SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

Location : Gurugram

MCG cracks down on private agency for mishandling property tax documents

15 Sep 2023

The Municipal Corporation of the City of Gurgaon (MCG) Taxation Wing has issued a stern warning to a private agency responsible for distributing property tax documents. A complaint alleged that the agency left tax bills on the road instead of delivering them directly to the recipients. The agency had been contracted by the MCG to distribute these documents, but it failed to follow proper procedures, including obtaining acknowledgment from recipients. This oversight has hindered the maintenance of accurate property tax records, impacting property owners and the efficient functioning of the MCG's taxation processes. The MCG is taking corrective measures to rectify these issues.Read more

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Brisk Lumbini project faces transparency issues amid structural repair work

13 Sep 2023

The Brisk Lumbini project in Sector 109 of Gurugram is facing discord between the Resident Welfare Association (RWA) and the developer following a structural audit. The RWA is demanding greater transparency and involvement in the repair process due to concerns about the quality of work, while the developer remains unresponsive. District authorities have intervened, and the dispute centres on communication, repair standards, and conflicting interests between the RWA and the developer.Read more

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With 30% property tax revenue sourced, Gurugram aims for Rs 500 crore

13 Sep 2023

The Municipal Corporation of Gurgaon (MCG) has made significant strides in revenue generation, amassing Rs 150 crore in property tax since April 1 this year, achieving 30% of its annual target. The MCG has set an ambitious goal to reach Rs 500 crore in property tax revenue for the fiscal year 2023–24. In a recent review meeting, Commissioner PC Meena emphasized the need to accelerate property tax income and address complaints efficiently. The MCG also faces challenges with streetlight issues and road repairs. Meena sternly warned officials against unresolved complaints, pledging stringent action if necessary.Read more

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Gurugram's large construction sites fall short on anti-smog gun installation

12 Sep 2023

According to data from the Haryana State Pollution Control Board, only 34% of the necessary anti-smog guns have been placed at large building sites in Gurugram, with 66% still pending. These tools aid in reducing air pollution, particularly in the winter. For building sites between 5,000 and 10,000 square meters, the standards call for at least one anti-smog gun, with bigger sites needing several. Gurugram now has a decent air quality, but experts predict that it will get worse. If anti-smog guns are not installed after a week's notice, environmental officials intend to fine violators. These tools are crucial for combating the pollution in the area.Read more

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SS Group unveils luxurious SS Cendana Residences in Gurgaon's Sector 83

11 Sep 2023

SS Group has unveiled its luxury project, SS Cendana Residences, in Sector 83 of Gurgaon. The opulent complex spans 8 acres and includes 10 high-rise towers designed by renowned architect ARCOP. It offers a wide range of amenities, catering to various interests and age groups. The project aims to provide a self-contained luxury living experience and reflects SS Group's commitment to delivering upscale homes in prime locations. With its thoughtfully planned design and amenities, SS Cendana Residences is set to redefine modern luxury living in Gurgaon, making it an attractive option for premium homebuyers in the area.Read more

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Low compliance with air pollution regulations at Gurugram construction sites

09 Sep 2023

Despite the impending winter air quality crisis in Delhi-NCR, only 220 out of 3,000 construction sites in Gurugram have registered on the dust portal. Launched by the Haryana government in response to air quality concerns, the portal monitors pollution levels at construction sites and enforces compliance with emission reduction rules. Haryana State Pollution Control Board officials have vowed to take strict action against non-compliant sites. However, construction agencies cite the high costs involved in compliance, particularly for smaller projects. This highlights the need for a more concerted effort to combat air pollution in the region.Read more

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NCLT orders insolvency proceedings for Imperia Structures, appoints IRP

08 Sep 2023

Following a collective request from 28 unit holders invested in the Gurugram-based 'Imperia Mindscape' project, the National Company Law Tribunal (NCLT) has ruled in favour of initiating insolvency proceedings against Imperia Structures. The tribunal's decision is grounded in a thorough review of financial records, revealing an outstanding debt of Rs 36.79 crore due to Imperia Structures' inability to fulfil promised assured returns. This development highlights the growing concerns surrounding the realty firm's financial obligations and underscores the urgency of addressing these issues through the insolvency process.Read more

