Bangalore civic body to hold ground floor in under construction buildings until issuance of OC
March 27, 2017

Bruhat Bengaluru Mahanagara Palike (BBMP) has announced that it intends to hold the ground floor of under construction G+4, or higher, buildings until the owner meets all construction norms.  In order to authorise itself to do the same, the civic body plans to amend the building byelaws, according to a proposal presented in its Budget 2017-18.   This means that anybody constructing a G+4 structure or higher will have to register the ground floor in… Read More

Bangalore anticipates office space supply of 11 million sq ft in 2017
March 24, 2017

A report by Colliers international pegs the anticipated supply of office space in Bangalore this year at 11.1 million sq ft. Of this, 50 percent is set to come up in the Outer Ring Road (ORR) belt while the remaining supply will be spread across North Bangalore, Whitefield, and Electronic City. The report stated that vacancy levels are expected to remain low even with substantial supply proposed in most micro markets, due to absorption of… Read More

Bangalore, Mumbai, Chennai, New Delhi among the cheapest cities in the world
March 23, 2017

As per Economist Intelligence Unit's Worldwide Cost of Living Survey (UWCLS), Bangalore, Mumbai, Chennai, and New Delhi have made it to the top 10 in the list of cheapest cities in the world. As pointed out by the report, the cities that made the final cut had well-documented economic, political, security and infrastructural challenges. The survey analysed more than 150 purchases in 133 cities across the globe to conclude that some of the cheapest cities… Read More

Authorities work towards better livability index for Bangalore
March 21, 2017

According to the Mercer 2017 Quality of Living Index, Bangalore slipped one notch to 146 in this year’s survey ranking. To improve the city’s rank in the next year’s survey, the local and state authorities have initiated a few strict measures. After putting a ban on digging newly laid tar roads in the Whitefield area, the Bruhat Bangalore Mahanagara Palike (BBMP) has decided to act against Optical Fibre Cable (OFC) service providers in the city… Read More

Karnataka budget: Bangalore receives Rs 4410 crore for infrastructure
March 16, 2017

The Karnataka government has allocated Rs 4,410 crore for infrastructure and welfare programmes in the state capital. The allocated money will be reserved to build grade separators, improve important roads and build bridges under and over railway tracks across Bangalore. While presenting the annual budget for this fiscal year, the state government disclosed that Rs 200 crore of the allocated chunk are reserved to build footpaths in the city. Building a road connecting Kempegowda Layout,… Read More

Soaring steel, cement prices in Bangalore likely to impact realty: CREDAI
March 15, 2017

In the last few months, the prices of steel and other metals have risen by 30 percent. Similarly, the prices of other construction materials such as cement and sand have also seen an increase of around 20 percent in last few months. Commenting on this observation, the Confederation of Real Estate Developers' Associations of India (CREDAI) stated that this surge can affect the real estate market in Bangalore in the next six months. JC Sharma,… Read More

Press Release

PropUrban expands to London, Dubai, Chennai and Hyderabad
March 15, 2017

PropUrban expands to London, Dubai, Chennai and Hyderabad15th March 2017 Global Real Estate Investment Advisory platform, PropUrban, has recently extended its market reach by opening offices in London, Dubai, Chennai and Hyderabad. With this, the company aims to enhance customer engagement for its global business and target NRIs and overseas investors looking for cross-border investments. The firm further plans to hire a staff of 50-60 employees for its local and international offices. Read More

Karnataka links TDR to guidance value
March 14, 2017

Karnataka government has finally announced its new Transfer of Development Rights (TDR) policy which links TDR with guidance value. This move is aimed at allowing development using parcels of notional land that will be available in the form of TDR certificates. TDR refers to the additional built up area or notional land granted to a landowner who gives up his land a public project. The new policy allows the landowner to be given twice the area… Read More

Proposed Bangalore skywalk connecting Yeshwantpur Metro and railway station yet to take off
March 11, 2017

A skywalk proposed nearly three years ago to connect the Yeshwantpur Metro station with the Yeshwantpur railway station in Bangalore is being delayed due to an ongoing funding tussle between Namma Metro authorities and the Railways. The 400 m long skywalk, which is expected to cost around Rs 1 crore, will benefit passengers opting to use the Metro service to reach the railway station. Since the skywalk will be used by the commuters of both… Read More

