The Birla Estates, a subsidiary of Century Textiles and Industries, has acquired a five-acre land parcel in Sector 71, Gurugram, aiming to develop a luxury residential project with a development potential of 10 lakh sq ft and an expected revenue of over INR 1,400 crore. The prime location on the Southern Peripheral Road offers excellent connectivity to Delhi and Gurugram. MD and CEO K. T. Jithendran emphasized the strategic importance of this market and the company's commitment to delivering exclusive living experiences. This acquisition expands Birla Estates' footprint in NCR, complementing its ongoing projects in Gurugram and New Delhi.Read more

The Enforcement Directorate (ED) has seized a plot valued at INR 300 crore from M3M Real Estate in Gurugram as part of a money laundering investigation linked to politician Bhupinder Singh Hooda. The 88.29-acre land in Basharia village is implicated in alleged fraud involving undervalued land acquisitions and manipulative practices. The probe reveals that Hooda and associates, including RS Infrastructure Pvt. Ltd., used deceitful methods to acquire land below market value, resulting in financial gain and losses for landowners. M3M disputes the claims, arguing that the seizure overlooks their legitimate business practices and economic contributions.Read more

Manesar, near Gurugram, is set for growth with Worldwide Realty's launch of 178 new industrial plots in "The Golden City," covering 112.5 acres. This project offers businesses well-connected spaces near major expressways and highways, including the upcoming Gurugram-Pataudi-Rewari Highway, enhancing access and reducing costs. Catering to enterprises of all sizes, The Golden City provides modern infrastructure and amenities. Vikas Aggarwal, COO of Worldwide Realty, emphasised the area's improved connectivity and strategic appeal. This development aims to attract diverse ventures, boosting Manesar's industrial landscape and contributing to the region's economic growth.Read more

Godrej Properties has acquired Transfer of Development Rights (TDR) certificates worth INR 50 crore for their upcoming project in Sector 43, Gurgaon. This innovative move, commonly used in Mumbai, allows Godrej to add 300,000 sq ft of built-up space, significantly increasing the project's revenue potential to INR 900 crore. TDR certificates, issued as compensation to landowners for public development, provide additional building rights that can be sold to developers. This acquisition highlights Godrej Properties' commitment to the Gurgaon market, which saw a 473% sales increase in FY24, and sets a precedent for future developments in the area.Read more

At GMDA's board meeting, the board is scheduled to discuss projects including flyovers, Southern Peripheral Road (SPR) redevelopment, water treatment capacity expansion, electric buses, and 10,000 CCTV cameras. The board will present an INR 2,887 crore budget for FY 2024-25 and seek approval for INR 3,500 crore in projects from Chief Minister Nayab Singh Saini. Key proposals include the INR 634 crore redevelopment of Tau Devi Lal Stadium and the signal-free elevated corridor for SPR. GMDA also plans to procure 200 electric buses under the PM e-Sewa scheme and invest INR 1,400 crore to upgrade the city's water supply and drainage infrastructure.Read more

The transfer of Mayfield Gardens to the Municipal Corporation of Gurugram (MCG) has stalled due to a dispute over a 327-acre land area. While MCG, following the Department of Town and Country Planning (DTCP) directives, seeks the entire 327 acres, the developer, Mayfield Projects, is only willing to hand over 291 acres, citing that the remaining 36 acres are undeveloped and lack essential infrastructure. The developer challenges MCG's INR 5.6 crore charge for infrastructure repairs. This impasse leaves residents facing poor road conditions and awaiting improved maintenance. A DTCP decision or a phased handover agreement is expected soon.Read more

Experion Developers, the Indian subsidiary of Singapore's Experion Holdings Pte Ltd, has been aggressively expanding its footprint in the premium residential market of Gurugram. The company has acquired a 7.81-acre plot at Dwarka Expressway for INR 400 crore, with plans to invest an additional INR 2,000 crore to build 3 million square feet of luxury homes. In the last one-and-a-half years, Experion has acquired five plots worth INR 2,100 crore, primarily in Gurugram, where it is launching new projects. The company's latest acquisition in Sector 88A is expected to generate a revenue of INR 3,700 crore. Experion's strategy of strategic land acquisitions and luxury project development aims to capitalize on the flourishing demand for premium residential properties in the region.Read more

