Press Release

Central Park launches ultra-luxury Cerise Suites in South of Gurgaon
April 25, 2017

Central Park launches ultra-luxury Cerise Suites in South of Gurgaon25th April 2017 NCR-based ultra-luxury realty brand, Central Park announced the launch of Cerise Suites, low-rise air conditioned suites with party terrace and elevator at their premium township, Central Park Flower Valley in Sohna Sector 32-33, Gurgaon. With an inviting proposition of ‘Live the Life You Imagined,’ Cerise Suites offers apartment sizes ranging from 1210 sq ft to 1255 sq ft across 4 floors starting at… Read More

Yamuna E-way & Gr Noida authorities seek legal action against 100 builders
April 25, 2017

The Greater Noida Industrial Development Authority (GNIDA) and Yamuna Expressway Industrial Development Authority (YEIDA) are all set to tighten the noose around erroneous developers in the region who have failed to offer timely possession of their projects. Both authorities will soon take action against 100 such builders who are yet to clear cumulative outstanding dues of more than Rs 10,000 crore. To address such issues being faced by the homebuyers, a four-member committee was formed… Read More

Longest Delhi Metro corridor to open in a year’s time
April 23, 2017

Majlis Park-Shiv Vihar (Line 7), the longest Delhi Metro corridor, is expected to be operational in April 2018, subject to availability of land. Based on ground reports, the revised schedule for the 59 km-long line and other corridors was updated by Delhi Metro, recently. As confirmed by Delhi Metro Rail Corporation (DMRC) officials, work on Majlis Park to Lajpat Nagar portion of the corridor will be completed by September 2017 while commissioning the entire stretch… Read More

DLF areas, Sushant Lok & Palam Vihar in Gurgaon to be transferred to MCG
April 22, 2017

The maintenance of three private licenced colonies in Gurgaon – DLF Phases (1 to 3), Sushant Lok Phase 1 and Palam Vihar will be finally taken over by the Municipal Corporation of Gurugram (MCG). Putting an end to a long battle fought by the city residents, Manohar Lal Khattar, Chief Minister (CM) gave his nod to transfer of these townships to the Corporation for maintenance of electricity and other civic infrastructure. While DLF Phases 1… Read More

Industrialists to move SC for removal of Kherki Daula toll plaza
April 22, 2017

In a bid to get the Kherki Daula toll plaza removed for the last time, Manesar’s Industry representatives could approach the Supreme Court. Haryana State Industries and Infrastructure Development Corporation’ (HSIIDC) has earlier asked industries to contribute Rs 200 crore for the removal of the toll plaza, which has been refused by industries of the region. As per industrialists in the area, the HSIIDC promised them to remove the toll plaza in December 2016, however,… Read More

Yamuna Expressway authority cancels 17 more housing projects
April 21, 2017

Yamuna Expressway Industrial Development Authority (YEIDA) recently cancelled the building plans of 17 projects that were falling under its ambit. The cancellation of the plans was a response of five builders failing to clear objections raised by the Authority regarding previous building plans. These objections were to be addressed by the builder who had to re-submit the revised building plans for approval. However, all builders failed to address the objections raised by the Authority, which… Read More

Supertech targets completion of 15,000 housing units in 2017-18
April 13, 2017

NCR-based real estate player, Supertech aims to invest Rs 2,500 crore in a bid to deliver 15,000 units across Delhi NCR in 2017-18. In keeping with the goal, the firm has already completed 8,500 units in 2016-17, despite its sales taking a 50 percent hit post demonetisation. Going forward, Supertech intends to launch affordable housing projects, comprising 40,000 units, at an investment of around Rs 4,000 crore. Read More

Delhi Metro to launch its housing scheme in May 2017
April 12, 2017

The Delhi Metro Rail Corporation (DMRC) plans to launch its first public housing scheme in May 2017. Until now, the authority had constructed residential projects only for its staff in Yamuna Bank, Shastri Park, and Pushp Vihar. DMRC has identified two plots near Janakpuri (west) and Okhla metro stations for constructing 460 and 90 flats, respectively, and hopes to sweep up Rs 500 crore from the scheme. These localities will witness the development of 2-3BHK apartments… Read More

Vasundhara in Ghaziabad to witness hike in property prices
April 12, 2017

With effect from April 1, 2017, the circle rates for both residential and commercial plots in Ghaziabad’s Vasundhara have been revised. The Uttar Pradesh Housing Board has hiked the circle rates in the locality by approximately 16 percent, which is expected to make properties in Vasundhara more expensive. In the residential category, circle rates in even-numbered sectors have been pushed up from Rs 42,000 per sq m to Rs 48,800 per sq m. Meanwhile, the rate for… Read More

