Page 5 - Gurugram

Gurugram sees up to 45% price rise for premium homes in last one yr: Report

Prices of premium homes -- under construction and ready -- have increased up to 45 per cent in Gurugram in the last one year, according to Savills India. Real estate consultant Savills on Saturday released a report showing that prices of completed housing units have risen by 28-45 per cent in Gurugram during the last one year. Rates of under construction homes were up 12-45 per cent. In Noida, the prices rose by 27-36 per cent for completed units and 23-47 per cent for under construction residential properties. In Gurugram, the Savills report showed that New Gurugram and Dwarka Expressway were the top performing micromarkets with an annual growth of 45 per cent and 21 per cent, respectively in average capital values of under construction properties. Golf Course Road and Golf Course Extension Road & Souther Peripheral Road registered the highest average capital value appreciation for ready-to-move properties with a year-on-year increase of 45 per cent and 39 per cent, ...

MakeMyTrip CEO, Genpact CHRO each buy Rs 33 cr apartment in Gurgaon

Rajesh Magow and Piyush Mehta each secured 6,500 sq ft apartments at The Magnolias by DLF on Golf Course Road, showing the growing demand for luxury real estate

New cities from old cities

In the current wave of building smart cities, we must focus on creating equal cities that bridges the development divide between the core and the outskirts

Amidst high demand, DLF sells properties worth Rs 1,400 cr in Haryana

Realty firm DLF Ltd on Wednesday said it has sold independent floors and commercial plots for around Rs 1,400 crore in Gurugram and Panchkula, in Haryana, amid strong property demand. DLF, the country's largest real estate developer in market cap, has launched two projects in Sector 67, Gurugram and Panchkula. "We have launched and completely sold out 75 shop-cum-office (SCO) plots in our new project 'Central 67' Gurugram," DLF Home Developers Joint Managing Director and Chief Business Officer Aakash Ohri told reporters here. These 75 units have been sold for Rs 700 crore, he said, the total land size of this project is 9 acres. The prices ranged between Rs 7 crore and Rs 25 crore. Ohri said the company has launched another project 'Valley Orchard' in Panchkula where it is developing 470 independent floors. "Out of 470 units, we have launched 400 units. All of them have been sold for Rs 700 crore," he said. The company has sold floors at Rs 9,000 per square feet. Ohri noted that

Emaar India eyes Rs 900 crore luxury housing project in Gurugram: CEO

Realty firm Emaar India will invest Rs 900 crore over the next four years to develop a luxury housing projects in Gurugram as part of its expansion plan, a top company official said. The company, which is part of Dubai-based Emaar Properties, has launched and already sold 424 luxury homes in its group housing project 'Urban Oasis' located at Sector 62, Golf Course Extension Road in Gurugram. In an interview with PTI, Kalyan Chakrabarti, CEO of Emaar India, said, "We launched a residential project after a gap of almost four years, and were humbled by the response from the market." Emaar India has sold out all 424 flats launched in the first phase for Rs 1,723 crore in revenue. It received 10 times subscription with 4,259 expression of interests for the 424 homes available. He said the demand for luxury homes in all major cities including Gurugram is very strong from both end users and investors. Asked about the project cost, Chakrabarti said it will be around Rs 900 crore excluding

Online delivery in Gurugram next year, offline store in 2: IKEA India CEO

Pulverer said that IKEA is also working on increasing sourcing from India, which currently stands at 30%

M3M India targets Rs 5,000 cr revenue from 333-acre township in Haryana

Realty firm M3M India on Wednesday said it is targeting 5,000 crore in revenue from its 333-acre township in Panipat. In a statement, the company said it has received the license to develop the 'M3M City of Dreams' township at Panipat in Haryana. The company has already sold over 700 plots -- worth about Rs 1,100 crore -- out of 2,100 plots, M3M said. M3M is expecting a topline of Rs 5,000 crore from this project. The company has received RERA registration for the entire 333-acre land parcel that it had acquired from Ambience for Rs 1,500 crore, including necessary government fees. "The company is investing Rs 1,200 crore, towards its development," M3M said, adding that the total cost, including land price, would touch Rs 2,700 crore. Gurugram-based M3M aims to deliver this project in the next 15-18 months.

Godrej eyes Rs 3,000 cr revenue from new luxury housing project in Gurugram

Realty firm Godrej Properties will soon launch a luxury housing project in Gurugram with an estimated revenue potential of around Rs 3,000 crore as it seeks to encash a rise in demand for premium residential properties. The company will develop nearly 750 apartments in a 9.5-acre housing project 'Godrej Aristocrat' located at Sector 49 in Gurugram. The starting price is around Rs 4 crore per unit. According to real estate consultants, Godrej Properties has started seeking expressions of interest (EOI) from potential homebuyers and already received more than 1,200 EOIs. Market sources said the company is expecting to generate revenue of around Rs 3,000 crore from this project. Real estate consultant Anarock Vice Chairman Santhosh Kumar said the Gurugram housing market remains buoyant despite a sharp appreciation in prices. In March, DLF Ltd sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within three days. Proper

