Advertisement
13 Jan 2025
The BBMP has identified 235 acres of encroached land across 183 active lakes in Bengaluru, with 120 lakes impacted by private properties and 131 by government projects. Despite legal actions and a ?52.55 crore allocation for lake conservation, only seven acres have been reclaimed. Encroachments include roads on 116 lakes and cemeteries on 15. The court has demanded detailed encroachment data, urging BBMP to expedite action. These lakes, vital for the city's ecology and water supply, face severe threats amid rapid urbanization. Citizens are encouraged to support conservation efforts to protect Bengaluru's diminishing natural resources.Read more
13 Jan 2025
East Bengaluru's residential market witnessed an 87.4% YoY surge in supply, driven by a 33.6% increase in capital appreciation and an 11.4% rise in rents, according to Magicbricks. Budigere Cross led the growth with a 190% rise in supply and a 48% increase in property values, followed by Whitefield (91.35%), HSR Layout (83.3%), and Sarjapur (75%). The surge is fueled by infrastructure upgrades, including connectivity via Old Madras Road, Outer Ring Road, and Namma Metro. Premium housing demand surged, with INR 10,000 psf properties comprising 37% of the demand. East Bengaluru continues to solidify its position as a prime residential hub.Read more
08 Jan 2025
The Bengaluru Development Authority (BDA) has outlined plans for the development of six new residential layouts as part of the Peripheral Ring Road-2 (PRR-2) project. To support this initiative, the BDA will acquire approximately 3,000 hectares of land from both government and private sources across various villages in Bengaluru's outskirts. The project aims to address the city's growing demand for housing by creating 50,000 new residential sites. Landowners will receive compensation under a 40:60 ratio, with 40% paid as developed plots in the new layouts while the remaining 60% will be monetary compensation. The development is expected to improve urban infrastructure, alleviate housing shortages, and stimulate the real estate market.Read more
08 Jan 2025
Property transactions in Bengaluru faced significant delays at the start of the year due to confusion over the transfer of 90 sub-registrars. Disputes over positions and conflicting court orders disrupted operations at several sub-registrar offices, with some officers lacking necessary system login IDs. This led to backlogs and halted registrations, causing inconvenience for buyers and sellers. The state government, advised by the Advocate-General, issued login IDs to the newly transferred officers, but resistance from incumbents further complicated the situation. Authorities are working to resolve the issue promptly, highlighting the need for better management of government employee transfers to prevent disruptions in critical public services.Read more
07 Jan 2025
In an effort to generate revenue for developmental projects without burdening taxpayers, the Bruhat Bengaluru Mahanagara Palike (BBMP) is focusing on its immovable properties, such as buildings and open spaces it owns or manages. The civic body plans to sell or lease these properties through a public auction, linking the rental value to the government's guidance value. Recently, BBMP notified draft rules on property management, seeking public objections. These rules aim to streamline the leasing process, make BBMP more self-reliant, and address issues like low rental values and lengthy leases to religious or educational institutions.Read more
07 Jan 2025
The Guntur Municipal Corporation (GMC) is contemplating adopting the Bengaluru model for managing vacant land in the city. The plan includes imposing fines on landowners whose properties become dumping grounds, contributing to public health issues. Around 20,000 neglected sites in the city are breeding mosquitoes and creating unhygienic conditions. While GMC has issued notices to landowners, many have not responded, worsening the situation. GMC officials are preparing a report to seek approval for penalties, and local legislators have called for immediate attention to the city-owned vacant sites.Read more
02 Jan 2025
