Latest Property News on 'Bangalore'

Bangalore to Welcome Mega Townships Soon

Bangalore is to see a large investment worth Rs 25,000 crore for the development of 11 integrated townships for IT, BT, and ITes sectors.

Stepping up efforts to take IT and Karnataka real estate on high, the state government has given a nod to 11 local, national, and international developers to set up mega townships in the city.

The state high level committee has recently approved 59 construction projects worth over Rs 60,000 crore. The committee has also agreed to IT related real estate projects, each involving an investment of around Rs 2,000-3,000 crore. The projects will come up at Sarajpur Road, Whitefield, Magadi, and Bidadi. Read More »

Bangalore Has the Most Expensive Hotel Rooms

Exorbitant hotel room rates in Bangalore have forced leisure as well as business travelers to break their bank. No branded hotel in Bangalore is charging less than $350-500 for a night stay. With the prevailing scenario, the city becomes one of the most expensive places in the world for those looking for a hotel room.

Supply constraint is believed to be the major factor responsible for such a situation. Indeed, many rooms in Bangalore are booked till February 2008, say the hoteliers. With Bangalore fast emerging as a business hub, demand for hotel rooms is believed to be outstripping the supply. To save on money, travelers are looking forward to rooms in unbranded category such as serviced apartments and standalone boutique. Read More »

Real Estate Firm REBI to Get Bigger

Bangalore based Real Estate Bank International (REBI), is planning its expansion both at domestic as well as international level with an investment of Rs 250 million.

REBI already enjoys a strong presence in Karnataka, Kerala, and Tamil Nadu and would take up the route to countries like Sri Lanka, US, UAE, Singapore, Malaysia, and Australia. 

The company plans 3,000 franchisees all over India in the next three years. It offers single window services for customers in the Real Estate Sector. The services include brokerage, financial, database, and relocation services. Read More »

DLF Bids for Bangalore Township Worth $10-20 Billion

Real estate giant DLF is soon to bag a residential Township project in Bangalore which will involve an investment of $10-12 billion. The project will come over a large area of 9,000 acres on the outskirts of the city.

DLF has emerged as the only bidder for the project, informs an industry source. However, the company refuses to comment on any aspect of the bid as the bidding is still in the process. Read More »

17mn sq ft Commercial Space Makes Way for Bangalore

Commercial property in Bangalore is zooming away in the wake of high growth, with supply likely to cross a mark of 17.4 million sq ft. It will include three million sq ft. supply spillover from 2006.

Of the total supply of office space earmarked for the year 2007, around 14.1 million sq ft. of space is likely to be for IT/ITes sector, with the areas located in suburban and central locations. Read More »

High Demand for Small Premium Apartments in Bangalore

Bangalore residential real estate cannot strike equilibrium between soaring demand and less supply of premium apartments in central locations such as Richmond Town, off MG Road, and Cunningham Road. Here, an increase in number of independent bungalows is paving way for small premium apartments.

Rentals in Bangalore are likely to fall in the long term in case the trend continues, predicts Cushman and Wakefield in its data giving a snapshot on the city’s residential market. Read More »

Ajmera to Tap Bangalore Real Estate

Real estate major Ajmera Group is planning to carve out a substantial niche for itself in fast flourishing Bangalore real estate. In a bid to tap the same, the company will invest around Rs 300 crore to develop a residential project in the garden city over the next two years.

The Ajmera Group stepped into South real estate in early 2006 with the development of Ajmera Green Acres in Bangalore, a 5, 00,000 square foot construction which came in Bannerghatta district. The group has developed 1, 70, 00,000 square feet of residential space across the country. Read More »

B’lore May See Property Price Correction

Properties in prime residential market in Bangalore are likely to undergo price correction. Growing imbalance between demand and supply in the city has given a strong jerk to the residential property prices over the past one year. This is now to see a marginal fall.

Demand for premium residential property in renowned areas including Raymond Town, Benson Town, Koramangala, Jayanagar, off MG Road, Cunningham Road, among others may fall as small premium apartment complexes seem to come up at place of the independent bungalows. Read More »

BDA to Construct 35,000 Flats on Encroached Land

The Bangalore Development Authority (BDA) will soon come up with 20,000 Economically Weaker Section (EWS) and 15,000 Middle Income Group (MIG) flats on encroached land in the city.

The authority will construct these flats on an area of 500 acres of plot which will be headed over to it by the State Government. Read More »

A Mega Retail Event in Bangalore

South India’s first-of-its kind Mega Retail event ‘The Shop’ is held in the country’s IT hub, Bangalore. The two cum conference cum exhibition is the third of the series of regional retail forum which winds up today.

The event aims in shaping up the Indian retail sector that continues to pioneer and set standards.  Also, the meet gives an opportunity to all retail majors to come together under one roof and builds fellowship across industries, says Reliance Retail Lifestyle president and CEO Bijou Kurien, who is also the conference chairman. Read More »