Page 9 - Gurugram

Ganga Realty to invest Rs 750 cr to build affordable housing project

Real estate firm Ganga Realty will invest Rs 750 crore to build an affordable housing project in Gurugram. The company will develop 2,972 apartments in new project 'Tathastu', which is spread over 22 acres in Sector 5, Sohna-Gurugram. The price of the apartment starts from Rs 25 lakh. "The company will spend Rs 750 crore to build an affordable housing project," Ganga Realty said in a statement. Vikas Garg, Joint Managing Director of Ganga Realty, said the total project cost is Rs 750 crore and this will be funded through internal accruals and customer advances. The project is expected to be delivered by the first quarter of 2027. Garg noted that Sohna is primarily an end user driven market. In affordable housing segment, realty firm Signature Global is a leading player in the Gurugram market. According to property consultant Anarock, sales of residential properties in Gurugram jumped over two-fold to 32,617 units during 2022 on higher demand across all price categories affordab

DLF to invest Rs 3,500 cr in next 4 yrs on housing project in Gurugram

Realty major DLF will invest around Rs 3,500 crore over the next four years to construct a new luxury housing project in Gurugram as its seeks to tap strong demand for residential properties. DLF will develop a new group housing project 'The Arbour', which is spread over 25 acre and comprises 5 towers with a total of 1,137 premium apartments. DLF, the country's largest real estate firm in terms of market cap, sold all 1,137 units, each costing Rs 7 crore and above, for over Rs 8,000 crore within 3 days (February 15-17). In an interview with PTI, DLF Ltd CEO Ashok Tyagi said, "We will develop around 4.5 lakh square feet area in this new project." Asked about the construction cost, he said it will be between Rs 7,000-8,000 per square feet given the amenities promised in this luxury project. Tyagi said the overall construction cost has shot up due to increase in prices of key materials like cement and steel. The total construction cost will be around Rs 3,500 crore over the next fou

HARERA revokes agent's RERA registration obtained on forged documents

The HARERA has also marked an inquiry into the matter taking instant cognizance of the complaint in this regard

Gurugram health department collects samples of 30 influenza suspects

The health department has sent the samples of 30 patients suspected of suffering from H1N1, H3N2 for examination, an official said on Friday

DLF sells 1,137 flats in Gurugram for over Rs 8,000 crore within 3 days

Realty major DLF Ltd on Thursday said it has sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days, reflecting a strong demand for premium flats across major cities. In a regulatory filing, DLF informed that it has "witnessed record breaking pre-formal launch sales of Rs 8,000-plus crores for its luxury high-rise residences, The Arbour". DLF will build 1,137 4BHK apartments across five towers (38-39 storeys) in this 25-acre project. The project is located at Golf Course Extension Road, Sector-63 Gurugram. The project has been fully sold out within three days even before its launch, DLF said. Aakash Ohri, Group Executive Director and Chief Business Officer, DLF Ltd, said, "Our latest luxury offering, 'The Arbour' has received a phenomenal response even before it was launched." The interest shown by discerning homebuyers in the country and overseas is clearly an endorsement of the highly aspirational DLF

Max Estates to invest Rs 3,400 cr to develop 4 projects in Noida, Gurugram

Max Group's realty firm Max Estates will invest around Rs 3,400 crore over the next five years to develop two housing and two commercial projects in Noida and Gurugram as part of its expansion plan. Max Estates, which is subsidiary of Max Ventures and Industries Ltd (MaxVIL), has developed three premium office complex in Noida and Delhi, comprising around 15.5 lakh square feet area and one small boutique luxury housing project in Dehradun. "We have entered into residential real estate segment. We have acquired one land parcel in Noida and entered into a joint development agreement with landowner for a housing project in Gurugram," MaxVIL MD and CEO Sahil Vachani told reporters here. He said the company would launch housing project in Noida in July comprising 250 units, while the one in Gurugram, having 1,200-1,400 units, will be launched next year. That apart, Max Estates will develop two office complexes in Noida and Gurugram comprising 26 lakh square feet leasable area. Asked ab

Man held for stealing flower pots set up for G20 event in Gurugram

Gurugram police have arrested one person in connection with a case related to theft of flower pots set up for the G20 event, police said on Wednesday

