Tag: Faridabad

Latest StoriesResidential

BPTP to Invest ₹1,100 Crore in Greater Faridabad Housing

Representative AI image NEW DELHI: BPTP is set to invest approximately ₹1,100 crore to launch a residential project in Sector 80, Greater Faridabad, with an estimated gross development value (GDV) of ₹1,800 crore. The project, named Skynest, will consist of 325 residential units spread across two high-rise towers. It will feature 3BHK and 4BHK apartment configurations, with sizes ranging from 3,185 sq ft to 3,856 sq ft. This development will be part of BPTP’s wider portfolio in the NCR, where the company has ongoing residential and mixed-use projects in Faridabad, Gurugram, and Noida. The completion of the project is planned…

Latest StoriesRegulatory

Missing Papers Halt 2.5 Lakh Property Deals in Gurugram

GURUGRAM: The Income Tax (I-T) department is investigating approximately 2.5 lakh property transactions, worth over Rs 3 lakh crore, in the north-west region of India, according to officials. Many of these substantial transactions stem from Gurgaon and Faridabad. Revenue offices in these areas have either neglected to report transactions or submitted incomplete or erroneous PAN details, causing significant obstacles in tax verification efforts. Over the past year, the Directorate of Intelligence and Criminal Investigation (Chandigarh) has conducted over 40 surveys and spot verifications across revenue offices in Punjab, Haryana, Himachal Pradesh, and various Union Territories, including Chandigarh, Jammu & Kashmir,…

Latest StoriesResidential

Haryana Okays Housing for 2,646 PMAY-Urban Beneficiaries

CHANDIGARH: The Haryana government has made significant strides towards offering affordable housing for urban poor and middle-class families, approving housing projects for 2,646 beneficiaries across 60 urban local bodies (ULBs) on Tuesday. The decisions were taken during a session of the state-level sanctioning and monitoring committee under the Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0. The meeting, led by Chief Secretary Anurag Rastogi, highlighted the state’s progress in executing the central government’s housing initiative aimed at providing pucca houses to families in the economically weaker section (EWS), lower income group (LIG), and middle income group (MIG) in urban areas. Mohammed Shayin,…

IndustryLatest Stories

Haryana Updates Housing Policy: Requires One Parking Space per Unit

Representative Image NEW DELHI: The Haryana government has updated its Affordable Housing Policy, 2013, adjusting parking requirements and increasing allotment rates for residential units in cities like Gurugram and Faridabad. According to the updated policy, developers are now required to provide one equivalent car space (ECS) for each dwelling unit. The cost for this parking will be limited to 10% of the flat’s purchase price. Additional parking can be allocated for visitors or two-wheelers, with designated slots to be specified during building plan approvals. For ongoing projects lacking these parking provisions, developers must secure consent from at least two-thirds of…

IndustryLatest Stories

Haryana Updates Collector Rates with Data-Driven Approach

CHANDIGARH: The Haryana government has updated the collector rates throughout the state using a transparent, data-driven approach that reflects current market values, according to an official spokesperson on Tuesday. The revision is based on an analysis of the top 50% of property registrations in each segment where transaction values exceeded existing collector rates, ensuring alignment with market trends. No increases have been made in segments where transaction values rose by up to 20% above the current rates. For other segments, rate adjustments have been applied in increments as follows: 15% for a 20-35% variation, 25% for 35-70%, 30% for 70-100%,…

IndustryLatest Stories

Haryana Approves Mixed Land Use Policy, Unlocks Pending Projects

Representative Image CHANDIGARH: On Tuesday, the Haryana cabinet approved a new policy to regulate the use of land designated for mixed-use in development plans, facilitating projects that were previously on hold due to unclear guidelines. Mixed-use zones permit a blend of residential, commercial, institutional, and occasionally industrial activities. However, the lack of specific usage ratios had hindered approvals. According to the new policy, residential, commercial, and institutional activities will be allowed without a fixed percentage limit, provided they adhere to zoning and planning regulations. Industrial usage, where already authorized, will remain capped at current levels, prohibiting further expansion. However, landowners…

Latest StoriesResidential

Haryana Updates Allotment Rates for Affordable Housing Projects

CHANDIGARH: The Haryana Cabinet has approved an amendment to the Affordable Housing Policy-2013, increasing the allotment rates for apartment units in affordable group housing projects by 10-12%. During a meeting led by Chief Minister Nayab Singh Saini, the Cabinet authorized this amendment under section 9A of the Haryana Development and Regulation of Urban Areas Act, 1975, according to an official statement. The allotment rates for apartment units are specified in Clause 5(i) of the Affordable Housing Policy-2013. These rates were first established in 2013, with revisions in 2021 and 2023. The decision comes following requests from industry representatives, including the…

Latest StoriesRegulatory

ED Recovers ₹650 Crore for 2,300 SRS Realty Home Buyers

NEW DELHI: The Enforcement Directorate has returned immovable assets valued at ₹650 crore to over 2,300 home buyers as part of its ongoing investigation into money laundering involving the Faridabad-based SRS Group, according to officials. They noted that a specific provision in the Prevention of Money Laundering Act (PMLA) in Gurugram enabled the federal agency to undertake this action under anti-money laundering regulations. The ED’s Gurugram zonal office has effectively restored assets worth approximately ₹650 crore to 2,312 legitimate home buyers who were reportedly cheated in SRS projects, officials confirmed. It is alleged that the promoters and executives of SRS…

InfrastructureLatest Stories

Haryana Forms Panel to Draft Waste-to-Energy Proposal

Representative AI Image GURUGRAM: The Directorate of Urban Local Bodies (ULB) has established a committee to draft a model request for proposal (RFP) for waste-to-energy projects across municipal corporations in the state, including Gurgaon, Faridabad, and Hisar. These projects will be executed under a public-private partnership (PPP) framework. The ULB’s directive states that the Ministry of Housing and Urban Affairs has provided a model RFP to help states and ULBs develop technically sound and financially viable waste-to-energy initiatives. The committee is comprised of Dhirendra Khadgata, commissioner of the Faridabad municipal corporation; Pradeep Dahiya, MCG chief; Niraj, chief of the Hisar…

Latest StoriesResidential

Haryana to Require Registration of Property Sale Agreements

GURUGRAM: Haryana’s Chief Minister Nayab Singh Saini has announced a proposal to mandatorily register Agreements to Sell in order to enhance transparency and legal protection in property transactions during the budget statement. Currently, these agreements are often made on plain paper or notarized privately, without official documentation. This lack of registration exposes buyers to risks such as fraud, double-selling, delayed possession, and lengthy litigation, as unregistered agreements carry lesser evidentiary weight in legal disputes. By requiring registration, the government aims to ensure that all property commitments are formally documented, time-stamped, and recorded with revenue authorities. This will help verify ownership,…