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PropertyLensBengaluru · invest

Investment & due-diligence report · 18 Oct 2026

Orchid Nirvana 3.0

GSG Realty · Devanahalli / Airport Road / Bagalur

DeveloperGSG Realty · #131 in Bengaluru by RERA registrations

LocalityDevanahalli / Airport Road / Bagalur

AddressSY. NO. 17,18/2, 19, 20, 21, 22, 36 & 37 OF UPPARAHALLI VILLAGE, SY. NO. 101/1, 102/1 & 102/2 OF AKKUPETE VILLAGE, , SY.NO. 139 & 140 OF HIRE AMANIKERE VILLAGE & SY. NO. 146(P), 147/1, 147/2, 147/3, 150/1 & 150/2 OF SANNA AMANIKERE VILLAGE, KASABA HOBLI

Typeplot · mid

StatusUnder construction · handover Mar 2027

Homesnot filed

Landnot filed

Launched2023

RERAPRM/KA/RERA/1250/303/PR/020323/005766

Home analysed: Plot · 1163 sq ft. Financing: 75% loan at 8.5% over 20 years, 8-year hold. 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.

Investment score

53/100

Evidence confidence55%

Plot · 1163 sq ft

Price growth per year, next 5 yrs model

11.4%

likely range 7.9%–14.8% · over 10 yrs 10.7%/yr

Net-wealth CAGR, 8-yr hold

7.7%

your cash in → cash back incl. sale, per year

Cash-flow IRR, 8-yr hold

11.7%

with 75% loan · all-cash 10.6% · no interiors

Three numbers, three questions. Price growth: what will the home be worth? Net-wealth CAGR: what will my money have earned after every cost? Cash-flow IRR: the same, but counting when each rupee moves. Tap i on any of them.

Price · edit here or below assumed

Total price in crore₹Cr

Price per sq ft₹ psf × 1,165 sq ft · as of Sep 2026
Price edits apply to ·

All-in cost

₹42.4 L

+ other charges 0.8 L, GST 0.0 L, stamp/reg 2.6 L

Gross rental yield assumed

0.0%

vacant plot: no rent assumed

In plain words

Why 53 out of 100

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:

+
Expected price growth (5-yr CAGR model) · 12/26 pts
We expect prices here to rise about 11.4% a year for the next 5 years (explained below).
+
Legal, title & approvals · 2/5 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 0 items in red.
+
Builder delivery & handover risk · 6/16 pts
GSG Realty has finished 4+ projects and delivered on time about 83% of the time. This phase is still under construction, with handover promised for 2027-03-31: delays would push your rent start back.
−
Employment access · -8/10 pts
Drive times right now: Manyata Tech Park 63 min, Hebbal (Kirloskar) 69 min, ITPL Whitefield 77 min; Electronic City Ph-1 117 min. About 15 million sq ft of new offices are planned nearby in 3 years.
−
Rental demand & yield · -6/8 pts
A plot earns no rent, so this scores low by design.
−
Schools, hospitals, daily needs · -2/3 pts
Schools, hospitals and daily shopping are limited in this area.

All 11 checks

+
Price vs comparables · 1/3 pts
Cheaper than similar mid homes nearby: ₹3,350 vs about ₹6,500 per sq ft.
−
Rental demand & yield · -6/8 pts
A plot earns no rent, so this scores low by design.
•
Resale liquidity · -2/4 pts
Plenty of buyers can afford a ₹39.0 L home, and homes in Devanahalli / Airport Road / Bagalur take time to resell. Reselling before handover needs the builder’s permission.
−
Employment access · -8/10 pts
Drive times right now: Manyata Tech Park 63 min, Hebbal (Kirloskar) 69 min, ITPL Whitefield 77 min; Electronic City Ph-1 117 min. About 15 million sq ft of new offices are planned nearby in 3 years.
−
Metro, bus, rail & airport · -1/9 pts
No working metro nearby (nearest 15 km). Airport is about 15 minutes by road right now.
•
Schools, hospitals, daily needs · -2/3 pts
Schools, hospitals and daily shopping are limited in this area.
•
Builder delivery & handover risk · 6/16 pts
GSG Realty has finished 4+ projects and delivered on time about 83% of the time. This phase is still under construction, with handover promised for 2027-03-31: delays would push your rent start back.
•
Layout, size, age, amenities, maintenance · -0/3 pts
Moderately dense layout (60 homes per acre); about 72% of the area you pay for is usable carpet area. Maintenance ~₹3.5 per sq ft a month.
•
Water, flooding, noise, infrastructure · -0/9 pts
Low flood risk; water supply is mostly borewell or tankers; noise is manageable.
+
Legal, title & approvals · 2/5 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 0 items in red.
+
Expected price growth (5-yr CAGR model) · 12/26 pts
We expect prices here to rise about 11.4% a year for the next 5 years (explained below).