Max Estates eyes over Rs 3,200 cr revenue from housing project in Gurugram

Max Ventures & Industries Ltd's (MaxVIL) real estate arm Max Estates has entered into an agreement to develop a 12-acre housing project in Gurugram with an estimated sales revenue of over Rs 3,200 crore. MaxVIL said in a statement that it has entered the Gurugram residential real estate market through a joint development agreement, with development potential of around 2.4 million square feet and gross development value in excess of Rs 3,200 crore. The size of land parcel is about 11.8 acres and it is located in Sector 36A, Gurugram, with direct access from the Dwarka Expressway. Sources said that MaxVIL has entered into a joint development agreement (JDA) with Mohit Jain who owns the land in his personal capacity. Jain is managing director of Krisumi Corporation, which is a joint venture of auto component maker Krishna Group and Japan's Sumitomo Corporation Ltd. Commenting on the deal, Sahil Vachani, MD & CEO of Max Ventures & Industries Ltd, said, "FY2023 has been a ...

Urbanisation and urban dynamics

Cities are not just an economic landscape. In the post-Covid world there is a need to understand the role culture plays in how a city grows beyond its economic allure

Delhi-Mumbai expressway's first leg to boost Gurugram market, say realtors

It will give a huge boost to the residential and commercial market in Gurugram's Sohna and to industries, warehousing & logistics as well

Haryana real estate regulator forfeits bank guarantees of JMS Infra Realty

The Haryana real estate regulatory authority (HRERA), Gurugram has forfeited the bank guarantees of real estate promoter JMS Infra Realty Private Limited as the promoter failed to submit approved service plans and estimates as well as zoning plan of its project on time. As per the conditions for granting RERA registration certificate (RC) in March 2022, the promoter had to submit the approved service plans and estimates and the approved zoning plan of the project within three months. The promoter had submitted Rs 25 lakh each for the two conditions as security deposit with the authority. "The bank guarantees were submitted to authority by the promoter as security for timely submission of approved service plans and estimates and approved zoning plan as stated in the registration certificate which was issued to the promoter by the Haryana real estate regulatory authority, Gurugram in March 2022," said the authority. "Since the promoter has not complied with the conditions of the ...

DLF plans to launch Rs 7,500 cr-worth premium housing project in Gurugram

Realty major DLF Ltd plans to launch a luxury housing project in Gurugram next month with an estimated sales revenue of around Rs 7,500 crore as it seeks to tap strong demand for high-end apartments. The company plans to develop around 1,100 apartments in this residential project, DLF Group Executive Director and Chief Business Officer Aakash Ohri told PTI. "We are planning to launch next month a premium residential project in Sector 63 Gurugram. The estimated sales realisation of this project will be around Rs 7,500 crore," he said. "Demand for real estate across various price points is very strong, especially for products offered by trusted developers," Ohri said. DLF, the country's largest real estate firm in terms of market capitalisation, achieved a 45 per cent growth in sales bookings to Rs 6,599 crore in April-December period of this fiscal and is on track to achieve its annual sales guidance of Rs 8,000 crore. DLF's sales bookings stood at Rs 4,544 crore in the year-ago ..

Chintels Paradiso collapse: CBI takes over probe; developer Saloman booked

The CBI filed an FIR against Ashok Saloman of the Chintels Group and took over investigation into the partial collapse of Chintels Paradiso apartment complex in Gurugram last year

Drones, microlight aircraft, gliders, kites banned in Gurugram till Jan 26

The district administration here imposed prohibitory orders under Section 144 of the CrPC with an eye on security ahead of Republic Day. Flying drones, microlight aircraft, gliders, hot-air balloons, kites and Chinese microlights will be prohibited till January 26, according to an order issued on Friday by District Magistrate and Deputy Commissioner Nishant Kumar Yadav. Yadav has ordered operators of cyber cafes, guest houses, hotels and paying guest accommodations and landlords and other offices to keep records and ID proofs of tenants, servants, visitors and guests. "Orders have been issued in view of security reasons to curb the activities of anti-social elements on the occasion of Republic Day. "Action will be taken against those who disobey the orders under Section 188 of the Indian Penal Code," the district administration said in a statement.

