Due diligence on a developer takes an afternoon and saves years of regret. Whether you are evaluating Sobha Athena or any other project in Bangalore,...
Due diligence on a developer takes an afternoon and saves years of regret. Whether you are evaluating Sobha Athena or any other project in Bangalore, the same six checks apply, and all of them can be done before you speak to a single sales representative.
Start with the RERA portal. Every legally marketable project carries a registration number — this one is PRM/KA/RERA/1251/309/PR/200526/003430 — and the filing records declared areas, project cost, promoter details and the completion date. Check that the marketed name matches the registered name, since projects are often registered under a different title, and read the quarterly progress updates. See our contact page for the full detail.
Second, check the promoter's other registrations. The portal lists projects by promoter, which lets you see how many the company has registered, how many have been completed, and whether completion dates have been extended. Extensions are not automatically a red flag — Covid relief was widely granted, including on this project — but a pattern of repeated revisions across many projects is worth noting.
Third, look for complaints. The authority publishes complaint data against registered projects, and while the existence of a complaint proves nothing on its own, volume and subject matter are informative. A cluster of complaints about the same issue across several projects says more than an isolated dispute.
Fourth, read the financials if the developer is listed. Sobha Limited trades on the NSE and BSE under CIN L45201KA1995PLC018475, so quarterly results, disclosures and any delays are public. For unlisted developers this check is unavailable, which is itself a consideration.
Fifth, visit delivered projects rather than sales galleries. Walk buildings the developer handed over five or more years ago, examine the common areas, the lifts and the external finishes, and ask residents about water supply, power back-up, security staffing and maintenance charges. Here, earlier phases of Sobha City, Thanisandra make that check straightforward.
Sixth, read the agreement to sell before paying anything beyond a nominal booking amount. Check that the specification matches what you were shown, that the completion date matches the RERA filing, and that payment milestones are tied to construction rather than to dates alone. Have a lawyer read it if the sum involved is significant, which it invariably is.
Our team will provide the filing and arrange the delivered-project visit without being asked twice. A developer or representative reluctant to support these checks has told you something useful.
Related reading: our assessment of Sobha as a builder.
Where do I verify a project officially?
On the Karnataka RERA portal, using the registered project name and number rather than the marketing name.
Are completion date extensions a red flag?
Not individually. Covid relief was widely granted. A pattern of repeated revisions across many projects is more telling.
Can I see complaints against a builder?
The authority publishes complaint data against registered projects. Look at volume and subject matter rather than isolated cases.
What is the single best check?
Visiting a project the developer delivered five or more years ago and speaking to the residents who live there.
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