21 Nov 2024

The Bruhat Bengaluru Mahanagara Palike's (BBMP) e-khata system has faced significant challenges since its launch in October, with only 5,324 final e-khatas issued from 22 lakh available drafts, despite 54 lakh website visits. Common issues, including data errors like misspelt names and incorrect property numbers, have hindered adoption. To address this, BBMP will introduce a correction module, enabling property owners to rectify mistakes at local revenue offices. Additionally, a new module for properties lacking khata documentation is set to launch soon. These measures aim to improve transparency and adoption, though experts highlight the need for better user support and outreach.Read more

20 Nov 2024

The Bruhat Bengaluru Mahanagara Palike (BBMP) is addressing challenges related to the e-khata system by involving Resident Welfare Associations (RWAs) to assist residents in understanding the process of obtaining property documents online. Training programmes for RWA representatives will begin soon, empowering them to help others in the community. BBMP has already set up help desks and activated Bangalore One centers to support the final generation of e-khatas. Despite uploading 22 lakh draft e-khatas, the response has been underwhelming, with various technical and procedural challenges hindering progress. Residents have welcomed the move, but some argue that the training should have been part of the initial launch.Read more

19 Nov 2024

Karnataka's Deputy Chief Minister, D K Shivakumar, has outlined a transformative vision for Bengaluru's metro network, aiming to extend it by 175 km by 2026. After inspecting the newly extended Nagasandra-Madavara line, Shivakumar detailed phased additions, including 30 km by 2025 and the remainder by 2026. With significant investments and collaborations-such as with the National Highways Authority of India (NHAI) and Indian Railways-;the state is enhancing metro accessibility and connectivity. Infrastructure improvements include underpasses, skywalks, and parking facilities to support seamless transit. Bengaluru's growing metro ridership underscores the network's essential role in reducing city traffic and improving commuter convenience.Read more

19 Nov 2024

The Bangalore Development Authority (BDA) received a significant relief from the High Court, which allowed a review petition filed after a 12-year delay and stayed a 2012 order concerning a five-acre property in Kengeri, Bengaluru. The BDA argued that the original petitioner, R Arunachalam, had misrepresented his ownership and concealed the sale of part of the land before filing the petition. The court acknowledged that the BDA's delayed review petition could be excused, given the circumstances. Additionally, the BDA presented evidence of sale deeds from 2004-2006, showing the land's division before the original petition was filed in 2011.Read more

18 Nov 2024

The Bruhat Bengaluru Mahanagara Palike (BBMP) has announced a significant policy change, halting the issuance of A and B khata certificates for sites in layouts lacking official approval from planning authorities. This move targets unauthorised developments, many on Bengaluru's outskirts, that lack essential infrastructure. The policy aims to enforce stricter urban planning regulations, ensuring that only layouts with approved infrastructure qualify for certification. Experts believe this will encourage adherence to planning protocols and potentially boost property values in authorised layouts. This policy shift is a step towards sustainable urban development, fostering organised growth and improving the quality of life for residents.Read more

15 Nov 2024

Ajmera Realty & Infra India Ltd (ARIIL) has reported remarkable pre-sales for its newly launched residential project, Ajmera Iris, in Bengaluru's Electronic City, Phase 2. Within the first week of its launch, the project sold 59,000 sq. ft. out of 1,58,859 sq. ft., totaling INR 60 crore in revenue-about 37% of the available inventory. Located near key infrastructure like Hosur Road and the Bengaluru Metro, Ajmera Iris combines convenience with lifestyle amenities, making it an attractive choice for buyers and investors seeking quality living spaces in Bengaluru.Read more

13 Nov 2024

BMRCL has secured the necessary permissions to start commercial operations on the Green Line's newly extended route between Nagasandra and Madavara, with an inauguration expected midweek, followed by full services the next day. BMRCL's Chief PRO, BL Yeshwanth Chavan, stated that preparations are underway, including finalizing schedules and assigning staff at three new stations. The delayed opening had caused frustration among commuters, resulting in overcrowding at Nagasandra station. The new extension, part of Phase II, has been eagerly awaited by the public for seven years, and it is set to improve connectivity in the area.Read more

