Tag: Bengaluru

Latest StoriesRegulatory

Karnataka to Charge for Groundwater; Meters Required for All

BENGALURU: In a significant effort to manage groundwater resources and promote sustainability, the state government has introduced fees ranging from Re 1 to Rs 35 per cubic metre for various users of groundwater, including individuals, housing societies, commercial establishments, industries, and mining operations throughout the state. The fees will affect all types of residential complexes, group housing societies, as well as government bodies providing water in urban settings. Commercial entities and mining operations will also be subject to these new regulations. Moreover, the government has mandated that all residential and commercial property owners secure a no-objection certificate (NOC) prior to…

IndustryLatest Stories

Godrej Properties Acquires 48 Acres in Bengaluru

Representative image NEW DELHI: Godrej Properties (GPL) has secured a 48-acre land parcel in Doddaballapur, North Bengaluru, via outright purchase. The planned development will mainly consist of plotted units, boasting a development potential of 1.1 million sq ft. Gaurav Pandey, MD & CEO of the company stated, “This investment emphasizes our aim to bolster our presence in crucial growth corridors with well-planned residential communities. Bengaluru remains a key market for us.” Additionally, the company recently acquired 50 acres of land in Raipur, set to include primarily plotted residential units with an estimated saleable area of 9.5 lakh sq ft. Published…

CommercialLatest Stories

IndiQube Spaces’ ₹700-crore IPO Launching July 23

NEW DELHI: IndiQube Spaces, a workplace solutions provider, has set a price range of Rs 225 to Rs 237 per share for its Rs 700-crore initial public offering (IPO). The IPO will be open for public subscription from July 23 to July 25, with bidding for anchor investors starting on July 22, as announced by the company. At the upper limit of the price range, the company’s valuation is estimated at nearly Rs 5,000 crore. IndiQube aims to raise Rs 650 crore from a fresh issue, while promoters will sell shares worth Rs 50 crore as part of the offer…

InfrastructureLatest Stories

Karnataka CM Halts Land Acquisition for Aerospace Park

The Chief Minister of Karnataka, Siddaramaiah, announced on Tuesday that the government will not proceed with plans to acquire land near Bengaluru’s international airport for an aerospace park, effectively putting an end to a three-year-long protest by farmers. Farmers from several villages in Devanahalli taluk have been demonstrating against the acquisition of their agricultural lands for industrial development. After extensive discussions with farmer leaders, the CM mentioned that the government is open to purchasing land from farmers willing to sell, offering higher compensation than the market value or a greater share of developed land as trade. Officials stated that these…

IndustryLatest Stories

Karnataka Urban Development: Hope for B Khata Property Owners

BENGALURU: Good news for B khata property owners awaiting building plans, Cauvery water connections, and electricity supply. Dr. Rajendra Prasad, the Deputy Chief Minister’s personal secretary, has reached out to the Additional Chief Secretary of the Urban Development Department to address the concerns of over 150,000 property owners affected by the Supreme Court’s ruling on illegal constructions. This initiative stems from a letter by former BJP Bengaluru South president NR Ramesh. He highlighted, “Most buildings are constructed on B khata properties. In the interest of property owners, a plan should be devised to sanction building plans for these properties, possibly…

IndustryLatest Stories

Rampant Building Violations Unchecked in Bengaluru Due to Resource Gaps

By Sanjana CS BENGALURU: Cooke Town has experienced a notable rise in blatant building violations over the last decade. Builders often disregard regulations, removing mandatory setbacks and constructing extra floors without the necessary permissions. Despite the Supreme Court providing clear guidelines to mitigate illegal constructions, the Bruhat Bengaluru Mahanagara Palike (BBMP) shows little willingness to enforce action against these violations. “In Cooke Town alone, 26 buildings have been flagged as severe offenders, yet only one has faced any form of action, and that was merely a token effort,” states resident Raja Shanmugam. The only building that encountered repercussions had added…

Latest StoriesRera

Complaint Filed Against Karnataka-RERA Over Delayed Resolution

BENGALURU: The Karnataka Real Estate Regulatory Authority (K-RERA), mandated to ensure transparency and accountability in property transactions to safeguard home buyers, is facing criticism. Several purchasers are voicing their dissatisfaction with the authority’s operations, leading one distressed buyer to file a complaint with the Karnataka State Human Rights Commission (KSHRC). Dhananjaya Padmanabhachar, a resident of Sobha Arena Apartment in Thalaghattapura, lodged the complaint due to K-RERA’s alleged procrastination in issuing an order related to his case concerning deficiencies in the Sobha Arena Project. In his grievance, Padmanabhachar mentioned being a buyer of a unit in the Sobha Arena Apartments. “I…

IndustryLatest Stories

Ajmera Realty Achieves ₹108 Crore Sales in Q1 FY26

NEW DELHI: Ajmera Realty & Infra India has reported first-quarter sales of ₹108 crore for FY26, with 63,244 sq ft sold. Although the performance remained stable, it faced challenges due to project launch delays caused by regulatory issues affecting the sector. The company experienced a 42% year-on-year increase in collections, reaching ₹234 crore in Q1 FY26, attributed to efficient execution and disciplined cash flow management. The Mumbai-based developer disclosed that key project launches were postponed because of delays in obtaining necessary permits, a challenge that has also impacted other industry players. Nevertheless, they are actively collaborating with authorities to address…

IndustryLatest Stories

Puravankara Q1 FY26 Pre-sales Reach ₹1,124 Crore

NEW DELHI: Puravankara has announced pre-sales of ₹1,124 crore for Q1 FY26, marking a 6% year-over-year increase, despite no new project launches this quarter. This achievement is driven by a 9% increase in average price realization, now at ₹8,988 per sq ft, complemented by consistent sales across existing projects. Sales volume reached 1.25 million sq ft, with collections amounting to ₹857 crore. The company is enhancing its development pipeline, adding projects with a total projected gross development value (GDV) of ₹3,100 crore. This includes the redevelopment of eight housing societies in Chembur, Mumbai, covering four acres and offering over 1.2…

IndustryLatest Stories

Puravankara to Co-Develop 5.5 Acres in East Bengaluru

Representative image created by AI NEW DELHI: Puravankara Group has announced a joint development on a 5.5-acre land parcel in Balagere, East Bengaluru, with a projected gross development value (GDV) exceeding ₹1,000 crore. This parcel includes a total saleable area of 0.83 million square feet, with the project expected to launch within six to nine months. According to Mallanna Sasalu, CEO-South of Puravankara, “We anticipate launching the project in the next 6-9 months, and are confident it will enhance our growing portfolio.” Earlier in the year, the company acquired a 3.63-acre site on Kanakapura Road, valued at over ₹700 crore.…