RERA due-diligence reportKarnataka · prepared 8 Sep 2026
Residential/Group Housing
Sobha Ayana At Dream Acres Wing 60 To 71
by Sobha Limited
Bengaluru East, Bengaluru Urban
- RERA registration
- PRM/KA/RERA/1251/446/PR/030824/006958
- Status
- Approved
- Project type
- Residential/Group Housing
- Location
- Bengaluru East, Bengaluru Urban
- Approved on
- 3 Aug 2024
- Proposed completion
- 31 Dec 2031
- Register snapshot
- 18 Sep 2026
- Filed documents
- 188 on file · 12 machine-read in full
At a glance
| Delivery & schedule | Sound | 23% complete with 16% of scheduled time elapsed |
| Promoter financial strength | Sound | Borrowings 0.8× net worth (FY 2022-23) |
| Approvals & compliance | Watch | Commencement certificate not issued — the filed document is something else |
| Buyer-terms fairness | Concern | Mixes carpet and super built-up area in pricing |
| Money discipline | Watch | Q3 2025-26: withdrew 98% of that quarter's collections |
Compiled from the Karnataka RERA public register and the documents the promoter filed with it. Values marked AI-read were machine-read from scanned filings and cite their source document. Grades are rule-based; see Methodology at the end. This report is information, not legal or investment advice.
pinly · pinly9.khosha.tech/registry/4786
Pinly RERA due-diligence report
Sobha Ayana At Dream Acres Wing 60 To 71
Marketed as SOBHA Ayana
Residential/Group Housing · Bengaluru East, Bengaluru Urban · by Sobha Limited
- RERA registration
- PRM/KA/RERA/1251/446/PR/030824/006958
- Status
- Approved
- Register snapshot
- 18 Sep 2026
- Prepared from
- 188 filed documents12 machine-read in full
Pictures & master plan ↓Executive summary
Five questions before you pay a booking amount
- Concern×1
- Watch×2
- Sound×2
- 23% complete with 16% of scheduled time elapsed
- Proposed completion 31 Dec 2031 (5.3 yrs away)
- Basis: register
- Borrowings 0.8× net worth (FY 2022-23)Balance Sheet (2022-2023), p.1
- Profit after tax ₹95.3 Cr in FY 2022-23Balance Sheet (2022-2023), p.1
- Clean (unqualified) audit opinion, FY 2022-23Auditor's Report (2022-2023), p.2
- Basis: documents
- Commencement certificate not issued — the filed document is something elseCommencement Certificate, p.1
- Plan approval validity ended 20 Jul 2020, project not completeApproved Building/Plotting Plan, p.1
- Plan approved by BBMP (Joint Director Town Planning, North); development plan approved by BDA, 20 Jul 2015Approved Building/Plotting Plan, p.1
- Basis: register + documents
- Mixes carpet and super built-up area in pricingProforma of Agreement for Sale
- 8 buyer-adverse clauses — e.g. Completion period extends for delays by statutory authorities, court orders and government notifications, not just natural calamities (promoter addition to the model form)Proforma of Agreement for Sale
- Booking amount 10% (within the 10% RERA cap)Proforma of Agreement for Sale
- Basis: documents
- Q3 2025-26: withdrew 98% of that quarter's collections
- Withdrew 95% of collections over 3 quarters at 23% reported completion
- Basis: register
Why this report exists. The RERA portal spreads this project across 188 scanned PDFs, quarterly forms and tabs, with no grading and no peer comparison. This report reads them into one place, checks the promoter’s own filings against each other and against 3,168 peer projects, and says plainly where the record is thin.
Grades are rule-based and shown with their reasons — see Methodology. Not legal or investment advice.
Snapshot
The project as registered, in one table. Every figure is from the Karnataka RERA register unless marked AI-read.
Registration particulars
- Registration no.
