Embassy Grove
Embassy Group · Kodihalli (Old Airport Road / Indiranagar)
Home analysed: 4 BHK duplex villament · 4,337 sq ft. Financing: 75% loan at 8.5% over 20 years, 8-year hold, interiors fitted before letting. Every number states whether it was observed from a source or assumed. Score of 50 = the average analysed Bengaluru project; 12 points = one standard deviation.
Price edits apply to · · ▲ 24% since Sep 2025
In plain words
Each home is marked on 11 things a careful buyer checks, then compared with every project we analyse in Bengaluru: 50 is the average project, 62 beats about five in six. Here is what lifts this one and what drags it:
- +Price vs comparables · 8/9 pts
Cheaper than similar luxury homes nearby: ₹20,200 vs about ₹25,000 per sq ft. - +Rental demand & yield · 5/8 pts
Rent pays back 4.2% of the price every year, better than the usual 3% in Bengaluru. Tenant demand here is very strong. - +Layout, size, age, amenities, maintenance · 2/3 pts
Spacious layout (13 homes per acre); about 75% of the area you pay for is usable carpet area. Maintenance ~₹6 per sq ft a month. - −Legal, title & approvals · -3/5 pts
Registered with Karnataka RERA; no court cases reported; land title not yet verified by us, so get a lawyer to check. The due-diligence report below flags 3 items in red. - −Expected price growth (5-yr CAGR model) · -12/24 pts
We expect prices here to rise about 8.3% a year for the next 5 years (explained below). - •Resale liquidity · -1/4 pts
A limited pool of buyers can afford a ₹8.75 Cr home, and homes in Kodihalli resell quickly.
All 11 checks
- +Price vs comparables · 8/9 pts
Cheaper than similar luxury homes nearby: ₹20,200 vs about ₹25,000 per sq ft. - +Rental demand & yield · 5/8 pts
Rent pays back 4.2% of the price every year, better than the usual 3% in Bengaluru. Tenant demand here is very strong. - +Resale liquidity · -1/4 pts
A limited pool of buyers can afford a ₹8.75 Cr home, and homes in Kodihalli resell quickly. - +Employment access · 4/9 pts
Drive times right now: MG Road (CBD) 24 min, Koramangala (Forum) 25 min, ORR Bellandur (Ecospace) 31 min; Hebbal (Kirloskar) 49 min. About 4 million sq ft of new offices are planned nearby in 3 years. - •Metro, bus, rail & airport · 0/9 pts
The nearest working metro, Indiranagar, is 3.7 km away. Airport is about 75 minutes by road right now. - +Schools, hospitals, daily needs · 0/3 pts
Schools: St. Joseph's Boys' High School, Bishop Cotton Boys' School, Neev Academy. Hospitals: Manipal Hospitals (0.4 km), Chinmaya Mission Hospital (2.6 km). Daily needs: More Supermarket (1.2 km), MK Retail Supermarket (2.7 km); malls: Nexus Koramangala Mall (4.6 km), 1 MG (3.7 km). - •Builder delivery & handover risk · 8/15 pts
Embassy Group has finished 30+ projects and delivered on time about 70% of the time. This home is ready, so there is no waiting risk. - +Layout, size, age, amenities, maintenance · 2/3 pts
Spacious layout (13 homes per acre); about 75% of the area you pay for is usable carpet area. Maintenance ~₹6 per sq ft a month. - •Water, flooding, noise, infrastructure · 2/8 pts
Low flood risk; water supply is reliable piped supply; noticeable traffic or aircraft noise. - •Legal, title & approvals · -3/5 pts
Registered with Karnataka RERA; no court cases reported; land title not yet verified by us, so get a lawyer to check. The due-diligence report below flags 3 items in red. - −Expected price growth (5-yr CAGR model) · -12/24 pts
We expect prices here to rise about 8.3% a year for the next 5 years (explained below).
We build the forecast step by step, starting from what Bengaluru homes normally do and adjusting for this area and this project:
- + 6.0%Start with 6.0% a year: the normal long-run growth of Bengaluru home prices.
- + 1.8%Add 1.8%: prices here rose 18.0% a year recently (2023-06 to 2026-08). Some of that pace continues, but it fades each year.
