27 Jun 2024

Despite a directive from the BBMP Commissioner to demolish illegal buildings within 117 days, unauthorised structures in Bengaluru's Whitefield area persist. In October 2023, the BBMP identified 38 illegal buildings, but residents report no demolitions nearly seven months into the drive. Citizens, who were initially hopeful, have become frustrated as enforcement efforts weakened, with BBMP marshals withdrawn in December. RTI responses revealed that out of 72 buildings, only 34 had plan approvals, with 28 having deviations. The lack of action has led to continued construction of new illegal buildings, highlighting the city's administrative failures and possible collusion with violators.Read more

27 Jun 2024

Residents in Bangalore's Vajarahalli area can expect relief as the BBMP has filed an FIR against Provident Apartment for improper wastewater disposal, under Sections 278 and 283 of the IPC and Section 3 of the Prevention of Damage to Public Property Act, 1984. The untreated wastewater, causing significant road damage and health risks, has been a recurring issue. BBMP's Assistant Engineer confirmed prior warnings and police complaints. The Thalaghattapura Police have demanded immediate rectification from Provident Apartments, highlighting the importance of responsible waste management and the BBMP's role in enforcement.Read more

27 Jun 2024

In a pivotal ruling, Karnataka's KRERA reinforces builders' obligations to rectify structural flaws post-handover. Triggered by water seepage issues at SNR Verity, Bengaluru, the case spotlighted SNR Square Pvt Ltd's negligence. KRERA's mandate extends developers' liability for five years post-residents' association formation, safeguarding against common pitfalls like leakages and faulty wiring. Despite RERA's protective framework, challenges persist with developers evading responsibilities, often shifting repair burdens to associations prematurely. Empowered by KRERA's directive, Karnataka's homeowners armed with documentation and procedural knowledge can compel builders to honour their commitments, securing livable homes long-term.Read more

24 Jun 2024

Whitefield, a rapidly developing IT and residential hub in eastern Bangalore, has become a prime real estate destination. With its robust infrastructure, excellent connectivity, and abundant social amenities, Whitefield attracts professionals and families seeking a comfortable lifestyle amidst the growing tech ecosystem. In May, Carmel Heights led the real estate market with the highest number of deals, followed by Prestige Palms and Amrutha Heights. The locality offers diverse housing options, from luxury apartments to budget-friendly choices, catering to a wide range of preferences and budgets. Whitefield's thriving real estate market underscores its appeal as a vibrant and sought-after locality.Read more

21 Jun 2024

Royal Orchid Hotels, a Bengaluru-based hospitality company, has announced an ambitious plan to nearly double its room count to 11,000 keys across India within two years. Targeting new cities in Jammu & Kashmir, Uttar Pradesh, Andhra Pradesh, and Telangana, the company aims to secure management contracts and explore flexible-lease revenue-sharing models. Shifting to an asset-light approach, Royal Orchid focuses on leases and revenue-sharing agreements to accelerate expansion and mitigate financial risks. With over 100 hotels in India, Sri Lanka, and Nepal, the company seeks to strengthen its luxury and smart hotel segments, reflecting optimism in the rebounding Indian hospitality sector.Read more

20 Jun 2024

Amazon is significantly expanding its presence in Bengaluru, leasing over 1.1 million square feet of office space from Sattva Group. Located at Sattva Horizon business park near Bengaluru International Airport, the new 11-story building will accommodate over 7,000 employees and be operational by mid-2025. This lease follows Amazon's other major property deals in India, securing over 1.45 million square feet across Bengaluru, Gurugram, and Hyderabad. Additionally, Amazon Web Services plans a USD 12.7 billion investment in Indian cloud infrastructure by 2030, emphasizing the company's long-term commitment to India's digital and economic growth.Read more

20 Jun 2024

MoEngage, a US-based customer engagement platform, is expanding its Bengaluru operations by leasing an additional 450 seats at 315Work Avenue, doubling its space to 45,000 square feet. This move underscores the growing trend of businesses opting for co-working spaces for flexibility and scalability. 315Work Avenue provides customized, modern workspaces that cater to MoEngage's needs, enhancing employee productivity. Manas Mehrotra, Founder of 315Work Avenue, emphasized their commitment to client satisfaction. This expansion reflects India's booming demand for co-working spaces, projected to comprise 20% of the office market by 2030, driven by the need for adaptable and cost-effective work environments.Read more

