# Mahaveer Cygnet — Mahaveer, Yelahanka / Jakkur / Airport corridor, Bengaluru

Source: https://property-lens.ai/p/mahaveer-cygnet-000393 (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: 54/100 (50 = the average analysed Bengaluru project, 12 points = one standard deviation). Evidence confidence 56%.
- Projected price growth: 11.3% per year over 5 years (likely range 7.9%–14.8%); 10.0% per year over 10 years.
- Net-wealth CAGR: 7.3% per year over an 8-year hold with a 75% loan at 8.5%, interiors fitted. Cash-flow IRR: 9.0% (all-cash 8.8%). Gross rental yield: 4.2%.
- Status: under construction, RERA handover 2020-12-31. Type: apartment, mid segment. Developer: Mahaveer (#27 in Bengaluru by RERA registrations).
- Address: MAHAVEER CYGNET, SY. 114/1, KOGILU VILLAGE, YELAHANKA HOBLI. Homes: 108. Land: 1.12 acres. Launched: 2017.
- RERA registrations: PRM/KA/RERA/1251/309/PR/171026/000393.

## Homes on offer

| Home | Carpet (sq ft) | Super built-up (sq ft) | Price per sq ft | Price | Rent per month |
|---|---|---|---|---|---|
| 3 BHK | 748 | 1,010 | ₹7,700 (assumed) | ₹77.8 L | ₹28,000 (assumed) |

## Score factors (this home vs the Bengaluru average)
- Price vs comparables: 5.9/10 (city average 6.2, −0.2 points), confidence 35%. ₹7,700 psf vs mid comps ₹8,200 (-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: 8.0/10 (city average 6.0, +4.2 points), confidence 38%. Gross yield 4.3% (₹28 psf/month); locality rental demand 7/10.
- Resale liquidity: 7.2/10 (city average 7.6, −0.8 points), confidence 50%. Locality resale depth 7/10; ticket ₹0.78 Cr narrows the buyer pool; UC resale needs builder NOC; 108-home project.
- Employment access: 6.4/10 (city average 5.2, +2.4 points), confidence 85%. Drive times now (Google Maps, 2026-09-16): Manyata Tech Park 20 min, Hebbal (Kirloskar) 24 min, MG Road (CBD) 41 min, ITPL Whitefield 51 min; 2 of 7 major hubs within 30 min; 14 msf office pipeline (3 yr).
- Metro, bus, rail & airport: 4.5/10 (city average 4.8, −0.4 points), confidence 60%. none operational (Green Line ~9 km); Jakkur Cross / Yelahanka (Blue Line) ~2027; airport ~42 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: 0.0/10 (city average 3.7, −9.5 points), confidence 60%. Mahaveer: 16+ projects, on-time 41% (derived); handover 2020-12-31 (RERA); 68 months past the RERA completion date, 2 extensions, work behind schedule (-93 pts).
- Layout, size, age, amenities, maintenance: 7.3/10 (city average 7.3, −0.0 points), confidence 55%. 96 units/acre; carpet/SBA ~72%; maintenance ~₹3.5 psf/month (assumed); filed construction cost ₹6,531 per sq ft (premium spec).
- 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: 5.7/10 (city average 7.4, −3.4 points), confidence 55%. RERA registered; litigation: none reported; approvals: RERA registered; title: not verified. Due-diligence report lists 2 red flags (−2.8 pts).
- Expected price growth (5-yr CAGR model): 7.9/10 (city average 6.0, +12.1 points), confidence 56%. Model 5-yr price CAGR 11.3% (range 7.9–14.8%).

## Why prices should grow about 11.3% 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.
- − 0.5%: Subtract 0.5%: at ₹7,700 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).
- + 3.0%: Add 3.0% for this project itself: unfinished homes are worth more once they are complete.
- = 11.3%: Result: about 11.3% a year, so a home worth ₹80.5 L today would be worth about ₹1.38 Cr in 5 years. We are 56% confident in the evidence behind this.

## Returns over 8 years
- Cash put in: ₹68.9 L. Exit value in year 8: ₹1.77 Cr. Net sale after loan and costs: ₹1.25 Cr. Net rent after running costs: ₹19.2 L. Loan: ₹63.4 L (EMI ₹0.6 L per month). All-in cost: ₹1.02 Cr (other charges ₹2.7 L, GST ₹4.0 L, stamp duty and registration ₹5.3 L, interiors ₹12.1 L).