Karnataka plans a new city to decongest Bangalore
March 9, 2017

The Karnataka government is thinking of developing a new city in Kolar Gold Fields (KGF) to relocate at least 20 lakh of Bangalore’s population to the new planned city. The objective of such an ambitious project is to decongest Bangalore. R Roshan Baig, Urban Development Minister, Karnataka, said that the city will be developed on 11,000 acres of abandoned mining land in Kolar Gold Fields (KGF), which lies around 100 km away from the state… Read More

BDA authorised to issue new TDRs in Bangalore
March 7, 2017

After waiting for three years, the Karnataka government has framed new rules for the Transfer of Developmental Rights (TDR). Earlier, the Bruhat Bengaluru Mahanagara Palike (BBMP) was entitled to issue the TDR certificates, however, the government has enabled the Bangalore Development Authority (BDA) to issue them henceforth. The TDR certificates will be issued to property owners whose properties would be used for road widening purpose or for any other development action. Under the new regime,… Read More

Government scraps steel flyover project in Bangalore
March 5, 2017

Acceding to the pressure from environmentalists and citizen groups, Karnataka government has dropped the controversial steel flyover project in Bangalore. The proposed flyover between Basaveshwara Circle and Hebbal would have shortened the commute to the airport by 10 minutes. However, the project involved cutting down 812 trees which received strong opposition from citizens. The proposed project was to be carried out by Larsen and Toubro Ltd (L&T) in a joint venture with Nagarjuna Ltd. The… Read More

Cabinet approves Central Silk Board-KR Puram metro line in Bangalore
March 4, 2017

In order to strengthen connectivity to the city’s Information Technology (IT) district, the Cabinet recently approved a Rs 4,202 crore metro corridor, which will connect the Central Silk Board to KR Puram. After chairing a Cabinet meeting, TB Jayachandra, Law and Parliamentary Affairs Minister, Karnataka, confirmed that the proposed route’s Detailed Project Report (DPR) has been made public for suggestions, which would be further reviewed by the Cabinet to ensure the project’s speedy implementation. The… Read More

No more land allotment with 99-year lease condition in Karnataka
March 3, 2017

Karnataka government has decided to dispose of the system of allotting land on 99 year-long leases. Henceforth, the Karnataka Industrial Areas Development Board (KIADB) will issue absolute sale deeds. This decision has been spurred by the long-standing demand of real estate sector and industrial associations. Karnataka’s law minister TB Jayachandra commented that the current 99-year lease condition for land allotment had been causing issues in the execution of infrastructure projects and housing complexes. Acknowledging the requests… Read More

Bangalore and Mysore to be connected via 6-lane road
March 2, 2017

Travelling between Bangalore and Mysore is going to become hassle-free by 2021 as the National Highway (NH) 275 will be converted into a six-lane road. The Centre’s new finance model is set to give a push to this project. The undertaking has been divided into two packages with separate bids for the 56 km long Bangalore-Nidaghatta section and the 61 km long Nidaghatta-Mysore stretch as per tender documents. While the estimated cost for the Bangalore-Nidaghatta… Read More

Bangalore records lowest office space vacancy in India: Report
March 2, 2017

As compared to other major cities in the country, Bangalore continues to observe the lowest office space vacancy. As per a report by JLL India, there is four percent vacancy across the office space segment in the city due to a good supply-demand equilibrium compared to other markets in India. However, the report also highlights that developers in Bangalore’s Information Technology (IT) hubs need to address the existing space crunch before the situation prompts businesses… Read More

Bangalore’s ranking slides in national civic infra index
March 2, 2017

In spite of being rated as the third richest city in the country, Bangalore was recently ranked 16th in the annual survey of India's city-systems (ASICS) by Janaagraha. However, the survey pointed out that the city slipped from the 12th position in the same survey last year not due to worsening infrastructure, but due to the better performance of other cities. While Thiruvananthapuram maintained its first rank, other tier 2 cities such as Bhubaneswar, Ahmedabad,… Read More

BMRC awards bid for purple line extension of Bangalore Metro
March 1, 2017

The extension of Bangalore Metro’s purple line is one step closer to reality with the Bangalore Metro Rail Corporation (BMRC) finalising the contractor for the project. This is the fourth contract under phase II of Namma Metro, following Mysuru Road extension and Yelachenahalli works. The extension project will connect Nagasandra (Hesaraghatta cross) to Bangalore International Exhibition Centre (BIEC) section of the North-South line. This is a three km long elevated line and will have three stations,… Read More

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