07 Mar 2025

The Bangalore Development Authority (BDA) has announced a 24-month timeline for asphalting inner roads in Nadaprabhu Kempegowda Layout (NPKL), despite claims that 80% of the work is complete. Residents, already facing years of delays, question the extended deadline. Similar infrastructure delays plague Peripheral Ring Road and Kempegowda International Airport Expansion, raising concerns over Bengaluru's urban planning. With over 12 million citizens, the city's infrastructure struggles continue, prompting calls for faster project execution. Election pressure may accelerate progress, but skepticism remains.Read more

06 Mar 2025

The Karnataka government will hold a key meeting this Friday, led by Deputy CM DK Shivakumar and Minister MB Patil, to address land acquisition delays for Bengaluru Metro's Phase 3 and the Multi-Modal Transport Hub in Hebbal. Despite talks since October 2023, the transfer of 45 acres remains unresolved, potentially due to real estate interests. Delays in Peripheral Ring Road, Kempegowda Airport expansion, and Bangalore Suburban Railway Project highlight broader land acquisition challenges. The outcome of this meeting could determine the pace of Bengaluru's infrastructure growth and set a precedent for future projects.Read more

03 Mar 2025

After nearly two decades, the BBMP has revised rental rates for shops at the Netaji Subhas Chandra Bose Public Utility Building (PUB) on MG Road, resolving a long-standing dispute with tenants. The new rates, effective from January 1, 2014, set rents at INR 59 per sq. ft. for ground-floor shops and INR 39 per sq. ft. for basement and first-floor spaces. Of the 88 tenants, 50 have agreed, while others are still negotiating. BBMP is firm on enforcement, sealing four shops for non-payment. This move aligns with broader plans to reassess commercial rents across Bengaluru's government-owned properties.Read more

03 Mar 2025

The Bangalore Water Supply and Sewerage Board (BWSSB) will publish builder payment records for Cauvery water connections in response to complaints from apartment residents. Many builders collected charges from buyers but failed to pay BWSSB, leaving homebuyers without promised connections. The board's website will list compliant and defaulting builders, allowing homeowners to verify payments. BWSSB will mediate settlements, but buyers can take legal action if builders refuse to pay. Additionally, a three-member panel has been formed to address complaints against overcharging plumbers. These steps aim to enhance transparency and accountability in Bengaluru's real estate and water supply sectors.Read more

28 Feb 2025

Morgan Stanley Advantage Services is expanding its Bengaluru footprint with a 1.2 million sq ft office campus along the Outer Ring Road, set to accommodate 12,000 employees. Bengaluru, India’s top city for office leasing, recorded 21.8 million sq ft transactions in 2024, with 27% of India’s total office leasing. The city’s infrastructure, skilled workforce, and green-certified spaces attract global firms like Chevron, which is investing USD 989 million in an R&D hub. Morgan Stanley is also expanding in Mumbai with 86,000 sq ft at Altimus Worli. India’s GCC market is projected to grow to USD 100 billion by 2030.Read more

28 Feb 2025

TVS Emerald has acquired a 10-acre land parcel in Sathnur, Bengaluru, with a development potential of 1.4 million sq ft and an estimated revenue of INR 1,600 crore. This marks the company's fourth land deal this fiscal, bringing its total potential revenue to INR 5,300 crore. Bengaluru's real estate market is witnessing major acquisitions, with Macrotech Developers securing a 20-acre parcel for INR 2,800 crore and Mahindra Lifespaces buying 8.2 acres for INR 1,000 crore. Puravankara has also acquired land in Vajrahalli for INR 700 crore. The city's booming infrastructure and demand continue to attract major investments.Read more

25 Feb 2025

The presence of Global Capability Centres (GCCs) of multinational corporations has been expanding in India's office space market over the past few years. According to ANAROCK Research, the top seven cities recorded over 141.43 million sq. ft. of gross leasing in 2023 and 2024, with GCCs contributing 52.88 million sq. ft., accounting for more than 37% of the total share. Bengaluru led the market with a 46% share, followed by Hyderabad with 19%. The increasing economic influence of India, infrastructural advancements, and government policies such as 'Make in India' have contributed to this surge in demand. Moreover, the growing focus of GCCs beyond the IT/ITeS and BFSI sectors into engineering and manufacturing is further driving market expansion.Read more