- − 1.7%Subtract 1.7%: at ₹20,200 per sq ft, fewer families can afford to buy here, which slows further rises.
- + 1.3%Add 1.3%: 4 million sq ft of new offices nearby means more people wanting homes here.
- + 0.9%Add 0.9%: few unsold homes in the area (10 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: Old Airport Road widening / Domlur–Marathahalli works (planned, 2028); Blue Line KR Puram–Hebbal (ORR access) (construction, 2027).
- + 0.0%No extra project-level adjustment.
- = 8.3%Result: about 8.3% a year, so a home worth ₹9.07 Cr today would be worth about ₹13.49 Cr in 5 years. We are 56% confident in the evidence behind this.
Which exit suits you?
Interiors change both the rent you get and what you recover at sale. Same price, same loan; only the strategy changes:
| Strategy | Hold | IRR / yr | Wealth CAGR / yr | Cash you put in | Net rent | Net sale | Apply |
|---|---|---|---|---|---|---|---|
| No interiors, rent unfurnished best IRR Skip interiors; rent 12% lower than a fitted home; sell after 8 yrs with no interiors value. | 8 yrs | 9.0% | 6.9% | ₹6.23 Cr | ₹2.03 Cr | ₹11.05 Cr | |
| Do interiors, rent & sell fitted selected Spend ₹800/sq ft on interiors, earn full rent, recover ~40% of interiors cost at sale (fading over 10 yrs). | 8 yrs | 8.6% | 6.9% | ₹6.29 Cr | ₹2.37 Cr | ₹11.08 Cr |
IRR and CAGR are per year over the hold shown. A short hold can show a high IRR on a small absolute gain; compare the net-sale column too. Selling before registration usually needs the builder’s transfer NOC and a fee.
Homes on offer
Every unit type on the RERA inventory or price list. Prices marked “assumed” are locality-model estimates until a listing is verified.
| Home | Carpet | Super built-up | Price / sq ft | Price | Rent / month | Units |
|---|---|---|---|---|---|---|
| 4 BHK duplex villament 4,337 sq ft | 3,250 sq ft | 4,337 sq ft | ₹20,200 derived | ₹8.75 Cr | ₹3,20,000 observed | — |
| 4 BHK duplex villament 4,900 sq ft | 3,675 sq ft | 4,900 sq ft | ₹20,180 derived | ₹9.89 Cr | ₹3,80,000 observed | — |
| 4 BHK villament 5,614 sq ft | 4,200 sq ft | 5,614 sq ft | ₹20,180 derived | ₹11.33 Cr | ₹4,00,000 observed | — |
| 5 BHK triplex villament 6,346 sq ft | 4,750 sq ft | 6,346 sq ft | ₹27,800 derived | ₹17.66 Cr | ₹5,00,000 assumed | — |
Highlights
- Ready 8-acre villament enclave (106 homes, 13/acre) off Old Airport Road, delivered 2019
- Asking prices rose from ₹21,650 to ₹26,850 psf between Sep 2025 and Mar 2026; 19 registered resales in the past year show real liquidity
- Rent from day one at ₹3–4 L/month for 4 BHK; tickets of ₹9–18 Cr narrow the buyer pool
Assumptions used prefilled
These are the inputs behind every number above. Open the project page to change any of them.
