# Mark's 36 — Vaswani, Central Bengaluru (MG Road / Richmond / Lavelle / Cunningham), Bengaluru

Source: https://property-lens.ai/p/mark-s-36-002178 (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: 36/100 (50 = the average analysed Bengaluru project, 12 points = one standard deviation). Evidence confidence 56%.
- Projected price growth: 8.7% per year over 5 years (likely range 5.2%–12.2%); 8.0% per year over 10 years.
- Net-wealth CAGR: 4.1% per year over an 8-year hold with a 75% loan at 8.5%, interiors fitted. Cash-flow IRR: 5.4% (all-cash 7.0%). Gross rental yield: 2.4%.
- Status: under construction, RERA handover 2026-01-10. Type: apartment, premium segment. Developer: Vaswani (#85 in Bengaluru by RERA registrations).
- Address: KHATA NO. 36, PLOT NO. 36, ST. MARK'S ROAD, WARD NO 111,BANGALORE, PID NO. 76 - 20 - 36. Homes: 12. Land: 0.7 acres. Launched: 2019.
- RERA registrations: PRM/KA/RERA/1251/446/PR/181122/002178.

## Homes on offer

| Home | Carpet (sq ft) | Super built-up (sq ft) | Price per sq ft | Price | Rent per month |
|---|---|---|---|---|---|
| Commercial Building | 6,185 | 8,780 | ₹21,350 (assumed) | ₹18.75 Cr | ₹3,86,500 (assumed) |
| Office, Fine Dining AND  | 7,031 | 9,985 | ₹21,350 (assumed) | ₹21.32 Cr | ₹4,39,500 (assumed) |

## Score factors (this home vs the Bengaluru average)
- Price vs comparables: 5.8/10 (city average 6.2, −0.3 points), confidence 35%. ₹21,350 psf vs premium comps ₹22,000 (-3%; 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: 4.7/10 (city average 6.0, −2.6 points), confidence 38%. Gross yield 2.5% (₹44 psf/month); locality rental demand 9/10.
- Resale liquidity: 3.6/10 (city average 7.6, −7.0 points), confidence 60%. Locality resale depth 8/10; ticket ₹18.75 Cr narrows the buyer pool; UC resale needs builder NOC; 12-home project has thin resale comps; RERA sales pace ratio 0.
- Employment access: 8.2/10 (city average 5.2, +6.1 points), confidence 85%. Drive times now (Google Maps, 2026-09-16): MG Road (CBD) 7 min, Koramangala (Forum) 15 min, Hebbal (Kirloskar) 23 min, Manyata Tech Park 25 min; 5 of 7 major hubs within 30 min; 2 msf office pipeline (3 yr).
- Metro, bus, rail & airport: 7.5/10 (city average 4.8, +4.9 points), confidence 60%. Purple / Green Line CBD stations; no planned station within 2 km; airport ~74 min by road now (Google Maps); .
- Schools, hospitals, daily needs: 9.5/10 (city average 7.0, +2.6 points), confidence 50%. Locality social-infrastructure index (interim, expert-set; POI distances pending Maps integration).
- Builder delivery & handover risk: 2.0/10 (city average 3.7, −4.3 points), confidence 60%. Vaswani: 6+ projects, on-time 42% (derived); handover 2026-01-10 (RERA); 8 months past the RERA completion date, 2 extensions, work on schedule (-13 pts).
- Layout, size, age, amenities, maintenance: 8.4/10 (city average 7.3, +1.3 points), confidence 55%. 17 units/acre; carpet/SBA ~72%; maintenance ~₹4.5 psf/month (assumed); filed construction cost ₹2,153 per sq ft (basic spec).
- Water, flooding, noise, infrastructure: 7.3/10 (city average 5.8, +3.0 points), confidence 50%. Best social infrastructure; traffic and noise
- Legal, title & approvals: 3.6/10 (city average 7.4, −7.7 points), confidence 55%. RERA registered; litigation: 1 case(s) declared; approvals: RERA registered; title: not verified. Due-diligence report lists 3 red flags (−2.4 pts).
- Expected price growth (5-yr CAGR model): 4.5/10 (city average 6.0, −9.5 points), confidence 56%. Model 5-yr price CAGR 8.7% (range 5.2–12.2%).

