Press Release

Mahindra Lifespaces commences handovers at Windchimes, Bangalore
October 18, 2018

Mahindra Lifespaces commences  handovers at Windchimes, BangaloreOctober 10th, 2018: Mahindra Lifespace Developers Limited (‘MLDL’), has begun handing over possession in Phase 1 of premium residential project ‘Windchimes’ in Bangalore. Windchimes is located on Bannerghatta Main Road, adjacent to the proposed Metro Phase 2 line, and comprises four towers spread across 5.85 acres.  The project is being developed in two phases and offers 400 thoughtfully designed, spacious and airy apartments in 3 and 4 BHK configurations.

No progress on Smart City projects in Bangalore
October 12, 2018

To provide superior infrastructure coupled with smart technologies in 100 cities across the country, the Central Government had launched the Smart Cities Mission. However, even after the formation of special purpose vehicle (SPV) and a grant of Rs 100 crore, not a single Smart City project in Bangalore has commenced. Officials have reasoned the absence of the SPV’s Managing Director as a major hindrance in the implementation of the project in the city. In 2017, the Urban Development Department (UDD) had designated the BBMP Commissioner as an additional charge of the SPV, but the Commissioner is already consumed with managing…

Press Release

Ajmera Group announces 5 new international projects
October 9, 2018

Ajmera Group announces 5 international projects 28th September 2018 Ajmera Realty & Infra India Limited announced their first international project in Bahrain along with the launch of four new projects in London across prime locations of Liverpool, Bishop Avenue, Southall and Kingston.For the domestic market, they are planning to launch a residential project in the vibrant city of Rajkot followed by the launch of Ajmera Nucleus in Bangalore and yet another project in their prime city of Mumbai.  

Government to increase access roads to Bangalore airport from trumpet flyover
October 7, 2018

To ease traffic congestion and provide swift movement to passengers and cargo to the Kempegowda International Airport (KIA), the Bangalore International Airport Limited (BIAL) has planned to construct three new access roads to the airport. These roads will commence from the Trumpet interchange and connect to the airport. While two of these roads will connect to the passenger terminal of the airport, the third road will connect to the cargo terminal. According to Javed Malik, Chief Operating Officer (COO), BIAL, in addition to the newly built roads, the airport operator will construct an elevated highway that will connect the upcoming…

Bangalore is the most preferred in Asia by tech occupiers: Colliers
October 6, 2018

According to a study by global property consultant Colliers International, Bangalore has emerged as the number one location for technology occupiers looking to expand their operations in Asia. The research report titled ‘Top Locations in Asia: Technology sector’ analysed 16 cities in developed and developing countries on 50 different criteria including human, socio-economic and property factors. With the overall score of 68 percent, Bangalore topped the list followed by Singapore with 62.6 percent, and Shenzhen with 60.9 percent score. Other Indian cities including Hyderabad was ranked 7th, Mumbai 10th and Delhi-NCR 11th in the list of 16 cities. Backed by its…

Bangalore civic body seals over 140 illegal commercial units
October 4, 2018

The Bruhat Bengaluru Mahanagara Palike (BBMP) has sealed as many as 144 unauthorised commercial units developed in the residential complexes in the city in the last nine months. Moreover, the civic body has issued notices to about 2604 traders violating the zoning regulations in residential areas. In East zone, around 1,357 notices have been issued and 51 establishments have been closed down in areas including CV Raman Nagar, Shantinagar and Sarvagnanagar. Commercial activities have been put to a halt in four other zones namely south, west, Dasarahalli and Mahadevpura. In the Bommanahalli area, no notices were issued, and the shops…

BBMP commences widening work on Bannerghatta road
October 2, 2018

The Bruhat Bengaluru Mahanagara Palike (BBMP) is involved in a road-widening project at Bannerghatta Road. Of the proposed road project, the construction work on a 2.5-km has already begun. Officials have shared that the road-widening project will be completed along Bannerghatta Road as scheduled. The civic body has commenced widening work on Bannerghatta Road near the Jedimara and Kolifarm junctions. It was proposed to widen the 7.5-km corridor running between Jedimara and KoliFarm on NICE Road to 45 metres or 160 feet. At present, the width of the road ranges between 18 and 24 metres. The proposed road project will…

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Puravankara Limited join hands with Keppel Land for commercial project
October 1, 2018

Puravankara Limited join hands with Keppel Land for commercial project1st October 2018 Keppel Puravankara Development Private Limited (KPDL), a joint venture between Puravankara Limited and Singapore based Keppel Land has joined hands to acquire 7.635 acres site in Yeshwanthpur, Bangalore, from Metro Cash & Carry India Private Limited (MCCIN). Strategically located close to the metro station, the site will be used to develop a Grade ‘A’ office tower with a gross floor area of 1.02 million square feet along with a 1.6 lakh sq ft retail-cum-office facility.

