Tag: Delhi-NCR

Latest StoriesResidential

Luxury Home Prices Surge 40% Since 2022 in Seven Cities

Representative image NEW DELHI: Luxury housing prices across India’s top seven cities have surged by an average of 40% since 2022, significantly outpacing other residential sectors due to persistent demand from high-net-worth individuals, as reported by Anarock Research. The average price for luxury homes (priced above ₹1.5 crore) rose from ₹14,530 per sq ft in 2022 to ₹20,300 per sq ft in 2025. The Delhi-NCR region experienced the highest increase, with prices jumping 72% from ₹13,450 per sq ft to ₹23,100 per sq ft. The Mumbai Metropolitan Region (MMR) and Bengaluru followed closely with increases of 43% and 42%, respectively.…

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GRAP Stage-3 Curbs Lifted in Delhi-NCR as Air Quality Improves

NEW DELHI: The Commission for Air Quality Management (CAQM) lifted the Stage-3 restrictions under the Graded Response Action Plan (GRAP) for Delhi-NCR on Wednesday, as air quality has improved over the past few days. The 24-hour average Air Quality Index (AQI) in Delhi was recorded at 327. Forecasts from the India Meteorological Department (IMD) and the Indian Institute of Tropical Meteorology indicate that the air quality is expected to remain in the “very poor” category. Nevertheless, the CAQM confirmed that measures under Stage-1 and Stage-2 of the revised GRAP, announced on November 21, will continue and will be closely monitored…

Latest StoriesRegulatory

Bankruptcy Court Approves Ansal API Affiliate for Insolvency

The National Company Law Tribunal (NCLT) has initiated the corporate insolvency resolution process (CIRP) for Katra Realtors, following a petition filed by IL&FS Financial Services Ltd. Situated in Delhi, Katra Realtors had acted as a corporate guarantor for Ansal Properties and Infrastructure (Ansal API), which is presently undergoing insolvency proceedings. Ansal API has acknowledged liabilities exceeding Rs 571 crore, and IL&FS Financial Services sought recourse against Katra Realtors due to its corporate guarantee of approximately Rs 23 crore towards Ansal API. The NCLT division, comprised of judicial member Manni Sankariah Shanmuga Sundaram and technical member Atul Chaturvedi, ruled that concurrent…

InfrastructureLatest Stories

Concerns Over SC’s 100-Metre Mining Definition for Aravali Watchers

NEW DELHI | GURUGRAM: The Supreme Court’s endorsement of the Union Environment Ministry’s definition of the Aravalis as hills rising at least 100 metres in elevation has raised alarm among environmentalists. They fear it may influence broader applications beyond mining. The ongoing drafting of the NCR master plan – Regional Plan 2041 – is crucial, as the classification of the Aravalis will play a pivotal role in safeguarding natural conservation zones (NCZ). Recently, the Haryana government proposed a definition for the Aravalis that incorporates minimum age and height criteria set by the mining department. This definition only acknowledges hills with…

Latest StoriesRegulatory

Delhi HC forms panel to accelerate industrial redevelopment and reduce Yamuna pollution.

NEW DELHI: The Delhi High Court has formed a three-member committee to expedite redevelopment initiatives for industrial regions and ensure effective treatment of wastewater flowing into the Yamuna River. This action follows the court’s concerns about the ongoing pollution issues, particularly the delays by agencies responsible for managing industrial waste. The committee will include delegates from key organizations, namely the Delhi State Industrial and Infrastructure Development Corporation (DSIIDC), Delhi Pollution Control Committee (DPCC), and Delhi Jal Board (DJB). During the hearings, the court criticized the government’s inaction and warned of potential adverse rulings against responsible agencies. Last month, senior officials…

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Centre announces updates to DDA’s transit-oriented policy

NEW DELHI: The Central government has announced changes to the Delhi Development Authority’s (DDA) Transit Oriented Development (TOD) policy, as indicated in a gazette notification released on Saturday. The “TOD Zone” designates a 500-metre wide area on both sides of the approved Metro Corridors Routes and surrounding regional and interstate mass transit stations, including the Regional Rapid Transit System (RRTS). A public notice from the DDA stated, “The Delhi Development Authority has proposed modifications in ‘Chapter – 20 on Transit Oriented Development (TOD) in the Master Plan for Delhi – 2021’ under Section 11-A of the DD Act.” The proposed…

Latest StoriesResidential

Delhi to renovate 2,416 flats for the underprivileged

NEW DELHI: The Delhi government announced on Friday the approval for repair and renovation of 2,416 ready flats in Sawda Ghevra, instructing officials to expedite their allocation. During the 34th board meeting of the Delhi Urban Shelter Improvement Board (DUSIB), Chief Minister Rekha Gupta mandated that all renovation work is to be completed by January 15. “No budgetary constraints will be imposed on welfare schemes,” the CM emphasized. The board also approved renovation initiatives for flats at various locations, including Sultanpuri, Dwarka, and Bhalswa. This is part of the government’s initiative to repair about 50,000 unused EWS flats built over…

Latest StoriesRegulatory

ED Seizes ₹50 Lakh Cash Over IBC Misuse in Land Sale Case

NEW DELHI: On Friday, the Enforcement Directorate revealed an incident involving the misuse of the Insolvency and Bankruptcy Code (IBC) in the land sale of an insolvent real estate firm. During recent raids, Rs 50 lakh in cash was confiscated from a lawyer at the NCLT and another individual. The federal agency stated it conducted searches on Thursday in Delhi and Gurugram as part of an investigation into Universal Build Well Pvt. Ltd. and its promoters, concerning unfinished real estate projects and alleged fraud against homebuyers and investors. The company was in a corporate insolvency resolution process. The National Company…

InfrastructureLatest Stories

₹2.36 Crore in Fines; 48 Construction Sites Shut in Delhi

NEW DELHI: The government of Delhi has levied fines amounting to Rs 2.36 crore, issued over 200 show-cause notices, and ordered the closure of 48 construction sites for breaching dust-control regulations in the last month. Environment Minister Manjinder Singh Sirsa stated that this decisive action, supported by real-time monitoring and ongoing inspections, illustrates the government’s commitment to tackling pollution through “measurable, science-based enforcement instead of empty promises,” according to an official statement. The Delhi Pollution Control Committee (DPCC) has ramped up its anti-dust campaign since October 15, inspecting 1,262 construction sites exceeding 500 sqm. In a move to enhance oversight,…

Latest StoriesResidential

Karkardooma Tower Project Sees 1,500 Bids, Exceeds Flat Supply

NEW DELHI: The Delhi Development Authority (DDA) announced the successful reception of bids for its upcoming high-rise project, ‘DDA Towering Heights’, located in Karkardooma. Officials reported this on Wednesday. This initiative marks the first housing project created under Delhi’s Transit Oriented Development (TOD) policy. “Approximately 1,500 bids have been received for the 1,026 two-bedroom flats available. The central location and excellent connectivity options have significantly driven demand,” officials noted. Situated next to the Karkardooma metro station, this project offers direct access to both the Blue and Pink lines of the Delhi metro, alongside easy connections to National Highway (NH)-9, NH-24,…