Purchase
FinancingLoan 75% · cash 25% · EMI ₹5.9 L/mo
Rent & running costs
Interiors & exit
Returns over 8 years · with interiors
| Year | Purchase | Loan in | Rent (net of vacancy) | Opex | Debt service | Sale − loan | Net cash |
|---|---|---|---|---|---|---|---|
| Today | -10.14 Cr | 6.80 Cr | 0.0 L | 0.0 L | 0.0 L | 0.0 L | -3.34 Cr |
| Yr 1 | 0.0 L | 0.0 L | 24.3 L | -9.0 L | -70.8 L | 0.0 L | -55.5 L |
| Yr 2 | 0.0 L | 0.0 L | 38.3 L | -11.3 L | -70.8 L | 0.0 L | -43.8 L |
| Yr 3 | 0.0 L | 0.0 L | 40.2 L | -11.8 L | -70.8 L | 0.0 L | -42.4 L |
| Yr 4 | 0.0 L | 0.0 L | 42.2 L | -12.3 L | -70.8 L | 0.0 L | -40.9 L |
| Yr 5 | 0.0 L | 0.0 L | 44.3 L | -12.8 L | -70.8 L | 0.0 L | -39.3 L |
| Yr 6 | 0.0 L | 0.0 L | 46.6 L | -13.4 L | -70.8 L | 0.0 L | -37.6 L |
| Yr 7 | 0.0 L | 0.0 L | 48.9 L | -14.0 L | -70.8 L | 0.0 L | -35.9 L |
| Yr 8 | 0.0 L | 0.0 L | 51.3 L | -14.6 L | -70.8 L | 11.08 Cr | 10.74 Cr |
Pre-tax unless capital-gains tax is set. Rent enters the cash flows once. Net-wealth CAGR = (cash returned incl. sale ÷ cash put in)^(1/years) − 1. IRR uses the dated cash flows.
Score factors
Bars show points added or taken away versus the average analysed Bengaluru project (score 50).
Price growth model, year by year
Nominal growth per year. Parts add up; momentum fades, infrastructure is weighted by delivery probability and dated.
| Component | Yr 1 | Yr 2 | Yr 3 | Yr 4 | Yr 5 | Yr 6 | Confidence |
|---|---|---|---|---|---|---|---|
| Bengaluru long-run nominal trend | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 80% |
| Locality momentum (mean-reverting) | 4.2 | 2.3 | 1.3 | 0.7 | 0.4 | 0.2 | 45% |
| Affordability ceiling | -3.1 | -2.2 | -1.5 | -1.1 | -0.7 | -0.5 | 60% |
| Employment access & office pipeline | 1.3 | 1.3 | 1.3 | 1.3 | 1.3 | 1.3 | 55% |
| Supply–demand balance | 1.3 | 1.0 | 0.8 | 0.7 | 0.5 | 0.4 | 50% |
| Infrastructure delivery (probability-weighted) | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 55% |
| Project-specific adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 50% |
| Total growth | 9.8% | 8.6% | 7.9% | 7.6% | 7.4% | 7.4% | 56% |
Bengaluru long-run nominal trend: City-wide 2013-25 nominal residential trend ≈ inflation + real income growth.
Locality momentum (mean-reverting): Trailing 3.2-yr locality CAGR 18.0% vs 6.0% trend; 35% carried forward, halving each year.
Affordability ceiling: Ticket at ₹20,200 psf vs city median ₹9,500; buyer pool thins above ₹15k/₹20k psf and after >6pp excess growth.
Employment access & office pipeline: 4 msf office pipeline (3 yr) on 28 msf stock; 30-min jobs index 0.90.
Supply–demand balance: 10 months of unsold inventory; new-launch/absorption ratio 0.6.
Infrastructure delivery (probability-weighted): Old Airport Road widening / Domlur–Marathahalli works (planned, 2028, p=0.4); Blue Line KR Puram–Hebbal (ORR access) (construction, 2027, p=0.65)
Project-specific adjustments: Building age 7 yrs.
Locality evidence: ₹15,500 (Jun 2023) → ₹26,185 (Aug 2026) = 18.0% p.a. Sources: Listing portal (aggregated).
What the public record says
Completed project (RERA PRM/KA/RERA/1251/446/PR/171019/000614); purchase would be a resale. Public records only. Compiled Sep 2026 from the Karnataka RERA file, company registers, rating agencies, tribunal records and press. Facts only; anything that deserves a written answer before signing is flagged.
Meters are rule-based from the RERA file and public ratings (rules shown under each), not opinions.
Group: NCLT admitted an insolvency petition against Embassy Developments Ltd on 9 Dec 2025 (Canara Bank, ₹202 cr guarantee); NCLAT set it aside in May 2026.
Delivered. RERA registration ran 2011-09-22 → 2023-03-31 after 3 extensions (original 2019-06-30)
No RERA complaints on this project; 7 on the promoter overall
No litigation declared in RERA filings
Developer entity Embassy Property Developments Pvt Ltd merged into the listed Embassy Developments Ltd (formerly Equinox India / Indiabulls Real Estate) in 2025.