## Exit plans compared
- Sell at handover, no interiors (1 years): IRR 2.1%, net-wealth CAGR 2.1%, cash in ₹26.8 L, net rent ₹1.0 L, net sale ₹33.0 L.
- Hold bare, rent unfurnished (8 years): IRR 12.0%, net-wealth CAGR 9.2%, cash in ₹59.3 L, net rent ₹16.3 L, net sale ₹1.24 Cr. Best IRR.
- Hold, do interiors, rent & sell fitted (8 years): IRR 9.0%, net-wealth CAGR 7.3%, cash in ₹68.9 L, net rent ₹19.2 L, net sale ₹1.25 Cr.

## Financial and legal due diligence (public record)
Automated from the Karnataka RERA file PRM/KA/RERA/1251/309/PR/171026/000393. Prices and rents are locality estimates, not verified listings.

### At a glance
- [RED FLAG] Registration extended 2× — from 2019-12-31 to 2020-12-31 (already passed)
- 7% built per the latest filing
- [WATCH] 4 RERA complaints on this project (0 open); 23 on the promoter overall
- [POSITIVE] No litigation declared in RERA filings

### Risk meters (rule-based)
- Delivery timeline: 3/10. 2 extensions on the registration (−4); a registration completion date has already passed (−2)
- Legal & complaints: 7/10. 4 RERA complaints on the project (−2)
- Money to finish: 8/10. finance cost is 0% of the registered budget
- Developer strength: 5/10. no public credit rating for the promoter

### Red flags to resolve in writing
1. Registration extended 2 times: original completion 2019-12-31, now 2020-12-31.
2. RERA completion date 2020-12-31 has passed without a completion application.

### Complaints and disputes
- 4 complaints on this project at K-RERA (0 open); 23 on the promoter entity across projects. Subjects raised: Possession Delayed for 2.7 Years; DEVATION from Approved Site Plan and no setback provide with ENCROACHMENT of adjacent prop; Possession delayed, my flat has not been handed over yet even after 2 years of delay versu; Delay in Handing over the possession of Flat No.209(Block-C).

### Credit ratings
- RED CORAL PROPERTIES: 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 — 2020-12-31 — and what is the per-month delay compensation?
4. Confirm there is no litigation on the land or approvals beyond the RERA declaration.
5. Is the land freehold with the developer, and is any part mortgaged?

### Filed record
**RERA file · Registration**
- Registration: PRM/KA/RERA/1251/309/PR/171026/000393 · promoter RED CORAL PROPERTIES (Partnership Firm) · EX/PRM/KA/RERA/1251/309/PR/210219/000393
- Dates: Start 2017-07-01 · original completion 2019-12-31 · 2 extensions: Covid Extension → 2021-06-30, Section 6 Extension → 2020-12-31 · current date has passed [red]
- Progress: 7% complete per registration-time status
- Registered cost: Total ₹25.18 cr · land ₹0.78 cr · construction ₹24.40 cr
- RERA bank account: ICICI Bank, M.G.ROAD (70% construction account)
- Money at registration: collected ₹0.17 cr · used ₹1.66 cr · balance ₹0.00 cr · delay declared: No
- Land & towers: 1.12 acres (4,545 sq m) · BLOCK - A 40 homes, 3 floors; BLOCK - B 28 homes, 3 floors; BLOCK - C 40 homes, 3 floors
- Litigation declared: None declared in filings [green]
- K-RERA complaints: 4 on this registration (0 open) · 23 on the promoter entity across all its projects [amber]
- Completion applied: 19/12/2020

**Complaint log (K-RERA) · 4 on this project**
- 2021-10-31 · CMP/211031/0008508: Possession Delayed for 2.7 Years — DISPOSED AUTHORITY BENCH5 (AUTHORITY)
- 2021-02-12 · CMP/210212/0007622: DEVATION from Approved Site Plan and no setback provide with ENCROACHMENT of adjacent property SY no 112/1 to which STAY has been Granted in civil court — DISPOSED AUTHORITY FULLBENCH (AUTHORITY)
- 2021-01-27 · CMP/210127/0007465: Possession delayed, my flat has not been handed over yet even after 2 years of delay versus possession timelines mentioned in the agreement. — DISPOSED AUTHORITY BENCH5 (AUTHORITY)
- 2020-12-14 · CMP/201214/0007248: Delay in Handing over the possession of Flat No.209(Block-C) — DISPOSED AUTHORITY BENCH5 (AUTHORITY)

### Sources and caveats
- Karnataka RERA project record PRM/KA/RERA/1251/309/PR/171026/000393 (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 ₹7,700 per sq ft × 1,010 sq ft; other charges 3.5%; GST 5%; stamp duty + registration 6.6%; loan 75% at 8.5% for 20 years; rent ₹28,000 per month growing 5.0% a year with 5% vacancy; maintenance ₹3.5 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/mahaveer-cygnet-000393.json; printable due-diligence report at https://property-lens.ai/dd/mahaveer-cygnet-000393.

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