# Adarsh Premia - Phase 1 — Adarsh Developers, Jayanagar / Basavanagudi / Banashankari, Bengaluru

Source: https://property-lens.ai/p/adarsh-premia-phase-1-000155 (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: 47/100 (50 = the average analysed Bengaluru project, 12 points = one standard deviation). Evidence confidence 56%.
- Projected price growth: 9.2% per year over 5 years (likely range 5.8%–12.7%); 8.4% per year over 10 years.
- Net-wealth CAGR: 4.7% per year over an 8-year hold with a 75% loan at 8.5%, interiors fitted. Cash-flow IRR: 6.8% (all-cash 8.1%). Gross rental yield: 2.5%.
- Status: under construction, RERA handover 2027-03-31. Type: apartment, premium segment. Developer: Adarsh Developers (#21 in Bengaluru by RERA registrations).
- Address: Ward No.55, Municiple No.3(Old No 52/1A, 56/2,57 & 53,), No 3, Kadirenahalli, Outer ring road, Banashankari,. Homes: 330. Land: 3.93 acres. Launched: 2013.
- RERA registrations: PRM/KA/RERA/1251/310/PR/170915/000155.

## Homes on offer

| Home | Carpet (sq ft) | Super built-up (sq ft) | Price per sq ft | Price | Rent per month |
|---|---|---|---|---|---|
| 3 BHK | 1,507 | 2,140 | ₹15,050 (assumed) | ₹3.22 Cr | ₹69,000 (assumed) |
| 3 BHK | 1,539 | 2,185 | ₹15,050 (assumed) | ₹3.29 Cr | ₹70,000 (assumed) |
| 4 BHK | 2,250 | 3,195 | ₹15,050 (assumed) | ₹4.81 Cr | ₹97,000 (assumed) |

## Score factors (this home vs the Bengaluru average)
- Price vs comparables: 5.8/10 (city average 6.2, −0.3 points), confidence 35%. ₹15,050 psf vs premium comps ₹15,500 (-3%; 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: 5.4/10 (city average 6.0, −1.1 points), confidence 38%. Gross yield 2.6% (₹32 psf/month); locality rental demand 9/10.
- Resale liquidity: 7.4/10 (city average 7.6, −0.3 points), confidence 60%. Locality resale depth 9/10; ticket ₹3.22 Cr narrows the buyer pool; UC resale needs builder NOC; 330-home project gives deep resale comps; RERA sales pace ratio 0.52.
- Employment access: 8.2/10 (city average 5.2, +6.1 points), confidence 85%. Drive times now (Google Maps, 2026-09-16): Koramangala (Forum) 19 min, MG Road (CBD) 24 min, ORR Bellandur (Ecospace) 37 min, Electronic City Ph-1 39 min; 2 of 7 major hubs within 30 min; 2 msf office pipeline (3 yr).
- Metro, bus, rail & airport: 7.0/10 (city average 4.8, +4.1 points), confidence 60%. Green Line Jayanagar / Banashankari; Yellow Line RV Road; no planned station within 2 km; airport ~94 min by road now (Google Maps); .
- Schools, hospitals, daily needs: 9.5/10 (city average 7.0, +2.6 points), confidence 50%. Locality social-infrastructure index (interim, expert-set; POI distances pending Maps integration).
- Builder delivery & handover risk: 2.8/10 (city average 3.7, −2.4 points), confidence 60%. Adarsh Developers: 17+ projects, on-time 39% (derived); handover 2027-03-31 (RERA); within the RERA timeline, 2 extensions, work on schedule (-16 pts).
- Layout, size, age, amenities, maintenance: 7.4/10 (city average 7.3, +0.0 points), confidence 55%. 84 units/acre; carpet/SBA ~72%; maintenance ~₹4.5 psf/month (assumed); filed construction cost ₹3,938 per sq ft (premium spec).
- Water, flooding, noise, infrastructure: 7.8/10 (city average 5.8, +4.0 points), confidence 50%. Mature, well-serviced
- Legal, title & approvals: 2.1/10 (city average 7.4, −10.8 points), confidence 55%. RERA registered; litigation: 1 case(s) declared; approvals: RERA registered; title: not verified. Due-diligence report lists 3 red flags (−3.9 pts).
- Expected price growth (5-yr CAGR model): 5.1/10 (city average 6.0, −5.3 points), confidence 56%. Model 5-yr price CAGR 9.2% (range 5.8–12.7%).

