Tag: Gurugram

Latest StoriesRera

Haryana RERA Orders Assotech to Refund ₹39 Lakh to Buyer

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRera) has ordered Assotech Ltd to refund ₹38.5 lakh to a homebuyer for failing to deliver a flat in its Assotech Blith project located in Sector 99, Gurgaon. The complainant, Vineet Minocha, purchased a 3BHK unit (G-503) in 2012 for ₹1 crore, with possession promised by March 2016. Despite paying ₹38 lakh, the unit remained incomplete. The builder later requested consent to resell the unit, assuring a refund within two months, which was not fulfilled. HRera has now mandated the refund of the paid amount along with 11% interest. Minocha provided a consent…

CommercialLatest Stories

PwC India Launches Sixth NCR Office in Gurugram

NEW DELHI: Consulting firm PwC India has launched a new office in Gurugram, spanning 125,000 square feet as part of its expansion initiative. In a recent announcement, PwC India revealed the opening of its new office in ‘DLF Downtown 4’, making it the sixth office in the NCR region. This new location boosts PwC India’s total capacity in the Delhi-NCR area to nearly 8,000 personnel. With a workforce of about 30,000 across 20 cities, PwC India continues to grow. Sanjeev Krishan, the Chairperson of PwC in India, stated, “The launch of our sixth office in the NCR signifies the ongoing…

Latest StoriesRegulatory

SC Raises Concerns About Gurugram Court’s Cheque Bounce Cases

NEW DELHI: The Supreme Court expressed concerns regarding coercive actions taken by a Gurugram trial court against homebuyers, indicating it will review the situation based on substantial information it has. A bench comprising Justices Surya Kant and N. Kotiswar Singh directed the district and sessions judge in Gurugram to investigate the issuance of bailable and non-bailable warrants related to cheque bounce cases under the Negotiable Instrument Act aimed at recovering money from homebuyers. “We are receiving numerous reports regarding the Gurugram trial court’s conduct. We will investigate and determine appropriate actions,” noted the bench. This directive was given during the…

Latest StoriesRegulatory

Final Warning Issued to 60 Sushant Lok Homes in Gurugram

GURUGRAM: More than a month after receiving no responses from property owners regarding its notices, the Department of Town and Country Planning (DTCP), led by District Town Planner Amit Madholia, has intensified enforcement efforts in Sushant Lok 2. Restoration orders have now been issued for over 60 residential properties due to violations of building codes and unauthorized commercial activities. These restoration orders serve as the final warning—failure to comply could result in “sealing, demolition, or even cancellation of occupation certificates.” Amit Madholia stated, “This action is being conducted in strict accordance with planning regulations. Property owners who have violated residential…

IndustryLatest Stories

HCBS to Invest ₹700 Crore in Gurugram Residential Project

NEW DELHI: HCBS Developments is set to invest ₹700 crore in the Twin Horizon residential project located in Sector 102, Gurugram. The anticipated revenue for the project is ₹1,400 crore, covering a total area of 5.2902 acres. This development will include two high-rise towers, offering 268 residential units, with prices starting from ₹4 crore, alongside seven commercial units. All units will be launched as part of a single-phase development, with construction expected to span four years. The project has been designed by Morphogenesis. Published On Jul 22, 2025 at 01:00 PM IST Join over 2M+ industry professionals. Subscribe to our…

CommercialLatest Stories

Smartworks Coworking Shares Surge 9% in Market Debut

NEW DELHI: Smartworks Coworking Spaces Ltd’s shares saw a rise of over 9% on Thursday, closing above the issue price of Rs 407. The stock debuted at Rs 436.10, reflecting a 7.14% increase from the issue price on the BSE. It even peaked at Rs 469 during the day, marking a high of 15.23%. Ultimately, shares closed at Rs 445.10, representing a 9.36% gain. On the NSE, it opened at Rs 435, up by 6.87%, and finished at Rs 445.05, a rise of 9.34%. The company’s market capitalization was reported at Rs 5,079.99 crore. In terms of trading volume, 16.77…

IndustryLatest Stories

Elan Group Secures ₹250 Crore from Piramal Finance

Gurgaon-based developer Elan Group has secured ₹250 crore from Piramal Finance for a commercial project in the city, as reported by sources familiar with the matter. This financing follows a ₹1,200 crore funding from Kotak Real Estate Fund last year, and the company aims to expedite its projects in the area. In 2022, Elan Group raised $110 million (approximately ₹900 crore) from global alternative investment firm PAG. “The funding is designated for a commercial project covering one million sq ft in Gurgaon,” stated one of the sources. Elan Group opted not to comment, and transaction advisor CBRE was unavailable for…

CommercialLatest Stories

Smartworks IPO Subscribed 13.45 Times

NEW DELHI: Smartworks Coworking Spaces Ltd’s initial public offering (IPO) of ₹583 crore was oversubscribed by 13.45 times by the close of bidding on Monday. During the three-day IPO, bids reached 13,99,08,852 shares, significantly exceeding the 1,04,01,828 shares available, according to NSE data. The Qualified Institutional Buyers (QIB) segment received 24.41 times the subscription, while Non-Institutional Investors subscribed 22.78 times. Retail Individual Investors (RIIs) saw a subscription of 3.53 times. Additionally, Smartworks Coworking Spaces has secured ₹173.64 crore from anchor investors. The IPO was launched last Thursday, aiming to raise nearly ₹600 crore to facilitate business expansion and debt reduction.…

Latest StoriesRegulatory

DTPE Notifies 61 Sushant Lok-1 Plot Owners of Illegal Activities

GURUGRAM: During a two-phase enforcement initiative, 61 show-cause notices were issued to property owners in Sushant Lok-1 for conducting commercial activities such as clinics, gyms, skincare centers, eyewear shops, departmental stores, bookstores, toy stores, and offices within residential areas. The initiative, executed by the District Town Planner Enforcement (DTPE) team with police backing, also led to the demolition or sealing of unauthorised constructions in Vyapar Kendra Market. One illegal floor and 21 offices were sealed for violating construction regulations and encroaching on shared spaces. Additionally, 17 unauthorised staircases and five encroachments were removed. Businesses affected included Pooja Taxi, multiple units…

IndustryLatest Stories

DLF Posts 32% Revenue Surge in FY25

NEW DELHI: DLF has reported impressive financial results for the fiscal year ending March 31, 2025 (FY25), with a consolidated revenue increase of 32% to ₹7,376 crore, up from ₹5,574 crore the previous year. The net profit after tax reached ₹2,744 crore, showing a year-on-year growth of 26% compared to ₹2,172 crore in FY24. This growth was propelled by robust housing demand, effective execution of key projects, and higher average realizations in its development portfolio. Surge in Sales and Collections The company reported gross new sales bookings of ₹14,778 crore in FY25, slightly lower than FY24’s ₹15,058 crore. However, DLF…