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Financial & legal due diligence · public record · 18 Oct 2026

Mahindra Zen

Mahindra Lifespaces · HSR Layout / BTM / Koramangala fringe · Mahindra Eden

Promoter entityMAHINDRA LIFESPACE DEVELOPERS LIMITED
Entity type · PANCompany · AAACG8904C
Developer brandMahindra Lifespaces · #59 in Bengaluru by RERA registrations
RERA registrationsRegistration: PRM/KA/RERA/1251/310/PR/210324/006712
Planning authorityBBMP - Bruhat Bengaluru Mahanagara Palike
Sanctioned planBBMP/Addl.Dir/JDSOUTH/0026/23-24 · 2024-02-29
Escrow bankAxis Bank, Ground Floor, JR Plaza, No. 6, Kanakapura Road, Raghuvanahalli
Land4.25 acres · 1 land owner on record
Court cases declared0
Complaints at K-RERA1 on this project · 4 on the promoter
Record fetchedSep 2026
0 red flags3 to watch4 positive

Automated from the Karnataka RERA file PRM/KA/RERA/1251/310/PR/210324/006712 and 3 quarterly filings. Prices and rents are locality estimates, not verified listings. This report records what the Karnataka RERA file, the promoter’s quarterly filings, the complaint register, public credit ratings and company filings say. It states facts and flags them; it does not judge the investment. Prices, returns and the investment score live in the separate full report.

Financial & legal due diligence

What the public record says

Automated from the Karnataka RERA file PRM/KA/RERA/1251/310/PR/210324/006712 and 3 quarterly filings. Prices and rents are locality estimates, not verified listings. Compiled Sep 2026 from the Karnataka RERA file, company registers, rating agencies, tribunal records and press. Facts only; anything that deserves a written answer before signing is flagged.

0 red3 watch4 positive
Delivery timeline9/10
no extensions, no overdue dates on the RERA file
Legal & complaints8.5/10
1 RERA complaint on the project (−0.5)
Money to finish9/10
finance cost is 3% of the registered budget; last quarter: collected ₹25.06 cr, withdrew ₹16.59 cr; 100% of homes booked (+1)
Developer strength9/10
CRISIL AA/Stable (Mahindra Lifespace Developers)

Meters are rule-based from the RERA file and public ratings (rules shown under each), not opinions.

Registration
PRM/KA/RERA/1251/310/PR/210324/006712 · MAHINDRA LIFESPACE DEVELOPERS LIMITED
On original date
RegisteredDec 2023TodaySep 2026Original completionDec 2028
Construction47%
quarterly filing Q1 2026-27 (submitted 2026-07-13)
Homes booked227 / 228
1 still available
Sold vs built100% vs 47%
Buyers are well ahead of construction: most money is in, delivery risk sits with the developer.
Money through the RERA account
Collected ₹35.31 CrWithdrawn ₹33.67 CrQ3 2025-2635.31 Cr33.67 CrCollected ₹18.04 CrWithdrawn ₹18.41 CrQ4 2025-2618.04 Cr18.41 CrCollected ₹25.06 CrWithdrawn ₹16.59 CrQ1 2026-2725.06 Cr16.59 Cr
Collected from buyersWithdrawn for construction
Latest milestones
  • Electrification, Water supply and Sanitary
    0%
  • Painting
    0%
  • Fire prevention and fire fighting fitting
    0%
  • Weather Proof work
    0%
  • Elevation work
    0%
  • Internal and External work including lands
    0%
No litigation declared1 complaintsEscrow: Axis BankJoint-development land
Credit ratings of the people behind it
AAAAAABBBBBBCDinvestment grade ◀▶ speculative gradeCRISIL AA / Stable · Mahindra Lifespace Developers · Jun 2025
Complaints & disputes on record
On this project1– open
On the promoter entity4all projects
Court cases declared0no stay recorded
At a glance
On its original RERA date

