BDA to stop building new flats
April 24, 2017

The Bangalore Development Authority (BDA) has recently decided to stop constructing new high-end apartments in the city. Stuck with unsold inventory, the Authority is also considering renting out empty apartments in different localities of Bangalore, shifting its focus to clearing the inventory and improving facilities in existing apartments. At present, the authority is trying to find buyers for 1,065 flats, particularly in the suburbs. BDA was initially formed to provide affordable and quality housing in… Read More

Namma Metro phase II to be completed by 2020
April 21, 2017

The Bangalore Metro Rail Corporation Limited (BMRCL) has set 2020 as the deadline for the completion of phase II of Namma Metro project. BMRCL, which has taken years to complete the Phase I of the same project, is claiming to complete the work on the 72-km-long stretch within the above-mentioned deadline, using Rs 26,405 crore. To build 61 metro stations, including 12 underground stations on the stretch, the BMRCL will require 102.02 hectares of land,… Read More

Industries near Bellandur Lake in Bangalore ordered to shut by NGT
April 20, 2017

Post the infamous Bellandur Lake fire case, National Green Tribunal (NGT) has ordered the closure of all industries situated in the vicinity of the lake in Bangalore. The strict action was taken to prevent industrial units from dumping waste into the lake. The Tribunal has also imposed Rs 5 lakh fine to anyone violating this order and found discharging treated or untreated waste in and around the lake. Industries have been given one month's notice… Read More

Land transactions to become costlier in Bangalore
April 11, 2017

In an attempt to change the tax structure for large urban plots, the Karnataka government has announced new methods of levying stamp duty, which will apply to parcels of land converted for non-agriculture use. The new rule, which has come into effect from April 1, 2017, is expected to push up the cost of transactions in locations with high land prices. Until March 2017, the Department of Stamps and Registration used to calculate stamp duty… Read More

BBMP offers rebate to encourage online payment of property tax
April 6, 2017

After fixing the technical glitches in the online payment system, the Bruhat Bengaluru Mahanagara Palike (BBMP) has asked property owners to not hesitate to choose online payments. In an attempt to encourage cashless transactions, the civic body is offering a five percent rebate on the property tax if the payment is made online by April 30, 2017. As confirmed by BBMP, after fixing the technical flaws related to digital payments, the revenue officials are cracking… Read More

Bangalore projects near lakes with approvals received before May 2016 may continue construction: NGT
April 6, 2017

Buyers will not need to worry about investing in a property close to lakes in Bangalore, provided the builder has obtained the construction permit prior to May 2016. This announcement has been made by the National Green Tribunal (NGT) in order to ease the pains being faced by builders and buyers in Bangalore on account of the increased buffer zone around water bodies. It must be noted that the NGT had increased the buffer zone… Read More

Bangalore to spend Rs 1792.35 crore for development of core area
April 4, 2017

After the failed attempt to include the Bangalore’s Whitefield area into the Smart Cities list, the Karnataka government has decided to focus on the development of core city area in an endeavor to get it accepted in the next list. The Bruhat Bengaluru Mahanagara Palike (BBMP) has proposed to keep Rs 1792.35 crore aside for the development of the localities in the Central Business District (CBD) and other key areas in Bangalore. As confirmed by… Read More

Bangalore to have online approved building plans
April 1, 2017

Keeping with the Bangalore’s reputation as the Informational Technology (IT) capital of India, the Bruhat Bengaluru Mahanagara Palike (BBMP) will soon utilise the web technology to ease the procedure of getting building plan approvals. As confirmed by the civic body officials, residents will soon be spared the hassle of seeking building plan approvals from authorised zonal town planning officers. The citizens will soon be able to get their building plans approved online. Though, the E-khatha… Read More

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

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