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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

    Will fill all potholes in Bengaluru by October 30: Revenue minister R Ashoka

    TNN / Updated: Oct 1, 2021, 08:29 IST


    BENGALURU: With an eye on civic polls less than six months away, the Karnataka government has set an October 30 deadline for the Bruhat Bengaluru Mahanagara Palike (BBMP) to fill all potholes in the city.

    Revenue minister R Ashoka on Thursday said work orders have been issued to two firms to fill the potholes. The deadline comes in the backdrop of rising public anger against the condition of roads and increasing accidents due to potholes.

    Craters on 246km of city roads fixed

    The minister said potholes on major roads will be filled in the first 10 days from now, sub-arterial roads in the next 10 days and bylanes and roads by October 30.

    Ashoka said the bigger issue for BBMP was bitumen procurement and cyclone-induced rain in the city. The BBMP has procured 585 loads of uninterrupted tar supply for the streets of Bengaluru. Of the 13,074km of roads in the city, the BBMP has so far fixed potholes on 246km.

    Ashoka said Rs 1,000 crore has been released to the BBMP for taking up road restoration projects on the outskirts of the city which has seen 2,500km of roads damaged due to pipeline-laying work for drinking water and underground drainage for the 110 villages brought under BBMP in 2006.

    He said each of the 198 wards has been allocated Rs 20 lakh for the pothole-filling exercise.

    Ashoka and officials went on a city tour to take stock of the condition of roads. The minister admitted the poor condition of roads has given rise to accidents and resulted in back-breaking journeys for motorists.







    R Ashoka: Will fill all potholes in Bengaluru by October 30; Revenue minister R Ashoka | Bengaluru News - Times of India (indiatimes.com)
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    • Re : Latest RE News : Bangalore & other major Cities of Karnataka

      Bengaluru: Pothole deadline pushed by 25 days


      Nithya Mandyam / TNN / Oct 2, 2021, 07:07 IST



      BENGALURU: The Bruhat Bengaluru Mahanagara Palike has extended the September 30 deadline it had set to fill all potholes in the city by another 25 days.

      Gaurav Gupta, chief commissioner BBMP, said the deadline had to be extended due to rain. “As revenue minister R Ashoka has said, potholes on main roads will be filled by October 10 and ward roads between October 20 and 25,” Gupta said.

      “There are some roads in the city which are in a bad shape and we have instructed the engineers to even those stretches such that people can easily commute,” the BBMP chief further said.

      It may be recalled that revenue minister Ashoka held a meeting on Thursday to discuss relief for people who died due to accidents caused by potholes. “Work by Bescom and BWSSB is still under way in the 110 villages on the city’s periphery. Hence, roads in these areas are damaged. The GoK has released Rs 1,000 crore for works in these areas,” Ashoka had told TOI.

      Using the hot mix plant available with it, the Palike used 490 truckloads of asphalt to fill potholes cumulatively spread over 157,913 sq metres from June 2021 till now.

      “We agree potholes haven’t been filled everywhere. But that is because of free-flowing traffic and rain, which make it difficult to complete the work,” said BS Prahalad, chief engineer, BBMP (road and infrastructure). “Soon all potholes in the city will be filled and commuters can move without worry,” he asserted.

      Across eight zones, chief engineers, executive engineers, and others pertaining to road infrastructure works have been engaged in pothole-filling and road-fixing works.

      “We have informed even contractors doing asphalting works to fill potholes,” Prahalad added.

      BBMP has instructed Bangalore Electricity Supply Company Limited, Karnataka Power Transmission Corporation, Bangalore Water Supply and Sewerage Board and optical fibre cable (OFC) organisations digging up roads to take up such works after seeking BBMP’s permission and execute them only if necessary, considering the weather.









