Latest Property News on 'Gurgaon'

Real Estate Investments in Gurgaon

Gurgaon, a city in the northern eastern state of Haryana, has now become much famous as India’s Outsourcing Capital. The impressive growth that this cyber city has shown is hardly comparable with any of what its counterparts have accomplished.

Earlier, Gurgaon was known to be a sleepy town on the outskirts of the capital city. Today, the situation has largely changed with several big buildings and shopping arcades doting on this suburb which has witnessed a major real estate boom for the last few decades. Read More »

Gurgaon Property Builders to Pay a ‘Metro Cess’

Now, bringing Delhi’s Metro Rail into Gurgaon and Ghaziabad is going to cost. The Haryana and Uttar Pradesh are considering imposition of a ‘Metro Cess’ to finance several upcoming Metro projects.

The Haryana Government has thought of making its contribution by levying a tax on property developers to raise Rs.680 crore needed for development of Gurgaon’s Metro Rail, says SS Dhillon, director of town and country planning, in the Haryana Government. It would be mandatory for all property builders to pay the tax that will be a part of external development charges. Read More »

Gurgaon Sealings – A boon for residents or curse for traders?

The HUDA stepped up its drive and took action against unauthorized commercial establishment operating from residential areas in Gurgaon. The action was spread across the entire Gurgaon, with majority of the effect being seen in DLF Phase I, where the agency sealed 40 units.

369 shops were sent the legal notice for running shops from residential premises in HUDA sectors. Of this, 119 have complied with the notice whereas the rest are still continuing to do business. Despite the fact that there was such a stringent warning beforehand, none of the traders with shops in private colonies have followed it. Read More »

Real Estate Prices Rise in Tier II and Tier III Cities

As property prices in metros see a shoot up, Tier I and Tier II cities have emerged as the most promising market for residential as well as retail developments. Now, these places experience a sharp increase in property prices which has gone along with increased demand. It has shot up by as much as 40% in the past two years which is believed to be the highest as compared to earlier hike descriptions.

The property boom in Tier II and Tier III cities is further fuelled by the factors like opening up of financial sector, rationalization of income tax and loan policies in addition with well-paid IT jobs. However, the rise in prices does not square with the earning capabilities and is being considered as an unhealthy sign in the long run. Read More »

Real Gains for Indian Real Estate

Real Estate in India has seen a tremendous positive change in the last decade. Today, Indian construction industry enjoys a substantial presence in the world and has reached to a niche where there is no going back. Escalating GDP, improving demographics, growing affordability, and rising impact of IT and ITes are some of the factors that are believed to have fuelled the growth.

The booming Indian realty sector is all set to witness a cumulative investment inflow of around $435 billion in the next approaching years, says a report by Edelweiss Securities. Read More »

Sealing Drive Next to Target Gurgaon Property

The sealing drive has now hit Gurgaon as its next target after wiping out the Delhi’s illegal commercial establishments. Authorities have sealed over 115 residential properties in HUDA sectors that have been taken into use for commercial purposes since August.

Property surveys show set up of 369 residential premises in HUDA sectors that are being used for commercial purposes. Of this, the remaining 254 will be sealed soon. There are 1,319 properties under the lens of the Enforcement Department, and all have been sent legal notices which ask the violators to shut down their illegal shops within a month’s time, say Enforcement officials. Read More »

Gurgaon to have World’s tallest skyscrapers

There is going to be something exceptional about every visit to Gurgaon in the next few years. Visitors will find nothing special except perhaps for the view of the 140 storeys high buildings standing in majestic splendor.

Haryana Government has tightened its seat belt to drive right into the direction of completing the construction of a world class Golden Triangle City Centre in Sector 29 with four tallest buildings in the world by 2010. Read More »

Govt green light for 14 more SEZs

The Board of Approvals (BOA) under the stewardship of Union Commerce Minister Kamal Nath On Thursday approved 14 new proposals to set up Special Economic Zones (SEZs).

With this, the total number of SEZs approved by the Union government has gone up to 164.

A month back, the empowered group of ministers (e-GOM) headed by Defence Minister Pranab Mukherjee had lifted the cap on allowing SEZs that was earlier set at 150. Read More »

World’s Largest Mall

Unfazed by a decrease in footfalls at Gurgaon malls and virtual halving of rental rates, DLF Universal has drawn up an ambitious plan. It is going to build what could be the biggest mall in the world, as far as the claim goes.

The location will still be Gurgaon. Called the Mall of India, this is set to be a humungous 40-lakh sq. ft. sprawling property spread over 32 acres of land. The average size of malls here is 2.5 lakh sq. ft. This one will be 16 times bigger. Parking space will be available for 10,000 cars. DLF believes that Gurgaon, where so many malls have sprung up, has the potential to become a mega shopping district in the NCR region. Read More »