# Bhartiya Garden Estate Phase-3 — Bhartiya City, Devanahalli / Airport Road / Bagalur, Bengaluru

Source: https://property-lens.ai/p/bhartiya-garden-estate-phase-3-008065 (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: 60/100 (50 = the average analysed Bengaluru project, 12 points = one standard deviation). Evidence confidence 56%.
- Projected price growth: 11.2% per year over 5 years (likely range 7.7%–14.6%); 9.8% per year over 10 years.
- Net-wealth CAGR: 6.7% per year over an 8-year hold with a 75% loan at 8.5%, interiors fitted. Cash-flow IRR: 12.3% (all-cash 11.0%). Gross rental yield: 2.9%.
- Status: under construction, RERA handover 2031-08-31. Type: apartment, premium segment. Developer: Bhartiya City (#24 in Bengaluru by RERA registrations).
- Address: Bhartiya City, Thannisandra Main Road, Chokkanahalli, Bengaluru. Homes: 543. Land: 28.6 acres. Launched: 2025.
- RERA registrations: PRM/KA/RERA/1251/309/PR/060925/008065.

## Homes on offer

| Home | Carpet (sq ft) | Super built-up (sq ft) | Price per sq ft | Price | Rent per month |
|---|---|---|---|---|---|
| Residential - Apartments | 959 | 1,360 | ₹8,000 (assumed) | ₹1.09 Cr | ₹27,000 (assumed) |

## Score factors (this home vs the Bengaluru average)
- Price vs comparables: 5.9/10 (city average 6.2, −0.2 points), confidence 35%. ₹8,000 psf vs premium comps ₹8,500 (-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: 6.2/10 (city average 6.0, +0.5 points), confidence 38%. Gross yield 3.0% (₹20 psf/month); locality rental demand 6/10.
- Resale liquidity: 8.2/10 (city average 7.6, +1.1 points), confidence 60%. Locality resale depth 6/10; ticket ₹1.09 Cr narrows the buyer pool; UC resale needs builder NOC; 543-home project gives deep resale comps; RERA sales pace ratio 2.97.
- Employment access: 1.5/10 (city average 5.2, −7.6 points), confidence 85%. Drive times now (Google Maps, 2026-09-16): Manyata Tech Park 49 min, Hebbal (Kirloskar) 53 min, MG Road (CBD) 69 min, ITPL Whitefield 71 min; 0 of 7 major hubs within 30 min; 15 msf office pipeline (3 yr).
- Metro, bus, rail & airport: 4.3/10 (city average 4.8, −0.8 points), confidence 60%. none; Blue Line airport terminal station under construction; Airport City (Blue Line) ~2027; airport ~23 min by road now (Google Maps); .
- Schools, hospitals, daily needs: 5.0/10 (city average 7.0, −2.0 points), confidence 50%. Locality social-infrastructure index (interim, expert-set; POI distances pending Maps integration).
- Builder delivery & handover risk: 5.4/10 (city average 3.7, +4.3 points), confidence 60%. Bhartiya City: 15+ projects, on-time 77% (derived); handover 2031-08-31 (RERA); within the RERA timeline, work on schedule (25 pts).
- Layout, size, age, amenities, maintenance: 9.8/10 (city average 7.3, +3.1 points), confidence 55%. 19 units/acre; carpet/SBA ~72%; maintenance ~₹4.5 psf/month (assumed); filed construction cost ₹7,255 per sq ft (premium spec).
- Water, flooding, noise, infrastructure: 5.8/10 (city average 5.8, −0.1 points), confidence 50%. Plotted-development heavy; social infrastructure still thin
- Legal, title & approvals: 7.7/10 (city average 7.4, +0.6 points), confidence 55%. RERA registered; litigation: none reported; approvals: Plan BIAAPA/TP/CC/219/2025-26 dated 2025-08-06; title: not verified. Due-diligence report lists 1 red flag (−0.8 pts).
- Expected price growth (5-yr CAGR model): 7.6/10 (city average 6.0, +10.6 points), confidence 56%. Model 5-yr price CAGR 11.2% (range 7.7–14.6%).

## Why prices should grow about 11.2% a year
- + 6.0%: Start with 6.0% a year: the normal long-run growth of Bengaluru home prices.
- + 1.2%: Add 1.2%: prices here rose 14.0% a year recently (2023-06 to 2026-06). Some of that pace continues, but it fades each year.
- − 0.4%: Subtract 0.4%: at ₹8,000 per sq ft, fewer families can afford to buy here, which slows further rises.
- + 2.4%: Add 2.4%: 15 million sq ft of new offices nearby means more people wanting homes here.
- + 0.0%: Supply and demand are balanced here (17 months of unsold stock).
- + 0.3%: Add 0.3% 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); Bagalur ITIR / Aerospace expansion (planned, 2030).
- + 1.7%: Add 1.7% for this project itself: unfinished homes are worth more once they are complete.
- = 11.2%: Result: about 11.2% a year, so a home worth ₹1.13 Cr today would be worth about ₹1.91 Cr in 5 years. We are 56% confident in the evidence behind this.