      Bengaluru: Pothole deadline pushed by 25 days | Bengaluru News - Times of India (indiatimes.com)
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      • Re : Latest RE News : Bangalore & other major Cities of Karnataka

        Blame it on the rain


        Bangalore Mirror Bureau / Updated: Oct 1, 2021, 06:00 IST

        .
        By Noor Aiman & Pragna L Krupa

        449 km arterial roads still pothole ridden


        As the much anticipated deadline for fixing the city’s pothole-infested roads is now behind us, guess what? Revenue minister R Ashoka says the date was missed due to rainfall. Of course, it was.

        Well, here is the shocker though. There are potholes on at least 449 km of arterial and sub-arterial roads in the city. Revealing this information, the revenue minister clarified there are 13,874 km of roads in the BBMP limits. Out of this, 1,344 km roads are categorised as arterial and sub-arterial. Of this, 449 km of roads are in a bad condition and need to be fixed while the potholes on the remaining stretches have been fixed.

        Now, the minister has set another deadline: “I have asked the officials to fill the potholes on all the major roads within 10 days. Earlier, we could not fill potholes as supply was disrupted from the hot mix plant for 12 days due to rainfall. Currently, 12 loads are supplied each day which will be increased to 30 loads which will help the BBMP. I have also asked the officials to engage local contractors and fill the potholes along the rest of the roads within 20-25 days. However, it will take more than a month to fill potholes or fix roads in 110 villages as the BWSSB is laying water and sewage pipelines. The state govt has released Rs 1,000 crore to asphalt the roads for which tenders have been called. These roads will be repaired in the next 20 to 30 days. We will blacklist contractors if the quality of road works is poor.”

        Meanwhile, on the day of the deadline for BBMP to fill potholes, a water tanker got stuck after the Varthur Main Road caved in due to poor repair work. In order to maintain free flow of traffic, the city traffic police swung into action and filled the pothole and cleared the vehicles on Thursday morning.

        The residents of Varthur have been raising the issue of potholes but no permanent solution has been achieved by the civic agencies. Recently, the BESCOM had dug up Varthur Main Road but did not fix it properly. Due to the rainfall in the last few days, the road turned slushy and difficult to commute for both motorists and pedestrians, said Jagadish Reddy of Varthur Rising: “We were on a morning stroll. We witnessed the incident around 7:30 am. The tanker was stuck as the road caved in.


        .

        With the help of the traffic police and public we somehow salvaged the vehicle, cleared the traffic and filled the pothole. No civic agency turned up to help including the BESCOM. The Palike officials came in after we fixed the road. BESCOM, after the finishing works, should put up barricades as an indication for the motorists. A lack of the same eventually led to the incident. It would have been worse if it was a two wheeler.”

        According to Reddy, the road has several potholes. Many minor accidents have already taken place but no action was taken, he revealed. “Now, we have managed a temporary fix. As the tanker was heavy, the water had to be let out. Soon, the road turned slushy. BBMP needs to work on a permanent solution,” he added.

        The Whitefield traffic police, meanwhile, are concerned about public safety and free flow of traffic. “We did not want to wait for the civic agencies to turn up and start the work. By then the peak hour traffic would be in full swing. We arranged an earthmover and requested the nearby construction site to provide us with some gravel and cement. Some policemen were diverting the vehicles. On the other side, we helped to free the water tanker and filled the pothole. It was done within an hour,” he said.

        A BBMP officer said the road was handed over by the Palike to the Karnataka Road Development Corporation Limited (KRDCL): “The work was taken up by BESCOM. The water body was digging trenches for laying underground pipes. BBMP is working with the KRDCL and BESCOM to fix the road.”








        Blame it on the rain (indiatimes.com)
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        • Re : Latest RE News : Bangalore & other major Cities of Karnataka

          Cops fix the dangerous roads of Jalahalli

          ByBellie Thomas / Updated: Oct 2, 2021, 06:00 IST


          Traffic police also helped repair potholes in Jalahalli


          Traffic police put reflective stickers at bends, fixed speed-breakers and fixed signboards

          The Jalahalli Traffic police have taken it upon themselves to make roads safe for motorists as there are a lot of stretches of roads in their jurisdiction that fall under gram panchayats that are ignored by the civic authorities. These stretches of roads look like the ones that go through forests with street lights obstructed by tree branches, poor light and visibility issues that had resulted in many minor accidents and complaints from the villagers to the police.