## Why prices should grow about 9.2% 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.
- − 0.2%: Subtract 0.2%: at ₹15,050 per sq ft, fewer families can afford to buy here, which slows further rises.
- + 1.3%: Add 1.3%: 2 million sq ft of new offices nearby means more people wanting homes here.
- + 0.9%: Add 0.9%: few unsold homes in the area (11 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: Yellow Line RV Road–Bommasandra (opened Aug 2025) (operational, 2025); Phase 3 (Orange/Red lines: JP Nagar–Kempapura, Hosahalli–Kadabagere) (construction, 2029).
- + 0.2%: Add 0.2% for this project itself: unfinished homes are worth more once they are complete.
- = 9.2%: Result: about 9.2% a year, so a home worth ₹3.33 Cr today would be worth about ₹5.18 Cr in 5 years. We are 56% confident in the evidence behind this.

## Returns over 8 years
- Cash put in: ₹2.78 Cr. Exit value in year 8: ₹6.47 Cr. Net sale after loan and costs: ₹4.23 Cr. Net rent after running costs: ₹41.4 L. Loan: ₹2.63 Cr (EMI ₹2.3 L per month). All-in cost: ₹3.98 Cr (other charges ₹11.3 L, GST ₹16.7 L, stamp duty and registration ₹22.0 L, interiors ₹25.7 L).

## Exit plans compared
- Sell at handover, no interiors (1 years): IRR -48.6%, net-wealth CAGR -48.6%, cash in ₹32.1 L, net rent ₹0.0 L, net sale ₹1.07 Cr.
- Hold bare, rent unfurnished (8 years): IRR 8.2%, net-wealth CAGR 5.6%, cash in ₹2.58 Cr, net rent ₹34.4 L, net sale ₹4.20 Cr. Best IRR.
- Hold, do interiors, rent & sell fitted (8 years): IRR 6.8%, net-wealth CAGR 4.7%, cash in ₹2.78 Cr, net rent ₹41.4 L, net sale ₹4.23 Cr.

## Financial and legal due diligence (public record)
Automated from the Karnataka RERA file PRM/KA/RERA/1251/310/PR/170915/000155 and 3 quarterly filings. Prices and rents are locality estimates, not verified listings.

### At a glance
- [WATCH] Registration extended 2× — from 2020-06-30 to 2027-03-31
- 84% built per the latest filing; 171/330 homes booked
- [RED FLAG] 9 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: 5/10. 2 extensions on the registration (−4)
- Legal & complaints: 4.5/10. 1 court case declared in filings (−1.5); 9 RERA complaints on the project (−3)
- Money to finish: 8/10. finance cost is 0% of the registered budget; last quarter: collected ₹324 cr, withdrew ₹392 cr
- Developer strength: 5/10. no public credit rating for the promoter

### Red flags to resolve in writing
1. Registration extended 2 times: original completion 2020-06-30, now 2027-03-31.
2. 1 court case declared in RERA filings (O S No. 7061/2023/2023); check for stays and title impact.
3. 9 K-RERA complaints on this registration.

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

### Credit ratings
- 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 — 2027-03-31 — and what is the per-month delay compensation?
4. What do the declared cases (O S No. 7061/2023/2023) concern and is any stay in force?
5. Is the land freehold with the developer, and is any part mortgaged?

### Filed record
**RERA file · Registration**
- Registration: PRM/KA/RERA/1251/310/PR/170915/000155 · promoter Adarsh Developers (Partnership Firm) · EX/PRM/KA/RERA/1251/310/PR/201125/000155
- Dates: Start 2013-11-15 · original completion 2020-06-30 · 2 extensions: Section 6 Extension → 2021-12-30, Further Extension → 2027-03-31 [amber]
- Progress: 84% complete per quarterly filing Q1 2026-27 (submitted 2026-07-15) · 171 of 330 homes booked (159 available)
- Registered cost: Total ₹311 cr · land ₹109 cr · construction ₹202 cr
- RERA bank account: LAKSHMI VILAS BANK, Bengaluru Main (70% construction account)
- Money at registration: collected ₹75.31 cr · used ₹122 cr · balance ₹0.00 cr · delay declared: Yes (Awaiting modified plan approval with TDR)
- Land & towers: 3.93 acres (15,884 sq m) · A 46 homes, 23 floors; B 92 homes, 23 floors; C 96 homes, 23 floors; D 96 homes, 23 floors
- Litigation declared: suit for partition O S No. 7061/2023/2023, City Civil Court Bangalore — no stay [amber]
- K-RERA complaints: 9 on this registration · 24 on the promoter entity across all its projects [red]
- Owners’ association: Not yet formed
- Completion applied: 19/12/2020

### Sources and caveats
- Karnataka RERA project record PRM/KA/RERA/1251/310/PR/170915/000155 (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 ₹15,050 per sq ft × 2,140 sq ft; other charges 3.5%; GST 5%; stamp duty + registration 6.6%; loan 75% at 8.5% for 20 years; rent ₹69,000 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-premia-phase-1-000155.json; printable due-diligence report at https://property-lens.ai/dd/adarsh-premia-phase-1-000155.

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