Press Release

NAREDCO organises “Affordable Housing cum HRERA Summit- 2018″
October 18, 2018

NAREDCO organises “Affordable Housing cum HRERA Summit- 2018"17th October, 2018:  National Real Estate Development Council (NAREDCO) organises “Affordable Housing cum HRERA Summit – 2018” on 26 October, 2018 at Hotel Oberoi, Gurugram. The agenda of the summit will be to review the projects registered under the RERA, and if the authority is carrying out its effort in an efficient and smooth way or if there are some gaps which needs to be looked into. The summit will also review the policies implemented to make real estate purchase easier, by infusing improved accountability and transparency.

Shiv Vihar-Trilok Puri metro line to open in November
October 18, 2018

A section of the Delhi Metro’s Pink Line, running from Shiv Vihar to Trilok Puri, is expected to become operational in November. The 17.8 km-long metro corridor will connect Shiv Vihar in north-east Delhi to Trilokpuri in the eastern part of the national capital. The upcoming metro corridor will have 15 elevated stations, including Shiv Vihar, Johri Enclave, Gokulpuri, Maujpur- Babarpur, Jaffrabad, Welcome, East Azad Nagar, Krishna Nagar, Karkardooma Court, Karkardooma, Anand Vihar ISBT, IP Extension, Mandawali-West Vinod Nagar, East Vinod Nagar-Mayur Vihar-II and Trilokpuri Sanjay Lake. The stretch will have three interchange stations, one each at Welcome, Karkardooma Court…

Press Release

Dr. Niranjan Hiranandani takes over as a Senior Vice President, Assocham
October 18, 2018

Dr. Niranjan Hiranandani takes over as a Senior Vice President, AssochamOctober 17th, 2018  Dr. Niranjan Hiranandani, founder & MD, Hiranandani Group, takes over as the Senior Vice President of industry chamber Assocham. The announcement was made at the Annual Day Celebrations held in New Delhi on 16 October 2018, during which the adjourned meeting of the 97th AGM was held, a new managing committee was reconstituted and the new office bearers assumed office.  

Noida City Centre-Sector 62 metro link to open in December
October 18, 2018

The extension of the Blue Line Metro corridor from Noida City Centre to Sector-62, Noida will become operational soon. The 6.8 km long route from Noida Sector 34 metro station to Electronic City metro station is expected to be operational by the end of the year. The extended corridor of the Metro Blue Line will consist of six stations at Sector 34, 52, 61, 59, 62 and Electronic City. The last station at Electronic City is located at the Noida-Ghaziabad border. The new metro route will, in addition, offer a better connectivity to Indirapuram, situated just across the NH-24. Earlier,…

Housing Ministry lays stone for 120 green flats in Delhi
October 17, 2018

The Housing and Urban Affairs Ministry has laid the foundation stone for a housing project equipped with eco-friendly and green technology. The residential project will be developed in a plot measuring 26,500 sq m with all major amenities including spacious parking spaces, community toilets. The project inaugurated by Hardeep Singh Puri, Housing and Urban Affairs Minister, will consist of 120 Type-VII residential flats. The Central Public Works Department will execute the project at Pocket-I, DDU Marg, New Delhi. Officials have shared that about 15,000 sq m of the area would have a provision for rain water harvesting. The entire residential…

Press Release

Gaurs Group witnesses 500pc YoY growth in Q2
October 17, 2018

Gaurs Group witness 500% YOY growth in Q2 17th October 2018 Gaurs Group has witnessed a whopping growth of 500% YoY in Q2 of FY 18-19. The outstanding growth is the result of the increased sales in group housing projects. The group has sold 3185 units in Q2 in comparison to 538 units sold in Q2 during last financial year. The revenue in Q2 of FY 18-19 was INR 1320 crores in comparison to 220.4 crores in the same quarter of last financial year. The major sales is equally divided in ready to move-in properties and under construction projects in Gaur city…

Delhi civic body to begin doorstep service for tax payment
October 17, 2018

In a move benefitting more than 1.25 lakh senior taxpayers, the South Delhi Municipal Corporation (SDMC) will provide doorstep assistance for the payment of property tax. The ambitious scheme is likely to be launched in December 2018. It is anticipated to ease tax paying for the senior tax payers as they will no longer be required to visit the zonal office. Shikha Rai, Chairman, SDMC Standing Committee, has shared that the decision of doorstep assistance was taken on observing that senior citizens were facing difficulties in visiting the zonal offices physically. During the financial year 2017-18, out of 4,44,000 taxpayers…

Housing Ministry approves infra projects worth Rs 1,826 crore
October 16, 2018

The Ministry of Housing and Urban Affairs (MoHUA) has approved five major mobility projects worth Rs 1826.40 crore to ease traffic chaos in Delhi. The projects are being implemented using the Urban Development Fund (UDF) and have been administered by the Ministry. The five approved projects are aimed to decongest traffic movement in the capital city by segregating vehicular and pedestrian traffic by developing foot over bridge (FOB) and subways. Among the various projects, the skywalk at ITO has already been inaugurated recently. The project will provide world-class and safe connectivity at the busy traffic intersection point at ITO. The…

Delhi Govt approves over 5600 houses under PMAY
October 15, 2018

The Delhi government has recently approved the construction of as many as 5,600 affordable homes in four different areas in the capital city under the Pradhan Mantri Awas Yojana (PMAY). Satyendar Jain, Urban Development Minister, Delhi, has shared the recent development that the Delhi Urban Shelter Improvement Board (DUSIB) has given the approval for the construction of 5,594 flats for the economically weaker section (EWS) in Bhalaswa, Sangam Park, Lajpat Nagar and Dev Nagar. Out of all the sanctioned PMAY flats, nearly 3,780 flats will be built in Bhalswa-Jahangir Puri, 582 in Sangam Park, 448 in Lajpat Nagar and 784…

