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

Varnam Phase 1C

Phoenix Mills · Devanahalli / Airport Road / Bagalur · Sy. No. 1(P) & 37/2(P) of JODIAKKALENA HALLI - MALLENA HALLIVILLAGE , KASABA HOBLI ,Devanahalli , Bengaluru Rural,Karnataka - 562129

Promoter entityONE BANGALORE LUXURY PROJECTS LLP
Entity type · PANPartnership Firm · AAEFO5442Q
Developer brandPhoenix Mills · #32 in Bengaluru by RERA registrations
RERA registrationsRegistration: PRM/KA/RERA/1250/303/PR/110825/007990
Planning authorityBIAPPA - Bangalore Airport Area Planning Authority
Sanctioned planBIAAPA/TP/CC/331/2024-25/25-26/888 · 2025-06-25
Escrow bankICICI Bank, Residency Road
Land3.51 acres · 7 land owners on record
Court cases declared0
Complaints at K-RERA0 on this project · 0 on the promoter
Record fetchedSep 2026
0 red flags1 to watch6 positive

Automated from the Karnataka RERA file PRM/KA/RERA/1250/303/PR/110825/007990 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/1250/303/PR/110825/007990 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 red1 watch6 positive
Delivery timeline9/10
no extensions, no overdue dates on the RERA file
Legal & complaints9/10
no litigation and no complaints on the RERA file
Money to finish8/10
finance cost is 1% of the registered budget; last quarter withdrew ₹125 cr against ₹51.09 cr collected (−1); 88% 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/1250/303/PR/110825/007990 · ONE BANGALORE LUXURY PROJECTS LLP
On original date
RegisteredAug 2025TodaySep 2026Original completionMar 2031
Construction9%
quarterly filing Q1 2026-27 (submitted 2026-07-15)
Homes booked262 / 298
36 still available
Sold vs built88% vs 9%
Buyers are well ahead of construction: most money is in, delivery risk sits with the developer.
Money through the RERA account
Collected ₹45.31 CrWithdrawn ₹82.07 CrQ3 2025-2645.31 Cr82.07 CrCollected ₹48.43 CrWithdrawn ₹70.76 CrQ4 2025-2648.43 Cr70.76 CrCollected ₹51.09 CrWithdrawn ₹125.37 CrQ1 2026-2751.09 Cr125.37 Cr
Collected from buyersWithdrawn for construction
Latest milestones
  • Upto Plinth Level
    0%
  • Sub-structure flooring
    0%
  • Retaining wall
    0%
  • RCC or MS Framed structure
    0%
  • Masonry Construction
    0%
  • Plastering inside , outside & Ceiling
    0%
No litigation declaredNo complaintsNBFC finance 1% of budgetEscrow: ICICI BankJoint-development land
Credit ratings of the people behind it

No public credit rating located for the promoter.

ONE BANGALORE LUXURY PROJECTS LLP: no public rating located

Complaints & disputes on record
On this project00 open
On the promoter entity0all projects
Court cases declared0no stay recorded
At a glance
On its original RERA date

On its original RERA completion date: 2031-03-31

9% built, 88% booked

9% built per the latest filing; 262/298 homes booked

No complaints on this project

No RERA complaints on this project; 0 on the promoter overall

No litigation declared

No litigation declared in RERA filings

The record, in pictures

RERA file · Registration

Registered project cost ₹375 cr — where it goes
Land ₹0 cr · 0%Approvals ₹3.3 cr · 1%Construction & on-site ₹324.9 cr · 87%Finance (NBFC) ₹3.4 cr · 1%Other / taxes ₹43.3 cr · 12%
Construction programme as filed (quarterly filing Q1 2026-27 (submitted 2026-07-15))
202620272028202920302031Earth work and other leveling preparat100%Foundation footing work50%Upto Plinth Level0%Sub-structure flooring0%Retaining wall0%RCC or MS Framed structure0%Masonry Construction0%Plastering inside , outside & Ceiling0%Joinery: Doors, Windows, Ventilators e0%Basic work of Water supply, Sanitary a0%Dadoing, Skirting, Flooring, Tiles wor0%Railing and Grill fixing0%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: YesEscrow at ICICI Bank7 recorded land-owner sharesOwners’ 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 — 2031-03-31 — 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/1250/303/PR/110825/007990 · promoter ONE BANGALORE LUXURY PROJECTS LLP (Partnership Firm) · AAE 8922
Dates
Start 2025-08-15 · original completion 2031-03-31 · no extensions
Progress
9% complete per quarterly filing Q1 2026-27 (submitted 2026-07-15) · 262 of 298 homes booked (36 available)
Registered cost
Total ₹375 cr · land ₹0.00 cr · construction ₹325 cr · NBFC principal+interest ₹3.43 cr (1%)
Borrowing / mortgage declared
Borrowing: Yes
RERA bank account
ICICI Bank, Residency Road (70% construction account)
Plan sanction
BIAAPA/TP/CC/331/2024-25/25-26/888 dated 2025-06-25 · BIAPPA - Bangalore Airport Area Planning Authority
Land & towers
3.51 acres (14,211 sq m) · T24 75 homes, 12 floors; T25 75 homes, 12 floors; T26 74 homes, 12 floors; T27 74 homes, 12 floors
Land owners / co-promoters
MS Ramaiah Realty LLP (5.1%, Sy 2/2); MS Ramaiah Realty LLP (5.1%, Sy 7/P); MS Ramaiah Realty LLP (5.1%, Sy 37/1); MS Ramaiah Realty LLP (5.1%, Sy 37/2); MS Ramaiah Realty LLP (5.1%, Sy 37/4); MS Ramaiah Realty LLP (5.1%, Sy 37/7); MS Ramaiah Realty LLP (5.1%, Sy 37/10)
Litigation declared
None declared in filings
K-RERA complaints
0 on this registration (0 open) · 0 on the promoter entity across all its projects (a project-specific LLP; group-level complaints sit under other entities)
Owners’ association
Not yet formed
Completion applied
19/12/2020

Source: Karnataka RERA project record PRM/KA/RERA/1250/303/PR/110825/007990, fetched 2026-09-15. Figures are the promoter’s own filings.

Sources & caveats2 sources
  • Karnataka RERA project record PRM/KA/RERA/1250/303/PR/110825/007990 (registration file, quarterly updates, complaint register), fetched 2026-09-15
  • PropertyLens locality model (market-level estimates)
  • Karnataka RERA project records PRM/KA/RERA/1250/303/PR/110825/007990 (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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