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16 Apr 2025
Arnya RealEstates Fund Advisors has invested INR 130 crore in a new residential project by Casagrand in South Bengaluru, marking its second deal since launching its INR 1,000 crore real estate fund in April 2024. The fund, a SEBI-registered Category II AIF, focuses on early-stage debt investments in top-tier cities. Arnya's latest backing supports initial construction for Casagrand's mid-to-premium housing development. With rising investor interest and consistent housing demand in metros, funds like Arnya are playing a crucial role in bridging early-stage financing gaps. The fund's strategy includes a mix of debt, rental income, and equity investments, with backing from HNIs and family offices.Read more
14 Apr 2025
The Karnataka High Court has upheld the acquisition of 750 acres by the Bangalore Development Authority (BDA) for the expansion of the Banashankari 6th Stage layout in Bengaluru South Taluk. From this land, the BDA developed 5,991 residential sites, of which 4,983 have been allotted to various applicants. Petitioners challenged the revised acquisition area reduced from an initial 1,532 acres as arbitrary and discriminatory. However, the court ruled that the process was transparent and in the public interest, dismissing the writ appeals and confirming that the acquisition adhered to statutory guidelines.Read more
14 Apr 2025
The Bangalore Development Authority (BDA) has given engineers a three-month deadline to complete pending infrastructure in the Shivaram Karanth Layout in North Bengaluru. Spread across 3,540 acres, the layout is expected to offer over 30,000 plots, but only 10,000-17,000 are currently ready. Key works like roads, water pipelines, and drainage remain incomplete in nearly 40% of the layout. Legal issues and unresolved land acquisition disputes have delayed public site allotment, with a court case still pending. A committee is assessing land values for fair compensation. While public interest remains high, allotments will proceed only after legal and administrative clearances are finalized.Read more
10 Apr 2025
42 Estates has made a significant foray into Whitefield's residential landscape with the launch of its luxury villa project, Between The Greens, located in Varthur, Bengaluru. Spanning 9.5 acres, the development will house 137 premium 4 BHK villas designed around modern aesthetics and sustainability. Developed in joint collaboration with SPD and spearheaded by Gaffar P Kandy, the project promises a balance of nature and connectivity. Offering high-end amenities such as dual clubhouses, wellness zones, and recreational facilities, it aims to cater to the growing demand for nature-centric yet connected living spaces near Bengaluru's IT corridors.Read more
08 Apr 2025
Bengaluru's municipal body, BBMP, has introduced a revised property tax calculation method for covered and stilt parking areas under the Unit Area Value (UAV) system. While the update is expected to benefit commercial entities like shopping malls, experts warn it may increase tax liabilities for homeowners. The new structure replaces zonal classifications with a standardised rate-INR 600 monthly for 150 sq ft residential parking. Critics argue that this could lead to double taxation, as parking areas are already included in super built-up calculations. Concerns have also been raised regarding BBMP's lack of regulation on roadside parking.
04 Apr 2025
Italian luxury carmaker Ferrari is set to establish its first official service centre and pre-owned car showroom in South India. Through its Indian dealer, Select Cars Private Limited, Ferrari has leased a 10,000 sq. ft retail space in North Bengaluru, near Kempegowda International Airport, at a monthly rent of INR 8 lakh. The lease agreement, commencing on March 1, 2024, spans 10 years with an annual rental escalation of 4.7% and a security deposit of INR 80 lakh. The facility, split across two floors, will provide after-sales support to Ferrari owners in South India. Currently, Ferrari operates showrooms in Mumbai and Delhi, making this Bengaluru outlet a key expansion move in India.
31 Mar 2025
Approximately 3.49 lakh property owners in Bengaluru have defaulted on property tax payments, accumulating a total debt of INR 390 crore to the Bruhat Bengaluru Mahanagara Palike (BBMP). Of these, 1.73 lakh are chronic defaulters, having consistently failed to pay taxes over several years despite multiple notices and reminders. The highest number of defaulters are in Mahadevapura (81,481), followed by Bommanahalli (57,786) and RR Nagar zones (47,873). BBMP has collected INR 4,604 crore in property tax for the 2024-25 fiscal year, achieving approximately 88.36% of its target of INR 5,210 crore.