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Whiteland Corporation collaborates with Shapoorji Pallonji for a residential project in Gurugram

07 Sep 2023

Whiteland Corporation, a Gurugram-based real estate developer, has announced a strategic collaboration with Shapoorji Pallonji E&C for their residential projects, The Aspen & Aspen Iconic. Located in Gurugram's sector 76, these projects encompass 3.3 million square feet of construction area and feature 11 towers ranging from 30 to 43 stories. Shapoorji Pallonji E&C, known for its construction expertise, will contribute to the projects' execution. Whiteland aims to set new standards in the real estate industry through this partnership, which has been carefully crafted to ensure the successful delivery of these prestigious developments.Read more

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Problems continue to plague Vatika India Next project as DTCP summons the developer

05 Sep 2023

The Department of Town and Country Planning (DTCP) has issued a notice to Vatika Group regarding issues raised by allottees of the Vatika India Next residential project in Gurugram's Sector 82. Allottees, represented by the Senior Citizen Federation of New Gurgaon (SCFNG), have complained about a lack of zoning plans for plots allocated more than five years ago, hindering construction. They also report delays in obtaining conveyance deeds and occupation certificates for floors constructed a decade ago. Allegations include illegal booths, excessive fees, and demands for mutations. The DTCP has directed Vatika Group's MD to respond within seven days or face potential action.Read more

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DLF unveils grand plans of launching two luxury housing projects in Gurugram worth Rs 15,000 crore

31 Aug 2023

Realty giant DLF Ltd plans to introduce two luxury housing ventures worth Rs 15,000 crore in Gurugram during this fiscal year, capitalizing on robust demand for upscale residences. Following the successful Rs 8,000 crore sales within days of 'The Arbour' project launch, DLF aims for Rs 13,000 crore bookings this year. Their 2022-23 sales surged to Rs 15,058 crore, driven by ambitious launches totalling Rs 20,000 crore. The upcoming projects in Gurugram, on Southern Peripheral Road and Golf Course Road, are expected to yield approximately Rs 15,000 crore in sales. Additional residential towers are slated for Moti Nagar, Chandigarh, and Mumbai.Read more

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Gurugram's DTCP takes action, shuts 14 commercial outlets in residential zones

29 Aug 2023

In a consecutive second day crackdown, DTCP's enforcement unit targeted illicit commercial setups within private residential colonies. A total of 14 establishments were sealed in DLF Phase 2, and over 150 businesses in DLF Phase II received warnings and restoration directives from DIP Enforcement. Led by DTPE Manish Yadav, the enforcement team sealed 14 operations spanning seven houses along Jacaranda Marg and Bougainvillea Marg. With 100 businesses already sealed in various licensed colonies, the enforcement drive remains ongoing, urging voluntary cessation to avoid immediate sealing actions.Read more

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MCG's innovative approach offers door-to-door property tax assessment for 6.4 lakh owners

28 Aug 2023

The Municipal Corporation of Gurugram (MCG) is modernizing property tax management by collaborating with a private agency to distribute tax assessment bills to 6.4 lakh property owners. This innovative approach enables residents to review and update property tax details without visiting MCG's office. A dedicated team delivers bills door-to-door, promoting engagement and accuracy. Property owners can communicate changes to agency representatives, ensuring up-to-date records. This effort covers both residential and commercial properties, integrating with digital platforms and offering a 15% tax rebate incentive. MCG's initiative emphasizes efficiency, transparency, and resident involvement for improved property tax administration.Read more

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Municipal Corporation of Manesar achieves Rs 18 crore property tax collection milestone

25 Aug 2023

The Municipal Corporation of Manesar (MCM) has successfully amassed Rs 18 crore in property tax since April 1. A significant development is the issuance of 30,000 notices to defaulting property owners across Manesar, urging prompt settlement of their dues. A notable shift has been the MCM's decision to outsource bill distribution to a private firm, resulting in its highest tax collection to date. This approach has primarily targeted property owners seeking no-dues certificates. The accrued funds are designated for driving development projects within emerging sectors. Additionally, notices have been issued to 100 defaulters owing Rs 10 crore. Efforts are underway to ensure billing accuracy and facilitate corrections.Read more

