Tag: Bengaluru

Latest StoriesRegulatory

Bengaluru property tax receipts at ₹4,047 crore, 40% below target

BENGALURU: Property tax collection in the city has once again fallen short this financial year, highlighting ongoing compliance issues even as enforcement efforts are ramped up. With only days remaining in the 2025-26 fiscal year, the collections have reached Rs 4,047.7 crore against a target of Rs 6,700 crore, resulting in a shortfall of over Rs 2,652 crore and an overall realization of approximately 60%. The target includes outstanding amounts from previous years. As of March 20, Rs 4,047.7 crore has been collected, comprising Rs 3,286 crore in property taxes for this fiscal year, along with Rs 761.7 crore in…

Latest StoriesResidential

Karnataka Plans Vertical Growth Ordinance for Apartment Residents

BENGALURU: In a significant move towards vertical growth, the government announced on Thursday its plan to implement the Karnataka Apartment Ownership and Management Act 2025 (KAOMA) and will soon issue an ordinance, a decision set to benefit numerous apartment residents. During a debate on urban development in the assembly, Deputy Chief Minister DK Shivakumar stated that the ordinance would follow discussions with stakeholders and legislators. BJP members, led by opposition leader R Ashoka, highlighted the long-standing demand among apartment residents for this legislation. Acknowledging this, Shivakumar remarked, “If it weren’t for a few clarifications, we would have already introduced the…

InfrastructureLatest Stories

34% of Karnataka’s 72 Lakh Homes Lack Tap Water: CAG

BENGALURU: Karnataka has not provided tap water connections to 24.5 lakh rural households—34% of the goal of 72.1 lakh—well past the March 2024 target, according to a report by the Comptroller and Auditor General of India (CAG) presented in the legislative assembly on Tuesday. The audit, covering 2019 to 2024 in seven districts, highlighted deficiencies in planning, execution, financial management, and water quality monitoring, which undermine the mission’s goal of achieving Har Ghar Jal. At the state level, inconsistent departmental participation impacted synergy with initiatives like Swachh Bharat Mission (Grameen) and Pradhan Mantri Krishi Sinchayee Yojana. While some villages proposed…

InfrastructureLatest Stories

Bengaluru Apartments Illegally Dump Sewage into Lake

Representative image BENGALURU: The Karnataka State Pollution Control Board (KSPCB) has issued show-cause notices to six apartment complexes and an educational institution in Anekal for polluting Shikaripalya Lake. The affected properties include Sarovar Apartment, Shree Nandana Elite Apartment Residents Welfare Association, Sree Balaji Nest Apartment, Thirumala Residency Apartment Residents, Happy Home Vivasvan Resident Association, Happy Home 2, and Zia Academy. According to KSPCB, these apartments and the institution lack sewage treatment plants, resulting in domestic sewage being discharged directly into the lake. The Board identified several contributing factors to the pollution of Shikaripalya Lake, including sewage flowing through stormwater drains,…

IndustryLatest Stories

Puravankara to Launch 30 Projects Worth ₹55,000 Crore Soon

NEW DELHI: Puravankara is set to unveil 30 residential projects in the next 24 months across South India and Mumbai, aiming for a gross development value (GDV) exceeding ₹55,000 crore. The forthcoming pipeline encompasses around 51.14 million sq ft of developable space. Most projects are currently in the approval phase, while others are still in design, with approvals expected to commence shortly. This expansion occurs amidst consistent demand in the residential market. For the first three quarters of FY26, the company reported pre-sales of ₹3,859 crore and customer collections totaling ₹3,045 crore. Ashish Puravankara, the managing director, remarked, “As we…

CommercialLatest Stories

WeWork India Invests ₹31 Crore for 81,166 Sq Ft in Bengaluru

NEW DELHI: WeWork India Management has secured an additional 81,166 sq ft in Bengaluru to enhance its flexible workspace offerings as part of its expansion plans. The new lease is anticipated to accommodate approximately 1,256 desks, with operations expected to begin by May 2026. The company intends to invest around ₹31 crore in this project, which will be financed through internal resources and debt. Additionally, WeWork has expanded its footprint in Pune with a new leave and license agreement for 41,621 sq ft, following a previous agreement for 1,62,665 sq ft made in February 2026. This latest expansion in Pune…

IndustryLatest Stories

Embassy Developments’ Subsidiary Ordered to Surrender 78 Acres in Bengaluru

Representative image NEW DELHI: Embassy East Business Park (EEBP), a subsidiary of Embassy Developments, has received an order from the Karnataka Industrial Areas Development Board (KIADB) to surrender possession of a 78-acre land parcel in Bengaluru within 30 days, according to a BSE filing by the company. The order, dated March 16, 2026, concerns land located in the Kadugodi Industrial Area, which EEBP has held under a lease-cum-sale agreement executed in June 2007, set to remain in effect until June 2029. KIADB has invoked provisions under section 34B of the Karnataka Industrial Areas Development Act, 1966, claiming a breach of…

CommercialLatest Stories

Embassy REIT Aims for 13M sq ft in Acquisitions to Boost Income

BENGALURU: Embassy Office Parks REIT, India’s first publicly listed real estate investment trust, is assessing a pipeline of 12-13 million sq ft, with around 4 million sq ft from its sponsor, as it aims to expand its portfolio and improve long-term income visibility. This decision comes after raising Rs 9,800 crore in capital during FY26 and establishing a Rs 4,000 crore development pipeline, positioning the REIT to acquire yield-accretive, income-generating Grade A assets. The trust’s real estate portfolio surpasses 50 million sq ft. “We are actively assessing a pipeline of approximately 12-13 msf… Inorganic growth will continue to be crucial…

Latest StoriesRera

Karnataka: 4th in India for RERA Complaints with 12,772 Cases

BENGALURU: Karnataka is emerging as a dynamic player in the Indian real estate market, demonstrated by an active project pipeline and increased engagement from homebuyers within the grievance-redressal system. The number of complaints registered under the Real Estate (Regulation and Development) Act (RERA) highlights the growing disputes that often accompany new developments. According to the latest RERA report, released on March 9 and covering data from 2016 to 2026, Karnataka ranks fourth in the country for complaints, with a total of 12,772 cases filed and 10,322 resolved, reflecting an over 80% resolution rate, nearly matching the national average. Ramachandra CH,…

IndustryLatest Stories

Karnataka Seeks Taller Building Norms Near Bengaluru Airports

File Photo BENGALURU: Deputy Chief Minister of Karnataka, DK Shivakumar, has requested the Centre to reevaluate and ease height restrictions for buildings near essential aviation facilities in Bengaluru, emphasizing their influence on urban development and real estate. Following his meeting with Union Civil Aviation Minister Kinjarapu Ram Mohan Naidu, Shivakumar stated that the state aims to have similar building height allowances as cities like Hyderabad and Mumbai, which permit taller structures, according to a government release. “We discussed raising the building height limits in Bengaluru. Builders are hesitant to invest in premium Floor Area Ratio (FAR) because of these restrictions.…