Ocean Seven’s licence cancelled in Gurugram, buyers seek another developer

Authorities in Gurugram have revoked the license of Ocean Seven Buildtech due to a stalled housing project, citing extensive delays and failure to meet construction milestones. Homebuyers expressed relief at the decision and are now searching for a new developer to finish the project. The government will assume control of the property, while investigations continue regarding potential fund misappropriation from buyers.

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Two-storey dwelling units can now be redeveloped: Delhi development body

The Delhi Development Authority has sanctioned a policy focused on the overhaul of outdated two-storey residential units, with plans for broader application across the city. This will streamline building plan approvals by eliminating NOC requirements across multiple departments. Additionally, a crucial land use alteration for a metro depot in Narela Sub-City was approved, which aims to boost connectivity and promote regional growth.

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Haryana RERA grants four-month extension to projects hit by West Asia disruption

Haryana RERA-Gurugram bench has extended completion timelines of eligible registered real estate projects by four months, citing the West Asia situation as a force majeure event. The benefit applies to projects whose completion, revised completion or extended completion date falls on or after February 28, 2026.

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Table Space files DRHP for ₹800 crore IPO

Tablespace Technologies, which operates managed workspace brand Table Space, has filed its draft red herring prospectus with SEBI for an IPO. The proposed issue comprises a fresh issue of up to ₹800 crore and an offer for sale of up to 6.55 crore equity shares.

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Mumbai: ₹1,351 crore bid for Century Mills plot to come up before BMC panel on August 12

The BMC's improvement committee will greenlight a 30-year lease for the Century Mills site located in Lower Parel. Peddar Realty Ltd's bid, amounting to Rs 1,351 crore, topped the offers for the redevelopment initiative. Presently, the site is home to 476 eligible mill workers' families and ten shops. Families will receive new 405 square feet flats for permanent housing.

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Maharashtra makes structural fitness, provision for rainwater harvesting a must for old buildings

Maharashtra's old buildings must now acquire structural certificates before obtaining new utility connections. Compliance with essential practices like rainwater harvesting and bio-sludge management is mandatory for these approvals. As a result, municipal authorities are tasked with verifying adherence to these ecological standards to enhance convenience in living and business activities.

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Entrepreneur Manav Sardana buys DLF The Dahlias penthouse in Gurugram for record ₹271 crore

Manav Sardana purchased a penthouse for ₹271 crore, setting a new record. This luxury unit boasts 17,200 sq ft of super area and 10,500 sq ft carpet area. DLF's The Dahlias project has seen significant sales, with prices exceeding ₹1 lakh per square foot. The developer noted strong interest from tier-two cities and NRI buyers. Earlier, Madhusudan Kela bought a flat in the same project for ₹120.7 crore.

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