          It was then that the Jalahalli traffic cops decided to do something about it and began identifying the blind curves in their jurisdiction at the intersection of the Dodda Baladakere and Chikkabaldakere where they put up string posts and cat eyes (fixed reflective blinkers on roads at nighttime). They did not stop with that and put up reflective stickers on numerous trees on the curves.

          According to the Jalahalli traffic police inspector, Gangadhar, his jurisdiction has roads that come under at least four gram panchayats - Hesaraghatta, Hurali Chikkanahalli, Chikkabanavara and Danish Farm and these roads are not well maintained. There are potholes and slopes without road humps and the traffic equipment like hazard boards have worn out. “Some of the signboards have fallen off, broken or bent, others with the paints and signs gone,” he said.

          There are potholes and slopes without road humps and traffic sign boards have worn out. Some boards have fallen, are broken

          –Gangadhar, Jalahalli traffic police inspector

          Over the past one month, the Jalahalli traffic police started collecting reflective stickers from the TMC store and started work on their own fixing potholes and sticking reflector stickers to trees, putting up string posts, and cat eyes and fixing the worn out traffic furniture. Fixing these at different stretches of roads coming under their jurisdiction, the Jalahalli traffic cops have totally covered around 15 kilometres with reflective stickers and fixing traffic furniture. The cops also put up road humps on the stretch of roads that had slopes, but as soon as they put it, based on a complaint of some villagers, the road authorities turned up there to remove the road hump.

          However, the traffic cops convinced the road authorities otherwise, and to retain the humps or else accidents would happen there due to overspeeding, the police said.










          jalahalli: Cops fix the dangerous roads of Jalahalli (indiatimes.com)
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          • Re : Latest RE News : Bangalore & other major Cities of Karnataka

            Bengaluru: Rs 650-crore cost stalls infrastructure work in Nadaprabhu Kempegowda

            The BDA had engaged two companies – L&T Limited and SMPL Infra Ltd/Amrutha Constructions – for providing basic amenities in the 2,600-acre layout at a total cost of Rs 1,800 crore. The layout comprises 23,000 sites with various dimensions. So far, the contractors have been able to complete only 41 per cent of the total work. File photo

            BENGALURU: The increase in variation cost to the tune of Rs 650 crore has stalled the infrastructure works of Nadaprabhu Kempegowda layout for the past couple of months. It’s learnt that construction companies have abandoned the work after the Bangalore Development Authority (BDA) started dragging its feet over the approval of additional grants.

            The BDA had engaged two companies – L&T Limited and SMPL Infra Ltd/Amrutha Constructions – for providing basic amenities in the 2,600-acre layout at a total cost of Rs 1,800 crore. The layout comprises 23,000 sites with various dimensions. So far, the contractors have been able to complete only 41 per cent of the total work.

            “The month-on-month progress has dropped to 1 per cent from the earlier 5 per cent monthly progress. We do not see any men or machinery in the layout and the work has come to a halt on major parts of the layout. This is in spite of RERA ordering the BDA to complete infrastructure work by December this year,” Surya Kiran, one of the site alottees, said.

            Officials blamed the contractors for discontinuing the work. “Some of the works were not factored in to reduce the project cost. The number of manholes and the total length of the underground utility duct were among the works whose quantity was brought down. We directed the contractors to take up the tendered works but they have abandoned the work,” a senior BDA official said.
            The monthly progress has dropped to 1 % from the earlier 5%. This is in spite of RERA ordering the BDA to complete the work by December– Surya Kiran, site allottee
            Among the works that were not factored in included construction of substation. The BDA decided to take up substation work for the electricity work only recently. The work is expected to further delay the layout being put to use as the project needs another 18 months for its construction.

