# Azur — Lodha (Macrotech), Bannerghatta Road / JP Nagar / Arekere, Bengaluru

Source: https://property-lens.ai/p/azur-006728 (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: 76/100 (50 = the average analysed Bengaluru project, 12 points = one standard deviation). Evidence confidence 56%.
- Projected price growth: 11.5% per year over 5 years (likely range 8.0%–14.9%); 9.5% per year over 10 years.
- Net-wealth CAGR: 7.4% per year over an 8-year hold with a 75% loan at 8.5%, interiors fitted. Cash-flow IRR: 12.4% (all-cash 11.0%). Gross rental yield: 2.5%.
- Status: under construction, RERA handover 2029-10-30. Type: apartment, luxury segment. Developer: Lodha (Macrotech) (#73 in Bengaluru by RERA registrations).
- Address: Sy. No.s: 328/2(P), 332/2 of Begur village , Begur Hobli,. Homes: 232. Land: 1.05 acres. Launched: 2024.
- RERA registrations: PRM/KA/RERA/1251/310/PR/220324/006728.

## Homes on offer

| Home | Carpet (sq ft) | Super built-up (sq ft) | Price per sq ft | Price | Rent per month |
|---|---|---|---|---|---|
| 2 BHK | 915 | 1,370 | ₹13,800 (assumed) | ₹1.89 Cr | ₹41,500 (assumed) |
| 2 BHK | 969 | 1,455 | ₹13,800 (assumed) | ₹2.01 Cr | ₹43,500 (assumed) |
| 2.5 BHK | 1,109 | 1,665 | ₹13,800 (assumed) | ₹2.30 Cr | ₹48,000 (assumed) |
| 3 BHK | 1,152 | 1,730 | ₹13,800 (assumed) | ₹2.39 Cr | ₹49,500 (assumed) |
| 3.5 BHK | 1,346 | 2,020 | ₹13,800 (assumed) | ₹2.79 Cr | ₹55,500 (assumed) |
| 4 BHK | 1,690 | 2,535 | ₹13,800 (assumed) | ₹3.50 Cr | ₹66,000 (assumed) |
| 4 BHK | 2,325 | 3,490 | ₹13,800 (assumed) | ₹4.82 Cr | ₹89,500 (assumed) |
| 4 BHK | 2,551 | 3,825 | ₹13,800 (assumed) | ₹5.28 Cr | ₹98,000 (assumed) |
| 4 BHK | 2,831 | 4,245 | ₹13,800 (assumed) | ₹5.86 Cr | ₹1,08,500 (assumed) |
| 4 BHK | 3,035 | 4,555 | ₹13,800 (assumed) | ₹6.29 Cr | ₹1,16,500 (assumed) |

## Score factors (this home vs the Bengaluru average)
- Price vs comparables: 5.8/10 (city average 6.2, −0.4 points), confidence 35%. ₹13,800 psf vs luxury comps ₹14,000 (-1%; 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: 6.6/10 (city average 6.0, +1.2 points), confidence 38%. Gross yield 2.6% (₹30 psf/month); locality rental demand 9/10.
- Resale liquidity: 8.9/10 (city average 7.6, +2.4 points), confidence 60%. Locality resale depth 8/10; ticket ₹1.89 Cr narrows the buyer pool; UC resale needs builder NOC; 232-home project; RERA sales pace ratio 2.36.
- Employment access: 7.3/10 (city average 5.2, +4.2 points), confidence 85%. Drive times now (Google Maps, 2026-09-16): Electronic City Ph-1 21 min, Koramangala (Forum) 22 min, ORR Bellandur (Ecospace) 29 min, MG Road (CBD) 34 min; 3 of 7 major hubs within 30 min; 3 msf office pipeline (3 yr).
- Metro, bus, rail & airport: 5.8/10 (city average 4.8, +1.9 points), confidence 60%. Green Line JP Nagar / Yelachenahalli; Pink Line Bannerghatta Road stations ~2027; airport ~102 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: 6.2/10 (city average 3.7, +6.2 points), confidence 60%. Lodha (Macrotech): 7+ projects, on-time 88% (derived); handover 2029-10-30 (RERA); within the RERA timeline, work behind schedule (-22 pts).
- Layout, size, age, amenities, maintenance: 7.6/10 (city average 7.3, +0.3 points), confidence 55%. 220 units/acre; carpet/SBA ~72%; maintenance ~₹6 psf/month (assumed); filed construction cost ₹3,950 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: 4.1/10 (city average 7.4, −6.7 points), confidence 55%. RERA registered; litigation: 1 case(s) declared; approvals: Plan PRJ/14407/23-24IN dated 2024-03-21; title: not verified. Due-diligence report lists 2 red flags (−1.9 pts).
- Expected price growth (5-yr CAGR model): 8.0/10 (city average 6.0, +13.1 points), confidence 56%. Model 5-yr price CAGR 11.5% (range 8.0–14.9%).

