Tag: Bengaluru

Latest StoriesRegulatory

Bengaluru Court Freezes Site Over Alleged Forged Land Docs

BENGALURU: The Land Grabbing Prohibition Special Court has issued a temporary injunction halting construction work by a well-known builder in Chikkabanahalli village, Bidarahalli Hobli, Bengaluru East Taluk. The court also instructed the Deputy Commissioner of Bengaluru Urban and the Bengaluru East Taluk Tahsildar to provide a status report. The injunction was granted based on a complaint by social activist Paramesh, who alleged the builder encroached on government land and pathways using a fraudulent document purportedly issued by the Deputy Commissioner of Bengaluru Urban. The court’s order stated: “We issue a temporary injunction against Respondent No. 1 and any related parties,…

CommercialLatest Stories

Smartworks Leases 1.68 Lakh Sq Ft in Kolkata; 91Springboard Expands

Representative image NEW DELHI: Smartworks Coworking Spaces (Smartworks) has signed a lease for 1.68 lakh sq ft in Kolkata with a leading global provider of information technology, consulting, and business process services. The IT firm’s new office will be set across two locations, Victoria Park and Mediasiti, both situated in Salt Lake City, Sector V. The transaction was facilitated by JLL India as the advisory partner. Currently, the company manages a portfolio of 14 million sq ft across 14 cities. 91Springboard expands with over one lakh sq ft in Bengaluru and Chennai 91Springboard has introduced two new hubs: one in…

Latest StoriesResidential

Minister vows relief for rural properties in Bengaluru

BENGALURU: Following the state government’s easing of the Supreme Court-mandated Occupancy Certificate (OC) rule for property owners within Greater Bengaluru limits, there is now hope for thousands of homeowners in gram panchayat areas as well. During a meeting with Energy Minister KJ George, Bengaluru’s MLAs and MLCs requested an extension of the same exemption to panchayat areas, particularly those on the outskirts of GBA. The minister assured the legislators that relief for these residents would be forthcoming. Yeshwanthpur MLA ST Somashekhar highlighted the challenges faced by citizens, noting that much of Bengaluru’s real estate development is occurring in panchayat-governed areas.…

Latest StoriesRegulatory

Illegal Khata Scam: 6 Bengaluru Officials Suspended

BENGALURU: A significant cleanup effort was triggered within the Greater Bengaluru Authority (GBA) following a comprehensive complaint by resident Mohan Babu M. This led to the suspension of six officers and staff from the Begur sub-division for allegedly creating 128 illegal vacant-land khatas. The suspended individuals include assistant revenue officers Suresh, Hemanth Kumar, and Narasimhalu, along with revenue officer Shantesh from Bommanahalli, and second division assistants Bhagyashree and Balalingaraju. Concerns first arose when Mohan Babu contacted the GBA on April 21, 2025, reporting suspicious khata entries related to survey number 31/2 in Naganathapura village, Bengaluru South taluk. He claimed that…

CommercialLatest Stories

Embassy REIT to invest ₹3,700 crore in 7.2 million sq ft office project

NEW DELHI: Embassy Office Parks REIT (Embassy REIT), managing a vast 51 million sq ft office portfolio with a 93% value occupancy rate and 40.9 million sq ft of income-generating assets, is gearing up for its next expansion phase. This includes a pipeline of ₹3,700 crore in ongoing construction, scheduled for completion over the next three to four years. The REIT has 7.2 million sq ft currently in development that is projected to yield approximately ₹630 crore in net operating income (NOI). Four months into his role, CEO Amit Shetty emphasizes the need to enhance growth strategies through asset upgrades,…

CommercialLatest Stories

Embassy REIT buys Bengaluru office for ₹8,520 million

NEW DELHI: Embassy Office Parks REIT has signed definitive agreements to acquire a 0.3 million sq ft office property within Embassy GolfLinks Business Park in Bengaluru. The transaction is valued at ₹8,520 million. This grade-A asset is completely leased to a leading global investment firm, ensuring long-term cash flow visibility. The acquisition yields a net operating income (NOI) of approximately 7.9%, which is favorable compared to the REIT’s trading cap rate of 7.4% in Q2 FY2026, according to the company. Amit Shetty, CEO of the company, stated, “With a fully leased, long-term asset backed by a prominent global investment firm,…

IndustryLatest Stories

Address Maker Raises ₹200 Crore from AI Growth Partnership

NEW DELHI: Address Maker, based in Bengaluru, has announced a partnership with AI Growth. Under this alliance, AI Growth, via its affiliated companies, will provide a rolling capital framework of ₹200 crore to assist Address Maker in land acquisitions, joint development agreements (JDA), and project financing needs. Khushru Jijina from Address Maker remarked, “Our company has successfully delivered 6.7 million sq ft of residential apartments, villas, commercial spaces, and plotted developments in Bengaluru, with an additional 5.2 million sq ft currently in the pipeline.” Published On Dec 3, 2025 at 10:15 AM IST Join a community of over 2 million…

IndustryLatest Stories

Apartment Owners Urge Update to Karnataka Law

BENGALURU: The Bangalore Apartments Federation (BAF), representing over 1,400 Resident Welfare Associations (RWAs), has issued a firm ultimatum to the State Government, demanding the introduction and enactment of the Karnataka Apartment Ownership and Management Act (KAOMA) during the upcoming Belagavi Assembly Session on December 2. BAF advocates for the rights of more than 350,000 households and around 1.5 million residents, stressing the urgent need to update the outdated Karnataka Apartment Ownership Act of 1972. They argue that this update is crucial to mitigate the administrative disarray and legal disputes stemming from unclear ownership and management rights. At a press conference…

CommercialLatest Stories

Bengaluru to Add 25M Sq Ft Office Space in H2 FY27: ICRA

NEW DELHI: Bengaluru is set to see approximately 25 million sq ft of new office space coming online in the latter half of FY27, with about 25% already pre-leased. Despite a forecast of 16-17 million sq ft of new space for FY26 and FY27, occupancy rates are expected to reach 91-91.5% by March 2026 and 92-92.5% by March 2027, driven by ongoing leasing activity, according to ICRA’s latest report. In FY25, the city reported 16.3 million sq ft of fresh Grade-A office supply, alongside 8.4 million sq ft in H1 FY26, compared to net absorption figures of 18.4 million sq…

IndustryLatest Stories

No Construction Without Plinth Marking in Bengaluru, Say Officials

BENGALURU: Aiming to address building plan violations and unauthorized constructions, the Bengaluru Central City Corporation has enacted a comprehensive order. This mandates plinth-line marking, plan verification, and time-constrained demolitions for all constructions within its jurisdiction. According to Commissioner Rajendra Cholan, “Under the new guidelines, construction work cannot commence without obtaining the approved ‘building plinth-line marking.’ Town-planning officials are required to mark foundation boundaries within 30 days of plan approval and issue a foundation certificate before any construction can proceed.” He further mentioned, “Senior planning officials have been tasked with ensuring compliance with this process. To enhance transparency, approved building plans…