- PRM/KA/RERA/1251/446/PR/030824/006958
- Project type
- Residential/Group Housing
- District
- Bengaluru Urban
- Taluk
- Bengaluru East
- Approved on
- 3 Aug 2024
- Construction start (declared)
- 1 Sep 2025
- Proposed completion
- 31 Dec 2031
- FAR
- 2.25
- Towers
- 12
“SOBHA Ayana at Dream Acres Wing 60 to 71 consists of 683 flats” — project description as filed
Project, plans & floor plans
What SOBHA Ayana looks like on paper — pictures, master plan and location as published by the developer and in the RERA filing. Marketing material, credited to its source; nothing here is graded or verified.
As stated by the developer · sobha.com
- Marketed as
- SOBHA Ayana
- Configurations
- 3 Bed Residences | 1553 – 1789 Sq.Ft.
- Price (developer's quote)
- Starting From INR 2.3 Cr*
- Possession (developer's claim)
- SOBHA AYANA will be completed by Dec 2031.
- Locality
- Panathur, Off Marathahalli-ORR, Bengaluru
- RERA no. printed on the developer’s page
- this registration is listed
- Clubhouses
- Activity Arena
- Celebration Court
- Yoga Lawn
- Camping Grounds
- Tranquillity Valley
Marketing claims, copied as written on 2026-10-21. Prices and dates are the developer’s and are not verified by Pinly or RERA — the registered completion date and filed figures are in the sections that follow.
Master plan
Location
Images belong to their publishers; each links back to the page it came from.
Approvals & plans
Who approved what, and what the approved plan actually allows. Plan details are machine-read from the filed layout / building plans and certificates.
Approval on record
- Approving authority
- BBMP - Bruhat Bengaluru Mahanagara Palike
- Plan no. (register)
- BBMP/Addl. Dir./JDN/LP/0455/2014-15
- Plan approved (register)
- 20 Jul 2015
- Approval no. (plan)
- BBMP/Addl.Dir/JD NORTH/LP/0455/2014-15
- Approval date (plan)
- 20 Jul 2015
- Plan valid until
- 20 Jul 2020lapsed before the register snapshot
- Commencement certificate
- 7 Jun 2024 · BBMP Joint Director Town Planning (North) — endorsement, NOT a commencement certificate
AI-read fromApproved Building/Plotting Plan, p.1;Approved Layout Plan, p.1;Commencement Certificate;Commencement Certificate, p.1high confidence
NOCs & clearances
All applicable NOCs approved as of the Q1 (2026-27) quarterly filing.
| NOC on file | Issued by | Date |
|---|---|---|
| Fire | Karnataka Fire Force Department (GBC(1)/58/2014) | 29 Apr 2015 |
| AAI height | Airports Authority of India | 10 Mar 2015 |
| BSNL | BSNL | 15 Mar 2014 |
AI-read fromApproved Building/Plotting Plan, p.1;Approved Layout Plan, p.1;Commencement Certificatehigh confidence
Land use in the approved plan
- Total site area as per documents (whole Dream Acres development) (other) · 3,28,551 m²100%
- Area reserved for proposed 18 m & 24 m RMP road (roads) · 16,571 m²5%
- Area reserved for proposed 18 m & 9 m public road (roads) · 4,921 m²1.5%
- Parks & open spaces (11 parcels) (parks & open space) · 30,762 m²9.4%
- Civic amenities (5 parcels) (civic amenity) · 15,382 m²4.7%
- Achieved ground coverage of all blocks (built footprint) · 50,966 m²15.5%
Road widths on plan: 9 m, 18 m, 24 m.
