BUSINESS
Shriram Properties to deliver 2.5 million sq ft of residential space by FY24, eyes sales of Rs 1,500 crore
The company is looking forward to launching at least 5.3 msf by the end of FY24 comprising about 5,000 units. The company sees strong growth in the affordable segment, plus the standard growth in demand in all the mid-market and luxury segments.
BUSINESS
Provident Housing to launch its first themed villament in Bengaluru, eyes top line of Rs 600 crore
The company said it has already launched about 2 million square feet (msf) to date and plans to take that figure to about 3.3 msf by the end of FY24.
BUSINESS
SC directs Mantri Developers to offer possession of apartment in delayed Bengaluru project
The builder had apparently not handed over flats to buyers who had sought legal remedies for the repeated and lengthy delays in handover of the flats.
BUSINESS
MC Explains: Can landlords ask tenants to vacate in order to sell the apartment?
Tenants sign unregistered agreements in order to skimp on the applicable stamp duty. This makes it difficult for them to legally challenge a notice from the landlord to vacate the premises.
BUSINESS
North Bengaluru commands higher rental yield than eastern IT corridor, prime areas
In terms of rental growth, Sarjapur Road and Whitefield in the east have an edge over North Bengaluru because of their proximity to the major IT parks.
BUSINESS
Not just domestic homebuyers, festival season attracting NRIs as well
However, lack of transparency and maintaining the property are among the prominent challenges for offshore investors, say experts
BUSINESS
Bengaluru rental crisis: Tenants in a spot after landlord asks them to vacate to sell premises
Experts say Bengaluru is now a sellers' market where landlords are scrambling to sell their properties at high prices, while tenants are left looking for apartments in a market where rentals have jumped by 20-30 percent, and even 40 percent in prime areas.
BUSINESS
Prestige Group to launch its largest township in Hyderabad, eyes Rs 8,000 crore in sales
The investment for the project is about Rs 5,000 crore; the apartments and villas are set to be handed over in 2027.
BUSINESS
MC Explains: Can housing societies charge for keeping pet dogs inside residential projects?
Bengaluru's municipal body says it is unauthorised and even illegal to charge maintenance fees for keeping pets inside housing projects; it is working on an updated pet policy for the registration of pets in the city.
BUSINESS
Non-resident Indians struggle to maintain their real estate assets in Bengaluru; some consider exiting
Commercial real estate, which requires sizeable capex in investments, has gained an edge over residential investments among NRIs due to attractive return rates.
BUSINESS
Karnataka RERA asks Mantri Developers to register residential project as ongoing in Bengaluru
The Authority said the completion certificate, obtained by the Mantri Group before RERA was enacted, did not contain the name of the project. Additionally, it said the project clearances were obtained after the enactment of RERA.
BUSINESS
Leopard sighting stirs fear among residents in Bengaluru, advisories issued to housing associations
Housing associations have been asked to curb movement in the dark and to take precautions with children until the situation is under control.
BUSINESS
Kanakapura property prices set to rise after Dy CM proposes its integration with Bengaluru
Currently, real estate prices in Kanakapura city are close to Rs 80 lakh to Rs 1 crore per acre. In Ramangara city, prices have crossed Rs 1 crore per acre.
BUSINESS
Israel-Hamas war may attract NRI property investors to India, say experts
However, non-resident Indians are also cautious because of rising capital prices in places like Bengaluru and the upcoming general elections.
BUSINESS
Karnataka HC quashes FIR against Mantri Group, vacates ED attachments over delayed project in Bengaluru
The court said that offences under the Prevention of Money Laundering Act, 2002, cannot independently stand after the quashing of the FIR
BUSINESS
Karnataka RERA flags unregistered housing association; asks developer to transfer corpus fund
If the project is delayed, stalled, or abandoned, the RWA can approach RERA to take it over. Only an association registered as a cooperative society can make such a takeover, explained the Authority.
BUSINESS
Hamas conflict: Israeli investments in India’s real estate sector may slow down temporarily
Industry experts say the fund inflow from Israeli firms into Indian real estate ranges between $10 million and $30 million per annually and is growing 20-30 percent.
BUSINESS
Karnataka cracks down on housing associations for unlawful registration under KSRA Act
Resident welfare associations registered under the Karnataka Societies Registration Act, 1960 cannot hold bank accounts for the purpose of maintenance collection, several Karnataka High Court orders have already said.
BUSINESS
From a sleepy suburb to a startup hub: The phenomenal rise of HSR Layout in Bengaluru
One of the premium real estate locations in the city, HSR Layout today grapples with severe infrastructural issues and traffic snarls.
BUSINESS
Bengaluru: What the Kengeri-Whitefield Metro linkage means for real estate along the Purple line
While the metro line will open doors to real estate investments, experts say capital appreciation in prime areas will be slow in the coming years. However, rentals will shoot up considerably.
BUSINESS
Karnataka court provides relief to senior citizens living without electricity
Power supply to the senior citizen couple’s flat was cut in 2018 after they questioned the legality of the owners’ association.
BUSINESS
Completed Kengeri-Whitefield metro line will boost rental, capital values of real estate by 10-15%
Local brokers add that it will spell a spike in demand for real estate in the suburbs close to the eastern IT corridor and central Bengaluru.
BUSINESS
Karnataka Revenue Dept cracks down on govt land encroachments, recovers Rs 35 crore
This comes after Revenue Minister Krishna Byre Gowda told the Legislative Council that the government would establish monthly goals for revenue department employees to reclaim encroached government lands.
BUSINESS
Homebuyers cannot claim interest for delay after accepting refund of booking amount: Karnataka RERA
A homebuyer found that a project developed by listed developer Puravankara Ltd was under litigation only after paying a booking amount of Rs 5 lakh. He sought a refund and received it after a delay
