BBMP’s mandatory digital property certification is disrupting Bengaluru’s residential real estate, causing registration delays, tax payment complexities, and real estate market slowdowns despite its promise of transparency and efficiency.
Analysts predict flat residential demand in Bengaluru for 2025, while commercial real estate thrives. Northern and eastern micro-markets emerge as key growth areas driven by metro connectivity and infrastructure improvements. New vertical development strategies adapt to land scarcity, and developers adopt innovative pricing models to sustain buyer interest.
Bangalore introduces an AI-powered system to enhance property valuation accuracy and transparency, impacting property taxation. This initiative aims to streamline assessments, benefiting residents and the municipality alike.
Bengaluru's rental inflation exceeds Singapore's due to a 20-30% rent increase, driven by companies ending work-from-home policies.
Bangalore's lakeside property construction gets green light for pre-2016 approved projects, boosting real estate market and sparking new development plans.
The Karnataka High Court addressed a PIL regarding Bruhat Bengaluru Mahanagar Palike's property tax collection. The court instructed the commissioner to acknowledge a representation by Bharatha Surachana Mandala within three months.
BBMP may extend the 5% property tax rebate until the end of June. The BBMP Council will decide in the next two days. This follows taxpayer confusion over new tax zones.
Bangalore's e-payment of property tax system faces criticism as many residents lack access, forcing them to visit tax offices despite promises of convenience.