Gurugram's real estate market has seen a remarkable 76% rise in property prices over the last two years, with a 15.5% quarter-on-quarter increase between July and September 2024, according to Magicbricks' PropIndex Report. This price surge is largely attributed to the completion of key infrastructure projects like the Dwarka Expressway, enhancing the city's connectivity and appeal. Despite moderate demand growth, supply has increased due to new project launches. Emerging sectors, such as Dwarka Expressway, New Gurgaon, and Golf Course Extension, are attracting buyers with relatively affordable rates.Read more

Max Estates Limited has launched its first residential project, Estate 360, in Gurugram. In just 30 days, the project reached an impressive pre-sales booking value of INR 4,100 Crore. This exceeded the FY 25 target of INR 4,100 Crore. Estate 360 is the first intergenerational residential community in Delhi NCR, designed to cater to different generations. It offers over 60 amenities and focuses on sustainability, providing a unique living experience for its residents. Estate 360 features facilities designed for all age groups, including senior living spaces managed by Antara Senior Living.Read more

Bhumika Group, a renowned real estate developer and the largest mall developer in Rajasthan, has entered the Gurgaon market with a new commercial project on MG Road. Acquiring a 1-acre land parcel, the Group aims to generate approximately INR 300 crore in revenue. This move aligns with their plan to expand their retail footprint in Delhi NCR, with 8.5 lakh sq. ft. of space expected by 2024. The project will feature premium retail, dining, and entertainment options, following the success of their Urban Square Mall in Udaipur.Read more

The Department of Town and Country Planning (DTCP) has ordered the disconnection of essential services for 11 illegally constructed buildings in Palam Vihar's C2 block. Originally, each 500-square-yard plot was approved for one housing unit per floor, but up to 16 unauthorized flats were built. The case is now in the Punjab and Haryana High Court, following protests and a petition from local residents. DTCP has requested immediate enforcement, involving water, sewer, and electricity cuts, and filed multiple complaints against property owners. The issue highlights serious concerns over building regulation violations and their impact on local infrastructure.Read more

AIPL Joy District (AJD), launched by Advanced India Projects Limited in Gurugram's Sector 88, is set to be a premier retail and entertainment destination. Strategically located at the intersection of major corridors, AJD will span 1.2 million square feet across four levels, featuring global lifestyle brands, diverse dining options, and entertainment zones. Post-pandemic residential growth in sectors 80-90 has fuelled demand for shopping and dining options, prompting AIPL's commitment to deliver 1.356 million square feet of premium retail space by Q4 2024. The project emphasises luxury, sustainability, and innovation, aiming to redefine the retail experience in Gurugram.Read more

Haryana's Department of Town and Country Planning (DTCP) has increased floor-area-ratio (FAR) rates for large plots by around 20%, the first hike since 2016. Plots between 250-350 sqm will now have an FAR rate of INR4,500/sqm (up 19%), while plots between 350-450 sqm will pay INR6,500/sqm (up 21%). For plots larger than 500sqm, the rate jumps 24% to INR10,000/sqm. The hike aims to address rising land demand in cities like Gurgaon, with revenues supporting municipal development. Developers warn the increase could raise construction costs, potentially slowing large projects and pushing prices onto homebuyers.Read more

TREVOC Group has launched TREVOC Royal Residences in Sector-56, Gurugram. This high-end residential project is expected to generate INR 1000 Crore in revenue and features 172 luxury apartments spread across 27 floors. It offers cutting-edge design, a top-tier clubhouse, and a Skydeck with sweeping views. Emphasizing TREVOC's 75-year legacy, the project integrates innovation, functionality, and sustainability. The company is also set to deliver over 5 million square feet of residential space and 1 million square feet of commercial space, alongside plans to develop 75-100 acres of land for future projects.Read more

Signature Global has partnered with Ahluwalia Contracts for an INR 1,144 crore contract to develop its first luxury residential project, "De-luxe DXP," in Gurugram's Sector 37D. The project aims to redefine luxury living with sustainable design, exceptional amenities, and top-tier construction. Spanning 16.65 acres, it will feature 1,008 units across eight towers, including apartments and penthouses. The project has received positive responses, particularly from NRIs and professionals, recording INR 3,600 crores in presale bookings. With IGBC Gold Rating and features like swimming pools, clubhouses, and retail spaces, De-luxe DXP promises modern living with excellent connectivity and sustainability.Read more

The County Group, based in Delhi-NCR, has acquired development rights for a 7.9-acre land parcel in Gurugram's village Harsaru, Sector 88A, near the Dwarka Expressway, for INR 105 crore from Brock Developers Private Limited and Ashiana Landcraft Realty Private Limited. Perfect Megastructure Private Limited, a subsidiary of the County Group, will oversee the development. The County Group plans to develop a luxury housing project on this site. Additionally, they recently announced a INR 5,000 crore investment in the 'Ivory County' project in Noida, projected to generate around INR 7,500 crore in revenue.Read more

Landmark Group, a prominent real estate developer based in Gurugram, is gearing up to expand its business portfolio with a robust project pipeline. The company plans to invest INR 4,200 crore over the next two years to launch a mix of luxury, retail, and commercial projects in the thriving micro-markets of Gurugram. Landmark Group's upcoming projects include a group housing development along the Dwarka Expressway and a premium high street project in New Gurgaon, both slated for launch by the end of 2024. The company's diverse real estate portfolio includes townships, villa complexes, group housing, and mixed-use retail spaces, as well as co-working spaces.Read more

