Tag: Bengaluru

IndustryLatest Stories

Prestige Estates’ Q1 FY27 Net Profit Falls 13% to ₹271.40 Crore

NEW DELHI: Prestige Estates Projects has experienced a 12.9% drop in its net consolidated profit after tax, reporting ₹271.40 crore for the quarter ending June 30, 2026, down from ₹311.50 crore for the same period last year. The company’s net consolidated total income saw an increase of 14.9%, reaching ₹2,835.60 crore in Q1 FY27 compared to ₹2,468.70 crore in Q1 FY26. Sales recorded during the quarter amounted to ₹6,579.30 crore, a decline of 46% year-on-year. The Prestige Group’s share in sales was ₹6,126.60 crore, representing a 43% decrease. Collections rose by 6% year-on-year to ₹4,802.20 crore, with the group’s share…

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Brigade Acquires 2 Acres in Bengaluru; Prestige Develops 14.6 Acres in Thane

Representative AI image NEW DELHI: Brigade Group has purchased a two-acre land parcel on Kanakapura Road in South Bengaluru. The company plans to develop a premium residential project on this site, with an estimated gross development value (GDV) of around ₹400 crore. In a related announcement, Prestige Group revealed a new partnership to develop a residential project in Thane. The Thane project, which spans approximately 14.6 acres, is projected to have a GDV of ₹6,000 crore and a developable potential of over five million sq ft, expected to be developed in phases. Published On Jul 29, 2026 at 09:18 PM…

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Credai Calls for Double Soil Report Verification After Tower Tilt

Representative AI Image BENGALURU: Following the recent incident of a tilted apartment tower that revealed shortcomings in a geotechnical investigation report, the Confederation of Real Estate Developers’ Associations of India (Credai)-Karnataka chapter has proposed double verification of soil investigation reports as a best practice in its developers’ handbook. The recommendation is advisory and not mandatory, encouraging members to adopt it. Developers will be urged to have geotechnical investigation reports independently reviewed prior to foundation work to reduce errors in soil assessments, crucial for structural design and foundation planning. According to Credai officials, the handbook is regularly updated based on industry…

CommercialLatest Stories

Knowledge Realty Trust’s Q1 FY27 NOI Up 15% to ₹1,111.7 Crore

NEW DELHI: Knowledge Realty Trust reported a 15% year-on-year revenue increase to ₹1,243.10 crore for the quarter ending June 30, 2026. Its net operating income also rose by 15%, reaching ₹1,111.70 crore. The total net consolidated income amounted to ₹1,268.14 crore for Q1 FY27, with a net consolidated profit after tax of ₹250.79 crore. The board of directors at Knowledge Realty Office Management Services, responsible for managing Knowledge Realty Trust, has approved a distribution of ₹751.63 crore, translating to ₹1.695 per unit for the quarter. This distribution includes ₹408.85 crore (₹0.922 per unit) as dividends, ₹123.28 crore (₹0.278 per unit)…

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Bengaluru Tower Demolition Plan Triggers OC Debate

BENGALURU: The proposed demolition of an 18-storey apartment tower in southeast Bengaluru has sparked significant debate over the reliability of occupancy certificates (OCs) issued by the Greater Bengaluru Authority (GBA). The 49-unit structure at SNN Raj Etternia near Kudlu received its OC earlier this year but is now set for demolition following new geotechnical investigations that uncovered serious soil issues. While the developer assures that the remaining 14 towers in the 972-unit township are structurally sound, residents argue that this incident highlights critical concerns regarding the building approval and certification process. Urban planning expert Ashwin Mahesh noted that the situation…

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Bengaluru Authority Sets New Building Approval Fee Structure

BENGALURU: The Greater Bengaluru Authority (GBA) has released a new notification detailing the fee structure for building construction approvals under the GBA Act. This includes fees for plan approvals, revised plan approvals, and plinth certificates, which were previously charged under the BBMP Act and have now been re-established under the new legislation. According to the announcement, fees will be calculated based on the prevailing guidance value of the site and the total built-up area of the building, measured on a per square metre basis. The minimum guidance value for calculations will be set at Rs 50,000 per sqm. The inspection…

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Disputed Geotechnical Report in SNN Raj Etternia Case, Bengaluru

BENGALURU: The geotechnical investigation report prepared for SNN Raj Etternia is pivotal in the ongoing dispute between developer SNN Raj Corp and Nagadi Consultants regarding the cause of tilting in an 18-storey tower within the apartment complex. The affected tower is one of 15 in the 972-unit township located near Kudlu. SNN has asserted that the other 14 towers are structurally sound. Nagadi’s geotechnical report, dated September 2022, indicates that a section of the project site was previously a quarry filled with soil, debris, and other materials, which was factored into the investigation. During the investigation, varying subsurface conditions were…

Latest StoriesResidential

Strata Invests ₹96 Crore in Chennai, Bengaluru Housing Projects

Representative AI image NEW DELHI: Tech-enabled investment platform Strata has committed ₹96 crore to three RERA-approved residential projects in Chennai and Bengaluru, highlighting the increasing interest in private credit backed by Southern India’s real estate market. The investment comes as demand for capital in southern India grows, particularly for plotted developments. In Chennai, Strata has allocated ₹66 crore across two residential developments located in the Old Mahabalipuram Road (OMR) corridor. These investments are structured to yield targeted annual returns of approximately 16%, payable monthly or quarterly. The funding will contribute to a 1.75-acre apartment project in Semmancherry and a 3.21-acre…

CommercialLatest Stories

Large Office Deals Make Up 59% of H1 2026 Leasing: Report

Representative AI image NEW DELHI: In H1 2026, large office transactions (1 lakh sq ft and above) amounted to 28.2 million sq ft across India’s eight major cities, as reported by Knight Frank India. These sizable deals constituted 59% of a total leasing volume of 48 million sq ft during the same period. Bengaluru led the way with 10.1 million sq ft in large office deals, representing 72% of the city’s total leasing activity. Hyderabad and NCR followed closely, each recording 4.9 million sq ft in large office leases, accounting for 65% and 68% of their respective total leasing volumes.…

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Karnataka to Target Developers Overloading Power Grid

Representative image BENGALURU: A significant number of households may soon see improvements due to a crackdown on large apartment blocks and commercial projects that electricity officials claim are straining the city’s electrical network. Following complaints from resident welfare associations (RWAs), the government has opted to take action against developers of ‘self-execution (SE) projects’ who have neglected to establish required electrical infrastructure while consuming substantial power. The state’s energy department instructed the Karnataka Power Transmission Corporation Limited (KPTCL) on Friday to take measures against developers who have not set up dedicated substations and the necessary electrical infrastructure, as required by Karnataka…