09 Jun 2025

The Karnataka High Court recently intervened to halt the Bangalore Development Authority's (BDA) decision to disconnect electricity and revoke occupancy certificates for Kendriya Vihar Apartments in Yelahanka. This action followed directives from the Fire and Emergency Services Department, which cited lapses in renewing mandatory fire safety clearances. Residents contended that they were not granted a fair hearing before these punitive measures were initiated. The court's stay offers temporary relief as the legal proceedings continue.Read more

06 Jun 2025

Bengaluru's civic body has recorded a milestone INR 2,424.93 crore in property tax collections in the first two months of the fiscal year, driven by the newly introduced waste management user fee (expected to add INR 700 crore) and a 5% early payment rebate. By April-end, collections had reached INR 1,200 crore, with May surpassing that figure. Mahadevapura led zone-wise collections at INR 598.51 crore, followed by East Zone (INR 455.06 crore) and South Zone (INR 391.96 crore). The city aims to achieve a total INR 5,100 crore this year, including INR 836.34 crore in arrears from 375,000 defaulters and INR 152.80 crore in revised tax on 9,904 properties. This strong start highlights Bengaluru's improved revenue mobilisation, supporting the city's evolving infrastructure and service delivery needs.Read more

06 Jun 2025

Enzyme Office Spaces has leased 90,000 sq. ft. to accounting software firm Vyapar at its new Sarjapur Road centre in Bengaluru. The 1.2 lakh sq. ft. facility, with 3,000-seat capacity, is now nearly fully occupied, with only 30,000 sq. ft. remaining. The space was customised to Vyapar's operational needs, reflecting rising demand for flexible, tailored office environments among digital-first companies. Founder and CEO Ashish Agarwal noted strong interest from tech-driven businesses. Earlier this year, SUGAR Cosmetics leased 14,000 sq. ft. at Enzyme's Andheri East centre in Mumbai. Enzyme currently operates 32 centres across Bengaluru, Mumbai, Hyderabad, and Delhi-NCR, totalling 1.55 million sq. ft. and 38,000 seats. Workspace pricing ranges from INR 5,000 to INR 25,000 per desk. As hybrid work models evolve, Enzyme's flexibility and customisation remain key draws for modern enterprises.Read more

06 Jun 2025

A consortium led by Schloss Bangalore (The Leela) has secured an 80-year lease for a prime commercial plot in Mumbai's Bandra-Kurla Complex (BKC) from the Mumbai Metropolitan Region Development Authority (MMRDA). The consortium, which includes Arliga Ecospace Business Park Pvt Ltd and Schloss Chanakya Pvt Ltd, plans to develop a mixed-use project, featuring a 250-key luxury hotel. The plot, spanning 8,411.88 sq m with a permissible built-up area of 33,647.52 sq m, comes with a total lease premium of INR 1,302.15 crore. The highest bid was submitted earlier this year following MMRDA's evaluation process.Read more

04 Jun 2025

Apple India has leased an 8,000 sq. ft. retail space at the upcoming Phoenix Mall of Asia in North Bengaluru, with an annual rental of INR 2.09 crore over a 10-year term. The deal includes a 15% rent escalation every three years and a revenue-sharing clause starting at 2%, rising to 3%. The Hebbal-based mall, developed by Phoenix Mills Ltd and Canada Pension Plan Investment Board, offers Apple a prime retail platform in Bengaluru, complementing its recent store launches in Mumbai and Delhi. The move aligns with Apple's strategy to deepen its direct presence in India, as Foxconn nears completion of a major iPhone manufacturing facility at Devanahalli, set to produce 20 million units annually. Together, these developments highlight Apple's integrated retail-manufacturing approach in India, supporting the government's PLI-driven electronics manufacturing ecosystem and tapping into the country's fast-growing smartphone market.Read more

02 Jun 2025

The Bengaluru-based managed workspace provider Simpliwork Offices has leased roughly 1.32 lakh square feet across two commercial buildings in the city: Sumadhura Capitol Towers and Pardhanani Wilshire III. The move comes as the demand for flexible, high-performance workspaces continues to surge among enterprises. Currently managing about 4.5 million sq ft, the company aims to nearly double its portfolio to 9-9.5 million sq ft over the coming two years. Founded in 2018, Simpliwork operates over 85 centres across major Indian cities including Mumbai, Pune, and Hyderabad.Read more

