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.
BUSINESS
Sinking hamlet: After Joshimath, a shattered vision of development looms over Nainital
Parts of Nainital have started sinking. Major roads have started showing cracks. Experts say policy interventions and more budget for a sustainable approach to development are needed.
BUSINESS
Mana Projects plans to develop 10 msf with potential revenue of Rs 2,500 cr in Bengaluru
The company has already acquired 35 acres of land in FY23 for Rs 75 crore in the city. The five projects will include 2BHK compact smart homes, starting from Rs 75 lakh and 3/4BHK luxury inventories starting from Rs 2.75 crore. It will also include mid-range 3BHKs, priced at Rs 1.4 crore.
BUSINESS
RERA watches out for homebuyers but who watches over the watchdog?
State real estate regulatory bodies do not fall under the ambit of the state Lokayukta to address homebuyers' grievances
BUSINESS
Affordable homes in outskirts of Bengaluru being snapped up as Whitefield metro boosts connectivity
Bengaluru Development Authority officials say only 34 inventories are unsold in project locations close to the Kengeri metro station.
BUSINESS
Amid a rental frenzy, NRI investments in Bengaluru real estate slowing down
This may seem counterintuitive but high prices that seem to have reached peak appreciation and worries over crumbling infrastructure have contributed to the waning interest
