# Embassy Grove — Embassy Group, Kodihalli (Old Airport Road / Indiranagar), Bengaluru

Source: https://property-lens.ai/p/embassy-grove (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: 63/100 (50 = the average analysed Bengaluru project, 12 points = one standard deviation). Evidence confidence 60%.
- Projected price growth: 8.3% per year over 5 years (likely range 4.8%–11.7%); 7.8% per year over 10 years.
- Net-wealth CAGR: 6.9% per year over an 8-year hold with a 75% loan at 8.5%, interiors fitted. Cash-flow IRR: 8.6% (all-cash 8.6%). Gross rental yield: 4.2%.
- Status: ready to move in. Type: apartment, luxury segment. Developer: Embassy Group.
- Address: Rustumbagh, Kodihalli, off Old Airport Road, Bengaluru 560017. Homes: 106. Land: 7.93 acres. Launched: 2013.
- RERA registrations: PRM/KA/RERA/1251/446/PR/171019/000614.

## Homes on offer

| Home | Carpet (sq ft) | Super built-up (sq ft) | Price per sq ft | Price | Rent per month |
|---|---|---|---|---|---|
| 4 BHK duplex villament | 3,250 | 4,337 | ₹20,200 (derived) | ₹8.75 Cr | ₹3,20,000 (observed) |
| 4 BHK duplex villament | 3,675 | 4,900 | ₹20,180 (derived) | ₹9.89 Cr | ₹3,80,000 (observed) |
| 4 BHK villament | 4,200 | 5,614 | ₹20,180 (derived) | ₹11.33 Cr | ₹4,00,000 (observed) |
| 5 BHK triplex villament | 4,750 | 6,346 | ₹27,800 (derived) | ₹17.66 Cr | ₹5,00,000 (assumed) |

## Score factors (this home vs the Bengaluru average)
- Price vs comparables: 9.8/10 (city average 6.2, +8.5 points), confidence 55%. ₹20,200 psf vs luxury comps ₹25,000 (-19%).
- Rental demand & yield: 8.6/10 (city average 6.0, +4.9 points), confidence 46%. Gross yield 4.4% (₹74 psf/month); locality rental demand 9/10.
- Resale liquidity: 7.3/10 (city average 7.6, −0.6 points), confidence 50%. Locality resale depth 8/10; ticket ₹8.75 Cr narrows the buyer pool.
- Employment access: 7.4/10 (city average 5.2, +4.1 points), confidence 85%. Drive times now (Google Maps, 2026-09-12): MG Road (CBD) 24 min, Koramangala (Forum) 25 min, ORR Bellandur (Ecospace) 31 min, Electronic City Ph-1 39 min; 2 of 7 major hubs within 30 min; 4 msf office pipeline (3 yr).
- Metro, bus, rail & airport: 4.8/10 (city average 4.8, +0.0 points), confidence 85%. nearest operational metro Indiranagar, 3.7 km (Google Maps); no planned station within 2 km; airport ~75 min by road now (Google Maps); rail: Baiyyappanahalli 4 km.
- Schools, hospitals, daily needs: 7.1/10 (city average 7.0, +0.1 points), confidence 85%. 1 reputed schools within 4 km (St. Joseph's Boys' High School, Bishop Cotton Boys' School); 5 hospitals within 6 km (Manipal Hospitals 0.4 km, Chinmaya Mission Hospital 2.6 km); 2 supermarkets within 2.5 km; 4 malls within 8 km (Nexus Koramangala Mall 4.6 km, 1 MG 3.7 km). Source: Google Maps, 2026-09-12.
- Builder delivery & handover risk: 6.9/10 (city average 3.7, +7.5 points), confidence 50%. Embassy Group: 30+ projects, on-time 70% (assumed); ready.
- Layout, size, age, amenities, maintenance: 8.7/10 (city average 7.3, +1.6 points), confidence 50%. 13 units/acre; carpet/SBA ~75%; maintenance ~₹6 psf/month (assumed).
- Water, flooding, noise, infrastructure: 6.8/10 (city average 5.8, +1.8 points), confidence 50%. Adjoins HAL airfield: aircraft noise on flying days; low-density 8-acre enclave
- Legal, title & approvals: 5.8/10 (city average 7.4, −3.1 points), confidence 75%. RERA registered; litigation: none reported; approvals: RERA registered 2017; completed 2019; title: not verified. Due-diligence report lists 3 red flags (−2.4 pts).
- Expected price growth (5-yr CAGR model): 3.9/10 (city average 6.0, −12.2 points), confidence 56%. Model 5-yr price CAGR 8.3% (range 4.8–11.7%).