## Returns over 8 years
- Cash put in: ₹91.2 L. Exit value in year 8: ₹2.44 Cr. Net sale after loan and costs: ₹1.61 Cr. Net rent after running costs: ₹3.4 L. Loan: ₹88.7 L (EMI ₹0.8 L per month). All-in cost: ₹1.42 Cr (other charges ₹3.8 L, GST ₹5.6 L, stamp duty and registration ₹7.4 L, interiors ₹16.3 L).

## Exit plans compared
- Sell at handover, no interiors (5 years): IRR 22.2%, net-wealth CAGR 13.5%, cash in ₹46.0 L, net rent ₹-0.6 L, net sale ₹99.5 L. Best IRR.
- Hold bare, rent unfurnished (8 years): IRR 15.1%, net-wealth CAGR 8.9%, cash in ₹75.4 L, net rent ₹2.5 L, net sale ₹1.57 Cr.
- Hold, do interiors, rent & sell fitted (8 years): IRR 12.3%, net-wealth CAGR 6.7%, cash in ₹91.2 L, net rent ₹3.4 L, net sale ₹1.61 Cr.

## Financial and legal due diligence (public record)
Automated from the Karnataka RERA file PRM/KA/RERA/1251/309/PR/060925/008065 and 3 quarterly filings. Prices and rents are locality estimates, not verified listings.

### At a glance
- [POSITIVE] On its original RERA completion date: 2031-08-31
- 42% built per the latest filing; 280/543 homes booked
- [WATCH] No RERA complaints on this project; 26 on the promoter overall
- [POSITIVE] No litigation declared in RERA filings

### Risk meters (rule-based)
- Delivery timeline: 9/10. no extensions, no overdue dates on the RERA file
- Legal & complaints: 9/10. no litigation and no complaints on the RERA file
- Money to finish: 8/10. finance cost is 14% of the registered budget; last quarter: collected ₹25.36 cr, withdrew ₹25.36 cr
- Developer strength: 5/10. no public credit rating for the promoter

### Red flags to resolve in writing
1. Joint-development land: confirm which units fall in the owners’ share.

### Complaints and disputes
- 0 complaints on this project at K-RERA (0 open); 26 on the promoter entity across projects.

### Credit ratings
- Bhartiya Urban Pvt Ltd: 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 — 2031-08-31 — and what is the per-month delay compensation?
4. Confirm there is no litigation on the land or approvals beyond the RERA declaration.
5. 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/1251/309/PR/060925/008065 · promoter Bhartiya Urban Pvt Ltd (Company) · U45200TN2008PTC103956
- Dates: Start 2025-09-01 · original completion 2031-08-31 · no extensions [green]
- Progress: 42% complete per quarterly filing Q1 2026-27 (submitted 2026-07-15) · 280 of 543 homes booked (263 available)
- Registered cost: Total ₹793 cr · land ₹0.00 cr · construction ₹510 cr · bank principal+interest ₹107 cr
- Borrowing / mortgage declared: Borrowing: No
- RERA bank account: STATE BANK OF INDIA, Commercial Branch (70% construction account)
- Plan sanction: BIAAPA/TP/CC/219/2025-26 dated 2025-08-06 · BIAPPA - Bangalore Airport Area Planning Authority
- Land & towers: 28.60 acres (1,15,738 sq m) · Tower E 203 homes, 22 floors; Tower F 160 homes, 22 floors; Tower G 180 homes, 22 floors
- Land owners / co-promoters: Dinesh Gundurao (30.0%, Sy 127/1); Dinesh Gundurao (30.0%, Sy 127/2); Mahesh Gundurao (30.0%, Sy 127/2); Mahesh Gundurao (30.0%, Sy 127/4); Dinesh Gundurao (30.0%, Sy 127/5); Mahesh Gundurao (30.0%, Sy 127/5); Dinesh Gundurao (30.0%, Sy 127/13); Dinesh Gundurao (30.0%, Sy 127/14) +3 more [amber]
- Litigation declared: None declared in filings [green]
- K-RERA complaints: 0 on this registration (0 open) · 26 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/1251/309/PR/060925/008065 (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 ₹8,000 per sq ft × 1,360 sq ft; other charges 3.5%; GST 5%; stamp duty + registration 6.6%; loan 75% at 8.5% for 20 years; rent ₹27,000 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/bhartiya-garden-estate-phase-3-008065.json; printable due-diligence report at https://property-lens.ai/dd/bhartiya-garden-estate-phase-3-008065.

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