Tag: Gurugram

IndustryLatest Stories

Signature Global Q3 FY26 Sales Bookings Down 27% to ₹2,020 Cr

NEW DELHI: Realty firm Signature Global reported a 27% drop in sales bookings to ₹2,020 crore for the quarter ending in December, despite high festive demand for housing properties. The Gurugram-based company sold properties worth ₹2,770 crore during the same period last year. According to a regulatory filing, Signature Global sold 408 units in the October-December period of this fiscal year, down from 1,518 units in the year-ago quarter. Sales bookings, measured in area, fell to 1.44 million sq ft from 2.49 million sq ft. Real estate developers typically see increased sales during the October-December period due to festive demand.…

Latest StoriesRegulatory

Gurugram’s tax drive raises ₹30 crore in just 45 days

GURUGRAM: As the end of the financial year approaches, the MCG has ramped up its efforts to recover property taxes, collecting Rs 30 crore in the last six weeks, which represents about 10% of the total property tax revenue goal for the current fiscal year. In this initiative, the civic authority sealed off 55 properties due to non-payment and issued 410 notices to defaulters, as reported by taxation officials. The MCG aimed to collect Rs 275 crore in property tax for the financial year and has already surpassed this target, amassing Rs 295 crore. Officials indicated that the focus is…

CommercialLatest Stories

CapitaLand sells Gurugram office for ₹2,050 crore to EAAA

Representative Image Singapore-based CapitaLand has sold a 1.9 million sq ft commercial property located in Gurugram to EAAA Alternatives for ₹2,050 crore. This move is part of CapitaLand’s strategy to generate capital through significant asset divestments and to enhance its portfolio. According to a source familiar with the matter, “CapitaLand’s strategic exits reflect the changing demand dynamics in India’s office market, where hybrid work trends and selective tenant preferences are redefining valuations and capital movements.” The property, known as International Tech Park in Gurugram, is home to prominent tenants such as Optum, Stryker, and Zomato. This year, CapitaLand India Trust…

Latest StoriesRegulatory

SC issues notice to Centre & CPCB on Gurugram NGT plea

GURUGRAM: On Tuesday, the Supreme Court issued notices to the Centre and the Central Pollution Control Board (CPCB) regarding a civil appeal that challenges a National Green Tribunal (NGT) order. This order dismissed claims that a luxury apartment complex in DLF 3 was constructed by unlawfully diverting a designated protected forest area. The appeal was initiated by retired IFS officer RK Sharma along with journalist and social worker Pawan Kumar Bansal. They are contesting the NGT’s July 11, 2024 order, which rejected their concerns regarding the area near the Delhi-Gurgaon border. Bansal informed TOI that they approached the court because…

Latest StoriesResidential

Gurugram: Four unsafe NBCC Green View towers to be demolished

GURUGRAM: The district administration has approved the demolition of four towers—A, B, C, and D—at NBCC Green View in Sector 37D, which were deemed uninhabitable four years ago. The deputy commissioner, Ajay Kumar, granted this permission after a comprehensive review, allowing for reconstruction once these structurally unsafe buildings—housing 580 flats—are removed. Officials noted that this decision was made to avoid any further delays that could endanger public safety. This approval comes after the National Buildings Construction Corporation (India) submitted a demolition request last September. A committee led by the additional deputy commissioner thoroughly evaluated the application. During discussions, the administration…

InfrastructureLatest Stories

NGT Requests Report on Four Encroached Ponds in Gurugram

GURUGRAM: The National Green Tribunal (NGT) has given the Haryana government two months to respond to a petition that claims encroachment on four ponds recorded in the city’s revenue documentation, one of which has a three-storey office built over it by a former municipal councillor. The petition, brought forward by activist Vaishali Rana, was heard by NGT’s principal bench on January 5. Justice Arun Kumar Tyagi led the bench, instructing the state and other involved parties to submit their responses within two months, detailing actions taken to comply with Supreme Court mandates for protecting and restoring ponds and village commons.…

InfrastructureLatest Stories

Illegal Construction Soars in Raisina Hill: Walls, Roads Razed

GURUGRAM: Construction is thriving in the Raisina hills, despite the National Green Tribunal (NGT) ordering Haryana to dismantle illegal structures on protected Aravali lands. In response to ongoing activities, the forest department initiated another demolition drive, removing structures and boundary walls from approximately 25 acres. They also sealed a borewell and dismantled pillars at two sites that seemed to be intended for future construction. Forest officials also blocked four roads constructed to provide access to forest areas. This action was taken following repeated court orders prohibiting non-forest use on land classified as ‘gair mumkin pahad’ (uncultivable hill). The Raisina region…

IndustryLatest Stories

Gurugram: Strict Checks on Building Code Violations in DLF 1-5

GURUGRAM: Following the directives of the Punjab and Haryana High Court, the Department of Town and Country Planning (DTCP) has initiated a thorough verification drive to investigate discrepancies in sanctioned building plans and occupation certificates within licensed plotted colonies across DLF phases 1 to 5. Official records indicate that a meeting took place on January 5, chaired by the district town planner (enforcement) to assess progress on the High Court’s order from November 26. This meeting followed the establishment of multiple inspection teams by the senior town planner in an official directive issued in December. In compliance with the court’s…

Latest StoriesRegulatory

Gurugram: ED Seizes ₹50 Crore in Assets from Ocean Seven Buildtech

Representative image NEW DELHI: The Enforcement Directorate (ED) has seized a villa, a hotel, a resort, along with several land parcels and deposits exceeding Rs 50 crore as part of a money laundering investigation concerning a fraud involving homebuyers tied to Gurugram’s Ocean Seven Buildtech Pvt Ltd (OSBPL). The ED’s statement indicated that Swaraj Singh Yadav, the company’s promoter, was instrumental in orchestrating this fraudulent scheme by misappropriating funds gathered from homebuyers intended for housing construction. Yadav was arrested in November as part of the ongoing investigation. The assets seized include a villa, hotel, resort, multiple office spaces, and several…

Latest StoriesRegulatory

Gurugram Seals Two Properties Over Tax Delinquency

Representative Image GURUGRAM: The MCG has ramped up its actions against property tax defaulters, sealing two properties in Saraswati Enclave due to overdue payments totaling ₹43 lakh. Officials reported that one property had an outstanding tax of ₹20.9 lakh, while the other owed ₹22 lakh. This action follows the failure of property owners to settle their dues despite numerous reminders. The sealing drive is part of ongoing efforts to bolster revenue collection and ensure tax compliance. In the past 15 days, the MCG has sealed 28 properties in Zone 1 alone. Additionally, 33 more properties have been flagged for potential…