Tag: Bengaluru

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…

IndustryLatest Stories

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

The Karnataka state cabinet recently decided to impose a 1% fire cess on new multi-storey buildings in Bengaluru and other parts of the state. Builders believe this move will have a minimal effect on their investments, yet may lead to increased property prices. The cabinet’s decision amends the Fire Force Act of 1964 to include this new levy alongside property taxes for new high-rise structures. The government stated that the funds generated will enhance the operational capacity of the fire services. However, real estate developers in Bengaluru express concerns that this additional tax will exacerbate existing financial burdens stemming from…

InfrastructureLatest Stories

Govt Plans AI-Driven Township in Bidadi to Ease Bengaluru’s Congestion

BENGALURU: The government announced an ambitious initiative on Thursday to launch the Greater Bengaluru Innovation and Tech City (GBIT), touted as India’s first and largest AI-driven township, located in Bidadi, approximately 30km from Bengaluru. The project aims to alleviate pressure on Bengaluru by redistributing population and economic activities through sustainable development. GBIT will feature an integrated ecosystem comprising residential, commercial, and social spaces, with a central business district (CBD) built to global standards, designed to attract investment and generate large-scale employment across various sectors, including technology and services. Deputy Chief Minister DK Shivakumar stated, “GBIT will embody the aspirations of…

Latest StoriesResidential

Bain Capital, Colive, Sattva Group unveil $100M co-living platform

NEW DELHI: Colive, a co-living platform, has teamed up with Bain Capital and Sattva Group to launch a co-living real estate initiative with an initial investment commitment of at least $100 million. Through this collaboration, Colive has also secured $20 million in funding to support growth and market expansion. The platform aims to acquire land, establish communities, and provide purpose-built rental housing. Colive has successfully completed initial land purchases in Pune and Bengaluru, with approximately 0.5 million sq ft of co-living spaces in development. Published On Sep 4, 2025 at 04:00 PM IST Join our community of over 2 million…

CommercialLatest Stories

UrbanVault Signs 80K Sq Ft Lease at Manyata Tech Park, Bengaluru

NEW DELHI: UrbanVault, a workspace solution provider, has leased an 80,000 sq ft space at Manyata Tech Park in Bengaluru from Embassy Group. The center accommodates over 2,000 seats, with prices starting at Rs 10,000 per seat per month. Notable clients secured for the center include Cloud Odyssey, Pioneer, and SRM Tech. Amal Mishra, CEO of UrbanVault, stated, “We are dedicated to aggressive investments for our national expansion, particularly targeting high-potential micro-markets throughout India.” This expansion increases the company’s portfolio to over 2.58 million sq ft, managing over 42,000 seats across Bengaluru, Pune, Gurugram, and other key cities. The company…

CommercialLatest Stories

Applied Materials leases 8.06 lakh sq ft office for ₹855 crore

BENGALURU: Applied Materials, a semiconductor equipment manufacturer, has secured a lease for 8.06 lakh sq ft of office space at ITPB in Whitefield, amounting to Rs 855 crore over a decade. Karnataka’s IT/BT Minister Priyank Kharge shared this update on ‘X’, noting that this facility will accommodate the company’s expanding operations in the city and support the establishment of their Innovation Center for Semiconductor Manufacturing. This is set to be a pioneering R&D fab with an investment of Rs 4,851 crore, creating approximately 1,500 jobs. “From our visit to their US headquarters in 2023 to ongoing discussions through 2024, along…

Latest StoriesRera

Bengaluru Body Claims RERA Order Doesn’t Apply, Cites Status

BENGLAURU: Following Rera’s designation of the Nadaprabhu Kempegowda Layout (NKPL) project as “lapsed” due to significant delays and unmet commitments to allottees, the Bangalore Development Authority (BDA) asserted on Monday that it is not a “promoter” and therefore outside Rera’s jurisdiction. In its official statements, BDA contended that complaints against it do not hold under the Real Estate (Regulation and Development) Act, 2016, as site allotments are solely contractual. The authority highlighted that site allotments are regulated by its 1984 rules, strictly governing the relationship between the BDA and the allottee. Once an allotment is accepted, the allottee is bound…

IndustryLatest Stories

Karnataka Housing Board: 772-Acre Project in Devanahalli

Representative AI image BENGALURU: The Karnataka Housing Board (KHB) has proposed a substantial 772-acre housing development near the Information Technology Investment Region (ITIR) in Devanahalli, in response to the growing residential demand stemming from rapid urbanization and industrial expansion in the area. KHB plans to provide residential plots and affordable housing, particularly targeting economically disadvantaged groups, along with essential infrastructure like roads, water supply, and sanitation services. However, the future of this initiative remains uncertain, following the government’s recent cancellation of the acquisition of 1,777 acres due to farmers’ protests over the loss of fertile farmland. Officials reported that KHB…