Press Release

NBCC reports an increase in standalone PAT
February 14, 2019

State-owned Navratna PSU, NBCC (India) Limited has recently announced the financial results of the Company for the quarter and nine months ending December 31, 2018. The Profit after Tax (PAT) of the company for the December quarter stood at Rs 77.74 crore, reporting an upsurge of 25.61 percent as compared to the figures of the corresponding quarter of the last year.  The total standalone income from operations for the Oct-Dec 2018 quarter stood at Rs 1,651.62 crore, recording a growth of 24.98 percent, YoY. Further, the nine-month period, i.e. Apr-Dec 2018 witnessed an increase in the Company's total income from operations,…

Civic body keeps property tax unchanged in South Delhi for 2019-20
February 13, 2019

Announcing its budget for 2019-20, the South Delhi Municipal Corporation (SDMC) has exempted widows of armed and paramilitary forces, national and international sportspersons and sanitation workers from paying property tax. The corporation also rejected the proposal to increase property tax for 2019-2020 fiscal and decided to continue with the exemptions granted in the previous budget. According to an SDMC official, taxpayers who pay their property tax on time will get 15 percent rebate on taxable amount. Women, senior citizens and group housing societies will be eligible for 30, 30 and 20 percent rebate, respectively. The civic agency will also give…

Foot overbridge connecting South Campus and Dhaula Kuan metro stations now open to public
February 13, 2019

A Foot-Overbridge (FOB) linking Delhi Metro’s Dhaula Kuan and South Campus has recently been opened for the public. The overbridge, which is a crucial link for the commuters using the Pink line and the Airport Express Line will facilitate the passengers travelling to and from the Terminal 3 of the International Airport to interchange trains for further commute. The FOB has been opened for the public post inspection by the Managing Director of Delhi Metro, Mangu Singh, in the presence of other senior officials, shares Anuj Dayal, Executive Director (Corporate Communication), Delhi Metro Rail Corporation. Reported as a technological masterpiece…

Meerut Expressway and Faridabad to have a direct road link
February 13, 2019

The National Highways Authority of India (NHAI) is preparing a Detailed Project Report (DPR) for a new corridor to ease traffic congestion on the Ring Road near Sarai Kale Khan in Delhi. The decision was made to provide hassle-free traffic movement between Delhi-Meerut Expressway (NH-9) and Faridabad in Haryana. Last year, the NHAI took over the Kalindi Kunj bypass project from the Public Works Department (PWD). To commence the construction work on the Kalindi Kunj project, the Ministry of Road Transport and Highways had notified the corridor between NH-9 near Sarai Kale Khan in Delhi and Kail Gaon, Ballabhgarh and…

Foundation stone for Jewar Airport to be laid by Feb-end 2019
February 11, 2019

Prime Minister, Narendra Modi is more likely to lay the foundation stone for the Jewar Noida International Airport (JNIA) by February-end 2019. The new airport will be a second airport facility after Delhi's Indira Gandhi International Airport (IGIA) for Delhi NCR region. Recently, the Uttar Pradesh government had allocated Rs 800 crore for the international airport in Jewar along the 165 km Yamuna Expressway. The allocated sum will be utilised for rehabilitation and settlement of farmer families. The State government has already released Rs 2,850 crore for land acquisition purposes. The Noida International Airport Limited (NIAL) will soon invite bids…

DMRC inspects Dilshad Garden-New Bus Adda metro route
February 9, 2019

Metro Rail Safety Commissioner, SK Pathak, has recently inspected the Dilshad Garden-New Bus Adda section of the Delhi Metro’s red line extension. The report pertinent to the official inspection will be submitted after a week post which, the 9.41 km metro section will be ready for commissioning. Other than the high-speed testing, the track on trolly right from Dilshad Garden to New Bus Adda was also inspected by the Commissioner, shares a metro official. The project is expected to be ready for commissioning any time after 15th February 2019. Overcoming the hurdle of bustling traffic along the GT Road, the…

Delhi government to survey city slums to ensure housing and rehabilitation
February 9, 2019

In order to ensure proper housing and identify the families living in the slums, the Delhi government has decided to carry out a survey of the slums in the city. A private agency, having experience of working with underprivileged sections has been roped in by the government for the said purpose. As per an estimate, close to 15-20 lakh people live in slums. The survey will provide an updated record of the people living in about 675 slums in the city, shares Bipin Rai, Member, Delhi Urban Shelter Improvement Board (DUSIB). The survey, which will be conducted under the Mukhyamantri…

DDA to launch a new housing scheme by February end
February 7, 2019

According to a Delhi Development Authority (DDA) official, the civic body is set to launch a new housing scheme by the end of February, 2019 through which it will allot as many as 10,000 flats. Most of the 1BHK apartments are situated in Narela and will be reserved for the Economically Weaker Sections (EWS). The proposal for the scheme will be tabled before the authority in a meeting headed by Lieutenant Governor, Anil Baijal. The scheme can be launched once it gets a nod from the authority. Originally, the civic body planned to allot around 21,000 apartments through the scheme…

Delhi Development Authority launches single-window portal for land pooling
February 6, 2019

Union Minister of Housing and Urban Affairs, Hardeep Singh Puri has launched the Delhi Development Authority’s (DDA) single-window portal for land pooling. The portal will allow owners of adjacent land parcels falling under K-1, L, N and P-II planning zones to register their land. The portal offers a user-friendly experience and constitutes information with general guidelines and instructions, zone-wise maps and applicable charges. Puri said that the private sector has an active role to play in gathering land parcels and developing social and social infrastructure on the same. The new policy will enable the development body to play the role…