AI-read fromApproved Building/Plotting Plan, p.1high confidence
Building as approved
- Blocks / towers
- 12
- Floors
- Wings 60-66, 69, 70: 2BF+GF+14UF; Wings 67-68: 2BF+GF+11UF; Wing 71: 2BF+GF+13UF
- Units
- 683
- FAR permitted
- 2.25
- FAR achieved
- 2.245
- Ground coverage
- 16.59%
- Height
- 44.85 m
- Parking slots
- 7,375
| Unit type | Count | Carpet (sq ft) | Share |
|---|---|---|---|
| Whole development: Type A 1 BHK | 81 | — | 1% |
| Whole development: Type A 2 BHK | 3,592 | — | 51% |
| Whole development: Type B 1 BHK | 40 | — | 1% |
| Whole development: Type B 2 BHK | 1,995 | — | 28% |
| Whole development: Type C 3 BHK | 387 | — | 6% |
| Whole development: Type D 3 BHK | 296 | — | 4% |
| Whole development: EWS units (10% mandated) | 635 | — | 9% |
AI-read fromApproved Building/Plotting Plan, p.1;Approved Layout Plan, p.1high confidence
Conditions attached to the approval
- Commencement certificate for Wings 60-71 NOT yet issued: BBMP inspection on 03-06-2024 found only excavation; CC to follow after column footings and RCC columns are built.
- Building plan sanctioned 20-07-2015 for all 71 wings (6,945 units incl. 635 EWS); construction was to finish within 5 years of the licence — this phase is starting ~9 years later.
- KSPCB, BWSSB, BESCOM and SEIAA NOCs must be submitted before the commencement certificate (sanction condition 39).
- Licence and fee demand Rs 21,77,82,000 paid 07-07-2015; balance improvement charges payable in 3 instalments.
- Basement parking cannot be converted; 7,375 car parks across the development (2 basements + 695 surface visitor slots).
Not read: Approved Layout Plan (BDA development plan duplicates the building-plan area statement (read from the building plan's text layer instead).).
Site & massing (register)
- Built-up (all floors)1,02,057 m²
- Carpet (all floors)75,524 m²
- Plinth7,075 m²
The filed plans & approvals
Schedule & progress
The promoter's own dates, and what its quarterly filings say happened against them.
Timeline
- Approved3 Aug 2024
- Start (declared)1 Sep 2025
- Report as-of8 Sep 2026
- Proposed completion31 Dec 2031
- Possession promised in agreement
- 31-12-2031, or such extended date as approved by RERA Karnataka
- Grace period
- No fixed grace period; completion period extends for force majeure and, added by the promoter, for delays by statutory authorities, court orders and government notifications
AI-read fromProforma of Agreement for Salehigh confidence
Reported completion by quarter
| Q3 2025-26 | 4% |
|---|---|
| Q4 2025-26 | 20% |
| Q1 2026-27 | 23% |
Quarterly filings
Civil work schedule
| Work | Applicable | From | To |
|---|---|---|---|
| Earth work and other leveling preparation work | Yes | 1 Sep 2025 | 5 Jul 2028 |
| Foundation footing work | Yes | 1 Dec 2025 | 4 Sep 2028 |
| Upto Plinth Level | Yes | 30 Jan 2026 | 3 Dec 2028 |
| Sub-structure flooring (Parking Floor, more than one floor below general ground level) | Yes | 31 Mar 2026 | 3 Mar 2029 |
| Retaining wall (All types) | No | — | — |
Civil work progress by item
| Work | Q3 (2025-26) | Q4 (2025-26) | Q1 (2026-27) | Actual start |
|---|---|---|---|---|
| Earth work and other leveling preparation work | 37% | 100% | 99% | 15 Feb 2025 |
| Foundation footing work | 25% | 54% | 91% | 22 Mar 2025 |
| Upto Plinth Level | 17% | 27% | 37% | 16 May 2025 |
| Sub-structure flooring (Parking Floor, more than one floor below general ground level) | 17% | 23% | 37% | 16 May 2025 |
Register findings
computed against the whole registerCompletion moved from 4% (Q3 2025-26) to 20% (Q4 2025-26) — the only change visible in this dataset's 3-quarter window.
