Tag: Gurugram

IndustryLatest Stories

Signature Global’s FY26 Pre-sales Drop 20% to ₹8,220 Crore

NEW DELHI: Signature Global (India) has reported a 20% year-over-year decrease in pre-sales, totaling ₹8,220 crore for FY2026, down from ₹10,290 crore the previous year. Pre-sales for the March quarter reached ₹1,540 crore, marking a 5% decrease year-on-year and a 24% decline from the previous quarter. The company sold 2,114 units in FY26, a significant drop from 4,130 units in FY25. Collections for the fiscal year were ₹4,000 crore, down from ₹4,380 crore in the previous year. Pradeep Kumar Aggarwal, chairman and whole-time director of the company, stated, “FY26 reflects our commitment to disciplined growth, with a notable reduction in…

Latest StoriesRera

Haryana RERA Gurugram Bench Resolves All Cases by 2024

NEW DELHI: The Haryana Real Estate Regulatory Authority (HRERA), Gurugram bench, has successfully cleared all pending complaints filed up to 2024, eliminating a backlog of over 2,100 cases, as stated in an official release. As of March 31, 2025, there were 2,174 pending cases, including complaints dating back to 2018. These have now been resolved, leaving only cases filed in 2025 and later for review. The caseload included 1,060 cases from 2024, 654 from 2023, and 333 from 2022, with fewer complaints from earlier years. During 2025, the authority resolved 5,024 complaints, providing relief measures such as refunds or compensation…

InfrastructureLatest Stories

Haryana: HC Stay on S+4, Town Planning Questions HSVP’s Fund Use

GURUGRAM: Haryana has suspended all approvals for stilt-plus-four (S+4) residential constructions due to an interim stay from the Punjab and Haryana High Court. The Department of Town and Country Planning (DTCP) has requested a utilization report from HSVP regarding the Rs 689 crore allocated for infrastructure enhancements. The funds, deposited under the account of PDR (proportionate development charges), were designated to improve urban infrastructure linked to increased density. Concerns regarding the pressure on infrastructure have been highlighted by petitioners in the high court regarding the S+4 policy. A senior DTCP official stated, “We have requested comprehensive information from HSVP on…

Latest StoriesResidential

KREEVA to invest ₹350-400 crore in Gurugram residential project

NEW DELHI: KREEVA, the real estate division of Kanodia Group, is set to invest ₹350-400 crore in a new residential project located off the Southern Peripheral Road in Gurugram. The company has formed a joint development agreement with the landowner for this venture. Covering an area of three acres, the project will feature around 5.5 lakh sq ft of built-up space, aiming to provide approximately 200 homes. Construction is anticipated to commence towards the end of Q1 FY27. This initiative represents the company’s foray into the multi-generational housing sector. Published On Apr 7, 2026 at 01:26 PM IST Join a…

Latest StoriesRegulatory

ED Seizes ₹944 Crore in Properties Linked to Housing Fraud

NEW DELHI: The Enforcement Directorate (ED) has seized immovable assets valued at approximately Rs 944 crore under the Prevention of Money Laundering Act. This action is tied to allegations of failure to deliver housing units to more than 1,500 homebuyers in Haryana and Rajasthan, officials reported on Monday. The affected projects are situated in Palwal, Faridabad, Rewari, and Bhiwadi, where buyers allegedly did not receive possession even after making payments, the agency stated. In a recent announcement, the ED indicated it “has provisionally attached immovable properties worth about Rs 944 crore, owned by Piyush Colonisers Limited, former promoters of the…

Latest StoriesRera

Haryana RERA Orders Chintels India to Pay ₹4 Crore for Unsafe Project

GURUGRAM: The Haryana Rera has mandated that Chintels India pay over ₹4 crore to a homebuyer from Chintels Paradiso, holding them accountable for significant construction flaws that rendered the project unsafe, as reported by Rao Jaswant Singh. This decision follows multiple inspections after the tragic collapse of Tower D on February 10, 2022, which resulted in the deaths of two residents and revealed serious structural deficiencies throughout the complex. The complaint was lodged by Aruna Garg, a resident of Delhi, who purchased a 4BHK flat in Tower C for over ₹1.8 crore, exceeding the original sale price. After taking possession…

Latest StoriesRegulatory

NCLAT: Insolvency Process for Raheja Shilas Project to Continue

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has rejected Raheja Developers’ request to terminate the insolvency resolution process concerning its Raheja Shilas project in Gurugram, citing unresolved issues with flat buyers. The tribunal stated that an application under Section 12A of the Insolvency and Bankruptcy Code (IBC) for withdrawal from the Corporate Insolvency Resolution Process (CIRP) can only be filed once the disputes between flat buyers and the firm are fully settled. Flat buyers remain eligible to file an application under Section 12A. “Respondent Nos. 1 to 43 (flat buyers) have opposed the closure of the CIRP, which…

IndustryLatest Stories

New FY27 Circle Rates Effective in Gurugram

GURUGRAM: Starting Thursday, new circle rates for residential, commercial, and agricultural properties are now in effect. Property transactions will adhere to these updated rates from Friday onward. The revised rates have seen an increase of 15% to 30%, with some areas experiencing hikes up to 75%, as reported by officials. Gurgaon Deputy Commissioner Ajay Kumar noted that the revision of circle rates was based on current market rates, development speed, and infrastructure availability in the respective areas. “Approximately 51% of various tehsil areas in the district will see no changes in circle rates. Conversely, around 11% of rapidly developing areas…

Latest StoriesRera

Sunrays Heights Faces Haryana RERA over Buyer Payment Defaults

GURUGRAM: A developer has filed a complaint with the Haryana Real Estate Regulatory Authority (H-Rera) against its homebuyers, citing unpaid installments amounting to lakhs. The developer seeks recovery with 15% annual interest as well as additional compensation. However, Rera dismissed the complaint, stating that the promoter cannot use the authority to seek relief beyond what is specified in the builder-buyer agreement. M/s Sunrays Heights Pvt Ltd, the promoter behind the “63, Golf Drive” project in Sector 63-A, has lodged complaints against multiple buyers, including Rahul Parashar, Prakriti Ranjan Samanta, and Promila. These individuals signed builder-buyer agreements in February 2016 for…

Latest StoriesRegulatory

HC Upholds Haryana’s ‘Stilt-Plus-Four’ Policy in Homes

CHANDIGARH: In a significant development for the real estate sector in Haryana, the Punjab and Haryana High Court issued an interim order on Thursday, halting the state government’s “stilt-plus-4 policy.” This policy permitted the construction of four-storey homes in various residential sectors and colonies. This interim measure will remain until the court reaches a final ruling on several petitions that oppose the policy. “Due to prolonged arguments attributed to the counsels of both parties, the court finds it appropriate to refrain from commenting on the validity of the notification dated July 2, 2024, issued by the additional chief secretary of…