Tag: Bengaluru

IndustryLatest Stories

Embassy REIT Secures ₹2,000 Cr via 10-Year NCDs

Representative image created by AI NEW DELHI: Embassy Office Parks REIT (Embassy REIT) has successfully raised ₹2,000 crore through a 10-year non-convertible debenture (NCD). The offering was priced with an effective coupon rate of 7.33% over ten years, featuring a step-up structure of 7.25% for the initial five years, followed by 7.45% for the next five years. The raised funds will be used to refinance existing debts, leading to annual interest savings of approximately 70 basis points (bps). The issuance attracted interest from over 15 prominent institutional investors, including insurance companies, pension funds, and mutual funds, and was oversubscribed by…

IndustryLatest Stories

Govt to Regularize B-Khata Buildings, Excludes Vacant Lots

BENGALURU: The state government has decided to regularize all existing B khata buildings and multi-storey apartment complexes in Bengaluru, given they were constructed on unauthorized layouts or lands and registered with the BBMP before September 30, 2024. However, vacant plots with B khata status will not be included in this regularization initiative. The cabinet approved this decision on July 17, following a suggestion from the Urban Development Department (UDD). This aims to provide legal relief to thousands of homeowners while upholding standards against unapproved developments. According to the UDD, vacant lands converted under Section 95 of the Karnataka Land Revenue…

IndustryLatest Stories

Karnataka Cabinet Approves 1% Fire Cess on New High-Rises

BENGALURU: Karnataka’s Law and Parliamentary Affairs Minister H K Patil announced on Thursday that the state cabinet has approved several significant initiatives, including the establishment of a Centre of Excellence (CoE) in space technology and the launch of the Local Economy Accelerator Programme (LEAP). The proposed SpaceTech CoE will be formed as a Section 8 company under the Companies Act, 2013, with an allocation of ₹10 crore over five years. “The Satellite Communication Industry Association (SIA-India) has been chosen as the industry partner. The project has received exemption under Section 4(g) of the Karnataka Transparency in Public Procurements Act, 1999,”…

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Concorde to co-develop 2.16 acres of residential project in East Bengaluru

Representative image created by AI NEW DELHI: Concorde has announced a joint development for a high-rise residential project named Concorde Élevé, located on Old Madras Road (OMR) in East Bengaluru. The project offers a development potential of approximately 3.2 lakh sq ft and is estimated to have a gross development value (GDV) of ₹475 crore. Spanning 2.16 acres, it will consist of 136 units available in 3 and 4 BHK configurations. The tower is set to reach 36 floors with four units per floor, while maintaining an overall open space of 70%, as per company details. The development plans include…

Latest StoriesResidential

Manipal Group’s Promoters Purchase ₹64 Crore Bengaluru Apartment

Image for representation Shruti R Pai, the spouse of Manipal Education and Medical Group Chairman Ranjan Pai, has purchased a luxurious apartment in Bengaluru’s Jayamahal Extension for ₹64 crore, as per property registration records from Zapkey. The sale was made through Savyasachi Projects, with representatives Parag S. Maniar and H. Vijayanath Hegde facilitating the transaction. The apartment, situated in the exclusive Savyasachi Sarayu project, occupies the 13th and 14th floors, covering a super built-up area of 12,800 sq ft and a carpet area of 9,929 sq ft. This deal translates to ₹64,457 per sq ft based on the carpet area—a…

IndustryLatest Stories

Bengaluru e-Khata Reveals Extensive Property Tax Evasion

BENGALURU: The Bruhat Bengaluru Mahanagara Palike (BBMP) has made significant strides with its newly launched e-Khata system, aimed at eliminating fraudulent property transactions and the fabrication of documents. Since its implementation on October 1, 2023, the system has uncovered substantial property tax evasion, recovering an impressive Rs 500 crore. BBMP officials highlight that the final e-Khata requests have exposed inconsistencies indicating considerable underreporting of property sizes and the inappropriate application of residential tax rates on commercial properties. These vulnerabilities, previously exploited through self-declaration, are now being addressed. Over 5.5 lakh e-Khatas Issued Since the introduction of the e-Khata system, more…

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Brigade Group buys 20.19 acres in Bengaluru for ₹588.33 crore

Representative image created by AI NEW DELHI: Brigade Group has acquired a 20.19-acre land parcel located in the Whitefield–Hoskote corridor of Bengaluru. This acquisition was finalized for ₹588.33 crore through Ananthay Properties, a subsidiary of Brigade Enterprises. The site is poised for mixed-use development, with a gross development value (GDV) estimated at ₹5,200 crore and a potential development area of 4.2 million sq ft. Recently, BuzzWorks, the managed and flexible offices division of Brigade Group, leased over 50,000 sq ft at Mindspace Business Park in HITEC City, Hyderabad. The center can accommodate 1,000 seats. Published On Jul 21, 2025 at…

Latest StoriesRegulatory

Karnataka to Charge for Groundwater; Meters Required for All

BENGALURU: In a significant effort to manage groundwater resources and promote sustainability, the state government has introduced fees ranging from Re 1 to Rs 35 per cubic metre for various users of groundwater, including individuals, housing societies, commercial establishments, industries, and mining operations throughout the state. The fees will affect all types of residential complexes, group housing societies, as well as government bodies providing water in urban settings. Commercial entities and mining operations will also be subject to these new regulations. Moreover, the government has mandated that all residential and commercial property owners secure a no-objection certificate (NOC) prior to…

IndustryLatest Stories

Godrej Properties Acquires 48 Acres in Bengaluru

Representative image NEW DELHI: Godrej Properties (GPL) has secured a 48-acre land parcel in Doddaballapur, North Bengaluru, via outright purchase. The planned development will mainly consist of plotted units, boasting a development potential of 1.1 million sq ft. Gaurav Pandey, MD & CEO of the company stated, “This investment emphasizes our aim to bolster our presence in crucial growth corridors with well-planned residential communities. Bengaluru remains a key market for us.” Additionally, the company recently acquired 50 acres of land in Raipur, set to include primarily plotted residential units with an estimated saleable area of 9.5 lakh sq ft. Published…

CommercialLatest Stories

IndiQube Spaces’ ₹700-crore IPO Launching July 23

NEW DELHI: IndiQube Spaces, a workplace solutions provider, has set a price range of Rs 225 to Rs 237 per share for its Rs 700-crore initial public offering (IPO). The IPO will be open for public subscription from July 23 to July 25, with bidding for anchor investors starting on July 22, as announced by the company. At the upper limit of the price range, the company’s valuation is estimated at nearly Rs 5,000 crore. IndiQube aims to raise Rs 650 crore from a fresh issue, while promoters will sell shares worth Rs 50 crore as part of the offer…