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Latest RE News : Bangalore & other major Cities of Karnataka

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  • Re : Latest RE News : Bangalore & other major Cities of Karnataka

    Karnataka to soon adopt new model tenancy act

    The state government had a role in fixing the rent but with the new Act the state government now aims to propose that the rent should be fixed by both the parties - owner and tenant.
    BENGALURU: Karnataka is contemplating to adopt the Union government's Model Tenancy Act in order to end the continuous tenant-owner disputes besides revitalising the rental housing sector, state Revenue Minister R. Ashoka said here on Thursday.

    After reviewing revenue department schemes here, Ashoka told reporters that the state government wants to simplify the existing Tenancy Act. "This is still at a proposal stage and we are also expecting feedback from the public before officially introducing this in the state," he said.

    He added that earlier, the state government had a role in fixing the rent but with the new Act the state government now aims to propose that the rent should be fixed by both the parties - owner and tenant. "After reaching an agreement, they need to finalise it legally and upload it onto the government's portal," he explained.

    The minister said that most house owners, especially in Bengaluru, ask tenants to cough up 10 months of rent as advance. "If the proposed new tenancy law is adopted, owners cannot collect more than two months' rent as advance," he said.

    According to the minister, the Act gives supremacy to the rental agreement and stipulates the formation of a Rent Authority to address disputes.

    He added that in the event of any dispute, the concerned officials will resolve it within 60 days.

    "We are also mulling that the disputes should be settled within 60 days and even if anyone plans to postpone the hearing, there won't be more than three hearings," Ashoka claimed.

    He observed that wary of disputes, many owners keep their houses vacant without renting them. "At present at least two to three lakh houses are vacant in Bengaluru alone. We hope that once this Act is implemented, owners will get their tenants while the rents may also come down," the minister explained.











    Model Tenancy Act in Karnataka: Karnataka to soon adopt new model tenancy act, Real Estate News, ET RealEstate (indiatimes.com)
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    • Re : Latest RE News : Bangalore & other major Cities of Karnataka

      FPCE writes to Karnataka government to make RERA more effective

      Forum for Peoples' Collective Efforts (FPCE), an umbrella body of homebuyers, on Friday wrote a letter to Principle Secretary, Housing Department, Government of Karnataka on completion of four years of enforcement of RERA Act in the state. RERA in Karnataka was notified on July 10, 2017.
      NEW DELHI: Homebuyers' body FPCE has written to the Karnataka government pointing out several shortcomings of the state's real estate regulatory body and urged that steps should be taken to make the realty law RERA more effective for protecting the interest of flat owners.

      The Real Estate (Regulation and Development) Act, called as RERA, was passed by Parliament in March 2016 to regulate and promote realty in an efficient manner and protect the interest of homebuyers. All provisions of the law came into force from May 2017.

      Forum for Peoples' Collective Efforts (FPCE), an umbrella body of homebuyers, on Friday wrote a letter to Principle Secretary, Housing Department, Government of Karnataka on completion of four years of enforcement of RERA Act in the state. RERA in Karnataka was notified on July 10, 2017.

      Based on the experience of homebuyers since 2017, FPCE General Secretary M S Shankar said in the letter that "the failures and shortcomings of RERA have outweighed benefits derived from it by a wide margin."

      "Authorities have failed so far, from their prime objectives/ responsibilities to enforce RERA as per its true intent and to protect the interest of homebuyers," he said.

      Shankar pointed out lack of transparency on the project-wise details of registered projects as well as those projects whose registrations have been rejected, withdrawn or expired on the Karnataka RERA webpage.

      "Non availability of such data amounts to providing opportunity by concerned officials to unscrupulous promoters/builders to lead the RE (real estate) industry back to pre RERA status by luring the buyers to invest on the projects that were rejected, revoked or withdrawn and the registered projects that were expired and unregistered," he said.

      Similarly, Shankar said, detailed data related to complaints and judgements are not available for the public.

