# Sobha Dream Acres - Tropical Greens Phase 22 Wing 23 and 24 — Sobha, Marathahalli / Kundalahalli / Varthur, Bengaluru

Source: https://property-lens.ai/p/sobha-dream-acres-tropical-greens-phase-22-wing-23-and-24-002037 (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: 57/100 (50 = the average analysed Bengaluru project, 12 points = one standard deviation). Evidence confidence 56%.
- Projected price growth: 8.8% per year over 5 years (likely range 5.4%–12.3%); 8.1% per year over 10 years.
- Net-wealth CAGR: 5.5% per year over an 8-year hold with a 75% loan at 8.5%, interiors fitted. Cash-flow IRR: 7.1% (all-cash 7.9%). Gross rental yield: 3.1%.
- Status: ready to move in. Type: apartment, premium segment. Developer: Sobha (#1 in Bengaluru by RERA registrations).
- Address: Panathur Main Road, Off ORR Balagere, Varthur Hobli. Homes: 237. Land: 2.53 acres. Launched: 2018.
- RERA registrations: PRM/KA/RERA/1251/446/PR/181010/002037.

## Homes on offer

| Home | Carpet (sq ft) | Super built-up (sq ft) | Price per sq ft | Price | Rent per month |
|---|---|---|---|---|---|
| Home | 697 | 990 | ₹12,000 (assumed) | ₹1.19 Cr | ₹31,500 (assumed) |

## Score factors (this home vs the Bengaluru average)
- Price vs comparables: 6.0/10 (city average 6.2, −0.2 points), confidence 35%. ₹12,000 psf vs premium comps ₹12,000 (0%). Price is a model estimate, so this factor carries a third of its normal weight until a listed price is observed.
- Rental demand & yield: 6.6/10 (city average 6.0, +1.4 points), confidence 38%. Gross yield 3.2% (₹32 psf/month); locality rental demand 9/10.
- Resale liquidity: 9.0/10 (city average 7.6, +2.4 points), confidence 60%. Locality resale depth 8/10; ticket ₹1.19 Cr narrows the buyer pool; 237-home project; RERA sales pace ratio 1.
- Employment access: 7.7/10 (city average 5.2, +5.0 points), confidence 85%. Drive times now (Google Maps, 2026-09-16): ORR Bellandur (Ecospace) 18 min, ITPL Whitefield 19 min, Electronic City Ph-1 36 min, Koramangala (Forum) 36 min; 2 of 7 major hubs within 30 min; 7 msf office pipeline (3 yr).
- Metro, bus, rail & airport: 5.9/10 (city average 4.8, +2.0 points), confidence 60%. Purple Line Kundalahalli / Nallurhalli; ORR Blue Line stations ~2027; airport ~80 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: 6.7/10 (city average 3.7, +7.5 points), confidence 60%. Sobha: 119+ projects, on-time 57% (derived); ready.
- Layout, size, age, amenities, maintenance: 7.5/10 (city average 7.3, +0.2 points), confidence 55%. 94 units/acre; carpet/SBA ~72%; maintenance ~₹4.5 psf/month (assumed); filed construction cost ₹4,164 per sq ft (premium spec).
- Water, flooding, noise, infrastructure: 5.3/10 (city average 5.8, −0.9 points), confidence 50%. Varthur lake catchment; ORR congestion
- Legal, title & approvals: 5.5/10 (city average 7.4, −3.8 points), confidence 55%. RERA registered; litigation: 12 case(s) declared; approvals: RERA registered; title: not verified. Due-diligence report lists 1 red flag (−0.8 pts).
- Expected price growth (5-yr CAGR model): 4.6/10 (city average 6.0, −8.6 points), confidence 56%. Model 5-yr price CAGR 8.8% (range 5.4–12.3%).

## Why prices should grow about 8.8% a year
- + 6.0%: Start with 6.0% a year: the normal long-run growth of Bengaluru home prices.
- + 0.8%: Add 0.8%: prices here rose 11.6% 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.
- + 1.3%: Add 1.3%: 7 million sq ft of new offices nearby means more people wanting homes here.
- + 0.5%: Add 0.5%: few unsold homes in the area (12 months of stock), so sellers have the upper hand.
- + 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); Purple Line Whitefield extension (2023) (operational, 2023); Peripheral Ring Road (planned, 2030).
- + 0.0%: No extra project-level adjustment.
- = 8.8%: Result: about 8.8% a year, so a home worth ₹1.23 Cr today would be worth about ₹1.88 Cr in 5 years. We are 56% confident in the evidence behind this.

## Returns over 8 years
- Cash put in: ₹98.3 L. Exit value in year 8: ₹2.33 Cr. Net sale after loan and costs: ₹1.57 Cr. Net rent after running costs: ₹20.7 L. Loan: ₹92.2 L (EMI ₹0.8 L per month). All-in cost: ₹1.40 Cr (other charges ₹4.2 L, GST ₹0.0 L, stamp duty and registration ₹8.1 L, interiors ₹7.9 L).

## Exit plans compared
- No interiors, rent unfurnished (8 years): IRR 8.2%, net-wealth CAGR 6.1%, cash in ₹93.2 L, net rent ₹17.3 L, net sale ₹1.57 Cr. Best IRR.
- Do interiors, rent & sell fitted (8 years): IRR 7.1%, net-wealth CAGR 5.5%, cash in ₹98.3 L, net rent ₹20.7 L, net sale ₹1.57 Cr.

## Financial and legal due diligence (public record)
Automated from the Karnataka RERA file PRM/KA/RERA/1251/446/PR/181010/002037 and 2 quarterly filings. Prices and rents are locality estimates, not verified listings.

