Tag: Gurugram

InfrastructureLatest Stories

Gurugram: 400 Evacuated Residents Await Expert Audit

GURUGRAM: Hundreds of residents from Neelkanth Enclave face an uncertain future, having to stay in hotels and community centers following a PWD inspection of buildings that were compromised by a collapsed retaining wall at a nearby site. Officials deemed the structures unsafe for habitation. A district administration representative informed TOI that the safety assessment conducted by a PWD team on Friday confirmed the buildings will remain sealed. “No one will be allowed to re-enter these buildings until they are fully repaired and certified safe by our engineers,” stated the official. The Badshapur sub-divisional magistrate (SDM) revealed that experts from IIT-Delhi…

InfrastructureLatest Stories

Gurugram: Buyers Protest Developer Over Poor Roads at Signature Global City-1

GURUGRAM: On Friday, numerous residents from Signature Global City-1 in Sector 37D protested against the developer, claiming inadequate road connectivity. Residents stated that the builder had assured them of a 24-meter-wide road leading to the main access point. However, over a year post-possession, the promised road remains absent, causing daily commuting difficulties. Currently, around 150 families reside in the society out of a total of 1,250 flats, with possession commencing last year. The developer’s representative did not respond to inquiries from TOI. Residents highlighted that poor connectivity is more than just an inconvenience; it poses risks for individuals of all…

IndustryLatest Stories

Elan Group Secures ₹140 Crore in Debt Financing

NEW DELHI: The Gurugram-based Elan Group has secured ₹140 crore in debt from a real estate credit platform run by BGO and Aditya Birla Sun Life AMC, according to sources familiar with the matter. The company had earlier raised ₹250 crore from Piramal Finance to fund a different commercial project in the city. Additionally, Elan Group has successfully repaid a ₹875 crore debt from Asia Pragati Strategic Investment Fund, which is part of PAG, one of Asia’s largest private investment firms. Asia Pragati provided ₹875 crore to the Elan Group in 2022, aimed at fostering their growth capital. Published On…

InfrastructureLatest Stories

Deadline to Remove Demolition Waste from Gurugram Roads & Lots

GURUGRAM: Urban Local Bodies Minister Vipul Goel instructed MCG officials on Wednesday to remove three lakh metric tonnes of construction and demolition (C&D) waste from roads and public spaces within a month. The minister set a 15-day deadline to tackle the wandering cattle issue. During a meeting with officials, he emphasized the need to enhance sanitation, keep public areas free of litter, boost cleaning resources, ensure timely removal of C&D waste, and implement debris fee collection when approving building plans. He highlighted the urgency of addressing sewage-related problems in compliance with the Haryana Municipal Corporation Act. Chief Principal Secretary to…

Latest StoriesResidential

Gurugram: 1,000 vacant flats to be repaired and allocated

Representative image GURUGRAM: A proposal to demolish 1,088 EWS flats in Sector 47 has been put on hold, allowing for much-awaited allocations. The renovation of these flats will be handled by Haryana Shahari Vikas Pradhikaran (HSVP), with eligible families set to receive allocations. Originally built in 2010 under the Ashiana scheme for the underprivileged at a cost of Rs 42 crore, these flats have remained unoccupied for 15 years due to procedural delays and disputes regarding beneficiary eligibility. Previously, HSVP officials noted that identifying qualified applicants was challenging since many lacked necessary documentation or did not fulfill income and residency…

IndustryLatest Stories

TARC Reports ₹54 Crore Profit in Q1 FY26

NEW DELHI: Realty company TARC Ltd has reported a consolidated net profit of ₹54.21 crore for the quarter ending June 30, 2025. In the corresponding quarter last year, the company had a net loss of ₹30.67 crore. Total income surged to ₹295.36 crore during the quarter, up from ₹9.62 crore a year earlier, according to a regulatory filing made on Tuesday. TARC Ltd is actively developing several real estate projects in the Delhi and Gurugram regions. During the fiscal year 2024-25, the company reported a net loss of ₹231.28 crore with total income of ₹38.88 crore. Published On Aug 13,…

InfrastructureLatest Stories

Gurugram: 1,000+ Notices Issued for Illegal Commercial Activities

GURUGRAM: The Department of Town and Country Planning (DTCP) has ramped up efforts to tackle unauthorized constructions in stilt parking zones and illicit commercial activities in residential areas—major factors exacerbating the city’s parking woes. DTP (enforcement) Amit Madholia noted that ongoing surveys in DLF phases, Sushant Lok (I–III), South City, Suncity, and Palam Vihar have uncovered widespread misuse of stilt parking spaces in licensed colonies, where residents frequently convert these areas into servant quarters, storage spaces, or extra living accommodations, thereby pushing vehicles onto already crowded streets. “Notices are issued to property owners wherever illegal constructions are found in stilt…

IndustryLatest Stories

Central Park Engages Advisors for 2027 Real Estate IPO

Property developer Central Park is in the process of engaging a professional services firm and a merchant banker as part of its strategy to list its real estate business by early 2027, according to Amarjit Bakshi, the chairman and managing director. “We are pursuing the IPO route not for fundraising but to facilitate a transition to the next generation,” Bakshi stated. “We aim to establish partnerships, emphasizing the importance of compliance. Every shareholder must be regarded as a partner, and a listed company must fulfill its commitments and meet customer expectations.” Bakshi also mentioned that Central Park is planning a…

Latest StoriesResidential

300+ Gurugram Projects Violate Norms, Bypass STP Checks

GURUGRAM: More than 300 real estate and commercial projects in the city have failed to install the mandatory analysers on their sewage treatment plants (STPs). Documents obtained through the RTI Act reveal this includes several prominent group housing societies, IT parks, and shopping malls. STP analysers are essential for an environmental management system, providing real-time data on critical parameters such as pH levels, chemical oxygen demand (COD), and biochemical oxygen demand (BOD), to ensure wastewater treatment complies with discharge standards. The list, revealed by the Haryana State Pollution Control Board (HSPCB) in response to an RTI request from local resident…

IndustryLatest Stories

Signature Global Targets 92% Growth by FY26

NEW DELHI: Realty firm Signature Global Ltd aims to boost its operational revenue by 92% this fiscal year, fueled by strong sales in its residential projects across Gurugram. According to its latest investor presentation, the company is targeting revenue of ₹4,800 crore for this financial year. Signature Global’s operational income reached ₹2,498.02 crore during the 2024-25 fiscal year. The company mentioned that it has “achieved around 19% of guidance.” It anticipates increased momentum in the upcoming quarters, driven by timely construction completions. In the real estate segment, revenue recognition can occur either upon project completion or via the percentage-of-completion method.…