On its original RERA completion date: 2028-12-31

47% built, 100% booked

47% built per the latest filing; 227/228 homes booked

1 RERA complaints

1 RERA complaints on this project; 4 on the promoter overall

No litigation declared

No litigation declared in RERA filings

The record, in pictures

RERA file · Registration

Registered project cost ₹279 cr — where it goes
Approvals ₹16.8 cr · 6%Construction & on-site ₹205.7 cr · 74%Finance (bank) ₹8.8 cr · 3%Other / taxes ₹47.7 cr · 17%
Construction programme as filed (quarterly filing Q1 2026-27 (submitted 2026-07-13))
2025202620272028Earth work and other leveling preparat85%Foundation footing work50%Upto Plinth Level20%Sub-structure flooring33%Retaining wall66%RCC or MS Framed structure73%Masonry Construction21%Plastering inside , outside & Ceiling33%Joinery: Doors, Windows, Ventilators e18%Basic work of Water supply, Sanitary a17%Dadoing, Skirting, Flooring, Tiles wor18%Railing and Grill fixing51%Electrification, Water supply and Sani0%Painting0%Fire prevention and fire fighting fitt0%Weather Proof work0%Elevation work0%Internal and External work including l0%today
Bars are the filed schedule; filled part is reported progress. Red = past its scheduled end and not complete.
No litigation declaredBorrowing declared: NoEscrow at Axis Bank1 recorded land-owner shareOwners’ association: not formed

Red flags to resolve in writing

Questions to put to the developer before you sign

  1. Share the latest CA Form 4 and architect Form 5 with the escrow deposit ratio.
  2. Confirm the price list, floor-rise and other charges for the exact unit.
  3. Which date is contractual — 2028-12-31 — and what is the per-month delay compensation?
  4. Confirm there is no litigation on the land or approvals beyond the RERA declaration.
  5. Is the land freehold with the developer, and is any part mortgaged?
Full record: every filed number, line by line1 sections · 13 items

RERA file · Registration

Registration
PRM/KA/RERA/1251/310/PR/210324/006712 · promoter MAHINDRA LIFESPACE DEVELOPERS LIMITED (Company) · L45200MH1999PLC118949
Dates
Start 2023-12-01 · original completion 2028-12-31 · no extensions
Progress
47% complete per quarterly filing Q1 2026-27 (submitted 2026-07-13) · 227 of 228 homes booked (1 available)
Registered cost
Total ₹279 cr · construction ₹206 cr · bank principal+interest ₹8.80 cr
Borrowing / mortgage declared
Borrowing: No
RERA bank account
Axis Bank, Ground Floor, JR Plaza, No. 6, Kanakapura Road, Raghuvanahalli (70% construction account)
Plan sanction
BBMP/Addl.Dir/JDSOUTH/0026/23-24 dated 2024-02-29 · BBMP - Bruhat Bengaluru Mahanagara Palike
Land & towers
4.25 acres (17,199 sq m) · WING A 126 homes, 25 floors; WING B 102 homes, 25 floors
Land owners / co-promoters
Mahindra Lifespace Developers Limited (100.0%, Sy 406/391/379/65/116)
Litigation declared
None declared in filings
K-RERA complaints
1 on this registration · 4 on the promoter entity across all its projects
Owners’ association
Not yet formed
Completion applied
19/12/2020

Source: Karnataka RERA project record PRM/KA/RERA/1251/310/PR/210324/006712, fetched 2026-09-15. Figures are the promoter’s own filings.

Sources & caveats2 sources
  • Karnataka RERA project record PRM/KA/RERA/1251/310/PR/210324/006712 (registration file, quarterly updates, complaint register), fetched 2026-09-15
  • PropertyLens locality model (market-level estimates)
  • Karnataka RERA project records PRM/KA/RERA/1251/310/PR/210324/006712 (registration file, quarterly updates, complaint register), fetched Sep 2026.

Caveats. Automated analysis: prices, rents and travel times are estimates until listings and Maps data are verified. RERA figures are the promoter’s own filings. Nothing here is legal, tax or investment advice.

PropertyLens · property-lens.ai · Facts are transcribed from public records as filed by the promoter and the regulator; figures on RERA certificates are promoter numbers certified on unaudited books. Absence of a court case or insolvency filing in these sources is not proof that none exists. Verify title, approvals and encumbrances with a lawyer before you sign. Nothing here is legal, tax or investment advice.
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