Tag: Bengaluru

CommercialLatest Stories

Brigade Group and Bain Capital to Develop 2M Sq Ft in Bengaluru

Representative AI image NEW DELHI: Brigade Group and Bain Capital are set to develop a mixed-use project in Whitefield, Bengaluru. The development will be executed through a 50:50 joint venture between the two entities, with a total investment of around ₹2,200 crore on an approximately 11-acre site. The integrated project is projected to encompass around two million square feet, featuring grade-A office space and a five-star hotel managed by an international brand. Recently, the company acquired a 5.72-acre land parcel in Osman Nagar, Hyderabad, at a price of ₹44 crore per acre. It plans to establish a residential project on…

Latest StoriesRera

RERA Paves Way for Claims Against Bengaluru Development Body

BENGALURU: The Bangalore Development Authority (BDA) may soon face additional compensation claims, as several allottees from the Nadaprabhu Kempegowda Layout (NPKL) recently secured favorable rulings from the Real Estate Regulatory Authority (RERA). By April, site owners had lodged 38 complaints against the BDA, with about 30 of those already settled by RERA. Most complaints were centered around compensation for delays in providing essential amenities such as roads, water, drainage, and electricity connections. The extensive housing project spans approximately 29,000 plots, located between Mysuru Road and Magadi Road in the Yeshwantpur assembly constituency. The completion delays have put more than 10,000…

CommercialLatest Stories

ICICI Pru Alternatives Acquires RMZ Office Assets for ₹2,600 Cr

MUMBAI: ICICI Prudential Alternatives has purchased two Grade A office properties from the RMZ Group in Bengaluru and Pune for approximately ₹2,600 crore, thereby enhancing its portfolio in income-generating commercial real estate. The acquisition was made through the ICICI Prudential Office Yield Optimiser Fund, a ₹2,500 crore initiative targeting completed and pre-leased office spaces in major Indian markets. The Bengaluru property, EcoWorld 21, is situated on the Outer Ring Road, the largest office micro-market in the country and a center for global capability centers (GCCs). This facility encompasses around 675,000 sq ft, leased to a variety of multinational companies with…

Latest StoriesRegulatory

Karnataka HC: Compliance with Safety Norms Essential for Buildings

BENGALURU: The Karnataka High Court has ruled that high-rise residential buildings, including compact or “pocket” apartments, cannot be permitted if they pose a public safety risk, particularly to their occupants and nearby residents. A division bench, consisting of Justice DK Singh and Justice TM Nadaf, made this determination while dismissing a writ appeal from a Bengaluru real estate developer regarding compliance with fire safety setback requirements. The appeal, filed by Vishnu Sri Builders and Developers, contested an earlier order from a single judge about a modified building sanction plan for an apartment project in Halagevaderahalli, Rajarajeshwari Nagar. The dispute stemmed…

Latest StoriesRegulatory

Karnataka HC Denies Builder’s Appeal on Fire Safety Violations

BENGALURU: High-rise buildings containing compact “pocket” apartments, irrespective of their luxury features, cannot remain operational if they present any danger to public safety—especially for residents and neighboring areas. This ruling came from the high court while rejecting the writ appeal submitted by Vishnu Sri Builders and Developers, Bengaluru. The court emphasized that private interests must be secondary to public welfare and the common good. A panel of Justices DK Singh and TM Nadaf noted that regulatory actions by local authorities are justifiable when necessary to preserve public health and safety. On September 3, 2025, a single bench ordered that the…

IndustryLatest Stories

Shankarapuram Project Faces Alleged Norm Violations in Bengaluru

BENGALURU: Incidents of norm violations during building construction are becoming increasingly prevalent in the city, raising concerns about the accountability of civic authorities overseeing development. The engineers of the City Corporation are tasked with inspecting construction sites to ensure compliance with building bye-laws and approved plans at various stages. The most recent case involves a building under construction on Ranga Rao Road, Shankarapuram, within the Kempegowda Nagar Sub-Division of Bengaluru Central City Corporation, allegedly in violation of regulations. Construction reportedly commenced in February, with concerns arising when concrete pillars began to obstruct a nearby drain, threatening public infrastructure. The Shankarapuram…

IndustryLatest Stories

Birla Estates Achieves ₹8,136 Crore in FY26 Bookings

NEW DELHI: Birla Estates, a wholly-owned unit of Aditya Birla Real Estate, has reported a booking value of ₹8,136 crore for FY2025-26, marking a 23.5% increase in collections year-over-year. The National Capital Region (NCR) was the top contributor to the company’s sales, with Bengaluru following as the second-largest market. The Mumbai Metropolitan Region (MMR) also experienced growth, with new projects launched in Thane and a new redevelopment initiative in Khar West. In Pune, new launches fueled growth, benefiting from consistent demand in residential projects. During FY26, the company introduced eight projects across four regions. Published On Apr 23, 2026 at…

IndustryLatest Stories

Bengaluru: City Corporations Can Buy Properties for Tax Recovery

BENGALURU: As property tax defaulters continue to disregard multiple notices and auction alerts, the Greater Bengaluru Authority (GBA) is considering a new strategy. Officials are looking into the option of municipal corporations buying these properties at their guidance value to recoup overdue taxes. In the past, legal actions such as issuing demand notices, seizing properties, and conducting public auctions have been implemented to recover debts. However, despite these efforts, few property owners opted to comply, and auctions often attracted no bidders, resulting in unmet revenue expectations. Consequently, authorities are now contemplating the direct acquisition of properties as a last resort.…

CommercialLatest Stories

Brookfield India REIT Secures ₹2,600 Crore in Placement

NEW DELHI: Brookfield India Real Estate Trust (Brookfield India REIT) has successfully raised around ₹2,600 crore through an institutional placement of units, which includes a ₹1,125 crore investment from 360 ONE Asset in one of its prominent office assets located in Bengaluru. According to a regulatory filing, the REIT allocated over 8.04 crore units to eligible institutional investors at an issue price of ₹323 per unit, which is a 2.1% discount compared to the floor price of ₹329.94 per unit. In another development, Arliga Ecoworld Business Parks, a special purpose vehicle (SPV) of Brookfield India REIT, completed the equity shares…

CommercialLatest Stories

Bengaluru Metro Pink Line to Boost 5-7 Million Sq Ft Office Demand

File Photo NEW DELHI: Bengaluru’s growing metro network, especially the soon-to-be-launched Pink Line and the recently inaugurated Yellow Line, is predicted to spur a demand for 5-7 million sq ft of office space over the next two years, according to a report by Colliers. The demand is expected to be focused in key micro-markets including central business districts (CBD), secondary business districts (SBD), and peripheral areas like Electronic City, facilitated by enhanced connectivity and shorter commute times. The report highlights that a similar amount of new Grade A office space, around 5-7 million sq ft, is anticipated to be developed…