Tag: Bengaluru

IndustryLatest Stories

Sobha Announces FY26 Net Profit of ₹193.40 Crore

NEW DELHI: Sobha has announced a remarkable net consolidated profit growth of 104.27% for the financial year 2025-26. The profit after tax reached ₹193.40 crore in FY26, compared to ₹94.68 crore in FY25, according to a filing with the BSE. The company’s net consolidated total income for FY26 was ₹5,383.76 crore, representing a 29.33% increase from ₹4,162.75 crore in FY25. In Q4 FY26, net consolidated total income surged by 59.74% to ₹2,029.92 crore, up from ₹1,270.73 crore in the same quarter of the previous year. Profit after tax in this quarter rose by 124.80% to ₹91.83 crore, compared to ₹40.85…

IndustryLatest Stories

Pushback on Bengaluru’s Proposed Building Bylaw Amendments

BENGLALURU: The Bengaluru East City Corporation has released a draft notification proposing significant updates to the Bengaluru City Corporation Building Bye-laws, 2003. These updates include provisions to regularize specific construction deviations from approved plans through the payment of compounding fees. Published on April 1, 2026, under the Greater Bengaluru Governance Act, 2024, this draft amendment is open for public feedback for 30 days before final consideration. Key proposed changes include the removal of existing regulations regarding ground rent. Notably, the draft intends to modify Bye-law 6.0 to allow the Commissioner to regularize violations in sanctioned plans when demolition is unfeasible,…

Latest StoriesRegulatory

Bengaluru body not a ‘promoter’: Petition in Karnataka HC

BENGALURU: The Bangalore Development Authority (BDA) has filed a writ petition with the Karnataka High Court, dated April 27 and registered April 29. The petition seeks clarification on whether the Real Estate (Regulation and Development) Act, 2016, is applicable to its residential layouts and schemes. The petition names the Union of India, the Karnataka government, and the Karnataka Real Estate Regulatory Authority (K-Rera) as respondents. BDA argues that it doesn’t meet the definition of a “promoter” as per Section 2(ZK) of the Act and thus should not fall under K-Rera’s jurisdiction. Additionally, BDA is requesting a declaration that the provisions…

Latest StoriesRegulatory

Bengaluru Government Buildings Targeted Over ₹473 Crore Tax Debt

BENGALURU: The Special Commissioner (Revenue) of the Greater Bengaluru Authority (GBA) has issued a circular instructing all Commissioners of five City Corporations to initiate actions for recovering outstanding property taxes and service charges from government-owned properties in their areas. NR Ramesh, a former leader in the BBMP Council, highlighted in a letter that government buildings owe property taxes and service charges totaling ₹473 crore and urged authorities to collect these pending amounts. According to Ramesh’s letter, “Government authorities have ignored their obligations, effectively cheating the GBA by failing to pay property taxes and service charges annually. He also attached documentation…

Latest StoriesResidential

Over 25 Lakh Bengaluru Properties Added to e-Khata System

BENGALURU: Karnataka Deputy Chief Minister D K Shivakumar announced on Friday that the state government has successfully integrated over 25 lakh properties into Bengaluru’s e-Khata system. The e-Khata serves as an electronic property certificate that keeps ownership details in an online database, promoting accuracy, transparency, and comprehensive coverage for property owners. During a press conference, Shivakumar, who also oversees Bengaluru’s administration, stated that of the 25 lakh properties under this system, more than 7,000 applications have already been processed. Further outreach efforts are being planned to reach those who still need their e-Khata. “Achieving 25 lakh e-Khatas is a remarkable…

CommercialLatest Stories

Concorde leases 140K sq ft to BHIVE; TEC adds 90K sq ft in Mumbai, Pune

NEW DELHI: Concorde, based in Bengaluru, has entered a leasing agreement with BHIVE Workspaces for 1.4 lakh sq ft of grade-A office space at Concorde Econex, valued at an annual rental of ₹16 crore. The new facility, located in Doddanekkundi, Whitefield, consists of a ground floor and four upper levels. This long-term partnership features a 15-year lease, allowing BHIVE to accommodate over 3,000 workstations. In another announcement, The Executive Centre (TEC) has revealed the addition of approximately 90,000 sq ft of workspaces in Mumbai and Pune. In Mumbai, TEC is set to launch two new centers: one at One BKC,…

InfrastructureLatest Stories

Karnataka OKs ₹18,000 Crore Township for Greater Bengaluru

BENGALURU: On Thursday, the Karnataka government approved the Rs 18,000-crore Greater Bengaluru integrated suburban township project, designed as a ‘work-live-play’ initiative. The sprawling 7,481-acre township will encompass the entire Bengaluru South district, including areas like Bidadi and Ramanagara. Approximately 6,650 acres of land will need to be acquired from private owners. The project will see the state government provide a guarantee for Rs 7,500 crore to be sourced from the housing finance institution Hudco. The remaining funds will come from the Bangalore Development Authority and the monetization of CA sites in the Bengaluru Metropolitan Region by leveraging sites with banks.…

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…