# Sumadhura Panorama Phase-I — Sumadhura, Devanahalli / Airport Road / Bagalur, Bengaluru

Source: https://property-lens.ai/p/sumadhura-panorama-phase-i-007412 (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: 46/100 (50 = the average analysed Bengaluru project, 12 points = one standard deviation). Evidence confidence 55%.
- Projected price growth: 11.3% per year over 5 years (likely range 7.8%–14.7%); 10.6% per year over 10 years.
- Net-wealth CAGR: 8.2% per year over an 8-year hold with a 75% loan at 8.5%. Cash-flow IRR: 12.9% (all-cash 11.3%). Gross rental yield: 0.0%.
- Status: under construction, RERA handover 2027-12-31. Type: plot, premium segment. Developer: Sumadhura (#10 in Bengaluru by RERA registrations).
- Address: Sy No.17/2, 18/1, 18/2, 18/3, 20/1, 20/2, 20/3, 20/4, 21, 23/1, 23/2, 23/3, 23/4, 24/1, 24/2, 24/4, 26/1, 26/2, 27/1, 27/2, 27/3, 27/4, 28/1, 28/2, , 29/1, 29/2, 46/1, 46/2, 46/3, 46/5, 46/6 & 47/2, Sannamanikere Village, Kasaba Hobli. Homes: not filed. Land: not filed. Launched: 2025.
- RERA registrations: PRM/KA/RERA/1250/303/PR/220125/007412.

## Homes on offer

| Home | Carpet (sq ft) | Super built-up (sq ft) | Price per sq ft | Price | Rent per month |
|---|---|---|---|---|---|
| Plot | 4,684 | 4,685 | ₹4,550 (assumed) | ₹2.13 Cr | — |

## Score factors (this home vs the Bengaluru average)
- Price vs comparables: 7.2/10 (city average 6.2, +0.8 points), confidence 35%. ₹4,550 psf vs premium comps ₹8,500 (-46%; 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: 3.0/10 (city average 6.0, −5.9 points), confidence 38%. Gross yield 0.0% (₹0 psf/month); locality rental demand 6/10.
- Resale liquidity: 6.4/10 (city average 7.6, −2.1 points), confidence 50%. Locality resale depth 6/10; ticket ₹2.13 Cr narrows the buyer pool; UC resale needs builder NOC.
- Employment access: 1.5/10 (city average 5.2, −7.6 points), confidence 85%. Drive times now (Google Maps, 2026-09-16): Manyata Tech Park 63 min, Hebbal (Kirloskar) 68 min, ITPL Whitefield 78 min, MG Road (CBD) 84 min; 0 of 7 major hubs within 30 min; 15 msf office pipeline (3 yr).
- Metro, bus, rail & airport: 4.3/10 (city average 4.8, −0.8 points), confidence 60%. none; Blue Line airport terminal station under construction; Airport City (Blue Line) ~2027; airport ~16 min by road now (Google Maps); .
- Schools, hospitals, daily needs: 5.0/10 (city average 7.0, −2.0 points), confidence 50%. Locality social-infrastructure index (interim, expert-set; POI distances pending Maps integration).
- Builder delivery & handover risk: 6.6/10 (city average 3.7, +7.3 points), confidence 60%. Sumadhura: 28+ projects, on-time 77% (derived); handover 2027-12-31 (RERA); within the RERA timeline, work on schedule (33 pts).
- Layout, size, age, amenities, maintenance: 7.3/10 (city average 7.3, −0.0 points), confidence 50%. 60 units/acre; carpet/SBA ~72%; maintenance ~₹4.5 psf/month (assumed).
- Water, flooding, noise, infrastructure: 5.8/10 (city average 5.8, −0.1 points), confidence 50%. Plotted-development heavy; social infrastructure still thin
- Legal, title & approvals: 5.2/10 (city average 7.4, −4.5 points), confidence 55%. RERA registered; litigation: 2 case(s) declared; approvals: Plan BIAAPA/TP/LAO/094/2023-24/24-25/1920 dated 2024-11-15; title: not verified. Due-diligence report lists 1 red flag (−0.8 pts).
- Expected price growth (5-yr CAGR model): 7.8/10 (city average 6.0, +11.3 points), confidence 56%. Model 5-yr price CAGR 11.3% (range 7.8–14.7%).

