Latest Property News on 'Gurgaon'

Floor Rates for NCR Realty may Rise 30%

Get ready to shell out more stamp duty while buying real estate in the National Capital Region (NCR). The NCR board is likely to hike the minimum floor area rates (circle rates) for property transactions in and around the Capital by 20-30%. The new minimum rates are expected to make it easier for people to buy houses by entitling them to bigger home loans, besides generating more revenues for the government.

A circle rate is the floor price at which property transactions are registered, and quoting a lower price is not allowed. Therefore, higher circle rates mean more transparent transactions. Read More »

Uppal to Invest Rs 8,000 cr in 4 SEZs

Real estate firm Uppal Group is planning to invest over Rs 8,000 crore in the next five years to develop four special economic zones and two hotels in the north India. The Delhi-based company has already received the notification for two SEZs in Gurgaon, while it has got the formal approval for two SEZs planned in Uttar Pradesh.

“Infrastructure work has already started on the 263 acre multi-service SEZ in Gurgaon where we will develop 22 million sq ft in different phases,” said the Uppal CEO (SEZs and Hotels) Gian Bansal. Read More »

Corporate Head for Gurgaon to Setup Base

A few minutes of travel on the gleaming highway that connects Delhi to Jaipur will help you believe that all of corporate India is moving to Gurgaon, one of Delhi’s two main satellite cities.

On both sides of the eight-lane road (it appears to be four-laned due to the unchecked parking on both sides of it), 21 gigantic towers that span 8 million square feet have changed the skyline of this sleepy town beyond recognition. Read More »

Water Crisis in Gurgaon ends

The Water crisis in Gurgaon ended on Wednesday as the “normal water supply” was restored in all parts of the city.

About one third of the population which was fed by tube wells was getting normal water supply during the crisis also but on Wednesday the remaining two third populations also got tap water after four days, according to Gurgaon Deputy Commissioner Rakesh Gupta.

He said that the residents of Gurgaon should learn a lesson from this small water crisis and everyone “should learn that water is precious”. Read More »

Gurgaon to Accommodate 10,000 Luxury Flats in Next 2 Years

Gurgaon will see 10,000 new luxury flats over the next two years. This is regarding new residential projects which are scheduled to come up in the city soon.

Starting with Indian real estate giant DLF, it is all set to develop another residential project ‘Belaire’. According to Rs 7,500 a square foot, an apartment in the complex will cost around Rs 3 crore.

Close on heels is Emaar MGF which has planned to come up with its mega residential project ‘Palm Spring’ next to the DLF project.  It is priced at Rs 7,200 a square foot and Parsvnath has ‘Exotica’ under construction on this adjacent plot, priced at Rs 6,500 per square foot. Read More »

QVC to develop 100 acres of townships in Gurgaon

QVC Realty, India’s first venture funded Real Estate Company, announces to invest Rs 2,500 crore to develop two exclusive townships in Gurgaon. The company is looking forward to take up more such projects in Southern India.

The estimated investment for these two projects will be around Rs 2,500 crore each and made over the next 3-4 years. QVC has already acquired 200 acre land in Gurgaon for the proposed project, informs CEO Prakash Gurbaxani. Read More »

HUDA to Make Its Plots Prohibitive

The Haryana Urban Development Authority (HUDA) is going to increase price of its plots in its upcoming Gurgaon colonies. Several factors are believed to be accountable for the proposed hike. It includes large expenditure on mega infrastructure projects such as Metro Extension in Gurgaon, wider roads and flyovers, expensive cost of land, and increasing development cost.

However, the prices of HUDA plots will be higher than what has been offered earlier but it would be less than what the builders offer, says TC Gupta, Chief HUDA Administrator. Plots in Sector-57 fetched Rs 3,780 and Rs 4,620 per square yard in 2004 and Rs 6,000 per square yard for the group housing society plots in 2006. Read More »

HUDA to Develop Skyscrapers in Gurgaon

Ministry of Civil aviation has given a nod to the Haryana Urban Development Authority (HUDA) to bring skyscrapers at its proposed city centre site in Sector 29, Gurgaon.

Earlier, the HUDA’s plan to build four 140 storeyed towers could not fall into green box because of the ministry’s disapproval of the project. Despite the ministry’s order to decrease the height, the structures will be taller than the DLF’s ship shaped building. The proposed business district will come over a large area of 380 acres and is scheduled to be over by next couple of years, says Haryana CM Bhupinder Singh Hooda.

It does not make any sense to construct only two storey buildings, says a HUDA official. The Authority is working on sketch and drawings of the project and says them to be ready within the next three months. Then, HUDA will either design the project by itself or invite designs from known companies. Read More »

HVPN To Develop Properties In Gurgaon

Attracted by the glitz of real estate business, the state owned Power Company Haryana Vidyut Prasaran Nigam (HVPN) has recently decided to step into a developer’s shoes and construct sky scrapers catering to commercial offices at peripheral locations in Gurgaon.

The Authority has large plans to make real money from construction of these complexes by renting out the commercial and office space to major retail players bullish to establish their presence in cyber city of Gurgaon. Read More »

New Circle Rates for Gurgaon Properties

After Delhi, it’s Gurgaon that raised circle rates and will see property prices rising in areas falling under New Residential Zones (NRZ).

These zones have been developed into residential areas. The new rates will come into effect from July 4. For inhabited areas, the authority is considering about bringing a nominal increase in rates – 10 to 12 per cent. The move has been decided to tap the growth potential of NRZs.

However, real estate prices have more or less shown stabilization for the past few months in areas that are already developed, says Gurgaon DC Rakesh Gupta.  There was no need to increase the circle rates in the region. Read More »