News & Media

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MAY

Rs 50,000 reward for best 'house for all' tagline.

The Haryana government is looking for a catchphrase to label villages or towns that will achieve 'housing for all', and has invited residents to come up with an attractive tagline for the Pradhan Mantri Awas Yojana (PMAY). To encourage a large participation, the government has decided to give a cash award of Rs 50,000 for the best tagline.

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MAY

Huda to auction 58 commercial sites next month.

After receiving a good response over its e-auction of properties, the Haryana Urban Development Authority (Huda) is all set to auction 58 commercial sites on June 5 and 6 and raise around Rs 150 crore.The commercial properties in sectors 5, 9A, 10, Old Judicial Complex and Jail Land will be up for grab during the e-auction.

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MAY

Delhi-NCR average city-level office rentals rose 1% in Jan-Mar: Report.

Gross average rental of the Delhi-National Capital Region office market showed marginal appreciation in the quarter ended March. The third largest office market in India, in terms of stock, recorded almost a 1% appreciation in average rents at Rs 78 per sq ft per month, showed a JLL India report.

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MAY

Land pooling: Delhi govt to declare 95 villages as development areas within a week.

A day after lieutenant governor Anil Baijal declared 89 Delhi villages as urban areas, the AAP government announced its intent on May 18 to declare 95 villages as development areas within a week to allow the implementation of the land pooling policy and thus free hitherto unpermitted land to create affordable housing in the capital.

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MAY

Why smooth ride to IGI is 90% short of reality?

The RTR flyover project is nowhere near completion even though construction work was sanctioned in November 2014. Permissions from different agencies haven't come, resulting in only 11% of the work being complete so far. The Rs 364-crore project aims at providing smooth access to the airport and NH-8.

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APR

Noida-Greater Noida Metro link to cost less than estimate.

More than a month after Dr Mangu Singh, Managing Director of Delhi Metro Rail Corporation (DMRC) said that the 29.7 km under-construction Noida-Greater Noida Metro link will be the fastest and most economical corridor constructed in India, TOI has accessed documents, which uphold that more than Rs 1,200 crore will be saved by the Noida Metro Rail Corporation(NMRC) in the project.

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APR

Delayed by nearly a decade, NRI buyers fret over Signature 2 villas in Gurgaon.

Yet another premium residential project, yet another broken promise. This time, it involves NRIs, who, lured by the real estate boom of the late 2000s, had booked premium villas in the Signature Two project in Sector 82 in 2008. Nearly a decade later, having most of the payment, they find construction of the villas is far from over.

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APR

VCs, PEs fear tax liability for their Directors under GST.

Indian venture capitalists and private equity firms that pumped $15 billion into companies in 2016 are wary that come July, when the goods and services tax (GST) rolls out, their representatives directors could be vulnerable to tax dues of investee companies even retrospectively.

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APR

YEIDA revives proposal for Greater Noida-Jewar airport Metro.

With the reins of the UP government in new hands, Yamuna Expressway Industrial Development Authority (YEIDA) has decided to revive the high-speed Metro link project between Greater Noida and the proposed international airport at Jewar. In a meeting held last week, officials of YEIDA discussed the issue with Delhi Metro Rail Corporation and the latter is likely to revert to YEIDA within a week on whether the project and cost would be feasible.

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APR

NCR board nixes Haryana's Aravalis construction plan.

Haryana's push to allow more construction in Aravalis has been thwarted by the NCR Planning Board (NCRPB) which has not favoured the state government's demand. It has said the logic forwarded by the state government is not sustainable since the restrictions have been in place since 2000.

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APR

Projects delayed, home buyers in Noida now look to CM Yogi.

With no commitment on deliveries of overdue apartments coming forth, home buyers of Noida and Greater Noida have organised a mass visit to Lucknow by end of April to attend the UP chief minister's janta ka durbar or public meeting forum. Apartments in Noida Extension, booked in 2009, 2010 are now overdue by three to five years.

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APR

Unitech MDs Sanjay & Ajay Chandra sent to 2-day police custody

The managing directors of real estate company Unitech Sanjay Chandra and Ajay Chandra were arrested late on March 31 by the economic offences wing of the Delhi Police in a case related to delay in delivery of a project in Gurugram. They were produced before the Patiala House Court April 1 afternoon, which sent the Unitech promoters to police custody till April 3.

