# ADARSH LAKE RESERVA Phase 1 — Adarsh Developers, Bannerghatta Road / JP Nagar / Arekere, Bengaluru

Source: https://property-lens.ai/p/adarsh-lake-reserva-phase-1-005639 (PropertyLens). Analysis generated 2026-10-18 from Karnataka RERA filings, quarterly promoter updates, public ratings and dated locality evidence. Figures marked "assumed" are model estimates that visitors can edit on the page; "observed" figures come from a named source.

## Summary
- Investment score: 55/100 (50 = the average analysed Bengaluru project, 12 points = one standard deviation). Evidence confidence 56%.
- Projected price growth: 10.9% per year over 5 years (likely range 7.4%–14.4%); 9.2% per year over 10 years.
- Net-wealth CAGR: 6.4% per year over an 8-year hold with a 75% loan at 8.5%, interiors fitted. Cash-flow IRR: 9.4% (all-cash 9.4%). Gross rental yield: 3.1%.
- Status: under construction, RERA handover 2027-12-31. Type: apartment, premium segment. Developer: Adarsh Developers (#21 in Bengaluru by RERA registrations).
- Address: ADARSH STRATUSS PHASE 1, KHATA NO.1224,SURVEY NO 18 / 2A / 1, SARAKKIKERE VILLAGE. Homes: 162. Land: 5.3 acres. Launched: 2023.
- RERA registrations: PRM/KA/RERA/1251/310/PR/200123/005639.

## Homes on offer

| Home | Carpet (sq ft) | Super built-up (sq ft) | Price per sq ft | Price | Rent per month |
|---|---|---|---|---|---|
| 2 BHK | 893 | 1,270 | ₹10,350 (assumed) | ₹1.31 Cr | ₹35,500 (assumed) |
| 3 BHK | 1,292 | 1,835 | ₹10,350 (assumed) | ₹1.90 Cr | ₹47,000 (assumed) |

## Score factors (this home vs the Bengaluru average)
- Price vs comparables: 5.9/10 (city average 6.2, −0.2 points), confidence 35%. ₹10,350 psf vs premium comps ₹11,000 (-6%; under-construction should price ~8% below ready). Price is a model estimate, so this factor carries a third of its normal weight until a listed price is observed.
- Rental demand & yield: 5.9/10 (city average 6.0, −0.1 points), confidence 38%. Gross yield 3.2% (₹28 psf/month); locality rental demand 9/10.
- Resale liquidity: 7.0/10 (city average 7.6, −1.1 points), confidence 60%. Locality resale depth 8/10; ticket ₹1.31 Cr narrows the buyer pool; UC resale needs builder NOC; 162-home project; RERA sales pace ratio 0.
- Employment access: 7.3/10 (city average 5.2, +4.2 points), confidence 85%. Drive times now (Google Maps, 2026-09-16): Koramangala (Forum) 18 min, Electronic City Ph-1 28 min, MG Road (CBD) 29 min, ORR Bellandur (Ecospace) 31 min; 3 of 7 major hubs within 30 min; 3 msf office pipeline (3 yr).
- Metro, bus, rail & airport: 5.9/10 (city average 4.8, +2.0 points), confidence 60%. Green Line JP Nagar / Yelachenahalli; Pink Line Bannerghatta Road stations ~2027; airport ~99 min by road now (Google Maps); .
- Schools, hospitals, daily needs: 8.5/10 (city average 7.0, +1.6 points), confidence 50%. Locality social-infrastructure index (interim, expert-set; POI distances pending Maps integration).
- Builder delivery & handover risk: 0.6/10 (city average 3.7, −8.0 points), confidence 60%. Adarsh Developers: 17+ projects, on-time 39% (derived); handover 2027-12-31 (RERA); within the RERA timeline, work behind schedule (-73 pts).
- Layout, size, age, amenities, maintenance: 9.0/10 (city average 7.3, +2.1 points), confidence 55%. 31 units/acre; carpet/SBA ~72%; maintenance ~₹4.5 psf/month (assumed); filed construction cost ₹7,763 per sq ft (premium spec).
- Water, flooding, noise, infrastructure: 6.8/10 (city average 5.8, +2.1 points), confidence 50%. Bannerghatta Road congestion; good BWSSB coverage in JP Nagar
- Legal, title & approvals: 4.4/10 (city average 7.4, −6.1 points), confidence 55%. RERA registered; litigation: 1 case(s) declared; approvals: Plan BBMP/Addl.Dir/JDSOUTH/1013/20-21 dated 2021-08-07; title: not verified. Due-diligence report lists 2 red flags (−1.6 pts).
- Expected price growth (5-yr CAGR model): 7.3/10 (city average 6.0, +8.4 points), confidence 56%. Model 5-yr price CAGR 10.9% (range 7.4–14.4%).

## Why prices should grow about 10.9% a year
- + 6.0%: Start with 6.0% a year: the normal long-run growth of Bengaluru home prices.
- + 0.9%: Add 0.9%: prices here rose 11.9% a year recently (2023-06 to 2026-06). Some of that pace continues, but it fades each year.
- + 0.0%: Prices are still affordable enough that this does not slow growth.
- + 1.2%: Add 1.2%: 3 million sq ft of new offices nearby means more people wanting homes here.
- + 0.9%: Add 0.9%: few unsold homes in the area (9 months of stock), so sellers have the upper hand.
- + 0.2%: Add 0.2% for new roads, metro and water lines, weighted by how likely they are to actually finish: Pink Line Kalena Agrahara–Nagawara (construction, 2027); Phase 3 (Orange/Red lines: JP Nagar–Kempapura, Hosahalli–Kadabagere) (construction, 2029).
- + 1.8%: Add 1.8% for this project itself: unfinished homes are worth more once they are complete.
- = 10.9%: Result: about 10.9% a year, so a home worth ₹1.36 Cr today would be worth about ₹2.28 Cr in 5 years. We are 56% confident in the evidence behind this.