            It’s learnt that the variation cost was tabled before the BDA’s Board meeting in December last year. The authority is yet to give an administrative approval for taking up the additional works.

            The delay is expected to further irk the allottees who have been waiting to construct a house in the layout for the last four years. Some blamed BDA’s mismanagement in forming the layout without creating an escrow account. The authority, it’s learnt, used the money received from the allottees for other projects in violation of RERA orders. Some estimate that the BDA alone may have collected as much as 26,853 crore from the 23,000 alottees.











            Bengaluru: Rs 650-crore cost stalls infrastructure work in Nadaprabhu Kempegowda, Real Estate News, ET RealEstate (indiatimes.com)
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            • Re : Latest RE News : Bangalore & other major Cities of Karnataka

              Inspira Builders buys over two acres land in Bengaluru

              The company will develop a residential township spanning over two lakh sq ft with an estimated valuation of Rs 150 crore. Representative Image

              NEW DELHI: Inspira Builders has bought over two acres of land in Electronic City, Bengaluru, Savills India, an international property consultant, which facilitated the deal informed in the media release.

              The company will develop a residential township spanning over two lakh sq ft with an estimated valuation of Rs 150 crore.

              "This stalled project had various stakeholders to deal with; Savills team was instrumental in settling with all pending issues and landowner concerns to seal the deal," it said.

              The land was to be developed by Sycon Construction earlier, and is now taken over by Inspira Builders.

              In the coming months, we anticipate more such residential projects gaining traction given the connectivity and infrastructure around Electronic city, said Rajan Kumar Mishra, senior director (Land Advisory & Transactions), Savills India.









              savills india: Inspira Builders buys over two acres land in Bengaluru, Real Estate News, ET RealEstate (indiatimes.com)

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

                Bengaluru: 60% streetlights defunct on Outer Ring Road

                Nithya Mandyam / TNN / Oct 11, 2021, 08:29 IST


                Image used for representational purpose

                BENGALURU: As Covid-19 cases have dipped in the city, tech parks and startups are opening up, but dimly lit stretches on Outer Ring Road are turning out to be a deterrent for professionals keen to return to workplaces.

                The 17-km stretch of ORR between Silk Board and KR Puram has 1,650 streetlights, but 978 or 60% of them are not working, shows a recent survey by a 10-member team of Outer Ring Road Companies Association. Most of the functional streetlights are too dim to be of any use. According to ORRCA, 600 tech companies and startups *** the stretch.

                40% dysfunctional: Palike

                BBMP, however, said they have begun fixing faulty streetlights on the stretch since the ORRCA survey and 60% are now working.

                “There are many pedestrians crossing the road. So it is very important that streetlights work. Given the high-speed traffic movement in the corridor, pedestrians need to feel safe while walking on this road. But sadly, that is not happening,” said Krishna Kumar Gowda, operations manager, ORRCA. “Civic agencies need to work in coordination and fix the streetlights soon,” he said.
                Ramesh Nandi, a techie and ORR user, says he was recently about to crash his car into a pedestrian on a dark stretch. “Near the Iblur stretch, streetlights are barely working. Like a flash, one streetlight works among the many that are defunct. This does not help,” he said.

                “On a recent Saturday evening, I was driving back home and could not see the road hump as it was pitch dark. I jumped the hump and was about to hit a pedestrian. Thankfully, I pulled the handbrake and my vehicle stopped. It could have been a fatal accident,” he said. A jurisdictional police officer said: “We have requested BBMP to fix streetlights on this stretch as soon as possible, but to no avail. Ensuring that the accidents don’t happen has become a Herculean task for us.”

                ORRCA had earlier raised the issue of dysfunctional streetlights at a multi-agency meeting chaired by EV Ramana Reddy, additional chief secretary, information technology department, who instructed BBMP to address the problem immediately.