      "We can only hope that Government of Karnataka will now wake up from its deep slumber and take appropriate steps to ensure that RERA becomes more effective and it meets the expectations of homebuyers by immediately reviewing the functioning of Karnataka RERA and initiating corrective actions as deem fit," he said.










      karnataka rera: FPCE writes to Karnataka government to make RERA more effective, Real Estate News, ET RealEstate (indiatimes.com)
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      • Re : Latest RE News : Bangalore & other major Cities of Karnataka

        Bengaluru: Buildings with rainwater harvesting may get 5% discount on water bills

        The rebate on water bill, if offered, will be on the lines of the concession being extended by BBMP on property tax paid before the due date, and is expected to encourage more property owners to install RWH systems.
        BENGALURU: The Bangalore Water Supply and Sewerage Board (BWSSB) is contemplating taking the reward route to popularise implementation of rainwater harvesting: It may give 5 per cent discount on monthly water bills to properties with RWH facilities.

        The idea was brainstormed on Saturday during a virtual session titled ‘Catch the Rain, Bengaluru’ organised by National Water Mission, BWSSB and Biome Environmental. The rebate on water bill, if offered, will be on the lines of the concession being extended by BBMP on property tax paid before the due date, and is expected to encourage more property owners to install RWH systems.

        National Water Mission director G Asok Kumar mooted the idea and BWSSB chairman N Jayaram responded, stating the proposal will be taken up for discussion at the next board meeting.

        BWSSB till now provides an appreciation certificate to those implementing RWH. Jayaram said, “BBMP provides 5% rebate on property tax if it is paid early in the financial year and in the same way, we could also see what can be done to promote RWH.”

        While Bengaluru’s dependence on Cauvery river and other sources for water has resulted in losses for BWSSB, Jayaram said RWH can really help the city. Giving an example, he said it takes Rs 95 to supply 1,000 litres of Cauvery water to Bengaluru, while only Rs seven is collected from citizens for the same. He added exponential growth of the city will pose a challenge if RWH is not implemented with citizens’ active participation.

        According to Jayaram, Cauvery water is brought to the city from 90km away. About 1,440MLD is being supplied to Bengaluru and additional ground water of 600 MLD is drawn.

        BM Somashekar, chief engineer of the board, said despite the number of rainy days having come down in the city, Bengaluru continues to receive 850mm rainfall annually. But very little is being saved and reused. The board has brought in many awareness programmes to promote RWH, including taking citizens and students to Sir M Visvesvaraya Rain Water Harvesting Theme Park.

        According to BWSSB, Bengaluru spans about 800sqkm, but BWSSB jurisdiction is 570sqkm as of now, serving a population of 80.5 lakh, while others continue to depend on water tankers, especially those living in apartments. Average per capita consumption of water in Bengaluru is about 65 lakh litres a day.

        Somashekar said BWSSB has about 8,000 active borewells in the city, but many are drying up during summer. He added they have about 27 RWH models for citizens, which can not only help them reuse water but recharge borewells too. Kumar said training plumbers can make a big difference.

        Some residents who have implemented RWH shared their experiences, saying how they don’t have to rely on water tankers and BWSSB. Ashok Mrityunjaya, a resident of Aditi Elite apartment in Bellandur, said the complex did not have a BWSSB connection and was dependent on tankers. But after implementing RWH and digging borewells to recharge water, they have been able to sustain for almost one year.














        Bengaluru: Buildings with rainwater harvesting may get 5% discount on water bills, Real Estate News, ET RealEstate (indiatimes.com)
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        • Re : Latest RE News : Bangalore & other major Cities of Karnataka

          Broke Bengaluru development body tweaks rules to sell its unsold flats

          Until now, as per norms, only one member from each family was permitted to buy a flat from the BDA. As per the new rules, BDA is allowing more than one member per family to buy flats, even in the same apartment complexes.
          BENGALURU: Even as the Bangalore Development Authority (BDA) is unable to form new layouts, it is also unable to find takers for the flats already constructed. Currently, about 1,300 flats are yet to be sold. To resolve this, the BDA has decided to tweak its rules to attract buyers.

          Until now, as per norms, only one member from each family was permitted to buy a flat from the BDA. Now, as per the new rules, BDA is allowing more than one member per family to buy flats, even in the same apartment complexes. In case an organisation is interested in buying flats, BDA will sell its flats at a discount of 10 per cent to those buying flats in bulk.