Why prices should grow ~11.4% a year for the next 5 years

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.
+ 1.2%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 ₹3,350 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).
+ 1.9%Add 1.9% for this project itself: unfinished homes are worth more once they are complete.
= 11.4%Result: about 11.4% a year, so a home worth ₹39.8 L today would be worth about ₹68.3 L in 5 years. We are 56% confident in the evidence behind this.

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
Plot 1163 sq ft	1,163 sq ft	1,165 sq ft	₹3,350 assumed	₹39.0 L	—	95
Plot 1476 sq ft	1,476 sq ft	1,475 sq ft	₹3,350 assumed	₹49.4 L	—	72
Plot 1500 sq ft	1,500 sq ft	1,500 sq ft	₹3,350 assumed	₹50.3 L	—	28
Plot 2403 sq ft	2,403 sq ft	2,405 sq ft	₹3,350 assumed	₹80.6 L	—	10
Plot 3009 sq ft	3,009 sq ft	3,010 sq ft	₹3,350 assumed	₹1.01 Cr	—	8
Plot 3611 sq ft	3,611 sq ft	3,610 sq ft	₹3,350 assumed	₹1.21 Cr	—	4

Highlights

GSG Realty · Devanahalli / Airport Road / Bagalur · unit count not filed
Under construction: progress not filed, RERA completion 2027-03-31
No litigation declared · 0 complaints on this registration

Assumptions used prefilled

These are the inputs behind every number above. Open the project page to change any of them.

Purchase

Price per sq ft assumed

₹/sq ft

Total price (base) derived

₹ Cr

Super built-up area assumed

sq ft

Other charges (car park, deposits) assumed

% of base

GST assumed

Stamp duty + registration assumed

Purchase brokerage assumed

Fit-out assumed

₹/sq ft

FinancingLoan 75% · cash 25% · EMI ₹25,910/mo

Loan share of price (rest is your cash) assumed

% loan

Interest rate assumed

% p.a.

Tenure assumed

years

Processing fee assumed

Rent & running costs

Maintenance assumed

₹/sq ft/mo

Property tax assumed

% of rent

Insurance assumed

% of value

Interiors & exit

Do interiors (fit-out)? assumed

Rent uplift from interiors assumed

Interiors cost recovered at sale assumed

Handover (YYYY-MM) observed

Holding period assumed

years

Override price growth assumed

% p.a. (blank = model)

Selling costs assumed

Capital-gains tax assumed

Returns over 8 years · no interiors

Cash you put in₹33.9 L

Exit value (yr 8)₹90.7 L

Net sale after loan & costs₹64.6 L

Net rent after opex₹-1.3 L

Loan (75% of price)₹29.9 L

EMI / month₹25,910

Year	Purchase	Loan in	Opex	Debt service	Sale − loan	Net cash
Today	-6.8 L	3.0 L	0.0 L	0.0 L	0.0 L	-3.8 L
Yr 1	-35.8 L	26.9 L	-0.1 L	-1.4 L	0.0 L	-10.4 L
Yr 2	0.0 L	0.0 L	-0.1 L	-3.1 L	0.0 L	-3.3 L
Yr 3	0.0 L	0.0 L	-0.2 L	-3.1 L	0.0 L	-3.3 L
Yr 4	0.0 L	0.0 L	-0.2 L	-3.1 L	0.0 L	-3.3 L
Yr 5	0.0 L	0.0 L	-0.2 L	-3.1 L	0.0 L	-3.3 L
Yr 6	0.0 L	0.0 L	-0.2 L	-3.1 L	0.0 L	-3.3 L
Yr 7	0.0 L	0.0 L	-0.2 L	-3.1 L	0.0 L	-3.3 L
Yr 8	0.0 L	0.0 L	-0.2 L	-3.1 L	64.6 L	61.3 L

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 vs comparables

+0.8 pts vs avg

this home 7.2/10 · Bengaluru average 6.2 · confidence 35%

₹3,350 psf vs mid comps ₹6,500 (-48%; 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

−5.9 pts vs avg

this home 3.0/10 · Bengaluru average 6.0 · confidence 38%

Gross yield 0.0% (₹0 psf/month); locality rental demand 6/10.

