Page 10 - Gurugram

Signature Global sells 1,008 flats in Gurugram for over Rs 3,600 crore

Realty firm Signature Global on Sunday said it has sold more than 1,000 flats in its luxury housing project in Gurugram for over Rs 3,600 crore on strong demand for residential projects. Housing demand has been very strong in the last two years, especially in the luxury homes segment. In a regulatory filing, Signature Global informed that it has achieved "pre-formal launch sales of more than Rs 3,600 crore for its latest premium housing residential development project 'DE LUXE-DXP' at Sector 37D in Gurugram. The project is spread over 16.5 acres and has a sales potential of 2.7 million square feet. Signature Global will develop 1,008 units in this housing project. Pradeep Aggarwal, Chairman of Signature Global, said, "With growing affluence in the middle class, a significant population segment has developed better purchasing power and higher aspirations". These factors have led to growing demand in the mid-housing segment, he added. "...modern-day consumers are seeking a mix of

Six months on, police add UAPA charges in cases connected to Nuh violence

Police have slapped charges under the stringent UAPA against the accused in three cases connected to the murder of two home guards and a Bajrang Dal member and an attack on a cyber police station six months ago. While the charges were not included in the initial FIRs related to the cases, court documents showed these were added to the challan presented in a court to oppose the bail petition filed by the accused. Six people, including two home guards and a cleric, died in the clashes that erupted in Nuh after a procession of the VHP was attacked by mobs on July 31 last year and spread to adjoining areas, including Gurugram. The imposition of UAPA in three FIRs came to light three days ago when lawyer Tahir Hussain Rupariya, representing some of the accused, filed their bail petitions before the court. Rupariya said after the bail application was filed, information was received from the court that charges under the Unlawful Activities (Prevention) Act (UAPA) had been imposed on two o

PM to lay foundation stone of Gurugram Metro Rail on Feb 16: Top points

PM Modi will lay the foundation and dedicate to the nation various projects worth over Rs 9,000 crore in Haryana's Rewari on Friday

Man gets kebab in Gurugram from Lucknow in less than 30 mins, sues Zomato

The petitioner urged the court to restrain Zomato from continuing the services under 'Zomato Legends'

Signature Global to develop housing project in Gurugram as demand surges

Realty firm Signature Global has partnered the landlord to develop a housing project on a 20-acre land in Gurugram with a revenue potential of Rs 4,500 crore, as part of its expansion plan. Signature Global has entered into a Joint Development Agreement (JDA) for 20.32 acres land in sector 71, southern peripheral road, Gurugram. The total development potential on this land is 28.4 lakh square feet of residential space. Signature Global Chairman Pradeep Aggarwal said the potential sales realisation would be around Rs 4,500 crore in this upcoming project. With a surge in housing demand after the COVID pandemic, real estate developers have been acquiring land outright as well as partnering with landlords to expand their businesses. Earlier this month, Signature Global had announced the signing of three separate JDAs with landlords to develop housing projects on a total 21.38 acres land parcels. The combined development potential in volume terms is 32 lakh square feet of residential

Airbus forms JV with Air India to launch pilot training centre in Gurugram

Airbus has partnered with Tata group-owned Air India for setting up a pilots training facility in Gurugram, Haryana, under a 50:50 joint venture, the company said on Thursday. Besides, the European aviation major also announced a collaboration with GMR Aero Technic to offer aircraft maintenance engineering training courses at the latter's facility in Hyderabad. Spread over 3,300 sq mt, the Tata Airbus training centre will be equipped with 10 full flight simulators (FFS), flight training classrooms and briefing and debriefing rooms as part of the complete Airbus Flight Training Device setup, Airbus said. The facility, which is expected to be operational from early 2025 with the initial installation of four A320 FFS, will offer A320 and A350 flight training to some 5,000 new pilots over 10 years, it said. It will offer courses approved by India's DGCA and European aviation safety regulator, EASA, Airbus said. Under its collaboration with GMR Aero Technic, Airbus said it will provide

Housing sales in Gurugram up 13% in 2023; down 7-8% in Noida: Anarock

Housing sales in Gurugram rose by 13 per cent annually in 2023 on high demand, especially for luxury flats, but Noida and Greater Noida saw a 7-8 per cent fall, according to Anarock data on the Delhi NCR market. Real estate consultant Anarock's data showed that sales of residential properties in Gurugram went up 13 per cent to 36,970 in 2023 from 32,615 units in the previous year. However, sales in Noida fell 8 per cent to 5,840 units from 6,360 units. Greater Noida saw a 7 per cent drop in sales to 10,180 units from 10,985 units. Ghaziabad, too, witnessed a fall of 8 per cent to 6,340 units from 6,890 units. The total housing sales in Faridabad, Delhi and Bhiwadi decreased to 6,295 units during 2023 from 6,860 units in the previous year. Overall, the Delhi-NCR saw only a marginal growth of 3 per cent in housing sales to 65,625 units during 2023 from 63,710 units in the previous year. Anarock Group Regional Director & Head of Research Prashant Thakur said, "Apart from Gurugram, ..

