# After The Rain-Phase Iib — Total Environment, Yelahanka / Jakkur / Airport corridor, Bengaluru

Source: https://property-lens.ai/p/after-the-rain-phase-iib-002923 (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: 33/100 (50 = the average analysed Bengaluru project, 12 points = one standard deviation). Evidence confidence 55%.
- Projected price growth: 10.3% per year over 5 years (likely range 6.9%–13.8%); 9.5% per year over 10 years.
- Net-wealth CAGR: 5.9% per year over an 8-year hold with a 75% loan at 8.5%, interiors fitted. Cash-flow IRR: 7.8% (all-cash 8.2%). Gross rental yield: 2.4%.
- Status: under construction, RERA handover 2026-08-01. Type: apartment, luxury segment. Developer: Total Environment (#15 in Bengaluru by RERA registrations).
- Address: "Survey Nos. 226/2, 227/2, 228/1, 228/2, 228/3, 229,230/1,230/2, 230/3,230/4, 230/5, 230/6, 231/2 ,239/2B, 240/1, 240/2, 241, 242/1, 242/2, 245/1, 245/2, 246(P), 353, 355,SIR MVIT COLLEGE ROAD , BETTAHALASURU VILLAGE,JALA HOBLI,BANGALORE NORTH TALUK. Homes: 37. Land: 5.25 acres. Launched: 2019.
- RERA registrations: PRM/KA/RERA/1251/309/PR/191015/002923.

## Homes on offer

| Home | Carpet (sq ft) | Super built-up (sq ft) | Price per sq ft | Price | Rent per month |
|---|---|---|---|---|---|
| 3 BHK | 1,111 | 1,500 | ₹16,800 (assumed) | ₹2.52 Cr | ₹52,500 (assumed) |

## Score factors (this home vs the Bengaluru average)
- Price vs comparables: 5.7/10 (city average 6.2, −0.4 points), confidence 30%. ₹16,800 psf vs luxury comps ₹16,500 (2%; 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: 5.1/10 (city average 6.0, −1.8 points), confidence 34%. Gross yield 2.5% (₹35 psf/month); locality rental demand 7/10.
- Resale liquidity: 5.5/10 (city average 7.6, −3.7 points), confidence 60%. Locality resale depth 7/10; ticket ₹2.52 Cr narrows the buyer pool; UC resale needs builder NOC; 37-home project has thin resale comps; RERA sales pace ratio 0.97.
- Employment access: 3.4/10 (city average 5.2, −3.7 points), confidence 85%. Drive times now (Google Maps, 2026-09-16): Manyata Tech Park 37 min, Hebbal (Kirloskar) 39 min, MG Road (CBD) 57 min, ITPL Whitefield 66 min; 0 of 7 major hubs within 30 min; 14 msf office pipeline (3 yr).
- Metro, bus, rail & airport: 4.7/10 (city average 4.8, −0.1 points), confidence 60%. none operational (Green Line ~9 km); Jakkur Cross / Yelahanka (Blue Line) ~2027; airport ~36 min by road now (Google Maps); .
- Schools, hospitals, daily needs: 7.0/10 (city average 7.0, +0.0 points), confidence 50%. Locality social-infrastructure index (interim, expert-set; POI distances pending Maps integration).
- Builder delivery & handover risk: 1.8/10 (city average 3.7, −5.1 points), confidence 50%. Total Environment: 12+ projects, on-time 45% (assumed); handover 2026-08-01 (RERA); 2 months past the RERA completion date, 2 extensions, work behind schedule (-39 pts).
- Layout, size, age, amenities, maintenance: 9.0/10 (city average 7.3, +2.1 points), confidence 50%. 7 units/acre; carpet/SBA ~72%; maintenance ~₹6 psf/month (assumed).
- Water, flooding, noise, infrastructure: 5.9/10 (city average 5.8, +0.2 points), confidence 50%. Airport flight path; Jakkur aerodrome noise; lake catchments
- Legal, title & approvals: 3.3/10 (city average 7.4, −8.3 points), confidence 55%. RERA registered; litigation: 2 case(s) declared; approvals: RERA registered; title: not verified. Due-diligence report lists 3 red flags (−2.7 pts).
- Expected price growth (5-yr CAGR model): 6.6/10 (city average 6.0, +3.9 points), confidence 56%. Model 5-yr price CAGR 10.3% (range 6.9–13.8%).

## Why prices should grow about 10.3% a year
- + 6.0%: Start with 6.0% a year: the normal long-run growth of Bengaluru home prices.
- + 1.3%: Add 1.3%: prices here rose 14.5% a year recently (2023-06 to 2026-06). Some of that pace continues, but it fades each year.
- − 0.7%: Subtract 0.7%: at ₹16,800 per sq ft, fewer families can afford to buy here, which slows further rises.
- + 2.7%: Add 2.7%: 14 million sq ft of new offices nearby means more people wanting homes here.
- + 0.0%: Supply and demand are balanced here (18 months of unsold stock).
- + 0.2%: Add 0.2% for new roads, metro and water lines, weighted by how likely they are to actually finish: Blue Line KR Puram–Hebbal–Airport (construction, 2027); Satellite Town Ring Road (construction, 2028).
- + 0.9%: Add 0.9% for this project itself: unfinished homes are worth more once they are complete.
- = 10.3%: Result: about 10.3% a year, so a home worth ₹2.61 Cr today would be worth about ₹4.27 Cr in 5 years. We are 56% confident in the evidence behind this.

