BUSINESS
Go Digit, Denta Water, KRN Heat Exchanger get Sebi nod to launch IPO
It is one of the first non-life insurers in India to be fully operated on the cloud and has developed application programming interface (API) integrations with several channel partners.
BUSINESS
Karnataka developers owe Rs 486 crore to homebuyers in refunds
The total money to be recovered by the state's revenue department has almost doubled from Rs 245 crore in July 2022. Among the developers, the Ozone group alone owes homebuyers a whopping Rs 93.6 crore in refunds.
BUSINESS
Karnataka RERA orders homebuyers to take over and complete delayed Bengaluru project
The residents' welfare association (RWA) had approached the RERA authority stating that the project remained incomplete eight years after construction commenced.
BUSINESS
In Mumbai, Rs 8 crore can buy 1100 sq ft of prime residential space; down by 8% YoY: Wealth Report 2024
Mumbai found a place in the top 10 global luxury markets and also ranked eighth on Knight Frank’s Prime International Residential Index in 2023 from 37th rank in 2022, up by 10 percent year-on-year growth.
BUSINESS
Bengaluru to see major hike in property tax, double taxation on rental properties
Experts say the changes proposed by the civic body will push the already soaring apartment rents even higher
BUSINESS
Affordable Rental Apartments: Top 5 Areas in Bengaluru
Despite soaring rental rates in Bengaluru, some areas still offer affordable housing options. Here's a list of some areas that are relatively easy on the pocket
BUSINESS
Getting High: Karnataka realty amendment will spur taller buildings, burden creaky infra
Experts from Bengaluru feel the move will tremendously burden the city’s stormwater drains, traffic, parking facilities, and sewage networks, as they expect to see an increase in the population density
BUSINESS
KRERA orders developer undergoing insolvency resolution to handover possession
Karnataka RERA said that companies that are not commercially sustainable should not be held in resolution for extended periods.
BUSINESS
Brigade Group signs pact to develop high-rise in Chennai, eyes Rs 2,000 cr revenue
The project sprawling 2.5 million square feet is located in Perambur.
BUSINESS
Motilal Oswal Alternates announces first close of Rs 1,250 crore for its 6th real estate fund
The company said it has signed three term sheets with Grade A developers in Bengaluru, Chennai, and Hyderabad and expects to close the first transaction within two weeks.
BUSINESS
Brigade Group to add 3 million sq ft of office space, eyes revenue of Rs 380 crore
The company said in the retail segment, it will be a mix of big and small, with a huge destination mall in Hyderabad and two smaller ones as a part of its townships in Bengaluru, to begin with.
BUSINESS
Skootr to double its managed working space portfolio in Bengaluru by FY24
The company eyes a rental revenue of Rs 700 crore with the upcoming developments. In FY25 the company plans to add 2 msf of managed working spaces with a potential revenue of Rs 1,000 crore in Bengaluru.
BUSINESS
Karnataka HC order to state govt highlights discrepancies in issuing OC in Bengaluru
The order has brought to light several ambiguities in the city's real estate sector and the state government needs to make it clear who is in charge of awarding OC in places that are not governed by any development authority
BUSINESS
Prestige Group to develop 9 mn sq ft of retail space, expand malls business into Mumbai and Delhi-NCR
New developments also include six malls in Bengaluru, two in Kochi, and one each in Chennai and Hyderabad.
BUSINESS
Gopalan Enterprises in Bengaluru eyes Rs 500 cr revenue by FY25 with mall portfolio repurposing
The company said it is on track to de-notify 0.5 million sq ft of SEZ spaces in Bengaluru after a recent rule-change allowed this.
BUSINESS
Going through the roof: What’s causing the unprecedented hike in Bengaluru's 1BHK rentals
Experts maintain that it will take some years until new supply comes in to bring stability to 1BHK rentals in the city.
BUSINESS
Zomato inks 3 lakh sq ft warehousing deal near Bengaluru, its largest transaction in India
The built-to-suit warehousing park has been developed by Bengaluru-based Sumadhura Group and the deal has been locked in for seven years.
BUSINESS
Puravankara plans to deliver 2,000 units, develop over 2 million sq ft by Q4FY24
In the last quarter of the fiscal, the company said it is looking at 1.8 msf of plotted developments across Bengaluru and Chennai,
BUSINESS
Embassy Group inks JDA for residential project in Bengaluru, eyes Rs 550-crore revenue
The project, which is expected to go live by the last quarter of FY24, will have 400 apartments (comprising 2 BHK, 2.5 BHK, and 3 BHK).
BUSINESS
Karnataka HC tells state to recover stuck homebuyers' money within 4 months
Homebuyers in projects delayed by up to four years in Bengaluru are waiting for their money to be recovered by the state under the orders of the Karnataka RERA. Experts say they have identified the critical problem and are advising the government on faster recoveries.
BUSINESS
Real estate regulators hampered by compliance issues, lack of transparency
Challenges faced by RERAs in the states were highlighted at NAREDCO’s 16th national convention
BUSINESS
Budget pushes infra growth, PMAY, but leaves homebuyers disappointed
Developers say they look forward to the final budget post-elections and remain hopeful that the government will announce more policy initiatives to encourage housing for all further --- both for buyers and promoters.
BUSINESS
FM’s Viksit Bharat theme to boost the real estate sector in Tier II and Tier III cities: Experts
Interim Budget 2024: The Gati Shakti initiative launched earlier and the focus on infrastructure and technology announced in today's presentation could potentially spur higher real estate activity in these cities.
BUSINESS
What do homebuyers want from the Union Budget 2024?
Homebuyers say the budget for regulatory bodies like the Real Estate Regulatory Authority (RERA) and also a major tax exemption is needed to provide relief for first-time homebuyers.