Noida to ban floor-wise sale of homes under new policy
February 4, 2019

The Noida Authority’s much-awaited decision to change land ownership type from leasehold to freehold will limit the buying and selling rights of property owners. It will impact homes constructed on individual plots as property owners will not be allowed to sell or register their floors independently. Considering this, Noida will only allow conversion of land from leasehold to freehold for 90 years, after which, the lease will not be renewed. Although a decision on freehold conversion of property is still awaited, officials believe that the authority will not make any revisions in the city’s bylaws related to the sale and…

Gurgaon civic body to take over eight private colonies by January end
January 29, 2019

Directed by the Chief Minister of the State, the Municipal Corporation of Gurgaon (MCG) is now all set to take over eight colonies by the end of January 2019. The Department of Town and Country Planning (DTCP) has been directed to recover the funds from the developers of these colonies as mentioned in the Detailed Project Report (DPR), shares MCG Commissioner, Yashpal Yadav. The decision was made in a meeting chaired by the Chief Minister in Chandigarh. The meeting was conducted to discuss the takeover of the colonies by the Civic body, Yadav shares further. Owing to the inability of…

Press Release

Stanza living launches real estate app
January 28, 2019

World-class student residence provider, Stanza Living, has recently launched the Stanza Estate app for the real estate owners. Launched as a part of the company’s growth strategy, the app is designed to enable quick and efficient listing of properties. Further, it will also aid the property owners, brokers, real estate consultants and developers to efficiently partner with Stanza Living and create bespoke and high-quality student accommodations in key educational hubs like Bengaluru, Hyderabad, Chennai, Pune, Indore, and Ahmedabad.

Ministry launches Akshardham-Saharanpur highway project
January 28, 2019

To decongest traffic movement in Delhi and its adjoining areas, the Central Government will develop several highway projects worth Rs 50,000 crore. Recently, Nitin Gadkari, Road Transport and Highways Minister, has laid the foundation stone for a Rs 2,820 crore highway project which will connect Akshardham to the Eastern Peripheral Expressway (EPE) on Baghpat Road. The high-speed signal-free 31.3 km-long road corridor from Akshardham to Saharanpur bypass will decongest traffic movement and reduce the pollution levels in Delhi NCR. The six-lane access controlled highway project will pass through areas such as Akshardham, Geeta Colony, Shastri Park, Khazuri Khas, Delhi/UP border,…

Aqua Metro line connecting Noida, Gr Noida opens for public
January 25, 2019

Finally, the metro rail linking the twin-cities of Noida and Greater Noida has become operational. The new metro corridor, also known as the Aqua Line was inaugurated by the Uttar Pradesh Chief Minister, Yogi Adityanath. The newly inaugurated metro will run between Sector 71 station in Noida and the Depot Station in Greater Noida. The stretch has a total of 21 stations on the corridor - 15 of them in Noida and six in Greater Noida, covering a distance of 29.7 km. The train will halt on the Sector 76, 101, 81, NSEZ, Noida Sector 83, 137, 142, 143, 144,…

Centre approves Dilshad Garden-New Bus Adda Ghaziabad metro corridor
January 24, 2019

After missing two deadlines, the Centre has finally given the nod to the Dilshad Garden-New Bus Adda Ghaziabad metro corridor at a cabinet meeting headed by Prime Minister Narendra Modi. The 9.41 km-long stretch is an extension of the Delhi metro’s red line and is anticipated to strengthen public transport to the National Capital Region (NCR). The total completion cost of the project is estimated at Rs 1,781.21 crore, of which the Centre has approved its share of financial assistance worth Rs 324.87 crore. Following the Centre’s approval, the new metro stretch will be inspected by the Commissioner for Metro…

Gurgaon: DTCP approves 19 affordable housing projects
January 22, 2019

In Gurgaon, the Department of Town and Country Planning (DTCP) has granted licences to 19 new affordable housing projects. In 2018, the department had received around 69 applications for affordable housing licences in Gurgaon. The applications were submitted after the State government had amended its Affordable Housing Policy to extend an existing cap of 300 acres in Gurgaon district to 1,935 acres. Officials have shared that the department has accepted 19 applications till date. About five applications have been rejected due to various shortcomings. The remaining 45 applications are under scrutiny. KM Pandurang, Director General, DTCP, has stated that the…

Ghaziabad civic body shortlists 11 members for conciliation forum
January 21, 2019

In a bid to settle disputes between developers and homebuyers, an 11-member conciliation forum has been finalised by the Ghaziabad Development Authority (GDA) which will be mandated by the Uttar Pradesh Real Estate Regulatory Authority (UPRERA). As many as 12,000 homebuyers in Ghaziabad are currently facing disputes with the developers. According to officials, five members each have been shortlisted from the Residents’ Welfare Associations (RWA) and developers’ body, Confederation of Real Estate Developers Association of India (CREDAI). The remaining one is a member of the GDA. The development authority has sent the names of the members to UPRERA Secretary, Abrar…

Press Release

Zen-inspired co-working space launched in Noida
January 21, 2019

Zen-inspired co-working space launched in Noida21st January 2019 An all-new co-working space, Eccosphere has been launched in Noida using the Zen Buddhist philosophy. Strategically located in Sector 67, the co-working space has been set up to serve the requirements of startups, entrepreneurs and freelancers in the city. The newly launched space is approachable from NH-24 and the FNG corridor. The ambience of the co-working space has been inspired by the Zen Buddhist philosophy and created by using plants, natural light, and manmade materials to transform the place into an ideal co-working space in the region. The entire IT infrastructure is…

Page 1 of 141