Delhi: Rani Jhansi flyover open for public from October 16
October 12, 2018

After several missed deadlines, the much-delayed Rani Jhansi flyover will be open for the general public from October 16, 2018. Officials have shared that Hardeep Singh Puri, Minister for Housing and Urban Development, will inaugurate the flyover on the scheduled date. With the operation of Rani Jhansi flyover, the vehicular traffic between ISBT Kashmiri Gate and Karol Bagh will be facilitated. The flyover is anticipated to ease the traffic chaos in parts of Central Delhi. The 1.6 km-long flyover starting from St Stephen's Hospital to Filmistaan Cinema will streamline the vehicular movement towards Shakti Nagar, Karol Bagh, Gulabi Bagh, Kamla…

Around 30,000 DDA flats on hold due to lack of amenities
October 11, 2018

The Delhi Development Authority (DDA) is unable to put a total of 30,000 flats in the capital city on sale due to unavailability of civic amenities such as water supply. Officials have reasoned the unavailability of water as a major hindrance in the proper execution of the housing scheme. Tarun Kapoor, Vice Chairman, DDA, has shared that the construction of residential units is in the final stage. Once the civic services are in place, the Authority will soon start the allotment process of the flats. Officials have stated that the Authority had planned to launch the new housing scheme by…

Green Tribunal orders closure of industries in residential areas of Rohini
October 11, 2018

The National Green Tribunal (NGT) has ordered a closure of industrial units running in the non-conforming residential areas of Rohini in Delhi. The Authority has further imposed a fine of Rs 50,000 each on the Delhi government, and other civic bodies for violating the rules. The NGT shared that the polluting units, including several unauthorised car workshops violating the law, should be closed immediately. An action report would be submitted to the Authority within a month. The defendants need to pay an environmental compensation of Rs 50,000 each for violating norms issued by NGT and hampering the environment. The Chief…

Delhi HC bans constructions in Nauroji Nagar
October 11, 2018

The Delhi High Court (HC) has banned construction activities in Nauroji Nagar residential project in the capital city. The order was passed after a division bench had rejected the plea of the Central Government seeking permission for the continuation of construction work in the Nauroji Nagar project. The bench comprising Chief Justice Rajendra Menon and Justice V Kameswar Rao, has shared that the construction in the region could lead to traffic chaos due to its proximity to adjoining populated areas such as Kidwai Nagar and Sarojini Nagar. However, the Court has allowed the National Buildings Construction Corporation (NBCC) to carry…

NGT directs committee to check illegal constructions across Yamuna
October 9, 2018

The National Green Tribunal (NGT) has directed the monitoring committee to carefully inspect the alleged illegal constructions on the floodplains along the Yamuna River. The decision was made by a bench, constituting Chairperson Justice, Adarsh Kumar Goel, retired expert member, BS Sajwan and former Delhi Chief Secretary, Shailaja Chandra. To identify the reasons affecting the flow of the river, a monitoring committee was established to keep a hawk eye on all unauthorised construction activities along the Yamuna. The committee has found several illegal constructions on the riverbed, parallel to the DND. These elicit constructions have been adversely affecting the ecology.…

Gr Noida Authority to allot over 1,200 flats
October 9, 2018

The Greater Noida Industrial Development Authority (GNIDA) will allot as many as 1,246 possession-ready homes at Sector 12 and Omicron 1 from October 10, 2018 onwards. The to-be-allotted houses will include different types of configurations - 1, 2 and 3 BHK units, priced between Rs 28-74 lakh.   Officials have shared that about 987 flats in Omicron 1 would be allotted, while nearly 259 ready flats will be up for sale in Sector 12, Greater Noida. All flats are RERA approved and interested homebuyers can check details about the allotment and availability on GNIDA official website. Applicants can apply online.…

Dwarka Expressway: Work on Gurgaon stretch to commence soon
October 5, 2018

Planned to be completed by 2010, the proposed Dwarka Expressway connecting Delhi and Gurgaon is still under construction, owing to land acquisition hassles. As per the latest development, the National Highways Authority of India (NHAI) has shared that they will commence the construction work on the Gurgaon section of the Dwarka Expressway in November. Officials have shared that more than 90 percent of the land has already been acquired for the development of the expressway. At first, an 18 km stretch in Haryana will be constructed. The construction work on the Delhi stretch of the expressway will commence later. The…

Noida Authority to approve building maps online
October 3, 2018

The Noida Authority has decided to introduce an online system for approving building plans for properties having an area up to 1,000 sq m. An online building plan approval system (OBPAS) window has already been created on the Authority's website for all the users to upload their building maps and other related documents. Officials have shared that the Authority receives four to five map requests of residential properties on a daily basis, which the Authority approves almost immediately. In 2017, around 1,000 building maps had been approved. SC Gaur, Chief Architect and Town Planner, Noida Authority, has shared that the…

Haryana to hike circle rates up to 25 pc in October
October 2, 2018

The district administration, Gurgaon, has decided to revise the circle rates of real estate properties in villages and sectors of sub-tehsil of Wazirabad, Badshahpur, Kadipur and Harsaru. The new rates will be applicable from October 10, 2018. This is the second time that the administration has decided to revise the circle rates. Earlier, the circle rates were revised in April. In March, the State government had announced to revise the circle rates twice a year. Officials have shared that the new rates would witness a hike of at least 10-25 percent compared to the previous financial year (2017-18). For example,…

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