Money & escrow
RERA requires 70% of what buyers pay to sit in a project account, withdrawn only in step with construction. This is what the promoter filed it collected and withdrew.
Buyer money in vs out, by quarter
- Collected from buyers
- Withdrawn by promoter
| Quarter | Collected | Withdrawn | W ÷ C | Built |
|---|---|---|---|---|
| Q3 2025-26 | ₹10.9 Cr | ₹10.7 Cr | 98% | 4% |
| Q4 2025-26 | ₹30.5 Cr | ₹29.9 Cr | 98% | 20% |
| Q1 2026-27 | ₹38 Cr | ₹34.7 Cr | 91% | 23% |
| Total | ₹79.3 Cr | ₹75.2 Cr | 95% | 23% |
Cost incurred, as filed
- Other NOC₹5.56 Cr49%
- Project Approvals₹3.39 Cr30%
- Cess₹1.9 Cr17%
- Commencement certificate₹39 L3%
- NOC-From KSPCB₹7.5 L1%
Quarterly cost update — Q1 (2026-27)
| Particulars | Estimated | Actual |
|---|---|---|
| Estimated Cost of Construction as certified by Engineer | ₹632 Cr | — |
| Payment of taxes | ₹87.6 Cr | — |
| On-site expenditure-Site Overhead | ₹63.2 Cr | — |
| Principal sum and interest payable to financial institutions-Scheduled Banks | ₹42 Cr | — |
This filing repeated one actual-cost figure across most line items rather than breaking it out, so actual cost isn’t shown per category.
Promoter & financials
Who is behind the project, and whether their own audited accounts — filed with RERA but never summarised by it — show the capacity to finish.
Promoter on record
- Name
- Sobha Limited
- Firm type
- Company
- Registered projects
- 121
- Districts
- Bengaluru Rural, Bengaluru Urban, Mandya
- Active
- 2017–2026
- Main objectives
- Construction
- Firm registration no.
- L45201KA1995PLC018475
Track record across the promoter's portfolio
computed against the whole register126 of 153 reported quarters across its projects withdrew more than RERA's 30% ceiling (82.4%).
Sobha Limited: 121 registered projects — top 1% of 5200 Karnataka RERA promoters by count (rank 2).
#2 of 5,200 · 121
#1 developer by project count in Bengaluru Urban — 110 projects among 2317 promoters active there.
#1 of 2,317 · 110
Cost incurred to date across its portfolio: ₹214.3Cr — filed by 45 of its 121 projects. This is money spent so far, not total project value.
Median cost incurred per project: ₹2.9Cr (over the 45 of 121 projects that filed one).
Largest by cost incurred: “ONE RESIDENCES AT SOBHA ONE WORLD Ph1 W1 and 2” in Bengaluru Rural, ₹16.6Cr.
96.7% of its 121 projects are residential/group housing.
Total declared project value: ₹31,616.1Cr across 121 of its 121 projects. This is the whole estimated cost of those projects as filed, not money spent.
Median declared project value: ₹182.5Cr (over the 121 of 121 projects that filed one).
