Tag: Bengaluru

IndustryLatest Stories

Sobha Sees 61% Surge in Q2 FY26 Sales to ₹1,902.6 Crore

NEW DELHI: Real estate firm Sobha Ltd reported a 61% increase in sales bookings, reaching ₹1,902.6 crore in the second quarter of this fiscal year, fueled by strong demand for its residential properties. In the same period last year, the company achieved property sales worth ₹1,178.5 crore. According to a regulatory filing, Sobha Ltd sold 13.94 lakh square feet during the July-September quarter, with an average price of ₹13,648 per square foot. Bengaluru accounted for 69.7% of the quarterly sales, amounting to ₹1,326.4 crore, aided by increased momentum at the SOBHA Town Park project. Delhi-NCR contributed ₹309.7 crore, while the…

InfrastructureLatest Stories

Citizens Oppose Plan to Cut Bengaluru’s Lake Buffer Zone

BENGALURU: A local citizen group, Bengaluru Town Hall, has approached the Principal Secretary of the Urban Development Department (UDD) to voice their opposition against proposed amendments to buffer zone laws that could significantly diminish these areas. In their memorandum, the civic organization outlined serious concerns regarding the potential threats the new regulations pose to ecology, water security, biodiversity, food security, the environment, and the well-being of residents. Members of the group caution that the proposed bill represents a substantial threat to Bengaluru’s remaining green spaces, might lead to increased pollution in the city’s lakes, could endanger biodiversity, amplify the impacts…

CommercialLatest Stories

Net Office Leasing Jumps 35% in Top 8 Cities: C&W

Certainly! Here’s a rewritten version of the provided content: — NEW DELHI: Net leasing of office spaces rose by 35% across eight major cities in the July-September quarter, reaching 16.25 million sq ft, driven by increased demand from both domestic and international companies, as reported by Cushman & Wakefield. According to data from the real estate consultant Cushman & Wakefield, office space leasing experienced growth in cities such as Delhi-NCR, Chennai, Hyderabad, Pune, Kolkata, and Ahmedabad. However, Mumbai and Bengaluru saw a decline in net demand. Net absorption, a crucial measure of real estate demand, reflects the net change in…

Latest StoriesRegulatory

Tenants Could Face ₹50,000 Fine for Illegal Subletting

BENGALURU: The Karnataka state government has announced major changes to the Rent Control Act of 1999, decriminalizing rental disputes while significantly increasing penalties, which may rise from 900% to 2,500%. The cabinet approved these amendments last week, and they will be presented during the winter session of the legislature in Belagavi. The amendments aim to align the state legislation with the central government’s Jan Vishwas Act, 2025, which decriminalizes minor offences while implementing penalties and warnings. Imprisonment clauses of up to one month related to rental disputes between tenants and landlords will be eliminated. Under the new amendments, penalties for…

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.…