Tag: Gurugram

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…

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…