19 Jun 2024

Global energy management and automation leader Schneider Electric has launched its largest employee campus worldwide in Bengaluru with a significant INR 200 crore (EUR 22 million) investment. This expansive 630,000 square-foot campus, located at Bagmane Solarium City, serves as a global innovation hub, the first of its kind for Schneider Electric. It aims to foster innovation and collaboration among over 8,000 professionals. This strategic move underscores India's role in Schneider Electric's growth, leveraging the country's rich talent pool and positioning the nation as a pivotal centre for cutting-edge solutions in energy management and automation.Read more

18 Jun 2024

Total Environment, a Bangalore-based real estate developer, secures over INR 1,600 crore funding, accelerating residential project delivery across Bangalore spanning 12 million sq. ft. The funding, sourced from top banks, comes after robust residential sales performance. Founder Kamal Sagar attributes their strategic exit from expensive debt to sales focus and market uptrend, enabling loans at lower interest rates (9.7% to 12.5%). This shift from higher-interest investments marks Total Environment's transition, aiming to deliver 100 homes monthly. The move aligns with the booming Indian residential sector, witnessing heightened sales and increased investments, positioning Total Environment advantageously in Bangalore's competitive market.Read more

18 Jun 2024

Bangalore-based Gopalan Enterprises plans to invest INR 2,000 crore to develop a 20 million sq. ft office portfolio, aiming to increase annual rental income to INR 500 crore within four to five years. This strategic move addresses the rising demand for large corporate campuses. With prestigious clients like Oracle, Samsung, Google, and TCS, Gopalan focuses on key locations like Whitefield and Outer Ring Road in Bengaluru. Additionally, they are expanding their aerospace park to 1 million sq. ft and diversifying into various sectors, positioning themselves for growth in real estate, aerospace, education, and more.Read more

18 Jun 2024

Deputy Chief Minister D K Shivakumar of Karnataka has issued a reminder to property owners in Bengaluru regarding the ongoing 'One Time Settlement' (OTS) window for outstanding property tax payments. The scheme, closing on July 31, offers a 50% reduction in penalties and a waiver of interest payments. Despite this opportunity, over 4 lakh property owners are yet to participate, out of approximately twenty lakh properties eligible for the scheme. Shivakumar stressed the importance of tax compliance, warning of repercussions for defaulters after August 1. The digitization process of properties is underway to facilitate easier tax compliance. Additionally, Shivakumar addressed concerns about unauthorized flex banners, urging strict action and encouraging public complaints through the BBMP helpline.Read more

17 Jun 2024

Texas-based Ashton Gray Investments has opened a Bengaluru office to cater to India's burgeoning investor community. With over 200 Indian investors already in their portfolio, Ashton Gray aims to provide access to stable US real estate markets for discerning Indian investors. The expansion reflects the company's commitment to India and its vision of fostering long-term relationships. Ashton Gray's proven track record, highlighted by successful exits and promised returns, underscores its dedication to shared success. The Bengaluru office marks a strategic move to empower Indian investors with opportunities for financial growth and stability in the US real estate market.Read more

13 Jun 2024

Bosch Global Software Technologies has leased 691,320 square feet in Bengaluru's Electronic City, housing around 8,000 employees. This expansion, dedicated to Robert Bosch's Knowledge Process Outsourcing (KPO) operations, underscores Bosch's commitment to India's tech and engineering talent. The five-year lease, with a renewal option, reflects Bosch's long-term vision. Bengaluru's office space market saw a 40% year-on-year leasing increase in Q1 2024, driven by tech and engineering sectors. Other tech giants like Walmart, Samsung, Uber, and Google are also expanding in Bengaluru, solidifying the city's status as a global tech hub. Bosch's new facility reinforces its significant role in India's innovation ecosystem.Read more

12 Jun 2024

Google has leased 649,000 square feet of office space at Alembic City in Whitefield, Bengaluru, at a monthly rent of INR 762 per square foot for a three-year lock-in period. This move aligns with Google's strategy to expand its footprint in India, adding to its recent leases in Hyderabad (600,000 sq. ft.) and Bengaluru (1.3 million sq. ft.). The combined leases amount to 3.5 million sq. ft. since 2020, bringing Google's total Indian office space to over 9.3 million sq. ft. Additionally, Google plans to start manufacturing Pixel smartphones in India, reflecting its significant investment in the country's tech sector.Read more

