BUSINESS
Can proptech help rent an apartment faster?
While realty firms have started using technology to smoothen and expedite the sale and rental process, much more needs to be done to add meaningful value.
BUSINESS
Developer cannot escape liabilities of project completion after promoters change: NCDRC
The court overturned an order passed by the Karnataka Real Estate Regulatory Authority and directed the developer to refund homebuyers' money.
BUSINESS
MC Explains: Bengaluru minister hints at property tax hike; experts say it's time
Experts say the Silicon Valley of India needs to be more tech-savvy when it comes to property tax collection.
BUSINESS
Vaishnavi Group to develop 10 million sq ft in Bengaluru, targets Rs 5,000 crore revenue
The company will also commence work on the Chalukya Hotel to develop 1.5 lakh square feet of Grade A office space in the city’s central business district for a rental return of about Rs 335 crore.
BUSINESS
MC Explains: Madras HC says resident welfare associations cannot interfere in apartment transactions
The court also held that the collection of transfer fees by such associations during the sale of an apartment is illegal.
BUSINESS
Developers are bound to show land documents before purchase, says Karnataka authority
The ruling came on a case related to a luxury project in eastern Bengaluru's IT corridor of Sarjapura, where a homebuyer decide the hold back on the purchase decision after the builder refused to show land title documents.
BUSINESS
Bangalore Development Authority launches 3BHK apartments priced a tad above Rs 1 crore. Should you buy?
The apartments with a carpet area of 1,250 square feet (sq ft) are on 10 floors with 12 apartments on each floor. The complex has 132 parking slots with two EV charging units.
BUSINESS
Prestige Group to develop 27 msf office space in Bengaluru
The company plans to generate a rental income of Rs 800-1,200 crore just from Bengaluru within five years. The idea is to develop about 40 msf of office space, across six cities, with an annual rental yield of Rs 3,000 crore within five years, says CEO Juggy Marwaha
BUSINESS
Bengaluru floods: All eyes on new State government and Chief Minister Siddaramaiah
Six months after it was drowned by a deluge, not much has changed in Bengaluru. Basements continue to be inundated, and major roads continue to overflow in India’s so-called Silicon Valley. The sudden deluge brought back traumatic memories for many in the city, and created new ones, claiming a young life.
BUSINESS
Developer liable to maintain project till OC is obtained and association formed: KRERA
KRERA asked the developer Sobha Limited to make available to the homebuyers the bank accounts of the advance maintenance charges collected and spent.
BUSINESS
Tata Realty plans to develop 5 million sq ft office space in Bengaluru, to invest Rs 4,000 crore
Additionally, the company is planning to foray into Pune and Hyderabad for launches in the commercial segment.
BUSINESS
Bengaluru infrastructure needs the support of corporates, real estate sector: Namma Metro MD Anjum Parvez
Parvez was speaking at a conference held by a commercial real estate association. The conference proposed solutions to solve Bengaluru's traffic and infrastructure woes.
BUSINESS
Godrej Construction to develop 1 msf, with a revenue potential of Rs 1,500 crore in Mumbai
The company also plans to develop another 2 msf within two years. The 1 msf development will take place in Mumbai and comprise 365 apartments spread across 2.5 acres. The 2/3/4 BHK apartments will be priced between Rs 3 crore and Rs 10 crore.
BUSINESS
Karnataka to revise property guidance value, a hike between 10-30% likely: Sources
If the hike is drastic, more than 70 percent of Bengaluru's areas will experience a fall in property market values, experts say, leading to a slowdown in the sector.
BUSINESS
MC Explains: How high demand, layoffs are pushing landlords to screen prospective tenants in Bengaluru
At a time when the global slowdown threatens to impact jobs in the city, landlords are looking for tenants with sound career prospects and high-paying jobs.
BUSINESS
KRERA says occupancy, completion certificates must for projects to be deemed complete
Several developers in Bengaluru have simply handed over apartments to the homebuyers after executing a sale deed.
BUSINESS
Karnataka Elections 2023: Bengaluru's development hangs on political promises centred on the city
Bengaluru’s civic bodies need to be rejuvenated to generate funds, experts say. A defunct State Finance Commission (SFC) has meant the city relies largely on property tax.
BUSINESS
Karnataka HC prevents landlords from rent hikes for unregistered properties
Referring to the Registration Act of 1998, the high court said a lease agreement exceeding 11 months’ rental period has to be registered at the sub-registrar's office
BUSINESS
Karnataka Elections: Homebuyers, experts seek policy changes from new MLAs
From empowering the state's real estate regulator to revising tenancy laws, the new policymakers will have key tasks cut out.
BUSINESS
MC Exclusive: Columbia Pacific to invest Rs 200 cr to launch senior living homes across India
For the first time, Columbia Pacific is foraying into a rental model for senior living in India through assisted senior living communities. By the end of FY25, the company plans to have eight communities with about 2,000 homes under construction and on sale across nine cities in India.
BUSINESS
MC Explains: Can development work be reversed if a master plan is withdrawn?
The Karnataka High Court says even if the state government withdraws a master plan, the occupancy certificates cannot be withdrawn by local municipal corporations.
BUSINESS
MAIA Estates to invest Rs 3,000 cr and develop 4.5 million sq. ft property in Bengaluru
Ruia said MAIA Estates plans to raise over Rs 1,200 crore from investors, which will be deployed for the new developments. Remainder of the funds will come from sales to customers and construction finance on the residential side of business
BUSINESS
Projects with partial occupancy certificate not classified as ongoing: KRERA
The real estate regulator dismissed pleas for delayed compensation and held that a development will be considered complete where the partial occupancy certificate has been issued.
BUSINESS
Ahead of Karnataka elections, political parties seek to woo homebuyers
Both the ruling Bharatiya Janata Party and the opposition Congress have promised to amend the contentious Karnataka Apartment Ownership Act and address homebuyers’ problems.