31 Mar 2025
The Karnataka government has approved the Bruhat Bengaluru Mahanagara Palike (BBMP) Amendment Bill 2025 to recognize the private layout roads as public roads and address illegal constructions. Deputy Chief Minister D.K. Shivakumar highlighted issues where landowners claim ownership of roads despite selling plots, preventing government acquisition. The amendment ensures public access, prevents disputes, and grants BBMP authority to seal illegal buildings. It also shifts decision-making on levies from the Chief Commissioner to council meetings. The law will later extend to towns and panchayats.Read more
28 Mar 2025
Bengaluru is moving ahead with plans for a second international airport to meet its rising air traffic. The Airports Authority of India will conduct a feasibility study from April 7-9, 2025, on three shortlisted locations: two near Kanakapura Road and one near Magadi-Nelamangala. With KIA projected to reach 92 million passengers by 2033, the study-funded by INR 1.21 crore from KSIIDC-will assess technical and environmental viability. The move anticipates the end of a 150-km exclusivity clause by 2033. Like Mumbai's Navi Mumbai airport and Delhi's Jewar airport, Bengaluru aims to expand capacity in time for its future growth.Read more
28 Mar 2025
Mahadevapura, Bengaluru's tech corridor, has generated INR 928.50 crore in property tax, leading all BBMP zones. However, it also has the highest default amount at INR 32.17 crore or 3.46% of the total demand. Vacant properties contribute to the largest outstanding balance, indicating underutilization. Other zones, such as East, South, and West, also face significant defaults, with a total of INR 156.43 crore uncollected across all zones. The BBMP is facing a INR 390 crore shortfall, with chronic defaulters continuing to evade payments despite multiple enforcement efforts.
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27 Mar 2025
The Bruhat Bengaluru Mahanagara Palike (BBMP) has launched a two-day e-Khata issuance process, allowing property owners to obtain the crucial ownership document quickly through the e-Aasthi portal. This digital initiative eliminates the need for physical visits, enhancing transparency and reducing delays in Bengaluru's real estate sector. With 2.7 lakh e-Khatas already issued out of 2.9 lakh applications, BBMP officials are conducting daily virtual reviews to ensure smooth processing. However, the mandatory shift to e-Khata in October 2024 initially led to a 60% drop in property registrations, delaying INR 8,000 crore in transactions.Read more
27 Mar 2025
Brigade Group, a prominent real estate developer in India, has acquired a 4.4-acre land parcel in Whitefield, East Bengaluru, to launch a premium residential project with a Gross Development Value (GDV) of approximately INR 950 crore. The upcoming development will offer around 0.6 million square feet of residential space, featuring modern amenities and luxury specifications. The project aims to capitalize on Whitefield's excellent connectivity and vibrant social infrastructure, reinforcing Brigade Group's position in Bengaluru's upscale housing segment.
26 Mar 2025
Embassy Developments Ltd (EDL), one of India's leading real estate developers, has signed agreements with Lam Research (India) Pvt Ltd for the sub-lease and eventual divestment of a 25-acre land parcel in Whitefield, Bengaluru. The INR 1,125 crore transaction will close after regulatory approvals. The deal, executed through EDL's subsidiary Embassy East Business Park Pvt Ltd, highlights Bengaluru's appeal as a global technology hub. EDL's portfolio spans residential, commercial, hospitality, industrial, and SEZ developments, with a strong presence across major Indian cities and a reputation for premium, sustainable projects.
25 Mar 2025
Godrej Properties has acquired approximately 10 acres of land in Yelahanka, Bengaluru. The project will include around 1.5 million sq ft of saleable area, featuring primarily residential units along with high street retail, and has an estimated revenue potential of INR 2,500 crore. Earlier, in January 2025, the company secured a 24-acre land parcel in Indore, targeting a saleable area of 6.20 lakh sq ft. Additionally, in July 2024, it acquired a 46-acre plot on Indore-Ujjain Road, further expanding its development footprint.
