Gurugram's Department of Town and Country Planning (DTCP) conducted demolition drives across 13 unauthorized colonies, targeting illegal urban development. Supported by local police, the DTCP cleared over 40 acres of illegally carved-out colonies and razed more than 50 structures between July 18 and July 23.
HRera has directed Assotech Ltd to refund Rs 38.5 lakh to a homebuyer due to the delayed possession of a flat in the Assotech Blith project. Despite promises and payments, the unit remained incomplete, prompting the buyer to seek legal recourse. HRera rejected the developer's justifications for the delay and ordered a refund with 11% interest within 90 days.
PwC India has expanded its footprint in the Delhi-NCR region with a new 1.25 lakh sq ft office in Gurugram's 'DLF Downtown 4'. This sixth office in NCR increases PwC India's capacity to nearly 8,000 people. Chairperson Sanjeev Krishan highlighted the growing demand for their services. The new facility will accommodate over 1,200 employees.
Gurugram's DTCP has escalated enforcement in Sushant Lok 2, issuing restoration orders against over 60 properties. These properties are in violation of building norms and engaging in unauthorized commercial activities. This action follows unheeded notices regarding illegal constructions and commercial operations like coaching centers and salons.
The Supreme Court expressed concern over coercive actions by a Gurugram trial court against homebuyers in cheque bounce cases. The court will investigate the matter, citing awareness of the court's operations. This development arose during a hearing on petitions from over 1,200 homebuyers alleging forced EMI payments despite lacking possession of flats.
HCBS Developments will invest ₹700 crore in Gurugram. The investment aims to develop Twin Horizon, a residential project in Sector 102. This project spans 5.2902 acres. It is expected to generate ₹1,400 crore in revenue. Twin Horizon will feature two high-rise towers. It will offer 268 residential units and seven commercial units. Morphogenesis designed the project.
Smartworks Coworking Spaces Ltd shares closed with a 9% premium, ending at Rs 445.10 on the BSE and Rs 445.05 on the NSE. The IPO, priced at Rs 407, saw strong investor interest, being oversubscribed 13.45 times. The company intends to utilize the raised capital of Rs 583 crore for business expansion and debt reduction.
Elan Group, a Gurgaon-based developer, has secured Rs 250 crore from Piramal Finance. The funding will support the construction of a commercial project in Gurgaon. This follows a Rs 1,200 crore funding from Kotak Real Estate Fund last year. Elan Group will use the funds to expedite its regional projects. The company's portfolio includes 15 projects across various segments.
Smartworks Coworking Spaces' Rs 583-crore IPO witnessed a robust 13.45 times subscription on its final day, driven by strong QIB and NII interest. The company plans to utilize the raised capital for expansion, debt reduction, and general corporate purposes. With 48 operational co-working centers, Smartworks aims to strengthen its position as a leading flexible office space provider.
Gurugram authorities have taken strict action against commercial establishments operating illegally in residential areas of Sushant Lok-1. A recent enforcement drive resulted in 61 show-cause notices issued to plot owners and the sealing of unauthorized constructions in Vyapar Kendra Market.
DLF reported a strong FY25, with a 32% revenue increase to ₹7,376 crore and a 26% rise in net profit to ₹2,744 crore, driven by robust housing demand and project execution. The company's net debt significantly decreased to ₹2,068 crore. DCCDL, its rental arm, also saw growth, with revenue up 12% and a total operational portfolio exceeding 40 million sq.
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