Tag: Bengaluru

Latest StoriesResidential

Ranjan Pai’s firm acquires Bengaluru bungalow for ₹166 crore

Representational Image BENGALURU: The luxury property market in Bengaluru has reached unprecedented heights with the sale of a prime bungalow located at 50 Lavelle Road, marking the city’s most expensive property transaction both in total value and per square foot. The 25,824 sq. ft. site was purchased by Esencia Partners, associated with Manipal Group chairman Ranjan Pai, for Rs 165.66 crore—an extraordinary Rs 64,166 per sq ft, a record for central Bengaluru. This sale underscores the remarkable growth in Bengaluru’s ultra-luxury residential sector, where deals in the Rs 40 crore to Rs 60 crore range have become more frequent, pivoting…

InfrastructureLatest Stories

Bengaluru AECS Layout Residents Demand Action on Illegal High-Rises

BENGALURU: Frustrated by ongoing issues such as water shortages, traffic jams, and increasing crime rates, a group of volunteers from AECS Layout, located near Brookefield and Kundalahalli, decided to take action. They conducted a survey of their area and uncovered 30 high-rises under construction that they allege are violating norms set by the Greater Bengaluru Authority (GBA). Their findings revealed that numerous buildings have been erected beyond the sanctioned heights of G+2 or G+3, reaching G+6, G+7, and even G+8 floors. Residents expressed that this unauthorized vertical expansion has led to severe sewage overflow, garbage accumulation, traffic congestion, and diminished…

InfrastructureLatest Stories

Bengaluru Makes Greywater Recycling Mandatory for New Builds

BENGALURU: In a significant move to conserve water and reduce reliance on the Cauvery River, the Bangalore Water Supply and Sewerage Board (BWSSB) has announced plans to make greywater recycling mandatory for all newly constructed buildings and detached homes in the city. A detailed policy framework is being developed and will be submitted for government approval by the year’s end. Currently, the requirement for wastewater treatment and reuse applies only to apartment complexes with over 120 units. However, given Bengaluru’s rapidly increasing population and frequent water shortages due to climate change, officials believe expanding this mandate to individual residences is…

IndustryLatest Stories

Embassy Developers’ Promoters Inject ₹1,160 Crore Funds

Here’s a revised version of your content: NEW DELHI: Embassy Developments (EDL) announced that its promoters have successfully completed the subscription of 100% of warrants through the final tranche amounting to ₹67.7 crore, resulting in a total promoter capital infusion of ₹1,160 crore. This investment was made by converting warrants into equity shares at a price of ₹111.51 per share. The funds will be utilized to bolster the balance sheet, finalize ongoing projects, and support future expansion initiatives in key markets. Rajesh Kaimal, Chief Financial Officer of EDL, stated, “With a strengthened equity base, we are well-positioned to enhance project…

IndustryLatest Stories

Arnya Realestates Fund Investments: ₹415 Crore in Housing Projects

NEW DELHI: Arnya Realestates Fund Advisors has invested ₹415 crore in residential projects located in Bengaluru and Navi Mumbai. The fund has partnered with Vaishnavi Group for a villa project in southeast Bengaluru and MAIA Estates for a premium apartment project in South Central Bengaluru, as well as Gami Group for a mixed-use project in Navi Mumbai and Casagrand for an apartment project in South Bengaluru. The firm’s assets under management (AUM) have exceeded ₹675 crore, with total deployments anticipated to surpass ₹1,200 crore by March 2026. Recently, they launched a residential equity fund in collaboration with Supreme Universal, aiming…

IndustryLatest Stories

Bengaluru Realty Firms Question NOC for Jakkur Flying School

The Bengaluru chapter of the Confederation of Real Estate Developers’ Associations of India (Credai) has raised alarms regarding the city’s municipal corporation mandating a no-objection certificate (NOC) from the Government Flying Training School (GFTS) at Jakkur. This certificate is essential for granting approvals like commencement and occupancy certificates for residential projects. Credai argues that this requirement could significantly delay and complicate the residential real estate sector in Bengaluru, which is vital for the city’s ongoing housing development efforts. In a communication directed to Karnataka’s urban development department’s additional chief secretary, Credai Bengaluru questioned the necessity of the NOC, noting the…

IndustryLatest Stories

Puravankara Q2 FY26 Pre-Sales Rise 4% to ₹1,322 Crore

NEW DELHI: Puravankara has announced pre-sales of ₹1,322 crore for Q2 FY26, reflecting a four percent increase from ₹1,270 crore in Q2 FY25. The average price realization rose by seven percent year-on-year, reaching ₹8,814 per sq ft in Q2 FY26. Additionally, customer collections for the quarter surged by eight percent year-on-year, amounting to ₹1,047 crore. Ashish Puravankara, the company’s managing director, stated, “In Q2 FY26, we maintained our growth momentum, primarily through sustained sales, achieving pre-sales of ₹1,322 crores and collections of ₹1,047 crores, both with year-on-year improvements.” In the first half of FY26, the company added over 6.36 million…

IndustryLatest Stories

Prestige Estates Q2 FY26 Sales Surge 50% to ₹6,017 Crore

NEW DELHI: Prestige Estates Projects Ltd reported a 50% increase in sales bookings, reaching ₹6,017.3 crore in the second quarter of this fiscal year, attributed to rising housing demand. In its regulatory filing, the company highlighted that robust demand across various markets and segments fueled this growth in sales bookings or pre-sales. Sales volume for the quarter totaled 4.42 million square feet, an increase of 47% year-on-year. During the July-September period, the company sold 2,069 units, with the average realization for apartments rising 8% year-on-year to ₹14,906 per square foot. Meanwhile, plots saw an impressive 43% increase in realization to…

Latest StoriesRegulatory

Karnataka HC Calls for State to Develop Plot Guidelines

BENGALURU: The Karnataka High Court has called on the State Government to create a comprehensive framework to regulate land transactions involving converted lands located outside sanctioned layouts. Justice Sachin Shankar Magadum, while reviewing a writ petition, noted that the increasing number of such transactions necessitates a clear regulatory structure. “With many buyers acquiring sites in converted lands not part of approved layouts, it is crucial for the State to develop a comprehensive scheme to manage these transactions,” the court asserted. The judge emphasized that unless the government establishes appropriate guidelines or a regularisation mechanism under Section 17(2B) of the Karnataka…

IndustryLatest Stories

EAAA India’s Realty Assets Aim for 4x Growth

EAAA India Alternatives Ltd, previously known as Edelweiss Alternatives, aims to expand its real estate portfolio to 9–10 million sq ft over the next three years, up from the current 2.5 million sq ft. This ambition follows their acquisition of three office properties worth Rs 3,000 crore in Gurgaon and Bengaluru, with plans to venture into warehousing, data centers, and student housing, as stated by a senior executive. “We aim to acquire office buildings that can be upgraded for premium rental rates. There’s a noticeable demand-supply gap in commercial real estate, and with the increasing demand from GCCs, the need…