Centre orders DDA to halt regularisation of farmhouses in Delhi
April 12, 2017

The Delhi Development Authority (DDA) has been asked to stop regularising farmhouses in the nation’s capital until further notice. This announcement has been prompted by the pending amendments in the regularisation policy. Hansraj Gangaram Ahir, Union Minister of State for Home Affairs, shared that according to the Master Plan of Delhi (MPD) 2021, the existing farmhouses are located in villages notified as Low Density Residential Area (LDRA) and the policy for LDRA has already been… Read More

Noida records lower collection of stamp duty and registration fee in 2016-17
April 11, 2017

The Gautam Budh Nagar’s Stamp and Registry Department has registered a colossal gap of Rs 462.2 crore in its revenue as against its annual target of Rs 2,223.6 crore in the financial year 2016-17. Recording a significant fall in the registration of real estate assets in Noida and Greater Noida since the Centre’s demonetisation move, the department collected only Rs 1,761.4 crore from April 2016 to March 2017. As confirmed by officials, the department had… Read More

Government modifies Delhi building byelaws
April 10, 2017

In a significant move, the government has modified building byelaws of Delhi to allow home owners to carry out minor alterations or constructions without a permit. Trivial works like re-roofing no longer need prior approval if they do not violate any safety, stability, or built-up area norms. Further, the amended byelaws state that in case of constructions in a plot greater than 2,000 sq m, the building material will have to be stored within the… Read More

State government revives Jewar airport project
April 10, 2017

The much anticipated Jewar airport has received a fresh lease of life as Uttar Pradesh’s Chief Minister Yogi Adityanath has asked state officials to work towards executing the project. Officials have been directed to acquire the requisite approvals from the civil aviation ministry at the earliest. First proposed in 2001, Jewar airport was proposed to ease the mounting air traffic at New Delhi’s Indira Gandhi International (IGI) Airport. However, the project was stuck due to… Read More

Connaught Place among top 10 costliest office markets in the world: Report
April 4, 2017

According to a report by CBRE, Connaught Place (CP) in Delhi has emerged as the world's ninth most expensive office location despite limited space issue. Located in the heart of the national capital, CP attracts annual prime rent of $105.71 per sq ft, primarily due to the excellent great infrastructure and connectivity to other parts of the city. In CBRE's list of costliest office locations in the world, Mumbai's Bandra Kurla Complex (BKC) held the… Read More

Gurgaon circle rates may be slashed by 5%
April 4, 2017

In an attempt to boost the city’s realty, the Gurgaon administration has proposed a reduction in the circle rates by five percent across all segments. Even though there were no revisions in circle rates during 2014-15 and 2015-16, the city saw little demand for real estate recently. According to this year’s proposal, which has been sent to Chandigarh, the rates would be revised by five percent to streamline the property prices. Industry experts believe that… Read More

NHAI takes over Central Peripheral Road project in NCR
April 2, 2017

The construction of the 3.2 km long Central Peripheral Road (CPR) in the National Capital Region (NCR) has been handed over to the National Highways Authority of India (NHAI). This decision has been prompted by the failure of the Haryana Urban Development Authority (HUDA) to execute the project despite having acquired 102 acres of land for the project. Officials share that CPR had been proposed to connect Dwarka Expressway with the Southern Peripheral Road (SPR). Since… Read More

Yamuna Expressway allottees to receive possession of 6,029 flats, plots in 3 months
March 31, 2017

The Yamuna Expressway Industrial Development Authority (YEIDA) has announced that it will be offering possession of 6,029 residential plots and apartments in the coming months. This news has sent a frisson of relief among 21,000 allottees who have been waiting for seven years for their properties. YEIDA officials have shared that the allottees holding plots spread over 300-500 sq m should expect possessions within the next three month. Allotted in during 2009-2013, these plots and apartments are… Read More

Co-working firms in Gurgaon lease 0.12 million sq ft during 2016: Report
March 30, 2017

Covering 10 percent of the overall co-working leasing across key cities, co-working companies leased 0.12 million sq ft of office space in Gurgaon in 2016, stated a report by Colliers International. The report predicts that this demand is set to grow further in the quarters to come. Employment hubs of Golf Course Road, Sohna Road, Udyog Vihar, Sector 44, and Sector 29 in the millennium city emerged as most preferred locations for co-working spaces. Start-ups,… Read More

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