Category: News

The Gurugram Metropolitan Development Authority (GMDA) has invited bids for the construction of an elevated corridor along the Southern Peripheral Road (SPR), a project estimated to cost around Rs.755 crore. The proposed infrastructure upgrade aims to ease traffic congestion and enhance connectivity between major road networks in Gurugram.

Officials said the plan involves building a 4.2-kilometre signal-free elevated corridor between Vatika Chowk and National Highway 48. The elevated stretch will feature four lanes in each direction (4+4 configuration), providing an additional traffic layer to improve mobility along one of the city’s busiest corridors.

In addition to the elevated section, the project includes the development of 3+3 lane primary service roads and 2+2 lane secondary service lanes to support local traffic movement. Two-lane entry and exit ramps are also planned at key intersections to ensure smoother access for commuters.

To further streamline traffic flow, an interchange will be constructed at NH-48, enabling seamless connectivity with the national highway network. Another interchange has been proposed at Vatika Chowk to link the SPR corridor with the Gurugram–Sohna Elevated Corridor.

Highlighting the need for improved road infrastructure, Mr. P.C. Meena, Chief Executive Officer of the Gurugram Metropolitan Development Authority, said Gurugram’s rapid urban expansion requires high-capacity transport networks to support increasing mobility demands and sustain economic growth.

Once completed, the corridor is expected to provide faster connectivity between the Dwarka Expressway, NH-48 and the Gurugram-Sohna corridor. The project is also likely to ease traffic pressure at busy junctions such as Vatika Chowk and Subhash Chowk.

At present, many commuters travelling from Dwarka Expressway or southern Gurugram towards Sohna or Faridabad rely on internal city roads through Rajiv Chowk or Subhash Chowk to reach major highways. The proposed elevated corridor is expected to provide a more direct route, reducing travel time and congestion. Officials said the project is expected to be completed within 30 months from the date the contract is awarded.

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Luxury home sales in Gurgaon witnessed a sharp rise in 2025, with transactions for properties priced at Rs.10 crore and above climbing 80% year-on-year to Rs.24,120 crore. The surge enabled the city to overtake Mumbai in total sales value within this premium segment.

According to a joint report by India Sotheby’s International Realty and CRE Matrix, Gurgaon has emerged as India’s fastest-growing ultra-luxury residential market. In comparison, Mumbai recorded sales worth Rs.21,902 crore in the same price bracket during the year.

The report highlighted that sales volumes in Gurgaon nearly tripled, rising to 1,494 units in 2025 from 519 units in 2024. Both increased transaction activity and price appreciation contributed to the record-breaking performance.

Dwarka Expressway led the growth story, registering an extraordinary 2,079% jump in transaction value, from Rs.383 crore in 2024 to Rs.8,347 crore in 2025. The spike was driven by major luxury project launches and infrastructure upgrades. Golf Course Extension Road also posted strong momentum, with transaction values rising 379% alongside a significant increase in weighted average prices, which moved from Rs.24,855 to Rs.37,899 per sq.ft.

In contrast, established premium micro-markets such as Golf Course Road experienced relatively slower sales due to limited fresh supply.

The report noted that while Mumbai has traditionally dominated India’s high-end property landscape, Gurgaon has now surpassed it in total sales value for homes priced above Rs.10 crore. Analysts attribute the shift to improved infrastructure, growing corporate presence and sustained wealth creation in the Delhi-NCR region.

The findings suggest a broader transformation in India’s luxury housing market, with demand increasingly shifting toward emerging urban corridors offering modern connectivity and large-scale premium developments.

Reference – Gurugram outpaces Mumbai in high-end luxury residential sale

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Reliance MET City, a wholly owned subsidiary of Reliance Industries Ltd, has launched a 100-acre mixed-use development named ‘Metropolis by MET City’ at Daryapur village in Jhajjar district, Haryana.

The newly introduced project forms part of a larger 140-acre master-planned township that will feature residential plots, industrial plots, and a future group housing component. In its first phase, the company has released around 100 acres, aimed at individual homebuyers, investors, and enterprises looking to operate within the MET City ecosystem.

