Tag: Bengaluru

Latest StoriesRera

Karnataka RERA Recovery Cell Plan Canceled; Welfare Groups Disappointed

BENGALURU: A proposed cell aimed at streamlining the recovery of dues adjudicated by the state’s Real Estate Regulatory Authority (Rera) has been shelved, much to the dismay of homebuyers. Instead, the government has appointed a special deputy commissioner for Bengaluru Urban district to manage the recovery of outstanding amounts. Officials explained that discussions took place regarding the creation of a dedicated recovery committee, but the proposal was abandoned due to concerns about the committee’s lack of legal authority for enforcement. Currently, the ability to recover dues lies with individual district deputy commissioners, and agencies are limited to issuing recovery certificates…

IndustryLatest Stories

E-Khata Streamlines Bengaluru’s Property Management: GBA Official

BENGALURU: Munish Moudgil, Special Commissioner (Revenue & IT) of the Greater Bengaluru Authority (GBA), announced that the integration of e-khata with the Kaveri property registration portal has resolved issues in Bengaluru’s property management. Prior to the e-khata integration, around 85% of Kaveri transactions were linked to unauthorized layouts, illegal revenue sites, unapproved subdivisions, or faulty ownership records. In the 2024-25 fiscal year alone, over 75,000 such transactions occurred before e-khata was implemented on October 1, 2024. Following this integration, those instances dramatically decreased, according to Moudgil. The GBA Commissioner noted that some entities benefiting from the previous opaque manual process,…

CommercialLatest Stories

Smartworks to invest ₹70 crore for 4.92 lakh sq ft office in Bengaluru

NEW DELHI: Smartworks Coworking Spaces has secured a lease for 4.92 lakh sq ft at Sattva Aura in Bengaluru. The company announced that the expansion will necessitate an investment of approximately ₹70 crore, which will be financed through internal accruals or proceeds from an issue. As of March 31, 2026, Smartworks reported a leased capacity of 13.7 million sq ft and an operational capacity of 10.1 million sq ft, achieving an operational capacity utilization rate of 82%. With a total footprint of 16.1 million sq ft across 66 centers in 15 cities throughout India and Singapore, the company generated revenues…

IndustryLatest Stories

Shriram Properties’ Net Profit Rises 30.41% to ₹100.81 Crore

NEW DELHI: Shriram Properties Limited (SPL) has announced a 30.41% increase in its net consolidated profit for the financial year 2025-26. The profit after tax reached ₹100.81 crore, up from ₹77.30 crore in FY25, as per a BSE filing. The company’s total consolidated income for FY26 was ₹1,356.93 crore, representing a 39.40% increase from ₹973.38 crore in FY25. For Q4 FY26, SPL’s total consolidated income rose by 55.02% to ₹662.73 crore, compared to ₹427.51 crore in the same quarter last year. The profit after tax for Q4 FY26 increased by 64.77% to ₹78.53 crore, up from ₹47.66 crore in the…

IndustryLatest Stories

Puravankara buys 14.57 acres in Mandur, Bengaluru

Representative image NEW DELHI: Puravankara has acquired a 14.57-acre land parcel in Mandur, Budigere, Bengaluru, with an estimated gross development value (GDV) of around ₹2,300 crore. Of this, 7.92 acres are under a joint development agreement (JDA), while 6.65 acres were directly purchased by the company. The total saleable area for the project is expected to be approximately 1.8 million sq ft. Ashish Puravankara, Managing Director of the company, stated, “With this latest acquisition, our total land bank in Bengaluru now stands at 25.61 million sq ft.” The company’s development pipeline boasts a cumulative estimated GDV of approximately ₹10,400 crore.…

IndustryLatest Stories

Supreme Court Ruling Delays Smart Meter Rollout in Karnataka

Representative Image BENGALURU: The government’s initiative to implement smart meters for new electricity connections across the state has resulted in significant administrative hurdles, exacerbated by confusion regarding the Supreme Court’s mandate for mandatory occupancy certificates (OC). Smart meters are anticipated to minimize transmission losses, enhance billing accuracy, and facilitate real-time monitoring of electricity usage. However, the Supreme Court’s ruling, aimed at reinforcing building compliance standards, has inadvertently impeded progress in modernizing the power sector. The program, launched nearly a year ago, was initially targeted for all new and temporary electricity connections in the jurisdictions of Bangalore Electricity Supply Company (Bescom)…

CommercialLatest Stories

Knowledge Realty Trust to invest ₹700 crore in Bengaluru office space

NEW DELHI: Knowledge Realty Trust (KRT), a realty firm, plans to invest Rs 700 crore over the next three years to develop 1.4 million sq ft of office space in Bengaluru as part of its expansion strategy, according to a company executive. KRT is a real estate investment trust (REIT) backed by the Sattva Group and investment firm Blackstone. In an interview with PTI, KRT’s CEO, Shirish Godbole, stated that the company is actively pursuing the acquisition of prime office assets to drive organic growth. Godbole noted that KRT is performing well and expects to maintain its growth momentum in…

Latest StoriesRegulatory

Bengaluru Civic Bodies See Revenue Drop from Khata Scheme

BENGALURU: A significant reduction in fees for converting B-khata properties to A-khata is poised to affect Bengaluru’s civic finances, with five city corporations projected to lose about ₹1,015 crore in revenue this year. As part of the “Nanna Khata Nanna Hakku” initiative launched by the Greater Bengaluru Authority on May 15, property owners now have 100 days to regularize B-khata properties by paying just 2% of the guidance value, down from 5%. Officials noted this adjustment will allow citizens to save substantial amounts; however, it will severely impact revenue streams that have already been included in the 2026-27 civic budgets.…

Latest StoriesResidential

Bengaluru Renters Disappointed as Promises Fall Short

BENGALURU: Numerous property owners who entered agreements with an asset management company have reported delays in receiving their rental income. Some owners claim they haven’t received payments for five to eight months. The number of such cases appears to be growing, raising concerns about disputes over leasing agreements. “I signed a lease with Jones Asset Management to rent out my 3 BHK flat last year. Initially, everything was fine, but later they began to delay rent payments by one or two months,” stated L Kumar, one of the property owners. Another property owner, Sriram P, expressed concern after not receiving…

Latest StoriesResidential

Azim Premji’s Son Purchases ₹45.7 Crore Home in Bengaluru

Sure! Here’s a rewritten version of the content: BENGALURU: Tariq Premji, son of renowned philanthropist and Wipro founder Azim Premji, has purchased a luxury duplex penthouse in central Bengaluru for ₹45.7 crore, as per property registration documents from Zapkey. The apartment is situated in “27 Summit,” an ultra-luxurious residential tower in Sampangiramnagar, close to the city’s CBD. Developed by Maia Estates-backed Nestled Haven Developers, the transaction was recorded in February of this year. The duplex, known as Penthouse B, occupies the 25th and 26th floors of the tower, covering a carpet area of 7,065 square feet and a super built-up…