Tag: Bengaluru

IndustryLatest Stories

KSH INFRA & WSB to Build 50-Acre Logistics Park in Bengaluru

NEW DELHI: KSH INFRA, in collaboration with WSB Real Estate Partners (WSB) and co-investors, is set to develop a 50-acre industrial and logistics park in Hosur, Bengaluru. The total investment of ₹450 crore for KSH Hosur Park I includes ₹180 crore in equity, with the remainder funded through bank construction loans. Launched last year, the park is expected to create 1.25 million sq ft of space and generate employment for over 1,800 individuals. KSH INFRA and WSB have formed an asset-level joint venture, where WSB and co-investors hold a 74% stake, while KSH INFRA retains 26%. Both parties are also…

Latest StoriesRegulatory

CBI Targets Builders, Financial Officials in Crackdown

Image used for representation. NEW DELHI: The CBI conducted searches at 12 locations across Kolkata, Bengaluru, and Mumbai on Saturday, following the registration of six new cases against builders and financial institution officials for allegedly defrauding homebuyers. The agency is probing a collusion between builders and financial institution officials that deceived homebuyers in these cities, acting on directions from the Supreme Court. The FIRs include Bengaluru-based Ithaca Estate Private Limited, LGCL Urban Homes, Ozone Urbana Infra Developers Pvt. Ltd, Mumbai’s Shashwati Realty Pvt. Ltd, ACME Realties Pvt. Ltd, and Kolkata’s MKHS Housing LLP. Homebuyers approached the Supreme Court after being…

Latest StoriesResidential

No Occupancy Certificate Required for Buildings Over 1,200 Sq Ft

Sure! Here’s a rewritten version of the content: The Karnataka Cabinet has announced that buildings on plots exceeding 1,200 sq ft within Bengaluru’s jurisdiction will no longer require an Occupancy Certificate (OC). This decision follows a Supreme Court ruling that mandated OCs for power connections, impacting more than 330,000 completed structures in the state that were left without electricity due to the absence of approved plans and OCs. With numerous applications still pending in Bengaluru, the Cabinet aims to offer a one-time relief by drafting a special law to facilitate electricity connections for these buildings. However, the Advocate General noted…

Latest StoriesRegulatory

Karnataka HC отменяет штрафы Регулятора недвижимости

BENGALURU: The High Court has annulled a circular issued by the Real Estate Regulatory Authority (RERA) of Karnataka on September 3, 2020, due to lack of legislative authority. The circular aimed to retrospectively impose a “delay fee” for late submissions of quarterly updates and annual audit statements. This circular required builders, developers, and promoters to submit quarterly updates and annual audit statements as per Section 7 of the Real Estate (Regulation and Development) Act, 2016. The petitioners contended that while the Act mandates obligations for promoters, it does not empower the authority to enforce delay fees. They argued that delays…

IndustryLatest Stories

Catena Homes India faces ₹25-crore fraud claims over fake leases

BENGALURU: Catena Homes India Pvt Ltd, a Bengaluru-based property management company, is facing significant backlash after seven FIRs were lodged at various police stations. The complaints accuse the firm and its directors of defrauding tenants and homeowners of nearly Rs 25 crore through fraudulent lease and rental schemes. Authorities have arrested three individuals: Naveen, Raman, and Ranjith. The incidents span several areas, including Parappana Agrahara, Varthur, Ramamurthy Nagar, Amruthahalli, and Electronic City. The first complaint was registered by a resident of Bengaluru, who reported losing almost Rs 10 lakh on September 1 after being misled by the company’s rental promises.…

InfrastructureLatest Stories

New Bengaluru city corporations receive ₹125 crore boost

BENGALURU: The state government has authorized an initial allocation of Rs 125 crore for the five newly established city corporations, which were created from the previous Bruhat Bengaluru Mahanagara Palike (BBMP). Each corporation will receive Rs 25 crore to manage daily administrative and operational costs until a direct tax remittance system is implemented. This decision follows a proposal presented by the Chief Commissioner of the Greater Bengaluru Authority (GBA) under the Greater Bengaluru Administration Act-2024. The Act, enacted on September 2, 2025, restructured BBMP into five independent municipal corporations: Bengaluru West, Bengaluru South, Bengaluru North, Bengaluru East, and Bengaluru Central.…

CommercialLatest Stories

BlackRock Signs 1.43 Lakh Sq. Ft. Office Lease with IndiQube

BlackRock Services India, the local branch of the world’s largest asset manager, has secured a new office lease for approximately 143,000 square feet at IndiQube Symphony on MG Road in Bangalore’s central business district (CBD). The 10-year lease agreement has a total rental commitment of Rs 410 crore, ranking it among the largest enterprise flexible space transactions in recent months. The lease, which was registered earlier this month, will take effect on October 1, 2025. BlackRock will pay a monthly rent of Rs 2.72 crore at Rs 190 per square foot, supported by a security deposit of Rs 21.75 crore.…

Latest StoriesResidential

Bengaluru Buyers Struggle with RWAs and Asset Handover

BENGALURU: Apartment owners across the city are facing uncertainty regarding the establishment and registration of their resident welfare associations (RWAs). Issues range from the handover of communal assets to ambiguous directives from authorities. Residents report being pressured to assume maintenance responsibilities while still paying fees to the authorities, creating confusion about their rights, ownership, and the legal framework governing their associations. For example, in the BDA Kaniminike Housing Project, the civic authority issued a letter to homebuyers, urging them to form an association and submit a maintenance payment of 1%. This letter stated that all maintenance services, such as security,…

Latest StoriesRera

Karnataka-RERA Ruling Offers Hope for Distressed Plot Owners

BENGALURU: The Karnataka Real Estate Regulatory Authority (K-RERA) has ordered SL Plotted Development Projects Private Limited (SLPDPPL) to fulfill all promised amenities and ensure basic infrastructure at the Shriram Godhuli Layout project within six months, in accordance with the initial layout plan and sale deed commitments. This directive, issued on August 13, follows complaints from 52 purchasers of plots near Kathriguppe village in Chikkaballapur taluk. The K-RERA judgment notes, “The brochures, sale deeds, agreements, and submissions from complainants confirm that essential amenities—such as electricity, water, and sewage systems—are incomplete. Even key infrastructures like the overhead water tank, electricity connections, and…

Latest StoriesResidential

Bengaluru: No OC Required for Homes Under 1,200 Sq Ft

BENGALURU: Constructing a home on a 30×40 site within Greater Bengaluru Authority limits has become more straightforward. In a significant development for many residents, the state government announced on Tuesday that individual houses on plots of 1,200 sqft—featuring ground-plus-two floors or stilt-plus-three floors—will no longer require an occupancy certificate (OC), reports Niranjan Kaggere. The new directive authorizes the government to exempt specific types of buildings from the mandatory OC requirement. This decision follows increasing concerns from homeowners after a recent court ruling mandated OCs even for smaller residential properties. Officials noted that this exemption aims to simplify compliance and prevent…