Total Environment, a Bangalore-based real estate developer, secures over INR 1,600 crore funding, accelerating residential project delivery across Bangalore spanning 12 million sq. ft. The funding, sourced from top banks, comes after robust residential sales performance. Founder Kamal Sagar attributes their strategic exit from expensive debt to sales focus and market uptrend, enabling loans at lower interest rates (9.7% to 12.5%). This shift from higher-interest investments marks Total Environment's transition, aiming to deliver 100 homes monthly. The move aligns with the booming Indian residential sector, witnessing heightened sales and increased investments, positioning Total Environment advantageously in Bangalore's competitive market.Read more

Bangalore-based Gopalan Enterprises plans to invest INR 2,000 crore to develop a 20 million sq. ft office portfolio, aiming to increase annual rental income to INR 500 crore within four to five years. This strategic move addresses the rising demand for large corporate campuses. With prestigious clients like Oracle, Samsung, Google, and TCS, Gopalan focuses on key locations like Whitefield and Outer Ring Road in Bengaluru. Additionally, they are expanding their aerospace park to 1 million sq. ft and diversifying into various sectors, positioning themselves for growth in real estate, aerospace, education, and more.Read more

Deputy Chief Minister D K Shivakumar of Karnataka has issued a reminder to property owners in Bengaluru regarding the ongoing 'One Time Settlement' (OTS) window for outstanding property tax payments. The scheme, closing on July 31, offers a 50% reduction in penalties and a waiver of interest payments. Despite this opportunity, over 4 lakh property owners are yet to participate, out of approximately twenty lakh properties eligible for the scheme. Shivakumar stressed the importance of tax compliance, warning of repercussions for defaulters after August 1. The digitization process of properties is underway to facilitate easier tax compliance. Additionally, Shivakumar addressed concerns about unauthorized flex banners, urging strict action and encouraging public complaints through the BBMP helpline.Read more

Texas-based Ashton Gray Investments has opened a Bengaluru office to cater to India's burgeoning investor community. With over 200 Indian investors already in their portfolio, Ashton Gray aims to provide access to stable US real estate markets for discerning Indian investors. The expansion reflects the company's commitment to India and its vision of fostering long-term relationships. Ashton Gray's proven track record, highlighted by successful exits and promised returns, underscores its dedication to shared success. The Bengaluru office marks a strategic move to empower Indian investors with opportunities for financial growth and stability in the US real estate market.Read more

Bosch Global Software Technologies has leased 691,320 square feet in Bengaluru's Electronic City, housing around 8,000 employees. This expansion, dedicated to Robert Bosch's Knowledge Process Outsourcing (KPO) operations, underscores Bosch's commitment to India's tech and engineering talent. The five-year lease, with a renewal option, reflects Bosch's long-term vision. Bengaluru's office space market saw a 40% year-on-year leasing increase in Q1 2024, driven by tech and engineering sectors. Other tech giants like Walmart, Samsung, Uber, and Google are also expanding in Bengaluru, solidifying the city's status as a global tech hub. Bosch's new facility reinforces its significant role in India's innovation ecosystem.Read more

Google has leased 649,000 square feet of office space at Alembic City in Whitefield, Bengaluru, at a monthly rent of INR 762 per square foot for a three-year lock-in period. This move aligns with Google's strategy to expand its footprint in India, adding to its recent leases in Hyderabad (600,000 sq. ft.) and Bengaluru (1.3 million sq. ft.). The combined leases amount to 3.5 million sq. ft. since 2020, bringing Google's total Indian office space to over 9.3 million sq. ft. Additionally, Google plans to start manufacturing Pixel smartphones in India, reflecting its significant investment in the country's tech sector.Read more

Concorde Mayfair, a cutting-edge development in Yelhanka, Bangalore by Concorde, offers a holistic urban lifestyle. Spanning 3.35 acres, this project merges 217 carefully crafted 2 and 3 BHK residences with commercial units and retail outlets, creating a self-sufficient community. With 60%+ open spaces, residents can seamlessly live, work, and relax within this dynamic microcosm. The project features four 14-story towers, including a pinnacle 'Evolve' clubhouse on the 14th floor, providing unparalleled views and amenities. Emphasizing sustainability, Concorde Mayfair integrates eco-friendly practices and prioritizes connectivity, offering residents unmatched comfort and convenience in the bustling heart of Yelhanka.Read more

