BENGALURU PROJECT
BCD Group bags 1.5 mn sft of residential development in Bengaluru
BCD Group secured a 1.5 million sqft residential project in Bengaluru from Ramsons Trendsquares for Rs 660 crores, their first collaboration. The mixed-use development spans 6.5 acres with 600 units in phase 1 and 5 million sqft in phase 2. With the first phase sold out, BCD aims to begin phase 2 soon. The project capitalizes on Bengaluru's premium real estate market, especially in Sarjapur's thriving tech hub.
Puravankara acquires a 7-acre land parcel in Hebbagodi, Bengaluru, with potential GDV of Rs. 900 Crore
Real estate developer Puravankara has acquired a 7.26-acre land parcel in Hebbagodi, Bengaluru, for a luxury project, adding a potential GDV of over Rs 900 crore. With recent acquisitions in Mumbai, the group's total GDV is now Rs 1,550 crore. Strategically located near Electronics City, Hebbagodi is ideal for residential developments, catering to IT professionals. Puravankara plans to acquire 20 million sq ft of land by year-end for growth in Mumbai, Bangalore, and Delhi-NCR.
Godrej Properties sells more than 2,000 flats in Bengaluru for over Rs 3,150 crore
With the successful launch of this project, Godrej Properties said the company has surpassed its full-year FY24 sales in South India within the first quarter.
Bengaluru Circular Rail Link project work starts. Key updates, routes and other details
The 287-km Bengaluru Circular Rail Link aims to reduce congestion and enhance connectivity around the city's outskirts with a Rs 23,000 crore budget. The state government will cover land acquisition costs, while the Railways handle construction. The project, crucial for complementing the Bengaluru Suburban Rail Project, is progressing with the detailed project report for Devanahalli to Doddaballapur nearly complete.
Godrej Properties buys 7-acre land in Bengaluru to build housing project worth Rs 1,200 cr
Godrej Properties has acquired a 7-acre land in Thanisandra, North Bengaluru, for developing a luxury housing project. The project is expected to yield around 9 lakh square feet of residential space, with an estimated revenue of Rs 1,200 crore. In a separate development, the company will also develop an 11-acre land parcel in Hinjewadi, Pune, focusing on group housing and high street retail, with a projected revenue of approximately Rs 1,800 crore.
How Bengaluru's IT professionals could benefit from proposed Hosur airport
Proposed Hosur International Airport gains support for boosting regional development and creating job opportunities along the Tamil Nadu-Karnataka border. The proposed international airport in Hosur aims to benefit Bengaluru's IT corridor and Electronics City, alleviating the long commute to Kempegowda International Airport. Tamil Nadu Chief Minister M.K. Stalin announced the airport will handle 30 million passengers annually, boosting the socio-economic development of Hosur and neighboring districts.
- Go To Page 1
Concorde acquires 1.6 acre land in Bengaluru
Concorde, a real estate developer based in Bengaluru, has purchased a 1.6-acre land parcel situated on Sarjapur Road in the city. This joint development project is slated to become a high-end residential complex with an estimated gross development value (GDV) of Rs 200 crore. Earlier in March, Concorde also acquired a 4.5-acre plot in Thanisandra, Bengaluru.
Apple set to lease office tower from Embassy Group in Bengaluru
Apple Inc leased an office tower in Bangalore with record rent. The site was previously a hotel near Bangalore Golf Club. Manufacturing operations expanded with Foxconn Technology Group and Tata Electronics, including a local supplier network and large facilities.
Karnataka Industries Minister Patil blames Bommai govt for losing Ather EV project to Maharashtra
Bellad emphasizes the necessity of a leadership change to restore Karnataka's reputation as an investment-friendly state, calling for a shift towards concrete actions and results to attract investments.
Sembcorp files suit against Siemens Gamesa over unsettled arbitration
Sembcorp's India unit has filed a lawsuit in a Bengaluru court to prevent Siemens Gamesa from selling its Indian business assets before settling an ongoing arbitration. The arbitration pertains to alleged default in executing a contract. Sembcorp has sought an injunction over the sale, which includes Siemens Gamesa's shareholding in India.