Resale liquidity

−2.1 pts vs avg

this home 6.4/10 · Bengaluru average 7.6 · confidence 50%

Locality resale depth 6/10; ticket ₹0.39 Cr narrows the buyer pool; UC resale needs builder NOC.

Employment access

−7.6 pts vs avg

this home 1.5/10 · Bengaluru average 5.2 · confidence 85%

Drive times now (Google Maps, 2026-09-16): Manyata Tech Park 63 min, Hebbal (Kirloskar) 69 min, ITPL Whitefield 77 min, MG Road (CBD) 84 min; 0 of 7 major hubs within 30 min; 15 msf office pipeline (3 yr).

Metro, bus, rail & airport

−0.8 pts vs avg

this home 4.3/10 · Bengaluru average 4.8 · confidence 60%

none; Blue Line airport terminal station under construction; Airport City (Blue Line) ~2027; airport ~15 min by road now (Google Maps); .

Schools, hospitals, daily needs

−2.0 pts vs avg

this home 5.0/10 · Bengaluru average 7.0 · confidence 50%

Locality social-infrastructure index (interim, expert-set; POI distances pending Maps integration).

Builder delivery & handover risk

+6.5 pts vs avg

this home 6.3/10 · Bengaluru average 3.7 · confidence 60%

GSG Realty: 4+ projects, on-time 83% (derived); handover 2027-03-31 (RERA); within the RERA timeline.

Layout, size, age, amenities, maintenance

−0.4 pts vs avg

this home 7.0/10 · Bengaluru average 7.3 · confidence 50%

60 units/acre; carpet/SBA ~72%; maintenance ~₹3.5 psf/month (assumed).

Water, flooding, noise, infrastructure

−0.1 pts vs avg

this home 5.8/10 · Bengaluru average 5.8 · confidence 50%

Plotted-development heavy; social infrastructure still thin

Legal, title & approvals

+2.3 pts vs avg

this home 8.5/10 · Bengaluru average 7.4 · confidence 55%

RERA registered; litigation: none reported; approvals: Plan BIAPPA/TP/LAO/60/2022-23/2624 dated 2023-02-14; title: not verified. Due-diligence report lists 0 red flags (−0.0 pts).

Expected price growth (5-yr CAGR model)

+12.5 pts vs avg

this home 7.9/10 · Bengaluru average 6.0 · confidence 56%

Model 5-yr price CAGR 11.4% (range 7.9–14.8%).

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)	2.8	1.5	0.8	0.5	0.3	0.1	45%
Affordability ceiling	-0.7	-0.5	-0.3	-0.2	-0.2	-0.1	60%
Employment access & office pipeline	2.4	2.4	2.4	2.4	2.4	2.4	55%
Supply–demand balance	0.0	0.0	0.0	0.0	0.0	0.0	50%
Infrastructure delivery (probability-weighted)	0.4	0.4	0.3	0.2	0.2	0.0	55%
Project-specific adjustments	3.5	1.5	1.5	1.5	1.5	1.5	50%
Total growth	14.4%	11.4%	10.7%	10.3%	10.2%	10.0%	56%

Bengaluru long-run nominal trend: City-wide 2013-25 nominal residential trend ≈ inflation + real income growth.

Locality momentum (mean-reverting): Trailing 3.0-yr locality CAGR 14.0% vs 6.0% trend; 35% carried forward, halving each year.

Affordability ceiling: Ticket at ₹3,350 psf vs city median ₹9,500; buyer pool thins above ₹15k/₹20k psf and after >6pp excess growth.

Employment access & office pipeline: 15 msf office pipeline (3 yr) on 8 msf stock; 30-min jobs index 0.45.

Supply–demand balance: 17 months of unsold inventory; new-launch/absorption ratio 1.36 (from 45 under-construction RERA filings in this locality: 7,627 unsold homes, 1616.1 sold per month).

Infrastructure delivery (probability-weighted): Blue Line KR Puram–Hebbal–Airport (construction, 2027, p=0.65); Satellite Town Ring Road (construction, 2028, p=0.6); Bagalur ITIR / Aerospace expansion (planned, 2030, p=0.5)

Project-specific adjustments: Remaining construction risk (13% work left) re-rates toward ready comps by handover (~1.0% over 0.5 yr). Land in expansion corridors historically outpaces built stock; no depreciation.