Bangalore-Mysore authority serves notices against illegal structures
September 28, 2018

The Bangalore-Mysore Infrastructure Corridor Area Planning Authority (BMICAPA) has issued a notice to two unauthorised layouts in Kodigehalli and Thirumalapura villages in Yeshwantpur hobli. It has been observed that these projects lack approval from the concerned authority. There are around 700 villages within the limits of BMICAPA, and a specific procedure needs to be followed to form layouts in such areas. As per section 14 (a) of Karnataka Town and Country Planning Act 1961, the change of land use has to be approved by the BMICAPA. As per the Section 76-M (2) of Karnataka Urban and Rural Planning Act 1961,…

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Century Real Estate launches a new township
September 25, 2018

Century Real Estate launched Century Greens September 22, 2018 Spread over 18 acres of land comprising 239 smart plots located near Bangalore International Airport, Century Real Estate has launched a new residential township, Century Greens. The project offers approximately 4.5 lakh sq ft of saleable area, consisting of various plots sliced in different sizes - 30x40 sqm, 30x50 sqm and 40x60 sqm. The new plotted development will be eco-friendly with infusions of smart technology and perfect for those aspiring for a green and sustainable lifestyle.

Karnataka RERA: List of approved projects and agents
September 11, 2018

After Maharashtra, Karnataka is the second most active state in the implementation of the Real Estate (Regulation and Development) Act (RERA) rules. The Karnataka government had launched an online portal for registration and filing complaints under RERA, and a regulatory authority for smooth execution of rules in the state. As per the latest information (as on September 11, 2018) available on the Karnataka RERA website, about 1,313 realty agents have applied for registration under the Act. Further, applications of 2,525 projects have been submitted to the portal. Of these, 2,009 projects have been successfully registered with the regulatory authority. Meanwhile, a…

Bangalore authority announces 10 percent discount on flats
September 10, 2018

The Bangalore Development Authority (BDA) has decided to offer a five percent discount to individual homebuyers, and a 10 percent discount to bulk homebuyers of flats developed by the development authority on Mysore road.    G Parameshwara, Deputy Chief Minister, Karnataka, has shared that the decision to offer a discount on the home purchase has been given to speed up the housing sales in the region, and to start all required development works from the sale proceeds. For those who book or buy 10 flats at a time will get 10 percent discount on the total cost of the house.  …

Karnataka to hike guidance value by up to 20 percent
September 6, 2018

The Karnataka government has proposed to increase the guidance value of properties by up to 20 percent. The decision is anticipated to generate a revenue of Rs 1,000-1,500 crore. Experts opine that the wide gap between the existing guidance value and prevailing market prices has been the primary reason for the hike in the guidance value. Guidance value is the base price at which properties are registered. Every city and locality have a different guidance value depending on the demand for land. The State government has put the proposal in public to gain suggestions and objections regarding the proposed revision…

Illegal structures served notices in Bangalore
September 3, 2018

The Bruhat Bengaluru Mahanagara Palike (BBMP) has issued notices to more than 2,000 buildings having unlicensed hoardings/structures. Notice has also been issued against people failing to respond to the previous public notice stating the voluntary removal of publicity material. V Sreenidhi, Counsel for BBMP, had previously informed that in regard to the public notices issued, the civic body had received responses from 1,800 out of the 4,178 owners of unlicensed structures. Around 400 applicants responded three days after the deadline of 20th August, and owners of around 2,000 buildings have not at all responded. The BBMP has been directed by…

Karnataka set to regularise B khata properties
August 30, 2018

Cheering thousands of homeowners, the Karnataka government is planning a scheme to regularise the B Khata properties that are under the corporation limits. To proceed with the scheme, necessary amendments will be made in the Karnataka Land Revenue Act, 1964. This move will help the property owners in obtaining an A khata by paying improvement and conversion fee. The owners will also be eligible to apply for bank loans. The move is anticipated to double the value of properties as they will gain a legitimate status. Manjunath Prasad, Bruhat Bengaluru Mahanagara Palike (BBMP) Commissioner, shared that the move will facilitate…

Karnataka to develop pre-fabricated houses for 750 homeless families
August 29, 2018

The Karnataka government will develop pre-fabricated houses to rehabilitate homeless families in Kodagu district due to natural calamities. The State government has identified about 42 acres of land to develop pre-fabricated units to accommodate over 750 families. UT Khader, Housing and Urban Development Minister, Karnataka, has stated that the houses would be developed according to the topography and withstand natural disasters. It has been reported that around 1,120 houses have been damaged in the recent floods and landslides. The natural disaster made 6,500 people homeless. Officials have informed that the pre-fabricated units will be developed in different shapes and sizes…

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Sumadhura Group to foray into commercial real estate
August 23, 2018

Sumadhura Group to foray into commercial real estate23rd Aug 2018 Bangalore-based real estate developer Sumadhura Group, has recently announced its plan to enter into the commercial real estate segment, with a project that would offer 1 million sq ft of grade A+ office space in Whitefield. With over 30 residential projects, the group already has a strong presence in Bangalore and Hyderabad. The current portfolio of the group includes 5 million sq ft of projects under construction and of 8.2 million sq ft of space under planning stage.

Bangalore civic body razes 400 houses in Bellandur
August 20, 2018

The Bruhat Bengaluru Mahanagara Palike (BBMP) demolished around 400 unauthorised houses, also identified as encroachments, situated at Kariyammana Agrahara near Bellandur. According to the residents, the authority has not issued a prior notice regarding the demolition drive. Some of the residents in the area had been staying there for around eight years and the demolition came as a sudden surprise. Several temporary constructions were brought to ground, leaving as many as 1500 people homeless. The residents of these areas hailed from Assam, Uttar Pradesh and West Bengal and did allied jobs such as house maids, drivers, waste pickers and security…

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