Audited financials, 3 years
| ₹, as filed | FY 2020-21 | FY 2021-22 | FY 2022-23 |
|---|---|---|---|
| Revenue | ₹2097 Cr | ₹2547 Cr | ₹3328 Cr |
| Profit after tax | ₹65.5 Cr | ₹169 Cr | ₹95.3 Cr |
| PAT margin | 3.1% | 6.6% | 2.9% |
| Net worth | ₹2143 Cr | ₹2278 Cr | ₹2341 Cr |
| Borrowings ÷ net worth | — | — | 0.8× |
| Customer advances | — | ₹4039 Cr | ₹5088 Cr |
| Inventory & WIP | ₹7139 Cr | ₹7283 Cr | ₹8287 Cr |
| Cash & bank | ₹197 Cr | ₹173 Cr | ₹440 Cr |
| Operating cash flow | ₹641 Cr | ₹803 Cr | ₹1173 Cr |
AI-read fromBalance Sheet (2022-2023), p.1;Audited Profit and Loss Statement (2021-2022), p.1;Cash Flow Statement (2021-2022), p.1;Audited Profit and Loss Statement (2022-2023), p.1;Cash Flow Statement (2022-2023), p.1medium confidence
Auditor’s opinion
| FY | Auditor | Opinion | Remarks |
|---|---|---|---|
| 2022-23 | Walker Chandiok & Co LLP | Unqualified (clean) | Emphasis of matter: Income Tax Department search at company and group premises in March 2023; impact on the accounts not ascertainable. FY2021-22 and opening FY2021 balances restated for correction of errors (Note 45); auditor changed from B S R & Co. LLP. source |
| 2021-22 | B S R & Co. LLP | Unqualified (clean) | Emphasis of matter: joint development agreement on a Haryana (DTCP-licensed) township where the licence rests with the landowners (note 40). source |
| 2020-21 | B S R & Co. LLP | Unqualified (clean) | Auditor's Report (2020-2021) |
From the directors’ report
- Statements are for listed Sobha Limited (standalone), not a project SPV: totals cover every Sobha project, not Ayana alone.
- FY2021-22 profit restated in the FY2022-23 accounts from ₹1,526.6 mn to ₹2,310.7 mn PBT (revenue ₹27,141 mn → ₹25,471 mn).
- Customer advances (₹50,878 mn) exceed twice the net worth (₹23,411 mn) at 31 Mar 2023: buyers fund a large share of the balance sheet.
- Total borrowings cut from ₹29,292 mn (Apr 2021) to ₹19,394 mn (Mar 2023).
- Board recommended a dividend of ₹3.00 per share for FY2022-23.
Not read: Cash Flow Statement (2020-2021) — Not filed on the register for this FY; FY2020-21 operating cash flow taken from the FY2021-22 statement's comparative column.
Professionals on record
| Role | Name | Since |
|---|---|---|
| chartered accountant | D Balaji | 2006 |
| engineer | Balakrishnan G | 2019 |
Certifying professionals
computed against the whole registerIts engineer, Balakrishnan G, is also the certifying engineer on 27 other RERA projects statewide.
Buyer terms
What the promoter's own draft sale agreement commits the buyer to — the document most buyers sign without reading.
Clauses that tilt against the buyer
- Completion period extends for delays by statutory authorities, court orders and government notifications, not just natural calamities (promoter addition to the model form)
- BESCOM/BWSSB infrastructure costs and deposits are 'Other Charges' and 'Statutory Payments' payable over and above the sale price
- Promoter keeps Civic Amenity sites 1-4 (~11,972 sq m) and ~7,020 sq m of the substation land to build on as it sees fit; layout roads may serve its future developments
- Unsold/unallotted car parks belong to the promoter, which can sell extra parking to other buyers; your car park is only a right of use the promoter may reallocate
- Five clubhouses are built in phases; full amenities only after the whole 81-acre Dream Acres development completes, and early phases pay full club maintenance meanwhile
- No resale/assignment for 1 year from booking or payment of 30% (whichever later), then a per-sq-ft transfer fee
- Undivided share in land may change as phases are integrated
- Rs 5,000 charge for missing a fixed registration date; Rs 1,000 / Rs 2,000 for first / later cheque bounce
Protections beyond the RERA minimum
- Same interest rate (SBI MCLR + 2%) both ways
- Buyer may stop paying if the promoter misses construction milestones, and resume without interest once they are met
- Tax or development-charge increases after the scheduled completion date are not charged to the buyer
- Carpet-area shortfall refunded with interest within 60 days; increases capped at 3%
Delay interest — who pays whom
Same headline rate both ways (SBI MCLR + 2%, the Karnataka RERA Rules rate).
