Tag: Gurugram

Latest StoriesRera

Haryana RERA Dismisses Buyers’ Complaint for DLF Corporate Greens

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRera) has issued two significant rulings. In the first case concerning DLF Corporate Greens, HRera determined that the project, completed before the RERA framework began, does not qualify as an “ongoing project” and therefore does not need to be registered under the Act. Buyers had raised issues regarding delays in possession and disputed additional charges. The second ruling, involving Emaar India Ltd, emphasized that HRera cannot re-evaluate its own decisions or those made by the appellate tribunal. In this instance, two complainants reported a delay of nearly four years and eight months between…

Latest StoriesRegulatory

Gurugram collects ₹350 crore in property tax for FY26

GURUGRAM: The Municipal Corporation of Gurugram (MCG) collected over ₹350 crore in property tax and approximately ₹56 crore in water bills during the fiscal year 2025-26. Officials noted that MCG offices experienced increased visitor traffic from early Tuesday as residents rushed to settle overdue property taxes and water bills before the financial year concluded. To facilitate this, citizen assistance centers at municipal offices remained open, even on a holiday, and tax branch officials were available to assist throughout the day. Separate counters were also set up for senior citizens, making it easier for elderly residents to manage their payments. Mayor…

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Prestige Group and Partner to Develop Gurugram Land

Representative AI image NEW DELHI: Prestige Estates Projects has signed a joint development agreement (JDA) with Sare Gurugram for a 17.2-acre plot in Sector 92, Gurugram, as part of its strategy to enhance its residential portfolio in the National Capital Region (NCR). The upcoming project is expected to cover approximately three million sq ft, with a projected gross development value (GDV) of around ₹4,200 crore. The property is situated near the Dwarka Expressway, an area witnessing a surge in residential developments due to improved connectivity and infrastructure. Irfan Razack, Chairman and Managing Director of the company, stated that this acquisition…

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M3M India invests ₹14,500 crore for 45 million sq ft project

Sure! Here’s a rewritten version of the content: NEW DELHI: M3M India has announced an investment of approximately ₹14,500 crore to support the development of its portfolio exceeding 45 million sq ft currently under construction, as stated in a recent media release. The company’s developments will be financed through internal resources and working capital, proudly maintaining a debt-free balance sheet. M3M has earmarked 7.8 million sq ft for completion by FY27, focusing on premium residential and mixed-use commercial projects. Residential properties comprise 5.8 million sq ft, of which M3M Capital 113 accounts for 3.2 million sq ft and M3M Antalya…

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Haryana Updates Collector Rates with Data-Driven Approach

CHANDIGARH: The Haryana government has updated the collector rates throughout the state using a transparent, data-driven approach that reflects current market values, according to an official spokesperson on Tuesday. The revision is based on an analysis of the top 50% of property registrations in each segment where transaction values exceeded existing collector rates, ensuring alignment with market trends. No increases have been made in segments where transaction values rose by up to 20% above the current rates. For other segments, rate adjustments have been applied in increments as follows: 15% for a 20-35% variation, 25% for 35-70%, 30% for 70-100%,…

Latest StoriesRegulatory

NCLAT Limits Vatika’s Insolvency Order to Gurugram Project

NEW DELHI: The NCLAT has provided partial relief to NCR-based real estate firm Vatika by limiting the ongoing insolvency proceedings to a specific project, “Project Aspirations,” located in Gurgaon. The National Company Law Appellate Tribunal (NCLAT) modified the earlier order from the National Company Law Tribunal (NCLT), clarifying that “CIRP cannot encompass all other projects” of Vatika. On February 3, following a plea from IDBI Trusteeship Services, the NCLT initiated the Corporate Insolvency Resolution Process (CIRP) against Vatika and appointed an Interim Resolution Professional (IRP) while enforcing a moratorium. This decision was subsequently challenged by Surender Singh, a director of…

Latest StoriesRera

Haryana RERA Orders Refund with Interest in BPTP Park Terra

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRera) has instructed BPTP Limited to refund ₹18.12 lakh along with 2% interest to a homebuyer of its Park Terra project in Sector 37D. This decision came after BPTP’s claim that the complaint was lodged too late was dismissed. The ruling, dated March 12, 2026, pertains to two complaints from Salaj Ahlawat, the allottee. As per the order, Ahlawat secured two units in 2012 and paid ₹18.12 lakh from a total of ₹88.77 lakh. The builder-buyer agreement, signed in December 2012, stipulated that possession was to be granted by December 29, 2016, a…

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Haryana RERA Orders Sunrays Heights to Deliver Homes with Interest

GURUGRAM: The Haryana Real Estate Regulatory Authority (HRera) has mandated a developer to deliver possession of flats to allottees, along with applicable interest, due to a five-year delay. HRera has ordered Sunrays Heights Private Limited to hand over possession following multiple complaints related to an affordable housing project in Sector 63. One prominent case was filed by Kinshuki Goel, concerning the 63 Golf Drive project, which spans 5.9 acres. The order does not specify a fixed handover date. Homebuyers reported significant financial investments—some exceeding Rs 13 lakh—with possession still pending years after the initial timeline. The scheduled date for possession…

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Haryana Approves Mixed Land Use Policy, Unlocks Pending Projects

Representative Image CHANDIGARH: On Tuesday, the Haryana cabinet approved a new policy to regulate the use of land designated for mixed-use in development plans, facilitating projects that were previously on hold due to unclear guidelines. Mixed-use zones permit a blend of residential, commercial, institutional, and occasionally industrial activities. However, the lack of specific usage ratios had hindered approvals. According to the new policy, residential, commercial, and institutional activities will be allowed without a fixed percentage limit, provided they adhere to zoning and planning regulations. Industrial usage, where already authorized, will remain capped at current levels, prohibiting further expansion. However, landowners…

Latest StoriesResidential

Haryana Updates Allotment Rates for Affordable Housing Projects

CHANDIGARH: The Haryana Cabinet has approved an amendment to the Affordable Housing Policy-2013, increasing the allotment rates for apartment units in affordable group housing projects by 10-12%. During a meeting led by Chief Minister Nayab Singh Saini, the Cabinet authorized this amendment under section 9A of the Haryana Development and Regulation of Urban Areas Act, 1975, according to an official statement. The allotment rates for apartment units are specified in Clause 5(i) of the Affordable Housing Policy-2013. These rates were first established in 2013, with revisions in 2021 and 2023. The decision comes following requests from industry representatives, including the…