Tag: Bengaluru

IndustryLatest Stories

Embassy Developments’ Subsidiary Ordered to Surrender 78 Acres in Bengaluru

Representative image NEW DELHI: Embassy East Business Park (EEBP), a subsidiary of Embassy Developments, has received an order from the Karnataka Industrial Areas Development Board (KIADB) to surrender possession of a 78-acre land parcel in Bengaluru within 30 days, according to a BSE filing by the company. The order, dated March 16, 2026, concerns land located in the Kadugodi Industrial Area, which EEBP has held under a lease-cum-sale agreement executed in June 2007, set to remain in effect until June 2029. KIADB has invoked provisions under section 34B of the Karnataka Industrial Areas Development Act, 1966, claiming a breach of…

CommercialLatest Stories

Embassy REIT Aims for 13M sq ft in Acquisitions to Boost Income

BENGALURU: Embassy Office Parks REIT, India’s first publicly listed real estate investment trust, is assessing a pipeline of 12-13 million sq ft, with around 4 million sq ft from its sponsor, as it aims to expand its portfolio and improve long-term income visibility. This decision comes after raising Rs 9,800 crore in capital during FY26 and establishing a Rs 4,000 crore development pipeline, positioning the REIT to acquire yield-accretive, income-generating Grade A assets. The trust’s real estate portfolio surpasses 50 million sq ft. “We are actively assessing a pipeline of approximately 12-13 msf… Inorganic growth will continue to be crucial…

Latest StoriesRera

Karnataka: 4th in India for RERA Complaints with 12,772 Cases

BENGALURU: Karnataka is emerging as a dynamic player in the Indian real estate market, demonstrated by an active project pipeline and increased engagement from homebuyers within the grievance-redressal system. The number of complaints registered under the Real Estate (Regulation and Development) Act (RERA) highlights the growing disputes that often accompany new developments. According to the latest RERA report, released on March 9 and covering data from 2016 to 2026, Karnataka ranks fourth in the country for complaints, with a total of 12,772 cases filed and 10,322 resolved, reflecting an over 80% resolution rate, nearly matching the national average. Ramachandra CH,…

IndustryLatest Stories

Karnataka Seeks Taller Building Norms Near Bengaluru Airports

File Photo BENGALURU: Deputy Chief Minister of Karnataka, DK Shivakumar, has requested the Centre to reevaluate and ease height restrictions for buildings near essential aviation facilities in Bengaluru, emphasizing their influence on urban development and real estate. Following his meeting with Union Civil Aviation Minister Kinjarapu Ram Mohan Naidu, Shivakumar stated that the state aims to have similar building height allowances as cities like Hyderabad and Mumbai, which permit taller structures, according to a government release. “We discussed raising the building height limits in Bengaluru. Builders are hesitant to invest in premium Floor Area Ratio (FAR) because of these restrictions.…

IndustryLatest Stories

Godrej Properties buys 20-acre site in Bengaluru

NEW DELHI: Godrej Properties (GPL) has completed the acquisition of a 20-acre land parcel in East Bengaluru, as reported in a filing to the BSE. The company intends to develop a premium residential project on this site, with an estimated revenue potential of around ₹1,350 crore. Additionally, GPL has recently acquired a 44-acre land parcel in Coimbatore through an outright purchase, aiming to develop a premium plotted residential project with a developable area of 1.1 million sq ft and an estimated revenue potential of ₹450 crore. This marks GPL’s entry into the Coimbatore market. Published on Mar 18, 2026 at…

CommercialLatest Stories

WeWork India to add 4,100 desks in Bengaluru with ₹60 crore

NEW DELHI: WeWork India Management has finalized two lease agreements in Bengaluru to enhance its flexible workspace offerings, adding over 4,100 desks across more than 246,000 sq ft of office space, as stated in a regulatory filing. The company has secured leases for 95,351 sq ft and 151,201 sq ft of space in separate transactions, with operations expected to commence by June 2026. WeWork plans to invest around ₹60 crore: ₹28 crore for the first facility and ₹32 crore for the second, funded through a combination of internal resources and debt. This expansion will introduce approximately 1,829 desks in one…

Latest StoriesRegulatory

ED Raids Mantri Developers’ Offices and Homes in Bengaluru

BENGALURU: The Enforcement Directorate (ED) conducted search operations on Monday at the residential and office premises of Mantri Developers Private Limited and its directors in Bengaluru, relating to a money laundering investigation, officials reported. The searches are being executed under Section 17 of the Prevention of Money Laundering Act (PMLA). The operation began around 8 AM, led by a team from the ED’s Delhi office, as part of an ongoing probe into alleged financial irregularities tied to the company. According to officials, multiple ED teams simultaneously searched various residential and office locations associated with the real estate firm and its…

Latest StoriesRegulatory

ED Names Valmark Realty Director in TDR Scam Involving Bengaluru Officials

BENGALURU: The Enforcement Directorate (ED) has filed a prosecution complaint in connection to a Transferable Development Rights (TDR) scam involving the director of Valmark Realty Holdings Private Ltd (VRHPL) along with 19 other accused, including former employees of the Bruhat Bengaluru Mahanagara Palike (BBMP). The investigation, initiated based on an FIR lodged by the Anti-Corruption Bureau (ACB) in 2019, claims that VRHPL’s director, Ratan Lath, acquired development right certificates (DRCs) and unlawfully sold TDRs to various real estate companies and individuals, netting illicit profits of approximately ₹27.7 crore. According to a press release from the ED, TDR brokers K Suresh,…

IndustryLatest Stories

Finance Panel Urges Karnataka to Allow Monthly Property Tax EMIs

BENGALURU: The 5th State Finance Commission has put forth a proposal for property tax payments to be made in installments (EMIs) alongside the introduction of amnesty and incentives to motivate property owners to settle outstanding tax dues. The commission’s report, presented in the legislative assembly on Wednesday, dedicates a chapter to reforming property tax to enhance collection efficiency within the city. These recommendations arrive as government officials have initiated drone surveys of properties in the Greater Bengaluru Authority (GBA) to identify tax defaulters. Estimates suggest that dues across GBA’s five corporations reach into the lakhs. Bengaluru is home to 20.5…

IndustryLatest Stories

IPO Surge Among Developers Shows Improved Governance, Needs Careful Expansion: Brigade Group’s Founder

File Photo NEW DELHI: India’s residential real estate market is experiencing a robust post-pandemic uptrend, characterized by a noticeable shift towards premium offerings, enhanced affordability, and increased buyer ambitions, according to M. R. Jaishankar, founder and executive chairman of Brigade Group. However, he emphasizes that the most enduring demand lies within the mid-income and mass housing segments. In an exclusive interview with Ankit Sharma, Jaishankar expressed optimism about the sector’s long-term trajectory, supported by rising incomes and economic growth. He stressed the necessity for developers to exercise restraint in their expansion plans and called for a reassessment of the affordable…