Tag: Bengaluru

IndustryLatest Stories

Prestige Group Buys 2.35 Acres in Mulund for ₹110.75 Crore

Sure! Here’s a rewritten version of your content: Representative AI image MUMBAI: Prestige Group, a leading real estate developer, has acquired a 2.35-acre land parcel in Mulund (West), Mumbai, for ₹110.75 crore. This move strengthens its development pipeline in one of the country’s most expensive property markets amidst ongoing demand for residential projects. The acquisition was made through Prestige Mulund Realty Pvt Ltd, purchasing the property from Shamvik Glasstech Pvt Ltd and General Glass Company Pvt Ltd. The deal was registered on July 16, with a stamp duty payment of ₹6.64 crore, as per property registration documents from CRE Matrix,…

IndustryLatest Stories

Primus Senior Living, HDFC Capital Launch ₹2,000 Cr Platform

Representative AI image NEW DELHI: Primus Senior Living and HDFC Capital have formed a partnership to launch a ₹2,000 crore senior living platform aimed at developing communities across six Indian cities: Mumbai, Chennai, Delhi, Hyderabad, Bengaluru, and Pune. The two companies will co-promote the platform as an equity partnership, with joint investments in various projects. Adarsh Narahari, founder and managing director of Primus Senior Living, mentioned that the structure is still being formulated, but the partners are considering establishing project-level special purpose vehicles. The ₹2,000 crore fund is expected to be invested over the next two years, with plans to…

Latest StoriesResidential

Bengaluru Builder to Demolish Unstable Tower After Occupancy Grant

Representative AI image BENGALURU: Just three months after the Greater Bengaluru Authority issued an occupancy certificate, an 18-floor apartment tower within the SNN Raj Etternia complex near Kudlu off Hosur Road is slated for demolition. The builder opted to dismantle the tower before any residents moved in, as it was discovered that the structure had begun to tilt due to inadequate stability work before construction commenced. Constructed over four years, the tower consists of 49 flats, which buyers were eager to occupy before this structural issue arose. The complex includes 14 other towers that are free of defects. Out of…

IndustryLatest Stories

Bangalore Body Limits Revised Building Plans After OCs

BENGALURU: In a positive development for apartment residents, the Bangalore Development Authority (BDA) has implemented new restrictions on revising building plans post-issuance of occupancy certificates (OC). A circular issued by BDA on July 15 requires approval from at least two-thirds of apartment owners for any modifications when third-party rights are involved, and disallows revisions in projects that have already utilized the permissible Floor Area Ratio (FAR). A senior official mentioned to TOI that BDA will no longer issue revised master plans for builders, clarifying the enforcement of these regulations. This directive follows an ongoing legal dispute involving residents of HM…

CommercialLatest Stories

315Work Avenue Leases 45,000 sq. ft; Welspun to Novel Jewels 15,232 sq. ft

Representative Image NEW DELHI: 315Work Avenue has leased approximately 45,000 sq ft of managed office space at Bhartiya City, Thanisandra, Bengaluru. This transaction was facilitated by Colliers India, a real estate consulting firm. Currently, the company oversees around four million sq ft of space, which translates to about 80,000 seats across 55 locations in Bengaluru, Chennai, Hyderabad, Mumbai, and Pune. In another announcement, the World Trade Center (WTC)-Thane, managed by Welspun One, has signed Novel Jewels (NJL), part of the Aditya Birla Group, for roughly 15,000 sq ft of space within its Grade-A Urban Distribution Centre (UDC). This facility will…

InfrastructureLatest Stories

Revamped Bengaluru Stations to Feature Retail, Cafes & Co-Working

Representative AI image BENGALURU: The South Western Railway (SWR) is starting work on the commercial utilization of newly developed spaces at various railway stations in the city, thanks to recent redevelopment efforts. The Bengaluru division of SWR has called for consultants to assist in utilizing the expanded areas at KSR Bengaluru, Yeshwantpur, Cantonment, and others. The consultant’s role will involve studying, planning, and supporting the commercial monetization of these railway assets, which is expected to significantly boost SWR’s non-fare revenue. According to a source, “Yeshwantpur and Bengaluru Cantonment now boast newly constructed multi-storey station buildings with extensive commercial space that…

Latest StoriesResidential

Bengaluru Housing Body Faces Criticism for Fire Safety Violations

Representative AI image BENGALURU: As the skyline of the city rises with state-sponsored housing, a critical question remains — are these homes truly safe? Various projects by the Bangalore Development Authority (BDA) are under scrutiny due to missing fire clearances and incomplete safety measures, transforming dream residences into potential dangers. One significant example is the BDA Indraprastha apartment complex in Kengeri, which has been denied a fire no-objection certificate (NOC). This complex, comprising multiple high-rise structures, reportedly fails to meet necessary open space regulations. When TOI spoke with residents, many expressed that the absence of fire NOCs and lift clearances…

IndustryLatest Stories

Sobha’s Q1 FY27 Net Profit Soars 274% to ₹50.84 Crore

NEW DELHI: Sobha has announced a remarkable 273.5% increase in its net consolidated profit after tax, totaling ₹50.84 crore for the quarter ending June 30, 2026, compared to ₹13.61 crore during the same period last year. The company’s net consolidated total income rose 47.6% to ₹1,330.17 crore in Q1 FY27, up from ₹901.40 crore in Q1 FY26. Real estate sales value surged 76% year-on-year, reaching ₹3,656 crore. The company sold 2.34 million sq. ft. in this quarter, a 62% increase compared to the previous year. Collections saw an 8% increase year-on-year, amounting to ₹1,924 crore. The average sales realization was…

Latest StoriesResidential

Karnataka Forms Panel to Address e-Swathu Issues, B-Khata for Rural Properties

Representative AI image Lakhs of rural property owners are facing difficulties in obtaining e-Swathu (e-Khata) records due to ongoing technical and server issues. In response, Rural Development and Panchayat Raj Minister Eshwar B Khandre announced the establishment of a five-member committee to tackle these challenges. In a written directive, Khandre highlighted that the e-Swathu applications are pending due to software and server issues. He instructed the formation of a committee led by the RDPR Secretary, D Randeep, which will include the chief executive officers (CEOs) of Bengaluru, Mangaluru, Kalaburagi, and Belagavi districts. This committee is tasked with submitting its recommendations…

CommercialLatest Stories

Volvo Group Leases 600K Sq Ft Office in Bengaluru

One of the largest transactions in Q2 2026 occurred when the Volvo Group leased 600,000 sq. ft. of office space at Bagmane Capital South in Bengaluru, influenced by geopolitical tensions that have delayed decision-making processes. Bengaluru topped the list for city-wise leasing, holding a 27% share in Q2 2026, while Bengaluru, Pune, and Delhi-NCR together represented 58% of national leasing. “Bengaluru remains India’s premier office market, bolstered by a rich technology workforce, a thriving tech ecosystem, premium office space, and competitive rents. The city accounted for nearly 50% of nationwide pre-commitments this year, indicating occupiers’ readiness to secure top-quality space…