Godrej Properties buys 9-acres of land in Gurugram to build Rs 2.5k cr proj

Godrej Properties has bought an about 9-acre land in Gurugram to develop a housing project with sales potential of Rs 2,500 crore. In a regulatory filing on Thursday, the company said it has acquired the land through an outright purchase. It did not mention the deal value and the name of the seller. This project will offer about 1.6 million square feet of premium residential development. The project will have an estimated revenue potential of about Rs 2,500 crore. The site is strategically located with easy access from Golf Course Road Extension, also known as Southern Peripheral Road. Gaurav Pandey, MD & CEO Designate, Godrej Properties, said, Gurugram is an important market for us and we are happy to add this city center land parcel to our portfolio." This project will allow us to significantly increase our market share in Gurugram over the next several years, he added. Sitting on a huge cashpile with plans to invest USD 1 billion, Godrej Properties is acquiring land -- thro

Haryana court allows STF to take voice sample of gangster in Rs 30-cr heist

A city court on Monday allowed the Haryana Special Task Force (STF) to take the voice sample of gangster Vikas Lagarpuria, the alleged mastermind in a multi-crore heist here, police said. After his 10-day police remand ended, Lagarpuria was produced in the court on Monday which sent him to judicial custody, they said. In a statement, the STF said it has recovered Rs 4.12 crore of the Rs about 30 crore heist on the inputs of Lagarpuria. To match his voice with the audio that surfaced after the theft, the STF filed an application in the court to take the voice sample of Lagarpuria, police said, adding the court allowed it despite the gangster's refusal to do so. The incident of the multi-crore heist had taken place in Gururgram on August 4, 2021. The accused had broken into a flat in Sector 84 from where an office of a private company was being run and decamped with cash and gold worth Rs 30 crore. A senior STF official said they have approached the Forensic Science Laboratory (FSL)

Gurugram health department on alert amid rising cases of coronavirus

In view of rising Covid cases in various countries, the Gurugram Health Department issued a fresh advisory to the govt as well as private hospitals to make proper arrangements to deal with Coronavirus

Godrej Properties eyes Rs 3,000 cr sales revenue from new land in Gurugram

Godrej Properties is expecting around Rs 3,000 crore sales revenue from development of a new housing project in Gurugram. In a regulatory filing, the company said it has "entered into an agreement for development of 14.27 acres of land in Gurugram, Haryana." The development will comprise predominantly premium residential apartments. The proposed development on 14.27-acre land will have an estimated revenue potential of about Rs 3,000 crore, it said. Godrej Properties is expanding aggressively to encash rise in housing demand. It is acquiring land outrightly and also entering into partnership with land owners to develop new projects. Earlier this month, Godrej Properties Executive Chairman Pirojsha Godrej had said, "We have added projects worth Rs 16,500 crore so far this financial year and have already crossed our full-year guidance of Rs 15,000 crore. Given strong further visibility, we will end 2022-23 fiscal much ahead of the target." With the addition of this project, the com

Haryana RERA slaps Rs 25 lakh penalty each on 5 builders in Gurugram

The Gurugram bench of the Haryana real estate regulatory authority (HRERA) has imposed penalties of Rs 25 lakh each on five builders after they failed to deliver their housing units to buyers on time. The regulator, however, allowed the realtors' RERA registration certificates to remain in force with new timelines for completion of their projects. As per the official statement, Identity Buildtech Private Limited has been fined for not completing its project Ansal Highland Park at Sector 103 within the declared timeline of June 2022. In this case, the authority has allowed the RERA registration to be in force till May 2024. Similarly, a penalty of Rs 25 lakh has been imposed on BPTP Limited for not completing its project Park Terra at Sector 37-D, Gurugram. The deadline for this project, which was April 2022 earlier, has been extended till April 24. Another developer Advance India Projects Limited has been penalised for its failure to complete the construction of Zen Residences -1 .

Illegal colonies in Gurugram on agricultural land under DTCP lens

Dept of Town and Country Planning has issued notices to 16 people involved in developing illegal colonies in Sohna, Bhondsi, Rithoj, Pataudi, Farrukhnagar, Sultanpur in this satellite city of Haryana