24 Feb 2025

Google has opened its expansive new campus, Ananta, in Mahadevapura, Bengaluru. With a seating capacity for over 5,000 employees across divisions including Android, Cloud, and DeepMind, the campus emphasizes collaboration and individual work with diverse, accessible workspaces. Constructed using local materials, Ananta incorporates eco-friendly technologies such as water recycling, rainwater harvesting, and smart photochromic and electro-chromic glass. Google's expansion in Mumbai with premium leased spaces further underscores the company's investment in India's digital future, creating significant real estate news for the property market India and driving innovation globally.Read more

20 Feb 2025

BBMP is launching an initiative to deliver draft khatas to property owners in Bengaluru, aiming to make it easier for residents to obtain their e-khata certificates without needing to visit civic agency offices. The initiative, which is expected to launch soon, targets 23 lakh residents who have not yet accessed their property records due to technical challenges or lack of awareness. While the delivery of draft khatas will improve accessibility, challenges with the final issuance of e-khatas remain.Read more

17 Feb 2025

Nexus Select Trust has acquired Vega City Mall, a 96% leased shopping center in South Bengaluru, strengthening its retail presence in the city. The acquisition, completed at 10% below valuation, is expected to generate a Retail Net Operating Income of INR 78 crore and boost Net Distributable Cash Flow by INR 20 crore after debt servicing. Funded through non-convertible debentures at a 7.70% coupon rate, the deal keeps Nexus's Loan-to-Value (LTV) ratio at 17%. CEO Dalip Sehgal emphasized the mall's prime location and potential for leasing, operational, and marketing synergies, reinforcing Nexus's growth strategy in India's retail market.Read more

13 Feb 2025

The BBMP is launching 1,000 e-khata kiosks across Bengaluru to simplify property registration and reduce a backlog of 1.4 lakh pending applications. Currently, only 1.6 lakh out of 22 lakh properties have obtained e-khatas. These kiosks will be operated by volunteers who have successfully registered their e-khatas and can assist neighbors in uploading documents through BBMP's system. A nominal fee will be charged for the service. The first kiosk will open in HRBR Layout next week. BBMP is also improving its online portal to enhance accessibility, aiming to ease Bengaluru's rapid urban expansion challenges.Read more

13 Feb 2025

Plastic pollution remains a critical global challenge, with 430 million metric tonnes produced annually, of which less than 10% is recycled. In India, rapid urbanization and inadequate waste management have led to increased plastic accumulation in landfills and waterways. Prestige Group has taken a significant step toward sustainability by incorporating plastic waste into road construction at Great Acres, The Prestige City, Sarjapur. Inspired by Dr. R. Vasudevan's technique, the project integrates shredded plastic with bitumen, enhancing road durability while reducing plastic waste. Covering 7.17 km, this initiative serves as a scalable model for sustainable urban infrastructure worldwide.Read more

06 Feb 2025

BBMP has launched an auction drive targeting 608 properties across eight zones due to INR 20 crore in unpaid property taxes. This follows its recent success in tax recovery, where four property owners cleared INR 1 crore before a scheduled auction. The move raises concerns among property owners, as legal challenges and market implications come into play. BBMP is intensifying enforcement by sending SMS alerts alongside physical notices, while also expanding its focus beyond commercial properties. With INR 400 crore still pending in tax dues, the civic body's crackdown highlights a shift in strategy, sparking discussions on policy reforms and alternative tax collection methods.Read more

03 Feb 2025

The CAG's latest audit has found that BMTC has failed to protect 521 acres of its land from encroachment, despite recognising the issue as early as 2008. Out of BMTC's 1,400-acre land bank in Bengaluru Urban district, 653 acres remain vacant, with nearly 80% of it at risk. Various government agencies have taken over portions for schools, offices, and housing schemes. Efforts to fence off the land began only after the audit, but progress has been slow. The transport minister has assured that steps are being taken to safeguard these plots, but legal disputes and financial constraints continue to pose challenges.Read more

