up by June 15, MCD claims it has completed around 85% of the task, inspecting approximately 27.8 lakh properties against a target of 32.5 lakh for this year. This survey, which spans 3-4 months, is executed annually before the monsoon by teams from the buildings and maintenance departments. If initiated in March, at least 30,000 buildings would need to be surveyed daily.…

CommercialLatest Stories

Hero MotoCorp, WeWork Lease 3.45 Lakh Sq Ft in Delhi’s Worldmark 6

Representative AI image NEW DELHI: Hero MotoCorp and WeWork India Management have signed leases for approximately 345,000 sq. ft. of office space at Worldmark 6 in Aerocity, Delhi, sourced from Alborz Developers, as noted in Propstack documents. The total estimated rental expenditure over the lease duration is around ₹922 crore. Hero MotoCorp will occupy 231,109 sq. ft. across the ground, second, fifth, and sixth floors of Worldmark 6 with a nine-year lease beginning March 1, 2026. The monthly rent is set at about ₹4.97 crore, calculated at ₹215 per sq. ft. per month, totaling approximately ₹593.8 crore for the lease…

InfrastructureLatest Stories

NCR to Develop 4 New Cities Along RRTS Corridors for Housing

The National Capital Region Planning Board (NCRPB) has proposed the development of four new greenfield cities along the Rapid Rail Transit System (RRTS) corridors, which experts believe will enhance affordability in the NCR’s real estate market. The initiative identifies the KMP–Eastern Peripheral Expressway area as Central NCR’s Ring of Opportunity, ensuring formal notification for all non-notified land within the CRE-I boundary. This new framework ends a lengthy period of regulatory uncertainty for land located between the jurisdictions of Delhi, Haryana, and Uttar Pradesh, offering a structured path for FAR and land use permissions for the first time. “NCR is expected…