# Shriram Blue — Shriram Properties, Whitefield (Hoodi / Varthur Road), Bengaluru

Source: https://property-lens.ai/p/shriram-blue-001966 (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: 44/100 (50 = the average analysed Bengaluru project, 12 points = one standard deviation). Evidence confidence 56%.
- Projected price growth: 9.1% per year over 5 years (likely range 5.7%–12.6%); 8.4% per year over 10 years.
- Net-wealth CAGR: 4.4% per year over an 8-year hold with a 75% loan at 8.5%, interiors fitted. Cash-flow IRR: 5.7% (all-cash 7.2%). Gross rental yield: 3.0%.
- Status: under construction, RERA handover 2023-11-30. Type: apartment, premium segment. Developer: Shriram Properties (#7 in Bengaluru by RERA registrations).
- Address: SY.NO.11 (P) OF SEEGEHALLI VILLAGE, , K.R.PURAM HOBLI, BANGALORE EAST. Homes: 471. Land: 8.59 acres. Launched: 2018.
- RERA registrations: PRM/KA/RERA/1251/446/PR/180728/001966.

## Homes on offer

| Home | Carpet (sq ft) | Super built-up (sq ft) | Price per sq ft | Price | Rent per month |
|---|---|---|---|---|---|
| Home | 1,009 | 1,435 | ₹11,750 (assumed) | ₹1.69 Cr | ₹43,000 (assumed) |

## Score factors (this home vs the Bengaluru average)
- Price vs comparables: 5.9/10 (city average 6.2, −0.2 points), confidence 35%. ₹11,750 psf vs premium comps ₹12,500 (-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: 6.4/10 (city average 6.0, +1.0 points), confidence 38%. Gross yield 3.1% (₹30 psf/month); locality rental demand 9/10.
- Resale liquidity: 8.7/10 (city average 7.6, +2.0 points), confidence 50%. Locality resale depth 9/10; ticket ₹1.69 Cr narrows the buyer pool; UC resale needs builder NOC; 471-home project gives deep resale comps.
- Employment access: 7.9/10 (city average 5.2, +5.4 points), confidence 85%. Drive times now (Google Maps, 2026-09-16): ITPL Whitefield 13 min, ORR Bellandur (Ecospace) 34 min, Manyata Tech Park 35 min, MG Road (CBD) 40 min; 1 of 7 major hubs within 30 min; 9 msf office pipeline (3 yr).
- Metro, bus, rail & airport: 6.4/10 (city average 4.8, +2.9 points), confidence 60%. Purple Line stations Hoodi–Kadugodi; no planned station within 2 km; airport ~57 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: 0.0/10 (city average 3.7, −9.5 points), confidence 60%. Shriram Properties: 40+ projects, on-time 46% (derived); handover 2023-11-30 (RERA); 34 months past the RERA completion date, 3 extensions.
- Layout, size, age, amenities, maintenance: 8.3/10 (city average 7.3, +1.2 points), confidence 55%. 55 units/acre; carpet/SBA ~72%; maintenance ~₹4.5 psf/month (assumed); filed construction cost ₹4,984 per sq ft (premium spec).
- Water, flooding, noise, infrastructure: 6.4/10 (city average 5.8, +1.3 points), confidence 50%. Cauvery Stage V reached parts of Whitefield in 2024-25; Varthur/Hoodi low-lying pockets flood
- Legal, title & approvals: 4.6/10 (city average 7.4, −5.7 points), confidence 55%. RERA registered; litigation: none reported; approvals: RERA registered; title: not verified. Due-diligence report lists 3 red flags (−3.9 pts).
- Expected price growth (5-yr CAGR model): 5.0/10 (city average 6.0, −6.2 points), confidence 56%. Model 5-yr price CAGR 9.1% (range 5.7–12.6%).

## Why prices should grow about 9.1% a year
- + 6.0%: Start with 6.0% a year: the normal long-run growth of Bengaluru home prices.
- + 0.7%: Add 0.7%: prices here rose 10.6% 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.
- + 1.6%: Add 1.6%: 9 million sq ft of new offices nearby means more people wanting homes here.
- + 0.3%: Add 0.3%: few unsold homes in the area (15 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: Purple Line Whitefield extension (2023) (operational, 2023); Peripheral Ring Road (planned, 2030); Cauvery Stage V water (construction, 2027).
- + 0.4%: Add 0.4% for this project itself: unfinished homes are worth more once they are complete.
- = 9.1%: Result: about 9.1% a year, so a home worth ₹1.75 Cr today would be worth about ₹2.70 Cr in 5 years. We are 56% confident in the evidence behind this.