Phase III of Bengaluru's Namma Metro is underway, with the Karnataka government acquiring 26,811 sq. m. of land for elevated corridors and stations between JP Nagar 4th Phase and Mysuru Road. The project impacts 197 private properties and requires 10,892 sq. m. of government land from agencies like BBMP and BDA. The Karnataka Industrial Area Development Board (KIADB) is overseeing land acquisition for BMRCL, ensuring fair compensation for affected landowners. Spanning 32.2 km from JP Nagar to Kempapura and 12.5 km from Kadabagere to Hoshalli, Phase III aims to modernize Bengaluru's transport infrastructure and ease traffic congestion.Read more
01 Jan 2025
The Bangalore Development Authority (BDA) is set to develop six residential layouts, creating 50,000 plots along the proposed Peripheral Ring Road (PRR)-2, connecting Hosur Road to Bengaluru-Mysuru Road. To manage high land acquisition costs and ensure fair farmer compensation, the BDA will adopt a public-private partnership (PPP) model. Spanning 3,000 hectares of land, the project will feature a 30-km-long, 100-metre-wide road with commercial plots on either side. Farmers will receive a 40:60 compensation ratio, including plots in the new layouts. Land acquisition is expected to complete in 6-8 months, with PRR-2 becoming operational within two years.Read more
31 Dec 2024
The Karnataka government has issued a preliminary notification to acquire land for the first stage of Metro's Phase III project. A total of 26,811 square metres of land will be acquired to build an elevated line and Metro stations between JP Nagar 4th Phase and Mysuru Road station. The project will also impact 197 private properties, including residential buildings and vacant sites. Along with this, 10,892 square metres of government-owned land will also be needed. The Phase III plan was approved earlier this year, and construction work will follow a geotechnical survey.Read more
27 Dec 2024
The Bruhat Bengaluru Mahanagara Palike (BBMP) has ordered the demolition of 29 buildings in the south zone, including areas like VV Puram, Vidya Peeta, and Hombegowda Nagar, citing gross deviations from approved construction plans. Violations include unauthorized floors and unapproved structures, breaching municipal regulations. This crackdown, directed by South Zone Commissioner Vinoth Priya R, is part of BBMP's broader efforts to tackle unregulated developments across the city. The initiative aims to enforce compliance, promote sustainable urban growth, and serve as a warning to developers and property owners flouting regulations, emphasizing adherence to legal construction norms.Read more
Advertisement
26 Dec 2024
Sattva Group has secured an 8.5-acre land parcel in Bengaluru's Export Promotion Industrial Park (EPIP) from a high-net-worth individual for INR 300 crore. It was previously occupied by global healthcare company Novo Nordisk India. The site offers a built-up area of 188,000 square feet, with future development potential of up to 1.2 million square feet and a 35 MW data centre. This acquisition strengthens Sattva's presence in Bengaluru's commercial real estate sector. The deal highlights growing developer interest in Bengaluru, particularly for properties with future growth potential. The company is also preparing for a REIT listing.Read more
23 Dec 2024
The Bangalore Development Authority (BDA) has introduced a new rule requiring flat buyers to pay a one-year maintenance fee upfront, effective December 2024. The fee, set at 1% of the flat's sale price, ensures smoother maintenance of infrastructure in residential complexes until Residents' Welfare Associations (RWAs) are established. If RWAs are not formed within a year, BDA will continue collecting the fees. The policy addresses challenges like unpaid fees and unsold flats, with over 2,000 flats currently affected. Private agencies hired for sales will charge a 3% service fee. The initiative aims to ensure better services and financial stability.Read more
19 Dec 2024
Airbus has secured over 650,000 sq ft of office space in Bengaluru's Whitefield area through a 10-year lease agreement to establish its global capability centre (GCC). The space, located in Titanium Tech Park, will support Airbus's worldwide innovation and technology initiatives. The deal includes an option to expand by an additional 150,000 sq ft after a year, potentially increasing the total leased space to 800,000 sq ft. This move is part of Airbus's growing presence in India, which also extends to aviation, defence, and manufacturing sectors.Read more
13 Dec 2024