Alphacorp announces Alphacorp SKYI, a luxury residential project in Gurugram's Sector 15, Part 2, featuring 200 exclusive units ranging from 2,400 to 3,600 sq. ft. The project emphasizes eco-friendly living with GRIHA Certified 4 Star and IGBC Gold 4 Star ratings, including rainwater harvesting and energy-efficient amenities. Strategically located for easy access and benefiting from Gurugram's expanding Metro network, Alphacorp SKYI promises luxury, sustainability, and convenience. Construction begins September 2024, with an estimated INR 350 crore investment, affirming Alphacorp's commitment to excellence in Gurugram's real estate market.Read more

The Department of Town and Country Planning (DTCP) in Gurugram issued notices to 38 builders, mandating surveys and addressing maintenance issues within seven days after plaster fell from balconies in Paras Dews and Signature Global Solera societies, causing panic. Residents demanded immediate action, highlighting persistent safety concerns. District town planner Manish Yadav's notice emphasised resolving critical maintenance issues and submitting action reports. Developers, including CHD and NBCC, Paras Buildtech, and others, were named. Incidents at the Paras Dews and the Solera led to injuries and highlighted the urgency. Developers acknowledged the issues, attributing them to rain and promised timely repairs.Read more

In Gurugram, Emaar India faces allegations of selling a 1.2-acre plot in Heritage One society, Sector 62, designated as a green belt, to Polestar Private Ltd. for INR 8.1 crore under the guise of a school site. Polestar claims Emaar provided misleading documents, resulting in an FIR against Emaar for cheating and criminal conspiracy. The Gurugram police are investigating, while Emaar denies wrongdoing. This case underscores the necessity for rigorous due diligence and verification of land use approvals to safeguard real estate investments.Read more

Whiteland Corporation, a leading real estate developer in Delhi's NCR, has joined forces with Marriott International Inc. to bring the prestigious Westin Residences to Sector 103 in Gurugram. This partnership combines Whiteland's expertise in delivering high-quality, sustainable projects with Marriott's renowned brand and commitment to wellness. The Westin Residences project, estimated at a staggering investment of INR 5,600 crore, will offer a range of three- and four-bedroom residences spanning 235 to 386 square meters, catering to the discerning preferences of modern homebuyers. The project's design and amenities have been meticulously crafted by renowned industry experts, ensuring a harmonious blend of architectural excellence, lush landscaping, and sophisticated interiors.Read more

Oberoi Realty, known for its luxury projects in Mumbai, ventures into Delhi NCR with a prime 14.81-acre land acquisition in Gurugram for INR 597 crore (USD 74.6 million). This marks their largest deal outside Mumbai, signaling confidence in the national market. Located in Sector 58, Gurugram, the site offers development potential of 2.6 million square feet, valued at over INR 2,300 per square foot. Amidst Gurugram's thriving real estate scene, Oberoi's entry promises expanded luxury options, catering to upscale buyers seeking prestigious addresses and premium living experiences. This move could catalyze competition and innovation in Delhi NCR's high-end property market.Read more

Whiteland Corporation has partnered with Marriott International to develop "Westin Residences Gurugram," the first standalone Westin Residences in India. Situated on a 20-acre site along Dwarka Expressway in Sector 103, Gurugram, the project will offer approximately 674 luxury units in its first phase, launching in Q2 of the current financial year. The total investment for the project exceeds INR 5,000 crore, with an estimated sales value of over INR 15,000 crore. Homes will range from 235 to 386 sqm, with prices starting around INR 5 crore. This landmark project, managed by Marriott, aims to redefine luxury living in Gurugram.Read more