## Returns over 8 years
- Cash put in: ₹1.52 Cr. Exit value in year 8: ₹3.38 Cr. Net sale after loan and costs: ₹2.25 Cr. Net rent after running costs: ₹27.6 L. Loan: ₹1.37 Cr (EMI ₹1.2 L per month). All-in cost: ₹2.12 Cr (other charges ₹5.9 L, GST ₹8.7 L, stamp duty and registration ₹11.5 L, interiors ₹17.2 L).

## Exit plans compared
- Sell at handover, no interiors (1 years): IRR -23.2%, net-wealth CAGR -23.2%, cash in ₹58.0 L, net rent ₹1.3 L, net sale ₹57.6 L.
- Hold bare, rent unfurnished (8 years): IRR 7.5%, net-wealth CAGR 5.5%, cash in ₹1.39 Cr, net rent ₹23.1 L, net sale ₹2.24 Cr. Best IRR.
- Hold, do interiors, rent & sell fitted (8 years): IRR 5.7%, net-wealth CAGR 4.4%, cash in ₹1.52 Cr, net rent ₹27.6 L, net sale ₹2.25 Cr.

## Financial and legal due diligence (public record)
Automated from the Karnataka RERA file PRM/KA/RERA/1251/446/PR/180728/001966. Prices and rents are locality estimates, not verified listings.

### At a glance
- [RED FLAG] Registration extended 3× — from 2021-07-16 to 2023-11-30 (already passed)
- [RED FLAG] 32 RERA complaints on this project (2 open); 32 on the promoter overall
- [POSITIVE] No litigation declared in RERA filings

### Risk meters (rule-based)
- Delivery timeline: 1/10. 3 extensions on the registration (−6); a registration completion date has already passed (−2)
- Legal & complaints: 6/10. 32 RERA complaints on the project (−3); 2 still open
- Money to finish: 8/10. finance cost is 0% of the registered budget
- Developer strength: 7.6/10. CRISIL A-/Stable (Shriram Properties Ltd)

### Red flags to resolve in writing
1. Registration extended 3 times: original completion 2021-07-16, now 2023-11-30.
2. RERA completion date 2023-11-30 has passed without a completion application.
3. 32 K-RERA complaints on this registration.

### Complaints and disputes
- 32 complaints on this project at K-RERA (2 open); 32 on the promoter entity across projects. Subjects raised: Delay in Handing over unit; Claiming the interest for Delay possession; Request for Inspection and Verification of All Promised Amenities and Deliverables in Shri; Interest on delay period; Form N - delay in delivering the posession; Delay in delivery Interest.

### Credit ratings
- Shriram Properties Ltd: CRISIL A- / Stable (2025-04)

### 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 — 2023-11-30 — 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/1251/446/PR/180728/001966 · promoter MAARS INFRA DEVELOPERS PRIVATE LIMITED (Company) · EX/PRM/KA/RERA/1251/446/PR/220604/001966
- Dates: Start 2018-07-16 · original completion 2021-07-16 · 3 extensions: Covid Extension → 2022-04-16, Section 6 Extension → 2023-04-16, Further Extension → 2023-11-30 · current date has passed [red]
- Registered cost: Total ₹329 cr · land ₹9.18 cr · construction ₹320 cr
- RERA bank account: YES BANK, Kasturba Road (70% construction account)
- Land & towers: 8.59 acres (34,756 sq m) · A 42 homes, 12 floors; B 42 homes, 12 floors; C 42 homes, 12 floors; D 42 homes, 12 floors; E 42 homes, 12 floors; F 48 homes, 12 floors; G 42 homes, 12 floors; H 42 homes, 12 floors; J 45 homes, 12 floors; K 42 homes, 12 floors; L 42 homes, 12 floors
- Litigation declared: None declared in filings [green]
- K-RERA complaints: 32 on this registration (2 open) · 32 on the promoter entity across all its projects [red]