Key Details of Metropolis by Reliance MET City:

According to the company, 56 acres have been earmarked for industrial plots, while 42 acres are dedicated to residential plots. Residential plot sizes range from 112 to 179 square yards, priced between Rs.99,000 and Rs.1.10 lakh per square yard. The development is being rolled out in two phases and is ready for possession, enabling buyers and businesses to begin construction immediately.

Mr.Shrivallabh Goyal, CEO and Whole-Time Director of Reliance MET City, said the project aligns with the vision of building integrated urban ecosystems where people can live close to workplaces. He added that the focus remains on developing a sustainable, infrastructure-driven community designed for long-term growth. The project is being developed by Model Economic Township Limited on a self-funded basis, with infrastructure and construction executed in-house.

Strategic Location And Connectivity

Strategically located near the Delhi border, the site is five minutes from the KMP Expressway and close to AIIMS Badsa, the upcoming Haryana Orbital Rail Corridor, and the proposed BCCI International Cricket Stadium. Spanning 8,250 acres, Reliance MET City is positioned as a smart city and global manufacturing hub, currently hosting over 650 companies from 11 countries and generating more than 40,000 jobs.

Reference – Reliance MET City launches 100-acre mixed-use project ‘Metropolis’ in Haryana

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Haryana Chief Minister, Mr. Nayab Singh Saini on Monday directed officials to make a key road stretch in Gurugram completely pothole-free within 24 hours, warning that any negligence in public welfare projects would invite strict action.

The directive was issued during a meeting of the District Public Relations and Grievance Redressal Committee in Gurugram. The Chief Minister instructed authorities to repair the road from Umang Bhardwaj Chowk in Sector-10A via Gadoli to the Dwarka Expressway on a priority basis.

Emphasising the state government’s focus on Gurugram’s overall development, Mr. Saini asked officials to address public grievances with sensitivity, urgency and accountability. Of the 17 complaints taken up during the meeting, 12 were resolved on the spot, while five were deferred with instructions to submit detailed status reports in the next session.

The Chief Minister also ordered that all damaged roads across the city be repaired and made fully motorable within one month. He directed agencies including HSIIDC, MCG and GMDA to remove encroachments and carry out repair work strictly in accordance with prescribed norms.

Addressing a long-pending road blockage at Carnation Residency in Sector-85, Mr. Saini said a 24-metre-wide connecting road between Sector-86 and the Dwarka Expressway would be constructed within two weeks. The project is expected to benefit nearly 7,000 residents and around 800 school students. He further set a one-month deadline to resolve waterlogging issues in Surat Nagar Phase-1 and warned of strict action against officials failing to meet timelines.

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The Haryana government is set to introduce a faceless property registration system, with a pilot project scheduled to begin in Faridabad by the end of March. The initiative is aimed at digitising land administration and improving transparency in property-related transactions across the state.

The pilot will run for a period of three months and will serve as a testing ground before the government considers expanding the system to other districts. The project will initially be implemented in one tehsil of Faridabad and will be closely monitored during the trial phase.

Announcing the move, Mrs. Sumita Misra, Financial Commissioner of the Revenue and Disaster Management Department, said the initiative marks a major step towards building a fully digital and citizen-friendly property registration process. She noted that the system is designed to minimise physical visits to government offices and make services more accessible and convenient for the public.

According to the state government, the faceless registration system will allow property registrations to be completed through a digital platform, reducing delays and limiting human intervention. The new process is expected to address long-standing issues such as lack of transparency, procedural inefficiencies and scope for corruption in land registration.

Mrs. Misra said the Faridabad pilot reflects Haryana’s broader focus on technology-led governance reforms. She added that the digital system would change the way citizens interact with land administration by offering faster processing and greater accountability.

The pilot will include all core features of the faceless registration system. Some additional, non-essential features may be introduced later based on operational needs and feedback from users. The platform will be hosted securely on the Ministry of Electronics and Information Technology’s cloud infrastructure.