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APR

Bulk of Noida's Rs 18k cr budget to go for infra.

The three development authorities of Noida, Greater Noida and Yamuna areas are all set to tabulate their annual budget next month. The three areas are likely to be allocated a combined amount of Rs 18,000 crore in the financial year 2017-18, sources said. While Noida is likely to spend Rs 7,000 crore, Greater Noida is also likely to spend Rs 7,000 crore while YEIDA will spend nearly Rs 4,000 crore in the new financial year.

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APR

Yamuna Expressway authority issues show cause notices warning of allotment cancellation to 9 builders.

Yamuna Expressway Industrial development Authority (YEIDA) has started issuing show-cause notices for cancellation of nine allotments in its area. The developers, which include 7 group housing builders and 2 institutional, owe the Authority more than Rs 830 crore.

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APR

Metro magic - Delhi Metro to reach Kundli by 2022

In a major infrastructural boost for the Delhi NCR, the government of Haryana recently approved the extension of the Delhi Metro network to Kundli.The Haryana Mass Rapid Transport Corporation (HMRTC), chaired by chief secretary D S Dhesi, approved the project for connecting Kundli with the Delhi Metro network at its board meeting recently.

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MAR

Start up - Co-working spaces catching up in NCR Start up.

The thriving start-up ecosystem, aided by Modi government's efforts to create an enabling environment for entrepreneurs across the country, has spiked demand for co-working spaces.

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MAR

Noida Authority seals 5-floor building; will soon demolish structure.

Noida Authority on Thursday has said that it will demolish an unauthorized building, which houses five floors, in sector 80 of the city. The Authority has issued a notice to the developer constructing building in the area adjoining Nangla Charandas village, located in phase-II of Noida.

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MAR

Noida holds meet as 30,000 homes not yet registered.

The Gautam Budh Nagar district administration held a meeting with officials of Noida and Greater Noida Authorities, officers of the stamps and registry department and builders on March 9 to get homebuyers to complete the registration process of their properties.

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MAR

Delhi govt to focus on existing housing & urban development’s projects.

Delhi government did not announce any new scheme under housing and urban development, but plans to focus on projects that are already in different stages of implementation. The sector has been allocated Rs 3,113 crore for its various schemes, up 21% compared to the revised estimate of 2016-17.

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MAR

Build infra, get EDC deduction: Huda to realtors.

Reeling under a financial crisis Huda will now going to join hands with private developers for infrastructure development in new sectors. According to the plan, private developers will build roads under supervision of Huda and the amount spent on construction will be adjusted by the government from pending external development charges (EDC) of the developer.

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MAR

KMP expressway to be finished by June.

The Haryana government's much awaited Kundli-Manesar-Palwal (KMP) Expressway project is likely to get completed by mid of June, after missing several deadlines in the past.

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MAR

NH-24 widening can go ahead: Delhi HC.

The Delhi high court has given the go ahead to National Highways Authority of India (NHAI) to award the work of widening Delhi-UP Border to Dasna stretch of National Highway 24. This is the most congested section of the highway that connects Delhi with Uttar Pradesh and traffic snarl is a regular feature. This portion will be expanded to 14 lanes.

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MAR

Delhi budget: Infrastructure allocation 20% less than last year’s.

In the past two years, the government's focus has shifted away from roads and bridges to schools and hospitals. This is clear from this year's allocation to Public Works Department, which is about 20% less than the amount earmarked in last year's budget.

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MAR

Skootr leases out 27,000 sq ft of co-working space to MattsenKumar

Co-working space company Skootr has leased out 27,000 sq ft of its space in Jaipur to MattsenKumar, a call centre outsourcing company. MattsenKumar has signed a long lease with Skootr and plans to expand the current 500-seats arrangement to 1000 seats within a year.

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MAR

Modi govt may soon pay rent for urban poor in 100 smart cities

Infrastructure status to and change in the definition of affordable housing are the biggest takeaways for the aam admi in Budget 2017.

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Rs 50,000 reward for best 'house for all' tagline.

Source: Magic Bricks

Huda to auction 58 commercial sites next month.

Source: Magic Bricks

Delhi-NCR average city-level office rentals rose 1% in Jan-Mar: Report.

Source: Magic Bricks

Land pooling: Delhi govt to declare 95 villages as development areas within a week.

Source: Magic Bricks

Why smooth ride to IGI is 90% short of reality.

Source: Magic Bricks