Tag: Bengaluru

IndustryLatest Stories

Prestige Estates Q2 FY26 Sales Surge 50% to ₹6,017 Crore

NEW DELHI: Prestige Estates Projects Ltd reported a 50% increase in sales bookings, reaching ₹6,017.3 crore in the second quarter of this fiscal year, attributed to rising housing demand. In its regulatory filing, the company highlighted that robust demand across various markets and segments fueled this growth in sales bookings or pre-sales. Sales volume for the quarter totaled 4.42 million square feet, an increase of 47% year-on-year. During the July-September period, the company sold 2,069 units, with the average realization for apartments rising 8% year-on-year to ₹14,906 per square foot. Meanwhile, plots saw an impressive 43% increase in realization to…

Latest StoriesRegulatory

Karnataka HC Calls for State to Develop Plot Guidelines

BENGALURU: The Karnataka High Court has called on the State Government to create a comprehensive framework to regulate land transactions involving converted lands located outside sanctioned layouts. Justice Sachin Shankar Magadum, while reviewing a writ petition, noted that the increasing number of such transactions necessitates a clear regulatory structure. “With many buyers acquiring sites in converted lands not part of approved layouts, it is crucial for the State to develop a comprehensive scheme to manage these transactions,” the court asserted. The judge emphasized that unless the government establishes appropriate guidelines or a regularisation mechanism under Section 17(2B) of the Karnataka…

IndustryLatest Stories

EAAA India’s Realty Assets Aim for 4x Growth

EAAA India Alternatives Ltd, previously known as Edelweiss Alternatives, aims to expand its real estate portfolio to 9–10 million sq ft over the next three years, up from the current 2.5 million sq ft. This ambition follows their acquisition of three office properties worth Rs 3,000 crore in Gurgaon and Bengaluru, with plans to venture into warehousing, data centers, and student housing, as stated by a senior executive. “We aim to acquire office buildings that can be upgraded for premium rental rates. There’s a noticeable demand-supply gap in commercial real estate, and with the increasing demand from GCCs, the need…

Latest StoriesResidential

Brigade Group to Co-Develop Residential Project in West Chennai

NEW DELHI: Brigade Enterprises has entered into a joint development agreement (JDA) for a 6.6-acre land parcel in West Chennai. The project holds an estimated gross development value (GDV) of ₹1,000 crore, with an expected launch in 2026. In September 2025, the company signed a JDA for a residential development in Banashankari, 5th Stage, South Bengaluru. This project will cover 7.5 acres and has a projected GDV of around ₹1,200 crore. Furthermore, the company has secured a residential project in East Bengaluru. This joint development spans approximately 10.75 acres, featuring a total saleable area of 2.5 million sq ft, with…

InfrastructureLatest Stories

BMRCL Greenlights Two-Tier Metro Expansion in Bengaluru

BENGALURU: In a major advancement for urban mobility in Bengaluru, the board of the Bangalore Metro Rail Corporation Limited (BMRCL) has sanctioned the construction of 40.56 km of double-decker elevated corridors as part of the upcoming Namma Metro Phase-3 project. The proposed double-decker route will extend between JP Nagar–Hebbal and Hosahalli–Kadabagere, covering a total distance of 44.65 km. The board plans to request the Karnataka government to cover the additional estimated expenses of ₹8,916 crore for this significant infrastructure expansion. A similar approach has already been executed on a 3-km stretch of Phase-2’s Yellow Line, linking Central Silk Board and…

Latest StoriesRegulatory

ED Seizes Ozone Urbana Assets Valued at ₹423 Crore in Karnataka

NEW DELHI: The Enforcement Directorate (ED) has attached unsold flats and land valued at over Rs 423 crore belonging to the promoters of a Karnataka-based real estate firm due to allegations of duping homebuyers. This action was taken on Saturday. The measures target Bengaluru-based Ozone Urbana Infra Developers and its primary promoter, S Vadudevan. A provisional order under the Prevention of Money Laundering Act (PMLA) has been issued to attach 92 flats in the Avenue project and 13 flats in the Aqua 2 project, as well as 4.5 acres of commercial land and personal properties belonging to Vasudevan, as stated…

IndustryLatest Stories

Sobha Sees 61% Surge in Q2 FY26 Sales to ₹1,902.6 Crore

NEW DELHI: Real estate firm Sobha Ltd reported a 61% increase in sales bookings, reaching ₹1,902.6 crore in the second quarter of this fiscal year, fueled by strong demand for its residential properties. In the same period last year, the company achieved property sales worth ₹1,178.5 crore. According to a regulatory filing, Sobha Ltd sold 13.94 lakh square feet during the July-September quarter, with an average price of ₹13,648 per square foot. Bengaluru accounted for 69.7% of the quarterly sales, amounting to ₹1,326.4 crore, aided by increased momentum at the SOBHA Town Park project. Delhi-NCR contributed ₹309.7 crore, while the…

InfrastructureLatest Stories

Citizens Oppose Plan to Cut Bengaluru’s Lake Buffer Zone

BENGALURU: A local citizen group, Bengaluru Town Hall, has approached the Principal Secretary of the Urban Development Department (UDD) to voice their opposition against proposed amendments to buffer zone laws that could significantly diminish these areas. In their memorandum, the civic organization outlined serious concerns regarding the potential threats the new regulations pose to ecology, water security, biodiversity, food security, the environment, and the well-being of residents. Members of the group caution that the proposed bill represents a substantial threat to Bengaluru’s remaining green spaces, might lead to increased pollution in the city’s lakes, could endanger biodiversity, amplify the impacts…

CommercialLatest Stories

Net Office Leasing Jumps 35% in Top 8 Cities: C&W

Certainly! Here’s a rewritten version of the provided content: — NEW DELHI: Net leasing of office spaces rose by 35% across eight major cities in the July-September quarter, reaching 16.25 million sq ft, driven by increased demand from both domestic and international companies, as reported by Cushman & Wakefield. According to data from the real estate consultant Cushman & Wakefield, office space leasing experienced growth in cities such as Delhi-NCR, Chennai, Hyderabad, Pune, Kolkata, and Ahmedabad. However, Mumbai and Bengaluru saw a decline in net demand. Net absorption, a crucial measure of real estate demand, reflects the net change in…

Latest StoriesRegulatory

Tenants Could Face ₹50,000 Fine for Illegal Subletting

BENGALURU: The Karnataka state government has announced major changes to the Rent Control Act of 1999, decriminalizing rental disputes while significantly increasing penalties, which may rise from 900% to 2,500%. The cabinet approved these amendments last week, and they will be presented during the winter session of the legislature in Belagavi. The amendments aim to align the state legislation with the central government’s Jan Vishwas Act, 2025, which decriminalizes minor offences while implementing penalties and warnings. Imprisonment clauses of up to one month related to rental disputes between tenants and landlords will be eliminated. Under the new amendments, penalties for…