          Earlier, flats were sold among applicants by drawing lots. This drew some criticism as buyers could not buy a flat of their liking. Now, the authority is planning to allow buyers to book flats online. At the moment, 502 flats are available for sale in Kanminike (phase two). The 2 BHKs in this area are sold for Rs 23.75 lakh. Another 265 flats are available in Kanminike (phase three). Here, 2 BHKs cost Rs 28.5 lakh, and 3 BHK flats (92) are available for sale at Rs 40 lakh each. Another 103 flats are available at Kommaghatta (phase one) where each 2 BHK flat costs Rs 23.75 lakh. In phase two, 250 2 BHK flats, costing Rs 30.4 lakh, are available.

          In Doddabanahalli (phase 1), 28 2 BHK apartments are available at Rs 25 lakh each. Another 40 2-BHK flats costing Rs 44 lakh each, are available in Valagerahalli (phase six). In Malayalam (phase two), 42 2-BHKs costing Rs 42 lakh each are available.

          Earlier, the BDA had decided not to construct new flats due to the low demand and focus on selling villas. However, the cash-strapped organisation is unable to go ahead with that project. SR Vishwanath, chairman, BDA, said the BDA was planning to make its flats attractive by adding features like gyms, parks, parking lots, etc.











          Broke Bengaluru development body tweaks rules to sell its unsold flats, Real Estate News, ET RealEstate (indiatimes.com)

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          • Re : Latest RE News : Bangalore & other major Cities of Karnataka

            WeWork lease out 17,000 sq ft space to 3M India in Bengaluru

            In April 2021, WeWork India had raised Rs 200 crore from investors, through a mix of debt and equity. File photo


            NEW DELHI: WeWork India said that the 3M India, an Indian subsidiary of global technology giant 3M, has leased 17,000 sq ft area of flexible workspace at its Prestige Central building in Bengaluru, for a two-year period.

            "In recent times we have seen an increased demand from all businesses, especially leading enterprises such as 3M who have recognised the inherent value offered by the flexible workspace model," said Santosh Martin, chief revenue officer, WeWork India.

            About 400 employees of 3M India will sit at its new headquarter.

            "This arrangement offers convenience and flexibility for our people, in a contemporary and safe environment," said Sandhya Ganapathy, head of Corporate Communications, Security and Real Estate, 3M India.

            In April 2021, WeWork India had raised Rs 200 crore from investors, through a mix of debt and equity.










            WeWork India: WeWork lease out 17,000 sq ft space to 3M India in Bengaluru, Real Estate News, ET RealEstate (indiatimes.com)
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            • Re : Latest RE News : Bangalore & other major Cities of Karnataka

              What bogs down BBMP’s lake rejuvenation plans?


              ByNaveen Menezes / Updated: Jul 16, 2021, 06:00 IST

              Apart from Kempambudhi lake restoration, BBMP has called for bidders to develop lakes such as Arekere, Hulimavu, Gangashetty, Horamavu and Vengaiah lakes
              Delay in release of payments by BBMP is being cited as a reason why contractors are not rushing to bid for the development work of at least 6 lakes in the city

              Not many contractors are evincing interest in participating in development and rejuvenation of at least six lakes in the City. The Bengaluru Mahanagara Palike has been issuing tenders again and again, but nobody is willing to go for it. This reluctance is being attributed to the delay in release of payments by the BBMP as these projects are funded by the civic agency. In contrast, contractors are quite keen on projects taken up under government grants as the payment is on time.

              In the last one year, the BBMP has been inviting bids from contractors almost every second month for developing the Kempambudhi lake at an estimated cost of nearly Rs 1 crore. It has got no response.

              Same is the case with regard to lakes such as Arekere, Hulimavu, Gangashetty in KR Puram, Horamavu and Vengaiah. Officials have been repeatedly floating fresh tenders only to find no bidders.

              Contractors say that they end up waiting for two to three years for the BBMP to release payments. “Since the cost of materials has gone up, it is not viable to participate in the tenders unless the payments are made on time,” a contractor said. The BBMP, he said, is not increasing the tender premium or tweaking conditions to encourage more bidders. “No manufacturer is willing to provide material on a credit basis. This is keeping many contractors away from participating in the bids.”

              Senior officials admitted that a few lakes have been receiving no response from the contractors. “It is not that no contractor is participating. We have already tendered out development of around 25 lakes,” the BBMP official said.