Godrej Properties sells more than 600 flats for Rs 2,600 cr in Gurugram

Godrej Properties Ltd on Tuesday said it has sold more than 600 flats in its new luxury housing project at Gurugram, Haryana. In a regulatory filing, the company said it has "sold inventory worth over Rs 2,600 crore in its project Godrej Aristocrat, located in Sector 49 on Golf Course Extension Road, Gurugram. " The company will develop nearly 750 apartments in this 9.5-acre housing project. The starting price is around Rs 4 crore per unit. Godrej Properties said this is its most successful launch ever in terms of the value of sales achieved, surpassing the previous best of over Rs 2,000 crore at its project Godrej Tropical Isle in Noida last quarter. MD & CEO Gaurav Pandey said, "Gurugram is an extremely important market for Godrej Properties. We hope to launch four new projects in Gurugram in 2024..." Godrej Properties, the real estate arm of Godrej Group, is one of the leading developers in the country. During April-September 2023-24, Godrej Properties achieved 48 per cent ...

2 fresh Covid-19 cases detected in Gurugram, active cases rise to four

The number of active Covid cases in Gurugram district reached four after two more instances of the infection was detected, the health department said on Saturday. District Surveillance Officer Dr Jai Prakash Rajliwal said a 36-year-old man who had returned from Indonesia got tested for Covid due to sore throat, cold and cough and was found infected. Apart from this, a 32-year-old woman was also found Covid infected but the health department did not find any travel history of the woman, he added. On the other hand, the health department collected samples from 102 people on Saturday and sent those for testing, officials said. An official of the health department said that between December 18 and 23, the Health Department collected samples of more than 200 people for testing. Of them, three women and one man were found infected. As the patients have mild symptoms of Covid, all have been kept in home isolation, the official said.

Gurugram sees up to 45% price rise for premium homes in last one yr: Report

Prices of premium homes -- under construction and ready -- have increased up to 45 per cent in Gurugram in the last one year, according to Savills India. Real estate consultant Savills on Saturday released a report showing that prices of completed housing units have risen by 28-45 per cent in Gurugram during the last one year. Rates of under construction homes were up 12-45 per cent. In Noida, the prices rose by 27-36 per cent for completed units and 23-47 per cent for under construction residential properties. In Gurugram, the Savills report showed that New Gurugram and Dwarka Expressway were the top performing micromarkets with an annual growth of 45 per cent and 21 per cent, respectively in average capital values of under construction properties. Golf Course Road and Golf Course Extension Road & Souther Peripheral Road registered the highest average capital value appreciation for ready-to-move properties with a year-on-year increase of 45 per cent and 39 per cent, ...

MakeMyTrip CEO, Genpact CHRO each buy Rs 33 cr apartment in Gurgaon

Rajesh Magow and Piyush Mehta each secured 6,500 sq ft apartments at The Magnolias by DLF on Golf Course Road, showing the growing demand for luxury real estate

New cities from old cities

In the current wave of building smart cities, we must focus on creating equal cities that bridges the development divide between the core and the outskirts

Amidst high demand, DLF sells properties worth Rs 1,400 cr in Haryana

Realty firm DLF Ltd on Wednesday said it has sold independent floors and commercial plots for around Rs 1,400 crore in Gurugram and Panchkula, in Haryana, amid strong property demand. DLF, the country's largest real estate developer in market cap, has launched two projects in Sector 67, Gurugram and Panchkula. "We have launched and completely sold out 75 shop-cum-office (SCO) plots in our new project 'Central 67' Gurugram," DLF Home Developers Joint Managing Director and Chief Business Officer Aakash Ohri told reporters here. These 75 units have been sold for Rs 700 crore, he said, the total land size of this project is 9 acres. The prices ranged between Rs 7 crore and Rs 25 crore. Ohri said the company has launched another project 'Valley Orchard' in Panchkula where it is developing 470 independent floors. "Out of 470 units, we have launched 400 units. All of them have been sold for Rs 700 crore," he said. The company has sold floors at Rs 9,000 per square feet. Ohri noted that

Emaar India eyes Rs 900 crore luxury housing project in Gurugram: CEO

Realty firm Emaar India will invest Rs 900 crore over the next four years to develop a luxury housing projects in Gurugram as part of its expansion plan, a top company official said. The company, which is part of Dubai-based Emaar Properties, has launched and already sold 424 luxury homes in its group housing project 'Urban Oasis' located at Sector 62, Golf Course Extension Road in Gurugram. In an interview with PTI, Kalyan Chakrabarti, CEO of Emaar India, said, "We launched a residential project after a gap of almost four years, and were humbled by the response from the market." Emaar India has sold out all 424 flats launched in the first phase for Rs 1,723 crore in revenue. It received 10 times subscription with 4,259 expression of interests for the 424 homes available. He said the demand for luxury homes in all major cities including Gurugram is very strong from both end users and investors. Asked about the project cost, Chakrabarti said it will be around Rs 900 crore excluding