Ganga Realty will invest INR 1,200 crore in the Anantam residential project in Sector 85, Gurugram. The project spans 5.29 acres and will feature three G+59 storey towers with 524 units of 3 and 4 BHK apartments, priced from INR 16,500 per sq ft. Funded through internal accruals and customer advances, the project aims for a INR 2,000 crore sales target. Located near the Dwarka Expressway and IGI Airport, Anantam will include luxury amenities, smart home features, and sustainable technologies. Completion is expected in five years, offering "tallest luxury towers" in Gurugram and in Delhi.Read more

Bollywood icon Ajay Devgn has inaugurated NY Cinemas in Delhi NCR, marking a pivotal expansion for his multiplex chain. Located at Elan Epic Mall in Gurugram's Sector 70, the luxurious 5-screen multiplex has 890 seats spread across 46,000 square feet. It features a pre-lobby area, main lobby, and an upscale AMOR lounge, ensuring a comfortable moviegoing experience. Devgn's vision for NY Cinemas aims to democratize access to high-quality theatrical experiences, with plans to establish 250 screens primarily in North and West India. This strategic move aligns with the booming Indian multiplex industry, poised for substantial growth in the coming years.Read more

A city court dismissed a real estate firm's petition to stop residents of Park Serene condominium from displaying banners criticising construction quality and infrastructure. BPTP, the developer, had filed a defamation suit, alleging harm to its reputation. Residents argued the banners served public interest by highlighting community issues. Judge Kimmi Singla's ruling on May 31 emphasised free speech rights, citing a Supreme Court precedent that injunctions in defamation cases should be rare. She noted the banners focused on facilities provided by BPTP, leaving defamation determination for trial. Residents welcomed the decision, citing ongoing concerns over construction quality and management practices, while the developer expressed intent to pursue legal recourse.Read more

Central Park, the real estate development subsidiary of Indian conglomerate Bakshi Group, is planning to list its realty business on the stock exchanges within the next 2-3 years. The company aims to launch projects worth INR 10,000 crore in FY25 and expects sales to reach the same figure in time for its IPO. Central Park currently has a vast land bank spread across Gurugram and is in the process of appointing an auditor to transition to a publicly listed structure. To fuel future growth, the developer will launch multiple residential and commercial projects in the upcoming years across Sohna, Dwarka Expressway, and other key markets.Read more

Signature Global (India) Limited (SGIL) is strengthening its presence in Gurugram with two significant land acquisitions through its subsidiaries, Sternal Buildcon and Signatureglobal Homes. In Sector 37D, a plot of approximately 3.80625 acres will accommodate around 6 lakh square feet of residential space, capitalizing on the area's growth potential. Additionally, a larger 14.65-acre plot in Gadauli Kalan offers potential for about 2.7 million square feet of development. These acquisitions highlight SGIL's proactive strategy to meet rising housing demands, focusing on affordable and mid-range segments in Gurugram's competitive real estate market.Read more

Birla Estates, the real estate arm of Aditya Birla Group's Century Textiles and Industries, has announced a new luxury housing project in partnership with Barmalt India Pvt Ltd. This project will transform a prime 13.27-acre land parcel in Gurugram's Sector 31 into a high-end residential development with a potential of approximately 2.4 million square feet, generating an estimated revenue of INR 5,000 crore. Strategically located near key business districts and major hubs, the development promises exceptional connectivity and a luxurious lifestyle experience. This ambitious project reflects Birla Estates' expanding footprint in the luxury real estate market.Read more

A Gurgaon court dismissed real estate developer MGF's plea against a compromise agreement between M3M and a land-owning company. The May 27 order ruled that MGF lacked standing as it was never the land's owner or possessor. MGF's 2022 lawsuit sought to challenge a 2016 compromise deed and Lok Adalat award, claiming dishonoured cheques invalidated the agreement. However, the court highlighted MGF's delayed filing beyond the statute of limitations. The court reaffirmed the validity of the original compromise decree and exchange deeds, upheld by multiple courts, emphasising the importance of timely legal actions and proper standing in civil litigation.Read more