Ganga Realty plans over Rs 1,000 cr investment on Gurugram housing project

Real estate developer Ganga Realty on Monday said it will invest more than Rs 1,000 crore to develop a luxury housing project in Gurugram, Haryana. The company will build 302 apartments in this project 'Nandaka 84', which is spread over 8.33 acres, Ganga Realty said in a statement. The housing project will be completed by 2028. Vikas Garg, Joint Managing Director, Ganga Realty, said the investment of over Rs 1,000 crore will be funded through internal accruals. The prices of the apartments and penthouses start from Rs 4.05 crore onwards. In March this year, Ganga Realty had announced investments of Rs 750 crore to build an affordable housing project in Gurugram. The company is developing 2,972 apartments in its project 'Tathastu', which is spread over 22 acres in Sector 5, Sohna-Gurugram. The price of the apartment starts from Rs 25 lakh. The demand for luxury homes have risen in Gurugram in the last two and half years. To tap this demand, many real estate developers are develo

Oberoi Realty enters Delhi-NCR; buys 15-acre land in Gurugram for Rs 597 cr

Oberoi Realty has bought nearly 15-acre land in Gurugram for Rs 597 crore to develop luxury housing project, marking its foray into the Delhi-NCR property market. The Mumbai-based company has "executed an agreement for sale with Ireo Residences Company Pvt Ltd and others for acquiring land admeasuring approximately 14.816 acre equivalent to 59,956.20 square meters at Sector 58, Gurugram, Haryana." In a regulatory filing on late Friday, Oberoi Realty said the consideration for the transaction is in the form of event/ time linked monetary consideration of up to Rs 597 crore, and up to a certain area in the project for the existing homeowners and others. The company has taken possession of this land and it will get an estimated area of 2.6 million square feet for development. "This transaction marks the company's foray into the NCR region," Oberoi Realty said. The company intends to primarily develop a luxury residential group housing project on this land parcel. Oberoi Realty has .

Signature Global Q2 loss narrows to Rs 20 cr; buys 25 acres in Gurugram

Realty firm Signature Global has posted a consolidated net loss of Rs 19.92 crore in the second quarter of this fiscal and said it will acquire an entity having 25 acres of land in Gurugram at nearly Rs 500 crore enterprise value. Its net loss stood at Rs 59.25 crore in the year-ago period. Total income also fell to Rs 121.16 crore during July-September period of 2023-24 financial year from Rs 135.68 crore in the corresponding period of the previous year, according to a regulatory filing on Thursday. Total expenses declined to Rs 144.84 crore in the second quarter of this fiscal year from Rs 223.33 crore in the year-ago period. Signature Global also announced that it has signed a definitive agreement to acquire 100 per cent stake in Gurugram Commercity Pvt Ltd (GCPL), which owns 25.14 acre land in Sector 71 Gurugram. The enterprise value of GCPL is Rs 495 crore. "The acquisition of GCPL will result in the Company owning ~25.14 acres of land parcel in the prime location of sector-

DLF to buy residual stakes in entities owning land in Gurugram for Rs 40 cr

Realty major DLF will acquire residual stakes in certain entities that own 63 acres of land parcels in and around Gurugram for around Rs 40 crore. DLF acquired development rights of these land parcels during 200910. In a regulatory filing on Tuesday, DLF said the finance committee of its board has approved the acquisition of around 5.22 per cent shareholding in Invecon Pvt Ltd and 4.48 per cent and 3.24 per cent shareholding in its affiliates namely Vikram Electric Equipment and Uni International, respectively. These entities are collectively referred to as 'land owning companies'. The land-owning companies collectively hold around 63 acres of land parcels in and around Gurugram, for which the company already has existing agreements. DLF said it is executing definitive agreements with the sellers and the land-owning companies along with its six other affiliates. After execution, these land-owning companies and six affiliates would become subsidiaries of the company. The considera

Anant Raj plans 3 housing projects with revenue of around Rs 4,000 cr

Realty firm Anant Raj Ltd plans to launch three new housing projects in Gurugram and Andhra Pradesh during the next 6-9 months with an estimated sales value of Rs 4,000 crore, as it seeks to expand business amid strong demand for residential properties. Delhi-based Anant Raj Ltd, which is listed on stock exchanges, will launch a luxury group housing project in Sector 63A Gurugram, comprising over one million square feet of developable area. The company also has plans to launch plots and villas, having a saleable area of around 1 million square feet, in its nearly 200-acre township 'Anant Raj Estate' in Gurugram. Anant Raj has also started construction of 1,900 affordable housing projects at Tirupati in Andhra Pradesh. "We are planning to launch three projects in Gurugram and Andhra Pradesh within the next 6-9 months. We are expecting a revenue of about Rs 4,000 crore from these projects," Anant Raj Ltd Managing Director Amit Sarin said. The demand is very strong largely from ...