### At a glance
- [POSITIVE] Delivered. RERA registration ran 2018-07-01 → 2026-03-30 after 1 extension (original 2025-06-30)
- [POSITIVE] No RERA complaints on this project; 8 on the promoter overall
- [WATCH] 12 court cases declared in RERA filings (no stay recorded)

### Risk meters (rule-based)
- Delivery timeline: 8/10. delivered; the registration was extended 1× before completion
- Legal & complaints: 2.5/10. 12 court cases declared in filings (−4.5); an injunction/stay is recorded (−2)
- Money to finish: 9/10. finance cost is 0% of the registered budget; last quarter: collected ₹5.71 cr, withdrew ₹5.70 cr; 100% of homes booked (+1)
- Developer strength: 8.3/10. ICRA A+/Stable (Sobha Ltd)

### Red flags to resolve in writing
1. 12 court cases declared in RERA filings (594/2016, 356/2010); check for stays and title impact.

### Complaints and disputes
- 0 complaints on this project at K-RERA (0 open); 8 on the promoter entity across projects.

### Credit ratings
- Sobha Ltd: ICRA A+ / Stable (2025-08)

### 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. Provide the occupancy certificate, khata and title chain for the unit.
4. What do the declared cases (594/2016, 356/2010, 227/2011, 448/2014, 1351/2009, 815/2017, 17398/2015, 25145/2019, 388/2020, 13573/2020, 368/2020, 483/2022) 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/181010/002037 · promoter Sobha Limited (Company) · Proposed Project End Date at the time of registration :
- Dates: Start 2018-07-01 · original completion 2025-06-30 · 1 extension: Covid Extension → 2026-03-30 [amber]
- Status: Completed and occupied (per project status); RERA progress fields below are historical [green]
- Registered cost: Total ₹116 cr · land ₹22.73 cr · construction ₹92.88 cr
- RERA bank account: RATNAKAR BANK, Residency Road (70% construction account)
- Land & towers: 2.53 acres (10,233 sq m) · Wing 23 117 homes, 14 floors; Wing 24 120 homes, 14 floors
- Litigation declared: Partition Suit in O.S. filed by Smt.Ramakka against Sri. Akrishnappa and others 594/2016, II Addl. (Sr.Dn.), Bangalore Rural — no stay; Partition Suit in O.S. filed by Smt. Rajamma against B.C. Narayana Reddy and others (M/s.Sobha Limited is not a party and no adverse Order/s on land / project is passed by the Court;) 356/2010, Principal Civil Judge (Sr. Dn.), Banglaore Rural — no stay; Partition Suit in O.S. filed by Smt.Y.Achhamma against Y.Venkata Reddy and others (M/s.Sobha Limited is not a party and no adverse Order/s on land / project is passed by the Court;) 227/2011, Principal (Sr.Dn.) Civil Judge, Bangalore Rural — no stay; Partition Suit in O.S. filed by Smt. Rathnamma & Others Vs. Sri. Muniraju and Others (M/s.Sobha Limited is not a party and no adverse Order/s on land / project is passed by the Court;) 448/2014, III Additional Senior Civil Judge Bengaluru Rural Dist — no stay; Partition Suit in O.S. filed by Muniyappa Vs Smt. Shaifunissa and Others (M/s.Sobha Limited is not a party and no adverse Order/s on land / project is passed by the Court;) 1351/2009, 1st Additional Senior Civil Judge Bengaluru Rural Dist — no stay; Partition Suit in O.S. filed by Anand Kumar and Anr Vs. Gauramma and Ors (M/s.Sobha Limited is not a party and no adverse Order/s on land / project is passed by the Court;) 815/2017, I Additional Senior Civil Judge, Bengaluru Rural, Bengaluru — injunction/stay recorded; Writ Petition 17398/2015, High Court of Karnataka — injunction/stay recorded; W.P filed by Sobha Limited against BBMP and Others, before the High Court of Karnataka, challenging the Ground Rent charges claimed by BBMP 25145/2019, High Court of Karnataka — injunction/stay recorded; Writ petition filed by Sobha Limited against BBMP and Others, challenging the Ground Rent charges claimed by BBMP 388/2020, High court of Karnataka — injunction/stay recorded; Writ petition filed by Sobha Limited against BBMP and Others, before the High Court of Karnataka, challenging the Ground Rent,GSt and others charges claimed by BBMP 13573/2020, High court of Karnataka — injunction/stay recorded; OS 368/2020 filed by Manohar Babu and another against Rukkamma and others before IV Addl Senior Civil Judge at Bangalore Rural for partition, separate possession and other reliefs 368/2020, IV Additional Senior Civil Judge Bengaluru Rural Dist — no stay; OS 483/2022 filed by Kaveramma against Muniyappa and others before III Addl Senior Civil Judge at Bangalore Rural for partition, separate possession and other reliefs 483/2022, III Additional Senior Civil Judge Bengaluru Rural Dist — no stay [red]
- K-RERA complaints: 0 on this registration (0 open) · 8 on the promoter entity across all its projects [green]
- Owners’ association: Formed

### Sources and caveats
- Karnataka RERA project record PRM/KA/RERA/1251/446/PR/181010/002037 (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 ₹12,000 per sq ft × 990 sq ft; other charges 3.5%; GST 0%; stamp duty + registration 6.6%; loan 75% at 8.5% for 20 years; rent ₹31,500 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/sobha-dream-acres-tropical-greens-phase-22-wing-23-and-24-002037.json; printable due-diligence report at https://property-lens.ai/dd/sobha-dream-acres-tropical-greens-phase-22-wing-23-and-24-002037.

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