Tag: Bengaluru

IndustryLatest Stories

Blackstone to Acquire Majority Stake in Ritz-Carlton Bengaluru

BENGALURU | MUMBAI: US investment firm Blackstone is set to acquire up to a 55% stake in the Ritz-Carlton Bengaluru from Nitesh Land. Sources indicate that Blackstone’s stake acquisition of 51-55% could cost approximately ₹600-700 crore, valuing the 277-room luxury hotel between ₹1,200 and ₹1,400 crore. The hotel, managed under the Ritz-Carlton brand by Marriott International, generated earnings before interest, taxes, depreciation, and amortisation of ₹105 crore for FY25. “Blackstone will purchase the stake in Nitesh Residency Hotel, the owning entity. The agreement is signed and expected to finalize within this quarter,” shared an anonymous source. Post-transaction, Nitesh Shetty, founder…

Latest StoriesRera

Karnataka RERA Orders Registration of Delayed Bengaluru Layouts

BENGALURU: In a significant development for homebuyers who have awaited possession of plots for nearly a decade, the Karnataka Real Estate Regulatory Authority (K-Rera) has ruled that the Bangalore Development Authority (BDA) must be classified as a “promoter” under the Real Estate (Regulation and Development) Act, 2016. K-Rera has instructed the BDA to register the long-overdue Nadaprabhu Kempegowda Layout (NPKL) within two weeks and to justify why penalty proceedings should not be initiated for selling sites without the necessary Rera registration. The ruling, issued on November 7 by a two-member bench, followed multiple complaints from allottees who claimed that the…

InfrastructureLatest Stories

11 Illegal Buildings in Bengaluru Scheduled for Demolition

BENGALURU: Following numerous alerts regarding extensive building violations, the Bengaluru East City Corporation (BECC) has initiated the demolition of 11 illegal structures that deviate significantly from their approved plans. As per the additional commissioner (development), a building in Whitefield with several unauthorized floors is presently being demolished. “The demolition is progressing slowly as it is being conducted manually,” the official commented. Recently, the East Corporation carried out a survey of over 600 under-construction buildings, issuing notices under the Karnataka Town and Country Planning Act, 1961. While many cases are currently in litigation or postponed due to court stay orders, the…

InfrastructureLatest Stories

East Bengaluru Residents Fear G+5 Buildings Will Collapse Road

BENGALURU: Residents of Nanjappa Layout in Kalkere, part of Bengaluru East City Corporation, have expressed concerns about unauthorized G+5 apartment constructions on an 18-foot road. They allege that builders are breaching height limits and safety regulations, resulting in a strain on basic infrastructure and an invasion of their once peaceful neighborhood. Residents have reported that despite numerous complaints—both verbal and written—to the Greater Bengaluru Authority (GBA), there has been no substantial action against the offenders. One local resident stated, “Barricades have been erected in our compound. One building started two years ago, while another began seven months ago. We’re suffering…

IndustryLatest Stories

Puravankara’s Q2 FY26 Net Loss Expands to ₹43 Crore

NEW DELHI: Puravankara has reported a net consolidated loss after tax of ₹42.99 crore for the quarter ending September 30, 2025, compared to a loss after tax of ₹17.06 crore for the same quarter last year, as stated in a filing to the BSE. The company’s net consolidated total income for Q2 FY26 reached ₹662.73 crore, marking a 27.53% increase from ₹519.68 crore recorded in the same quarter of the previous year. Ashish Puravankara, managing director, stated, “In Q2 FY26, we maintained strong growth, driven solely by sustainable sales, achieving pre-sales of ₹1,322 crore and collections of ₹1,047 crore, both…

Latest StoriesResidential

Bengaluru East Orders 160+ Illegal PGs to Comply by Nov 5

BENGALURU: The Bengaluru East City Corporation has initiated a significant campaign against unauthorized paying guest (PG) accommodations, uncovering 165 unlicensed establishments through routine ward inspections. These inspections, carried out by health officials across all wards, revealed a considerable number of the 1,452 PGs operating within the corporation limits were functioning without the required trade licenses or safety compliance. The civic body issued a final public notice urging PG owners to obtain licenses within seven days to avoid legal repercussions, including penalties and potential sealing of their properties. The deadline is set for Wednesday. Violations include operating in residential zones without…

CommercialLatest Stories

Brookfield India REIT to Buy 7.7M sq ft Park for ₹13,000 Crore

NEW DELHI: Brookfield India Real Estate Trust (BIRET) announced plans on Tuesday to acquire 7.7 million sq ft of commercial properties in Bengaluru for Rs 13,125 crore as part of its business expansion. The acquisition will be treated as a related party transaction and is expected to be conducted at arm’s length, as stated by the company. In its regulatory filing, BIRET disclosed that the Board of Directors of Brookprop Management Services Pvt Ltd, the trust’s manager, approved the acquisition of up to 100% of the issued and paid-up equity share capital of Arliga Ecoworld Business Parks Pvt Ltd for…

Latest StoriesResidential

Dispute Resolution for Bengaluru Property Khata Clarity

BENGALURU: The long-anticipated scheme for issuing A Khatas to B Khata properties was officially launched on November 1, coinciding with Kannada Rajyotsava. The Deputy Chief Minister labeled it a gift to Bengaluru’s citizens. However, the rollout raises concerns for genuine property owners who have fought to protect their assets from land mafia and fraudulent developers. Many, including Union Minister for Steel HD Kumaraswamy, have criticized the state government for imposing a 5 percent fee based on the property’s SR value to issue A Khatas for B Khata properties, in addition to a nominal Rs 500 application fee. Kumaraswamy pointed out…

CommercialLatest Stories

Qualcomm India Leases 256,000 Sq Ft Office in Bengaluru

Qualcomm India has secured a lease for 256,000 square feet of office space in Bengaluru, marking another significant move for the technology behemoth in India. A lease document obtained from Propstack indicates that this deal, established with Bagmane Developers Private Limited at Constellation Business Park – Virgo, commenced on October 1, 2025. It spans the 5th, 6th, 7th, and 11th floors of this premium commercial facility, situated in one of Bengaluru’s prime tech areas. The agreement details a five-year lease with a rental rate of ₹113 per square foot, amounting to ₹2.89 crore monthly and a total commitment of ₹184…

IndustryLatest Stories

Shriram Properties Partners on Five-Acre Project in South Bengaluru

NEW DELHI: Shriram Properties (SPL) has entered into a joint development agreement (JDA) for a five-acre land parcel located on Bannerghatta Road in South Bengaluru. According to Akshay Murali, Vice President (Business Development) at the firm, “Bannerghatta Road offers excellent connectivity, a vibrant social ecosystem, and tranquil green surroundings, making it perfect for discerning homebuyers who desire both exclusivity and convenience.” The company aims to create a villa community with an estimated gross development value (GDV) of over ₹350 crore. The project is anticipated to launch in FY26. Published On Nov 3, 2025 at 02:00 PM IST Join a community…