## 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.
- + 1.2%: Add 1.2%: prices here rose 14.0% a year recently (2023-06 to 2026-06). Some of that pace continues, but it fades each year.
- − 0.4%: Subtract 0.4%: at ₹4,550 per sq ft, fewer families can afford to buy here, which slows further rises.
- + 2.4%: Add 2.4%: 15 million sq ft of new offices nearby means more people wanting homes here.
- + 0.0%: Supply and demand are balanced here (17 months of unsold stock).
- + 0.3%: Add 0.3% 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); Bagalur ITIR / Aerospace expansion (planned, 2030).
- + 1.8%: Add 1.8% 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 ₹2.17 Cr today would be worth about ₹3.71 Cr in 5 years. We are 56% confident in the evidence behind this.

## Returns over 8 years
- Cash put in: ₹1.75 Cr. Exit value in year 8: ₹4.92 Cr. Net sale after loan and costs: ₹3.45 Cr. Net rent after running costs: ₹-6.1 L. Loan: ₹1.63 Cr (EMI ₹1.4 L per month). All-in cost: ₹2.32 Cr (other charges ₹4.3 L, GST ₹0.0 L, stamp duty and registration ₹14.4 L).

## Financial and legal due diligence (public record)
Automated from the Karnataka RERA file PRM/KA/RERA/1250/303/PR/220125/007412 and 3 quarterly filings. Prices and rents are locality estimates, not verified listings.

### At a glance
- [POSITIVE] On its original RERA completion date: 2027-12-31
- 90% built per the latest filing; 0/0 homes booked
- [POSITIVE] No RERA complaints on this project; 0 on the promoter overall
- [WATCH] 2 court cases declared in RERA filings (no stay recorded)

### Risk meters (rule-based)
- Delivery timeline: 9/10. no extensions, no overdue dates on the RERA file
- Legal & complaints: 4/10. 2 court cases declared in filings (−3); an injunction/stay is recorded (−2)
- Money to finish: 8/10. finance cost is 0% of the registered budget; last quarter: collected ₹41.29 cr, withdrew ₹29.40 cr
- Developer strength: 6.5/10. CRISIL BBB+/Stable (Sumadhura Infracon)

### Red flags to resolve in writing
1. 2 court cases declared in RERA filings (310308/2021, 308310/2021); 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
- Sumadhura Infracon: CRISIL BBB+ / Stable (2025-05)

### 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 — 2027-12-31 — and what is the per-month delay compensation?
4. What do the declared cases (310308/2021, 308310/2021) 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/1250/303/PR/220125/007412 · promoter SUMADHURA REALTY (Partnership Firm) · SJN-F741-2022-23
- Dates: Start 2025-01-01 · original completion 2027-12-31 · no extensions [green]
- Progress: 90% complete per quarterly filing Q1 2026-27 (submitted 2026-07-15) · 0 of 0 homes booked (0 available)
- Registered cost: Total ₹410 cr · construction ₹109 cr
- Borrowing / mortgage declared: Borrowing: No
- RERA bank account: HDFC, Bangalore Richmond Road (70% construction account)
- Plan sanction: BIAAPA/TP/LAO/094/2023-24/24-25/1920 dated 2024-11-15 · BIAPPA - Bangalore Airport Area Planning Authority
- Land owners / co-promoters: M/s Sumadhura Realty (100.0%, Sy 18/1); M/s Sumadhura Realty (100.0%, Sy 18/2); M/s Sumadhura Realty (100.0%, Sy 20/1); M/s Sumadhura Realty (100.0%, Sy 20/2); M/s Sumadhura Realty (100.0%, Sy 20/3); M/s Sumadhura Realty (100.0%, Sy 20/4); M/s Sumadhura Realty (100.0%, Sy 21); M/s Sumadhura Realty (100.0%, Sy 23/1) +7 more [amber]
- Litigation declared: Civil Suit or OS 310308/2021, Senior Civil Judge & JMFC Devanahalli — no stay; OS 308310/2021, Senior Civil Judge & JMFC Devanahalli — injunction/stay recorded [red]
- Owners’ association: Not yet formed
- Completion applied: 19/12/2020

### Sources and caveats
- Karnataka RERA project record PRM/KA/RERA/1250/303/PR/220125/007412 (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 ₹4,550 per sq ft × 4,685 sq ft; other charges 2.0%; GST 0%; stamp duty + registration 6.6%; loan 75% at 8.5% for 20 years; rent ₹0 per month growing 5.0% a year with 5% vacancy; maintenance ₹0.3 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/sumadhura-panorama-phase-i-007412.json; printable due-diligence report at https://property-lens.ai/dd/sumadhura-panorama-phase-i-007412.

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