DEB Infra Homes

Real estate developer Sattva Group purchased land in Bengaluru. The 8.5-acre property cost around Rs 300 crore. It belonged to a high-net-worth individual. The land has a built-up area and development potential. Sattva and Blackstone plan a REIT listing. This acquisition supports Sattva's expansion strategy. https://lnkd.in/g7mKaTmj

Karnataka is planning to develop a SWIFT City (Startups, Workspaces, Innovation, Finance, and Technology) at Sarjapur in Bengaluru. "This is to create integrated industrial development and strengthen the state’s startup ecosystem. This will be Karnataka's third major planned industrial hub after Electronic City and ITPL (International Tech Park, Whitefield). As the name suggests, SWIFT City will focus on Startups, Workspaces, Innovation, Finance, and Technology. The project covers more than 1,000 acres in Sarjapur Industrial Area," said Karnataka's Large and Medium Industries Minister MB Patil. https://lnkd.in/dj9Jpk6n

The complaint, filed by Errol John Noronha, president of the Ozone Urbana Buyers Welfare Association, accused the developer and financiers of obtaining loans in buyers’ names without project completion, diverting funds to other entities, and defrauding customers. The developer reportedly secured Rs 1,500 crore in mortgage loans and Rs 1,800 crore through other transactions, totalling Rs 3,300 crore in misappropriated funds. https://lnkd.in/gN--rVT7

BENGALURU: The 266 home buyers of apartments in a posh residential complex at Haralur village are facing a bleak future. After investing all their savings in flats in ‘Frontier Heights’ in Varthur hobli, they are clueless about the fate of their homes. The builder has neither completed it, nor has he adhered to an order passed by the Karnataka Real Estate Regulatory Authority (K-RERA) over a year ago. The Rs 120-crore project has 15 floors (plus a ground floor) with five blocks. The office of the developer, Frontier Shelters Pvt Ltd, is in Koramangala. Proprietor Anand Reddy, who resides in the same area, is unreachable. This despite homebuyers repeatedly staging protests outside his residence. https://lnkd.in/g9eNviNH

Infosys co-founder Narayana Murthy has reportedly made a jaw-dropping splash in Bengaluru’s real estate market, snapping up a second flat in the ultra-luxurious Kingfisher Towers for a staggering ₹50 crore. The 16th-floor residence, according to a Times of India report, is about 8,400-square-foot with four bedrooms and five dedicated parking spaces. https://lnkd.in/gZBapv6U

RERA: A father from Panvel, Navi Mumbai purchased a flat for his family legacy however the developer despite taking about 97% of the money failed to deliver the flat. Hence the homebuyer filed a case with the Maharashtra State Consumer Commission. However during the course of this court proceedings both the homebuyer and the builder died. Hence the builder and the homebuyer's son continued their father's case. Ultimately NCDRC, New Delhi solved this case and ruled in the homebuyer's favour. https://lnkd.in/gNJjF4XA

The project is located in the prime area of Yeshvanthapur and has over 2,500 units spread across 34 acres, according to 99Acres. The Karnataka High Court has asked the Bengaluru Development Authority to be ready with a plan to demolish an entire residential building if the builder fails to raze two illegally built floors. https://lnkd.in/gvfHfx7s

Mumbai, often referred to as the financial and commercial capital of India, is also home to the highest number of billionaires in Asia. The city’s real estate market, particularly in select upscale areas, has become a symbol of luxury and opulence. With 92 billionaires calling Mumbai home, the city has earned the title of the Billionaire Capital of Asia, surpassing Beijing. https://lnkd.in/gZQH_GnK

Emami Realty will invest Rs 10,000 crore in Indian real estate. The company will develop 22 million square feet of residential and commercial space. Projects are planned for Mumbai, Chennai, Kolkata, Bhubaneswar, and Jhansi. Emami Realty expects to generate Rs 15,000 crore in revenue. The company has 9 million square feet under development. https://lnkd.in/gdF7MT3q

The Karnataka Industries Area Development Board (KIADB) has been entrusted with the task of acquiring 1,050 acres of land for the project. The development, however, runs contrary to the government’s plan to decongest the city. The tech park will come up in Bikkanahalli, S Medahalli, Adigara Kallahalli, Sollepura, Murthanallur Amanikere and Handenahalli, which come under Sarjapur hobli of Anekal taluk. While the KIADB has nearly completed the process of acquiring around 647 acres of land spread across six villages, it will acquire an additional 401 acres in Hosahalli, for which preliminary notifications were issued earlier this month. https://lnkd.in/gUwdeDCn