Tag: Bengaluru

IndustryLatest Stories

Nisus Finance Exits Bengaluru Project with 23% IRR in 2 Years

Nisus Finance, an alternate fund manager and urban infrastructure investment firm, has successfully exited Project High Cliff, a late-stage residential development in Bellandur, Bengaluru. This investment was made through rated, listed non-convertible debentures under its Real Estate Special Opportunities Fund-1 (RESO-1), yielding an Internal Rate of Return (IRR) of 23% over two years. Project High Cliff covers 1.4 acres with a saleable area of approximately 240,000 sq. ft., featuring 196 units in 1, 2, and 3 BHK configurations aimed at affordable and mid-income buyers. “High Cliff exemplifies a special situation where structured capital can create significant value — strong demand…

IndustryLatest Stories

Bengaluru body suggests strict fines for vacant properties

BENGALURU: The Bangalore Development Authority (BDA) is set to implement a one-time 10% non-construction fine for allottees who fail to build homes within three years of receiving their plots. Officials emphasized that the rule will be strictly enforced, with sale deeds not issued until construction is completed. This initiative primarily targets beneficiaries who have either neglected to build homes or engaged in illegal plot transfers, despite significant increases in land values. Notably, Arkavathy and Nadaprabhu Kempegowda Layout (NPKL) are exempt from this rule due to delays and incomplete infrastructure that hindered construction for allottees. Under the BDA scheme, plots were…

Latest StoriesRera

Karnataka RERA: Builders Must Insure Common Areas or Cover Repairs

BENGALURU: The Karnataka Real Estate Regulatory Authority (K-Rera) has issued a directive emphasizing that builders must insure common areas to avoid covering repair costs for disasters themselves. In a recent ruling, K-Rera instructed the developers of an apartment complex on Kanakapura Road to provide all insurance documentation for the project within 30 days, partially addressing a complaint regarding a fire incident that damaged the Block 4 clubhouse. The complaint arose from a fire on January 30, 2024, when resident Dhananjaya noticed smoke emanating from the clubhouse. The blaze destroyed the ladies’ washroom and sauna. Despite repeated requests for repair or…

InfrastructureLatest Stories

Bengaluru to Hire Urban Designers for City Development

Certainly! Here’s a rewritten version of the provided content: BENGALURU: In a significant development, the Greater Bengaluru Authority (GBA) will officially appoint urban designers and planners for the first time to enhance city infrastructure, including its roads, public spaces, and mobility networks. This initiative introduces specialized Urban Design Cells, signaling a transformative approach to urban planning in Bengaluru. Traditionally, issues like potholes, flooding, inadequate footpaths, and traffic chaos were often attributed to municipal shortcomings. However, experts have highlighted a more fundamental problem: GBA lacked trained professionals in urban design and planning. Many past engineering projects, conducted without design oversight, led…

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,…