Tag: Bengaluru

IndustryLatest Stories

Puravankara’s Q2 FY26 Net Loss Expands to ₹43 Crore

NEW DELHI: Puravankara has reported a net consolidated loss after tax of ₹42.99 crore for the quarter ending September 30, 2025, compared to a loss after tax of ₹17.06 crore for the same quarter last year, as stated in a filing to the BSE. The company’s net consolidated total income for Q2 FY26 reached ₹662.73 crore, marking a 27.53% increase from ₹519.68 crore recorded in the same quarter of the previous year. Ashish Puravankara, managing director, stated, “In Q2 FY26, we maintained strong growth, driven solely by sustainable sales, achieving pre-sales of ₹1,322 crore and collections of ₹1,047 crore, both…

Latest StoriesResidential

Bengaluru East Orders 160+ Illegal PGs to Comply by Nov 5

BENGALURU: The Bengaluru East City Corporation has initiated a significant campaign against unauthorized paying guest (PG) accommodations, uncovering 165 unlicensed establishments through routine ward inspections. These inspections, carried out by health officials across all wards, revealed a considerable number of the 1,452 PGs operating within the corporation limits were functioning without the required trade licenses or safety compliance. The civic body issued a final public notice urging PG owners to obtain licenses within seven days to avoid legal repercussions, including penalties and potential sealing of their properties. The deadline is set for Wednesday. Violations include operating in residential zones without…

CommercialLatest Stories

Brookfield India REIT to Buy 7.7M sq ft Park for ₹13,000 Crore

NEW DELHI: Brookfield India Real Estate Trust (BIRET) announced plans on Tuesday to acquire 7.7 million sq ft of commercial properties in Bengaluru for Rs 13,125 crore as part of its business expansion. The acquisition will be treated as a related party transaction and is expected to be conducted at arm’s length, as stated by the company. In its regulatory filing, BIRET disclosed that the Board of Directors of Brookprop Management Services Pvt Ltd, the trust’s manager, approved the acquisition of up to 100% of the issued and paid-up equity share capital of Arliga Ecoworld Business Parks Pvt Ltd for…

Latest StoriesResidential

Dispute Resolution for Bengaluru Property Khata Clarity

BENGALURU: The long-anticipated scheme for issuing A Khatas to B Khata properties was officially launched on November 1, coinciding with Kannada Rajyotsava. The Deputy Chief Minister labeled it a gift to Bengaluru’s citizens. However, the rollout raises concerns for genuine property owners who have fought to protect their assets from land mafia and fraudulent developers. Many, including Union Minister for Steel HD Kumaraswamy, have criticized the state government for imposing a 5 percent fee based on the property’s SR value to issue A Khatas for B Khata properties, in addition to a nominal Rs 500 application fee. Kumaraswamy pointed out…

CommercialLatest Stories

Qualcomm India Leases 256,000 Sq Ft Office in Bengaluru

Qualcomm India has secured a lease for 256,000 square feet of office space in Bengaluru, marking another significant move for the technology behemoth in India. A lease document obtained from Propstack indicates that this deal, established with Bagmane Developers Private Limited at Constellation Business Park – Virgo, commenced on October 1, 2025. It spans the 5th, 6th, 7th, and 11th floors of this premium commercial facility, situated in one of Bengaluru’s prime tech areas. The agreement details a five-year lease with a rental rate of ₹113 per square foot, amounting to ₹2.89 crore monthly and a total commitment of ₹184…

IndustryLatest Stories

Shriram Properties Partners on Five-Acre Project in South Bengaluru

NEW DELHI: Shriram Properties (SPL) has entered into a joint development agreement (JDA) for a five-acre land parcel located on Bannerghatta Road in South Bengaluru. According to Akshay Murali, Vice President (Business Development) at the firm, “Bannerghatta Road offers excellent connectivity, a vibrant social ecosystem, and tranquil green surroundings, making it perfect for discerning homebuyers who desire both exclusivity and convenience.” The company aims to create a villa community with an estimated gross development value (GDV) of over ₹350 crore. The project is anticipated to launch in FY26. Published On Nov 3, 2025 at 02:00 PM IST Join a community…

IndustryLatest Stories

Bengaluru Allows 15% Regularization for Minor Building Deviations

BENGALURU: In a significant development, the Karnataka government has granted relief to building owners statewide who have deviated by up to 15% from their sanctioned plans. Owners can now apply for revised plans by paying a designated fine that corresponds to the extent and nature of their deviations. While this current order does not cover the Greater Bengaluru Area (GBA), residents can look forward to potential good news. The town planning unit in GBA is working on a similar draft bill aimed at regularizing building deviations of up to 15% in Bengaluru. Officials stated that since the GBA is not…

IndustryLatest Stories

Karnataka Builders Hit with Heavy Fines for Plan Violations

BENGALURU: The Karnataka government has updated the penalty rates for buildings that have been constructed against approved plans within urban local bodies. A recent government directive allows these buildings to obtain revised plans if they pay a specified fine, provided that deviations are within 15 percent of the sanctioned setback limits. Under the new regulations, residential, industrial, and other non-commercial structures in Town Panchayat areas will incur a fine of ₹1,000 per square metre, while commercial buildings will face a penalty of ₹1,500 per square metre. For Municipal Council areas, the fines are set at ₹1,200 and ₹1,800 respectively; in…

Latest StoriesRera

Karnataka RERA to Check Projects Under New Closure Policy

BENGALURU: The Karnataka Real Estate Regulatory Authority (Rera) is set to implement a project closure policy, making it the second state in India to do so, following Odisha. The purpose of this policy is to enhance transparency and accountability in builders’ submissions while safeguarding homebuyers. It mandates that projects can only be closed after all statutory and service-related compliance is verified. Until now, the authority has only recorded self-declared project completions from promoters without any verification, even since its establishment in 2016. K-Rera chairman Rakesh Singh informed TOI that the new policy aims to ensure clear communication and accountability from…

IndustryLatest Stories

Bengaluru agency recovers ₹12 crore in encroached BTM Layout land

BENGALURU: On Monday, the Bangalore Development Authority (BDA) successfully reclaimed a valuable land parcel in BTM 1st Stage, valued at approximately Rs 12.3 crore. Officials reported that unauthorized compounds and sheds were illegally built on BDA property situated in Survey No. 50 of Tavarekere village, Begur Hobli, Bengaluru South taluk. The BDA task force, under the guidance of the executive engineer from the south division and with police assistance, moved to demolish the encroachments. The BDA recovered 6,629 sqft of land. This action is a part of a broader initiative aimed at identifying and reclaiming government and BDA lands that…