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

sipani Royal Heritage Phase-I

Sipani · Attibele / Anekal / Chandapura · Sy No. 78/2,78/3, of Iggalur village , sy No 308 & 309m site No. 7 of Marsur village, kasaba Hobli, Anekal Taluk, Bangalore -560099

Promoter entitysipani properties pvt ltd
Entity type · PANCompany · AADCA2239B
Developer brandSipani · #64 in Bengaluru by RERA registrations
RERA registrationsRegistration: PRM/KA/RERA/1251/308/PR/180328/002366
Planning authorityBMRDA - Bangalore Metropolitan Region Development Authority
Sanctioned plannot filed
Escrow bankHDFC, kasturba road
Land9.74 acres
Court cases declared0
Complaints at K-RERA4 on this project · 9 on the promoter
Record fetchedSep 2026
2 red flags3 to watch2 positive

Automated from the Karnataka RERA file PRM/KA/RERA/1251/308/PR/180328/002366 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/1251/308/PR/180328/002366 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.

2 red3 watch2 positive
Delivery timeline3/10
3 extensions on the registration (−6)
Legal & complaints7/10
4 RERA complaints on the project (−2); 1 still open
Money to finish7/10
finance cost is 0% of the registered budget; last quarter: collected ₹7.54 cr, withdrew ₹7.32 cr; only 0% of homes booked (−1)
Developer strength5/10
no public credit rating for the promoter

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

Registration
PRM/KA/RERA/1251/308/PR/180328/002366 · sipani properties pvt ltd
3 extensions
RegisteredNov 2017Original completionSep 2021Covid ext.Jun 2022Section 6 ext.Jun 2023TodaySep 2026Further ext.Sep 2026
Construction93%
quarterly filing Q1 2026-27 (submitted 2026-07-24)
Homes booked13 / 6869
6856 still available
Sold vs built0% vs 93%
Sales and construction are broadly in step.
Money through the RERA account
Collected ₹16.14 CrWithdrawn ₹16.09 CrQ3 2025-2616.14 Cr16.09 CrCollected ₹18.46 CrWithdrawn ₹19.21 CrQ4 2025-2618.46 Cr19.21 CrCollected ₹7.54 CrWithdrawn ₹7.32 CrQ1 2026-277.54 Cr7.32 Cr
Collected from buyersWithdrawn for construction
Latest milestones
  • Basic work of Water supply, Sanitary and E
    80%
  • Dadoing, Skirting, Flooring, Tiles work
    80%
  • Painting
    80%
  • Joinery: Doors, Windows, Ventilators etc
    85%
  • Railing and Grill fixing
    85%
  • Electrification, Water supply and Sanitary
    85%
No litigation declared4 complaints · 1 openEscrow: HDFC
Credit ratings of the people behind it

No public credit rating located for the promoter.

sipani properties pvt ltd: no public rating located

Complaints & disputes on record
On this project41 open
On the promoter entity9all projects
Court cases declared0no stay recorded
What complainants raise
  • Sipani Properties is denying registration of the apartment that I booked in Sipani Royal H
  • Extra maintenence charges with penalty
  • Delivery date exceeds as per agreement
  • Booking Amount Not Refunded
At a glance
Registration extended 3×