Key safeguards include a comprehensive digital workflow, reduced discretionary powers, and oversight by nodal officers from both the Revenue Department and the implementing agency. The system will also generate a detailed audit trail, ensuring better monitoring and transparency.

Once the technical setup and user acceptance testing are completed, the three-month pilot will begin. Based on its performance and public response, the Haryana government may roll out the faceless property registration system in other districts in a phased manner, reinforcing its push for efficient and technology-driven public services.

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The Reserve Bank of India (RBI) on Friday announced that banks will now be allowed to lend directly to Real Estate Investment Trusts (REITs), a step aimed at improving access to long-term funding for the commercial real estate sector.

The announcement was made during the RBI’s first monetary policy review of the 2026 calendar year. The Monetary Policy Committee (MPC) decided to keep the benchmark repo rate unchanged at 5.25%, continuing its pause after cutting rates by a total of 125 basis points since February 2025.

RBI Governor, Mr. Sanjay Malhotra said the MPC chose to maintain the current policy stance to assess how earlier rate cuts are flowing through the economy, while also keeping an eye on domestic growth trends and global economic developments.

The decision to allow banks to lend to REITs is expected to provide a major boost to the sector, which has emerged as an important platform for owning and managing income-generating commercial properties such as office complexes, shopping malls

and logistics parks.

Until now, REITs mainly relied on capital markets for funding, raising money through bond issuances or equity offerings. While banks could invest in REIT units within prescribed limits, direct lending to the trust structure itself was not clearly allowed. As a result, many REITs depended on loans taken by special purpose vehicles (SPVs) that hold individual assets.

With this policy change, REITs will gain access to more stable and longer-term bank financing. This could help lower borrowing costs, support asset acquisitions, enable refinancing of existing debt and encourage portfolio expansion.

Industry experts have long argued that allowing bank credit to REITs would strengthen the real estate investment ecosystem and attract more institutional capital into commercial real estate. The RBI’s move is seen as aligning REITs more closely with other regulated investment vehicles and supporting the steady growth of income-producing real estate assets in the country. Overall, the decision is expected to deepen funding options for REITs while maintaining stability in the broader financial system.

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The National Highways Authority of India (NHAI) is set to open a major portion of the Gurgaon-Pataudi-Rewari highway to traffic by mid-February, offering long-awaited relief to commuters along the busy corridor. However, key structures such as a railway overbridge (RoB) near Pahari village will remain incomplete for now.

Officials said the highway would be made operational excluding the RoB and a few other pending structures, primarily to reduce commuter inconvenience. While most of the project is now nearing completion, full finishing- apart from the RoB, is targeted for March. The railway overbridge is expected to be ready by June.

Once operational, the highway is expected to enhance connectivity between Gurgaon, southern Haryana and Rajasthan, while easing pressure on the congested Delhi-Jaipur Expressway. It will also serve as an alternate route for industrial hubs in Manesar, Bilaspur and Dharuhera, improving traffic movement for both daily commuters and freight vehicles.

The project, estimated at Rs.900 crore, was inaugurated in July 2020 by Union minister Nitin Gadkari. Although it was initially slated for completion by December 2022, construction began in November 2021 following revisions to the timeline.

According to NHAI, delays at the RoB occurred due to late approvals from the railways for girder launching. Another bottleneck is the flyover at the Dwarka Expressway Gurgaon junction, where construction has been slowed by the presence of a 400 kV high-tension power line awaiting relocation. Delays in permissions and utility shifting have led to repeated deadline extensions.

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The year 2026 is set to usher in a series of major financial reforms that will directly impact how Indians earn, save, invest, borrow and transfer wealth. From higher tax rebates and a new income tax law to salary revisions under the 8th Pay Commission and fresh RBI rules on loans and credit reporting, the changes span across income tax, banking, investments and inheritance laws.

Whether you are a salaried professional, a mutual fund investor or a loan borrower, these reforms are expected to influence financial planning decisions in the coming year.

