Century Real Estate Holdings Pvt. Ltd bags multiple awards
February 20, 2019

Bangalore-based developer, Century Real Estate Holdings Pvt. Ltd (CREH), has bagged multiple awards at several award ceremonies. Among the most notable ones are ‘Sustainable project of the year’ award for Century Greens at ET Now Real Estate awards 2019, ‘Residential project of the year 2018’ for Century Infiniti at Construction Week India awards 2018, ‘Most admired upcoming project of the year’ award for Century Downtown at DNA presents Real Estate and Infrastructure Round Table and Awards.

Prime office rentals may spike by 6.6 percent in Bangalore this year: Report
February 14, 2019

According to a global real estate consulting, Knight Frank India, Bangalore and New Delhi’s office market has been ranked third and fourth across the globe in terms of prime office space rentals. Bangalore is expected to witness a surge of 6.6 percent in office rental values by 2019-end as compared to 2018 while New Delhi is expected to observe a 6.5 percent increase in prime office rental values. The report further added that robust demand from the IT/ITeS and start-up sectors along with a dearth of quality office spaces in top cities has led to an increase in rentals. In…

SOBHA Ltd recognised as one of the top 50 brands in Bangalore
February 14, 2019

India’s most admired and trusted real estate brand, SOBHA Limited has recently been recognised as one of the top 50 brands in Bangalore under the category 'Large enterprises' by Paul Writer. The award ceremony was held in Bangalore during the fourth edition of the Bangalore Brand Summit and Hot Brands 2019, and was marked by the presence of eminent industry experts. The top 50 brands were selected on the basis of popular voting, followed by a diligent evaluation by the jury.

Adarsh Group launches three housing projects
February 13, 2019

Bangalore-based developer, Adarsh Group has launched three new housing projects - Adarsh Tranqville, Adarsh Wisteria and Adarsh Pinecourt in North Bangalore. The projects will be situated off Hennur Main Road and will together span across 22 acres. While Adarsh Tranqville and Adarsh Wisteria will constitute 106 and 24 villas, respectively in 3BHK and 4BHK configurations, Adarsh Pinecourt will comprise of 201 apartments in 2BHK, 2.5BHK and 3BHK configurations.

Infrastructure projects worth over Rs 8,000 crore planned for Bangalore
February 13, 2019

Giving a major thrust to connectivity in Bangalore, Karnataka Chief Minister, HD Kumaraswamy, has proposed a Rs 195 crore underpass at Goraguntepalya Junction connecting Tumkur Road and Outer Ring Road (ORR). Over the years, the Bangalore Development Authority (BDA) has shown interest in building a number of flyovers and underpasses to bypass Tumkur Road. The proposed connectivity project was first allocated to BDA. However, the civic body had asked the State cabinet to provide the required funds or allocate the project to Bruhat Bengaluru Mahanagara Palike (BBMP). Reportedly, huge parcels of land are required from the Air Force to implement…

SOBHA conferred with two BAM awards 2019
February 12, 2019

One of the most admired and trusted real estate brands of India, SOBHA Limited has recently been conferred with the ‘Best CSR activity of the year award’ at Builders, Architects, and Building Materials (BAM) Awards 2019. Besides this, SOBHA Dream Acres, a unique residential development of the company, has been conferred with ‘Best Affordable Housing Project of the year’ award during the same award ceremony, held in Delhi recently.   The Chief guests at the ceremony included Nina Vaskunlahti, Ambassador of Finland and Rahul Shewale, Member of Parliament, Government of India.

Godrej Properties launches Godrej Aqua
February 11, 2019

One of the leading real estate developers, Godrej Properties Limited has recently launched a new project in Bangalore by the name of Godrej Aqua, comprising of water secure homes. Having a saleable area of approximately 72,918 sq m, Godrej Aqua comprises of 2 and 3 BHK apartments with carpet area ranging in between 69 sq m to 116 sq m. Strategically located at Bellary Road, Godrej Aqua enjoys proximity to Hebbal, Yelahanka, and Devanahalli with smooth connectivity to the Outer Ring Road, Bangalore International Airport, and the Central Business District (CBD).  Post the launch of the new project, Godrej Properties…

Bangalore Metro to reach Whitefield by 2021
February 9, 2019

The entire Phase 2 of the Bangalore Metro Rail Corporation Limited (BMRCL), comprising of a wide network of 128 km will become operational by 2024. The deadline for the same has already been pushed from 2020 to 2023. Despite the missed deadlines for the entire project, majority of the corridors in Phase 2 are likely to be completed by 2021. While the extension of the network on Kanakapura Road (Yelachenahalli to Anjanapura) and Mysore Road (Mysore Road to Kengeri) is set to become functional from 2020 onwards, the other lines will only be operational by 2021. These include metro lines…

SOBHA Limited announces unaudited financial results
February 7, 2019

SOBHA Limited has recently announced its unaudited financial results for the quarter ended December 31, 2018. The total revenue of the company, stood at Rs 8.08 billion on a consolidated basis, reporting an upsurge of 19 percent as compared to the figures of the previous quarter. The company, backed by world-class products, multi-city operations and distinctive integration model, has reportedly delivered 7.78 million sq ft of developable area during the nine months of the financial year 2018-19.  