## Why prices should grow about 8.3% a year
- + 6.0%: Start with 6.0% a year: the normal long-run growth of Bengaluru home prices.
- + 1.8%: Add 1.8%: prices here rose 18.0% a year recently (2023-06 to 2026-08). Some of that pace continues, but it fades each year.
- − 1.7%: Subtract 1.7%: at ₹20,200 per sq ft, fewer families can afford to buy here, which slows further rises.
- + 1.3%: Add 1.3%: 4 million sq ft of new offices nearby means more people wanting homes here.
- + 0.9%: Add 0.9%: few unsold homes in the area (10 months of stock), so sellers have the upper hand.
- + 0.1%: Add 0.1% for new roads, metro and water lines, weighted by how likely they are to actually finish: Old Airport Road widening / Domlur–Marathahalli works (planned, 2028); Blue Line KR Puram–Hebbal (ORR access) (construction, 2027).
- + 0.0%: No extra project-level adjustment.
- = 8.3%: Result: about 8.3% a year, so a home worth ₹9.07 Cr today would be worth about ₹13.49 Cr in 5 years. We are 56% confident in the evidence behind this.

## Returns over 8 years
- Cash put in: ₹6.29 Cr. Exit value in year 8: ₹16.69 Cr. Net sale after loan and costs: ₹11.08 Cr. Net rent after running costs: ₹2.37 Cr. Loan: ₹6.80 Cr (EMI ₹5.9 L per month). All-in cost: ₹10.10 Cr (other charges ₹30.7 L, GST ₹0.0 L, stamp duty and registration ₹59.8 L, interiors ₹34.7 L).

## Exit plans compared
- No interiors, rent unfurnished (8 years): IRR 9.0%, net-wealth CAGR 6.9%, cash in ₹6.23 Cr, net rent ₹2.03 Cr, net sale ₹11.05 Cr. Best IRR.
- Do interiors, rent & sell fitted (8 years): IRR 8.6%, net-wealth CAGR 6.9%, cash in ₹6.29 Cr, net rent ₹2.37 Cr, net sale ₹11.08 Cr.

## Financial and legal due diligence (public record)
Completed project (RERA PRM/KA/RERA/1251/446/PR/171019/000614); purchase would be a resale. Public records only.

### At a glance
- [WATCH] Delivered. RERA registration ran 2011-09-22 → 2023-03-31 after 3 extensions (original 2019-06-30)
- [POSITIVE] No RERA complaints on this project; 7 on the promoter overall
- [POSITIVE] No litigation declared in RERA filings
- Developer entity Embassy Property Developments Pvt Ltd merged into the listed Embassy Developments Ltd (formerly Equinox India / Indiabulls Real Estate) in 2025.
- [WATCH] NCLT admitted an insolvency petition by Canara Bank (₹202.03 cr, corporate guarantee for Sinnar Thermal Power) against Embassy Developments Ltd on 9 Dec 2025; NCLAT stayed it and set the order aside in May 2026 under IBC Section 10A.
- [WATCH] Embassy Property Developments’ debentures carried an Acuité BB+ rating (2024), below investment grade; the separately sponsored Embassy Office Parks REIT is CRISIL AAA.
- [POSITIVE] Project is complete with occupancy certificate reported; RERA completion Dec 2023 per the Authority’s document, ready since 2019 per listings.
- [POSITIVE] 19 registered resale transactions worth ₹158 cr in the past year: the title chain and association records are the main checks for a buyer.

### Risk meters (rule-based)
- Delivery timeline: 7/10. delivered; the registration was extended 3× before completion
- Legal & complaints: 9/10. no litigation and no complaints on the RERA file
- Money to finish: 8/10. finance cost is 0% of the registered budget
- Developer strength: 2.5/10. Acuité BB+ (Embassy Property Developments); insolvency admission later set aside (−2)

### Red flags to resolve in writing
1. The developer group went through an NCLT admission (Dec 2025), later set aside; relevant to warranties, common-area conveyance and any unsold or developer-held units.
2. Residential arm’s debentures were rated BB+; group risk is above the REIT’s AAA which does not extend here.
3. Confirm the OC, khata, association formation and that the specific villament is free of developer-level charges.