Manasum Group, one of India's fastest-growing senior living brands, has introduced "Banyan" at Godrej Royale Woods in North Bengaluru. This serene sanctuary for seniors offers a unique blend of luxury, comfort, and holistic wellness, setting a new benchmark for retirement homes in India. Strategically located just a 5-minute drive from the KIAL airport toll, Banyan features ready-to-move-in 1 & 2 BHK residences starting from INR 60 lakh onwards, designed to cater to the discerning needs of today's seniors. Spanning 13 acres, the Banyan project comprises 191 residences, while the Godrej Royale Woods project has a total of 1,678 units and features over 1,000 trees. Banyan's commitment to holistic living is evident through its comprehensive range of amenities aimed at ensuring the physical, emotional, and social well-being of its residents.Read more

Bengaluru-based builder Trifecta Projects unveils Trifecta Vanto, blending luxury living with eco-friendly design on Sarjapur Road, East Bengaluru. Spread over 9 acres, the project offers 825 spacious apartments, ranging from 710 to 1,340 sq. ft., with prices starting at INR 68.5 lakh. The 50,000 sq. ft Platinum Oasis Clubhouse features extensive amenities, including a semi-Olympic-size swimming pool, virtual golf course, and eco-friendly workout options. With 85% open space, solar lighting, rainwater harvesting, and EV charging, Trifecta Vanto emphasizes sustainability. Completion is expected by August 2027, ensuring a luxurious and green lifestyle.Read more

The Karnataka State Pollution Control Board (KSPCB) mandates using treated water from sewage treatment plants (STPs) for construction in Bengaluru. This move aims to conserve groundwater resources valued at INR 3,584 crore (USD 48 billion). Despite initial concerns from builders about water quality affecting concrete strength, a study by the Indian Institute of Science (IISc) confirmed the safety and effectiveness of treated water. The initiative requires strict adherence to water quality standards by STPs. A successful pilot program in Bellandur is paving the way for city-wide adoption, potentially saving millions of litres of water annually.Read more

Bengaluru-based Century Real Estate plans to bring a substantial portion of its land holdings to market, aiming to generate INR 2,100 crore in sales during FY 2024-25. This move follows a successful year with a 121% growth in residential sales bookings. Managing Director Ravindra Pai highlighted that they are nearing completion on key projects, enabling them to focus on new developments in Bengaluru. The company boasts a 96% sell-out rate for residential inventory since FY24 began, reflecting strong demand. Century Real Estate's plan will introduce over INR 7,200 crore worth of new inventory this year, indicating confidence in Bengaluru's real estate sector.Read more

Housing prices in India's major cities rose by an average of 10% in Q1 2024, with Bengaluru leading at 19%. A report by CREDAI National, Colliers, and Liases Foras highlights this growth across eight key cities: Ahmedabad, Bengaluru, Chennai, Delhi-NCR, Kolkata, Hyderabad, Mumbai, and Pune. Strong housing demand, especially in areas with significant infrastructure development, is driving this trend. While unsold inventory in these cities totals around 1 million units, Mumbai holds nearly 40%. Pune, Delhi-NCR, and Ahmedabad saw a decrease in unsold inventory by 10%, 8%, and 8% respectively, indicating a healthier market balance.Read more

Sattva Group introduces Sattva Green Groves, a 45-acre development in Nelamangala, Bengaluru, featuring 750 villa plots. This project emphasizes open spaces and community living, with landscaped gardens and dedicated zones for all ages. The central clubhouse includes amenities like a swimming pool, gym, multipurpose hall, and library. Strategically located, Green Groves offers easy access to the airport and city via Nelamangala Road and the upcoming STRR project. Catering to the trend of plotted developments, Sattva Green Groves balances modern living with natural beauty, making it an attractive investment for discerning homeowners.Read more

