Tag: Bengaluru

IndustryLatest Stories

Bengaluru body plans land auctions for ₹1,800 crore boost

Representative image created by AI The Bengaluru Development Authority (BDA) is set to generate up to ₹1,800 crore through the auction of prime urban land, enhancing efforts to monetize land assets and increase revenue. This initiative is anticipated to draw competitive bids from top real estate developers, especially amid ongoing land shortages and high demand in metropolitan areas. Part of the monetization strategy includes BDA’s planned e-auction for three substantial commercial land parcels in Konadasapura, located along the rapidly developing Whitefield–Hosakote Road corridor in east Bengaluru. The largest parcel covers over 52 acres (approximately 2.13 lakh sq. metres), with two…

Latest StoriesRegulatory

Assembly passes 12 bills, including Karnataka rent changes

BELAGAVI: On Tuesday, the state Assembly approved 12 bills, including the Greater Bengaluru Governance (Second Amendment) Bill. This bill allows all MPs and MLAs who reside in Bengaluru and are on the city’s electoral roll to become members of the Greater Bengaluru Authority (GBA). Deputy Chief Minister D K Shivakumar, responsible for Bengaluru’s development, stated, “Public representatives who are voters in Bengaluru were previously excluded. Now, we will include Rajya Sabha member Sudha Murty, Union Finance Minister Nirmala Sitharaman, and certain areas from Chikkaballapura Lok Sabha constituency, represented by Dr K Sudhakar, in the GBA.” He added that the amendment…

Latest StoriesResidential

Rental Scheme: Dodgy Agreements Uncover Tax Evasion Plot

BENGALURU: A property management company is under scrutiny for allegedly using dual agreements to facilitate hidden deposits, unpaid rents, and questionable HRA claims, ensnaring property owners and sub-tenants. Residents of Bengaluru have long been aware of the risks posed by unscrupulous tenants and property management firms that exploit unsuspecting landlords. Recent revelations expose another scam that appears to defraud the government by misrepresenting claims for house rent allowance (HRA) exemptions. A homeowner who wishes to remain anonymous shared their experience with Catena Homes, stating, “I only received rent for a few months after entering an agreement with them. When I…

Latest StoriesResidential

Buffer Zone Dispute Leaves Bengaluru Site Owners in Limbo

Here’s a rewritten version of the content: BENGALURU: Over 1,500 families who purchased plots in the Banashankari 6th Stage layout, developed by the Bangalore Development Authority (BDA), are stuck in limbo for years. A sudden claim by the forest department regarding forest land has halted construction and sales, leaving many unable to develop their properties despite holding valid allotments, tax receipts, and long-standing ownership documents. Established in 2001, Banashankari 6th Stage consists of over 20,500 plots across 14 blocks. The current contention focuses on the 3rd, 4th, and 5th blocks, where the forest department has imposed construction restrictions, asserting that…

CommercialLatest Stories

Concorde Invests ₹125 Crore to Develop Mayfair Commercial Block

NEW DELHI: Concorde, based in Bengaluru, has made a ₹125 crore investment to establish a commercial block at Concorde Mayfair, an integrated development positioned on Bellary Road in Yelahanka. Covering a super built-up area of about 2.51 lakh sq ft, this commercial block is projected to generate annual revenues of approximately ₹30 crore from operations. The structure features retail space on the ground and first floors, while the second to tenth floors will be occupied by office spaces. Additionally, there are dedicated parking facilities in two basements. The company unveiled Concorde Mayfair in June 2024, which spans 3.35 acres and…

Latest StoriesRegulatory

Income Tax Raids Brigade Enterprises’ Offices

Brigade Enterprises’ shares dropped by as much as 2%, reaching a day low of Rs 868.10 on the BSE on December 15. This followed the announcement that the Income Tax Department had begun search operations at its registered office and other linked locations, which took place from December 9 to December 13. In an official exchange statement over the weekend, Brigade Enterprises confirmed that it and its officers have fully cooperated with the authorities, supplying all necessary information. The company emphasized that its business operations are running smoothly without any interruptions. Currently, the stock is trading at Rs 886, with…

IndustryLatest Stories

Residents allege builder is ignoring construction rules in Bengaluru

Representative AI image BENGALURU: Residents of a gated community on Gottigere Lake Road in south Bengaluru are expressing their outrage over the disruptions caused by the construction of a new residential project nearby. They reference a 2012 Karnataka High Court ruling that bans noisy construction work after 6 PM, claiming their repeated complaints have been disregarded. “Construction has persisted for nearly six months. Our apartment complex has four blocks, and Block D suffers the most. Many senior citizens live here, yet no action has been taken by the authorities despite our continuous complaints,” stated Srinath, a resident. In June, residents…

CommercialLatest Stories

Brookfield India REIT Secures ₹3,500 Crore for Growth, Debt Relief

NEW DELHI: Brookfield India Real Estate Trust (Brookfield India REIT) has successfully raised ₹3,500 crore through a qualified institutional placement (QIP) of units, representing one of the largest capital raises by an Indian REIT. The offering, which commenced on December 10, 2025, saw demand surpass three times the available amount. According to the disclosure, the REIT garnered over ₹10,900 crore in demand from both domestic and foreign institutional investors, resulting in the allotment of 10.94 crore units under the QIP. The funds raised will be utilized for portfolio expansion, including the planned acquisition of Ecoworld, a 48-acre, 7.7 million sq…

Latest StoriesRegulatory

Karnataka HC Supports Premium FAR Policy; Dismisses TDR Petitions

In a major ruling concerning urban development in Karnataka, the High Court has affirmed the State’s implementation of a Premium Floor Area Ratio (Premium FAR) under Section 18B of the Karnataka Town and Country Planning Act, 1961. The court dismissed two petitions submitted by landowners and Transferable Development Rights (TDR) holders who challenged the constitutional validity of the amendment and related notifications. The petitions were filed by landowners whose properties were previously acquired for public use, receiving TDR instead of monetary compensation. They contended that the introduction of Premium FAR enables developers to gain additional buildable rights from the government…

Latest StoriesRera

Karnataka RERA Chair: Reject Subpar Services, Citizens!

BENGALURU: Rakesh Singh, chairman of the Karnataka Real Estate Regulatory Authority (K-RERA), has warned citizens not to allow promoters to deceive them when purchasing real estate. He emphasized that they should not tolerate subpar services and can reach out to his organization for assistance in case of issues. Singh highlighted the significance of the Real Estate (Regulation and Development) Act, 2016, stating that it marked a pivotal change in India’s property landscape by providing buyers with a legal framework to safeguard their interests. He made these remarks at the RWA Excellence Seminar organized by Nemmadi.in in Bengaluru on Saturday, which…