              Since the cost of materials has gone up, it is not viable to participate in the tenders unless the payments are made on time by the BBMP

              – A contractor

              “There was not much response for the tenders of Hulimavu and Arekere lake as procurement of large pipes constitutes 90 per cent of the project cost. The labour cost is only 10 per cent. The contractors feel that it is not worth waiting for 2-3 years for the payment when they have to invest lot of money towards purchasing the pipes,” he said. The lack of response for Kempambudhi Lake, he said, also pertains to cost of materials. It’s learnt that the development of lakes funded by Chief Minister’s Nava Nagarothana scheme and Shubra Bengaluru scheme has received good response from the contractors.

              V Ramprasad, convener of Friends of Lakes, said that the BBMP should stop calling tenders if they cannot ensure that payments are made on time. “If the contractor does not have the confidence of getting payments immediately after delivering the work, the quality of work suffers,” he said. The BBMP, he suggested, must create an escrow account so that all lakes works are not starved of funds. He urged officials to put a brake on projects that add no value or create an asset for the corporation.









              What bogs down BBMP’s lake rejuvenation plans? (indiatimes.com)
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              • Re : Latest RE News : Bangalore & other major Cities of Karnataka

                Bengaluru: Decade on, Namma Metro yet to bridge last-mile connectivity gap


                Christin Mathew Philip / TNN / Updated: Jul 18, 2021, 18:18 IST



                Passengers wait for a bus outside a Metro station. The number of feeder buses has reduced from 173 to 39E-rickshaws, shared autos

                BENGALURU: While the state government has allowed electric bike taxis in the city, commuters feel more transport options are needed to and from Metro stations to ensure better first and last-mile connectivity.

                Namma Metro has been operational since 2011 but its users have been complaining about the poor frequency of BMTC feeder services. The corporation used to run 173 Metro feeder buses before the pandemic; the number has dipped to 39. “Most of these services are running under loss, so it is difficult to increase the frequency. Demand has also reduced after Covid. If BMRCL provides Viability Gap Funding, we could operate more services,” said a senior BMTC official.

                BMRCL had earlier tied up with rental scooter companies like Bounce and Yulu at some stations, but only a few locations have the facility now. Several firms such as Loca Rides (cab sharing) and electric auto services like PepRide and HAIL App by Namma Auto have wound up operations.

                Metro Phase 1’s daily ridership was 5 lakh in February 2020. Following the pandemic and work-from-home concept, it has dropped to 1.2 lakh. A 2016 survey by World Resources Institute found that 70% of potential Bengaluru Metro users cited poor first-and last-mile connectivity as a reason for not using it. The ridership shortfall was attributed to a lack of comprehensive first-and last-mile solutions to connect homes and offices with Metro stations.

                Horamavu resident Aswathy S said: “There’s a shortage of bus services from Byappanahalli Metro Station to Horamavu and Ramamurthynagar. I’m not comfortable riding a two-wheeler with a stranger, so I don’t want to use bike taxi. Electric shared autos would have been helpful for many people.”

                A BMRCL official said: “We have provided bus bays at new Phase 2 stations and had tied up with firms like Bounce and Yulu. We are not in a position to provide VGF to BMTC since we have also incurred losses. BMTC is operating buses based on their traffic survey. We are open to working with different stakeholders to improve first-and last-mile connectivity.”

                Need more support from BMRCL, say companies

                Girish Nagpal, CEO & founder of Metroride, which operates electric autos, said: “We have deployed 40 e-autos at two stations: Konanakunte Cross and Yelachenahalli. Services will start at Indiranagar and Rajajinagar soon. We are charging a minimum fare of Rs 10. The response from Metro users has been good, but we need more support from BMRCL for pick-up and drop-off points and also for creating awareness among passengers.”

                A startup which used to provide last-mile connectivity said: “It was not viable to run the service, especially after the pandemic. But BMRCL neither provided a parking space or its ridership data, nor created awareness at Metro stations.”

                BMTC officials said there are no bus bays at most Metro stations. “We are planning to induct 90 non-AC midi electric feeder buses from next month,” said an official.
                With most stations not equipped with parking facilities, regular Metro users say BMRCL should encourage electric shared autos, electric midi buses and prepaid auto counters. Implementation of common mobility card will also help, they add.