- Promoter pays buyer, late handover
- SBI highest MCLR + 2% p.a. for every month of delay until possession, payable within 60 days of falling due (or full refund with interest if the buyer withdraws)
- Buyer pays promoter, late instalment
- SBI highest MCLR + 2% p.a. on unpaid amounts; default after two consecutive unpaid demands despite notice
Key terms
- Booking amount
- 10% of price
- Price basis
- Mixed carpet / super built-up
- On buyer cancellation
- Booking amount (10% of sale consideration + cost of construction) forfeited, plus taxes, statutory payments, administrative charges and interest deducted; balance refunded within 60 days of registering a cancellation deed
- Possession promised
- 31-12-2031, or such extended date as approved by RERA Karnataka
- Grace period
- No fixed grace period; completion period extends for force majeure and, added by the promoter, for delays by statutory authorities, court orders and government notifications
- Defect liability
- 5 years from occupancy certificate or handover (handover within 60 days of OC); promoter to rectify within 30 days. Superficial cracks, wear and tear excluded; voided by buyer alterations to plumbing/fittings
- Maintenance / deposits
- Maintenance deposit per unit (amount blank) retained by promoter, only its interest used for upkeep; plus interest-free advance maintenance charges collected with the final payment request
Amenities promised
Clubhouse and swimming pool access (one of 5 clubhouses across Sobha Dream Acres, built in phases)
AI-read fromProforma of Agreement for Salehigh confidence
Not read: Proforma of Agreement for Sale — Annexure VI payment plan, Annexure III/IV specifications — Left blank in the filed proforma ('to be incorporated by the concerned departments')
Land & ownership
Who owns the land under the project, and where it is. Owner names are shown only where cross-verified.
Ownership
- Owners on record
- 13
- Largest share
- 100%
- Smallest share
- 100%
Owner names and addresses are excluded from this view.
How the shares are filed
The 13 filed shares add up to 1,300%, so each is a share of one survey parcel, not of the whole site — no single split of the project can be drawn from them.
| Share held | Owners |
|---|---|
| 100% | 13 |
Location
- Address
- Sy No. 54/3, 55/1, 55/2, 58/1, 58/2, 58/3, 59/2, 59/3, 59/4, 59/5, 60/2, 61, 63/1 Hadosiddapura Village, and Sy. No 31/1 Chikkannelli Village
- PIN code
- 560103
- Coordinates
- 12.932014, 77.72549
Survey numbers
50/2 · 50/4 · 50/5 · 50/6 · 51/1 · 51/2B1 · 51/2B2 · 51/2C1 · 51/2C2 · 51/3 · 51/4 · 53/1 · 53/2
Register findings
computed against the whole registerAssembled from 13 landowners — 6.5× the Bengaluru Urban median of 2 (n=2045).
#161 of 2,045 · 13
Despite 13 listed landowners, one holds a 100.0% controlling share.
Peer benchmark
Against 3,168 registered Residential/Group Housing in Bengaluru Urban projects — the comparison the RERA portal does not make.
| Measure | This project | Peer median | Position | Peers |
|---|---|---|---|---|
| Land area | — | 1.52 ac | — | 1,968 |
| Open space | — | 53.9% | — | 1,902 |
| Units | 683 | 120 | above 95% | 1,192 |
| Cost incurred (filed) | ₹11.3 Cr | ₹1.6 Cr | above 91% | 1,160 |
| Reported completion | 23% | 63% | above 20% | 951 |
| Withdrawn ÷ collectedlower keeps more buyer money in the project | 91% | 88% | above 53% | 836 |
| Past proposed completion | No | 64% of peers | — | 3,076 |
Rankings & rarity
computed against the whole registerDeclared project value is 26.3× the Bengaluru Urban median (₹43.8Cr, n=4090) — well above typical.
#42 of 4,090 · ₹1150 Cr
Declared project value is 33.6× the Residential/Group Housing projects statewide median (₹34.3Cr, n=4725) — well above typical.
