Tag: South Delhi

Latest StoriesRegulatory

Two Builders Arrested in Delhi Collapse that Killed Six

NEW DELHI: On May 30, the Delhi Police arrested a builder and a contractor over the collapse of a multi-storey building in Saidulajab, which resulted in six fatalities and eight injuries, officials announced on Tuesday. The suspects, identified as Avinash Gupta and Manish Khatri, were allegedly linked to the building’s construction and were taken into custody in various locations around the city. Investigators are currently questioning them regarding the construction process, permissions obtained, and their roles in the unauthorized addition of extra floors. Previously, the police had apprehended Karamveer, the building’s owner. During questioning, he indicated that construction on the…

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Golden Growth Fund Buys Land in Gulmohar Park, South Delhi

Representative AI image NEW DELHI: The Golden Growth Fund (GGF), a Category II real estate-focused alternative investment fund, has secured a land parcel in South Delhi’s Gulmohar Park for a residential project with an expected revenue potential of approximately ₹100 crore. The project will be constructed on a 500 sq yd site, offering a total built-up area of around 20,000 sq ft, which will include four independent floors. Grovy India will oversee the development. This marks the fund’s third acquisition in South Delhi since its inception in September 2024, following investments in Anand Niketan and Neeti Bagh. The acquisition aligns…

Latest StoriesRegulatory

Delhi HC Denies Restraining Property Sale Amid Frivolous Case

NEW DELHI: The Delhi High Court has stated that frivolous cases filed against a property cannot be used as a “weapon of harassment,” allowing an owner with a contested building to proceed with its sale or transfer. “The law acknowledges that courts possess the authority, in suitable cases, to exempt properties from the constraints of Section 52 of the Transfer of Property Act. This exemption serves to protect genuine property owners from being ensnared in vexatious, frivolous, or bad faith litigations,” remarked Justices Anil Kshetarpal and Harish V Shankar in a recent ruling. The court also levied a penalty of…

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Grovy India reports ₹1.1 crore profit in Q1 FY26

NEW DELHI: Realty firm Grovy India Ltd reported a net profit of ₹1.1 crore in the first quarter of the current fiscal year. In the same period last year, the Delhi-based company faced a net loss of ₹25 lakh. According to Grovy’s statement, total revenue surged to ₹8.3 crore for the April-June quarter, up from ₹1.3 crore during the same timeframe last year. Founded in 1985, Grovy India specializes in real estate development and consultancy, having completed over 100 independent floor projects mainly in South Delhi. The company is currently developing more than 1 lakh square feet of luxury apartments…