Tag: Bengaluru

Latest StoriesRegulatory

Karnataka: Online Registration for Allotted Land and Mortgages Approved

Representative image BENGALURU: On Wednesday, the assembly approved the Registration (Karnataka Amendment) Bill, 2025, enabling online registration of government-allotted land parcels with the sub-registrar’s digitized signature, eliminating the need for human involvement. The legislation also facilitates online registration for mortgage properties tied to bank loans and their release upon repayment. However, for transactions between private parties, the current requirement for the seller and buyer to be present before a sub-registrar remains unchanged. Revenue Minister Krishna Byre Gowda, who introduced the bill, highlighted that the goal is to streamline the registration process electronically for secure properties, including those allocated by agencies…

IndustryLatest Stories

Brigade Enterprises’ Q1 FY26 Profit Soars 79% to ₹150 Crore

NEW DELHI: Brigade Enterprises, a real estate firm, reported a 79% surge in its consolidated net profit, reaching ₹149.88 crore for the quarter ending June. This compares to a net profit of ₹83.72 crore during the same period last year. The company’s total income grew to ₹1,332.86 crore in the April-June quarter, up from ₹1,113.44 crore in the previous fiscal year, as indicated in a regulatory filing. Founded in 1986, Brigade Enterprises is among the top real estate developers in India, specializing in residential projects, office spaces, and shopping malls. The company is also involved in the hotel and education…

Latest StoriesRera

Karnataka RERA: Builders, Landowners Share Civic Liability

In a notable ruling with significant implications for joint development residential projects, the Karnataka Real Estate Regulatory Authority (K-RERA) has determined that builders and landowners share joint responsibility for providing essential civic amenities, including water and sewage connections, to homebuyers. The decision, made on July 30 by a K-RERA panel led by Chairman Rakesh Singh and Member J R Reddy, arose from a complaint filed by 30 residents, including L. Arun, against Adi Developers. The case pertained to the Adi North Lake project in Agrahara village, Bengaluru North taluk, developed under a joint development agreement (JDA) between Adi Developers and…

IndustryLatest Stories

Karnataka Plans One-Time Settlement for B-Khata Upgrade

BENGALURU: Following the conferral of B-khata status to properties in unauthorized layouts across various urban local bodies, the government is now contemplating a one-time settlement (OTS) scheme aimed at upgrading these properties to A-khata status. Urban Development Minister BS Suresha announced this in the legislative council on Tuesday, amidst opposition criticisms related to the ongoing E-khata issue. Addressing the call for a review from the opposition, Suresha remarked, “B-khata grants owners legal documentation for their properties. We are now considering transitioning these properties to A-khata with the introduction of a one-time settlement (OTS).” This announcement follows criticisms from BJP and…

Latest StoriesRegulatory

Karnataka Targets Illegal Layouts, Officials May Face Action

Representative image created by AI BENGALURU: The Karnataka Revenue Department has initiated a substantial campaign against illegal land developments, targeting unauthorized layouts established through the misuse of land laws. Revenue Minister Krishna Byre Gowda has instructed officials to identify and take strict action against officers involved in these violations. Across the state, valuable agricultural lands are being unlawfully converted into residential plots without the necessary approvals mandated by Section 95 of the Land Revenue Act. Developers are misusing “11E maps,” intended for legitimate partitioning, to subdivide land into smaller parcels, sometimes less than one gunta, and market them as part…

Latest StoriesResidential

Bengaluru Property Owners Criticize Officials Over E-Khata Issues

BENGALURU: After issuing penalty notices to numerous e-khata holders for allegedly under-declaring parking spaces in their property tax filings, the BBMP has dropped a new surprise — even if you pay the penalty, they will not update the property dimensions in the e-khata. Upset property owners are calling it a blatant exploitation. “They first accuse us of under-declaring our parking space. Now, when we agree to pay the penalty, they refuse to make any corrections. What’s the point of paying?” questioned frustrated homeowners. The silence from Deputy Chief Minister DK Shivakumar, who oversees Bengaluru’s development, has also left them perplexed.…

Latest StoriesResidential

Bengaluru: Builders Must Submit CCs Before Flat Transfers

BENGALURU: To combat unauthorized constructions, the Bruhat Bengaluru Mahanagara Palike (BBMP) has implemented a tough new policy for builders and property owners. It is now mandatory for them to present completion certificates before selling flats or properties. Layout approvals will only be granted once both the completion and occupancy certificates are provided. This measure addresses the ongoing problem of illegal constructions that have been bypassing official approvals, which have resulted in significant financial losses for the city corporation. The BBMP has identified thousands of unauthorized buildings but has yet to take decisive demolition actions. A BBMP official stated, “To tackle…

Latest StoriesRegulatory

Karnataka HC: RERA-validated co-ops can manage apartments

By Sanjana CS BENGALURU: A significant ruling from the High Court on June 30 has brought much-needed relief to flat owners. The single bench’s decision supports a registered cooperative society of allottees who have faced challenges for over 11 years. Justice Suraj Govindaraj presided over a case highlighting disputes among apartment owners, agreement holders, and builders concerning the completion and maintenance of an apartment complex. It was revealed that builders had manipulated an unauthorized association for illicit activities, contesting a Real Estate Regulatory Authority (RERA) order. The High Court dismantled this facade and reaffirmed the RERA order, thereby reinstating authority…

InfrastructureLatest Stories

PM Launches Bengaluru Metro’s Yellow Line

BENGALURU: On Sunday, Prime Minister Narendra Modi inaugurated the highly anticipated “Yellow Line” of the Bangalore Metro Rail, designed to alleviate traffic congestion across various bustling corridors linked to the city’s IT sector. During the event, the Prime Minister rode the metro from RV Road (Ragigudda) to the Electronic City station and engaged with students onboard. The Yellow Line spans over 19 kilometers from RV Road to Bommasandra and is a key part of the Bangalore Metro Phase-2 project, totaling approximately Rs 7,160 crore and featuring 16 stations, according to officials. This new line will expand the operational metro rail…

IndustryLatest Stories

Puravankara reports ₹68.55 crore net loss in Q1 FY26

NEW DELHI: Puravankara reported a net consolidated loss after tax of ₹68.55 crore for the quarter ending June 30, 2025, compared to a profit after tax of ₹14.78 crore in the same quarter last year, as stated in a BSE filing. The company’s net consolidated total income for Q1 FY26 was ₹538.64 crore, reflecting a decline of 20.27% from ₹675.55 crore in the same quarter the previous year. Ashish Puravankara, the company’s managing director, commented, “Our handovers and sales did not meet expectations due to regulatory changes, including e-Khata and modifications in byelaws. Despite this, our team is optimistic about…