Tag: Delhi-NCR

Latest StoriesRegulatory

ED Raids Angle Infrastructure, RP & Nauseva Buildwell in Delhi-NCR

CHANDIGARH: The Directorate of Enforcement (ED) from Gurugram Zonal Office conducted search operations in the Delhi-NCR region on Friday, targeting M/s Angle Infrastructure Pvt. Ltd., the resolution professional, and Nauseva Buildwell LLP along with its partners, under the Prevention of Money Laundering Act (PMLA), 2002. The searches were initiated based on evidence suggesting potential collusion during the Corporate Insolvency Resolution Process (CIRP) of the corporate debtor, resulting in the seizure of Rs 33 lakh in unexplained cash and various digital devices. The ED’s investigation was prompted by FIRs filed by Gurugram Police and the Delhi Economic Offences Wing, citing allegations…

InfrastructureLatest Stories

DDA Demolishes Illegal Farmhouses in Sainik Farms, Recovers 4.5 Acres

NEW DELHI: On Friday, the Delhi Development Authority (DDA) conducted a demolition operation in Tilpath Valley, located in the Sainik Farms area of south Delhi, targeting illegal constructions on land designated for a biodiversity park. Officials confirmed that the demolished structures were not protected under the National Capital Territory of Delhi (Special Provisions) Act, 2014, which typically shields jhuggi jhopri (JJ) clusters from demolition. The action specifically took place on Khasra numbers 595, 596, and 620. During an initial phase of the operation on December 5, nine properties were identified by the DDA. Out of these, five properties—including two fully…

IndustryLatest Stories

Bhumika Group to invest ₹700 crore in Faridabad project

NEW DELHI: Bhumika Group has unveiled a mixed-use project named The Icon in Faridabad, with a substantial investment of ₹700 crore and an anticipated sales revenue of around ₹1,500 crore. The development will consist of 88 upscale low-density residential units in 3BHK + study configurations, as well as staff accommodation. The overall construction phase is projected to last four years and three months, with all 88 residential units included in the initial launch. Phase II will introduce a hotel tower with suites. Residential units are priced at ₹15,500 per sq. ft., and retail spaces are available for lease at ₹200–250…

Latest StoriesResidential

Delhi CM promises to transform Bhalswa-Jahangirpuri EWS flats

File Photo NEW DELHI: On Tuesday, Delhi Chief Minister Rekha Gupta reaffirmed her government’s dedication to providing dignified housing for the underprivileged while inspecting the dilapidated EWS flats in Bhalswa-Jahangirpuri. She attributed the neglect of the complex to the previous administration. During her visit, Gupta expressed frustration with the prior government’s inability to fulfill their promises to the city’s lower-income residents. “The Bhalswa flats, which we are examining today, were completed in 2016. From then until 2025, the flats have fallen into disrepair, and not a single unit has been allocated to a poor family. This is a betrayal of…

IndustryLatest Stories

Delhi civic body suggests no property tax hike for FY27.

NEW DELHI: On Friday, Ashwani Kumar, the Municipal Corporation of Delhi (MCD) commissioner, unveiled a budget estimate of Rs 16,531 crore for the fiscal year 2026-27, maintaining no increase in property tax rates or new taxes for the third consecutive year. The corporation highlighted a significant growth in both its taxpayer base and tax revenue this year. By September, the number of property taxpayers rose by 19.8% compared to last year, surpassing the 1.2 million mark. Tax collection saw a 30% increase, yielding Rs 2,270 crore from property tax by September, up from Rs 1,589 crore year-on-year. A major proposed…

Latest StoriesRegulatory

SC: Surging Real Estate Disputes in Delhi, Mumbai Affect Builders

NEW DELHI: The Supreme Court expressed its concerns on Friday regarding the increasing number of homebuyer cases in Delhi-NCR and the re-development projects in Mumbai, noting its adverse impact on the reputation of real estate developers. A bench consisting of Justices J.B. Pardiwala and P.B. Varale was addressing a dispute related to the re-development of a Mumbai housing society. They remarked that the scale of real-estate disputes is alarming in both Delhi-NCR and Mumbai. “This real estate issue is quite serious in these areas. In Delhi-NCR, countless homebuyers are impacted by housing projects, while Mumbai faces challenges with re-development initiatives.…

IndustryLatest Stories

DDA Faces ₹17,000 Crore in Liabilities, 34,000 Flats Unsold

Representative image NEW DELHI: As of March this year, the liabilities of the Delhi Development Authority (DDA) totaled approximately Rs 17,000 crore, the Lok Sabha was informed on Thursday. Union Minister of State for Housing and Urban Affairs, Tokhan Sahu, stated in a written response that the DDA has confirmed that all liabilities are paid promptly. The minister noted that no instances of mismanagement or administrative inefficiency have been observed within the land-owning agency. According to the data provided, DDA’s liabilities amounted to Rs 16,987.98 crore as of March 31, 2025. The agency also updated its housing inventory statistics in…

IndustryLatest Stories

Reforms Boost DDA’s ₹1,500 Crore Plot E-Auction: Delhi Raj Niwas

NEW DELHI: The reforms implemented by Lt Governor V.K. Saxena have significantly increased the revenue of the Delhi Development Authority (DDA). The recent e-auction of plots has yielded bids that exceed the reserve price by more than double, according to a statement from Raj Niwas on Tuesday. The DDA received a total of ₹1,494.67 crore in bids against a reserve price of ₹629.19 crore for 81 plots encompassing residential, commercial, industrial, institutional, and group housing categories, auctioned from November 21 to 27. The industrial sector played a pivotal role, with 41 plots attracting the highest bids of ₹272.39 crore, which…

Latest StoriesResidential

Vasant Kunj Residents Protest Group Housing on Morphological Ridge

NEW DELHI: Residents of B-1, Vasant Kunj, protested at Jantar Mantar on Sunday against the approval of a group housing project proposed on the Morphological Ridge. The project received clearance from the Supreme Court-appointed Centre Empowered Committee, along with NoCs from DDA, MCD, the Airports Authority of India, and the Union Ministry of Environment, Forest and Climate Change, as well as the State Level Expert Appraisal Committee. Protesters carried placards that read “Our Air, Our Right — Not for Sale” and “Building Towers, Burying Lungs,” voicing their opposition to the plans for three 10-storey luxury towers with three-level basements on…

IndustryLatest Stories

Mt K Kapital Unveils $450M Real Estate Fund for Major Cities

NEW DELHI: Mt K Kapital, a real estate investment management firm, has launched its second fund with a target of USD 450 million. This fund receives backing from both general and limited partners. The firm’s objective with this new fund is to invest in projects during the acquisition stage, focusing on locations such as Mumbai, NCR, Pune, and Bengaluru. The target for fund deployment is set for early 2026. Boman Irani, CMD of Rustomjee Group, remarked, “The initial fund, a ₹790 crore MMR-focused initiative, has set a precedent in underwriting, project oversight, and investor relations.” Published On Nov 27, 2025…