## Why prices should grow about 8.7% 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 12.4% a year recently (2023-06 to 2026-06). Some of that pace continues, but it fades each year.
- − 0.6%: Subtract 0.6%: at ₹21,350 per sq ft, fewer families can afford to buy here, which slows further rises.
- + 1.0%: Add 1.0%: 2 million sq ft of new offices nearby means more people wanting homes here.
- + 0.9%: Add 0.9%: few unsold homes in the area (12 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: Pink Line Kalena Agrahara–Nagawara (construction, 2027).
- + 0.4%: Add 0.4% for this project itself: unfinished homes are worth more once they are complete.
- = 8.7%: Result: about 8.7% a year, so a home worth ₹19.40 Cr today would be worth about ₹29.44 Cr in 5 years. We are 56% confident in the evidence behind this.

## Returns over 8 years
- Cash put in: ₹16.46 Cr. Exit value in year 8: ₹36.38 Cr. Net sale after loan and costs: ₹23.81 Cr. Net rent after running costs: ₹2.58 Cr. Loan: ₹15.28 Cr (EMI ₹13.3 L per month). All-in cost: ₹22.71 Cr (other charges ₹65.6 L, GST ₹97.0 L, stamp duty and registration ₹1.28 Cr, interiors ₹1.05 Cr).

## Exit plans compared
- Sell at handover, no interiors (1 years): IRR -24.1%, net-wealth CAGR -24.1%, cash in ₹6.45 Cr, net rent ₹12.7 L, net sale ₹6.36 Cr.
- Hold bare, rent unfurnished (8 years): IRR 6.2%, net-wealth CAGR 4.5%, cash in ₹15.76 Cr, net rent ₹2.17 Cr, net sale ₹23.72 Cr. Best IRR.
- Hold, do interiors, rent & sell fitted (8 years): IRR 5.4%, net-wealth CAGR 4.1%, cash in ₹16.46 Cr, net rent ₹2.58 Cr, net sale ₹23.81 Cr.

## Financial and legal due diligence (public record)
Automated from the Karnataka RERA file PRM/KA/RERA/1251/446/PR/181122/002178 and 2 quarterly filings. Prices and rents are locality estimates, not verified listings.

### At a glance
- [RED FLAG] Registration extended 2× — from 2022-04-05 to 2026-01-10 (already passed)
- 87% built per the latest filing; 0/12 homes booked
- [POSITIVE] No RERA complaints on this project; 0 on the promoter overall
- [WATCH] 1 court case 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. 1 court case declared in filings (−1.5); an injunction/stay is recorded (−2)
- Money to finish: 7/10. finance cost is 0% of the registered budget; last quarter: collected ₹0.00 cr, withdrew ₹0.00 cr; only 0% of homes booked (−1)
- Developer strength: 5/10. no public credit rating for the promoter

### Red flags to resolve in writing
1. Registration extended 2 times: original completion 2022-04-05, now 2026-01-10.
2. RERA completion date 2026-01-10 has passed without a completion application.
3. 1 court case declared in RERA filings (388/2011); check for stays and title impact.

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

### Credit ratings
- Vaswani Estates Developers Private Limited: 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 — 2026-01-10 — and what is the per-month delay compensation?
4. What do the declared cases (388/2011) 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/1251/446/PR/181122/002178 · promoter Vaswani Estates Developers Private Limited (Company) · EX/PRM/KA/RERA/1251/446/PR/230808/002178
- Dates: Start 2019-04-05 · original completion 2022-04-05 · 2 extensions: Section 6 Extension → 2024-01-05, Further Extension → 2026-01-10 · current date has passed [red]
- Progress: 87% complete per quarterly filing Q4 2025-26 (submitted 2026-04-15) · 0 of 12 homes booked (12 available)
- Registered cost: Total ₹60.00 cr · land ₹7.50 cr · construction ₹42.00 cr
- RERA bank account: ICICI Bank, Ulsoor (70% construction account)
- Land & towers: 0.70 acres (2,833 sq m) · 1 12 homes, 11 floors
- Litigation declared: CIVIL CASE 388/2011, CITY CIVIL COURT — injunction/stay recorded [red]
- K-RERA complaints: 0 on this registration (0 open) · 0 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/1251/446/PR/181122/002178 (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 ₹21,350 per sq ft × 8,780 sq ft; other charges 3.5%; GST 5%; stamp duty + registration 6.6%; loan 75% at 8.5% for 20 years; rent ₹3,86,500 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/mark-s-36-002178.json; printable due-diligence report at https://property-lens.ai/dd/mark-s-36-002178.

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