Locality evidence: ₹5,400 (Jun 2023) → ₹8,000 (Jun 2026) = 14.0% p.a. Sources: Platform estimate (interim, not observed).

Financial & legal due diligence

What the public record says

Automated from the Karnataka RERA file PRM/KA/RERA/1250/303/PR/020323/005766. Prices and rents are locality estimates, not verified listings. 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.

0 red1 watch6 positive

Open printable due-diligence report ↗

Delivery timeline9/10

no extensions, no overdue dates on the RERA file

Legal & complaints9/10

no litigation and no complaints on the RERA file

Money to finish8/10

finance cost is 0% of the registered budget

Developer strength5/10

no public credit rating for the promoter

Meters are rule-based from the RERA file and public ratings (rules shown under each), not opinions.

Registration

PRM/KA/RERA/1250/303/PR/020323/005766 · GSG REALTY

On original date

No litigation declaredNo complaintsEscrow: ICICI BankJoint-development land

Credit ratings of the people behind it

No public credit rating located for the promoter.

GSG REALTY: no public rating located

Complaints & disputes on record

On this project00 open

On the promoter entity0all projects

Court cases declared0no stay recorded

At a glance

On its original RERA date

On its original RERA completion date: 2027-03-31

No complaints on this project

No RERA complaints on this project; 0 on the promoter overall

No litigation declared

No litigation declared in RERA filings

The record, in pictures

RERA file · Registration

Registered project cost ₹596 cr — where it goes

Approvals ₹0.5 cr · 0%Construction & on-site ₹23.2 cr · 4%Other / taxes ₹572.6 cr · 96%

No litigation declaredBorrowing declared: NoEscrow at ICICI Bank18 recorded land-owner shares

Red flags to resolve in writing

Questions to put to the developer before you sign

Share the latest CA Form 4 and architect Form 5 with the escrow deposit ratio.
Confirm the price list, floor-rise and other charges for the exact unit.
Which date is contractual — 2027-03-31 — and what is the per-month delay compensation?
Confirm there is no litigation on the land or approvals beyond the RERA declaration.
Is the land freehold with the developer, and is any part mortgaged?

Full record: every filed number, line by line1 sections · 9 items

RERA file · Registration

Registration

PRM/KA/RERA/1250/303/PR/020323/005766 · promoter GSG REALTY (Partnership Firm) · GUJAH100527

Dates

Start 2023-02-01 · original completion 2027-03-31 · no extensions

Registered cost

Total ₹596 cr · construction ₹23.20 cr

Borrowing / mortgage declared

Borrowing: No · mortgage: No

RERA bank account

ICICI Bank, Commissariat Road (70% construction account)

Plan sanction

BIAPPA/TP/LAO/60/2022-23/2624 dated 2023-02-14 · BIAPPA - Bangalore Airport Area Planning Authority

Land owners / co-promoters

GSG Realty (100.0%, Sy 18-2); GSG Realty (100.0%, Sy 19); GSG Realty (100.0%, Sy 20); GSG Realty (100.0%, Sy 21); GSG Realty (100.0%, Sy 22); GSG Realty (100.0%, Sy 36); GSG Realty (100.0%, Sy 37); GSG Realty (100.0%, Sy 101-1) +10 more

Litigation declared

None declared in filings

K-RERA complaints

0 on this registration (0 open) · 0 on the promoter entity across all its projects

Source: Karnataka RERA project record PRM/KA/RERA/1250/303/PR/020323/005766, fetched 2026-09-15. Figures are the promoter’s own filings.

Sources & caveats2 sources

Karnataka RERA project record PRM/KA/RERA/1250/303/PR/020323/005766 (registration file, quarterly updates, complaint register), fetched 2026-09-15
PropertyLens locality model (market-level estimates)
Karnataka RERA project records PRM/KA/RERA/1250/303/PR/020323/005766 (registration file, quarterly updates, complaint register), fetched Sep 2026.

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.

Evidence

Location, jobs & transit3 hubs · metro none nearby

Job hubs nearby

Airport city / KIADB aerospace parkBagalur ITIR plannedManyata 25 km

Measured drive times below

Office space

Existing8 msf

Coming in 3 yrs15 msf

Jobs within 30 min5/10

Getting around

Metro today

none; Blue Line airport terminal station under construction

none within 5 km

Metro planned

Airport City (Blue Line)

~2027 70% likely ~4,000 m estimate

Rail

—

estimate

Airport

15 min by road now · 4.1 km

Google Maps

Buses

7/10 coverage

estimate

Drive times to job hubs

Destination	Drive now	Road km
Kempegowda Airport (KIA)	15 min	4.1
Manyata Tech Park	63 min	22.8
Hebbal (Kirloskar)	69 min	24.9
ITPL Whitefield	77 min	28
MG Road (CBD)	84 min	30.7
ORR Bellandur (Ecospace)	94 min	34.6
Koramangala (Forum)	95 min	34.9
Electronic City Ph-1	117 min	43.6

Google Maps driving time with live traffic, measured Sep 2026. Refreshed monthly.