11 Jun 2024

Concorde Mayfair, a cutting-edge development in Yelhanka, Bangalore by Concorde, offers a holistic urban lifestyle. Spanning 3.35 acres, this project merges 217 carefully crafted 2 and 3 BHK residences with commercial units and retail outlets, creating a self-sufficient community. With 60%+ open spaces, residents can seamlessly live, work, and relax within this dynamic microcosm. The project features four 14-story towers, including a pinnacle 'Evolve' clubhouse on the 14th floor, providing unparalleled views and amenities. Emphasizing sustainability, Concorde Mayfair integrates eco-friendly practices and prioritizes connectivity, offering residents unmatched comfort and convenience in the bustling heart of Yelhanka.Read more

07 Jun 2024

Manasum Group, one of India's fastest-growing senior living brands, has introduced "Banyan" at Godrej Royale Woods in North Bengaluru. This serene sanctuary for seniors offers a unique blend of luxury, comfort, and holistic wellness, setting a new benchmark for retirement homes in India. Strategically located just a 5-minute drive from the KIAL airport toll, Banyan features ready-to-move-in 1 & 2 BHK residences starting from INR 60 lakh onwards, designed to cater to the discerning needs of today's seniors. Spanning 13 acres, the Banyan project comprises 191 residences, while the Godrej Royale Woods project has a total of 1,678 units and features over 1,000 trees. Banyan's commitment to holistic living is evident through its comprehensive range of amenities aimed at ensuring the physical, emotional, and social well-being of its residents.Read more

06 Jun 2024

Bengaluru-based builder Trifecta Projects unveils Trifecta Vanto, blending luxury living with eco-friendly design on Sarjapur Road, East Bengaluru. Spread over 9 acres, the project offers 825 spacious apartments, ranging from 710 to 1,340 sq. ft., with prices starting at INR 68.5 lakh. The 50,000 sq. ft Platinum Oasis Clubhouse features extensive amenities, including a semi-Olympic-size swimming pool, virtual golf course, and eco-friendly workout options. With 85% open space, solar lighting, rainwater harvesting, and EV charging, Trifecta Vanto emphasizes sustainability. Completion is expected by August 2027, ensuring a luxurious and green lifestyle.Read more

06 Jun 2024

The Karnataka State Pollution Control Board (KSPCB) mandates using treated water from sewage treatment plants (STPs) for construction in Bengaluru. This move aims to conserve groundwater resources valued at INR 3,584 crore (USD 48 billion). Despite initial concerns from builders about water quality affecting concrete strength, a study by the Indian Institute of Science (IISc) confirmed the safety and effectiveness of treated water. The initiative requires strict adherence to water quality standards by STPs. A successful pilot program in Bellandur is paving the way for city-wide adoption, potentially saving millions of litres of water annually.Read more

05 Jun 2024

Bengaluru-based Century Real Estate plans to bring a substantial portion of its land holdings to market, aiming to generate INR 2,100 crore in sales during FY 2024-25. This move follows a successful year with a 121% growth in residential sales bookings. Managing Director Ravindra Pai highlighted that they are nearing completion on key projects, enabling them to focus on new developments in Bengaluru. The company boasts a 96% sell-out rate for residential inventory since FY24 began, reflecting strong demand. Century Real Estate's plan will introduce over INR 7,200 crore worth of new inventory this year, indicating confidence in Bengaluru's real estate sector.Read more

05 Jun 2024

Housing prices in India's major cities rose by an average of 10% in Q1 2024, with Bengaluru leading at 19%. A report by CREDAI National, Colliers, and Liases Foras highlights this growth across eight key cities: Ahmedabad, Bengaluru, Chennai, Delhi-NCR, Kolkata, Hyderabad, Mumbai, and Pune. Strong housing demand, especially in areas with significant infrastructure development, is driving this trend. While unsold inventory in these cities totals around 1 million units, Mumbai holds nearly 40%. Pune, Delhi-NCR, and Ahmedabad saw a decrease in unsold inventory by 10%, 8%, and 8% respectively, indicating a healthier market balance.Read more