Japan sanctions Bengaluru tech company over Russian war 'support'
Japan has sanctioned Bengaluru-based Si2 Microsystems Pvt Ltd, an Indian tech firm, for allegedly supporting Russia's war efforts. This move, part of broader sanctions including firms from China, the UAE, and Central Asia, marks Japan's first targeting of foreign companies over Ukraine-related issues. The sanctions may strain the growing strategic partnership between Japan and India. Si2 Microsystems, involved in various high-tech projects, including government space initiatives, is now under scrutiny. Japan's tougher stance against Russia, influenced by Western pressures, contrasts with its previous policies, recalling sanctions imposed on India after the 1998 nuclear tests.
Prestige Estates board okays proposals to raise Rs 5,000 crore
The Bengaluru-based company may either consider creating a real estate investment trust - which could be the first hotel REIT in India - or pursue an initial public offering to monetise the hospitality business. In April, ET was the first to report Prestige Estates' plan to monetise the business. "The firm is also currently evaluating to monetise its hospitality portfolio, which will lead to some value unlocking," Zaid Sadiq, executive director of hospitality at the Prestige Group had said. He could not be reached for comment.
After fuel prices, Bengaluru to hike water tariffs? Karnataka Dy CM DK Shivakumar weighs in
Karnataka Deputy CM DK Shivakumar addressed concerns over potential water tariff increases in Bengaluru, noting that rates have not been adjusted in a decade despite financial losses. He stressed the necessity for new projects and highlighted difficulties in obtaining financing from banks for the Bangalore Water Supply and Sewerage Board (BWSSB).
Kumaraswamy discusses Bengaluru-Sathy railway line with Ashwini Vaishnaw
Union Steel & Heavy Industries Minister HD Kumaraswamy met Railway Minister Ashwini Vaishnaw to discuss the implementation of a 260-km railway line between Bengaluru and Sathyamangalam (Sathy) in Tamil Nadu. The project was originally sanctioned in 1996 during HD Deve Gowda's tenure as Prime Minister. The proposed line would branch off at Hejjala on the Mysuru-Bengaluru sector, passing through several key locations including Chamarajanagar and potentially extending further to Sathyamangalam.
Bengaluru's Freedom Park multi-level parking: Check launch date and charges as parking to be banned on nearby roads
Motorists in Gandhinagar and Bangalore's CBD will soon find parking relief with the opening of the multi-level car park (MLCP) at Freedom Park on Thursday. Accommodating 600 four-wheelers and 750 two-wheelers, the facility, costing Rs 80 crore, will be managed by Princeroyal Parking Solution. Parking fees start at Rs 15 for bikes and Rs 25 for cars per hour.
DGCA to lay roadmap for air taxis soon; project to take off from Delhi-NCR, Mumbai and Bengaluru
Following the conclusion of the country's largest electoral activity, the Aviation Ministry has initiated efforts on a new project: urban air mobility. Reports suggest that India's aviation regulator, the Directorate General of Civil Aviation (DGCA), is rumored to have established several technical committees to develop a roadmap for the introduction of air taxis in the country. The project is expected to commence in major urban centers such as Delhi-NCR, Mumbai, and Bengaluru by 2026, with plans to expand to other cities like Chennai and Hyderabad thereafter.
Bengaluru's Incluzza helps Google bring accessible gaming closer home
Project Gameface, is an open source, hands-free, on-device, AI-powered ‘mouse’ developed by Google that allows phones, computers to be controlled with facial expressions.
Max Group arm Antara ties up with Hyderabad realtor for senior living project
Antara has two projects - one in Dehradun and one in Noida - and it recently added one in Gurugram after a gap of three years.
Shriram Properties inks JV for 4-acre housing project; eyes over Rs 250 cr revenue
Shriram Properties Ltd has signed a Joint Development Agreement with a landowner to develop a 4-acre housing project in Bengaluru, with an estimated revenue potential of over Rs 250 crore. The project will consist of 270 apartments with a saleable area of 3.8 lakh square feet. The project is expected to be launched in the first half of the current financial year.