## Returns over 8 years
- Cash put in: ₹2.28 Cr. Exit value in year 8: ₹5.47 Cr. Net sale after loan and costs: ₹3.78 Cr. Net rent after running costs: ₹31.2 L. Loan: ₹2.05 Cr (EMI ₹1.8 L per month). All-in cost: ₹3.09 Cr (other charges ₹8.8 L, GST ₹13.0 L, stamp duty and registration ₹17.2 L, interiors ₹18.0 L).

## Exit plans compared
- Sell at handover, no interiors (1 years): IRR -13.2%, net-wealth CAGR -13.2%, cash in ₹86.7 L, net rent ₹1.3 L, net sale ₹95.4 L.
- Hold bare, rent unfurnished (8 years): IRR 9.1%, net-wealth CAGR 6.6%, cash in ₹2.15 Cr, net rent ₹25.6 L, net sale ₹3.76 Cr. Best IRR.
- Hold, do interiors, rent & sell fitted (8 years): IRR 7.8%, net-wealth CAGR 5.9%, cash in ₹2.28 Cr, net rent ₹31.2 L, net sale ₹3.78 Cr.

## Financial and legal due diligence (public record)
Automated from the Karnataka RERA file PRM/KA/RERA/1251/309/PR/191015/002923 and 3 quarterly filings. Prices and rents are locality estimates, not verified listings.

### At a glance
- [RED FLAG] Registration extended 2× — from 2024-11-01 to 2026-08-01 (already passed)
- 61% built per the latest filing; 36/37 homes booked
- [WATCH] 1 RERA complaints on this project; 14 on the promoter overall
- [WATCH] 2 court cases declared in RERA filings (no stay recorded)

### Risk meters (rule-based)
- Delivery timeline: 3/10. 2 extensions on the registration (−4); a registration completion date has already passed (−2)
- Legal & complaints: 5.5/10. 2 court cases declared in filings (−3); 1 RERA complaint on the project (−0.5)
- Money to finish: 9/10. finance cost is 0% of the registered budget; last quarter: collected ₹5.10 cr, withdrew ₹5.10 cr; 97% of homes booked (+1)
- Developer strength: 5/10. CRISIL BBB-/Stable (Total Environment Building Systems)

### Red flags to resolve in writing
1. Registration extended 2 times: original completion 2024-11-01, now 2026-08-01.
2. RERA completion date 2026-08-01 has passed without a completion application.
3. 2 court cases declared in RERA filings (WP Nos, 23101/2022, 23102/2022, 23103/2022, 23020/2022, 23097/2022, 23059/2022, 23037/2022, 23106/2022 22858/2022, 23811/2022, 23826/2022,/2022, WP 15729/2024/2024); check for stays and title impact.

### Complaints and disputes
- 1 complaints on this project at K-RERA (null open); 14 on the promoter entity across projects.

### Credit ratings
- Total Environment Building Systems: CRISIL BBB- / Stable (2026-05)

### 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 — 2026-08-01 — and what is the per-month delay compensation?
4. What do the declared cases (WP Nos, 23101/2022, 23102/2022, 23103/2022, 23020/2022, 23097/2022, 23059/2022, 23037/2022, 23106/2022 22858/2022, 23811/2022, 23826/2022,/2022, WP 15729/2024/2024) 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/1251/309/PR/191015/002923 · promoter Total Environment Building Systems Private Limited (Company) · EX/PRM/KA/RERA/1251/309/PR/250711/002923
- Dates: Start 2019-11-01 · original completion 2024-11-01 · 2 extensions: Covid Extension → 2025-08-01, Section 6 Extension → 2026-08-01 · current date has passed [red]
- Progress: 61% complete per quarterly filing Q1 2026-27 (submitted 2026-07-15) · 36 of 37 homes booked (1 available)
- Registered cost: Total ₹160 cr · land ₹44.72 cr · construction ₹115 cr
- RERA bank account: Axis Bank, M G Road (70% construction account)
- Land & towers: 5.25 acres (21,246 sq m) · BLOCK 23 5 homes, 1 floors; BLOCK 24 8 homes, 1 floors; BLOCK 25 8 homes, 1 floors; BLOCK 26 6 homes, 1 floors; BLOCK 27 10 homes, 1 floors
- Litigation declared: Writ Petition WP Nos, 23101/2022, 23102/2022, 23103/2022, 23020/2022, 23097/2022, 23059/2022, 23037/2022, 23106/2022 22858/2022, 23811/2022, 23826/2022,/2022, High Court of Karnataka — no stay; Writ Petition WP 15729/2024/2024, High Court of Karnataka — no stay [amber]
- K-RERA complaints: 1 on this registration · 14 on the promoter entity across all its projects [amber]
- Owners’ association: Not yet formed
- Completion applied: 19/12/2020

### Sources and caveats
- Karnataka RERA project record PRM/KA/RERA/1251/309/PR/191015/002923 (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 ₹16,800 per sq ft × 1,500 sq ft; other charges 3.5%; GST 5%; stamp duty + registration 6.6%; loan 75% at 8.5% for 20 years; rent ₹52,500 per month growing 5.0% a year with 5% vacancy; maintenance ₹6 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/after-the-rain-phase-iib-002923.json; printable due-diligence report at https://property-lens.ai/dd/after-the-rain-phase-iib-002923.

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