#33 of 4,725 · ₹1150 Cr
Filed documents
188 documents are on file with RERA for this project; the 18 key filings are indexed here, 12 of them machine-read into this report. Each opens the original on the RERA portal.
Approvals & plans
Financial statements
- Balance Sheet (2022-2023)AI-read
- Balance Sheet (2021-2022)on file
- Balance Sheet (2020-2021)on file
- Audited Profit and Loss Statement (2022-2023)AI-read
- Audited Profit and Loss Statement (2021-2022)AI-read
- Audited Profit and Loss Statement (2020-2021)on file
- Director's Report (2022-2023)on file
- Director's Report (2021-2022)on file
- Director's Report (2020-2021)on file
- Cash Flow Statement (2022-2023)AI-read
- Cash Flow Statement (2021-2022)AI-read
- Auditor's Report (2022-2023)AI-read
- Auditor's Report (2021-2022)AI-read
- Auditor's Report (2020-2021)AI-read
Buyer documents
Methodology & sources
Register data. Project, promoter, quarterly and site fields come from RERA Atlas’s build of the Karnataka RERA public register and the authority’s open-data detail endpoint, snapshot of 18 Sep 2026 (pid 4786). Schedule figures are measured to 8 Sep 2026, the reference date the register findings use.
Filed documents. The promoter’s PDFs on the RERA portal are scanned images with no text layer, many in Kannada. Values marked AI-read were machine-read from those scans by a vision model, converted to whole rupees, and cite the document (and page, where known) they came from, with a confidence grade. They can contain reading errors: check the linked original before relying on any one figure. Last extraction: 17 Oct 2026.
Privacy. PAN, GSTIN, Aadhaar, bank account numbers, signatures and personal addresses are never extracted or shown. For individual filers, only totals are shown.
Not advice. This report summarises public filings. It is not legal, financial or investment advice, and does not say whether anyone has broken a law.
How the five grades are set
- Delivery & schedule
- Concern: more than 12 months past the proposed completion date filed with RERA, or reported completion fell between two quarterly filings.
- Watch: past the proposed completion date by up to 12 months; a quarter with no reported progress; or reported progress more than 20 points behind the share of scheduled time elapsed.
- Sound: reported 100% complete, or on pace with the filed schedule.
- Insufficient data: no completion date, or not yet due and no progress filed.
- Promoter financial strength
- Concern: negative net worth; borrowings above 3× net worth; an adverse / disclaimer audit opinion or a going-concern doubt.
- Watch: borrowings 1.5–3× net worth; a loss in the latest year; a qualified opinion; negative operating cash flow in the latest year.
- Sound: none of the above in the latest year read.
- Insufficient data: no audited statements machine-read yet, or no net worth legible.
- Approvals & compliance
- Concern: registration revoked or withdrawn.
- Watch: NOCs pending in the latest quarterly filing; plan approval validity ended before completion; filed completion date earlier than approval date.
- Sound: a plan approval / commencement certificate is on file and nothing above applies.
- Insufficient data: no approval evidence on file or read.
- Buyer-terms fairness
- Concern: booking amount above 10% (RERA s.13 cap before a registered agreement); sale priced on super built-up rather than carpet area; four or more buyer-adverse clauses.
- Watch: buyer pays a higher delay-interest rate than the promoter, or the promoter's delay interest is conditional ("only for proven willful delay") while the buyer's is automatic; no promoter delay interest stated; one to three buyer-adverse clauses; mixed area basis.
- Sound: none of the above in the filed agreement.
- Insufficient data: agreement for sale not machine-read yet.
- Money discipline
- Concern: in some filed quarter the promoter withdrew more than it collected from buyers (escrow breach finding).
- Watch: a quarter withdrawing over 30% of collections (escrow watch finding), or cumulative withdrawals more than 15 points ahead of reported completion.
- Sound: withdrawals within those limits across every filed quarter.
- Insufficient data: no quarterly collection / withdrawal figures filed.