Tag: Bengaluru

Latest StoriesResidential

Bengaluru: Bescom Extends OC Relief for Pre-May 31 Buildings

BENGALURU: After days of speculation, Bescom has provided significant relief to homeowners regarding occupancy certificate (OC) requirements. The power utility has announced that residential properties up to 2,400 sqft within the Greater Bengaluru Authority will no longer need an OC to secure a permanent electricity connection, regardless of whether they applied before May 31, 2026. This decision expands the state government’s recent easing of OC regulations and resolves confusion caused by earlier stipulations that seemed to limit this benefit to applications submitted before May 31. The confusion stemmed from the Karnataka government’s announcement, following Chief Minister DK Shivakumar’s directive, which…

Latest StoriesResidential

Govt Offers One-Time Relief on OCs for Bengaluru Homeowners

BENGALURU: The Karnataka government has issued a directive exempting residential buildings up to Ground plus three floors or stilt parking plus four floors, built on plots of up to 2,400 sq. ft, from obtaining occupancy certificates for electricity connections within GBA limits. The order, dated June 5, follows the decision made at the first cabinet meeting chaired by Chief Minister D K Shivakumar on June 3. This one-time exemption applies to buildings, allowing for a 20 percent variation, as long as they were completed and applied for electricity connections by May 31, 2026, according to the order. To confirm completion…

CommercialLatest Stories

Incuspaze Purchases iKeva

NEW DELHI: Incuspaze, a provider of managed workspaces, has completed a 100% acquisition of iKeva, a workspace operator with locations in Hyderabad and Bengaluru. This strategic move is expected to contribute approximately ₹100 crore to the company’s revenue. iKeva operates 18 centers, totaling five lakh square feet across Hyderabad and Bengaluru. Incuspaze plans to expand its office space by an additional five lakh square feet by FY27. The company aims for a revenue target of ₹1,000 crore by FY28–29 and is set to prepare for an IPO within the next 24 to 36 months. Published On Jun 8, 2026 at…

Latest StoriesResidential

OC Exemption for Power Connection Extended to 2,400 Sq Ft Buildings

BENGALURU: Just days after Chief Minister DK Shivakumar unveiled plans to ease occupancy certificate (OC) norms for electricity connections, the government has broadened these exemptions to include a wider range of residential buildings within GBA limits. According to the new directive, residential buildings on plots of up to 2,400 sqft, with an additional allowance of up to 20%, will not require an OC from municipal corporations or town planning authorities to obtain electricity connections. The exemption applies to residential structures up to four stories high, including ground+3 or stilt parking plus four floors within GBA jurisdiction. This initiative aims to…

Latest StoriesRegulatory

Karnataka HC Supports Land Acquisition for Banashankari VI Stage

BENGALURU: In a significant development for the Bangalore Development Authority (BDA) and site allottees, the Karnataka High Court has upheld the acquisition of specific land parcels in Hemmigepura and Ganakallu villages located in Kengeri hobli for the Banashankari VI Stage project. A division bench consisting of Justices DK Singh and S Rachaiah delivered the ruling, overturning a previous decision made by a single bench on January 27, 2025. The court emphasized that once land is acquired by the state government free from all encumbrances, there is no basis for challenging the acquisition. It deemed the petition as a significant misuse…

Latest StoriesResidential

Karnataka Sees Rise in Women’s Home and Land Ownership

Representative AI image BENGALURU: The percentage of women owning houses and land in Karnataka has nearly doubled over the past five years, indicating a shift in family decision-making and attitudes towards wealth and security. This trend follows a rise in women’s investments in property, either independently or collectively. According to the National Family Health Survey-6 (NFHS) conducted in 2023-24, approximately 29.5% of households in Karnataka have at least one female member who owns a house and/or land, either independently or jointly. This marks a significant increase from 16.2% in the previous NFHS-5 (2019–21). Notably, female/joint ownership in rural areas stands…

CommercialLatest Stories

Disney India Leases 175,000 Sq Ft Office in Bengaluru

Representative AI Image MUMBAI: Disney (India) has secured approximately 1.75 lakh sq ft of office space in Bengaluru’s Bellandur area via a long-term lease, highlighting the ongoing demand for premium office spaces from multinational companies in India’s largest office market. With the agreed rental rates and a 15% escalation after three years, Disney’s total rental obligation over the five-year lease term is projected to be around Rs 127.84 crore, effective from February 1. The company has leased 1,74,959 sq ft across the sixth and seventh floors of RMZ Ecoworld Series 20, owned by Vismaya Infrastructure. The monthly rental is set…

Latest StoriesRegulatory

SC urges Karnataka HC to swiftly resolve ED-Empire East dispute

NEW DELHI: The Supreme Court has urged the Karnataka High Court to quickly resolve ongoing petitions involving Embassy East Business Park Pvt Ltd, while choosing not to intervene in an interim order currently in effect from the High Court. A Bench comprising Justice Dipankar Datta and Justice Augustine George Masih issued this directive while addressing a Special Leave Petition presented by the Enforcement Directorate (ED) in relation to an interim order concerning Embassy East Business Park Pvt. Ltd. and others. The Bench remarked that the criminal petition and associated matters are already scheduled for hearing before the Karnataka High Court…

IndustryLatest Stories

Puravankara to Co-Develop 11.23-Acre Site in North Bengaluru

NEW DELHI: Puravankara has entered into a joint development agreement (JDA) for an 11.23-acre land parcel in Doddagubbi, North Bengaluru, with an estimated gross development value (GDV) of ₹1,100 crore. The forthcoming residential apartment project will encompass approximately 0.74 million sq ft. Ashish Puravankara, Managing Director of Puravankara, stated, “FY26 marked a significant milestone for us, with record annual sales reaching ₹7,407 crore, representing a 55% year-on-year growth. As we strive towards our FY27 sales target of ₹11,200 crore, our focus will be on enhancing our presence in markets characterized by strong infrastructure, job accessibility, and sustained demand.” In FY26,…

IndustryLatest Stories

Shriram Properties aims ₹3,750-4,000 crore pre-sales by FY27; Pune set to surpass Chennai

NEW DELHI: Shriram Properties aims for pre-sales between ₹3,750 and ₹4,000 crore in FY27. This strategy includes new launches across Bengaluru, Chennai, Pune, and Kolkata, as the developer seeks to solidify its hold in current markets before expanding further. For FY26, the internal pre-sales target was set at ₹2,750 crore, and the company anticipates support for growth from delayed launches from the previous year. The company is intensifying its focus in Pune, adding around three million sq ft of new projects since its initial launch in the city. Murali Malayappan, Chairman & Managing Director, along with Gopalakrishnan J, Executive Director…