## Why prices should grow about 11.5% 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).
- + 2.4%: Add 2.4% for this project itself: unfinished homes are worth more once they are complete.
- = 11.5%: Result: about 11.5% a year, so a home worth ₹1.96 Cr today would be worth about ₹3.37 Cr in 5 years. We are 56% confident in the evidence behind this.

## Returns over 8 years
- Cash put in: ₹1.49 Cr. Exit value in year 8: ₹4.19 Cr. Net sale after loan and costs: ₹2.76 Cr. Net rent after running costs: ₹12.6 L. Loan: ₹1.54 Cr (EMI ₹1.3 L per month). All-in cost: ₹2.35 Cr (other charges ₹6.6 L, GST ₹9.8 L, stamp duty and registration ₹12.9 L, interiors ₹16.4 L).

## Exit plans compared
- Sell at handover, no interiors (4 years): IRR 26.8%, net-wealth CAGR 16.8%, cash in ₹70.7 L, net rent ₹1.2 L, net sale ₹1.53 Cr. Best IRR.
- Hold bare, rent unfurnished (8 years): IRR 14.1%, net-wealth CAGR 8.5%, cash in ₹1.34 Cr, net rent ₹10.1 L, net sale ₹2.72 Cr.
- Hold, do interiors, rent & sell fitted (8 years): IRR 12.4%, net-wealth CAGR 7.4%, cash in ₹1.49 Cr, net rent ₹12.6 L, net sale ₹2.76 Cr.

## Financial and legal due diligence (public record)
Automated from the Karnataka RERA file PRM/KA/RERA/1251/310/PR/220324/006728 and 3 quarterly filings. Prices and rents are locality estimates, not verified listings.

### At a glance
- [POSITIVE] On its original RERA completion date: 2029-10-30
- 20% built per the latest filing; 236/244 homes booked
- [WATCH] 1 RERA complaints on this project (0 open); 1 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: 6/10. 1 court case declared in filings (−1.5); land litigation declared “Yes” on a registration (−1); 1 RERA complaint on the project (−0.5)
- Money to finish: 9/10. finance cost is 0% of the registered budget; last quarter: collected ₹322 cr, withdrew ₹241 cr; 97% of homes booked (+1)
- Developer strength: 9/10. CRISIL AA/Stable (Macrotech Developers)

### Red flags to resolve in writing
1. 1 court case declared in RERA filings (601/2008); check for stays and title impact.
2. Joint-development land: confirm which units fall in the owners’ share.

### Complaints and disputes
- 1 complaints on this project at K-RERA (0 open); 1 on the promoter entity across projects. Subjects raised: Front Loaded Payment Plan.

### Credit ratings
- Macrotech Developers: CRISIL AA / Stable (2025-08)

### 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 — 2029-10-30 — and what is the per-month delay compensation?
4. What do the declared cases (601/2008) 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/220324/006728 · promoter Lodha Developers Limited (Company) · U45200MH1995PLC093041
- Dates: Start 2024-06-01 · original completion 2029-10-30 · no extensions [green]
- Progress: 20% complete per quarterly filing Q1 2026-27 (submitted 2026-07-14) · 236 of 244 homes booked (8 available)
- Registered cost: Total ₹287 cr · construction ₹326 cr
- Borrowing / mortgage declared: Borrowing: No · mortgage: No
- RERA bank account: ICICI Bank, Vittal Mallya Road (70% construction account)
- Money at registration: collected ₹277 cr · spent ₹161 cr · balance ₹116 cr
- Plan sanction: PRJ/14407/23-24IN dated 2024-03-21 · BBMP - Bruhat Bengaluru Mahanagara Palike
- Land & towers: 1.05 acres (4,267 sq m) · B 122 homes, 33 floors; C 122 homes, 33 floors
- Land owners / co-promoters: M/s. Suadela Constructions Pvt. Ltd., (1.0%, Sy Survey No. 332/2); No. of Basement (2%, Sy Total No. of Parking) [amber]
- Litigation declared: yes 601/2008, City Civil Judge — no stay [amber]
- K-RERA complaints: 1 on this registration (0 open) · 1 on the promoter entity across all its projects [amber]
- Owners’ association: Not yet formed
- Completion applied: 19/12/2020

**Complaint log (K-RERA) · 1 on this project**
- 2026-02-10 · 00102/2026: Front Loaded Payment Plan — DISPOSED AUTHORITY FULLBENCH (AUTHORITY)

### Sources and caveats
- Karnataka RERA project record PRM/KA/RERA/1251/310/PR/220324/006728 (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 ₹13,800 per sq ft × 1,370 sq ft; other charges 3.5%; GST 5%; stamp duty + registration 6.6%; loan 75% at 8.5% for 20 years; rent ₹41,500 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/azur-006728.json; printable due-diligence report at https://property-lens.ai/dd/azur-006728.

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