Online delivery in Gurugram next year, offline store in 2: IKEA India CEO

Pulverer said that IKEA is also working on increasing sourcing from India, which currently stands at 30%

M3M India targets Rs 5,000 cr revenue from 333-acre township in Haryana

Realty firm M3M India on Wednesday said it is targeting 5,000 crore in revenue from its 333-acre township in Panipat. In a statement, the company said it has received the license to develop the 'M3M City of Dreams' township at Panipat in Haryana. The company has already sold over 700 plots -- worth about Rs 1,100 crore -- out of 2,100 plots, M3M said. M3M is expecting a topline of Rs 5,000 crore from this project. The company has received RERA registration for the entire 333-acre land parcel that it had acquired from Ambience for Rs 1,500 crore, including necessary government fees. "The company is investing Rs 1,200 crore, towards its development," M3M said, adding that the total cost, including land price, would touch Rs 2,700 crore. Gurugram-based M3M aims to deliver this project in the next 15-18 months.

Godrej eyes Rs 3,000 cr revenue from new luxury housing project in Gurugram

Realty firm Godrej Properties will soon launch a luxury housing project in Gurugram with an estimated revenue potential of around Rs 3,000 crore as it seeks to encash a rise in demand for premium residential properties. The company will develop nearly 750 apartments in a 9.5-acre housing project 'Godrej Aristocrat' located at Sector 49 in Gurugram. The starting price is around Rs 4 crore per unit. According to real estate consultants, Godrej Properties has started seeking expressions of interest (EOI) from potential homebuyers and already received more than 1,200 EOIs. Market sources said the company is expecting to generate revenue of around Rs 3,000 crore from this project. Real estate consultant Anarock Vice Chairman Santhosh Kumar said the Gurugram housing market remains buoyant despite a sharp appreciation in prices. In March, DLF Ltd sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within three days. Proper

Ganga Realty plans over Rs 1,000 cr investment on Gurugram housing project

Real estate developer Ganga Realty on Monday said it will invest more than Rs 1,000 crore to develop a luxury housing project in Gurugram, Haryana. The company will build 302 apartments in this project 'Nandaka 84', which is spread over 8.33 acres, Ganga Realty said in a statement. The housing project will be completed by 2028. Vikas Garg, Joint Managing Director, Ganga Realty, said the investment of over Rs 1,000 crore will be funded through internal accruals. The prices of the apartments and penthouses start from Rs 4.05 crore onwards. In March this year, Ganga Realty had announced investments of Rs 750 crore to build an affordable housing project in Gurugram. The company is developing 2,972 apartments in its project 'Tathastu', which is spread over 22 acres in Sector 5, Sohna-Gurugram. The price of the apartment starts from Rs 25 lakh. The demand for luxury homes have risen in Gurugram in the last two and half years. To tap this demand, many real estate developers are develo

Oberoi Realty enters Delhi-NCR; buys 15-acre land in Gurugram for Rs 597 cr

Oberoi Realty has bought nearly 15-acre land in Gurugram for Rs 597 crore to develop luxury housing project, marking its foray into the Delhi-NCR property market. The Mumbai-based company has "executed an agreement for sale with Ireo Residences Company Pvt Ltd and others for acquiring land admeasuring approximately 14.816 acre equivalent to 59,956.20 square meters at Sector 58, Gurugram, Haryana." In a regulatory filing on late Friday, Oberoi Realty said the consideration for the transaction is in the form of event/ time linked monetary consideration of up to Rs 597 crore, and up to a certain area in the project for the existing homeowners and others. The company has taken possession of this land and it will get an estimated area of 2.6 million square feet for development. "This transaction marks the company's foray into the NCR region," Oberoi Realty said. The company intends to primarily develop a luxury residential group housing project on this land parcel. Oberoi Realty has .

Signature Global Q2 loss narrows to Rs 20 cr; buys 25 acres in Gurugram

Realty firm Signature Global has posted a consolidated net loss of Rs 19.92 crore in the second quarter of this fiscal and said it will acquire an entity having 25 acres of land in Gurugram at nearly Rs 500 crore enterprise value. Its net loss stood at Rs 59.25 crore in the year-ago period. Total income also fell to Rs 121.16 crore during July-September period of 2023-24 financial year from Rs 135.68 crore in the corresponding period of the previous year, according to a regulatory filing on Thursday. Total expenses declined to Rs 144.84 crore in the second quarter of this fiscal year from Rs 223.33 crore in the year-ago period. Signature Global also announced that it has signed a definitive agreement to acquire 100 per cent stake in Gurugram Commercity Pvt Ltd (GCPL), which owns 25.14 acre land in Sector 71 Gurugram. The enterprise value of GCPL is Rs 495 crore. "The acquisition of GCPL will result in the Company owning ~25.14 acres of land parcel in the prime location of sector-