25 Mar 2025
HDFC Capital, the private equity arm of HDFC Group, has partnered with Bengaluru-based developer Total Environment to create an INR 1,300 crore platform aimed at developing residential projects in Bengaluru. The collaboration will add 6.5 million sq ft of new housing to Total Environment's existing 16 million sq ft portfolio, with a combined gross development value of over INR 10,100 crore to be delivered over the next four to five years. This marks HDFC Capital's fourth investment in Total Environment, reinforcing its strategy of backing leading developers. The partnership focuses on sustainable greenfield projects catering to mid-income and upper-middle-income buyers, aligning with India's 'Housing for All' initiative and ongoing demand for quality homes.
25 Mar 2025
The Bruhat Bengaluru Mahanagara Palike (BBMP) is set to implement a stringent penalty regime for property tax defaulters from the beginning of April. Defaulters will face a 100% penalty on unpaid dues along with an annual interest of up to 15%. This follows the expiry of relaxed provisions under the amended BBMP Act. The civic body has already collected over INR 4,600 crore in property tax for the current fiscal year, achieving 88.36% of its set target. However, with over 1.8 lakh properties still owing taxes, BBMP officials are stepping up enforcement efforts across key zones.Read more
20 Mar 2025
The Bruhat Bengaluru Mahanagara Palike (BBMP) has stepped up efforts to recover pending property taxes as the current financial year draws to a close. The special commissioner for revenue, Munish Moudgil, has instructed zonal officers to prioritize collections from major defaulters across Bengaluru. With INR 4,604 crore collected so far, the civic body has achieved 88.4% of its INR 5,210 crore target for 2024-25. Property owners now face strict penalties, including a 100% penalty and interest of up to 15%, if dues remain unpaid past the end of this month. The BBMP is also initiating enforcement measures such as property seizures.Read more
14 Mar 2025
TCS has announced the acquisition of Bengaluru-based commercial real estate firm Darshita Southern India Happy Homes for INR 2,250 crore. The IT giant plans to use the acquired property as a delivery centre, with the deal structured as a call option to secure full ownership after two years. This move aligns with TCS's strategy of expanding its seating capacity, complementing its earlier acquisitions of TRIL Bengaluru Real Estate Five and Six for INR 1,650 crore. The company balances owned and leased office spaces to manage costs and flexibility. The target firm, originally planned as a residential project, was converted into a commercial office space in FY19 under the name Salarpuria Sattva Knowledge Point.Read more
12 Mar 2025
Bengaluru is undergoing a major infrastructure overhaul to improve urban mobility, reduce congestion, and enhance economic growth. The state government has increased BBMP's annual grant from INR 3,000 crore to INR 7,000 crore, with a Special Purpose Vehicle (SPV) ensuring efficient project execution. Key projects include tunnel roads (INR 19,000 crore), a 40.5 km double-decker flyover (INR 8,916 crore), and a 98.6 km metro expansion. The Bengaluru Business Corridor (INR 27,000 crore) aims to boost commercial activity, while major industrial investments include Foxconn's INR 6,970 crore mobile plant and a Japanese Industrial Park. These initiatives will redefine Bengaluru's urban and economic landscape.Read more
10 Mar 2025
Embassy Office Parks REIT (Embassy REIT) will invest INR 100 crore to develop Bengaluru's Kadubeesanahalli Metro Station on the Outer Ring Road (ORR), enhancing connectivity between Central Silk Board and KR Puram. BMRCL Managing Director M. Maheshwar Rao highlighted the ORR corridor's significance in linking commercial and residential hubs. Embassy REIT's interim CEO, Ritwik Bhattacharjee, reaffirmed its commitment to urban mobility, citing past investments in infrastructure, including a flyover and a pedestrian footbridge. On February 28, 2025, Embassy REIT and BMRCL signed their partnership. The 17-km Metro ORR Project, spanning 16 stations, aims to ease commutes in Bengaluru's key business districts.Read more
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