02 Jun 2025

The Bangalore Development Authority (BDA) is advancing its efforts to extend the Dr. K. Shivaram Karanth Layout by acquiring an additional 3,000 acres across 18 villages in Yelahanka and Bengaluru North taluks. This move aims to satisfy the rising demand for residential plots in northern Bengaluru. While the current phase with around 30,000 plots is approaching completion, the BDA has set a three-month deadline to finalise outstanding infrastructure work. The expansion strategically aligns with the proposed Peripheral Ring Road (PRR), which will significantly enhance connectivity and accessibility. Nonetheless, land acquisition challenges and compensation disputes remain critical issues that the BDA must address.Read more

30 May 2025

In a significant move to curb property tax evasion, the Bruhat Bengaluru Mahanagara Palike (BBMP) is set to issue notices to over 400,000 property owners suspected of underreporting property details. Utilizing data from drone surveys, satellite imagery, and the Digitally Owned Number (DON) Survey, BBMP aims to rectify discrepancies in self-declared property information. With a target to collect INR 6,000 crore in property tax for the 2025-26 fiscal year, the civic body anticipates recovering an additional INR 1,000 crore through this initiative.Read more

28 May 2025

Google IT Services India Pvt Ltd has renewed its lease for 870,000 sq ft of office space at Bagmane Capital Business Park in Bengaluru, reinforcing its long-term commitment to India's digital economy. The five-year lease covers two towers Kyoto East and West along the Outer Ring Road, with monthly rent set at INR 7.5 crore and a 15% escalation after the first and third years. Google also deposited over INR 38 crore as security. One of 2025 largest commercial leasing deals, the renewal signals Bengaluru's continued importance as a tech hub. It follows Google's broader real estate expansion across India, including major leases in Gurugram and Whitefield.Read more

28 May 2025

Century Real Estate, one of South India's major property developers, raised INR 1,850 crore in debt funding to strengthen its presence in Bengaluru's thriving residential and commercial property sectors. The funding round, led by Ares Asia and SC Lowy, will support both ongoing and upcoming developments. Ares Asia committed INR 1,600 crore in two instalments, while SC Lowy contributed INR 250 crore. This capital boost aligns with Century's broader strategy to capture rising market demand, particularly in the Grade A commercial and residential segments.Read more

27 May 2025

Shri Manohar Lal Khattar, the Union Minister of Housing and Urban Affairs and Power, announced that the central government will assess the updated Namma Metro Phase-2 cost proposal after the Karnataka state cabinet gives its approval. This is a major step forward for Bengaluru's urban infrastructure. Additionally, the Centre is reviewing the Phase-3A proposal, a 37 km extension estimated at INR 28,400 crore. This move aligns with the broader objective of enhancing urban mobility and addressing the city's escalating traffic challenges. The minister also emphasized the importance of legacy waste management and advocated for higher Floor Area Ratios (FAR) along mass transit corridors to optimize urban development.Read more

27 May 2025

Schloss Bangalore Ltd, the Brookfield-backed operator of luxury brand The Leela Palaces, Hotels and Resorts, has announced an investment of INR 1,131 crore to develop five company-owned hospitality properties across Agra, Srinagar, Bandhavgarh, Ranthambore, and Ayodhya. These developments, totalling 475 rooms, are slated to commence operations by 2028. The announcement came just before the company's INR 3,500 crore IPO opened earlier this week, aiming to raise INR 2,500 crore for debt repayment. Brookfield, which acquired The Leela brand in 2019, is set to dilute its holding by 24%, marking one of the largest public issues in India's hospitality sector.Read more

