Tag: Gurugram

IndustryLatest Stories

HSV Property Dealer Launches Online Urban Estate Resale Platform

Representative AI image CHANDIGARH: The Haryana Shehri Vikas Pradhikaran (HSVP) is poised to rebrand itself as a government-run real estate agency, a decision that may not be well received by private real estate agents and the general public. In response to a shortage of land, HSVP plans to facilitate allottees across its 30 urban estates to resell their properties through an e-auction platform. Allottees will need to express interest (EOI) and pay an initial facilitation fee of 0.25% of the offer price, followed by 0.50% of the final deal amount post-auction. The first e-auctions are scheduled for September 24-28 in…

InfrastructureLatest Stories

Gurugram Real Estate Stumbles: Flooded Streets and Empty Sites

Representative AI image NEW DELHI: Gurgaon’s recent infrastructure collapse has severely affected real estate sales, resulting in a notable decrease in site visits by potential buyers, according to developers and brokers. Experts suggest that improved infrastructure and the forthcoming airport may lead Noida to outpace Gurgaon. “We’ve urged the government to prioritize development in Gurgaon, which is a significant revenue source for Haryana but continues to be overlooked. The city’s infrastructure can barely handle a few bouts of rain, causing major disruptions that deter investors. This has visibly impacted sales recently, giving Noida an edge,” stated Praveen Jain, chairman emeritus…

InfrastructureLatest Stories

DTCP Dismantles Illegal Gates and Guard Room in Gurugram 85

Representative AI image GURUGRAM: The Department of Town and Country Planning (DTCP) conducted a demolition operation in New Gurgaon on Thursday, targeting illegal gates installed by a developer. According to DTCP officials, Orris Infrastructure constructed gates and assigned guards along 24-meter-wide sector roads in Sector 85 “to restrict public access,” leading to complaints from residents. In response to these complaints, a DTCP team, led by town planner Amit Madholia, visited the site and removed two gates obstructing the sector roads. The team also dismantled a guard room built in the middle of the road. Officials noted that Orris not only…

IndustryLatest Stories

Max Estates Gets Development Rights for 7.25 Acres in Gurugram

Representative image NEW DELHI: Max Estates has acquired the development rights to a 7.25-acre land parcel in Sector 59, Gurugram. This agreement involves purchasing 100% of Base Buildwell (BBPL), a project SPV that holds the license and development rights for the land. The project has the potential for 1.3 million sq ft of development, with an estimated investment of ₹534 crore, and is projected to yield a booking value exceeding ₹3,000 crore. The investment includes the complete acquisition of BBPL’s share capital, comprising 10,000 equity shares of ₹10 each and 24,17,256 compulsorily convertible debentures of ₹100 each, along with project-level…

InfrastructureLatest Stories

CEC Warns Against Mass Demolitions in Aravalis

GURUGRAM: The Central Empowered Committee (CEC) has presented a report to the Supreme Court regarding encroachments in the Aravali region of Faridabad. The report recommends distinguishing between legitimate homes in village abadi areas and other unlawful constructions to protect residents’ rights. It advised that significant projects and farmhouses on forest land should be addressed according to regulations. “The district authorities, in collaboration with local representatives, must meticulously differentiate between unauthorized structures and genuine residences, ensuring that any demolitions respect the rights and safety of law-abiding residents. An alternative strategy is being considered to create a defined perimeter around existing settlements,…

Latest StoriesRegulatory

CCI Dismisses Emaar India’s Marbella Villa Complaint

Certainly! Here’s a rewritten version of the content you provided: — NEW DELHI: The Competition Commission of India (CCI) has dismissed a complaint against Emaar India Ltd concerning alleged anti-competitive practices related to its “Marbella” villa project in Gurugram. The CCI stated, “No prima facie case of violation of Sections 3 and 4 of the Act has been established against the opposing parties in this matter.” Sections 3 and 4 pertain to agreements that restrict competition and abuse of a dominant position, respectively. The complaint originated from claims made by an informant who alleged that Emaar India Ltd, its subsidiary…

Latest StoriesRegulatory

OSB Director Faces FIR for Fund Misuse & License Violations

GURUGRAM: In a significant enforcement action within Haryana’s affordable housing sector, an FIR has been filed against a company and its director for financial fraud, licensing infringements, and extensive irregularities. The Haryana State Enforcement Bureau has lodged the FIR against M/s Ocean Seven Buildtech (OSB) Pvt Ltd and its director, Swaraj Singh, following a complaint from the district town planner (enforcement). This action has led to authorities requesting a lookout circular (LOC) against Singh due to concerns he might flee the country. The FIR cites violations under Sections 10 and 12 of the Haryana Development and Regulation of Urban Areas…

Latest StoriesResidential

Access Road to Gurugram’s Sector 85 Closed; Buyers Protest

GURUGRAM: Residents of Orris Carnation, Aster Court, and Aster Court Premier in Sector 85 protested on Sunday against the closure of a 24-meter-wide access road to their township. They claim this road was promised as the main entryway when they purchased their homes. Chanting slogans and holding placards, the residents marched to Iris Broadway Mall, demanding the road’s immediate reopening. They indicated that the road was fully operational at the time of the flat sales, but it was blocked in October last year after possession was granted. Over 7,000 residents, including children and the elderly, are now compelled to use…

IndustryLatest Stories

Lack of Access Roads? OCs Denied for Projects, Says Haryana Minister

GURUGRAM: Following complaints from homebuyers about misleading promises from developers regarding wide roads and easy access to housing societies, the Haryana government is taking steps to tighten its approval system. On Saturday, Industries and Commerce Minister Rao Narbir Singh announced forthcoming policy changes aimed at ensuring builders adhere to established norms. Occupancy certificates will be withheld if 24- or 30-metre-wide roads shown in maps are not actually built. During a meeting with officials from HSVP, GMDA, and the Town and Country Planning Department, Singh emphasized that this issue has become increasingly common in Gurgaon’s newer sectors. The meeting was attended…

InfrastructureLatest Stories

NGT Requests Reports on Aravalis Farmhouses from Haryana, Rajasthan

GURUGRAM: The National Green Tribunal (NGT) requested compliance reports from the Haryana Pollution Control Board (HSPCB) and the Sohna Municipal Council during a hearing on Monday. Both entities were made respondents in an ongoing case addressing unauthorized construction and reconstruction activities in the ecologically sensitive Aravali hills of Raisina. Counsel representing Haryana and Rajasthan requested a four-week extension to submit their compliance reports concerning prior directions aimed at protecting the Aravalli hills. The bench approved this request, scheduling the next hearing for October 16. The bench, consisting of NGT Chairperson Justice Prakash Shrivastava and expert members Dr. A. Senthil Vel…