Embassy Industrial Parks, a joint venture between realty developer Embassy Group and private equity firm Warburg Pincus, acquired 24 acres in Gurgaon for `38 crore to set up a warehousing facility. The warehouse on National Highway-8 near Bilaspur Chowk will have a leasable area of 6.1 lakh sq ft. “The company will invest a total… Read More »
Ending ambiguity over criteria for issuing occupation certificate (OC) for residential plots, Huda has made it mandatory to have construction to the extent of 50% of the permissible ground coverage to receive OC, for residential plots in Huda sectors across the state. As per the allotment rule for residential plots, Huda allottees had to start… Read More »
As many as 17 commercial sites in Gurugram will be up for grabs in an e-auction on January 10. Huda is hoping to attract buyers to the auction in a bid to raise the much needed funds for the urban development body. The commercial properties are located in sectors 28, 29, 30 and 52. The… Read More »
In a major setback to real estate major DLF, the Punjab and Haryana High Court has ordered it to give back the 11 acres of land it has used to develop ‘The Crest’ project to the residents of ‘DLF Park Place’ in Gurgaon. The realty developer had been taken to court for violating the floor… Read More »
The 10-acre land, which supported a packaging plant that has been shut for five years now, is in Chauma, near Palam Vihar, and its market value is estimated to be around Rs 100 crore, a DTCP official said. Department officials said the family was in league with an MCG councillor who had contested the last… Read More »
Not every property developer has been hurt by demonetisation. Haryana Urban Development Authourity (Huda), the government developer, is still managing to attract buyers for its properties. In the two auctions held after demonetisation, Huda has managed to collect around Rs 50 crore by selling residential properties in Gurgaon. Despite the real estate market collapsing in… Read More »
Cash-strapped Huda will, for the first time, abandon its policy of lucky draws to auction residential plots in the city and allot them to the highest bidder. The move is aimed at generating the maximum revenue possible for the authority that is reeling under a financial crisis and does not even have enough funds to… Read More »