Tag: Delhi-NCR

Latest StoriesResidential

Subhash Chandra’s Delhi Bungalow Sold for ₹1,260 Crore

NEW DELHI: Subhash Chandra, chairman of Essel Group, has decided to sell a bungalow on Bhagwan Das Road in Delhi to a local business family for ₹1,260 crore, marking one of the priciest property transactions in the nation. Chandra acquired this 2.8-acre property in 2015 for ₹304 crore. “This property was one of the most coveted in Lutyens’ Delhi and is among the select few priced above ₹1,000 crore,” stated a source familiar with the deal. “All formalities and monetary transactions are expected to be finalized by December 30, 2026.” Additionally, a nearby bungalow situated on a 3.2-acre plot is…

InfrastructureLatest Stories

NCR to Develop Four Greenfield Cities by 2041

NEW DELHI: Four new greenfield cities, dubbed ‘Namo Cities,’ will be established as part of the Regional Plan 2041 for the National Capital Region (NCR) to foster balanced regional development. The decision was made during a meeting of the National Capital Region Planning Board (NCRPB), chaired by Union Housing and Urban Affairs Minister Manohar Lal. According to the Regional Plan 2041, the NCR is projected to become increasingly urbanized, with the urban population estimated to reach approximately 57% by 2031 and around 67% by 2041. “During the meeting, it was agreed to develop four greenfield cities, which will be known…

InfrastructureLatest Stories

Delhi’s Crackdown: 217 Properties Razed, 237 Sealed in June

Representative image NEW DELHI: The Municipal Corporation of Delhi (MCD) demolished 14 properties and sealed 25 establishments on Monday as part of an ongoing crackdown on illegal constructions and violations. Inspections by the Revenue Department have exceeded 770 in the past 10 days, officials reported. Since the hotel fire in Malviya Nagar on June 3, the civic body has demolished 217 properties and sealed 237 others as part of this enforcement drive. In this period, the MCD issued 330 show-cause notices for unauthorized constructions, 151 sealing notices, and 91 demolition orders. The Revenue Department’s daily inspection report indicated 29 sites…

Latest StoriesRegulatory

Delhi HC: Can’t demolish homes of residents not relocated yet

NEW DELHI: On Monday, the Delhi High Court ordered that authorities cannot demolish the homes of residents in Race Course slum clusters who have not agreed to alternative housing until July 1. “If they have not voluntarily vacated, you cannot touch them until July 1,” stated Justices Tejas Karia and Madhu Jain during the hearing of an appeal from residents of Bhai Ram Camp, DID Camp, and Masjid Camp. They challenged a previous ruling that denied intervention in their eviction from the area, adjacent to the prime minister’s official residence. The appeal came to the vacation bench following an urgent…

Latest StoriesRegulatory

SC to Hear Plea on Flats Under Subvention Scheme

NEW DELHI: The Supreme Court has agreed to hear a plea urging the Centre to establish a scheme ensuring that if flats under a subvention plan are not delivered to homebuyers, both the lender and builder will share the loss of the loan amount disbursed. Under the subvention scheme, banks directly transfer sanctioned amounts to builders, who are then responsible for covering the EMIs until the flats are delivered. However, when builders default on the EMIs according to the tripartite agreement, banks seek payment directly from homebuyers. A bench consisting of Chief Justice Surya Kant and Justice V Mohana has…

CommercialLatest Stories

Green SM Leases 16,000 Sq Ft Office in Gurugram from Urban Vault

NEW DELHI: Urban Vault has recently facilitated a 16,000 sq ft managed office space for Green SM, the electric ride-hailing service affiliated with Vietnam’s Vingroup, located at Paras Twin Towers, Golf Course Road, Sector 54, Gurugram. This office will act as the operational center for Green SM, which began its operations in India on June 5, 2026, targeting Delhi-NCR as its inaugural market. Urban Vault is currently providing workspace infrastructure with approximately 500 seats for Green SM in Gurugram and Bengaluru, with plans to increase capacity to nearly 1,000 seats by year’s end. “India is a pivotal market for Green…

CommercialLatest Stories

DK Vertex Leases 1 Million Sq Ft in Seven Centers

DK Vertex, a co-working platform, has secured one million sq. ft across seven centers in Delhi-NCR, Bengaluru, and Mumbai. The company is providing 10,000 tech-enabled, customizable seats to cater to the needs of startups and businesses. It features a comprehensive recreational business ecosystem, inclusive of podcast studios, ad shoot spaces, wellness zones, recharge pods, and AI-powered concierge support. India’s flexible workspace market is evolving, with expected growth from USD 307.5 million in 2025 to USD 890.5 million by 2034, reflecting a CAGR of 12.16%. As part of the global tech firm Vertex Group, DK Vertex has received an investment of…

Latest StoriesRegulatory

Delhi: NDMC Extends 10% Property Tax Rebate by June 30

NEW DELHI: The New Delhi Municipal Council (NDMC) announced on Saturday a 10% rebate on property tax for the fiscal year 2026-27. This rebate is available to taxpayers who settle their dues by June 30. The civic body encourages property owners in its jurisdiction to take advantage of this rebate by making timely payments through its online portal or through other approved payment methods. The rebate initiative has been a consistent part of the NDMC’s property tax collection strategy in recent years, aimed at promoting early payments and enhancing revenue collection. A similar 10% rebate was also offered last year…

Latest StoriesResidential

Delhi Govt Considers Mandatory Fire Safety for Low-Rise Homes

NEW DELHI: The Delhi government is considering new bylaws to require fire safety measures, including smoke detectors and fire extinguishers, for low-rise residential buildings, officials announced on Thursday. This initiative follows recent fire incidents in Malviya Nagar, Vivek Vihar, and Palam that resulted in multiple fatalities. The government is looking into mandates for fire safety in residential structures under 15 metres tall, as current regulations do not necessitate fire safety certificates for such buildings, as stated by officials. Currently, fire safety measures like hydrants and smoke detectors are mainly required in high-rise buildings that need fire no objection certificates (NOCs).…

IndustryLatest Stories

DDA Alerts Architects, Engineers & Owners Against Misleading Plans

NEW DELHI: The Delhi Development Authority (DDA) has issued a warning to architects, supervisors, structural engineers, and property owners about the consequences of submitting false information during building plan approvals. This action follows several building collapses in the city. According to the Unified Building Bye-Laws (UBBL) of 2016, providing false information, misrepresenting building plans, hiding material facts, or supplying incorrect certificates can lead to serious penalties. These may include blacklisting, debarment, and other appropriate actions under relevant laws. DDA officials noted that many residential areas are managed by the authority, where plots are being auctioned and apartments constructed. Owners must…