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• Urban youth prefer to invest in real estate: Survey

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• Prestige Estates' net profit dips 84% in Q1 FY21

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• COVID-19 impact? In Bengaluru, companies vacated nearly 3.5 million sq.ft of office space this year

• Covid-19 wrecks havoc on Bengaluru’s office space deals

• BP mulls radical reduction of office space in move to flexible working

• Flexible Working: The New Normal Of a Post-COVID World

• Bengaluru sees highest growth in leasing of office spaces in 2019

• Coworking operator Trios to add 2,000 seats in Mumbai, Bangalore and Ahmedabad

• Office leasing looks up as people start returning to work

Karnataka news live: Malls, shopping complexes to reopen

From Times of India : Karnataka chief minister BS Yediyurappa on Saturday announced further relaxations of the existing Covid-19 restrictions in the state, as part of which Government offices permitted to reopen at full working strength and public transport including Metro to begin operations with full seating capacity from Monday. The state reported 2,082 fresh COVID-19 cases and 86 deaths in the last 24 hours, said the state health department on Saturday. The new cases pushed the total case tally in the state to 28,52,079. As many as 7,751 patients recovered from the disease in the last 24 hours taking the total recoveries to 27,68,632. The Bruhat Bengaluru Mahanagara Palike (BBMP) chief commissioner Gaurav Gupta on Saturday said that 54 teams of marshals have been formed to impose fines on those not following Covid-19 norms. Addressing a coordination meeting regarding implementation of Covid-19 rules effectively in BBMP limits at Town Hall here, he said the cases have come down from 20,000 cases to 600-700 everyday

Karnataka Lockdown: Will Strictly Enforce Covid Protocols, Action Will be Taken Against Guidelines Violators, Says Bengaluru Police

From India.com : Karnataka Lockdown Latest News Today 3 July 2021: On the other hand, BBMP Commissioner Gaurav Gupta said that he has called a joint meeting with the Police department to discuss strategy and strong action against guideline violators

Even as the state government is planning to relax restrictions further in the state in the wake of lower coronavirus cases, Bengaluru Police Commissioner Kamal Pant on Saturday said that the action will be taken against individuals or establishments for violating lockdown guideline. “After the second wave, people are behaving more responsibly. The state government is easing relaxations to ensure normalcy. We will be strictly enforcing covid protocols. Violation will lead to action against individuals or establishments,” Kamal Pant told news agency ANI.

Bangalore airport launches 150-bed oxygenated Covid-19 treatment centre

From economictimes.com Chief Minister BS Yediyurappa opened the facility, where patients will be treated free of cost. They, however, have to pay for medicines, tests and self-arranged ambulance service.

The Kempegowda International airport at Bengaluru on Wednesday launched COV-AID@BLR, a 150-bed oxygenated Covid-19 treatment centre at the airport premises.

Chief Minister BS Yediyurappa opened the facility, where patients will be treated free of cost. They, however, have to pay for medicines, tests and self-arranged ambulance service.

Located near the cargo terminals, COV-AID@BLR is open for the public and employees from the airport ecosystem, the Bangalore International Ai ..

BMRCL to run Namma metro services till 8 p.m

A day after the Karnataka government further relaxed lockdown norms, the Bangalore Metro Rail Corporation Limited (BMRCL) has decided to run Namma Metro services from 7 a.m. to 8 p.m. The new schedule will come into effect from July 5 morning. A decision has also been taken to operate trains on weekends as the government has lifted weekend curfew.

During the peak hours, trains will be operated with a frequency of five minutes and 15 minutes during non-peak hours from Monday to Friday. However, on weekends trains will be operated depending on the patronage.

Bangalore’s commercial real estate market: How it fared amid COVID-19

From Housing.com : Amid COVID-19, Bangalore’s commercial real estate segment has shown positive signs

With COVID-19 transforming the way offices and businesses operate, the immediate discussion has perhaps shifted to how remote working is the way to go. Does this mean that the demand for offices will fall and retail must go digital, completely? This is easier said than done and this is exactly why commerce in Bangalore has looked up, despite the Coronavirus impact on real estate and the lockdown. While sales were muted in both, the residential and commercial segments, industry experts are hopeful that within 12 to 18 months, the net absorption of commercial realty in Bangalore will look up, again.

Bangalore commercial real estate office market continues to attract large occupiers

From economic times.com : Overall the country’s office market witnessed a net absorption of 5.4 million sq ft in Q3 2020, an increase of 64% versus Q2 2020, led by Bengaluru and Hyderabad.

Bangalore commercial real estate office market continues to attract large occupiers to sign up under construction and built to suit spaces even as the pandemic continues, a move that reflects the underlying resilience of the market.

Office leasing looks up as people start returning to work

Large IT companies are leasing properties as they foresee substantial growth going ahead, says CREDAI, Bengaluru

With new COVID-19 cases reducing and more people returning to work, the real estate market is seeing a positive response to office leasing.

According to ANAROCK Property Consultants, the main southern office market has overtaken other regions in terms of new supply, net absorption, and even rental growth, with Bengaluru, Hyderabad, and Chennai seeing an increase in their share of total office leasing.

Raghu Cheluvaraju, General Manager- Corporate Leasing, Vaishnavi Group, said Bengaluru continues to see above average vacancy levels through 2021. However, market sentiment has improved and leasing has picked up through Q2 and especially in Q3, he said.

“Leasing has gone up as occupiers that have been looking to come back to office for sometime have found opportunities to lease new spaces or consolidate. Some IT occupiers are announcing back-to-office plans, whereas occupiers that work around teamwork and collaborative approach have already come back to office. The fact that people are going everywhere except offices has been noticed, but companies have been sensitive, considering employees have elderly people or children at home. With the vaccination drive being aggressive and schools reopening now, even these apprehensions are being addressed,” he said, adding that the high vacancy peripheral markets will experience some stress over the next quarter, but the market is poised to recover in Q1 - Q2 of 2022, when most employees are expected to come back to office.

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