News

Environmentalists urge Haryana to withdraw bill that lifts PLPA shield from Aravalis

GURUGRAM: The contentious Punjab Land Preservation (Haryana Amendment) Bill was passed by the state government in 2019. Two years on, there is still a growing clamour for scrapping the bill. The bill, which is yet to be notified, was passed by the state government in February 2019 despite vehement objections and without a select committee […]

Delhi civic bodies issues final warning to high-rises to do safety check

NEW DELHI: Receiving a tepid response from highrise buildings that were served notices nine months ago for submitting structural audit reports, Delhi’s civic bodies have now resorted to issuing final warning for disconnecting water and electricity supply if no response is received within a month. South Delhi Municipal Corporation has dispatched over 30 such warnings, […]

Vatika Group clears debt worth Rs 1,109 crore

NEW DELHI: NCR-based real estate developer Vatika Group and its associated companies have repaid debt worth Rs 1,109 crore within a period of 11 months, said a company statement. The debt has been cleared by selling combinations of lands worth Rs 450 crore, finished inventories worth Rs 500 crore and company’s shares worth Rs 170 […]

Gurugram: Lifts defunct in Sare Homes, upkeep company booked

GURUGRAM: Police booked the maintenance company of a residential society for non-functional lifts that are posing a safety risk to the residents. The residents have alleged that despite paying annual maintenance charges (AMC) they have not been provided with any upkeep facility and lifts have not been working for a long time. Around 300 families […]

Delhi government notifies 20% reduced circle rates for land & immovable properties

NEW DELHI: The Delhi government has notified the 20 per cent reduced circle rates for land and immovable properties to boost transactions in real estate. Recently, Mumbai had cut stamp duty rates which led to a massive increase in people buying and selling properties. The Lt. Governor of the National Capital Territory of Delhi notified […]

Gurugram: Lifts defunct in Sare Homes, upkeep company booked

GURUGRAM: Police booked the maintenance company of a residential society for non-functional lifts that are posing a safety risk to the residents. The residents have alleged that despite paying annual maintenance charges (AMC) they have not been provided with any upkeep facility and lifts have not been working for a long time. Around 300 families […]

SoftBank reaches settlement with former WeWork CEO Adam Neumann

BENGALURU: SoftBank Group Corp said on Friday it has reached a settlement with WeWork’s special committee and the company’s co-founder and former chief executive, Adam Neumann, putting to rest a legal battle dating back to 2019. SoftBank, the new owner of the office-sharing firm, did not disclose terms of the settlement. Media reports earlier this […]

Builders to pay for demolition of illegal colonies in Gurugram

GURUGRAM: In a first, the department of town and country planning (DTCP) has decided to recover the cost of demolition of illegal colonies from the land owners and builders. The move, officials said, will not only check the mushrooming of illegal colonies in Gurugram but also help reduce the financial burden on the department. In […]

Institutional investments in Indian real estate to increase by 14.6% in 2021: Report

NEW DELHI: Institutional investments in Indian real estate will grow by 14.6% to Rs 396 billion from Rs 346 billion in 2020, according to a recent report by Colliers International India. Institutional investments in 2020 had witnessed a drop of 23% from 2019. “The investment climate in India is very buoyant with global investors’ interest […]

DLF plans to raise up to Rs 395 crore via issue of debentures

NEW DELHI: Realty firm DLF plans to raise up to Rs 395 crore through issue of debentures. In a regulatory filing, the company informed that the proposal will be discussed on March 3 at a meeting of the finance committee of the board of directors. DLF did not disclose where the proceeds from the bond […]

Rapid urbanisation leave residents gasping for breathe along Dwarka-expressway

GURUGRAM: With increase in construction activities and roads not being cleaned, residents of Sector 108 and 109 along the Dwarka-expressway said that the area has turned into a dust bowl. Residents blamed the lack of enforcement of environmental norms while carrying out construction activities behind the increase in dust pollution. They added that this is […]

Office space absorption to grow 12-18% next fiscal: CRISIL

NEW DELHI: Net leasing of commercial office space across the country will grow 12-18% to 25-30 million sq ft on-year next fiscal, riding on a low base of the current fiscal, gradual return of tenants to offices, and improvement in the macroeconomic situation, a CRISIL analysis has showed. Despite this, net leasing next fiscal will […]

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