Narayana Health acquires 1.2 acres in Bengaluru for Rs 169 crore
Narayana Health acquires 1.2 acres of Bengaluru land for Rs 169 crore, as per Propstack data. The property, in Begur Hobli, south Bengaluru, was sold by Venture Projects Bangalore Pvt Ltd. Founded by heart surgeon Devi Shetty, Narayana Health operates 18 hospitals in India and abroad. Bengaluru sees rising luxury property transactions amid growing wealth.
ArisUnitern enters into a development management agreement with Essem 18’s Real Estate Portfolio
ArisUnitern, which is one of the pioneers in development management model, has secured eight projects in the last one-year, recorded sales exceeding Rs 300 crore within the last six months and raised over 300 crores across 7 deals and supplied materials worth Rs. 150 Crores to these clients. This reflects the mushrooming of the demand for specialised service providers in the real estate industry.
Macrotech Developers to invest Rs 3,500-4,000 cr this fiscal to acquire land parcels
Realty firm Macrotech Developers Ltd plans to invest Rs 3,500-4,000 crore this fiscal to acquire land for housing projects and capitalize on the increasing demand for residential properties. The company aims for a 60:40 mix of owned land and joint development agreements, with a target of 10,000 apartment deliveries this year.
Not in 'rat race' to be top builder in terms of sale bookings, says Macrotech Developers MD
When asked about the reason for setting a conservative sale bookings guidance considering that few players posted more than Rs 20,000 crore pre-sales in FY24 itself, Lodha told PTI, "We are not in any rat race and neither our shareholders are bothered about any such rat race." "We want to achieve consistent growth. Consistent growth and predictable growth with low leverage is very important and that is our business model," he said.
Arvind SmartSpaces reports highest-ever sales at Rs 1,107 crore in FY24
Arvind SmartSpaces reported its highest-ever sales at Rs 1,107 crore in 2023-24, up 38% from the previous year. The company's net profit increased 62% to Rs 41.6 crore, while revenue from operations grew 33% to Rs 341 crore. The company acquired new projects with a topline potential of Rs 4,150 crore, and is set to deepen its presence in Gujarat, Bengaluru, and Maharashtra. Demand optimism in residential markets is expected to continue in the medium term.
HDFC Capital exits Total Environment project in Bengaluru
HDFC Capital, a subsidiary of HDFC Bank and the real estate private equity arm of HDFC Group, has exited a Bengaluru project by Total Environment, yielding a return close to ₹300 crore. Initially investing ₹229 crore in the Whitefield-based Pursuit of a Radical Rhapsody project, HDFC Capital supported the development of one million square feet of residential apartments.
SPL acquires 4 acre land parcel near Electronic City, Bengaluru
Shriram Properties Limited (SPL) has acquired a 4 acre land parcel in Chandapura, near Electronic City in Bengaluru, to develop residential communities. The project, expected to generate revenue over Rs 259 crore, will cover 4 lakh sq ft and include 350 apartments. SPL plans to launch the project during FY25
Prestige Estate Projects set to double hospitality portfolio with Rs 1,700 crore investment
Prestige Estate Projects plans to double its hospitality portfolio over the next three to four years, investing Rs1700 crore. The company currently manages 1849 keys of hospitality assets across India, with the potential to generate revenue of Rs 1800 crore. The company is exploring new markets and expanding its portfolio in existing ones. The hospitality assets are generating an average occupancy rate of 70%, and the company is evaluating monetizing the portfolio to unlock value and alleviate cash flow stress.
Macrotech Developers to invest Rs 5,000 crore in FY25 on construction of realty projects: Abhishek Lodha
Macrotech Developers, led by Abhishek Lodha, aims to invest over Rs 5,000 crore this fiscal year. The company plans to deliver 10,000+ units, expand to Bengaluru, and target sales worth Rs 17,500 crore.
Piramal Enterprises invests over Rs 500 cr in Puravankara Projects
The investment encompasses a range of projects, spanning from commercial properties to residential ventures, reflecting a strategic collaboration aimed at bolstering real estate endeavours across multiple regions in India.
Load More
