Tag: Delhi-NCR

Latest StoriesRegulatory

NDMC unveils surplus budget for 2026-27; no property tax increase

NEW DELHI: The New Delhi Municipal Council (NDMC) announced a surplus budget for the 2026-27 fiscal year on Wednesday, projecting a net surplus of Rs 143.05 crore. During the budget announcement, the council outlined its intent to install 2,000 CCTVs throughout Lutyens Delhi, while confirming that property tax rates will remain unchanged. Presenting the budget at a special council meeting, NDMC Chairman Keshav Chandra stated that for 2026-27, the council anticipates total receipts of Rs 5,953.07 crore and total expenditure of Rs 5,810.02 crore, continuing its tradition of surplus budgeting. Chandra also highlighted plans for adding over 2,000 CCTV cameras…

IndustryLatest Stories

Freehold Conversion Resumes, Boosting Lutyens’ Delhi Real Estate

Over 100 high-value property transactions in Lutyens’ Delhi may finally be registered this year as the Land and Development Office (L&DO) prepares to approve them under the Union housing and urban affairs ministry. One significant deal includes the Rs 1,100-crore transaction for the first official residence of Jawaharlal Nehru, located at 17 York Road (currently Motilal Nehru Road), which has been on hold due to L&DO’s suspension of converting leasehold properties to freehold. The office has now decided to use Delhi government circle rates for calculating conversion charges starting January 1, 2026. “This is a long-overdue and positive development. Linking…

Latest StoriesResidential

Delhi: DDA Unveils Phase Two of ‘Towering Heights’ Project

NEW DELHI: On Saturday, the Delhi Development Authority (DDA) launched the second phase of its housing initiative, ‘DDA Towering Heights,’ located in Karkardooma. Supervised by NBCC, this premium residential project features a 48-storey tower, reaching a height of 155 metres, making it the tallest residential building in Delhi. “The scheme includes 741 flats available for retail buyers on a First Come First Serve basis, along with 107 flats designated for bulk allocation to government bodies,” a DDA statement indicated. DDA officials announced that the registration for flats will commence on January 8 and conclude in March of this year. “A…

IndustryLatest Stories

Delhi Mayor Urges Clearing Property Tax Dues in Amnesty Scheme

NEW DELHI: Delhi Mayor Sardar Raja Iqbal Singh urged residents to pay overdue property taxes under the Property Tax Amnesty Scheme 2025-26, which includes waivers on interest and penalties. The offer ends on January 31. The Sumpattikar Niptaan Yojana (SUNIYO) allows taxpayers to completely waive property tax, interest, and penalties for dues from before the 2020-21 fiscal year, contingent on payment of the principal tax for the current year (2025-26) and for the previous five years (2020-21 to 2024-25). A late fee of 5% is applicable after the deadline. “We encourage property owners to take full advantage of this opportunity…

CommercialLatest Stories

Delhi-NCR Office Occupancy Set to Exceed 80% by FY27: ICRA

NEW DELHI: The grade-A office market in Delhi NCR is witnessing robust growth, with occupancy levels expected to reach 80.5-81.0% by March 2027, per ICRA, a rating agency. Since March 2023, occupancy has surged significantly, climbing 600 basis points to 78.6% by September 2025. This increase is largely attributed to strong net absorption outpacing new supply over several years. In FY2025, net absorption totaled 11.4 million sq ft, notably exceeding the 7.4 million sq ft of new supply. This trend has continued into the first half of FY2026, with net absorption reaching eight million sq ft compared to 7.3 million…

Latest StoriesResidential

Delhi CM: Poor Families to Get Flat Keys in New Year

File Photo NEW DELHI: The Delhi Government is actively working to not only provide shelter but also ensure a dignified and well-equipped life for residents belonging to the Economically Weaker Sections (EWS), as stated in an official release. Delhi Chief Minister Rekha Gupta highlighted that community amenities are being enhanced in existing EWS residential colonies under the Delhi Urban Shelter Improvement Board (DUSIB). The Government aims to offer more than just housing; it seeks to ensure that the marginalized have access to education, healthcare, sanitation, water supply, green spaces, and employment opportunities. Developing essential and social infrastructure in larger colonies…

IndustryLatest Stories

Delhi’s Baansera Cafe Among 150 Plots Up for E-Auction

NEW DELHI: The Delhi Development Authority (DDA) plans to auction over 150 sites and plots at the end of next month, as part of its efforts to enhance revenue by monetizing vacant lands and assets. The available properties will include residential, industrial, institutional, and group housing projects, as well as commercial spaces, kiosks, and food courts, featuring a café at Baansera. The significant e-auction scheme, introduced on the DDA’s foundation day, will begin registrations on December 30 for plots situated in prime locations. Officials indicate that these sites are categorized under 11 groups and comprise both reclaimed and newly identified…

InfrastructureLatest Stories

Delhi to Add C&D Dumping Sites with CCTV and Mist Sprayers

Representative AI image NEW DELHI: The Municipal Corporation of Delhi is set to identify 14 more construction and demolition (C&D) waste dumping sites, which will be equipped with CCTV surveillance and mist spray systems, according to an official statement made on Friday. Currently, there are 132 such sites in operation, and efforts to locate 14 new sites are ongoing under the Construction and Demolition Waste Management Framework, as confirmed by senior civic officials to PTI. To enhance monitoring and dust control, CCTV cameras with automatic number plate recognition systems and mist sprayers will be installed at all sites. The installation…

IndustryLatest Stories

NBCC India, Delhi Govt Resolve Ghitorni Land Dispute

Representative AI image NEW DELHI: The state-owned NBCC (India) Ltd has finalized a settlement with the Government of National Capital Territory of Delhi (GNCTD) to resolve long-standing litigation regarding a 42.46-acre land parcel in Sultanpur–Ghitorni village, south Delhi. As part of the agreement, the land will be split evenly between NBCC and GNCTD, with the company receiving a 21.23-acre portion. NBCC is set to pay a one-time land premium of ₹135 crore, joined by a lump-sum interest of ₹15 crore, totaling ₹150 crore to the GNCTD’s Land & Building Department for dues related to its share of the land. Additionally,…

Latest StoriesResidential

Developers Embrace Integrated Living as Homebuyers Seek Convenience

Representative image NEW DELHI: Luxury home developers are increasingly integrating high-street retail into residential projects as buyers seek convenience and lifestyle amenities in their living spaces. Builders such as DLF, Hero Realty, M3M, Tribeca, and Central Park are incorporating boutique retail ventures into their developments. According to a JLL study, mixed-use townships account for 35% of residential absorption in major cities by creating a blend of living, retail, office, and entertainment spaces. “Walkable, high-street retail has become an emblem of modern living in Gurugram, but such integrated urban experiences have been rare in New Delhi. Our upcoming high-street retail project…