Tag: Bengaluru

IndustryLatest Stories

Godrej Properties buys 20-acre site in Bengaluru

NEW DELHI: Godrej Properties (GPL) has completed the acquisition of a 20-acre land parcel in East Bengaluru, as reported in a filing to the BSE. The company intends to develop a premium residential project on this site, with an estimated revenue potential of around ₹1,350 crore. Additionally, GPL has recently acquired a 44-acre land parcel in Coimbatore through an outright purchase, aiming to develop a premium plotted residential project with a developable area of 1.1 million sq ft and an estimated revenue potential of ₹450 crore. This marks GPL’s entry into the Coimbatore market. Published on Mar 18, 2026 at…

CommercialLatest Stories

WeWork India to add 4,100 desks in Bengaluru with ₹60 crore

NEW DELHI: WeWork India Management has finalized two lease agreements in Bengaluru to enhance its flexible workspace offerings, adding over 4,100 desks across more than 246,000 sq ft of office space, as stated in a regulatory filing. The company has secured leases for 95,351 sq ft and 151,201 sq ft of space in separate transactions, with operations expected to commence by June 2026. WeWork plans to invest around ₹60 crore: ₹28 crore for the first facility and ₹32 crore for the second, funded through a combination of internal resources and debt. This expansion will introduce approximately 1,829 desks in one…

Latest StoriesRegulatory

ED Raids Mantri Developers’ Offices and Homes in Bengaluru

BENGALURU: The Enforcement Directorate (ED) conducted search operations on Monday at the residential and office premises of Mantri Developers Private Limited and its directors in Bengaluru, relating to a money laundering investigation, officials reported. The searches are being executed under Section 17 of the Prevention of Money Laundering Act (PMLA). The operation began around 8 AM, led by a team from the ED’s Delhi office, as part of an ongoing probe into alleged financial irregularities tied to the company. According to officials, multiple ED teams simultaneously searched various residential and office locations associated with the real estate firm and its…

Latest StoriesRegulatory

ED Names Valmark Realty Director in TDR Scam Involving Bengaluru Officials

BENGALURU: The Enforcement Directorate (ED) has filed a prosecution complaint in connection to a Transferable Development Rights (TDR) scam involving the director of Valmark Realty Holdings Private Ltd (VRHPL) along with 19 other accused, including former employees of the Bruhat Bengaluru Mahanagara Palike (BBMP). The investigation, initiated based on an FIR lodged by the Anti-Corruption Bureau (ACB) in 2019, claims that VRHPL’s director, Ratan Lath, acquired development right certificates (DRCs) and unlawfully sold TDRs to various real estate companies and individuals, netting illicit profits of approximately ₹27.7 crore. According to a press release from the ED, TDR brokers K Suresh,…

IndustryLatest Stories

Finance Panel Urges Karnataka to Allow Monthly Property Tax EMIs

BENGALURU: The 5th State Finance Commission has put forth a proposal for property tax payments to be made in installments (EMIs) alongside the introduction of amnesty and incentives to motivate property owners to settle outstanding tax dues. The commission’s report, presented in the legislative assembly on Wednesday, dedicates a chapter to reforming property tax to enhance collection efficiency within the city. These recommendations arrive as government officials have initiated drone surveys of properties in the Greater Bengaluru Authority (GBA) to identify tax defaulters. Estimates suggest that dues across GBA’s five corporations reach into the lakhs. Bengaluru is home to 20.5…

IndustryLatest Stories

IPO Surge Among Developers Shows Improved Governance, Needs Careful Expansion: Brigade Group’s Founder

File Photo NEW DELHI: India’s residential real estate market is experiencing a robust post-pandemic uptrend, characterized by a noticeable shift towards premium offerings, enhanced affordability, and increased buyer ambitions, according to M. R. Jaishankar, founder and executive chairman of Brigade Group. However, he emphasizes that the most enduring demand lies within the mid-income and mass housing segments. In an exclusive interview with Ankit Sharma, Jaishankar expressed optimism about the sector’s long-term trajectory, supported by rising incomes and economic growth. He stressed the necessity for developers to exercise restraint in their expansion plans and called for a reassessment of the affordable…

Latest StoriesResidential

Bengaluru PGs Face LPG Shortage, Tenants Opt for Work-from-Home

BENGALURU: A shortage of commercial LPG is impacting paying guest (PG) accommodations in the city’s eastern IT corridor, leading many residents to consider work-from-home options due to concerns about food availability. Numerous migrant professionals living in PGs report that limited meal offerings and uncertainty regarding cooking gas are making it challenging to maintain daily routines. Areas such as Whitefield, Marathahalli, and Ashwath Nagar—which accommodate hundreds of migrant workers in tech parks—are experiencing dwindling LPG supplies, prompting PG owners to cut back on meal services. The Whitefield PG Owners’ Welfare Association has notified residents that lunch services will be temporarily halted…

Latest StoriesRera

Bangalore Development Body Promotes: Karnataka REAT

BENGALURU: The BDA must adhere to all regulations outlined in the Real Estate (Regulation and Development) Act, including project registration, as it is classified as a promoter when developing layouts and selling plots. This observation was made by the Karnataka Real Estate Appellate Tribunal in its March 3 ruling, which upheld K-Rera’s directive regarding the Nadaprabhu Kempegowda Layout (NPKL). However, BDA officials have indicated to TOI that they plan to challenge the tribunal’s decision in the high court. The case originated from a K-Rera order dated November 7, 2025, following complaints by allottees of the NPKL project. K-Rera addressed these…

Latest StoriesRegulatory

Bengaluru issues final warning to 1,010 property tax defaulters

BENGALURU: The Greater Bengaluru Authority (GBA) has issued a final warning to property owners who are overdue on their property taxes, with a total of Rs 33.9 crore pending from 1,010 property owners across the five city corporations. Special Commissioner (Revenue) Munish Moudgil stated that Rs 14.3 crore is owed by 510 significant defaulters, while Rs 19.6 crore is awaiting resolution in 500 property tax reassessment cases. “Zonal joint commissioners have been directed to accelerate the recovery from major defaulters and those in reassessment. The list of the top 50 defaulters and reassessment cases for each municipal corporation is now…

IndustryLatest Stories

Puravankara to Co-Develop Four Acres in Bengaluru

Representative Image NEW DELHI: Puravankara Group has commenced a joint development project on a four-acre land parcel located on Hennur Road in Bengaluru, with a projected gross development value (GDV) exceeding ₹1,300 crore. Ashish Puravankara, the company’s managing director, stated, “This joint venture is in line with our strategy of leveraging asset-light partnerships in high-potential micro-markets, while providing thoughtfully designed homes that meet the needs of modern urban living.” The land parcel offers a total saleable area of approximately 0.84 million sq ft, and the company anticipates launching it in the next six to twelve months. Earlier this year, Puravankara…