Tag: Gurugram

CommercialLatest Stories

Smartworks Coworking IPO Fully Subscribed by Day 2

NEW DELHI: Smartworks Coworking Spaces Ltd’s initial public offering (IPO) was subscribed 1.15 times by the end of the second day of bidding on Friday. According to NSE data, the IPO received bids for 1,19,96,496 shares, surpassing the 1,04,01,828 shares available. The non-institutional investor category saw a subscription rate of 1.79 times, while retail individual investors (RIIs) subscribed 1.18 times. Qualified institutional buyers (QIBs) had a 63% subscription rate. Smartworks Coworking Spaces has secured Rs 173.64 crore through anchor investors. Launching on Thursday, the IPO aims to raise nearly Rs 600 crore to facilitate business expansion and debt reduction. The…

Latest StoriesResidential

Zomato Founder Purchases ₹52.3 Crore Apartment in Gurugram

NEW DELHI: Deepinder Goyal, the founder of Zomato, has purchased an expansive 11,000 sq ft apartment in Gurugram’s upscale DLF Camellias for Rs 52.3 crore, as reported by Zapkey. This purchase, made in August 2022 from DLF Ltd, has had its registration completed in March this year, according to the documentation reviewed by Zapkey. Goyal’s new residence boasts a super built-up area of 10,813 square feet and is located on Golf Course Road, DLF Phase-5. Market analysts estimate the current value of this property to be between Rs 125 crore and Rs 150 crore. Over the past three years, real…

IndustryLatest Stories

Signature Global records ₹2,640 crore pre-sales in Q1 FY26

Representative image created by AI NEW DELHI: Signatureglobal (India) reported pre-sales of ₹2,640 crore for Q1 FY26, down from ₹3,120 crore during the same period last year. The company experienced a notable increase in average sales realization, which rose by 31% year-on-year to ₹16,296 per sq ft in Q1 FY26, compared to ₹12,457 per sq ft in FY25. Pradeep Kumar Aggarwal, chairman and whole-time director, stated, “We expect strong sales momentum and are confident in achieving our annual targets across several metrics.” Collections for the quarter totaled ₹930 crore, lower than ₹1,210 crore in Q1 FY25. In terms of business…

Latest StoriesRegulatory

DTCP to Appoint Admins for Illegal RWAs Structures in Gurugram

GURUGRAM: On Monday, the Department of Town and Country Planning (DTCP) demolished an illegal structure constructed by the previous Residents’ Welfare Association (RWA) of Suncity Avenue, Sector 102. Officials stated that the makeshift structure, situated at the rear of the society, was used for religious activities. “The illegal construction came to our attention following formal complaints from residents. After verification, we issued a demolition order in accordance with the law,” explained Amit Madholia, the district town planner (enforcement). The authorities pointed out a growing trend of RWAs engaging in unauthorized constructions within common areas of housing societies. “These structures, often…

Latest StoriesResidential

Gurugram: ROF Alante Residents Protest Poor Infrastructure

GURUGRAM: Tensions rose in Sector 44 as residents of the ROF Alante Society in Sector 108 protested outside the builder’s office, with police present, demanding essential infrastructure and an investigation into the project’s approval on Saturday afternoon. The residents raised concerns about the builder receiving a license and occupancy certificate (OC) without proper road access to the site. “The project was developed under Haryana’s affordable housing scheme, yet the developer has not provided necessary infrastructure, including a permanent 24-meter access road,” said resident Shivani Thusoo. Protesters were reportedly stopped by security at the builder’s office. Police soon arrived and spoke…

Latest StoriesRegulatory

Delhi HC Dismisses Plea to Oversee ED Probe into IREO Residences

NEW DELHI: The Delhi High Court has affirmed the Enforcement Directorate’s investigation into the real estate company IREO Residences and dismissed a petition claiming bias against the agency. Justice Manmeet Pritam Singh Arora issued the ruling on Wednesday, criticizing petitioner Gulshan Babbar for omitting vital information and imposing a fine of Rs 1.25 lakh for misleading the court. Babbar alleged that the Enforcement Directorate had failed to properly investigate financial discrepancies amounting to Rs 1,317 crore related to bank loans and land transactions in Gurugram. The High Court dismissed Babbar’s petitions due to lack of standing and maintainability. Published On…

InfrastructureLatest Stories

Probe Opens into Illegal Construction in Raisina Hills

GURUGRAM: An investigation has been launched into illegal construction activities in the Raisina Hills of Sohna Aravalis, following significant land clearing, tree felling, and unauthorized constructions in the area. Divisional Commissioner Ramesh Chandar Bidhan initiated the inquiry amidst rising public concern regarding the illegal activities occurring on land protected by the 1992 Aravali notification. In a statement to TOI, he mentioned that the investigation aims to identify those responsible for the encroachments and evaluate the extent of environmental breaches. Complaints from local residents indicated the use of earthmovers to level extensive areas, heightening worries about permanent damage to the fragile…

Latest StoriesResidential

BPTP to Invest ₹3,000 Crore in Dwarka Expressway Project

NEW DELHI: BPTP has unveiled GAIA Residences, a new residential project located along the Dwarka Expressway, with an investment goal of ₹3,000 crore and projected revenue of ₹6,500 crore. This initiative is part of a larger ~150-acre development, representing the second phase of the Amstoria project. The 12.05-acre project will feature three high-rise towers consisting of 531 units of 3BHK residences. One of the towers will be opened for sales at a later date, pending the relocation of a high-tension electricity line. The average price for units in the project starts at ₹3.85 crore. Published On Jul 3, 2025 at…

Latest StoriesRegulatory

ED seizes ₹557 crore assets of Mahira Group in money laundering

NEW DELHI: The Enforcement Directorate (ED) has provisionally attached assets worth around Rs 557.43 crore as part of a money laundering investigation concerning Mahira Infratech Pvt Ltd (previously known as M/s Sai Aina Farms Pvt Ltd), M/s Mahira Buildtech Pvt Ltd, and M/s Czar Buildwell Pvt Ltd. According to an official statement, the ED utilized the Prevention of Money Laundering Act (PMLA) of 2002 to attach several assets, including seven immovable properties that total about 35 acres of residential and commercial land in Gurugram’s Sectors 68, 63A, 103, 104, 92, 88B, and 95. Additionally, Fixed Deposit Receipts (FDRs) amounting to…

Latest StoriesRera

RERA Orders Builder of Expressway Towers to Pay 11% Interest

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRera) has instructed the developer of a high-rise condominium—a budget-friendly housing initiative in Sector 109—to compensate the buyer for delays in possession and to deliver the apartment as stipulated in the purchase agreement. The unit, number 908 in Tower 3 at Expressway Towers 109, was bought for ₹26.26 lakh nine years ago. The builder had promised timely delivery of the 644-square-foot flat, along with a 100-square-foot balcony, but failed to meet the four-year deadline from the allotment date of May 19, 2017. HRera (Gurgaon) ordered the builder to pay interest at an annual…