Tag: Bengaluru

CommercialLatest Stories

BlackRock Signs 1.43 Lakh Sq. Ft. Office Lease with IndiQube

BlackRock Services India, the local branch of the world’s largest asset manager, has secured a new office lease for approximately 143,000 square feet at IndiQube Symphony on MG Road in Bangalore’s central business district (CBD). The 10-year lease agreement has a total rental commitment of Rs 410 crore, ranking it among the largest enterprise flexible space transactions in recent months. The lease, which was registered earlier this month, will take effect on October 1, 2025. BlackRock will pay a monthly rent of Rs 2.72 crore at Rs 190 per square foot, supported by a security deposit of Rs 21.75 crore.…

Latest StoriesResidential

Bengaluru Buyers Struggle with RWAs and Asset Handover

BENGALURU: Apartment owners across the city are facing uncertainty regarding the establishment and registration of their resident welfare associations (RWAs). Issues range from the handover of communal assets to ambiguous directives from authorities. Residents report being pressured to assume maintenance responsibilities while still paying fees to the authorities, creating confusion about their rights, ownership, and the legal framework governing their associations. For example, in the BDA Kaniminike Housing Project, the civic authority issued a letter to homebuyers, urging them to form an association and submit a maintenance payment of 1%. This letter stated that all maintenance services, such as security,…

Latest StoriesRera

Karnataka-RERA Ruling Offers Hope for Distressed Plot Owners

BENGALURU: The Karnataka Real Estate Regulatory Authority (K-RERA) has ordered SL Plotted Development Projects Private Limited (SLPDPPL) to fulfill all promised amenities and ensure basic infrastructure at the Shriram Godhuli Layout project within six months, in accordance with the initial layout plan and sale deed commitments. This directive, issued on August 13, follows complaints from 52 purchasers of plots near Kathriguppe village in Chikkaballapur taluk. The K-RERA judgment notes, “The brochures, sale deeds, agreements, and submissions from complainants confirm that essential amenities—such as electricity, water, and sewage systems—are incomplete. Even key infrastructures like the overhead water tank, electricity connections, and…

Latest StoriesResidential

Bengaluru: No OC Required for Homes Under 1,200 Sq Ft

BENGALURU: Constructing a home on a 30×40 site within Greater Bengaluru Authority limits has become more straightforward. In a significant development for many residents, the state government announced on Tuesday that individual houses on plots of 1,200 sqft—featuring ground-plus-two floors or stilt-plus-three floors—will no longer require an occupancy certificate (OC), reports Niranjan Kaggere. The new directive authorizes the government to exempt specific types of buildings from the mandatory OC requirement. This decision follows increasing concerns from homeowners after a recent court ruling mandated OCs even for smaller residential properties. Officials noted that this exemption aims to simplify compliance and prevent…

Latest StoriesResidential

Senior Citizens Face E-Khata Issues Amid Aadhaar Mandate in Bengaluru

Representative AI image BENGALURU: Numerous senior citizens in the city are facing challenges in obtaining e-Khata for properties bought by their children, who are now living abroad. The requirement for Aadhaar ID on the Greater Bengaluru Authority (GBA) portal has left many families of Non-Resident Indians (NRIs) frustrated, as they lack this form of identification. For example, an octogenarian from RT Nagar, C V Govindharaju, is struggling to secure e-Khata for his flat purchased 22 years ago. “My son, who is a US citizen, assisted me in acquiring this apartment in 2003. However, the application for e-Khata is rejected because…

CommercialLatest Stories

日本企業、インドでGCCを狙う

AI-generated image (representative) HYDERABAD: Although Japanese companies have joined the global capability centre (GCC) scene in India later than others, the ‘silver tsunami’ in Japan is driving an influx of these firms to India. With approximately 30% of its population aged 65 and older, Japan faces a rapidly shrinking workforce while dealing with modernisation challenges. This situation has propelled Japanese companies to seek out India’s young and talented tech workforce, alongside its robust engineering capabilities and growing innovation ecosystem. As reported by Joules2Watts Business Solutions, India is now home to around 85 Japanese GCCs employing over 180,000 people, a number…

InfrastructureLatest Stories

Karnataka Housing Board Approves 43-Acre Township in Yelahanka

BENGALURU: The Karnataka Housing Board’s (KHB) ambitious integrated township project in Chikkajala, Yelahanka, is on track despite ongoing land disputes. The project is anticipated to include a multi-storied residential complex, a commercial center, a star hotel, and office spaces. Recently, the cabinet gave its approval for the project, which will operate under a public-private partnership (PPP) model on a 43-acre site, with an estimated cost of Rs 2,930 crore. However, ownership issues regarding the land remain a concern. The land acquisition saga dates back 23 years when KHB secured 95 acres and 13 guntas across multiple survey numbers in Chikkajala…

IndustryLatest Stories

Shriram Properties to Develop 6.5 Acres in North Bengaluru

NEW DELHI: Shriram Properties (SPL) has entered into a joint development agreement for a 6.5-acre site in North Bengaluru. The company plans to launch a residential project that will encompass approximately 0.6 million sq ft, with an anticipated gross development value (GDV) of ₹500 crore. SPL reported a sales volume of 0.8 million sq ft in Q1 FY26, reflecting a 17% year-on-year increase, equating to ₹441 crore. Additionally, collections reached ₹388 crore, showing a 5% rise compared to the previous year. On the financial side, total revenue stood at ₹262 crore, maintaining a healthy gross margin of 34% and generating…

Latest StoriesResidential

Bengaluru: 85% Flat Owners Approved in E-Khata Drive, 4K Appeals

BENGALURU: Out of 140,000 e-khata applications submitted by flat owners in the city, approximately 120,000 were approved without objections, as their tax records and sale deeds were verified as accurate, based on data from the Greater Bengaluru Authority (GBA) obtained by TOI. However, around 20,000 flats were identified with discrepancies, yet only 4,000 owners have lodged appeals to date. Authorities stress the importance of not generalizing individual cases, highlighting that 85% of flat owners have adhered to the regulations. A senior revenue official remarked, “Some residents have acknowledged their mistakes and are ready to pay the adjusted amounts; we are…

Latest StoriesResidential

Bengaluru: Taxed Yet Neglected in Abhivrudhi Garden Layout

Representative AI image BENGALURU: Abhivrudhi, meaning development, is a garden layout situated in a neglected area between Bengaluru City East Corporation and Kithaganur Gram Panchayat. Despite paying property taxes to the Bruhat Bengaluru Mahanagara Palike (BBMP) for over a decade, residents continue to lack basic amenities, primarily due to the layout’s borderline position between the two jurisdictions. Residents claim that BBMP has avoided developmental responsibilities, citing jurisdiction issues while still collecting property tax from over 70 properties. Frustrated, they approached the Bengaluru East City Corporation at KR Puram to present a memorandum requesting essential services. “We have endured years of…