                E-rickshaws, shared autos in Delhi, Chennai

                Other Metro operators offer better first-and last-mile connectivity. Delhi Metro Rail Corporation operates feeder buses and passengers can use the same card for both trains and buses. DMRC charts bus routes and synchronises them with Metro timings.

                Commuters can also use cycle rickshaws and e-rickshaws. The e-rickshaw facility can be availed at 29 stations at a fare of Rs 10 for the first 2km and Rs 5 for every additional km. DMRC is planning to induct 100 lowfloor AC e-buses from next month. Chennai Metro Rail Limited has roped in shared autos at a flat fare of Rs 10. Kochi Metro Rail Limited has invited tenders for 115 e-autos.











                Bengaluru: Decade on, Namma Metro yet to bridge last-mile connectivity gap | Bengaluru News - Times of India (indiatimes.com)
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                • Re : Latest RE News : Bangalore & other major Cities of Karnataka

                  Bengaluru: Buildings with rainwater harvesting may get 5% discount on water bills

                  The rebate on water bill, if offered, will be on the lines of the concession being extended by BBMP on property tax paid before the due date, and is expected to encourage more property owners to install RWH systems.
                  BENGALURU: The Bangalore Water Supply and Sewerage Board (BWSSB) is contemplating taking the reward route to popularise implementation of rainwater harvesting: It may give 5 per cent discount on monthly water bills to properties with RWH facilities.

                  The idea was brainstormed on Saturday during a virtual session titled ‘Catch the Rain, Bengaluru’ organised by National Water Mission, BWSSB and Biome Environmental. The rebate on water bill, if offered, will be on the lines of the concession being extended by BBMP on property tax paid before the due date, and is expected to encourage more property owners to install RWH systems.

                  National Water Mission director G Asok Kumar mooted the idea and BWSSB chairman N Jayaram responded, stating the proposal will be taken up for discussion at the next board meeting.

                  BWSSB till now provides an appreciation certificate to those implementing RWH. Jayaram said, “BBMP provides 5% rebate on property tax if it is paid early in the financial year and in the same way, we could also see what can be done to promote RWH.”

                  While Bengaluru’s dependence on Cauvery river and other sources for water has resulted in losses for BWSSB, Jayaram said RWH can really help the city. Giving an example, he said it takes Rs 95 to supply 1,000 litres of Cauvery water to Bengaluru, while only Rs seven is collected from citizens for the same. He added exponential growth of the city will pose a challenge if RWH is not implemented with citizens’ active participation.

                  According to Jayaram, Cauvery water is brought to the city from 90km away. About 1,440MLD is being supplied to Bengaluru and additional ground water of 600 MLD is drawn.

                  BM Somashekar, chief engineer of the board, said despite the number of rainy days having come down in the city, Bengaluru continues to receive 850mm rainfall annually. But very little is being saved and reused. The board has brought in many awareness programmes to promote RWH, including taking citizens and students to Sir M Visvesvaraya Rain Water Harvesting Theme Park.

                  According to BWSSB, Bengaluru spans about 800sqkm, but BWSSB jurisdiction is 570sqkm as of now, serving a population of 80.5 lakh, while others continue to depend on water tankers, especially those living in apartments. Average per capita consumption of water in Bengaluru is about 65 lakh litres a day.

                  Somashekar said BWSSB has about 8,000 active borewells in the city, but many are drying up during summer. He added they have about 27 RWH models for citizens, which can not only help them reuse water but recharge borewells too. Kumar said training plumbers can make a big difference.

                  Some residents who have implemented RWH shared their experiences, saying how they don’t have to rely on water tankers and BWSSB. Ashok Mrityunjaya, a resident of Aditi Elite apartment in Bellandur, said the complex did not have a BWSSB connection and was dependent on tankers. But after implementing RWH and digging borewells to recharge water, they have been able to sustain for almost one year.









                  Bengaluru: Buildings with rainwater harvesting may get 5% discount on water bills, Real Estate News, ET RealEstate (indiatimes.com)
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                  • Re : Latest RE News : Bangalore & other major Cities of Karnataka

                    Karnataka government may face teething troubles while adopting tenancy act: Experts

                    Despite the Karnataka Rent Control Act - 1999 being in place, both tenants and house owners in the city violated rules often.
                    BENGALURU: The new Model Tenancy Act (MTA), soon to be adopted by the state government, is expected to boost the real estate sector particularly in the rental space but its implementation may not be a cakewalk, say experts. Karnataka will be the first state in the country to adopt the new Act recently cleared by the Centre.