Higher tax rebate to kick in with ITR 2026

One of the biggest changes for individual taxpayers will be visible while filing income tax returns in 2026. Under the new tax regime, individuals earning up to Rs.12 lakh annually will effectively pay zero income tax, thanks to an enhanced rebate of Rs.60,000 under Section 87A.

Salaried taxpayers will receive additional relief through a standard deduction of Rs.75,000, pushing the tax-free income threshold to Rs.12.75 lakh. The move is aimed at easing the tax burden on middle-class earners while simplifying compliance.

New Income Tax Act to replace the 1961 law

From April 1, 2026, India will implement a new Income Tax Act, replacing the decades-old Income Tax Act of 1961. The revamped legislation significantly reduces complexity, cutting the number of sections from 819 to 536 and chapters from 47 to 23.

Alongside this, the Central Board of Direct Taxes (CBDT) is expected to notify new income tax return forms by January 2026. The simplified forms will feature higher disclosure thresholds for assets and liabilities, clearer deduction reporting and broader eligibility for easy-to-file returns. The government hopes these measures will reduce litigation and improve voluntary compliance.

8th Pay Commission to revise government salaries

Central government employees and pensioners can expect a salary overhaul as the 8th Central Pay Commission comes into effect from January 1, 2026, marking the end of the 7th Pay Commission’s tenure.

As per established practice, the accumulated dearness allowance (DA) will be merged with basic pay once the new commission is implemented, and DA will reset to zero. Revised salaries will be calculated using a fitment factor applied to the updated basic pay. DA, which was last raised to 58 percent in July 2025, is due for another revision before the new pay structure takes effect.

Mutual fund costs to become more transparent

Mutual fund investors will benefit from changes announced by the Securities and Exchange Board of India (SEBI), aimed at improving transparency and reducing costs. From April 2026, total expense ratios (TER) will exclude statutory levies such as GST, stamp duty and securities transaction tax, with costs disclosed in separate components.

SEBI has also lowered expense ratio caps across fund categories, including a reduction for index funds and ETFs from 1 percent to 0.9 percent. The reforms are expected to make investing more cost-efficient and easier to understand.

New code for tax-free inheritance of securities

From January 2026, SEBI will introduce a new Transmission to Legal Heirs (TLH) reporting code to automatically classify the transfer of securities from nominees to legal heirs as tax-exempt inheritances.

The move will help prevent incorrect capital gains tax demands and align reporting with existing tax law provisions that exempt such transfers. The new code will be used by registrars, depositories and listed companies when reporting transactions to tax authorities.

Mandatory probate scrapped in major cities

Inheritance procedures are also set to become easier. From January 1, mandatory probate of wills has been scrapped in Mumbai, Chennai and Kolkata following amendments to the Indian Succession Act, 1925. The change aims to bring uniformity in succession laws and reduce delays and costs associated with asset transfers, making it simpler for legal heirs to claim property.

Loans against silver to be allowed

Borrowers will soon be able to pledge silver jewellery and coins to raise loans, in addition to gold. Under new RBI guidelines effective April 1, 2026, banks, NBFCs, cooperative banks and housing finance companies can offer loans backed by silver. The move is intended to bring standardisation and better regulation to precious-metal-backed lending.

Weekly credit reporting to credit bureaus

From July 1, 2026, lenders will be required to report borrower data to credit bureaus on a weekly basis instead of monthly. Institutions will submit updates on fixed dates each month along with a full account snapshot by the following month’s deadline. The RBI believes the change will improve credit accuracy, reduce reporting errors and benefit both borrowers and lenders.

No pre-payment charges on floating-rate loans

In another borrower-friendly move, the RBI has directed lenders to eliminate pre-payment penalties on floating-rate loans for individuals and micro and small enterprises. The rule will apply to loans sanctioned or renewed from January 1, 2026. Together, these reforms signal a major reset in India’s financial landscape, with 2026 shaping up to be a year of significant change for households and businesses alike.