**Complaint log (K-RERA) · 32 on this project**
- 2025-06-30 · 00876/2025: Delay in Handing over unit — POSTED FOR ORDERS AUTHORITY FULLBENCH [amber]
- 2024-11-19 · 01191/2024: Claiming the interest for Delay possession — POSTED FOR ORDERS AUTHORITY FULLBENCH [amber]
- 2024-09-17 · 00899/2024: Request for Inspection and Verification of All Promised Amenities and Deliverables in Shriram Blue Society by Shriram Group — DISPOSED AUTHORITY FULLBENCH (AUTHORITY)
- 2024-03-07 · 00254/2024: Interest on delay period — DISPOSED AUTHORITY BENCH6 (AUTHORITY)
- 2024-01-11 · 00052/2024: Form N - delay in delivering the posession — DISPOSED AUTHORITY BENCH4 (AUTHORITY)
- 2023-09-21 · 01465/2023: Delay in delivery Interest — DISPOSED AUTHORITY BENCH6 (AUTHORITY)
- 2023-07-13 · 01092/2023: Compensation on Delay and Breach of Agreement — DISPOSED AUTHORITY BENCH6 (AUTHORITY)
- 2023-06-07 · 00910/2023: Failed to deliver unit i.e C block 602 since April 2022 till Now — DISPOSED AUTHORITY BENCH6 (AUTHORITY)
- 2023-05-30 · 00851/2023: Request for compensation because of delay in handover of apartment within agreed completion time — DISPOSED AUTHORITY BENCH6 (AUTHORITY)
- 2023-05-18 · 00767/2023: Compensation for Delayed Possession of Flat in Shriram Blue — DISPOSED AUTHORITY BENCH6 (AUTHORITY)
- 2023-05-09 · 00719/2023: Compensation for delay in possession for my apartment — DISPOSED AUTHORITY BENCH6 (AUTHORITY)
- 2023-05-08 · 00714/2023: Builder wrongfully requesting permission for RERA extension — DISPOSED AUTHORITY BENCH6 (AUTHORITY)
- 2023-04-25 · 00555/2023: Delay in Project Handover and almost nil compensation — DISPOSED AUTHORITY BENCH5 (AUTHORITY)
- 2023-04-20 · 00530/2023: Compensation for Delay in Project Completion and Flat Handover — DISPOSED AUTHORITY BENCH5 (AUTHORITY)
- 2023-04-18 · 00513/2023: Request for compensation for delay in handover and take action against builder for denying of compensation as per agreement terms — DISPOSED AUTHORITY BENCH5 (AUTHORITY)
- 2023-04-15 · 00491/2023: Compensation for delay in completion of Project Shriram Blue and handover of our unit B0802 — DISPOSED AUTHORITY BENCH5 (AUTHORITY)
- 2023-04-03 · 00421/2023: Tiles in lieu of Wooden Flooring in Tower F — DISPOSED AUTHORITY BENCH6 (AUTHORITY)
- 2023-03-16 · 00338/2023: Project delayed by almost 2 year, compensation required — DISPOSED AUTHORITY BENCH6 (AUTHORITY)
- 2023-03-14 · 00327/2023: Compensation for delay in delivery of the apartment and breach of sale agreement — DISPOSED AUTHORITY BENCH6 (AUTHORITY)
- 2023-02-27 · 00252/2023: Delay in possession of the flat which led to further expenses to us and mental trauma — DISPOSED AUTHORITY BENCH6 (AUTHORITY)
- 2023-02-24 · 00247/2023: Compensation due to delay in possession of unit and completion of Project — DISPOSED AUTHORITY BENCH6 (AUTHORITY)
- 2023-02-24 · 00248/2023: Compensation due to delay in possession of unit and completion of Project — DISPOSED AUTHORITY BENCH6 (AUTHORITY)
- 2023-02-23 · 00238/2023: IMMEDIATE RELEASE OF DELAY INTEREST, COMPLETION OF PROJECT AND POSSESSION OF UNIT ON OR BEFORE 16- APRIL-2023 — DISPOSED AUTHORITY BENCH6 (AUTHORITY)
- 2023-02-22 · 00225/2023: Compensation due to delay in possession of unit and completion of Project — DISPOSED AUTHORITY BENCH6 (AUTHORITY)
- 2023-02-22 · 00227/2023: Compensation for Delay in Completion of Project — DISPOSED AUTHORITY BENCH6 (AUTHORITY)

### Sources and caveats
- Karnataka RERA project record PRM/KA/RERA/1251/446/PR/180728/001966 (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 ₹11,750 per sq ft × 1,435 sq ft; other charges 3.5%; GST 5%; stamp duty + registration 6.6%; loan 75% at 8.5% for 20 years; rent ₹43,000 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/shriram-blue-001966.json; printable due-diligence report at https://property-lens.ai/dd/shriram-blue-001966.

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