                    “The model Act looks favourable for both tenants and landlords; however, there are certain areas of concern,’’ said Suresh Hari, chairman, Credai Bengaluru. He said, the cap on the security deposit might turn out to be problematic for landlords, if the tenant defaults on rent payment or damages the property. In these cases, a two-month security deposit may not cover the landlord’s expenses of repair/losses due to non-payment of the rent, he added.

                    Farook Mahmood, chairman, Emeritus and founder-president- FIABCI India, said the two months’ rent as advance may not be enough to cover damages, especially considering that many tenants don’t pay previous month’s rent before vacating the premises.

                    Quoting one of the clauses in the Act, Mahmood said if one tenant defaults on rent in an apartment or commercial building, the authorities concerned will disconnect the utility for the entire property. “This may become a nuisance with apartment culture growing in all big cities,” he added.

                    Despite the Karnataka Rent Control Act - 1999 being in place, both tenants and house owners in the city violated rules often. “Landlords and tenants were not having written agreements and preferred cash payment to avoid taxes. There are many who are not ready to give PAN card details. The new law will make it compulsory for both parties to enter into a written agreement; they now need to inform the rent authority within two months of signing it. This might unsettle several landlords,” said V Bhaskar, a rental consultant.

                    As the Act also proposes to set up rent tribunals and rent courts in each district to resolve disputes, he said there may be too many cases registered.

                    As each state is free to change the Act before implementation, Hari and Mahmood said the state should address these issues before adopting it.

                    Despite acute housing shortage, revenue minister R Ashoka said over 2-3 lakh homes are lying vacant in urban areas and it was mainly due to absence of a good rental policy. With lack of adequate supply, rental rates in cities, mainly Bengaluru and Mangaluru, have skyrocketed over the years.









                    Karnataka government may face teething troubles while adopting tenancy act: Experts, Real Estate News, ET RealEstate (indiatimes.com)
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                    • Re : Latest RE News : Bangalore & other major Cities of Karnataka

                      Karnataka-RERA puts project details in public domain

                      Under the ‘Services’ tab on the website, K-RERA has provided data on the projects that received time extension and projects that were rejected or revoked by the authority.
                      BENGALURU: The forum of home-buyers that was demanding transparency in the functioning of Karnataka Real Estate Regulatory Authority (K-RERA) has received a partial victory. The regulatory body -- which had stopped displaying information related to extension and rejection of projects as well as copy of the orders on its website -- has made them public once again.

                      Under the ‘Services’ tab on the website, K-RERA has provided data on the projects that received time extension and projects that were rejected or revoked by the authority.

                      These sections were available for public view last year, but the authority quietly withdrew these details from its website. It was only after the Forum for People’s Collective Efforts (FPCE) campaigned for bringing transparency in the system, when the K-RERA made the details public.

                      However, MS Shankar, General Secretary of the forum, is not entirely happy. “The authority while displaying the projects that have received extensions -- should also provide information on what grounds the additional time was given,” he said. “The website states that 235 applications seeking extension has been approved. As per the Act, RERA does not have the powers to extend a project beyond one year,” he said.

                      The forum, he said, has also suggested that the Authority should display the complaints received from the home-buyers. “RERA has reserved judgements of over 100 cases without pronouncing them. I have come across a case where the judgment was not pronounced for more than a year. This is now how the home-buyers should be treated by the regulatory body,” Shankar said.

                      Kishore Chandra, who was recently appointed as chairman of the authority, said he would look into the issues raised by home-buyers.

                      Developers or promoters not honouring the judgments or orders passed by K-RERA is one of the major issues concerning the home-buyers. While the regulatory body has a record of passing judgments on 2,921 cases, only 232 home-buyers benefited from the orders passed by the authority. So far, RERA has received nearly 6,000 complaints, majorly from home-buyers.









                      Karnataka-RERA puts project details in public domain, Real Estate News, ET RealEstate (indiatimes.com)

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