NCLT admitted an insolvency petition by Canara Bank (₹202.03 cr, corporate guarantee for Sinnar Thermal Power) against Embassy Developments Ltd on 9 Dec 2025; NCLAT stayed it and set the order aside in May 2026 under IBC Section 10A.
Embassy Property Developments’ debentures carried an Acuité BB+ rating (2024), below investment grade; the separately sponsored Embassy Office Parks REIT is CRISIL AAA.
Project is complete with occupancy certificate reported; RERA completion Dec 2023 per the Authority’s document, ready since 2019 per listings.
19 registered resale transactions worth ₹158 cr in the past year: the title chain and association records are the main checks for a buyer.
Insolvency episode (2025–26)
Project record
RERA file · Single phase
Red flags to resolve in writing
The developer group went through an NCLT admission (Dec 2025), later set aside; relevant to warranties, common-area conveyance and any unsold or developer-held units.
Residential arm’s debentures were rated BB+; group risk is above the REIT’s AAA which does not extend here.
Confirm the OC, khata, association formation and that the specific villament is free of developer-level charges.
Questions to put to the developer before you sign
- Provide the OC, BBMP khata and full sale-deed chain for the unit.
- Has the owners’ association taken over maintenance and been conveyed the common areas?
- Are any units in Embassy Grove still developer-owned and mortgaged?
- Any pending claims by the association against the developer for defects or dues?
Full record: every filed number, line by line5 sections · 23 items
Who built it and who stands behind it now
Insolvency episode (2025–26)
Ratings
Project record
RERA file · Single phase
Source: Karnataka RERA project record PRM/KA/RERA/1251/446/PR/171019/000614, fetched 2026-09-15. Figures are the promoter’s own filings.
Sources & caveats3 sources
- Business Standard and legal press on NCLT admission (11 Dec 2025) and NCLAT order (May 2026)
- Acuité rating document for Embassy Property Developments (May 2024); CRISIL rationales for Embassy Office Parks REIT (Dec 2025) and Embassy Construction (Feb 2025)
- Listing portals for RERA number, completion/OC and resale transactions
- Karnataka RERA project records PRM/KA/RERA/1251/446/PR/171019/000614 (registration file, quarterly updates, complaint register), fetched Sep 2026.
Caveats. Court outcomes summarised from press reports, not the orders themselves. Rating on EPDPL debentures is from 2024 and may have changed after the merger. Nothing here is legal, tax or investment advice.
Evidence
Location, jobs & transit5 hubs · metro 2.5 km
| Destination | Drive now | Road km |
|---|---|---|
| MG Road (CBD) | 24 min | 7.3 |
| Koramangala (Forum) | 25 min | 8.6 |
| ORR Bellandur (Ecospace) | 31 min | 12 |
| Electronic City Ph-1 | 39 min | 19.1 |
| Manyata Tech Park | 45 min | 16.5 |
| ITPL Whitefield | 48 min | 18.2 |
| Hebbal (Kirloskar) | 49 min | 15.3 |
| Kempegowda Airport (KIA) | 75 min | 40.7 |
Google Maps driving time with live traffic, measured Sep 2026. Refreshed monthly.
Schools (well-rated, ≤5 km)
- St. Joseph's Boys' High School5.2 km
- Bishop Cotton Boys' School5.6 km
- Neev Academy3.2 km
- New Horizon Gurukul5.8 km
- Vagdevi Vilas School Marathahalli6.8 km
- GEAR Innovative Intl. School6.7 km
Hospitals (≤7 km)
- Manipal Hospitals0.4 km · ★ 4.6 (27,099)
- Chinmaya Mission Hospital2.6 km · ★ 4.4 (10,258)
- Manipal Hospitals Sarjapur Road4.3 km · ★ 4.5 (13,355)
- Narayana Hospital, HSR Layout5.2 km · ★ 4.5 (12,563)
- Rainbow Children's Hospital5.8 km · ★ 4.6 (16,562)
Supermarkets (≤3 km)
- More Supermarket1.2 km · ★ 4 (2,995)
- MK Retail Supermarket2.7 km · ★ 4.2 (6,740)
- Ceekay Supermarket1.4 km · ★ 4.2 (876)
- DMart Koramangala2.9 km · ★ 4.2 (6,472)
Malls (≤9 km)
- Nexus Koramangala Mall4.6 km · ★ 4.4 (1,40,294)
- 1 MG3.7 km · ★ 4 (39,196)
- Centro4.3 km · ★ 4.1 (40,085)
- Gopalan Signature Mall4.5 km · ★ 4.1 (45,826)
Ranked by rating, review count and distance; preschools, coaching centres and clinics are filtered out. Distances are straight-line.