Bangalore: Begur Road widening project set to become a reality
February 4, 2019

The widening of the Begur Road in Bangalore, which connects Bannerghatta Road to Electronics City is set to become a reality. The Bruhat Bengaluru Mahanagara Palike (BBMP) has issued an official notification in this regard for procuring land for the project. The civic body has proposed to increase the breadth of the road from the existing 30 ft to 80 ft. The widening of the 3.6 km-long road will take place in two phases, with phase-1 anticipated to involve a cost of Rs 42 crore. A total of 750 properties needs to be procured for the project. The Bangalore Development…

Namma Metro Phase 2 to be extended till Challaghatta
January 31, 2019

At an estimated budget of Rs 140 crore, the Karnataka government has approved the construction of a new metro station and multi-level parking at Challaghatta as part of Phase 2 of the Namma Metro project. For the speedy development of the station, the State government would grant Rs 70 crore for the project. The remaining funds will be financed by Bangalore Metro Rail Corporation Limited (BMRCL). Officials have shared that the Bangalore Metro Phase 2 will be extended from Kengeri till Challaghatta, covering a distance of 1.8 km. The depot for the extended line would be established at Challaghatta. The…

Karnataka Govt approves metro line to KR Puram
January 30, 2019

The Karnataka government has approved the implementation of the Metro’s Outer Ring Road (ORR) line, connecting Central Silk Board Junction to KR Puram in Bangalore. The approval received includes seeking funds from the Centre, land acquisition and shifting of utilities.  The cost of the project, which was earlier estimated at Rs 4,202 crore, has now been revised to Rs 5,994.90 crore. An escalation in the estimated land cost from Rs 173.33 crore to Rs 559.10 crore, owing to an increased requirement of private lands and high guidance value, is being considered as the prime reason for the increase in the…

New regulation to slow down property registration process in Bangalore
January 18, 2019

The property registration process in Bangalore is likely to be hit by a new rule introduced by the city’s Stamps and Registration Department in 2019. The move will slow down the registration process of flats and apartments that are not a part of the guidance value book. However, apartment blocks measuring up to 5,000 sq ft will remain unaffected. Under the new regulation, the registration officials must ‘identify’ the project and make it a part of the guidance value book only if the builder possesses the sanctioned building plans and commencement certificate. The move will prompt builders to adhere to…

Bangalore: A scheme to build houses in a few days to launch on Jan 26
January 16, 2019

Post the launch of Global Housing Challenge by the Housing Ministry, homebuyers looking for an independent bungalow can get their customised units within a few days in Bangalore. The scheme will be launched in the city on January 26, 2019, in which interested buyers can select a design for their independent bungalow online, and the construction can be completed in a few days. SJ Vijay, Director, Commission, has shared that the entire project has been designed to deliver one house a day. The process of delivering the residential unit will be similar to buying a car. You choose the model…

Bangalore International Airport to get a makeover worth Rs 13,000 crore
January 12, 2019

The Kempegowda international airport is set to receive a major facelift including a new terminal, access roads, second runway, internal road infrastructure, and a multi-modal transport hub at an estimated cost of Rs 13,000 crore. According to Bangalore International Airport Infrastructure Limited (BIAL) Chief Executive Officer, Hari Marar, the cost of constructing the terminal itself is Rs 3,500 crore. Phase-2 of the project will be funded in a 20:80 ratio (20 percent equity and 80 percent debt). Marar added that the entire share of equity will come through internal approvals from BIAL while the remaining share will be raised through…

Karnataka’s first villa project to secure CRISIL’s Seven Star grading
January 11, 2019

Karnataka's first villa project to secure CRISIL's Seven Star gradingBangalore 6th January 2019 Zonasha Paradiso, an exclusive townhouse project by Zonasha, secured a Seven Star grading from the CRISIL Real Estate Star Grading (CREST). Zonasha Paradiso is the first villa project in Karnataka to bag the coveted Seven Star grading from CRISIL. The project is a perfect blend of modern amenities in contemporary style, with tastefully designed villas and meticulously planned interiors and exteriors.The CREST grading are assigned on an eight point scale where the highest grading given to any project is seven star.   

Bangalore expedites construction of suburban rail network
January 2, 2019

After incessant delays, Bangalore has finally given a thrust to the suburban rail network as Chief Minister, HD Kumaraswamy, has recently directed the Chief Secretary to get all the obligatory approvals for the project. Engineering consultancy company, RITES, has drafted and sent a proposal to the government in which it has estimated 9.28 lakh as the daily ridership of suburban trains in 2025 which may go up to 16.83 lakh by 2041. It further stated that the suburban rail will bring an end to the city’s long traffic snarls and has suggested direct connectivity to the Kempegowda International Airport. As…

Karnataka RERA revises registration deadline
December 28, 2018

The Karnataka Real Estate Regulatory Authority (Karnataka RERA) has extended the deadline for developers to register their ongoing real estate projects under the Real Estate (Regulation and Development) Act (RERA). As per the new circular issued on the official RERA website, the authority has allowed builders to register their projects till December 31, 2018. Moreover, the regulatory authority has granted an extension for submitting a quarterly report of the registered projects till December-end. The Karnataka government was one of the first States to implement RERA norms. Till date, the authority has approved over 1,600 ongoing projects across the State. It…