Tag: Bengaluru

InfrastructureLatest Stories

Bengaluru invites global bids for revised 2041 master plan

BENGALURU: The Bangalore Development Authority (BDA) has initiated a global tender to develop the Revised Master Plan (RMP-2041), which aims to create a comprehensive vision for the city’s future. This decision follows the previous RMP-2031 being put on hold due to criticism over insufficient scientific foundation, inadequate stakeholder involvement, and failure to tackle the city’s rapid and unplanned growth. Interested bidders can submit proposals until September 30. BDA officials assert that the new plan will rectify past shortcomings and establish a robust framework for managing Bengaluru’s growing population, increasing traffic, and urban expansion. A high-tech 3D drone survey is currently…

CommercialLatest Stories

Microchip Acquires Bengaluru Office Space for ₹176 Crore

Representative image Bengaluru: Microchip Technology, a US-based semiconductor leader, has acquired 1.72 lakh sq ft of office space in Whitefield for ₹176 crore. This is one of the largest office buyouts in the city this quarter. According to the registered sale deed from Propstack, the purchase consists of two commercial blocks located at 170-172, Phase 2, EPIP Zone, Whitefield. The seller, Ascendum Solution India, is a part of Cincinnati’s Vora Group, which is involved in IT services, business solutions, and real estate. The office space comprises two blocks measuring 92,098 sq ft and 80,395 sq ft, each featuring a basement,…

Latest StoriesRegulatory

Karnataka HC Advocates for GIS Land Mapping in State

BENGALURU: The Karnataka High Court has mandated the state government to create a unified technological platform using Geographic Information System (GIS) to provide a single, verifiable source for all land-related information. The court’s directive requires that the platform incorporates a GIS-based foundation, serving as a comprehensive and unalterable map of land parcels throughout the state. It will utilize high-resolution satellite imagery from the Forest Survey of India (FSI) and the Indian Space Research Organisation (ISRO) to accurately demarcate and geo-tag all designated forest boundaries in accordance with historical gazette notifications. Additionally, it will monitor forest cover via remote sensing data…

IndustryLatest Stories

Karnataka Passes Bill to Regulate 15% Building Violations

BENGALURU: The Karnataka Assembly passed the Municipal Corporations (Amendment) Bill, 2025, on Tuesday, allowing municipal commissioners to regularise unauthorized buildings by imposing penalties. This has drawn parallels with the Akrama-Sakrama scheme, which is still awaiting a decision from the Supreme Court. Urban Development Minister BS Suresha (Byrathi), while presenting the bill, stated that the amendment will only apply to unlawful structures that can be legalised under existing regulations. “This will not apply to buildings that have been slated for demolition,” he stated. Under the new provisions, municipal commissioners are empowered to issue occupancy certificates (OCs) for buildings that lacked commencement…

IndustryLatest Stories

KVN Properties to Raise ₹1,000 Crore for Business Expansion

NEW DELHI: KVN Properties, a real estate firm, plans to raise ₹1,000 crore from Kotak Realty Fund to fuel its expansion, according to sources. Founded by Venkat K Narayana, former CEO of Prestige Estates Projects Ltd., KVN Properties is based in Bengaluru. Sources indicate that the firm is currently negotiating with Kotak Realty Fund for growth capital. The company plans to raise funds through the issuance of debentures. KVN Properties has not commented on this matter. This fundraising initiative will facilitate KVN Properties’ expansion into prime land parcels across India, expected to be developed through joint development agreements (JDA) or…

CommercialLatest Stories

Apple Signs 10-Year Lease for 2.7 Lakh Sq Ft in Bengaluru

Certainly! Here’s a rewritten version of the content: NEW DELHI: Apple India has secured approximately 270,000 square feet of office space in Bangalore, committing to a 10-year lease with an initial monthly rent of Rs 6.3 crore, as reported by data analytics firm Propstack. As the leading exporter of mobile phones from India, Apple has exported iPhones valued at around Rs 1.5 lakh crore in the financial year 2024-25. The space, sourced from the Embassy Group, includes several floors and car parking facilities. According to Propstack, Apple is projected to spend over Rs 1,000 crore on rent, car park, and…

Latest StoriesResidential

Karnataka Minister: 40,000 of 700K e-khata Apps Pending

MYSURU: Property owners can breathe easier as significant progress has been made on the e-khata issue. Urban Local Bodies (ULBs) are accelerating approvals and minimizing backlogs. In response to a question from Chidananda M Gowda in the legislative council last week, Municipal Administration Minister Rahim Khan disclosed that 700,899 e-khata applications have been submitted statewide. Out of these, 653,989 have already been approved, leaving 45,910 still pending. He noted that several ULBs have achieved a status of zero pending applications. In Mysuru district specifically, 14 ULBs processed 72,184 applications, with 62,277 approved. Additionally, 3,143 applications were rejected for various reasons,…

Latest StoriesRera

Karnataka RERA Halts Sanchaya Land Sales, Freezes Accounts

BENGALURU: The Karnataka Real Estate Regulatory Authority (K-RERA) has issued a significant ruling, prohibiting Sanchaya Land and Estate Private Limited from entering into any sales agreements or executing sale deeds for apartments, as well as creating third-party interests until the project is completed and an occupancy certificate is obtained from the relevant planning authority. This decision follows complaints from approximately 100 home buyers against the developer, who failed to deliver flats booked in March 2013, which were promised by December 2014. The developer was tasked with constructing 650 flats in a group housing project called The Green, located in Kapur…

Latest StoriesRera

Bengaluru Flat Buyers Win Interest Payout After Decade-long Wait

BENGALURU: In a significant win for homebuyers, the Karnataka Real Estate Appellate Tribunal (KREAT) has mandated a local builder to pay interest on a refunded amount of ₹34.4 lakh to a family that waited nine years for possession of a flat, which was never delivered along with a registered sale deed. Although the Karnataka Real Estate Regulatory Authority (RERA) ordered a refund in 2023, it did not include interest. However, the tribunal, on July 25, 2025, acknowledged the complainants’ entitlement to interest under RERA. The issue began in September 2013 when K. Kiran Sarat and Subhagya S. Kumar, residents of…

IndustryLatest Stories

Brigade Enterprises Q1 FY26 Sales Bookings Rise 3% to ₹1,118 Cr

NEW DELHI: Brigade Enterprises Ltd experienced a 3% growth in sales bookings, reaching Rs 1,118 crore in the first quarter of the fiscal year, attributed to improved per square foot realizations from residential properties. In comparison, sales bookings in the same period last year amounted to Rs 1,086 crore. As per the company’s latest investor presentation, sales bookings by volume decreased by 17% to 9.49 lakh sq ft from 11.45 lakh sq ft. However, the realization per square foot surged by 24% to Rs 11,782 per sq ft from Rs 9,483 per sq ft. On Wednesday, Brigade Enterprises Ltd reported…