26 May 2025

Schloss Bangalore Ltd, which owns and operates Leela Palaces, Hotels & Resorts, is set to launch what could become the largest IPO in India's hospitality sector. The IPO price band has been fixed between INR 413 and INR 435 per share, targeting total proceeds of INR 3,500 crore. The issue comprises a fresh equity issue of INR 2,500 crore and an offer for sale worth INR 1,000 crore by promoter Project Ballet Bangalore Holdings (DIFC) Pvt Ltd. Backed by Brookfield Asset Management, the company plans to utilise the funds to reduce debt and support corporate purposes. It operates a luxury portfolio of 12 hotels under the Leela brand and has shown robust financial growth recently.Read more

21 May 2025

San Francisco-based business software company Rippling has opened its second office in Bengaluru, expanding its operations within Embassy Tech Village. The new facility, covering over 100,000 square feet, will accommodate teams across engineering, product, sales, and customer support. The company, valued at USD 16.8 billion, has also announced plans to double its workforce in India from 1,000 to 2,000 employees within the next three years. Founded in 2016, Rippling operates offices in key global cities, including San Francisco, New York, Austin, London, Dublin, Sydney, and Bengaluru.Read more

15 May 2025

Bengaluru led the way in the first quarter of 2025, when the retail sector in India leased 3.1 million square feet of retail space. The city accounted for 34% of the total leasing activity, followed by Delhi NCR and Mumbai at 14% each. Fashion and apparel were the dominant sectors, comprising 31% of the leasing activity. This quarter also saw five new shopping malls open across key cities, adding 2 million sq ft to the market, surpassing the new retail supply from 2024. These developments signal continued growth in the retail real estate market.Read more

15 May 2025

The Karnataka government has allocated INR 7,000 crore to Bengaluru Smart Infrastructure Ltd (B-SMILE), a special purpose vehicle aimed at executing large-scale infrastructure projects in Bengaluru. The funding is designed to draw private investments, enhance project execution, and streamline land acquisition. With a dual-agency model involving the BBMP and BDA, B-SMILE is set to accelerate the city's infrastructure development. The initiative aims to offer greater financial autonomy and operational efficiency, with hopes to set a precedent for other urban SPVs in India.Read more

14 May 2025

The Karnataka government has introduced the Greater Bengaluru Governance Act (GBGA), 2024, to restructure Bengaluru's civic administration. Replacing the BBMP Act of 2021, the GBGA enables the creation of multiple municipal corporations and establishes the Greater Bengaluru Authority (GBA), chaired by Chief Minister Shri Siddaramaiah. Covering the current 709 sq km BBMP area, the GBA will oversee urban planning, infrastructure, and mobility projects. While the existing BBMP will be dissolved, a restructured civic body will continue operations during the transition. The Act also aims to strengthen ward committees to improve accountability and efficiency, with reorganization to begin after formal notification.Read more

12 May 2025

The Bruhat Bengaluru Mahanagara Palike (BBMP) reached a major milestone in April 2025 when it collected INR 1,417 crore in property taxes, which accounted for almost 25% of its ambitious annual target of INR 5,716 crore. This marks a substantial increase from the previous year's collection of INR 670 crore in the same month. The BBMP attributes this surge to the integration of solid waste management charges with property tax payments and the extension of a 5% rebate on early payments until May 31, 2025. Despite the positive trend, approximately 3.75 lakh property owners still owe INR 836 crore in unpaid taxes, prompting the BBMP to plan stringent recovery measures post-May 31.Read more

09 May 2025

According to a report by JLL India, sales of residential real estate in Bengaluru fell 10% year over year in the first quarter of 2025, totaling 15,340 units. Despite this dip, the city saw a significant 62% surge in new launches, reaching 20,484 units. The luxury housing segment, particularly apartments priced between INR 3-5 crore, witnessed a remarkable 119% growth in sales. Whitefield emerged as a key area, contributing 35% to the quarter's overall sales. The average property prices in Bengaluru rose by approximately 13% compared to the previous year.Read more

09 May 2025

BBMP has implemented stringent regulations centered on safety, hygienic practices, and legal compliance in an attempt to control the rapidly growing PG lodging industry. The civic body has identified numerous unauthorized PGs and has already sealed several non-compliant establishments. Key mandates include minimum space per occupant, adequate water supply, CCTV surveillance, fire safety measures, and proper licensing. These actions aim to safeguard residents and restore order in residential areas affected by unregulated PG operations.Read more