Tag: Bengaluru

IndustryLatest Stories

TVS Emerald Secures ₹425 Crore from IFC for Housing Projects

NEW DELHI: Realty company TVS Emerald has secured Rs 425 crore in equity funding from the International Finance Corporation (IFC) to finance new housing developments. Part of the TVS Group, TVS Emerald announced on Thursday that these funds will assist in the development of two upcoming residential projects, set to launch in the next fiscal year in Chennai and Bengaluru, along with additional projects in the pipeline. The company will allocate Rs 136 crore for the Chennai project and Rs 103 crore for the Bengaluru project. The remaining funds will support further residential ventures over the next two years. The…

InfrastructureLatest Stories

Bengaluru body recovers ₹700 crore in encroached land through 14 demolitions

BENGALURU: The Bangalore Development Authority (BDA) undertook 14 demolition drives from July to December last year, reclaiming encroached properties valued at over ₹704.3 crore throughout the city. These efforts led to the recovery of over 25 acres of encroached land across various regions, including South, North, and East Bengaluru. The BDA demolished unauthorized RCC buildings, sheds, compound walls, and industrial structures that had been illegally erected on lands designated for layouts, roads, and infrastructure projects. The most significant recoveries occurred in JP Nagar 9th Phase, where approximately 12.5 acres, valued at around ₹370 crore, were reclaimed in three phases. Notable…

CommercialLatest Stories

GCCs to Drive 45% of Office Space Absorption in 2025

NEW DELHI: In 2025, Global Capability Centres (GCCs) became the primary demand driver in India’s office sector, representing 45% of total leasing, up from 41% the previous year, as per a report by Vestian. Office spaces occupied by GCCs increased to 34.9 million sq ft in 2025, reflecting a 20% year-on-year growth. This surge was fueled by robust demand from GCCs, bolstered by favorable policy conditions in India and tightened work visa regulations in key international markets. Consequently, overall office absorption in India reached a record 78.2 million sq ft, an 11% increase compared to 2024, despite global economic and…

IndustryLatest Stories

Khata Freeze Leaves Thousands of Bengaluru Properties Stuck

Sure! Here’s a rewritten version of your content: BENGALURU: Property owners within the Greater Bengaluru Authority (GBA) limits face significant challenges in obtaining khata-related services for their properties, as khata bifurcation has been on hold for several years. The process for converting B-khata properties to A-khata has been exceedingly slow, and there are no provisions for khata division, leaving countless citizens with unusable property records. Residents believe that a shift in policy has exacerbated the issue. Previously, the Bangalore Development Authority (BDA) managed khata bifurcation, but this responsibility has since moved to the GBA’s town planning department. Officials assert that…

IndustryLatest Stories

Sobha Q3 FY26 Net Profit Drops by 28.87%

NEW DELHI: Bengaluru-based Sobha reported a 28.87% decline in net consolidated profit for Q3 FY26, ending December 31, 2025. The profit after tax was ₹15.42 crore, compared to ₹21.68 crore in the same quarter of the previous fiscal year, according to a BSE filing. The company’s net consolidated total income for Q3 FY26 was ₹983.10 crore, marking a 21.78% decrease from ₹1,256.87 crore in the same quarter last year. Jagadish Nangineni, the managing director, stated, “Although procedural delays in obtaining occupancy certificates (OCs) have temporarily tempered quarterly profitability, we are optimistic about expediting project completions, which will significantly improve our…

Latest StoriesRegulatory

Bengaluru conducts door-to-door survey for tax dodgers

BENGALURU: The Greater Bengaluru Authority (GBA) has initiated a door-to-door survey aimed at identifying property owners who are evading taxes by submitting false or inaccurate information. Notices have already been distributed to those found in violation. The city has approximately 2.2 million properties subject to property tax, where owners typically pay under a self-assessment scheme. However, many have misreported property details, leading to significant tax evasion, prompting the GBA to conduct a comprehensive field survey to verify all properties. Survey Drive A GBA representative stated, "This survey encompasses the five municipal corporations within Greater Bengaluru, spanning 369 wards. Each ward…

Latest StoriesResidential

548 Families Still Await Allotments in Karnataka CM’s Housing Scheme

BENGALURU: Confusion between the Greater Bengaluru Authority (GBA) and the Rajiv Gandhi Housing Corporation Limited (RGHCL) has left 548 families stranded, despite fully constructed homes awaiting allocation under the chief minister’s Rs 1-lakh multi-storey housing scheme. Nearly 500 beneficiaries who arrived at the RGHCL office on KG Road on Monday to collect possession documents and keys were turned away, as officials stated that the final list of allottees had not yet been provided by GBA. With no update on the resolution, the beneficiaries held a silent protest outside the office. Parashuram Shinnalkar, managing director of RGHCL, stated that the corporation…

IndustryLatest Stories

Puravankara’s Q3 FY26 Pre-Sales Reach ₹1,414 Crore

Here’s a revised version of your content: NEW DELHI: Puravankara reported pre-sales of ₹1,414 crore in Q3 FY26, reflecting a 17% year-on-year increase, while collections rose by 22% to ₹1,140 crore. In the nine months ending December 2025, the company expanded its development portfolio with projects amounting to an estimated gross development value (GDV) of approximately ₹13,900 crore across Bengaluru and Mumbai. The growth included land acquisitions, joint venture agreements, and redevelopment projects, contributing a total potential developable area of 12.76 million sq ft during this period. During Q3 FY26, Puravankara delivered 1.23 million sq ft, equating to 1,116 homes,…

Latest StoriesRegulatory

HC Upholds Land Acquisition for Banashankari VI Stage

BENGALURU: The High Court has upheld the Bangalore Development Authority’s (BDA) acquisition of land for extending Banashankari VI Stage, connecting the existing layout via Kanakapura Road. A division bench, comprising Justice DK Singh and Justice Tara Vitasta Ganju, rejected the appeals filed by K Gangamma and others against a single bench ruling that dismissed their petitions challenging the acquisition of 75 guntas in Gubbalala village. The land was initially notified on November 17, 2002, with the final notification released on September 9, 2003. The appellants argued they were unfairly treated compared to owners of 657 acres and 15 guntas who…

CommercialLatest Stories

Honeywell Leases 400,000 Sq Ft at Ecoworld, Bengaluru

Representative image BENGALURU: Honeywell, a US-based technology giant, has signed a lease for 399,220 square feet of office space at Ecoworld in Bellandur through its Indian subsidiary, Honeywell Technology Solutions Lab, as reported by Propstack. This agreement is among the largest single-tenant leases in the tech corridor of Bengaluru. The office, located in Block 5A of Ecoworld, is owned by Arliga Ecoworld Business Parks. The lease, beginning on January 1, 2026, spans a duration of 84 months (7 years). According to the registration document, “The leased space covers multiple levels, from the ground to the second floor, and also the…