Good morning, Bengaluru!
🌧️ Today’s weather: High: 28 ℃ | Low: 20 ℃ | Generally cloudy sky with light rain.
🧐 Did you know? Bengaluru has the highest number of two-wheelers registered for any Indian city.
🥻 Guidelines for malls
Deputy Chief Minister DK Shivakumar announced that the state government will issue guidelines to malls and other establishments following the GT Mall-farmer debacle.
What’s it about? The incident occurred on July 16 at GT World Mall, where a farmer named Fakeerappa was barred from entering because he was wearing a panche (dhoti). This led to the government ordering the mall’s closure for seven days.
- The Deputy CM emphasised the importance of cultural attire and confirmed that guidelines will be established to prevent such incidents.
- Discussions in the Legislative Assembly revealed support for the new guidelines across party lines.
GT Mall’s response: The mall, which also had pending tax dues, has since provided a written explanation, an apology, and paid the dues to resume operations.
🫱🏾🫲🏾 Defying national trends
Despite a slowdown in land acquisitions due to heated prices and the general elections, Bengaluru and Gurugram remained hotspots for land deals in Q2 2024.
What’s it about? 25 land deals covering over 325 acres were completed in Q2 2024, a decline from Q1’s 29 deals for 721+ acres. Bengaluru led with nine deals for approximately 114 acres, all designated for residential projects.
- Gurugram followed closely with seven deals for over 77.5 acres, focusing on residential and agricultural development.
- Mumbai, which had previously dominated land deals, saw a slowdown with only two deals.
Housing needs: Residential development continues to dominate the land acquisition scene, with 17 deals covering over 163 acres proposed for this purpose in cities like Gurugram, Bengaluru, Thane, Pune, and Ahmedabad.
🧑🏽⚖️ First trans divorce
A Bengaluru court has granted a divorce to trans activist Akkai Padmashali, marking a significant legal milestone.
What’s it about? Akkai was the first transwoman in Karnataka to register her marriage under the Special Marriage Act in 2018. She married Vasudev V, a cisgender man, on January 20, 2017, and their marriage was registered on January 23, 2018.
- They legally adopted a child the following year, and Akkai has been awarded sole custody.
- Despite the legal recognition of her marriage, Akkai faced challenges within her marital life, including violence.
Prominent activist: Akkai is a prominent advocate for LGBTQIA+ rights and was one of the petitioners in the Supreme Court marriage equality case last year. She leads Ondede, an organisation dedicated to the rights of sexual minorities in Karnataka.
🏠 Luxury housing slowdown
Despite the overall market strength, Bengaluru’s luxury housing segment has underperformed compared to the same period last year.
What’s it about? While the city recorded 200 luxury sales in Q2 of the previous year, only 10 units were sold this year, indicating a shift in investment towards mid-segment housing. The city’s most active markets are South, East, and North Bengaluru.
- Last year, the city saw 40,000 unit launches and 55,000 unit sales, primarily driven by mid-segment housing.
- It is predicted that Bengaluru’s residential stock will rise from 600,000 units to 800,000-900,000 units by 2030.
Factors responsible: Contributing factors to the trend include rental appreciation, a return to office trends, and improved infrastructure, which have also helped reduce unsold inventory to a historic low of 10%.
📊 Today’s Poll
(Only subscribers can participate in the polls)
Should malls and other similar establishments have a dress code?
- Malls and other similar establishments should have a dress code.
- Malls and other similar establishments should not have a dress code.
❓ Today’s Question
(Only subscribers can submit their answers)
What are the best places to buy property in Bengaluru right now?
Reply to this email with your answers.
🗞️ In other news…
- A Bengaluru duo were arrested for stealing more than 10,000 shoes over seven years.
- BMTC has made 250 appointments of dependents on compassionate grounds.
- Ohmium has launched a PEM electrolyser gigafactory in Bengaluru.
- BBMP property leasing is to be capped at 30 years per the new draft estate rules.
- ZARF has brought Indian Accent to the Sheraton Grand Bengaluru Whitefield Hotel.
🛋️ Local Lounge
Yesterday’s Poll:
- I have seen hoardings in the city in the past six years: 71.4% 🏆
- I have not seen hoardings in the city in the past six years: 28.6%
That’s it for today. Have a great day!