Godrej Properties Limited (GPL) has emerged as the top bidder in a recent e-auction by Haryana Shehri Vikas Pradhikaran (HSVP), securing two prime plots in Gurugram for INR 515 crore. The 3.6-acre plot on Golf Course Road and the 1.97-acre plot in Sector 39 offer opportunities to develop over 1 million square feet of residential space, potentially generating revenues exceeding INR 3,400 crore. This acquisition aligns with GPL's strategy to expand its footprint in key markets. The projects, set to launch in fiscal year 2025, reflect growing demand and infrastructure improvements in Gurugram.Read more

Unitech has resumed the construction of its long-stalled South Park project in Gurugram's Sector 70, which was halted in 2013. Originally intended to deliver 832 flats across 27.4 acres, only 672 units were sold before work stopped. The new management, appointed after a Supreme Court order, secured necessary clearances and plans to complete the project within three years. An additional 4.31 acres have been acquired to expand the project. Safety assessments are being conducted, and a quarterly payment plan for buyers has been introduced. However, buyers face challenges in securing loans, with some planning to seek court intervention.Read more

H-RERA met with the homebuyers concerned with the delays in the OSB Expressway Towers project in Sector 109, Gurgaon, and has issued a final warning to the builder. The project, which has been delayed for more than seven years, must be completed within the next six months. If the builder fails to meet this deadline, H-RERA may transfer control of the project to a buyers' association or bring in a third-party builder to finish the work. This decision is intended to protect the rights and interests of the homebuyers who have been waiting for their homes for an extended period.Read more

Ciena, a U.S.-based networking systems and software company, has leased 135,000 square feet of office space in the TRIL Tower, Gurugram, as part of its expansion into India. This move reflects a broader trend in the National Capital Region (NCR), where the denotification of Special Economic Zones (SEZs) is reshaping the commercial real estate market. While office space leasing in the NCR has seen a 16% decline year-over-year, demand for well-located offices remains strong. Ciena's new space underscores the growing importance of India in the tech sector and the shift towards flexible, technology-equipped office environments.Read more

The Punjab and Haryana High Court has postponed the next hearing on the stilt-plus-four (S+4) floors policy to September 3. The policy, which allows four-floor buildings on residential plots, was paused after concerns about its impact on Gurgaon's infrastructure. The Gurgaon Citizens Council (GCC) challenged the policy, leading to a court-ordered suspension until further review. Builders sought to join the case, but GCC opposed their involvement. They emphasised the need for an environmental impact assessment, citing strained city services like water and sewage. They argue that reimplementing the policy without infrastructure upgrades would further damage the city's urban fabric.Read more

Residents of South City 1 are voicing their frustration over the neglect of basic civic amenities, five years after the area was handed over to the Municipal Corporation of Gurgaon (MCG). Persistent issues, such as pothole-ridden roads, inadequate water supply, and poor drainage, have significantly affected their daily lives. A recent protest saw residents holding signs and demanding immediate action from MCG, highlighting the disrepair of roads, sanitation concerns, and frequent flooding during monsoons. Despite meeting with MCG officials and receiving assurances that these issues would be addressed, residents remain cautious but hopeful that their demands will lead to concrete improvements in their living conditions.Read more

Investors can now capitalise on prime commercial real estate with the launch of society shops at India Rashtra, Sector 88A, and Vanya City, Sector 99A, Gurgaon. These projects, authorised under the New Integrated Licensing Policy 2022 and Deen Dayal Jan Awas Yojana, offer lockable shops in highly desirable locations along Dwarka Expressway. India Rashtra offers shops from 312.328 to 384.537 sq. ft., while Vanya City features spaces from 399.95 to 1381.36 sq. ft. Registration for both projects is open until 5th September 2024, with the draw of lots on 7th September 2024. Investment starts from INR 32.46 lacs for India Rashtra and INR 46 lacs for Vanya City.Read more

Welspun One, an integrated fund and development management platform, has acquired a 22-acre site along the Gurugram-NH8 corridor, one of India's largest logistics sub-markets. The company plans to invest INR 125 crore to develop a logistics park that is expected to generate employment for 1,200-1,500 people. The transaction was facilitated by JLL, which described the land deal as unique, involving a long-term lease of aggregated land from multiple private landlords. The site's strategic location near existing major logistics parks, complementing the surrounding infrastructure, makes it an attractive proposition for tenants, including leading third-party logistics players, e-commerce giants, and retail players.Read more

Deutsche Telekom Digital Labs (DTDL) has leased 51,000 square feet of office space at WeWork in Gurugram, marking its second office in the area. The new facility, featuring 700 work units, is located in DLF Cybercity and aligns with DTDL's growth strategy and post-pandemic workspace trends. WeWork, which manages 1.08 million square feet in Delhi-NCR, is experiencing high demand for flexible workspaces. This deal underscores the broader shift towards adaptable office environments, with WeWork also expanding in Noida, Pune, and Chennai. As companies adapt to hybrid work models, the demand for flexible office solutions continues to rise.Read more

Emperium's new luxury project, Emperium Premio, is set to transform Gurugram's real estate landscape. Located in Sector 37C along the Dwarka Expressway, Premio offers 216 apartments in 2, 3, and 4 BHK configurations, plus penthouses, ranging from 1308 to 3600 square feet. Each unit features premium fittings, modular kitchens, and a focus on sustainability with rainwater harvesting and energy-efficient systems. The project includes upscale amenities like a double-height lobby, rooftop pool, and fitness centre. Ravi Saund and Hardeep Singh, Founding Directors of Emperium, promise a blend of luxury, convenience, and eco-friendly living.Read more