Tag: Bengaluru

IndustryLatest Stories

Lodha Developers reports ₹44.5 billion in Q1 FY26 pre-sales

NEW DELHI: Lodha Developers kicked off FY26 on a positive note, reporting pre-sales of ₹44.5 billion in Q1 FY26, marking a 10% increase year-on-year, despite temporary setbacks from geopolitical tensions early in the quarter. The company is optimistic about meeting its annual pre-sales target of ₹210 billion. During the quarter, collections reached ₹28.8 billion, a 7% growth compared to Q1 FY25. The company anticipates stronger inflows in the latter half of the financial year due to project completions and new launches. Lodha Developers introduced five new projects in Q1 FY26 across the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru, boasting…

Latest StoriesRegulatory

Karnataka HC Upholds RERA Co-op Society, Dismisses Flat Owners’ Plea

BENGALURU: A recent high court ruling could reshape the establishment of apartment associations under Rera regulations. The court affirmed the legitimacy of the Commune 1 Apartment Co-operative Society. The ruling dismissed two writ petitions brought forth by a faction of flat owners and their registered welfare association. It concluded that the cooperative, formed under the Real Estate (Regulation and Development) Act (Rera), has the rightful authority to represent the allottees and oversee the project’s shared areas. The case arose from the Commune 1 Apartment Project, where the Commune 1 Residents Welfare Association contested the establishment of the co-operative society created…

IndustryLatest Stories

Karnataka’s New Apartment Law Draft Almost Complete

BENGALURU: The Karnataka government has announced progress on the long-awaited draft of a new apartment act, aimed at resolving the legal ambiguity surrounding ownership, maintenance, and land rights for thousands of apartment residents. The urban development department stated that the draft—which has been developed in collaboration with apartment associations, legal experts, and stakeholders—will soon be forwarded to ministers for approval. Tushar Giri Nath, additional chief secretary of the department, remarked, “The draft is nearly complete. We’ve conducted meetings and gathered feedback from the law department and apartment owners. We’re now adding the final touches before presenting it to the ministers.…

Latest StoriesResidential

Karnataka Housing Board to Acquire 315 Acres Near Kengeri

AI-generated Representative Image BENGALURU: Taking a significant step toward the aspirations of countless urban poor and middle-class families, the Karnataka Housing Board (KHB) has announced the acquisition of 315 acres in BM Kaval village, close to Kengeri. This expansive residential initiative, designed to provide housing and plots for the disenfranchised, was initiated with a preliminary notification released in late June. BM Kaval, located off Mysuru Road and well-connected via NICE Road and the extended Purple Line of Namma Metro, has long been seen as an area rich in urban potential. This housing project is poised to establish the region as…

Latest StoriesResidential

Karnataka Homebuyers Urge Action on Property Delays

BENGALURU: The Karnataka Home Buyers Forum has presented a memorandum to Chief Secretary Shalini Rajneesh, urging the state government to address long-standing issues that impact countless homeowners, particularly concerning ownership rights and regulatory gaps. “We want to highlight that homebuyers in Karnataka face significant challenges in asserting their ownership rights,” reads the memorandum. The forum detailed key obstacles and proposed solutions for the Chief Secretary’s consideration, advocating for the interests of millions affected. One major issue raised is the Bruhat Bengaluru Mahanagara Palike’s (BBMP) failure to update khata mutation records for apartment owners. Despite having registered their flats, many owners…

CommercialLatest Stories

Top 7 Cities’ Office Leasing Up 40% in H1 2025: Anarock

NEW DELHI: The commercial real estate sector in India showed a strong recovery in the first half of 2025, with net office leasing in the seven largest cities rising by 40% year-on-year to around 26.8 million sq ft, according to Anarock Research. This compares to 19.08 million sq ft in the same period last year. Bengaluru was the standout performer, achieving 6.55 million sq ft of net absorption, a 64% increase from 4 million sq ft in H1 2024. Pune reported the highest year-on-year growth rate in leasing, soaring by 188% to 3.8 million sq ft, up from 1.32 million…

IndustryLatest Stories

Bengaluru Property Work Stalled by e-Khata Delays

BENGALURU: The implementation of e-Khata, a digital property document system designed for property sales, building approvals, and ownership regularization, is facing significant hurdles in Bengaluru. Launched citywide in 2024 and accessible via Bruhat Bengaluru Mahanagara Palike (BBMP) offices, Bengaluru One centres, and public drives, this system aimed to streamline property documentation and safeguard against fraud. However, residents are experiencing severe delays attributed to server outages, document mismatches, and insufficient options for correcting errors in draft e-Khatas. While approximately 25 lakh properties are listed with draft e-Khatas online, only 5.34 lakh have received official approval to date. Without a reliable process…

Latest StoriesResidential

Half of Homes Sold in H1 2025 Exceeded ₹1 Crore

NEW DELHI: The premium housing sector has taken the lead in India’s residential real estate market during the first half of 2025, with nearly 50% of homes sold exceeding ₹1 crore. A report by Knight Frank India indicates that 49% of the 1.7 lakh housing units sold across the top eight cities from January to June 2025 were in this premium category, despite a slight year-on-year dip of 2% in overall housing sales. This trend highlights a shift in buyer preferences due to limited supply of affordable housing and an increase in demand from mid-to-high-income buyers. The National Capital Region…

Latest StoriesRera

2,600+ Karnataka Real Estate Projects Expired: RERA Data

BENGALURU: The Karnataka Real Estate Authority (K-Rera) has commenced an investigation into various residential projects that have failed to meet their completion deadlines and have not submitted timely progress reports. According to K-Rera’s recent data, over 2,600 real estate projects are officially labeled as ‘expired’, while more than 2,700 are categorized as ‘lapsed’. Under RERA guidelines, a project is deemed expired when its registration period ends without the builder applying for an extension. It is classified as lapsed if it remains incomplete without a renewal request, invalidating the registration and potentially exposing the builder to penalties and regulatory actions. Out…

Latest StoriesResidential

3,000+ Residents Receive E-Khata at Bengaluru Mega Mela

BENGALURU: Over 3,000 residents gathered at the Sahakaranagar playground in the Byatarayanapura assembly constituency on Sunday for a successful mega e-khata mela. Initially set to conclude by 2 PM, the event has been extended to 8 PM on Monday due to the overwhelming response. Bengaluru Development Minister DK Shivakumar kicked off the door-to-door distribution drive by handing out draft e-khatas to local households. He encouraged residents to collect their documents online or to visit the mela, stating, “Final e-khatas will be delivered to homes within 100 days. Please check your details and complete the process as soon as possible.” He…