Location used: Google Maps match “”. Bus coverage and planned-station distances are still interim estimates.

Price historylocality 14.0%/yr

No dated project-level price series yet; only the latest observation is on file.

Locality · average ₹/sq ft

Date	₹ psf	Source	Confidence	Kind
Jun 2021	4,200	Platform estimate (interim, not observed)	40%	derived
Jun 2023	5,400	Platform estimate (interim, not observed)	45%	derived
Jun 2025	7,000	Platform estimate (interim, not observed)	50%	derived
Jun 2026	8,000	Platform estimate (interim, not observed)	50%	derived

Luxury comps₹11,000

Premium comps₹8,500

Mid comps₹6,500

Unsold stock17 months

Model backtest on this locality: 1-yr hold-out (Jun 2025→Jun 2026): predicted ₹7,737 vs actual ₹8,000 (-3.3%). Longer 3-yr hold-out (Jun 2023→Jun 2026): predicted 9.7% p.a. vs actual 14% p.a. — the model is deliberately mean-reverting and under-predicted the 2021–26 boom.

Environment, legal & productflood ok · water risk · RERA yes

Flood risklow

Water supplytankers/borewell

Quietok

Roads & drainspatchy

Plotted-development heavy; social infrastructure still thin

Legal & approvals

Registration 005766

RERA PRM/KA/RERA/1250/303/PR/020323/005766

possession Mar 2027

Litigation

none reported

observed

Approvals

Plan BIAPPA/TP/LAO/60/2022-23/2624 dated 2023-02-14

observed

Title

not verified

assumed

Product

Landnull acres

Homesnull

Density60/acre

Launched2023

Sources & data gapswhat we know, from where, and what is missing

Automated analysis: unit mix and carpet areas come from the RERA inventory table; prices and rents are locality-model estimates until listings are verified.

Field	Value	Source class	Date	Conf.	Kind
Address	SY. NO. 17,18/2, 19, 20, 21, 22, 36 & 37 OF UPPARAHALLI VILLAGE, SY. NO. 101/1, 102/1 & 102/2 OF AKKUPETE VILLAGE, , SY.NO. 139 & 140 OF HIRE AMANIKERE VILLAGE & SY. NO. 146(P), 147/1, 147/2, 147/3, 150/1 & 150/2 OF SANNA AMANIKERE VILLAGE, KASABA HOBLI	Karnataka RERA (number as reported; registry lookup pending)	Sep 2026	80%	observed
Land area (acres)		Platform estimate (interim, not observed)	Sep 2026	20%	assumed
Total units		Platform estimate (interim, not observed)	Sep 2026	20%	assumed
Launch year	2023	Karnataka RERA (number as reported; registry lookup pending)	Sep 2026	70%	observed
Possession · Registration 005766	2027-03-31	Karnataka RERA (number as reported; registry lookup pending)	Sep 2026	70%	observed
Price psf · Plot · 1163 sq ft	3350	Platform estimate (interim, not observed)	Sep 2026	35%	assumed
Ticket · Plot · 1163 sq ft	3902750	Platform estimate (interim, not observed)	Sep 2026	35%	derived
Rent · Plot · 1163 sq ft	0	Platform estimate (interim, not observed)	Sep 2026	35%	assumed
Carpet area	1163	Karnataka RERA (number as reported; registry lookup pending)	Sep 2026	60%	observed
Builder on-time rate	0.83	Karnataka RERA (number as reported; registry lookup pending)	Sep 2026	60%	derived
Litigation	none reported	Karnataka RERA (number as reported; registry lookup pending)	Sep 2026	70%	observed
Approvals	Plan BIAPPA/TP/LAO/60/2022-23/2624 dated 2023-02-14	Karnataka RERA (number as reported; registry lookup pending)	Sep 2026	60%	observed

Commercial listing portals are shown as “Listing portal (aggregated)”; full provenance is retained internally. Official developer and Karnataka RERA sources are named.