Tag: Bengaluru

Latest StoriesRera

Bangalore body to pay ₹56L interest for Kempegowda delays

BENGALURU: The Karnataka Real Estate Regulatory Authority (K-Rera) has instructed the Bangalore Development Authority (BDA) to pay ₹56 lakh in interest to complainant Mridula Krishnapur for delays in providing basic amenities at the Nadaprabhu Kempegowda Layout (NPKL). This decision marks a significant setback for the BDA, whose NPKL project was previously flagged as lapsed by K-Rera last year. The authority also determined that BDA qualifies as a ‘promoter’ under the Rera Act, holding it accountable for any delays and inadequacies. Mridula had purchased a site in the 8th Block of Sector-B of NPKL in Kengeri hobli for ₹96.9 lakh under…

Latest StoriesResidential

Housing Supply Rises 10%, Prices Up 14% in Q1 2026 Report

NEW DELHI: According to Magicbricks’ PropIndex report, India’s residential real estate market saw a 10.1% year-on-year increase in housing supply during Q1 2026. Property prices also rose by 14.1% across major cities. Active listings in 13 key cities increased by 6.8% from the previous quarter and 10.1% year-on-year, surpassing 1.1 lakh units during January-March. The average residential price has climbed to ₹14,633 per sq ft. However, demand exhibited a slight decline on a sequential basis, dropping 2.2% quarter-on-quarter. Annually, demand remained stable, with a 1.5% increase, totaling approximately 31.7 lakh units. At the city level, demand trends differed—Noida, Chennai, and…

Latest StoriesRera

Karnataka RERA Resolves Complaints on Kempegowda Layout Issues

BENGALURU: The Nadaprabhu Kempegowda Layout (NKPL) project has once again come under scrutiny from Karnataka Rera, as several allottees have lodged complaints against the BDA regarding delays in unit handovers. Unfortunately, these complaints were dismissed due to inadequate documentation. The situation arose when allottees requested refunds along with interest. Upon reviewing the claims, the authority noted that crucial documents—such as sale agreements, construction agreements, payment receipts, and account statements—were missing from the submissions. The authority emphasized the need for a thorough examination of contractual terms, payment records, commitments timelines, and any breaches. Without these documents, it cannot ascertain the exact…

IndustryLatest Stories

Brigade Group to Jointly Develop 8.63 Acres in East Bengaluru

Representative AI image NEW DELHI: Brigade Group has entered into a joint development agreement (JDA) for an 8.63-acre site in Gunjur, East Bengaluru. This is part of a larger 39-acre development primarily aimed at creating a substantial residential township, estimated to have a gross development value (GDV) of around ₹7,200 crore. The township’s overall land acquisition is being executed through a mix of outright purchases and joint development agreements, with the recent signing of the 8.63-acre JDA marking an important step forward for the larger master-planned project. BCV Developers, a subsidiary of Brigade Group, has signed a deal with Hyatt…

Latest StoriesResidential

Karnataka to Create Private-Style Layouts for SC/ST Groups

BELAGAVI: The state government has launched the ‘Buddha, Basava, Ambedkar Site Allotment Scheme’ to create residential layouts comparable to private developments. The scheme aims to develop fully serviced layouts with complete infrastructure, providing residential sites to individuals from Scheduled Castes (SC) and Scheduled Tribes (ST) throughout the state. During the announcement, Public Works and Belagavi district in-charge Minister Satish Jarkiholi shared that the initiative will commence as a pilot project spanning 1,000 acres. After paying tribute to Dr. Babasaheb Ambedkar’s statue on his birth anniversary at Dr. B R Ambedkar Park in Belagavi, the minister emphasized that this is a…

IndustryLatest Stories

Waste Charges Delay Property Tax Payments in Bengaluru Apartments

BENGALURU: Large apartment complexes are typically quick to pay their annual property tax to the Greater Bengaluru Authority (GBA) when the payment portal opens in April. However, this year’s response in the first two weeks has been surprisingly slow. The confusion arises from unclear definitions and calculations surrounding bulk waste generators, hindering early tax payments. There is ongoing confusion about solid waste management (SWM) charges, especially for apartment complexes that produce over 100 kg of waste per day. Although bulk waste generators can qualify for exemptions, they must declare their status on the property tax portal, which is proving to…

IndustryLatest Stories

Puravankara’s Sales Soar 55% to ₹7,407 Crore in FY26

NEW DELHI: Puravankara reported a remarkable 190% year-on-year increase in sales, reaching ₹3,547 crore for the March quarter. This brings the company’s total sales for FY26 to ₹7,407 crore, a 55% rise compared to the previous fiscal year. Quarterly collections amounted to ₹1,213 crore, reflecting a 36% growth from last year, while total collections for FY26 rose by 15% to ₹4,258 crore. The company sold 7.25 million sq ft during the year, marking a 28% year-on-year increase, with average realization climbing 21% to ₹10,213 per sq ft. In the March quarter, realizations surged to ₹11,787 per sq ft. During FY26,…

IndustryLatest Stories

AstraZeneca India to sell 64-acre Bengaluru site for ₹3,400 Cr

Representative AI image BENGALURU: AstraZeneca’s Indian arm plans to sell its 64-acre manufacturing facility in North Bengaluru as part of a review of its global supply and manufacturing network by its UK-based parent company. The land, estimated to garner around ₹3,400 crore for AstraZeneca Pharma India, has attracted interest from developers such as Sattva Group, Aurobindo Pharma, and RMZ. This sale is part of a broader land monetization initiative. A source indicated, “AstraZeneca has shortlisted three potential bidders and plans to finalize the deal soon.” The land, located in a prime area of North Bengaluru, is valued at over ₹53…

IndustryLatest Stories

Prestige Estates’ Pre-Sales Surge 76% to ₹30,024 Crore in FY26

NEW DELHI: Prestige Estates Projects Ltd reported a 10% increase in pre-sales, reaching ₹7,697 crore in the fourth quarter of the previous fiscal year, driven by strong demand for its residential properties. The company’s latest operational update reveals a record pre-sales figure of ₹30,024 crore for the 2025-26 fiscal, marking a 76% rise compared to the previous year. Irfan Razack, Chairman and Managing Director, highlighted the strong year-end, noting consistent sales momentum throughout the year and a solid finish in Q4. He mentioned, “Demand in our key markets has remained positive, and our emphasis on quality, location, and timely delivery…

IndustryLatest Stories

Layout Approvals Reflect Bengaluru’s Evolving Growth

Representative AI image BENGALURU: The evolution of the city’s urban sprawl is evident not just in its changing skylines but also in its developmental layouts. Data from the Bangalore Development Authority (BDA) highlights how the city’s growth trajectory has shifted over the past fifty years in response to changes in land use, job availability, and infrastructure. From 1972 to 2025, the BDA has approved 1,017 layouts. In the early years, development was concentrated in southern Bengaluru, which still represents 40-43% of all approved layouts. Areas like Uttarahalli, Begur, and Kengeri emerged as primary hubs for planned expansion, attributed to their…