Bangalore News Desk

25 Feb 2026

Google is significantly increasing its presence in Bengaluru by securing rights to roughly 2.6 million square feet at Alembic City in Whitefield. The agreement requires the landlord to reserve three additional office blocks exclusively for Google unless the company declines, ensuring flexibility for future expansion. Google IT Services India had earlier leased about 650,000 sq ft at the same campus. Analysts note that this could become one of the largest single-campus commitments by a global tech firm in India, reflecting strong demand for premium office space in Bengaluru.Read more

Bangalore News Desk

24 Feb 2026

The Greater Bengaluru Authority (GBA) has initiated a first-of-its-kind enforcement action to recover long-standing property tax arrears, auctioning seven defaulting properties after repeated attempts to secure payment failed. With outstanding dues totalling about INR 437 crore across nearly 7,000 units, the civic body moved to public auction as a last resort following notices, field visits and recovery drives by the former Bruhat Bengaluru Mahanagara Palike and the newly formed city corporations. Five properties in the East City Corporation area and two in the North City limits were successfully sold, while listings in the Central zone attracted no bidders. During bidding in the KR Puram division, 19 defaulters settled their dues when auctions began, and one property was withdrawn due to encroachment concerns. Deputy Chief Minister D K Shivakumar reiterated that affluent owners, including those earning rental income, would not be spared from tax enforcement.Read more

24 Feb 2026

The Haryana Assembly has formally approved the merger of the long-standing Housing Board Haryana into the Haryana Shehri Vikas Pradhikaran (HSVP), effectively bringing to an end the board's independent existence after more than five decades. The resolution, moved during the first sitting of the state's Budget session by Chief Minister Nayab Singh Saini, concluded a government plan that has been under consideration for around two years. Officials noted that the functions of both entities largely overlapped, prompting the consolidation intended to streamline housing and urban development operations. The Housing Board, established under the Haryana Housing Board Act, 1971, had developed tens of thousands of homes for socially and economically weaker sections across multiple districts. The government assured that the interests of Housing Board employees would be fully protected under the new structure as HSVP assumes all responsibilities and ongoing projects.Read more

24 Feb 2026

Adani Ports and Special Economic Zone Ltd (APSEZ), through Adani Gangavaram Port Ltd, has signed a Memorandum of Understanding with NMDC Ltd and Brazil-based Vale SA to develop an integrated iron ore blending facility and a Special Economic Zone at Gangavaram Port. The agreement was formalised during the India Brazil Business Forum in the national capital. The proposed project will create a value-addition ecosystem for iron ore, improve export efficiency, and enable the port to handle large Valemax vessels, increasing its overall cargo handling capacity to around 75 million tonnes.Read more

24 Feb 2026

Balgopal Commercial Ltd has approved the purchase of a land parcel in Kolkata for INR 6.5 million, according to a recent regulatory update. The decision was cleared by the company's board and disclosed to stock exchanges in the past week. While specific details such as the size and exact location of the land were not disclosed, the acquisition signals the company's continued interest in expanding its asset base. The development comes at a time when real estate activity in Kolkata is witnessing steady traction across both residential and mixed-use segments.Read more

Pune News Desk

24 Feb 2026

The Pune Municipal Corporation general body has unanimously rejected a proposal to raise property tax by five per cent for the upcoming financial year, choosing instead to retain existing tax rates. The move was backed by councillors across party lines who expressed concern about imposing additional financial burdens on city residents and emphasised the need to improve tax collection efficiency and bring more properties into the tax net rather than increasing rates. Meanwhile, the Pimpri Chinchwad Municipal Corporation is also expected to maintain the status quo on property tax, as procedural and legal requirements including the constitution of a standing committee needed to approve any hike have not been fulfilled, effectively stalling proposals for revised levies. Critics and civic leaders have urged administrative reforms to strengthen revenue performance without raising tax rates.Read more

24 Feb 2026

The Andhra Pradesh Legislative Assembly has passed a bill reducing the vacant land tax to 50 per cent of the fixed tax value for plots that are actively under construction, aiming to incentivise timely development and curb land banking. The amendment, which received assent from the assembly earlier this week, applies to vacant plots where construction has commenced within the statutory period and infrastructure facilities are being developed. Members acknowledged that high vacant land levies had been discouraging early starts or continued construction, particularly in residential and commercial property sectors. The reduced levy is expected to support developers and individual plot owners by easing holding costs and encouraging efficient project delivery. The state government said detailed rules for implementation will be notified soon.Read more

Pune News Desk

24 Feb 2026

Intercontinental Exchange has significantly expanded its footprint in India through a long-term lease of nearly 2 lakh sq ft of office space in Pune's Magarpatta Cybercity, signalling confidence in the city as a strategic hub for global capability centres (GCCs). The space spans nine floors in Tower S3 and will serve as a Global Capability Centre for ICE Mortgage Technology India, supporting product engineering, technology operations and back-end services for its global platforms. The lease includes a monthly rental of INR 1.73 crore with periodic escalation clauses and underscores the broader trend of multinational firms choosing Pune for scalable, large-format office campuses. The move reinforces Pune's growing stature among India's leading cities for corporate office demand and technology-led real estate growth.Read more

Pune News Desk

24 Feb 2026

Pune's real estate market opened the year with a moderation in recorded transactions, as property registrations in January 2026 declined by 17 per cent on a year-on-year basis, according to a market report by Knight Frank India. Data compiled from the Inspector General of Registration and Controller of Stamps, Maharashtra showed that 14,527 properties were registered in the district during the month, compared with 17,449 in the same month last year. Stamp duty collections weakened by 5 per cent, totaling around INR 609 crore, suggesting that while fewer transactions were recorded overall, higher-value deals helped sustain revenue intake more robustly than volumes. Market observers noted that the slower registration pace follows a high base in early 2025, and that the relatively smaller dip in revenue points to continued traction in mid-to-premium segments. The trend suggests a market recalibration rather than a sharp contraction in demand.Read more

23 Feb 2026

Reliance Industries and Jio plan to invest USD 110 billion (around INR 10 trillion) over seven years to develop artificial intelligence infrastructure across India. The move aims to create domestic AI compute capacity, reduce costs, and expand AI services nationwide. Construction of multi-gigawatt data centers has started in Jamnagar, with the first 120-megawatt phase expected later this year. The project will use renewable energy, integrate with Jio's network, and establish edge computing for low-latency AI applications. This positions India to compete in global AI and technology development.Read more