                “We are already working on the issue; we will fix all the streetlights soon,” said a senior Palike official.









                Bengaluru: 60% streetlights defunct on Outer Ring Road | Bengaluru News - Times of India (indiatimes.com)
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                • Re : Latest RE News : Bangalore & other major Cities of Karnataka

                  Prestige Estates' sales bookings up 88% to Rs 2,111.9 crore in Q2 FY22

                  In a regulatory filing, Bengaluru-based firm informed that its sales bookings rose to Rs 2,845.8 crore in the first six months of this fiscal year from Rs 1,584.4 crore in the corresponding period of the previous year.
                  NEW DELHI: Real estate firm Prestige Estates Projects Ltd on Monday reported an 88 per cent year-on-year growth in its sales bookings at Rs 2,111.9 crore for the quarter ending September on better housing demand. Its sales bookings stood at Rs 1,123.3 crore in the year-ago period.

                  In a regulatory filing, Bengaluru-based firm informed that its sales bookings rose to Rs 2,845.8 crore in the first six months of this fiscal year from Rs 1,584.4 crore in the corresponding period of the previous year.

                  Prestige Group Chairman Irfan Razack said: "Despite the challenging environment, Prestige has clocked highest quarterly sales and collections."

                  The new sales were driven by the healthy response its newly launched project, Prestige Great Acres, and the existing inventories across geographies, he added.

                  Commenting on this, Venkat K Narayana, Chief Executive Officer, Prestige Group said, "H2F22 will be an exciting period backed by favourable macro fundamentals and a robust launch pipeline."

                  "Apart from the launches in southern market, we are launching three projects in Mumbai and one project in NCR with a combined launch pipeline to the tune of 10 million sq ft," he said.

                  Prestige Group, one of the leading real estate developers in the country, has diversified business model across residential, office, retail, and hospitality segments with operations in 12 key locations in India.

                  The group has completed 250 projects with developable area of 136 million sq ft and has 50 ongoing projects across segments, with total developable area of 62 million sq ft.

                  Further, it has 68 million sq ft under planning and holds a land bank with potential developable area of over 27 million sq ft.









                  Prestige Estates' sales bookings up 88% to Rs 2,111.9 crore in Q2 FY22, Real Estate News, ET RealEstate (indiatimes.com)
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                  • Re : Latest RE News : Bangalore & other major Cities of Karnataka

                    Bengaluru civic body collects Rs 2,291 crore property tax in Apr-Sept 2021

                    There is an interesting trend in the payment of property tax collection this time. Online payment is more compared to offline tax. Rs.1,230 crore is collected from online payment and Rs.1,061 crore is collected via bank account.
                    BY: Prakash VL

                    BENGALURU: The BBMP which is struggling to meet its financial targets can breathe easy. The civic agency has collected a record Rs.2,291 crore in property tax in the city between April 1, 2021, and September 30, 2021.

                    It is Rs.239 crore more as compared to last year. Covid-19 is also in control and the city is returning to normalcy. In this background the property tax section seems to be performing well.

                    There is an interesting trend in the payment of property tax collection this time. Online payment is more compared to offline tax. Rs.1,230 crore is collected from online payment and Rs.1,061 crore is collected via bank account.

                    This year there was a target of collecting Rs.4,000 crore in property tax. In the last six months, the target was surpassed with about 57 per cent of property tax. To reach the 100 per cent target by collecting the remaining 53 per cent, the BBMP organised a tax collection campaign, Khata mela and other programmes.

                    Notices were issued to 1.41 lakh people who were among the 3 lakh people who were not paid property tax. So, this year tax collection is increased. By organising Khata mela, BBMP has included more than 21,000 new properties in Yelahanka, Mahadevapura, and Bommanahalli and also instructed zone revenue officers to include more than one lakh properties under the BBMP tax structure.