03 Feb 2025

Bengaluru's urban infrastructure is set for major upgrades with Phase 3 of the Metro scheduled for completion by December 2029, covering 44.65 km across two key corridors at a cost of INR 15,611 crore. Complementing this, the BDA plans to allocate 30,000 housing units, with 10,615 flats already completed and 14,909 under construction. The city is also strengthening traffic management through AI-based ASTRAM systems and enhancing public safety with vehicle tracking under the Nirbhaya Fund. Meanwhile, Karnataka's revised policies aim to simplify mining leases and attract investments via its Global Capability Centre Policy 2024-29, reinforcing Bengaluru's tech hub status.Read more

31 Jan 2025

The Bengaluru Development Authority (BDA) reclaimed property worth INR 120 crore in Malagala village, Nagarabhavi Layout, which had been illegally occupied for over two decades. The land, owned by BDA, had been claimed by an individual as his ancestral property, and unauthorized structures were constructed. This move is part of BDA's broader effort to address widespread land encroachments in the city. The action follows a similar demolition drive in the Machohalli area of Nagarabhavi Layout, where several illegal structures were removed last week.Read more

30 Jan 2025

Birla Estates (BEPL), a subsidiary of Aditya Birla Real Estate, has partnered with Mitsubishi Estate Co. (MEC) to invest INR 560 crore in a residential project in Southeast Bengaluru. The joint venture, structured as an SPV with BEPL holding a 51% stake and MEC's affiliate MJR Investment Pte. (MIPL) owning 49%, will develop four million sq. ft. of premium housing. This marks MEC's first entry into the Indian real estate market. The collaboration reflects Bengaluru's strong housing demand, driven by its growing IT sector and infrastructure development, and signals rising foreign investor interest in India's real estate sector.Read more

29 Jan 2025

Bangalore Metro Rail Corporation Limited (BMRCL) has initiated the land acquisition process for Namma Metro Phase 3, covering 38.65 km with an estimated cost of INR 15,611 crore. The project includes two corridors: JP Nagar Phase 4 to Kempapura (32.15 km) and Hosahalli to Kadabagere (12.5 km). Around 1,29,743 sq. meters of land will be acquired, impacting 777 private properties, with an allocation of INR 1,900 crore for compensation. The metro expansion aims to serve 7.28 lakh daily passengers by 2028, featuring double-decker viaducts and improved connectivity across key interchange stations such as Peenya, Hebbal, and Mysuru Road.Read more

29 Jan 2025

The Bruhat Bengaluru Mahanagara Palike (BBMP) will auction four properties with outstanding tax dues totaling INR 2.52 crore, following repeated warnings to owners. Auctions will take place on February 5 for an East Zone property with arrears of INR 11 lakh and on February 6 for properties in Dasarahalli and Bommanahalli Zones, with dues ranging from INR 30 lakh to INR 1.8 crore. Conducted under Section 156(5) of the BBMP Act 2020, the initiative aims to recover unpaid taxes and enforce compliance. Property owners can avoid auction by clearing dues before the scheduled dates. More than 500 additional auction notices are expected in the coming weeks.Read more

28 Jan 2025

The Bruhat Bengaluru Mahanagara Palike (BBMP) has collected INR 4,370 crore in property tax for the 2024-25 fiscal year, reaching 83% of its INR 5,210 crore target with two months remaining. The success is attributed to the One-Time Settlement (OTS) scheme, which helped bring defaulters into compliance, and rigorous enforcement measures, including property seizures. Weekly collection targets of INR 10-13 crore have maintained momentum, with an additional INR 500 crore expected by March. Zone-wise, Mahadevapura leads with INR 1,169 crore, while Yelahanka achieved 94.95% of its target. BBMP's proactive strategies set a benchmark for municipal tax efficiency.Read more