BUSINESS
Bengaluru Development Authority to launch 322 luxury villas in the city
About 170 4BHK and 152 3BHK villas with a carpet area ranging from 1,500-2,300 square feet will be sold for Rs 75 lakh-1.1 crore
BUSINESS
NAREDCO Conference: Balancing affordable housing with crucial infrastructure boost in India
Speaking at NAREDCO's Silver Jubilee 25th Foundation Day conference in Hyderabad, government and independent experts pointed out that while the need for infrastructural push is crucial, affordable real estate will contribute majorly to India's climbing GDP.
BUSINESS
MC Exclusive: Karnataka court stays construction at Sterling Ascentia project in Bengaluru
The towers are allegedly being built on stormwater drains.
BUSINESS
Concorde Group eyes Rs 900 crore revenue from new Bengaluru launches within 2 years
There aren’t enough homes to meet demand for luxury housing in Bengaluru after the pandemic.
BUSINESS
Karnataka HC quashes stay on housing association registered under Cooperative Societies Act
The residents’ welfare association of Klassik Landmark apartment had registered itself under the Karnataka Cooperative Societies Act, and the stay of that registration had left them in limbo. The court has now given the Deputy Registrar of Cooperative Societies two months to consider the appeal and dispose of the case.
BUSINESS
TVS Emerald, HDFC Capital sign housing deal in Chennai, more in the works
The transaction sizes of the projects will range from Rs 50 crore-200 crore and will be tailored to suit the mid-segment housing market
BUSINESS
About 70% of millennials, Gen Z in Bengaluru struggle to find affordable rentals: Report
With rental properties not available in prime locations, most millennials and the Gen Z have spilled over to the suburbs of Bellandur in the south, Whitefield in the east and southern Bengaluru like JP Nagar.
BUSINESS
SC modifies NCDRC order for delayed project in Bengaluru, directs developer to pay interest, compensation
About 62 homebuyers who had purchased apartments in the Mantri Serenity project had filed an appeal in the Supreme Court challenging the initial dates for the calculation of delayed interest, as per the NCDRC order passed in 2020.
BUSINESS
Karnataka RERA asks developer, landowners of a delayed project to form association of allottees, bear costs
The real estate regulator ruled that both landowners and the developer are jointly responsible for finishing the project.
BUSINESS
Prestige Group launches its largest residential township in Bengaluru, eyes Rs 6,000 crore topline
The company plans to materialise the topline within the current financial year.
REAL-ESTATE
Puravankara to launch 7.6 million sq ft of residential projects this fiscal, eyes topline of Rs 5,000 crore
The company is also looking forward to deploying Rs 300 crore of alternate investment funds across Bengaluru and Chennai by the end of this year.
BUSINESS
MC Exclusive: Century Real Estate to launch 7 million sq ft business park in Bengaluru
The company plans to invest Rs 3,400 crore to launch 9 million square feet (msf) of projects in Bengaluru within the next financial year.
BUSINESS
Luck, perseverance key to finding affordable rentals in Bengaluru
Finding an affordable home inside a largely unaffordable market like Bengaluru is often akin to making an omelette without breaking some eggs.
BUSINESS
Bengaluru office vacancy to rise in H2 2023; retail rentals remain flat: Report
However, the severe traffic woes in the city need to be resolved. There is a need for seamless connectivity between bus and metro lines, and last-mile connectivity.
BUSINESS
Prestige Group announces foray into virtual space of Metaverse
While classified platforms or online real estate listings can be a thing of the past, experts say the metaverse, or virtual reality, is the future.
BUSINESS
Karnataka real estate regulator asks association of allottees to take over delayed project in Bengaluru
The Authority has directed the association to be registered under Karnataka Cooperative Societies Act 1959 in order to take over completion of the project
BUSINESS
Karnataka High Court accepts petition challenging provisions of Real Estate Regulatory Act
The petition asks that Section 22 of RERA be struck down as the manner of appointment of members to the RERA dilutes judicial independence
BUSINESS
Soaring rents in Bengaluru foster comparisons with Mumbai
But it’s not a strictly like-for-like assessment. While more than 50 percent of the floating population in Bengaluru makes the city a rental-driven market, Mumbai continues to witness high traction in capital sales
BUSINESS
Bengaluru municipal body asks engineers to track construction violations
BBMP has set up a task force to monitor and take action against illegal construction in the city.
BUSINESS
Karnataka's real estate regulator asks developer to enable formation of association as a cooperative society
Passing an order partly for a homebuyer in Istartha Apartment in Bengaluru, the authority asked the developer to provide an occupancy certificate and also to take immediate steps in resolving issues regarding the formation of the residents’ welfare association.
BUSINESS
MC Explains: Tenants in a spot as rentals for PGs, co-living set to soar in Bengaluru
With the sector falling in the GST net, costs are bound to rise. Meanwhile, experts say that in the co-living sector, several large operators have already started consolidating, while several smaller players have shut shop.
BUSINESS
Failing to pay pre-EMI, Karnataka RERA directs developer to refund entire amount for a delayed apartment in Bengaluru
KRERA noted that the project, Ozone Urbana, has been stalled for the last three years and that the developer is nowhere close to completing it.
BUSINESS
Karnataka's real estate regulator stipulates minimum parking space provisions for apartments in Bengaluru
The Authority also noted that the sale of an apartment should be solely based on carpet area and not super built-up area.
BUSINESS
Olive by Embassy to add 2,500 co-living beds in Bengaluru, Mumbai within one year
The company plans to touch 5,500 keys within the next year and 30,000 keys over the next five years across the entire co-living and hospitality segments.
