Tag: Bengaluru

CommercialLatest Stories

HSBC Signs LOI for 1.2M Sq Ft Campus with Prestige Group

NEW DELHI: HSBC has entered into a letter of intent with Prestige Group to create a 1.2 million sq ft integrated campus on Outer Ring Road in Bengaluru. The venue, named Prestige JRC Signature Towers, aims to consolidate HSBC employees from various locations in Bengaluru into one facility. The new campus will feature collaboration areas, shared amenities, dining options, multi-functional spaces for town halls and learning, outdoor and community areas, as well as metro access and parking facilities. “India is one of the most significant talent hubs globally and remains a vital market for HSBC. Uniting our workforce under one…

IndustryLatest Stories

Puravankara to Co-Develop 6.4-Acre Site in Bengaluru

Representative AI image NEW DELHI: Puravankara has entered a joint development agreement for a 6.4-acre land parcel in Sarjapur, Bengaluru, with an estimated gross development value of ₹1,000 crore. The project will have a saleable area of approximately 0.8 million sq ft and will be developed as a residential project. The land is situated in Kaggalipura village, Sarjapura Hobli. The company stated that this transaction has increased its total potential gross development value (GDV) from acquisitions and JDAs in Q1 FY27 to ₹5,200 crore. In the first quarter of FY27, Puravankara announced four land transactions in Bengaluru, covering about 41.93…

IndustryLatest Stories

Credai Karnataka Urges Faster Approvals to Reduce Red Tape

BENGALURU: While the government is advocating for vertical growth to address the soaring demand for urban housing, developers are reporting that prolonged approval delays and bureaucratic hurdles are hindering project execution and delaying home deliveries. Recently, Karnataka has eased occupancy certificate (OC) regulations. Initially, residential buildings on plots up to 1,200 square feet were exempted from the OC requirement for electricity connections, which was later expanded to plots of up to 2,400 square feet, given they have approved building plans and adhere to basic compliance requirements. Additionally, the state is pushing for expedited, systematized online approvals to reduce delays in…

IndustryLatest Stories

Prestige Group’s ₹65,000 Crore Unrecognized Revenue: Chairman

NEW DELHI: Realty developer Prestige Estates Projects Ltd has approximately Rs 65,000 crore in unrecognized revenue, attributed to robust sales of its residential properties over the past three fiscal years. The company reported record sales bookings of Rs 30,024 crore during the 2025-26 fiscal year, marking a 76% increase from the previous year. In an interview with PTI, Chairman Irfan Razack stated, “We have around Rs 65,000 crore in unrecognized revenue on our books. It’s a substantial amount.” Razack noted that the company employs a completion method for revenue recognition, meaning revenue is recorded only after the completion of real…

IndustryLatest Stories

Manasum Senior Living to invest ₹800 crore in nationwide growth

Representative AI image NEW DELHI: Manasum Senior Living is set to invest approximately ₹800 crore over the next five years as part of its growth strategy to expand operations throughout India. This investment aims to launch over 25 projects, helping the company reach its goal of 10,000 senior living units by 2030. Currently, projects in the planning stage have an estimated development value of around ₹5,000 crore. The company plans to allocate ₹150 crore in FY27 to initiate 10 projects. “Annually, we need to invest ₹150 crore-₹200 crore to launch projects. After 2028, additional funding will not be necessary,” stated…

CommercialLatest Stories

India Office Leasing Jumps 6% to 35.7M sq ft in H1 2026

NEW DELHI: In the first half of 2026, India’s office market achieved 35.7 million sq ft of gross leasing across the top seven cities, reflecting a 6% increase year-on-year, as reported by Colliers India. Grade-A office space leasing reached 17.4 million sq ft in Q2 2026, marking a slight 2% decline compared to last year, amid cautious sentiment from occupiers influenced by global trade challenges and economic uncertainty. Bengaluru led office leasing with a significant 10.5 million sq ft in H1 2026, making up 29% of the overall demand. Hyderabad followed with approximately 7.2 million sq ft, showcasing a remarkable…

IndustryLatest Stories

Uttar Pradesh Secures ₹50,000 Crore in Investment Proposals

NEW DELHI: Uttar Pradesh Attracts ₹50,000 Crore in Investment Proposals During the Uttar Pradesh Global Growth Dialogue 2026 in Bengaluru, the state garnered over ₹50,000 crore in investment proposals, with over 15 companies signing memorandums of understanding with the state government. The investments span various sectors, including industrial and business parks, global capability centers (GCCs), infrastructure, electronics manufacturing, and logistics. Industrial and Business Parks: Horizon, backed by Blackstone, proposed an investment of ₹10,000 crore, while other notable proposals include ₹5,000 crore from Embassy, ₹5,000 crore from Raheja Mindspace REIT, ₹15,000 crore from Prestige, and ₹4,000 crore from Sattva Developers. Shriram…

CommercialLatest Stories

Uttar Pradesh to establish 500 GCC units by 2031: CM

LUCKNOW: Chief Minister Yogi Adityanath has called on global corporations and tech companies to “build the future in Uttar Pradesh”, positioning the state as a potential hub for Global Capability Centres (GCCs), technology investments, and advanced manufacturing. He emphasized Uttar Pradesh’s skilled workforce, improving infrastructure, and investor-friendly policies. While speaking at the Uttar Pradesh Global Growth Dialogue 2026 in Bengaluru, Yogi stated, “The state aims to facilitate 40 million square feet of Grade-A office space and establish 500 GCC units by 2031.” According to Yogi, Uttar Pradesh offers one of the country’s most competitive business environments, backed by over 36…

Latest StoriesRegulatory

Official Suspended for Illegally A-khataing 50 Properties in Bengaluru

BENGALURU: The Bengaluru West City Corporation (BWCC) has suspended assistant revenue officer KS Manjula for allegedly issuing A-khatas for over 50 properties in an unauthorized layout spanning four acres in Herohalli village, Bengaluru North taluk. The suspension order states that the electronic property identification number (EPID) of the property was unlawfully linked to another property while processing the khatas. Additionally, the land is currently involved in litigation, with a city civil court mandating that the status quo be maintained. Manjula, who worked in the Herohalli sub-division, has been suspended immediately while a departmental inquiry is conducted. The order highlights the…

CommercialLatest Stories

GCCs Drive Bengaluru Office Market: Focus on Experience-Led Workplaces

BENGALURU: The commercial real estate market in Bengaluru is entering a more advanced stage, driven by factors such as office absorption quality, employee experience, sustainability, and tech-oriented asset management, industry experts noted on Tuesday. The insights were shared during the RealtyDailyNews Realty & Beyond Summit Bengaluru, focusing on the future dynamics of the city’s commercial real estate sector. The panel featured Shirish Godbole, CEO of Knowledge Realty Trust; Hugh Andrew, CEO of Bagmane Prime Office REIT; Sanjay Gulati, Co-Managing Director & Principal at Gensler; Chirag Boonlia, Chief Technology Officer of Embassy Group; and Gaurav Bhatia, EVP – Asset Management at…