11 Nov 2024

Concorde, a leading developer in Bengaluru, is launching Concorde NEO, a residential project on Thanisandra Main Road spanning 4.02 acres with a revenue potential of INR 450 crores. The project features six towers with 424 units designed for community living, boasting over 40 amenities, including a 7,000-square-foot "Evolve" clubhouse. Its strategic location offers easy access to Kempegowda International Airport and nearby metro stations, enhancing connectivity for residents. Emphasizing sustainability, Concorde NEO incorporates smart technology and eco-friendly systems, making it an attractive option for families and professionals seeking modern urban living in a rapidly developing area.Read more

11 Nov 2024

NBR Group, a prominent real estate developer in Bengaluru, has unveiled a new logo and tagline, "Elevate to Extraordinary," marking its shift from mid-segment homes to luxury high-rise gated communities. With over 25 years in the industry and a portfolio of 12 million square feet of residential space, NBR is reinforcing its commitment to excellence in urban living. The revamped brand identity reflects a focus on aspirational lifestyles, modern amenities, and sustainability, with a new project worth over INR 1200 crore underway. Managing Director Nagabhushan Reddy highlighted the brand's dedication to creating superior living experiences for its discerning clientele.Read more

11 Nov 2024

The Bruhat Bengaluru Mahanagara Palike (BBMP) has commenced a crackdown on unpaid property taxes by sealing properties with outstanding dues. This enforcement follows the One-Time Settlement (OTS) scheme, which allowed property owners to clear their debts by November 30, waiving compound interest and offering penalty rebates. On the first day of the drive, 115 properties were sealed, with the East zone having the highest number of defaulters. City officials stress the importance of tax compliance for funding public services and infrastructure. Property owners are urged to take action and utilise the OTS scheme before further enforcement measures are implemented.Read more

07 Nov 2024

The Bruhat Bengaluru Mahanagara Palike (BBMP) initiated a citywide survey of under-construction buildings last week, in response to a recent tragic incident in Babusapalya that claimed nine lives. Under the direction of Deputy Chief Minister D. K. Shivakumar, BBMP chief commissioner Tushar Giri Nath announced that if any illegal constructions or violations of sanctioned plans are found, work will be halted, and demolition orders will be issued. The BBMP aims to ensure the safety of buildings by inspecting for violations, substandard materials, and encroachments on protected land, with property owners bearing the cost of any necessary demolition.Read more

05 Nov 2024

Urban Vault, a managed office space provider, has announced its expansion in Bengaluru's central business district by leasing 1.2 lakh square feet of office space across three buildings. According to founder Amal Mishra, Bengaluru's availability of affordable real estate and skilled talent make it an attractive destination for companies looking to enter the Indian market. Urban Vault offers desks ranging from INR 8,000 to INR 10,000 per month. During the financial year 2023-24, Urban Vault reported a turnover of over INR 100 crore and a net profit of 18%, with an occupancy level of 91% in its operational centres. With over 20 lakh square feet of office spaces and plans to expand to other major cities, Urban Vault is positioning itself as a key player in the flexible workspace segment.Read more

05 Nov 2024

The Bruhat Bengaluru Mahanagara Palike (BBMP) announced the removal of the encumbrance certificate (EC) requirement for e-khata applications, aiming to simplify the process for property owners in Bengaluru. This change eliminates delays and fees, particularly affecting properties registered before 2004. Special Commissioner Munish Moudgil noted that the EC will still be required for property sales and registrations. The BBMP has also made draft e-khatas available online for about 2.2 million properties, facilitating easier access to property records. Despite some technical challenges reported by residents, the initiative has garnered significant public interest, with nearly 500,000 downloads in just 24 days.Read more

