27 Mar 2025

The Bruhat Bengaluru Mahanagara Palike (BBMP) has launched a two-day e-Khata issuance process, allowing property owners to obtain the crucial ownership document quickly through the e-Aasthi portal. This digital initiative eliminates the need for physical visits, enhancing transparency and reducing delays in Bengaluru's real estate sector. With 2.7 lakh e-Khatas already issued out of 2.9 lakh applications, BBMP officials are conducting daily virtual reviews to ensure smooth processing. However, the mandatory shift to e-Khata in October 2024 initially led to a 60% drop in property registrations, delaying INR 8,000 crore in transactions.Read more

25 Mar 2025

The Bruhat Bengaluru Mahanagara Palike (BBMP) is set to implement a stringent penalty regime for property tax defaulters from the beginning of April. Defaulters will face a 100% penalty on unpaid dues along with an annual interest of up to 15%. This follows the expiry of relaxed provisions under the amended BBMP Act. The civic body has already collected over INR 4,600 crore in property tax for the current fiscal year, achieving 88.36% of its set target. However, with over 1.8 lakh properties still owing taxes, BBMP officials are stepping up enforcement efforts across key zones.Read more

20 Mar 2025

The Bruhat Bengaluru Mahanagara Palike (BBMP) has stepped up efforts to recover pending property taxes as the current financial year draws to a close. The special commissioner for revenue, Munish Moudgil, has instructed zonal officers to prioritize collections from major defaulters across Bengaluru. With INR 4,604 crore collected so far, the civic body has achieved 88.4% of its INR 5,210 crore target for 2024-25. Property owners now face strict penalties, including a 100% penalty and interest of up to 15%, if dues remain unpaid past the end of this month. The BBMP is also initiating enforcement measures such as property seizures.Read more

14 Mar 2025

TCS has announced the acquisition of Bengaluru-based commercial real estate firm Darshita Southern India Happy Homes for INR 2,250 crore. The IT giant plans to use the acquired property as a delivery centre, with the deal structured as a call option to secure full ownership after two years. This move aligns with TCS's strategy of expanding its seating capacity, complementing its earlier acquisitions of TRIL Bengaluru Real Estate Five and Six for INR 1,650 crore. The company balances owned and leased office spaces to manage costs and flexibility. The target firm, originally planned as a residential project, was converted into a commercial office space in FY19 under the name Salarpuria Sattva Knowledge Point.Read more

12 Mar 2025

Bengaluru is undergoing a major infrastructure overhaul to improve urban mobility, reduce congestion, and enhance economic growth. The state government has increased BBMP's annual grant from INR 3,000 crore to INR 7,000 crore, with a Special Purpose Vehicle (SPV) ensuring efficient project execution. Key projects include tunnel roads (INR 19,000 crore), a 40.5 km double-decker flyover (INR 8,916 crore), and a 98.6 km metro expansion. The Bengaluru Business Corridor (INR 27,000 crore) aims to boost commercial activity, while major industrial investments include Foxconn's INR 6,970 crore mobile plant and a Japanese Industrial Park. These initiatives will redefine Bengaluru's urban and economic landscape.Read more

10 Mar 2025

Embassy Office Parks REIT (Embassy REIT) will invest INR 100 crore to develop Bengaluru's Kadubeesanahalli Metro Station on the Outer Ring Road (ORR), enhancing connectivity between Central Silk Board and KR Puram. BMRCL Managing Director M. Maheshwar Rao highlighted the ORR corridor's significance in linking commercial and residential hubs. Embassy REIT's interim CEO, Ritwik Bhattacharjee, reaffirmed its commitment to urban mobility, citing past investments in infrastructure, including a flyover and a pedestrian footbridge. On February 28, 2025, Embassy REIT and BMRCL signed their partnership. The 17-km Metro ORR Project, spanning 16 stations, aims to ease commutes in Bengaluru's key business districts.Read more

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

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

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

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

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

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

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