Haryana's commercial property registration spurs investment

04 Sep 2023 CW Team

Pradeep Aggarwal, Founder and Chairman of Signature Global (India), stated that this decision demonstrated a forward-looking approach that would stimulate investment and business growth in the state. He noted, "The passage of the Haryana Development and Regulation of Urban Areas (Second Amendment) Bill, 2023, demonstrates a commitment to fostering a business-friendly environment while ensuring that urban development is both streamlined and inclusive."

According to Pradeep Aggarwal, the flexibility offered by this amendment would attract both local and global enterprises, further enhancing Haryana's appeal as an investment hotspot.

Nayan Raheja of Raheja Developers commented that this move would promote the growth of the commercial real estate segment and create demand, leading to an increase in residential plot prices. He added, "As the decision permits individuals to open offices or commercial spaces on these floors, it will also drive up the rental value."

MD of Omaxe, Mohit Goel, emphasised that this decision reflected the state government's commitment to creating a thriving business environment and fostering a conducive business atmosphere.

Previously, such a provision was exclusively applicable to residential properties. Vishal Raheja, MD of InvestoXpert.com, pointed out, "This decision aligns with the evolving entrepreneurial landscape, recognising the importance of flexible space utilization. Just as adaptable work models have gained traction, the government is adapting its policies to catalyse growth."

By bridging the gap between statutory provisions and market demands, this move will empower businesses and bolster investor confidence, as per industry experts.

Also read:
UPRERA refunds 1.39M to Greater Noida project allottee
Luxurious Nizamuddin bungalow fetches whopping Rs 620 million

Industry experts have expressed their belief that the decision by the Haryana government to permit the registration of commercial properties as independent floors in licensed colonies would benefit the real estate sector in the region. Pradeep Aggarwal, Founder and Chairman of Signature Global (India), stated that this decision demonstrated a forward-looking approach that would stimulate investment and business growth in the state. He noted, The passage of the Haryana Development and Regulation of Urban Areas (Second Amendment) Bill, 2023, demonstrates a commitment to fostering a business-friendly environment while ensuring that urban development is both streamlined and inclusive. According to Pradeep Aggarwal, the flexibility offered by this amendment would attract both local and global enterprises, further enhancing Haryana's appeal as an investment hotspot. Nayan Raheja of Raheja Developers commented that this move would promote the growth of the commercial real estate segment and create demand, leading to an increase in residential plot prices. He added, As the decision permits individuals to open offices or commercial spaces on these floors, it will also drive up the rental value. MD of Omaxe, Mohit Goel, emphasised that this decision reflected the state government's commitment to creating a thriving business environment and fostering a conducive business atmosphere. Previously, such a provision was exclusively applicable to residential properties. Vishal Raheja, MD of InvestoXpert.com, pointed out, This decision aligns with the evolving entrepreneurial landscape, recognising the importance of flexible space utilization. Just as adaptable work models have gained traction, the government is adapting its policies to catalyse growth. By bridging the gap between statutory provisions and market demands, this move will empower businesses and bolster investor confidence, as per industry experts. Also read: UPRERA refunds 1.39M to Greater Noida project allotteeLuxurious Nizamuddin bungalow fetches whopping Rs 620 million

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..