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Gurugram RWAs express concerns over health facilities in housing colonies

24 Aug 2023

Gurugram's Resident Welfare Associations (RWAs) are opposing the establishment of healthcare facilities within residential colonies, citing potential negative consequences. Concerns include increased traffic congestion, insufficient parking, and strains on utilities like water and electricity. RWAs recognize healthcare accessibility's importance but propose evaluating alternative locations with better infrastructure. Balancing convenience with the potential burdens on existing resources becomes crucial in addressing the residents' quality of life and maintaining the area's overall functionalityRead more

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DHBVN revamps electricity load norms for residential and commercial consumers

17 Aug 2023

Dakshin Haryana Bijli Vitran Nigam (DHBVN) has updated electricity load norms for residential and commercial areas to ensure fair and accurate charges. The norms vary based on city classifications and property types. Consumers will be billed based on their prescribed load, benefiting those with lower consumption. These changes aim to align with actual consumption patterns, encourage responsible energy usage, and enhance billing transparency. The revisions cater to different property sizes and classifications, creating a more equitable system while maintaining the quality of electricity supply.Read more

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FIR filed against Puri Construction for alleged fraudulent practices in Gurugram project

17 Aug 2023

An FIR has been filed against Puri Construction by eight homebuyers alleging fraudulent practices in the sale of luxurious flats in Gurugram's 'Emerald Bay' complex. The complainants claim the builder misrepresented amenities, altered plans, and faced issues with basic amenities, while Puri Construction denies the allegations. The dispute highlights concerns about transparency and adherence to promises in the real estate sector.Read more

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Experion Developers acquires a 5.5 acre land parcel by HSVP for 500cr

14 Aug 2023

Experion Developers, backed by Singapore's Experion Holdings, continues to make strides in the Indian real estate market. With successful land acquisitions in prominent areas like Gurgaon's Golf Course Road and Noida's sector, the company recently secured a 5.5-acre land parcel in Gurgaon's sector 48 through an HSVP auction. Valued at Rs. 550 crore, the land will be used for a luxury residential project. Experion Developers has a strong presence in various Indian states, offering residential and commercial properties. Their investments in projects, like the Golf Course Road and Noida ventures, signify their commitment to the industry's growth in India.Read more

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Retail Giant Deerika Hypermarket joins forces with Elan Miracle in Gurugram

14 Aug 2023

Deerika Hypermarket, a well-known retailer, has leased a prime retail space of 20,176 square feet in Gurugram's Elan Miracle. This commercial real estate project by Elan Group is set to be operational soon, offering a diverse shopping experience with renowned brands like Pantaloons, Zudio, and the largest Deerika outlet in the area. Deerika Hypermarket, known for its comprehensive range of household items, aims to provide convenience and quality to a wide range of customers. With their expansion plans and Elan Group's commitment to exceptional experiences, the collaboration promises a dynamic shopping destination.Read more

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Godrej Properties to shell out Rs. 155 Cr in quality-related repairs for Gurugram project

10 Aug 2023

Godrej Properties, a subsidiary of Godrej Industries Ltd., has allocated approximately Rs155 crores for repairs, maintenance, and ancillary costs following quality-related concerns raised by residents of their Gurugram project, Godrej Summit. Issues emerged when a separating slab revealed inadequate flooring in certain flats, raising structural integrity doubts. Subsequent complaints included cracks in balconies and walls, reflecting a larger safety concern post a similar incident at Chintels Paradiso. The Department of Town and Country Planning issued a show-cause notice, prompting a detailed assessment revealing high chloride content causing steel corrosion. GPDL plans to buy back concerned homeowners' units, ensuring repairs and audits before resale.Read more

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MRG Group initiates strategic move to address affordable housing demand in Gurgaon

10 Aug 2023

MRG Group, a real estate developer based in the National Capital Region (NCR), has announced plans to launch a new affordable housing project in Sector 90, Gurgaon. The project will feature 2/3 BHK units spread over 5.26 acres, catering to homebuyers and investors seeking affordable and modern living options. The project's strategic location, emphasis on quality and sustainable construction practices, and a range of amenities are expected to make a significant contribution to the affordable housing sector in the region.Read more

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