Tag: Bengaluru

CommercialLatest Stories

Bagmane Prime Files for ₹4,000 Crore IPO

Representative AI image NEW DELHI: Bagmane Prime Office REIT, based in Bengaluru, has submitted its draft offer document to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) of up to ₹4,000 crore. This includes a fresh issue of units amounting to ₹3,000 crore and an offer for sale (OFS) of ₹1,000 crore by selling unitholders. The REIT, sponsored by Bagmane Realty and Infrastructure LLP, manages a premium portfolio of Grade A+ office business parks focused in key office areas of Bengaluru. It encompasses 20.3 million sq ft of total area with 19.6 million sq…

Latest StoriesResidential

Allottees seek amenities, cite design flaws in Kempegowda Layout

File Photo BENGALURU: While the Bangalore Development Authority (BDA) has expedited work on the Nadaprabhu Kempegowda Layout (NPKL) between Mysuru Road and Magadi Road, residents in III and IV Blocks have raised urgent concerns regarding “critical bottlenecks” that might hinder habitation if not resolved promptly. Allottees appreciate the enhanced pace of land acquisition and development under the current administration; however, they assert that the layout is still not suitable for living. Although several houses are built and more are under construction, foundational issues like inadequate infrastructure and unclear design are becoming significant obstacles. One major issue is the absence of…

Latest StoriesRera

Karnataka RERA Orders Builder to Refund with Interest

BENGALURU: Despite the actions taken by law enforcement and the Karnataka Real Estate Regulatory Authority (K-RERA), the issue of double sales continues to affect unsuspecting homebuyers. Many of these buyers are desperately seeking justice, with some hoping for relief from K-RERA, which has started issuing judgments that address prolonged complaints. In a ruling on December 22, 2025, the K-RERA addressed a complaint from Sudhir, a victim, ordering the respondents — Sri Vanishelters, LS Srinidhi, B Kenchappa Gowda, and G Vidyavathi — to reimburse Rs 32,94,816 with interest. The interest rate is based on the SBI’s marginal cost of funds-based lending…

Latest StoriesRegulatory

Karnataka HC: Registrar can void sale deed for illegal allotments

BENGALURU: In a landmark decision that could influence numerous cooperative housing cases, the Karnataka High Court has ruled that the additional registrar of cooperative societies has the authority to revoke even a registered sale deed if it stems from an illegal allotment by a cooperative society. Justice Suraj Govindaraj issued this ruling while rejecting a petition from Suresha, a Bengaluru resident who challenged the registrar’s power to intervene post-registration of a sale deed. The court clarified that after invalidating an illegal allotment, the registrar has the right to instruct the local sub-registrar to take necessary actions, but emphasized the importance…

Latest StoriesResidential

Bengaluru Residents Face Power Cuts Due to Vacant Flats’ Dues

BENGALURU: Residents of a high-rise apartment complex on Bannerghatta Road experienced a day-long power outage due to a dispute between the builder and the Bangalore Electricity Supply Company (Bescom). On Wednesday, Bescom disconnected the electricity for the apartment complex over unpaid dues totaling Rs 2 lakh. Residents of Disha Loharuka Solaris in Gottigere shared their concerns on social media, stating the power was cut because of unpaid dues from 30 empty flats, affecting all 150 households in the building. One resident, Binay Biswal, criticized Bescom for the blanket disconnection, suggesting that they should only cut power to the flats that…

InfrastructureLatest Stories

Bengaluru: Illegal Construction Persists in HAL III Despite HC Order

File Photo BENGALURU: Members of the HAL III Stage Taxpayers and Residents Association have expressed frustration over ongoing illegal constructions that violate local building norms. The association has contacted relevant authorities over 40 times since February 2025 to demand action but has yet to receive a reply. In light of what they describe as indifference from Bruhat Bengaluru City Corporation (BBCC) officials, the association has filed a writ petition in the High Court. During the hearing, the court instructed the BBCC Assistant Executive Engineer to issue notices to M/s Moonlight FNB Pvt Ltd regarding compliance with the sanctioned construction plan.…

IndustryLatest Stories

Karnataka-RERA Chief Urges Government to Clarify OC-CC Norms

BENGALURU: Rakesh Singh, chairman of the Karnataka Real Estate Regulatory Authority (K-Rera), has called on the state government to establish clear guidelines regarding the interpretation of occupancy certificates (OC) and completion certificates (CC), amidst growing concerns among homebuyers over regulatory ambiguity. In a comprehensive five-page letter, Singh highlighted that inconsistent interpretations of OC and CC across various laws are generating confusion and adversely impacting homebuyers in Bengaluru. Singh noted the differences in definitions of OC and CC in the RERA Act, the Karnataka Municipal Corporations (KMC) Act, the BBMP Act, and the newly implemented Greater Bengaluru Authority (GBA) Act. In…

IndustryLatest Stories

Puravankara Acquires 53 Acres in Bengaluru

Representative image NEW DELHI: Puravankara has acquired a 53.5-acre land parcel in Anekal Taluk, Bengaluru. Ashish Puravankara, the company’s managing director, stated, “This acquisition is part of our strategy to systematically enhance our launch pipeline with quality developable land across key micro-markets.” The newly acquired land in Attibele Hobli boasts a saleable area of 6.4 million sq ft, with a potential gross development value (GDV) exceeding ₹4,800 crore. Mallanna Sasalu, CEO – South, highlighted, “Prior to this acquisition, in H1 FY26, we added a total of 6.36 million sq ft of developable area in Bengaluru and Mumbai, translating to an…

Latest StoriesRera

Homebuyers Push for Stronger Karnataka RERA Enforcement

BENGALURU: The Karnataka Home Buyers’ Forum has urged the state government to enforce Section 17 of the Real Estate (Regulation and Development) Act, 2016. This is aimed at safeguarding the interests of home buyers. According to Section 17, promoters must execute a registered conveyance deed for the allottee, including the undivided share of common areas, and provide physical possession of the respective apartment, plot, or building. Additionally, the common areas must be handed over to the apartment association or the competent authority upon project completion. In a comprehensive letter addressed to the Greater Bengaluru Authority and the Urban Development Department,…

IndustryLatest Stories

Bengaluru: BDA, Forest Dept to Collaborate on Banashankari Land Dispute

BENGALURU: To address the ongoing dispute affecting numerous site owners in Banashankari 6th Stage, the BDA and the forest department will conduct a joint land survey in the coming weeks. This decision was made during a meeting held by the BDA on Wednesday, responding to persistent complaints from buyers and site allottees in this south Bengaluru layout. Officials determined that a new survey is essential since the previous one did not involve the forest department, resulting in conflicting claims regarding land extent and buffer zones. A survey conducted by the BDA in collaboration with the revenue department in September 2024…