Karnataka's Real Estate Regulatory Authority (RERA) has issued a significant ruling, ordering a developer to hand over the possession of common areas to the homeowners' association in a south Bengaluru project. The developer, Mahendra Homes Pvt Ltd, had obtained the occupancy certificate and completed the project, but failed to form an association as mandated by the RERA Act. The authority found that the developer charged unreasonable maintenance costs and threatened to disconnect essential services. Despite the execution of a Deed of Declaration, the developer did not complete several promised amenities and failed to provide individual electricity meters. RERA has now ordered the developer to complete the pending work and transfer the common areas to the association, addressing the persistent issues affecting homeowners in the state.Read more

Assetz Property Group, has launched Sora & Saki, an uber-luxury residential project at KIADB Hardware & IT Park in collaboration with Fairlark. This project features 990 spacious 3 and 4 BHK units with Large Living Balconies and over 25 world-class amenities, including a 25,000 sq ft clubhouse. Spread over 11.28 acres with 74% open space and a 50,000 sq ft retail area, Sora & Saki aims to redefine luxury living in North Bengaluru, offering modern design, convenience, and connectivity. Completion is expected by September 2028.Read more

Brigade Group, a prominent South Indian property developer, has announced a new residential project in Bengaluru. This venture, positioned on a 6.9-acre site along Old Madras Road, highlights Brigade's strategic expansion in the city's thriving real estate market. The project will be developed through a Joint Development Agreement (JDA) and boasts a development potential of 800,000 square feet with an estimated gross development value (GDV) of INR 720 crore. This move highlights Brigade's confidence in Bengaluru's growth, driven by its IT sector and booming economy. The company continues to expand with additional projects across South India.Read more

Strata has invested INR 115.45 crore in 140,000 square feet of office space in Bengaluru's Whitefield, housing Puma India's headquarters. This marks their eighth investment in the city, highlighting Whitefield's appeal as a prime business hub. Tech giants like Wipro, Infosys, and IBM have collectively invested over INR 5,000 crore in Whitefield, while GE Healthcare and Unilever have invested significantly in healthcare and pharmaceutical facilities. The hospitality sector, with investments from Marriott and Hilton, has also surged. Strata's fractional ownership model democratizes commercial real estate investment, making Whitefield's lucrative market accessible to smaller investors.Read more

Narayana Health, an Indian healthcare provider with 18 hospitals and 3 heart centers, has acquired a 1.2-acre plot in Begur Hobli for INR 169 crore (USD 2.04 million). This strategic investment in Bengaluru's emerging southern region, known for its affordable land and rapid development, indicates plans for a new hospital or specialized medical centre. With a population over 12 million and a growing demand for healthcare, Bengaluru's sector is projected to grow at 12-15% CAGR. The government's INR 5,000 crore infrastructure investment in the south enhances accessibility, making it a prime location for healthcare expansion.Read more

The BBMP has implemented a series of enforcement measures to recover unpaid taxes from delinquent property owners. Despite repeated notices, many owners ignore their obligations, leading authorities to issue Form 13 to register BBMP's claims with the Deputy Registrar's office, thereby creating liens on their properties. To increase transparency and pressure defaulters, BBMP has also publicly released a list of the top defaulters, although past efforts have seen limited success. Despite the introduction of a one-time settlement scheme (OTS), which provides a 5% discount for prompt payments to resolve outstanding dues, compliance rates persist at disappointingly low levels.Read more

ArisUnitern, a real estate service provider, has partnered with Essem 18 to enhance its real estate portfolio through development management services. This collaboration aims to fast-track Essem 18's 18-acre plotted development in Shettigere, Bengaluru, by securing INR 40 crore in financing and providing sales and marketing support. ArisUnitern's role includes end-to-end project management, reflecting a trend where developers seek specialized services for quality and timely delivery. This partnership highlights ArisUnitern's growth, securing eight projects and raising over INR 300 crore recently, and underscores the evolving focus on quality in the Indian real estate industry.Read more