Tag: Bengaluru

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Complaint Filed Against Karnataka-RERA Over Delayed Resolution

BENGALURU: The Karnataka Real Estate Regulatory Authority (K-RERA), mandated to ensure transparency and accountability in property transactions to safeguard home buyers, is facing criticism. Several purchasers are voicing their dissatisfaction with the authority’s operations, leading one distressed buyer to file a complaint with the Karnataka State Human Rights Commission (KSHRC). Dhananjaya Padmanabhachar, a resident of Sobha Arena Apartment in Thalaghattapura, lodged the complaint due to K-RERA’s alleged procrastination in issuing an order related to his case concerning deficiencies in the Sobha Arena Project. In his grievance, Padmanabhachar mentioned being a buyer of a unit in the Sobha Arena Apartments. “I…

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Ajmera Realty Achieves ₹108 Crore Sales in Q1 FY26

NEW DELHI: Ajmera Realty & Infra India has reported first-quarter sales of ₹108 crore for FY26, with 63,244 sq ft sold. Although the performance remained stable, it faced challenges due to project launch delays caused by regulatory issues affecting the sector. The company experienced a 42% year-on-year increase in collections, reaching ₹234 crore in Q1 FY26, attributed to efficient execution and disciplined cash flow management. The Mumbai-based developer disclosed that key project launches were postponed because of delays in obtaining necessary permits, a challenge that has also impacted other industry players. Nevertheless, they are actively collaborating with authorities to address…

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Puravankara Q1 FY26 Pre-sales Reach ₹1,124 Crore

NEW DELHI: Puravankara has announced pre-sales of ₹1,124 crore for Q1 FY26, marking a 6% year-over-year increase, despite no new project launches this quarter. This achievement is driven by a 9% increase in average price realization, now at ₹8,988 per sq ft, complemented by consistent sales across existing projects. Sales volume reached 1.25 million sq ft, with collections amounting to ₹857 crore. The company is enhancing its development pipeline, adding projects with a total projected gross development value (GDV) of ₹3,100 crore. This includes the redevelopment of eight housing societies in Chembur, Mumbai, covering four acres and offering over 1.2…

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Puravankara to Co-Develop 5.5 Acres in East Bengaluru

Representative image created by AI NEW DELHI: Puravankara Group has announced a joint development on a 5.5-acre land parcel in Balagere, East Bengaluru, with a projected gross development value (GDV) exceeding ₹1,000 crore. This parcel includes a total saleable area of 0.83 million square feet, with the project expected to launch within six to nine months. According to Mallanna Sasalu, CEO-South of Puravankara, “We anticipate launching the project in the next 6-9 months, and are confident it will enhance our growing portfolio.” Earlier in the year, the company acquired a 3.63-acre site on Kanakapura Road, valued at over ₹700 crore.…

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Karnataka’s New Cell to Recover Builder Dues

BENGALURU: Homebuyers in Bengaluru and other parts of Karnataka can finally see some hope as the government is taking action against non-compliant builders. A dedicated ‘Recovery Cell’ is nearing establishment to ensure that real estate developers who fail to adhere to Karnataka Real Estate Regulatory Authority (K-Rera) orders regarding buyer compensation are held accountable. This step comes after prolonged frustrations faced by homebuyers who didn’t receive property ownership or compensation, despite clear orders from K-Rera. Rera chairman Rakesh Singh informed TOI that most groundwork has been done, and a final decision regarding whether the cell will operate under Rera or…

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Prestige Estates posts ₹12,126 crore sales in Q1 FY26

Sure! Here’s a rewritten version of the content: — Representative image created by AI NEW DELHI: Prestige Estates Projects has recorded sales of ₹12,126 crore in Q1 FY26, marking a nearly four-fold increase compared to the same quarter last year. The company sold 4,718 units from April to June, resulting in 9.55 million sq ft of saleable area—a 234% year-on-year growth. Collections reached ₹4,523 crore, up 55% from Q1 FY25. The average realization was ₹13,339 per sq ft for apartments and ₹7,343 per sq ft for plotted developments. NCR Fuels Growth, Mumbai Sees First Project Completions This quarter saw a…

InfrastructureLatest Stories

Bengaluru Blueprint Ready for Upcoming Cabinet Meeting: Deputy CM

BENGALURU: Deputy Chief Minister DK Shivakumar announced on Monday that a comprehensive development roadmap for Greater Bengaluru is almost ready and will be presented to the cabinet at its next meeting. “We are in the final stages of finalizing the development plan for Greater Bengaluru,” Shivakumar told reporters, marking a significant initiative in the government’s urban governance reforms. The announcement follows Chief Minister Siddaramaiah’s statement in May regarding the implementation of the Greater Bengaluru Governance Act, which will see the Bruhat Bengaluru Mahanagara Palike (BBMP) replaced by a new governing body, the Greater Bengaluru Authority (GBA). On May 25, Shivakumar…

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Sobha Reports ₹2,078 Crore in Q1 FY26 Pre-Sales

NEW DELHI: Sobha has reported its highest quarterly real estate sales in the first quarter of FY26, achieving pre-sales of ₹2,078 crore, with the company’s share amounting to ₹1,717 crore. The impressive quarterly performance was fueled by strong demand in key markets and the successful launch of Sobha Aurum in Greater Noida, marking the company’s debut project in the city. The total area sold during this quarter reached 1.44 million sq ft, with an average realization of ₹14,395 per sq ft. Regional Performance Bengaluru emerged as the leading market, contributing ₹602 crore in sales, followed by Gurugram with ₹352 crore.…

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KVN Properties, Assetz Group to Build 1M Sq Ft Project in Bengaluru

Representative image created by AI NEW DELHI: KVN Properties LLP has formed a strategic development management agreement (DMA) with Assetz Group to launch a residential project in North Bengaluru. The collaboration will facilitate nearly one million sq ft of development, with an anticipated gross development value (GDV) of ₹1,000 crore. The project is planned as a single-phase initiative projected to span 3-4 years. Through this strategic DMA model, KVN Properties will cover all project-related costs, including land acquisition and construction expenses. Meanwhile, Assetz Group will assume the role of development manager. This agreement brings the company’s total residential development commitments…

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₹30,885 Crore in Land Deals Across India in H1 2025

Representative image created by AI NEW DELHI: The Indian land market saw unprecedented activity in the first half of 2025, with approximately 2,900 acres sold across 76 transactions—exceeding the entire volume of 2024, which consisted of 133 deals covering 2,515 acres. A recent Anarock report indicates that land transactions in H1 2025 alone are valued at ₹30,885 crore, with potential revenue estimated at ₹1.47 lakh crore and a total development capacity exceeding 233 million sq. ft. Among the top seven cities in India, the Mumbai Metropolitan Region (MMR) dominated with 24 land transactions covering over 433 acres, followed by Bengaluru…