Tag: Gurugram

Latest StoriesRegulatory

Bankruptcy Court Initiates Insolvency Proceedings for Vatika

NEW DELHI: A bankruptcy court has approved the admission of a real estate developer from Gurgaon into the corporate insolvency resolution process (CIRP) following an application by IDBI Trusteeship Services. This action was prompted after the firm defaulted on dues totaling approximately Rs 274 crore. The Chandigarh bench of the National Company Law Tribunal (NCLT) has designated Jayant Prakash as the interim resolution professional (IRP) to oversee the company’s proceedings. IDBI Trusteeship, acting on behalf of non-convertible debenture (NCD) holders, submitted the case to the tribunal. Senior counsel Gopal Jain and advocate Meghna Mishra represented the trustee company, arguing that…

InfrastructureLatest Stories

Gurugram Metro Land Acquisition Gains Momentum

Representative AI image GURUGRAM: The land acquisition process for the Gurgaon Metro project has progressed, with the initial meeting of the Land Purchase Committee (LPC) chaired by Deputy Commissioner Ajay Kumar. The committee, established under Haryana’s policy for private land acquisition via mutual consent, evaluated the land requirements submitted by GMRL. During the meeting, the DC directed the land acquisition officer to carry out a joint inspection and prioritize ownership verification for land identified for corridor-1. “This process is expected to take about a week, after which the next LPC meeting will be scheduled for February 11,” an official noted.…

Latest StoriesRegulatory

Property Sales Halted in Gurugram’s Valley View Estate Due to License Lapse

GURUGRAM: The Haryana Department of Town and Country Planning (DTCP) has prohibited the execution of sale or conveyance deeds for properties in Valley View Estate, a 21.61-acre group housing colony in Gwalpahari. This action follows the expiration of the project’s development license, originally issued in 1994, which has not been renewed for over a decade. In a recent notice to the sub-registrar at Wazirabad and district authorities, the district town planner (enforcement) in Gurgaon indicated that the development license, granted on June 8, 1994, was only valid until June 7, 2011. This license was issued to BSF Co-operative House Building…

Latest StoriesResidential

Gurugram’s Malibu Towne Club Closed, Residents Want Reopening

Sure, here’s a rewritten version of the content: — GURUGRAM: Residents of Malibu Towne are urging the Department of Town and Country Planning (DTCP) to lift the seal on Malibu Towne Country Club, which has been closed for nearly two years due to compliance issues from planning authorities. The 204-acre township, established in the mid-1990s in Sector 50, relied on the club for amenities such as a swimming pool, gardens, and spaces for community events—facilities residents have greatly missed since the closure. Vijay Shiv Nath, chairman of the Malibu RWA Federation, explained that the club was closed after the authorities…

IndustryLatest Stories

Haryana: Landowners face FIR for leasing farmland to illegal factories

GURUGRAM: The Haryana State Pollution Control Board officials have announced that landowners who lease or sell agricultural plots for unauthorized factory operations will now face criminal charges along with the operators of these units. This initiative forms part of the ongoing efforts to address the annual air quality crisis affecting Delhi-NCR. FIRs will now be filed against both landowners and tenants where industrial activities are detected on farmland without the necessary approvals. This marks a significant shift from past enforcement actions, which primarily focused on sealing or demolishing such units. Senior officials have directed teams to locate these plots and…

CommercialLatest Stories

DTCP Approved Sale & Lease Deeds for Gurugram Colony

GURUGRAM: The Department of Town and Country Planning (DTCP) has prohibited the registration of any sale, conveyance, or lease deeds associated with a commercial colony in Sector 53 due to violations of licensing conditions. This measure follows directives from the DTCP under Rule 18(2) of the Haryana Development and Regulation of Urban Areas Rules, 1976, concerning license number 13–19 of 2002. This license was issued on June 26, 2002, for the development of a commercial colony spanning 3.953 acres in Sector 53 of Gurgaon, in favor of Arenas Infotech Pvt. Ltd. and Senior Builders Pvt. Ltd., valid until June 25,…

IndustryLatest Stories

Signature Global reports ₹45.33 crore net loss in Q3 FY26

NEW DELHI: Signatureglobal (India) has reported a net consolidated loss after tax of ₹45.33 crore for the quarter ending December 31, 2025, compared to a profit after tax of ₹29.13 crore during the same quarter of the previous fiscal year, as noted in a filing with BSE. The company’s net consolidated total income for Q3 FY26 was ₹312.76 crore, reflecting a 63.72% decline from ₹862.14 crore in the corresponding quarter of the previous year. Pradeep Aggarwal, the founder and chairman, stated, “We have maintained steady performance during the first nine months of FY26. Although the real estate market has experienced…

InfrastructureLatest Stories

Only 15% of Gurugram’s construction sites follow dust rules

GURUGRAM: Construction dust is a major contributor to pollution, yet only about 15% of large construction projects in the area adhere to mandatory air quality monitoring regulations. According to data from Haryana’s dust-control portal, just 461 construction sites measuring 500 square meters or more have registered, while approximately 3,000 are estimated to be operational. This suggests that nearly 85% are not in compliance with official monitoring protocols. Registration on this portal is required under guidelines set by the Commission for Air Quality Management (CAQM). These guidelines also mandate that projects install PM2.5 and PM10 sensors connected to a live dashboard…

IndustryLatest Stories

Haryana’s Affordable Housing Scheme Stalled by Rising Costs

GURUGRAM: There is an increasing demand to reassess Haryana’s affordable housing policy, as stakeholders report that the initiative has nearly come to a standstill in Gurugram and Faridabad due to escalating land and construction costs, according to an official. Officials from the Town and Country Planning (TCP) Department noted that no new licenses for affordable housing projects have been issued in Gurugram in the last one-and-a-half to two years. Furthermore, the Gurugram-Manesar Master Plan area has not witnessed any new affordable housing developments during this time, casting doubt on the policy’s effectiveness. Currently, the government has set the maximum sale…

Latest StoriesRegulatory

Punjab & Haryana HC to Measure Road Width After PIL on S+4 Policy

GURUGRAM: On Thursday, the Punjab and Haryana High Court ordered a physical inspection of internal roads in planned residential sectors of Gurugram to assess their actual width and condition. This decision follows a public interest litigation (PIL) challenging Haryana’s stilt-plus-four (S+4) construction policy. A bench comprising Chief Justice Sheel Nagu and Justice Sanjiv Berry established a three-member panel to conduct inspections and submit a report in ten days, with the case next scheduled for hearing on February 17. The commission will include an additional advocate general (or nominee), the petitioner’s counsel, and the secretary of the district legal services authority,…