Registration extended 3× — from 2021-09-30 to 2026-09-30

93% built, 0% booked

93% built per the latest filing; 13/6869 homes booked

4 RERA complaints, 1 open

4 RERA complaints on this project (1 open); 9 on the promoter overall

No litigation declared

No litigation declared in RERA filings

The record, in pictures

RERA file · Registration

Registered project cost ₹159 cr — where it goes
Land ₹4.2 cr · 3%Construction & on-site ₹118 cr · 74%Other / taxes ₹36.7 cr · 23%
Construction programme as filed (quarterly filing Q1 2026-27 (submitted 2026-07-24))
201820192020202120222023202420252026Earth work and other leveling preparat100%Foundation footing work100%Retaining wall100%Plinth level Beam100%Sub-structure flooring100%RCC or MS Framed structure99%Masonry construction: Bricks, Concrete95%Plastering inside , outside & Ceiling90%Joinery: Doors, Windows, Ventilators e85%Basic work of Water supply, Sanitary a80%Dadoing, Skirting, Flooring, Tiles wor80%Railing and Grill fixing85%Electrification, Water supply and Sani85%Fire prevention and fire fighting fitt85%Weather Proof work85%Painting80%Internal and External work including l95%today
Bars are the filed schedule; filled part is reported progress. Red = past its scheduled end and not complete.
No litigation declaredBorrowing declared: not statedEscrow at HDFCOwners’ association: formed

Complaint log (K-RERA) · 4 on this project

  • Apr 2025Sipani Properties is denying registration of the apartment that I booked in Sipani Royal Heritageopen
  • Jan 2025Extra maintenence charges with penaltydisposed
  • Jan 2022Delivery date exceeds as per agreementdisposed
  • Jul 2020Booking Amount Not Refundeddisposed
Complaints by status
Open / under enquiry
1
Disposed (Authority)
3

Red flags to resolve in writing

1
Timeline

Registration extended 3 times: original completion 2021-09-30, now 2026-09-30.

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 — 2026-09-30 — 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 line2 sections · 14 items

RERA file · Registration

Registration
PRM/KA/RERA/1251/308/PR/180328/002366 · promoter sipani properties pvt ltd (Company) · EX/PRM/KA/RERA/1251/308/PR/220902/002366
Dates
Start 2017-11-15 · original completion 2021-09-30 · 3 extensions: Covid Extension → 2022-06-30, Section 6 Extension → 2023-06-30, Further Extension → 2026-09-30
Progress
93% complete per quarterly filing Q1 2026-27 (submitted 2026-07-24) · 13 of 6869 homes booked (6856 available)
Registered cost
Total ₹159 cr · land ₹4.17 cr · construction ₹118 cr
RERA bank account
HDFC, kasturba road (70% construction account)
Land & towers
9.74 acres (39,406 sq m) · A WING 98 homes, 14 floors; B wing 98 homes, 14 floors; C Wing 98 homes, 14 floors; D wing 98 homes, 14 floors; E Wing 98 homes, 14 floors; F Wing 98 homes, 14 floors; G wing 98 homes, 14 floors; H wing 98 homes, 14 floors; I wing 98 homes, 14 floors; J wing 98 homes, 14 floors
Litigation declared
None declared in filings
K-RERA complaints
4 on this registration (1 open) · 9 on the promoter entity across all its projects
Owners’ association
Formed
Completion applied
19/12/2020

Source: Karnataka RERA project record PRM/KA/RERA/1251/308/PR/180328/002366, fetched 2026-09-15. Figures are the promoter’s own filings.

Complaint log (K-RERA) · 4 on this project

2025-04-11 · 00621/2025
Sipani Properties is denying registration of the apartment that I booked in Sipani Royal Heritage — UNDER ENQUIRY AUTHORITY BENCH5
2025-01-30 · 00232/2025
Extra maintenence charges with penalty — DISPOSED AUTHORITY BENCH4 (AUTHORITY)
2022-01-19 · CMP/220119/0008828
Delivery date exceeds as per agreement — DISPOSED AUTHORITY BENCH5 (AUTHORITY)
2020-07-01 · CMP/200701/0006099
Booking Amount Not Refunded — DISPOSED AUTHORITY BENCH4 (AUTHORITY)

Complaint subjects are as filed by complainants; a disposed complaint may have been decided either way.

Sources & caveats2 sources
  • Karnataka RERA project record PRM/KA/RERA/1251/308/PR/180328/002366 (registration file, quarterly updates, complaint register), fetched 2026-09-15
  • PropertyLens locality model (market-level estimates)
  • Karnataka RERA project records PRM/KA/RERA/1251/308/PR/180328/002366 (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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