Well, they are causing a nuisance by making noise in public area in late night. Nuisance or annoyance is of two kinds: the public nuisance and private nuisance. The public nuisance is an offence because it affects the society at large. Therefore is a punishable act under section 290 of the Indian Penal Code.

Private nuisance is a civil wrong. Private nuisance affects some individuals as distinguished from the public at large and requires special damage to be actionable. Therefore, you have the option to initiate a civil proceeding for compensation and prevention of their actions.

The private nuisance does not constitute a crime because section 95 of the Indian Penal Code primarily prevents to initiate the criminal prosecution in respect of trivial matters.

You can avoid those acts by scolding them, but you said that their parents allowed them to play in the corridor. In this situation, you may send their parents a legal notice to immediately stop that activity.

If they still allow them to play in the corridor file a civil suit for permanent injunction and compensation for mental agony. It is the responsibility of every member of the society not to disturb in the peace and enjoyment of others. If they do so, they shall be liable to compensate.