### Complaints and disputes
- 0 complaints on this project at K-RERA (0 open); 7 on the promoter entity across projects.

### Credit ratings
- Embassy Property Developments (RERA promoter) NCDs: Acuité BB+ (2024-05)
- Embassy Office Parks REIT (separate, Blackstone co-sponsored): CRISIL AAA / Stable (2025-12)

### Questions to put to the developer
1. Provide the OC, BBMP khata and full sale-deed chain for the unit.
2. Has the owners’ association taken over maintenance and been conveyed the common areas?
3. Are any units in Embassy Grove still developer-owned and mortgaged?
4. Any pending claims by the association against the developer for defects or dues?

### Filed record
**Who built it and who stands behind it now**
- Original promoter: Embassy Property Developments Pvt Ltd (EPDPL); launch 22 Sep 2011
- Today: EPDPL’s business merged into Embassy Developments Ltd (NSE: EMBDL), listed; formerly Equinox India Developments / Indiabulls Real Estate
- Group: Embassy Group (Jitu Virwani); Embassy Office Parks REIT is co-sponsored with Blackstone and rated CRISIL AAA (Dec 2025), but is a separate, ring-fenced entity

**Insolvency episode (2025–26)**
- Petition: Canara Bank, as lender to Sinnar Thermal Power Ltd, invoked a corporate guarantee; claim ₹202.03 cr
- NCLT: Admitted CIRP against Embassy Developments Ltd on 9 Dec 2025 [red]
- NCLAT: Stayed the order in Dec 2025; hearings Mar–Apr 2026; set aside the admission in May 2026 holding the default fell within the Section 10A (Covid-period) bar [amber]
- Status: No CIRP in force as at Sep 2026; the underlying guarantee dispute may continue in other forums [amber]

**Ratings**
- Acuité — Embassy Property Developments NCDs: BB+ (2024 rationale); sub-investment grade [amber]
- CRISIL — Embassy Office Parks REIT: AAA/Stable (17 Dec 2025) on ₹11,050 cr NCDs; separate entity
- CRISIL — Embassy Construction Pvt Ltd: AAA/Stable (17 Feb 2025); REIT-owned; separate entity

**Project record**
- RERA: Registered Oct 2017; completion recorded Dec 2023; occupancy certificate reported received [green]
- Scale: 106 villaments on 7.93 acres; ready and occupied
- Resale activity: 19 registered transactions ≈ ₹158 cr in the past year; 3 ≈ ₹23 cr in the past three months (portal, Jun 2026) [green]
- Litigation: None located for the project; not verified against court or RERA registers [amber]

**RERA file · Single phase**
- Registration: PRM/KA/RERA/1251/446/PR/171019/000614 · promoter Embassy Property Development Private Limited (Company) · EX/PRM/KA/RERA/1251/446/PR/191130/000614
- Dates: Start 2011-09-22 · original completion 2019-06-30 · 3 extensions: Covid Extension → 2021-03-30, Section 6 Extension → 2020-06-30, Further Extension → 2023-03-31 [red]
- Status: Completed and occupied (per project status); RERA progress fields below are historical [green]
- Registered cost: Total ₹593 cr · land ₹209 cr · construction ₹384 cr
- RERA bank account: HDFC, KB Road (70% construction account)
- Money at registration: collected ₹232 cr · used ₹429 cr · balance ₹0.00 cr · delay declared: Yes (Resource scarcity)
- Land & towers: 7.92 acres (32,071 sq m) · Phase I 66 homes, 4 floors; Phase II 40 homes, 4 floors
- Litigation declared: None declared in filings [green]
- K-RERA complaints: 0 on this registration (0 open) · 7 on the promoter entity across all its projects [green]

### Sources and caveats
- Business Standard and legal press on NCLT admission (11 Dec 2025) and NCLAT order (May 2026)
- Acuité rating document for Embassy Property Developments (May 2024); CRISIL rationales for Embassy Office Parks REIT (Dec 2025) and Embassy Construction (Feb 2025)
- Listing portals for RERA number, completion/OC and resale transactions
- Caveats: Court outcomes summarised from press reports, not the orders themselves. Rating on EPDPL debentures is from 2024 and may have changed after the merger. Nothing here is legal, tax or investment advice.

## Assumptions used
- Price ₹20,200 per sq ft × 4,337 sq ft; other charges 3.5%; GST 0%; stamp duty + registration 6.6%; loan 75% at 8.5% for 20 years; rent ₹3,20,000 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/embassy-grove.json; printable due-diligence report at https://property-lens.ai/dd/embassy-grove.

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