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In a significant step towards modernizing land records, India’s central government has initiated the adoption of Geographic Information System (GIS)-based property registration, aiming to replace outdated hand-drawn sketch maps used in property deeds. This move is designed to enhance accuracy, curb fraud, and establish conclusive land titling, under the broader framework of the Digital India Land Records Modernisation Programme (DILRMP) and the newly launched NAKSHA program.

The core objective of this transition is to eliminate inaccuracies in traditional land maps by incorporating precise geographic data, including latitude and longitude coordinates, into the property registration process. GIS-based records will link every property transaction to an exact, geo-referenced location, potentially using high-resolution satellite or drone imagery to ensure data integrity.

Key Benefits of GIS-Based Property Registration:

Enhanced Accuracy and Security: The shift to GIS will create legally valid, geo-referenced land boundaries, minimizing errors and tampering. This will link property deeds to digital maps, safeguarding against unauthorized changes. 

Reduction of Fraud and Disputes: By connecting land records directly to mapped locations, GIS will help eliminate the ‘black box’ nature of registration systems and prevent fraudulent transactions. Disputed or litigated properties will be flagged in real time. 

Transparency and Efficiency: The integration of GIS will allow citizens to access land records online, reducing the need for intermediaries and physical office visits, thus speeding up service delivery. A Unified Land Parcel Identification Number (ULPIN) will be assigned to each plot for easier access to legal, spatial, and ownership data.

Revenue Boost: Accurate property mapping will assist local governments in assessing property taxes more effectively, expanding the tax base and minimizing tax evasion.

Long-Term Impacts: Adopting GIS will lead to a conclusive land titling system, improving legal certainty around ownership and reducing litigation. It will also enhance infrastructure planning, support sustainable urban development, and enable quicker public grievance resolution. In the long run, these efforts are expected to drive economic growth through more efficient property transactions and better land-use management. The government is urging states to procure advanced survey equipment and adopt standardized software to ensure the smooth implementation of this nationwide initiative.\

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Plans for a new Regional Rapid Transit System (RRTS) corridor connecting Gurgaon and Noida are moving forward, with the National Capital Region Transport Corporation (NCRTC) submitting a draft detailed project report (DPR) to the Haryana government for review.

The proposed high-speed rail corridor will run between IFFCO Chowk in Gurgaon and Surajpur in Greater Noida and is seen as a key component of a broader connectivity plan aimed at linking Delhi’s IGI Airport with the upcoming Noida International Airport at Jewar. Once approved, the corridor is expected to significantly ease inter-city travel across the National Capital Region (NCR).

According to the draft DPR, the route will include six stations and will bypass Delhi entirely. It will pass through Sector 54 in Gurgaon, enter Faridabad at Bata Chowk, move via the Sector 85-86 junction, and continue towards Noida sectors 142 and 168 before terminating at Surajpur. The project is estimated to cost around Rs.15,000 crore.

This would be the third RRTS corridor planned through Haryana. Two other corridors: Delhi-Gurgaon-Manesar-Bawal and Delhi-Panipat-Karnal, have already received clearance from the Public Investment Board and are awaiting final approval from the Union Cabinet. The 93-km Delhi–Bawal corridor is projected to cost Rs.32,000 crore, while the 136-km Delhi-Karnal corridor is estimated at Rs.33,000 crore. Both are planned to originate from Sarai Kale Khan, the terminal station of the Delhi-Meerut RRTS line, which is ready for commissioning.

Authorities are also studying possible RRTS links from Sarai Kale Khan or Ghaziabad to Jewar airport. Depending on feasibility outcomes, alignments of other corridors may be adjusted.

The Gurgaon-Noida corridor is expected to integrate with the Delhi–Bawal line at IFFCO Chowk and with the proposed Ghaziabad-Jewar corridor at Surajpur. Travel time between IFFCO Chowk and Faridabad is projected at just 22 minutes, while Gurgaon to Noida could take about 38 minutes.

While NCRTC has proposed an elevated alignment, the Haryana government has suggested making the Gurgaon stretch underground due to dense development and high land costs. 

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