31 Oct 2024

Dalmia Nisus Finance Investment Managers LLP has successfully exited its investment from the Real Estate Credit Opportunities Fund - I (RECOF-I), marking a significant milestone in its focus on profitable real estate investments in India. In July 2022, RECOF-I invested INR 40 crore in Shriram Properties' Chirping Ridge project in Bangalore, achieving an impressive internal rate of return (IRR) of approximately 19% within two years. This success highlights Dalmia Nisus's effective investment strategy and strong partnerships with developers. With a total corpus of INR 1,500 crore for its Real Estate Special Opportunities Fund - I, the firm is well-positioned to capitalise on high-yield opportunities in the evolving Indian real estate market.Read more

28 Oct 2024

The rising demand for paying guest (PG) accommodations in urban areas has led to regulatory challenges, especially after a tragic incident in Koramangala, which prompted the Bruhat Bengaluru Mahanagara Palike (BBMP) to introduce stricter safety guidelines. PG owners are now struggling to comply, citing high costs and operational difficulties. Key concerns include the extended 90-day CCTV footage requirement, increased space per occupant, and the cost of hiring security personnel. Many owners, already operating on thin margins, are seeking regulatory relaxations and a grace period to register their PGs, emphasising the need for a balanced approach between safety and financial sustainability.Read more

25 Oct 2024

BMRCL plans to launch metro rail services between Nagasandra and Madavara on the Green Line by the end of this month, with all construction complete and successful testing conducted. The extended line features stations at Manjunath Nagar, Chikkabidarakallu, and Madavara, and is expected to increase daily passenger numbers by approximately 6,500. Meanwhile, preparations for the Yellow Line's launch in January next year are underway, though parking challenges at interchange stations remain a concern. MP Tejasvi Surya has urged swift approval for the Green Line extension to ease congestion on Tumakuru Road, enhancing connectivity in Bengaluru.Read more

24 Oct 2024

Nexus Select Trust, a REIT backed by rent-yielding retail assets, is set to acquire Bengaluru's Vega City Mall for INR 877 crore. The acquisition includes the 0.45 million sq ft mall and the land, currently owned by A S Muniswamy Raju HUF, leased to Blue Horizon Hotels. The deal, executed through Vijaya Productions Pvt Ltd, awaits transaction documents and closing conditions. Nexus Select Trust, which manages 17 shopping malls across 14 cities with a gross leasable area of 9.9 million sq ft, aims to strengthen its presence in Bengaluru and capitalize on operational synergies. This move highlights the trust's commitment to growth in India's retail sector.Read more

21 Oct 2024

The Urban Development Department has greenlit the Namma Metro Phase 3A project, connecting Hebbal to Bengaluru's tech hub in Sarjapur over a 37-kilometer route. Pending Union Cabinet funding approval, the project's cost has risen from INR 16,500 crore to INR 27,000 crore following a detailed project report (DPR) assessment. This line will feature 28 stations with both elevated and underground sections, providing vital links through areas like Koramangala, KR Circle, and Hebbal. Additionally, the BMRCL plans a sports and cultural complex above the Shivajinagar Metro station, inspired by international metro designs. With Phase 3A's approval, Bengaluru's infrastructure will see enhanced connectivity, easing traffic congestion and boosting urban development.Read more

21 Oct 2024

The Bruhat Bengaluru Mahanagara Palike (BBMP) launched its e-khata system to streamline property record management, but its pilot in the East zone saw slow uptake. Since 2022, only 8.6% of the 3.5 lakh property owners have adopted the system. The initiative aims to reduce fraud and improve transparency, but awareness and documentation challenges, such as GPS and KYC submissions, have hindered progress. Despite extensive promotion, many property owners have yet to link their GPS data. To ensure success, BBMP needs to address these issues, as the system promises to simplify property transactions and increase accountability.Read more

18 Oct 2024

Landowners in Nadaprabhu Kempegowda Layout are facing difficulties due to the Bengaluru Development Authority's (BDA) delays in collecting betterment charges, which are essential for obtaining legal status for their properties. Without "A" khata status, owners struggle to secure loans and face legal limitations. The BDA has approved the collection of these charges, yet inaction continues to hinder property transactions and development in the area.Read more