Tag: Bengaluru

IndustryLatest Stories

Karnataka Passes Bill to Regulate 15% Building Violations

BENGALURU: The Karnataka Assembly passed the Municipal Corporations (Amendment) Bill, 2025, on Tuesday, allowing municipal commissioners to regularise unauthorized buildings by imposing penalties. This has drawn parallels with the Akrama-Sakrama scheme, which is still awaiting a decision from the Supreme Court. Urban Development Minister BS Suresha (Byrathi), while presenting the bill, stated that the amendment will only apply to unlawful structures that can be legalised under existing regulations. “This will not apply to buildings that have been slated for demolition,” he stated. Under the new provisions, municipal commissioners are empowered to issue occupancy certificates (OCs) for buildings that lacked commencement…

IndustryLatest Stories

KVN Properties to Raise ₹1,000 Crore for Business Expansion

NEW DELHI: KVN Properties, a real estate firm, plans to raise ₹1,000 crore from Kotak Realty Fund to fuel its expansion, according to sources. Founded by Venkat K Narayana, former CEO of Prestige Estates Projects Ltd., KVN Properties is based in Bengaluru. Sources indicate that the firm is currently negotiating with Kotak Realty Fund for growth capital. The company plans to raise funds through the issuance of debentures. KVN Properties has not commented on this matter. This fundraising initiative will facilitate KVN Properties’ expansion into prime land parcels across India, expected to be developed through joint development agreements (JDA) or…

CommercialLatest Stories

Apple Signs 10-Year Lease for 2.7 Lakh Sq Ft in Bengaluru

Certainly! Here’s a rewritten version of the content: NEW DELHI: Apple India has secured approximately 270,000 square feet of office space in Bangalore, committing to a 10-year lease with an initial monthly rent of Rs 6.3 crore, as reported by data analytics firm Propstack. As the leading exporter of mobile phones from India, Apple has exported iPhones valued at around Rs 1.5 lakh crore in the financial year 2024-25. The space, sourced from the Embassy Group, includes several floors and car parking facilities. According to Propstack, Apple is projected to spend over Rs 1,000 crore on rent, car park, and…

Latest StoriesResidential

Karnataka Minister: 40,000 of 700K e-khata Apps Pending

MYSURU: Property owners can breathe easier as significant progress has been made on the e-khata issue. Urban Local Bodies (ULBs) are accelerating approvals and minimizing backlogs. In response to a question from Chidananda M Gowda in the legislative council last week, Municipal Administration Minister Rahim Khan disclosed that 700,899 e-khata applications have been submitted statewide. Out of these, 653,989 have already been approved, leaving 45,910 still pending. He noted that several ULBs have achieved a status of zero pending applications. In Mysuru district specifically, 14 ULBs processed 72,184 applications, with 62,277 approved. Additionally, 3,143 applications were rejected for various reasons,…

Latest StoriesRera

Karnataka RERA Halts Sanchaya Land Sales, Freezes Accounts

BENGALURU: The Karnataka Real Estate Regulatory Authority (K-RERA) has issued a significant ruling, prohibiting Sanchaya Land and Estate Private Limited from entering into any sales agreements or executing sale deeds for apartments, as well as creating third-party interests until the project is completed and an occupancy certificate is obtained from the relevant planning authority. This decision follows complaints from approximately 100 home buyers against the developer, who failed to deliver flats booked in March 2013, which were promised by December 2014. The developer was tasked with constructing 650 flats in a group housing project called The Green, located in Kapur…

Latest StoriesRera

Bengaluru Flat Buyers Win Interest Payout After Decade-long Wait

BENGALURU: In a significant win for homebuyers, the Karnataka Real Estate Appellate Tribunal (KREAT) has mandated a local builder to pay interest on a refunded amount of ₹34.4 lakh to a family that waited nine years for possession of a flat, which was never delivered along with a registered sale deed. Although the Karnataka Real Estate Regulatory Authority (RERA) ordered a refund in 2023, it did not include interest. However, the tribunal, on July 25, 2025, acknowledged the complainants’ entitlement to interest under RERA. The issue began in September 2013 when K. Kiran Sarat and Subhagya S. Kumar, residents of…

IndustryLatest Stories

Brigade Enterprises Q1 FY26 Sales Bookings Rise 3% to ₹1,118 Cr

NEW DELHI: Brigade Enterprises Ltd experienced a 3% growth in sales bookings, reaching Rs 1,118 crore in the first quarter of the fiscal year, attributed to improved per square foot realizations from residential properties. In comparison, sales bookings in the same period last year amounted to Rs 1,086 crore. As per the company’s latest investor presentation, sales bookings by volume decreased by 17% to 9.49 lakh sq ft from 11.45 lakh sq ft. However, the realization per square foot surged by 24% to Rs 11,782 per sq ft from Rs 9,483 per sq ft. On Wednesday, Brigade Enterprises Ltd reported…

Latest StoriesRegulatory

Karnataka: Online Registration for Allotted Land and Mortgages Approved

Representative image BENGALURU: On Wednesday, the assembly approved the Registration (Karnataka Amendment) Bill, 2025, enabling online registration of government-allotted land parcels with the sub-registrar’s digitized signature, eliminating the need for human involvement. The legislation also facilitates online registration for mortgage properties tied to bank loans and their release upon repayment. However, for transactions between private parties, the current requirement for the seller and buyer to be present before a sub-registrar remains unchanged. Revenue Minister Krishna Byre Gowda, who introduced the bill, highlighted that the goal is to streamline the registration process electronically for secure properties, including those allocated by agencies…

IndustryLatest Stories

Brigade Enterprises’ Q1 FY26 Profit Soars 79% to ₹150 Crore

NEW DELHI: Brigade Enterprises, a real estate firm, reported a 79% surge in its consolidated net profit, reaching ₹149.88 crore for the quarter ending June. This compares to a net profit of ₹83.72 crore during the same period last year. The company’s total income grew to ₹1,332.86 crore in the April-June quarter, up from ₹1,113.44 crore in the previous fiscal year, as indicated in a regulatory filing. Founded in 1986, Brigade Enterprises is among the top real estate developers in India, specializing in residential projects, office spaces, and shopping malls. The company is also involved in the hotel and education…

Latest StoriesRera

Karnataka RERA: Builders, Landowners Share Civic Liability

In a notable ruling with significant implications for joint development residential projects, the Karnataka Real Estate Regulatory Authority (K-RERA) has determined that builders and landowners share joint responsibility for providing essential civic amenities, including water and sewage connections, to homebuyers. The decision, made on July 30 by a K-RERA panel led by Chairman Rakesh Singh and Member J R Reddy, arose from a complaint filed by 30 residents, including L. Arun, against Adi Developers. The case pertained to the Adi North Lake project in Agrahara village, Bengaluru North taluk, developed under a joint development agreement (JDA) between Adi Developers and…