The Karnataka state cabinet has approved Namma Metro's Phase 3A extension, linking Sarjapur to Hebbal at an estimated cost of INR 28,405 crore. The 36.6-km line will feature 17 elevated stations over 22.1 km and 11 underground stations over 14.5 km. It will connect Bengaluru's IT hub with northern areas, integrating with key lines: Blue at Iblur, Pink at Dairy Circle, Purple in the central business district, and Blue and Orange at Hebbal. While promising improved connectivity, Namma Metro's prior delays, such as Phase 1's five-year delay and Phase 2's incomplete sections, highlight challenges in execution. Timely planning and funding will be critical to avoiding cost escalations and meeting deadlines.Read more
11 Dec 2024
NR Narayana Murthy, the founder of Infosys, has set a new benchmark for residential property prices in Bengaluru by purchasing a second flat in Kingfisher Towers for INR 50 crore. This luxury apartment, located on the 16th floor, spans 8,400 sq ft and includes five parking spaces. The property, located in the city's CBD, commands a price of INR 59,500 per sq ft. Kingfisher Towers, built on the site of Vijay Mallya's ancestral home, includes 81 high-end apartments and has witnessed notable sales, with other prominent owners such as Kiran Mazumdar-Shaw.Read more
11 Dec 2024
The Supreme Court rebuked the Karnataka government for delaying compensation to landowners for land acquired in 1986, deeming the 33-year delay unconstitutional under Article 300A, which protects property rights. The court ordered compensation at the 2019 market value for Jayalakshmamma and others, whose two-acre land in Mysuru's Hinkal village was acquired for the Vijayanagar layout. Despite compensation being paid in 2019, it was unfairly calculated at 1986 rates. The court mandated reassessment of land value, with the revised amount to be deposited within four weeks. While condemning the delay, the court upheld acquisition due to public development priorities.Read more
10 Dec 2024
Namma Metro, Bengaluru's rapid transit system, is India's second-longest operational metro network, spanning 76.95 km with 68 stations. Operational since 2011, it has transformed urban mobility, connecting key areas through the Purple and Green Lines. Phases 2 and 3 aim to expand the network by adding 116.65 km, including extensions to IT hubs and new lines. The metro faces challenges like delays, cost overruns, safety concerns, and operational inefficiencies. Despite these issues, Namma Metro's increasing ridership and financial sustainability underscore its critical role in easing Bengaluru's traffic woes and supporting the city's economic and urban growth.Read more
10 Dec 2024
The Bengaluru Coalition, a newly formed citizens' group, aims to address violations of building regulations and promote planned urban development in the city. Comprising resident welfare associations (RWAs), NGOs, and the Bangalore Apartments Federation (BAF), the coalition seeks to tackle issues like unauthorized constructions and improve enforcement of civic laws. Motivated by ongoing challenges and a recent building collapse in Babusapalya, it collaborates with the Karnataka High Court's ongoing efforts to curb violations. With support from over 50 RWAs and BAF, the coalition advocates systemic reforms, educates citizens on legal recourse, and pushes for accountability to ensure sustainable urban planning.Read more
09 Dec 2024
The Bruhat Bengaluru Mahanagara Palike (BBMP) has issued a preliminary notification to acquire around 143 properties, including 94 buildings, to widen a 2.4-km stretch of Gunjur-Varthur Main Road in Gunjur village. The project aims to enhance the existing 30-meter road between Gunjur Lake and Vinayaka Theatre, part of State Highway 35. This road is one of 14 slated for development under the Revised Master Plan for 2025, with a total of 25 km planned for improvement. BBMP officials stated that the land acquisition will be compensated through transferable development rights.Read more
06 Dec 2024
The BBMP reported a property tax collection of INR 4,284 crore between April and November 2024, with INR 700 crore recovered from arrears. Nearly 88% of the total was collected via online payments, indicating the growing popularity of digital transactions. Mahadevapura was the highest contributor, while Dasarahalli recorded the lowest. Special Commissioner Munish Moudgil credited enhanced tax systems and outreach efforts for the achievement but acknowledged challenges, including arrears of INR 400-450 crore and inefficiencies in low-performing zones. BBMP aims to reach INR 5,200 crore in property tax collections by March 2025.Read more
Advertisement
