Tag: Mangaluru

CommercialLatest Stories

Mangaluru IT Park tender sees no bids, deadline extended

MANGALURU: The proposed ₹135 crore IT Park in Mangaluru has encountered further challenges, as it remains unable to attract bidders, prompting the government to extend the tender deadline from May 29 to June 19. Sources from the Karnataka State Electronics Development Corporation Limited (Keonics) indicate that there may be further extensions, as there are currently no prospective bidders for the project. During the second round of bidding, Keonics and Credai Mangaluru noted that three interested stakeholders initially engaged but ultimately withdrew, citing several constraints within the tender conditions. This second bidding opportunity was reopened after the first round saw no…

Latest StoriesResidential

Coastal Realty Faces 3BHK Apartment Shortage

MANGALURU: Real estate professionals along the coast are raising concerns about a growing disparity between the expectations of homebuyers and the offerings from developers. The most significant shortfall is evident in the demand for 3BHK apartments priced at Rs 1 crore or below, although certain segments of 2BHK and premium properties are witnessing an oversupply. DB Mehta, president-elect of CREDAI Karnataka, noted that buyers have shifted their preferences towards larger homes post-pandemic. However, new developments have not aligned with these preferences. “The most pronounced mismatch exists in the sub-Rs 1 crore 3BHK segment, where demand remains robust, but the inventory…

CommercialLatest Stories

Karnataka Reopens Tender for Mangaluru IT Park After No Bids

MANGALURU: The state government has reopened bidding for its proposed IT Park in Mangaluru for the second time in five months. The initial round attracted no bidders, raising concerns over the Rs 135-crore project intended for public land. The IT Park is planned on 3.2 acres near Blueberry Hills Road in Derebail as part of the state’s ‘Beyond Bengaluru’ initiative. The tender is being managed by the Karnataka State Electronics Development Corporation (KEONICS). Initially opened on December 15 and closed a month later without interest, the second round of bidding is currently ongoing and will conclude on May 22. Reports…

Latest StoriesRegulatory

Karnataka HC: Sub-registrars must update docs in 4 weeks

BENGALURU: To prevent future litigations once sale deeds are declared void, the Karnataka High Court has established new guidelines for civil and commercial courts, as well as sub-registrars, to update property documents in a timely manner. Justice Sachin Shankar Magadum emphasized that in cases where a registered document related to immovable property is annulled, all civil and commercial courts must send a copy of the decree to the respective sub-registrar within four weeks. This correspondence should include the document number, registration date, book and volume details, and the nature of the annulled document. The decree must be accompanied by a…

Latest StoriesResidential

Mangaluru Sand Shortage Raises House Prices by ₹2 Lakh

MANGALURU: As the monsoon season approaches, construction activities are expected to face delays, leading builders and contractors to rush for sand. This shortage has driven construction costs up significantly, with the price of a standard house rising by around ₹2.25 lakh. Four years after sand mining was restricted in Coastal Regulation Zone (CRZ) areas, contractors are finding it increasingly difficult to stay within budget on their projects. Satish Jogi, vice-president of the Civil Contractors Association, noted during a press conference on Friday that the sand scarcity has persisted for the past three to four years, primarily due to the ongoing…

Latest StoriesResidential

Mangaluru Issues Notices as Sewage Pollutes Moilykere

Representative image MANGALURU: The Mangaluru City Corporation (MCC) has issued notices to residences and apartments near the historic Moilykere lake at Mahakalipadpu, following the discovery of sewage flowing into the water body from surrounding areas. Known also as Shettibettu Kere, Moilykere was developed by the Mangaluru Urban Development Authority (MUDA) but continues to face pollution issues even after being transferred to the MCC. The civic body plans to take legal action under the Karnataka Municipal Corporations Act of 1976. The pollution problem was brought to light in the state legislature by MLC Ivan D’Souza, who highlighted it during a discussion…

Latest StoriesRegulatory

Mangaluru civic body collects ₹149.6 crore in property tax FY26

MANGALURU: Mangaluru City Corporation (MCC) has achieved its highest property tax collection to date, amounting to Rs 149.6 crore under the Self-Assessment Scheme (SAS) for the financial year 2025-26, according to commissioner Ravichandra Naik. In a statement to the press, Naik mentioned that the estimated demand for the fiscal year was Rs 112 crore, with previous collections of Rs 137 crore in 2024-25 and Rs 117 crore in 2023-24. The city, divided into 60 wards, encompasses a total of 2,22,256 properties, comprising 1,75,724 residential units, 44,074 commercial properties, 1,175 industrial properties, and 1,283 non-residential properties. Naik noted that the rise…

InfrastructureLatest Stories

Mangaluru to Build C&D Waste Unit at Pachanady

Representative AI image MANGALURU: The rampant dumping of construction and demolition (C&D) waste in vacant lots and rivers continues in the city. In response, the Mangaluru City Corporation (MCC) is considering reserving land at Pachanady for effective C&D waste management. To curb violations, MCC officials have convened multiple meetings and agreed to establish a facility at the Pachanady dump yard for C&D waste management. Builders will be required to pay a fee for using this facility. In addition, the MCC plans to implement strict penalties to deter C&D waste dumping in public spaces. DC Darshan HV, who oversees the MCC,…

Latest StoriesRegulatory

Mangaluru Launches Campaign to Enhance Property Tax Collection

Representative AI image MANGALURU: The Mangaluru City Corporation (MCC) has initiated a campaign aimed at enhancing property tax collection to boost revenue. A campaign vehicle was launched recently to facilitate drives for collecting overdue payments. MCC Commissioner Ravichandra Naik announced that the Self-Assessment Scheme (SAS) property tax will experience a 3% increase in accordance with government regulations. He urged residents to pay their property taxes punctually each year. The MCC raises property tax annually by 3% based on the market value set for 2023-24. For the fiscal year 2025-26, as directed by the administrator and Deputy Commissioner Darshan HV, this…

InfrastructureLatest Stories

Mangaluru Apartments Turn Wet Waste into Compost, Boost Income

Representative AI Image MANGALURU: Numerous apartment complexes in the city are implementing sustainable waste management techniques by converting household wet waste into organic compost. This approach not only decreases the amount of waste sent to landfills but also generates a modest revenue stream for resident welfare associations. Many apartments are investing in Organic Waste Composter (OWC) machines that can transform wet waste into compost within a day. The produced compost is sold to residents and others. While machine-based composting is on the rise, several residential complexes still use traditional vermicomposting, which takes several weeks to complete. At Canopy, a luxury…