Tag: Karnataka

Latest StoriesRegulatory

Karnataka HC: Building Plans Must Meet Norms for Approval

BENGALURU: The Karnataka High Court has determined that the regulations applicable to building plan approvals are those in effect at the time of sanction, not at the initial application submission. A single-judge bench, led by Justice Suraj Govindaraj, dismissed a writ petition filed by a property developer who contested the rejection of his building plan by municipal authorities. The developer asserted that his application should adhere to the norms that existed prior to subsequent amendments to the building by-laws. The court rejected this argument, clarifying that the mere act of applying does not confer any vested rights to the applicant.…

Latest StoriesResidential

Houses by Slum Development Board to be Distributed in Hubballi in November

HUBBALLI: The Slum Development Board will distribute a total of 42,346 houses across the state, including Hubballi, at a significant ceremony on November 29, led by Chief Minister Siddaramaiah, as announced by Housing Minister BZ Zameer Ahmed Khan. Minister Khan informed reporters on Sunday that a large venue has been selected for the grand event, covering an area of 17-18 acres, capable of accommodating approximately 150,000 attendees. He highlighted that while previous CM Siddaramaiah approved the construction of 180,000 houses through the Slum Board and an additional 47,863 under the Rajiv Gandhi Housing Scheme, the government faced hurdles during the…

Latest StoriesRegulatory

Karnataka HC Calls for State to Develop Plot Guidelines

BENGALURU: The Karnataka High Court has called on the State Government to create a comprehensive framework to regulate land transactions involving converted lands located outside sanctioned layouts. Justice Sachin Shankar Magadum, while reviewing a writ petition, noted that the increasing number of such transactions necessitates a clear regulatory structure. “With many buyers acquiring sites in converted lands not part of approved layouts, it is crucial for the State to develop a comprehensive scheme to manage these transactions,” the court asserted. The judge emphasized that unless the government establishes appropriate guidelines or a regularisation mechanism under Section 17(2B) of the Karnataka…

Latest StoriesRegulatory

ED Seizes Ozone Urbana Assets Valued at ₹423 Crore in Karnataka

NEW DELHI: The Enforcement Directorate (ED) has attached unsold flats and land valued at over Rs 423 crore belonging to the promoters of a Karnataka-based real estate firm due to allegations of duping homebuyers. This action was taken on Saturday. The measures target Bengaluru-based Ozone Urbana Infra Developers and its primary promoter, S Vadudevan. A provisional order under the Prevention of Money Laundering Act (PMLA) has been issued to attach 92 flats in the Avenue project and 13 flats in the Aqua 2 project, as well as 4.5 acres of commercial land and personal properties belonging to Vasudevan, as stated…

InfrastructureLatest Stories

Citizens Oppose Plan to Cut Bengaluru’s Lake Buffer Zone

BENGALURU: A local citizen group, Bengaluru Town Hall, has approached the Principal Secretary of the Urban Development Department (UDD) to voice their opposition against proposed amendments to buffer zone laws that could significantly diminish these areas. In their memorandum, the civic organization outlined serious concerns regarding the potential threats the new regulations pose to ecology, water security, biodiversity, food security, the environment, and the well-being of residents. Members of the group caution that the proposed bill represents a substantial threat to Bengaluru’s remaining green spaces, might lead to increased pollution in the city’s lakes, could endanger biodiversity, amplify the impacts…

Latest StoriesRegulatory

Tenants Could Face ₹50,000 Fine for Illegal Subletting

BENGALURU: The Karnataka state government has announced major changes to the Rent Control Act of 1999, decriminalizing rental disputes while significantly increasing penalties, which may rise from 900% to 2,500%. The cabinet approved these amendments last week, and they will be presented during the winter session of the legislature in Belagavi. The amendments aim to align the state legislation with the central government’s Jan Vishwas Act, 2025, which decriminalizes minor offences while implementing penalties and warnings. Imprisonment clauses of up to one month related to rental disputes between tenants and landlords will be eliminated. Under the new amendments, penalties for…

Latest StoriesRegulatory

SC affirms right to shelter, offers relief to homebuyers

The Supreme Court has declared that the right to shelter is a fundamental right, emphasizing the state’s duty to protect homebuyers. During the disposal of four appeals on September 12, the Court noted that the right to housing goes beyond contractual obligation, being an essential part of the right to life under Article 21. “Genuine homebuyers form the backbone of India’s urban landscape. Their protection aligns with both constitutional duty and economic policy. The Court aims to restore trust in the regulatory and insolvency frameworks, prevent speculative misuse, and ensure the dream home of India’s citizens doesn’t become a lifelong…

Housing FinanceLatest Stories

Sundaram Home expands to Karnataka, targets ₹60 crore in EB loans

CHENNAI: Sundaram Home Finance has entered the Karnataka market with plans to disburse Rs 60 crore in its first year of operations in the state under its Emerging Business segment. In the initial stage of expansion, the Chennai-based firm intends to open 8-10 branches in Tier II and III towns in Karnataka, according to a press release issued on Tuesday. Sundaram Home Finance is a subsidiary of Sundaram Finance Ltd. The company currently operates over 50 branches in Tamil Nadu and Andhra Pradesh within the Emerging Business segment, having disbursed Rs 200 crore in this category last year. The Emerging…

IndustryLatest Stories

Karnataka Housing Board: 772-Acre Project in Devanahalli

Representative AI image BENGALURU: The Karnataka Housing Board (KHB) has proposed a substantial 772-acre housing development near the Information Technology Investment Region (ITIR) in Devanahalli, in response to the growing residential demand stemming from rapid urbanization and industrial expansion in the area. KHB plans to provide residential plots and affordable housing, particularly targeting economically disadvantaged groups, along with essential infrastructure like roads, water supply, and sanitation services. However, the future of this initiative remains uncertain, following the government’s recent cancellation of the acquisition of 1,777 acres due to farmers’ protests over the loss of fertile farmland. Officials reported that KHB…

Latest StoriesResidential

Karnataka’s Fee Hike Raises Inventory Concerns Amid Slow Sales

BENGALURU: Karnataka’s decision to increase the property registration fee to 2% of the transaction value is set to affect Bengaluru’s housing market, which is already struggling with affordability issues for buyers. The rise in transaction costs for home purchases is steep, with experts warning it may diminish buyers’ confidence in the market. “This change will strain homebuyers’ budgets,” noted Navin Dhanuka, director at ArisUnitern RE Solutions. He added that developers will likely need to adjust project financing to sustain demand, given that significant inventory is expected to enter the market in the coming quarters. Industry estimates suggest that Bengaluru’s housing…