Location used: Google Maps match “Embassy Grove”. Bus coverage and planned-station distances are still interim estimates.
Price historyproject 24% since Sep 2025 · locality 18.0%/yr
| Date | ₹ psf | Source | Confidence | Kind |
|---|---|---|---|---|
| Jun 2021 | 12,000 | Listing portal (aggregated) | 40% | derived |
| Jun 2023 | 15,500 | Listing portal (aggregated) | 45% | observed |
| Jun 2025 | 20,500 | Listing portal (aggregated) | 50% | observed |
| Aug 2026 | 26,185 | Listing portal (aggregated) | 55% | observed · luxury-heavy listing mix; Old Airport Road wider average ₹13,650 |
Model backtest on this locality: 1.2-yr hold-out (Jun 2025→Aug 2026): predicted ₹22,590 vs actual ₹26,185 (-13.7%). Longer 3.2-yr hold-out (Jun 2023→Aug 2026): predicted 9% p.a. vs actual 18% p.a. — the model is deliberately mean-reverting and under-predicted the 2021–26 boom.
Environment, legal & productflood ok · piped water · RERA yes
Adjoins HAL airfield: aircraft noise on flying days; low-density 8-acre enclave HAL airfield next door: periodic aircraft noise; Challaghatta valley pockets flood in cloudbursts; core BWSSB supply
Sources & data gapswhat we know, from where, and what is missing
Unit-level asking prices (₹8.75–11.33 Cr) imply ~₹20,200 psf while the portal average is ₹26,850 psf; both kept, ticket-derived value used. Triplex sizes and rents partly assumed. OC not sighted.
| Field | Value | Source class | Date | Conf. | Kind | Conflicting values |
|---|---|---|---|---|---|---|
| Address | Rustumbagh, Kodihalli, off Old Airport Road, Bengaluru 560017 | Listing portal (aggregated) | Jun 2026 | 75% | observed | |
| Land area (acres) | 7.93 | Listing portal (aggregated) | Jun 2026 | 70% | observed | |
| Total units | 106 | Listing portal (aggregated) | Jun 2026 | 75% | observed | |
| Launch year | 2013 | Platform estimate (interim, not observed) | Sep 2026 | 40% | assumed | |
| Possession · Single phase · 106 villaments | 2019-06 | Listing portal (aggregated) | Jun 2026 | 70% | observed | |
| Price psf · 4 BHK duplex villament · 4,337 sq ft | 20200 | Listing portal (aggregated) | Jun 2026 | 55% | derived | 26850 (Listing portal (aggregated)) |
| Ticket · 4 BHK duplex villament · 4,337 sq ft | 87500000 | Listing portal (aggregated) | Jun 2026 | 60% | observed | |
| Rent · 4 BHK duplex villament · 4,337 sq ft | 320000 | Listing portal (aggregated) | Jun 2026 | 45% | observed | |
| Carpet area | 3250 | Platform estimate (interim, not observed) | Sep 2026 | 40% | assumed | |
| Builder on-time rate | 0.7 | Platform estimate (interim, not observed) | Sep 2026 | 50% | assumed | |
| Litigation | none reported | Platform estimate (interim, not observed) | Sep 2026 | 40% | assumed | |
| Approvals | RERA registered 2017; completed 2019 | Karnataka RERA (number as reported; registry lookup pending) | Jun 2026 | 65% | observed |
Commercial listing portals are shown as “Listing portal (aggregated)”; full provenance is retained internally. Official developer and Karnataka RERA sources are named.