## Returns over 8 years
- Cash put in: ₹1.11 Cr. Exit value in year 8: ₹2.84 Cr. Net sale after loan and costs: ₹1.90 Cr. Net rent after running costs: ₹18.3 L. Loan: ₹1.07 Cr (EMI ₹0.9 L per month). All-in cost: ₹1.67 Cr (other charges ₹4.6 L, GST ₹6.8 L, stamp duty and registration ₹9.0 L, interiors ₹15.2 L).

## Exit plans compared
- Sell at handover, no interiors (2 years): IRR 34.1%, net-wealth CAGR 23.6%, cash in ₹32.1 L, net rent ₹0.7 L, net sale ₹71.4 L. Best IRR.
- Hold bare, rent unfurnished (8 years): IRR 11.8%, net-wealth CAGR 7.8%, cash in ₹98.6 L, net rent ₹15.2 L, net sale ₹1.88 Cr.
- Hold, do interiors, rent & sell fitted (8 years): IRR 9.4%, net-wealth CAGR 6.4%, cash in ₹1.11 Cr, net rent ₹18.3 L, net sale ₹1.90 Cr.

## Financial and legal due diligence (public record)
Automated from the Karnataka RERA file PRM/KA/RERA/1251/310/PR/200123/005639 and 3 quarterly filings. Prices and rents are locality estimates, not verified listings.

### At a glance
- [POSITIVE] On its original RERA completion date: 2027-12-31
- 0% built per the latest filing; 0/162 homes booked
- [WATCH] No RERA complaints on this project; 24 on the promoter overall
- [WATCH] 1 court case declared in RERA filings (no stay recorded)

### Risk meters (rule-based)
- Delivery timeline: 9/10. no extensions, no overdue dates on the RERA file
- Legal & complaints: 7.5/10. 1 court case declared in filings (−1.5)
- Money to finish: 6/10. finance cost is 0% of the registered budget; last quarter withdrew ₹1.10 cr against ₹0.00 cr collected (−1); only 0% of homes booked (−1)
- Developer strength: 5/10. no public credit rating for the promoter

### Red flags to resolve in writing
1. 1 court case declared in RERA filings (O S No. 7245/2022/2022); check for stays and title impact.
2. Joint-development land: confirm which units fall in the owners’ share.

### Complaints and disputes
- 0 complaints on this project at K-RERA (null open); 24 on the promoter entity across projects.

### Credit ratings
- M/s Adarsh Developers: no public rating located

### Questions to put to the developer
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 — 2027-12-31 — and what is the per-month delay compensation?
4. What do the declared cases (O S No. 7245/2022/2022) concern and is any stay in force?
5. What is the land owners’ share of built area and is the unit in the developer’s share?

### Filed record
**RERA file · Registration**
- Registration: PRM/KA/RERA/1251/310/PR/200123/005639 · promoter M/s Adarsh Developers (Partnership Firm) · IN KA518752212899943K
- Dates: Start 2023-03-01 · original completion 2027-12-31 · no extensions [green]
- Progress: 0% complete per quarterly filing Q1 2026-27 (submitted 2026-07-15) · 0 of 162 homes booked (162 available)
- Registered cost: Total ₹190 cr · construction ₹185 cr
- Borrowing / mortgage declared: Borrowing: Yes · mortgage: Yes
- RERA bank account: HDFC, BENGALURU - RICHMOND ROAD (70% construction account)
- Plan sanction: BBMP/Addl.Dir/JDSOUTH/1013/20-21 dated 2021-08-07 · BBMP - Bruhat Bengaluru Mahanagara Palike
- Land & towers: 5.30 acres (21,463 sq m) · Block A 79 homes, 26 floors; Block B 83 homes, 26 floors
- Land owners / co-promoters: B M Karunesh (100.0%, Sy 32/1); B M Karunesh (100.0%, Sy 32/2 , 32/4) [amber]
- Litigation declared: njunction Suit, Appeal filed opposite party against the Dismissal of their suit and rejection of katha before DC O S No. 7245/2022/2022, City Civil Judge at Bangalore — no stay [amber]
- K-RERA complaints: 0 on this registration · 24 on the promoter entity across all its projects [green]
- Owners’ association: Not yet formed
- Completion applied: 19/12/2020

### Sources and caveats
- Karnataka RERA project record PRM/KA/RERA/1251/310/PR/200123/005639 (registration file, quarterly updates, complaint register), fetched 2026-09-15
- PropertyLens locality model (market-level estimates)
- 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.

## Assumptions used
- Price ₹10,350 per sq ft × 1,270 sq ft; other charges 3.5%; GST 5%; stamp duty + registration 6.6%; loan 75% at 8.5% for 20 years; rent ₹35,500 per month growing 5.0% a year with 5% vacancy; maintenance ₹4.5 per sq ft per month; hold 8 years; selling costs 1.5%.

Related: index of all analysed projects at https://property-lens.ai/llms.txt; JSON for this project at https://property-lens.ai/data/p/adarsh-lake-reserva-phase-1-005639.json; printable due-diligence report at https://property-lens.ai/dd/adarsh-lake-reserva-phase-1-005639.

PropertyLens scores and projections are model outputs built from dated public evidence and stated assumptions; they are not investment advice.