                    A BBMP official said, “The tax structure is different for a site, residential, and commercial buildings. But some people evade tax on buildings by paying only for sites. Tax must be paid according to declaration made by residents to the BBMP. But most people pay tax by dodging documents. Hence, the BBMP has asked its personnel to verify the tax amount paid with the actual property tax so that it doesn’t suffer any losses.”











                    Bengaluru civic body collects Rs 2,291 crore property tax in Apr-Sept 2021, Real Estate News, ET RealEstate (indiatimes.com)
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                    • Re : Latest RE News : Bangalore & other major Cities of Karnataka

                      Cisco renews lease pact for over 2.7-million-sq-ft office space in Bengaluru

                      San Jose-headquartered company has entered into an agreement with the Blackstone Group-entity Nucleus Office Parks to renew the lease at its Cessna Business Parks at Outer Ring Road in Bangalore.
                      American technology major Cisco Systems’ India arm has renewed its lease for 9 commercial buildings totalling over 2.7 million sq ft in the largest office lease transactions in the country since the pandemic outbreak, said persons with direct knowledge of the development.

                      The San Jose-headquartered company has entered into an agreement with the Blackstone Group-entity Nucleus Office Parks to renew the lease at its Cessna Business Parks at Outer Ring Road in Bangalore.

                      Cisco has renewed the lease for this space, which houses its data labs and development offices, for the next five years at 20% escalation to existing rentals,” said one of the persons mentioned above.

                      Cessna Business Parks, an information technology special economic zone (SEZ), was earlier owned by realty developer Prestige Estate Projects and was sold to Blackstone as part of the over Rs 7,460 crore transaction.

                      Following the conclusion of the Prestige transaction, Blackstone integrated this asset with Nucleus Office Parks that houses the US private equity major’s standalone office assets that are not part of any alliance with Indian developers.

                      ET’s separate email queries to Cisco and Nucleus Office Parks remained unanswered until the time of going to press.

                      Occupiers and tenants of large office complexes across the country including big corporations are renewing their lease agreements indicating their preference despite the much-talked about emergence of the work-from-home option following the outbreak of Covid19 pandemic last year.

                      Corporates are going for renewals of large office spaces in key office markets with several large deals that were concluded recently.

                      Following the outbreak of Covid19 pandemic, around 21 million sq ft office spaces have been renewed since April 2020.

                      In some of the largest deals, Tata Consultancy Services (TCS) signed around 1.3 million sq ft, Concentrix signed 8.46 lakh sq ft, JP Morgan 8.44 lakh sq ft, IBM 7.93 lakh sq ft and Amazon 6.34 lakh sq ft across major Indian cities.

                      Rising interest in renewing office leases by big organizations is an indication of the return of business confidence and hiring scenario.

                      The strength displayed by the office market in India since the pandemic owes much to the fact that the IT/ITeS sector has been largely unaffected by the economic downturn. IT/ITeS occupiers continued to account for a majority of the office leasing activity in 2020 at around 50%.

                      The Indian IT industry, the lead demand driver for office real estate in India, is expected to hire more than 350,000 employees in 2022, double the average in the past five years, translating into more office space.

                      The top five IT companies, representing nearly one-third of the 4.4 million-strong Indian IT-BPO industry, hired 55,000 people in the June quarter and are likely to conclude the year with net hiring of around 1.5 lakh employees, 50% higher than the best year in the past decade.

                      Taking cues from 2020, the second half of the year is expected to witness increased momentum in the office space pick up.

                      In 2021, net office absorption across seven major cities is likely to remain flat at around the levels of 25.6 million sq ft achieved in 2020, in case there are no further lockdowns, JLL India said in a recent report.

                      It expects the year 2021 to most likely close on an encouraging note provided vaccination targets are achieved and the country does not see another major outbreak of the virus.









                      cisco: Cisco renews lease pact for over 2.7-million-sq-ft office space in Bengaluru, Real Estate News, ET RealEstate (indiatimes.com)
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