Signature Global buys 26 acre land in Gurugram to build housing project

Realty firm Signature Global on Monday said it has acquired 25.75 acre land in Gurugram to develop a group housing project. The company did not disclose the deal value and the name of the seller. In a regulatory filing, Signature Global said the "company has entered into a Sale Deed for acquiring a land parcel admeasuring approximate 25.75 acres located at village Fazilpur, Gurugram, Haryana, for development of a group housing project." This land parcel has the overall potential developable area of about 3.25 million square feet, it added. Last month, Signature Global successfully launched its Initial Public Offering (IPO) to raise Rs 730 crore. The public issue, comprising a fresh issue of shares worth Rs 603 crore and an Offer For Sale (OFS) component of Rs 127 crore, was subscribed 11.88 times. Realty firm Signature Global has reported a 38 per cent growth in sales bookings at Rs 1,861.39 crore in the first six months of this fiscal year, on better demand for its affordable an

Two killed, 8 other passengers injured in road accident in Ayodhya

Apart from this, eight other people were injured and are undergoing treatment in the district hospital and trauma centre

KKR holdings opens new office in Gurugram for global operating model

This recent venture marks KKR's second establishment in India, reflecting the pivotal role the Asia Pacific assumes in its overarching strategy

Realty major DLF to invest Rs 1,700 cr for new shopping mall in Gurugram

Realty major DLF is likely to start construction of its new 25 lakh square feet shopping mall in Gurugram this quarter at a cost of around Rs 1,700 crore to expand business amid surge in demand for quality real estate space from retailers. At present, DLF has a retail footprint of around 42 lakh square feet comprising nine properties, including malls and shopping centres, mainly across Delhi-NCR. Around 3.4 lakh square feet retail portfolio is under DLF Ltd and rest under the DLF Cyber City Developers Ltd (DCCDL), a joint venture between DLF and Singapore sovereign wealth fund GIC. In an interview with PTI, DLF's Vice Chairman and MD (Rental Business) Sriram Khattar highlighted that the retail sector has bounced back sharply post-COVID pandemic and there has been a strong growth in footfalls and sales in shopping malls. "We are likely to start construction of Mall of India, Gurugram in the third quarter of this fiscal year," said Khattar, who has recently been elevated to this new .

Ban on firecrackers in Gurugram from Nov, green crackers allowed on Diwali

The Gurugram district administration has issued orders to ban the storage, sale and use of firecrackers in view of pollution. In the orders issued by District Magistrate-cum-DC Nishant Kumar Yadav, e-commerce companies such as Amazon and Flipkart have also been prohibited from accepting any online order for firecrackers. The orders will come into force in Gurugram district from November 1, 2023 and will remain effective till January 31, 2024. "According to the instructions of the Supreme Court, only green firecrackers which cause less pollution can be sold through licensed traders in Gurugram district. The production, sale and use of other firecrackers and sticks has been completely banned as they cause excessive air and noise pollution and also cause solid waste related problems. "The green firecrackers will be allowed to be burst only from 8 pm to 10 pm on the festival of Diwali and from 11.55 pm to 12.30 am on the occasion of Christmas and New Year," the order read. The orders

Monu Manesar to be questioned in connection with murder of two Muslim men

Police in Rajasthan will question suspected cow vigilante Monu Manesar in connection with the murder of two Muslim men from the state whose charred bodies were recovered in Haryana's Bhiwani district in February, officials said on Wednesday. Monu Manesar -- booked by Rajasthan Police for the murder of Nasir and Junaid and accused by some of inciting the recent violence in Nuh -- was nabbed on Tuesday. While the Haryana Police did not confirm that the Bajrang Dal leader had been detained, an office-bearer of the outfit's parent organisation -- the Vishva Hindu Parishad -- said he was picked up in Gurugram's Manesar. He was handed over to the Rajasthan Police after it obtained a transit remand from a court in Nuh. Monu Manesar -- whose official name is Mohit Yadav -- was then brought to Bharatpur and produced in a local court, which sent him to two-day police remand. Superintendent of Police (Deeg) Brijesh Jyoti Upadhyay on Wednesday said the court sent Monu Manesar to two days in ..

National counter-terrorist exercise of police forces planned next month

A joint exercise of various state and central police counter-terrorist forces is planned to be held next month by the federal contingency commando force NSG as part of a strategy to fine tune the national crisis management plan and enhance jointness, official sources said on Friday. The ninth edition of the exercise code-named "Agni Pariksha" is slated to be held between October 24 and November 4 at the garrison of the 'black cats' commandos force in Manesar (Gurugram). The joint national level exercise aims to enhance the counter-terrorist expertise of the state police anti-terrorist squads and those from the central armed police forces (CAPFs) as they are the first responders in case of a terrorist attack, a senior Union home ministry official told PTI. The aim of this exercise is to ensure minimum casualties and collateral damage during such operations and to achieve better results even as the NSG joins them in due course during a crisis that can occur in any form and in any part