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FORTUNE LOTUS COMMERCIAL VENTURE
RG-KA-45874 · RERA PRM/KA/RERA/1273/319/PR/120123/005612 · Last updated on RERA Karnataka portal: Not stated
Source: official RERA Karnataka filing
Red flags
- No red flags in this filing
Clear
- No litigation declared
- No complaints on record
- Completion date never moved
- Separate project account declared
Saved.
FORTUNE LOTUS COMMERCIAL VENTURE is a Commercial project by FORTUNE PROMOTERS in Udupi, Karnataka, registered with RERA Karnataka as PRM/KA/RERA/1273/319/PR/120123/005612 on 12 Jan 2023. Possession is promised by 31 Dec 2023. 0 of the 17 units on this registration are recorded sold or booked, and 0 of 14 construction stages are filed complete.
At a glance
Project
- NameFORTUNE LOTUS COMMERCIAL VENTURE
- TypeCommercial
- Location
- Karkala
- Udupi
- PincodeNot stated
- RERA no.PRM/KA/RERA/1273/319/PR/120123/005612
- ReraGenie IDRG-KA-45874
Key dates
Key facts
Registration and timeline
- StatusRegistration approved
- Registered on12 Jan 2023
- Promised completion31 Dec 2023
- Revised completionNone
- Buildings1 building record
- Documents filed83 files
Current status
Figures as on Not stated, this project's latest RERA Karnataka filing.
Buildings and wings, as sanctioned
| Building | Wing | Floors sanctioned | Habitable floors | Residential units | Other units | Total |
|---|---|---|---|---|---|---|
| FORTUNE LOTUS COMMERCIAL VENTURE | - | - | - | 0 | 17 | 17 |
The full filing
Everything below is from the project's own RERA Karnataka filing, free to read.
Construction progress by building1
As on Not stated, the date of the latest filing. The RERA activity checklist for each building, from the promoter's latest quarterly progress filing. These are the promoter's own figures, not an independent inspection.
0 of 14 construction stages are filed complete. The stage furthest along is Earth work and other leveling preparation work, at 0%.
Building: 0% average across the applicable activities
| Activity | Progress |
|---|---|
| Earth work and other leveling preparation work | - |
| Foundation footing work | - |
| Upto Plinth Level | - |
| Sub-structure flooring (Parking Floor, more than one floor below general ground level) | - |
| Retaining wall (All types) | Not applicable |
| RCC or MS Framed structure | - |
| Masonry Construction | - |
| Plastering inside , outside & Ceiling | - |
| Joinery: Doors, Windows, Ventilators etc | - |
| Basic work of Water supply, Sanitary and Electrification | - |
| Dadoing, Skirting, Flooring, Tiles work (All types) | - |
| Railing and Grill fixing | - |
| Electrification, Water supply and Sanitary Finishing | - |
| Painting | - |
| Fire prevention and fire fighting fitting and fixture with network | Not applicable |
| Weather Proof work(tile,concrete) | Not applicable |
| Wardrobe, Showcase, Kitchen cabinet, Puja work | Not applicable |
| Elevation work | - |
| Internal and External work including landscapes as per sanctioned drawings | Not applicable |
Progress on shared amenities40
As on Not stated, the date of the latest filing. Lifts, roads, water and the other shared works, from the same quarterly filing, and reported by the promoter rather than inspected.
| Common facility | Proposed | Progress |
|---|---|---|
| Water Supply | Yes | - |
| Sewage and Drainage System | Yes | - |
| Water conservation/rain water harvesting/recharge of ground water | Yes | - |
| Energy management | No | Not applicable |
| Fire protection and fire safety requirements | No | Not applicable |
| Solid waste management and disposal | No | Not applicable |
| Emergency Evacuation services | No | Not applicable |
| Internal Roads & Footpaths | No | Not applicable |
| Electricity supply transformer and substation | Yes | - |
| Storm water drains | No | Not applicable |
| Use of renewable energy | No | Not applicable |
| Sewage Treatment Plant (STP) | Yes | - |
| Parks & Tree planting | No | Not applicable |
| Street Lighting | No | Not applicable |
| Electricity | Yes | - |
| Smart Home Automation | No | Not applicable |
| CCTV Surveillance | Yes | - |
| Club House | No | Not applicable |
| Community Hall | No | Not applicable |
| Outdoor Sports facility | No | Not applicable |
| Indoor Sports facility | No | Not applicable |
| Swimming Pool | No | Not applicable |
| Gym | No | Not applicable |
| Parks | No | Not applicable |
| Power Backup | No | Not applicable |
| Piped Gas | No | Not applicable |
| Water and Sanitation | No | Not applicable |
| Air Conditioning | No | Not applicable |
| Staircases | Yes | - |
| Lifts | No | Not applicable |
| Corridor/Lobbies | No | Not applicable |
| Fire escapes | No | Not applicable |
| Common entrance and exit for the building/common portico/foyer/verandah | No | Not applicable |
| Basement | No | Not applicable |
| Terrace | No | Not applicable |
| Outer Wall | No | Not applicable |
| Open parking areas | No | Not applicable |
| Provision for lodging of management staff and security staff | No | Not applicable |
| Water conservation and renewable energy | No | Not applicable |
| Common storage spaces | No | Not applicable |
Land and ownership1
This page carries no encumbrance declaration for this project. That is silence on the question, and not a record of clear land.
| Landowner | Village | District |
|---|---|---|
| FORTUNE PROMOTERS | - | - |
Project account and cost
70 percent of buyer money must sit in the project account, so check that your agreement for sale names a designated account for this project and pay into that account only.
| Building | Wing | Estimated | Incurred |
|---|---|---|---|
| - | NA | Rs 2.06 cr | - |
| - | NA | Rs 30.00 lakh | - |
| - | NA | Rs 5.33 lakh | - |
| - | NA | Rs 4.79 lakh | - |
Certifying professionals and partners3
Certificates from these professionals release the promoter's withdrawals from the 70 percent account.
| Role | Name |
|---|---|
| Architect | DIVAKARA SHETTY |
| Engineer | DIVAKARA SHETTY |
| Chartered Accountant | UMESH RAO |
Complaints filed with RERA Karnataka
No complaints on record against this registration.
Documents filed83
As listed on the registration, under the names the promoter filed them with; the newest 80 of 83 are shown. The files themselves are available at source: search the registration number PRM/KA/RERA/1273/319/PR/120123/005612 on the RERA Karnataka portal. We publish what the filing says and never host the promoter's documents in place of it.
| Document | Uploaded |
|---|---|
| RTC, survey 82/5B | - |
| Mutation, survey 82/5B | - |
| Encumbrance Certificate, survey 82/5B | - |
| Conversion/Alienation Order, survey 82/5B | - |
| Sale/Title/Gift Deed, survey 82/5B | - |
| Khatha, survey 82/5B | - |
| Registration CertificateFile: Firm Registration.pdf | - |
| Partnership DeedFile: Partnership Deed_compressed.pdf | - |
| Partner Details | - |
| Partner Details | - |
| Partner Details | - |
| Partner Details | - |
| Partner Details | - |
| Partner Details | - |
| Partner Details | - |
| Partner Details | - |
| Certificate issued by CA Form 1File: form 1 ca certificate final.pdf | - |
| Certificate issued by Architect Form 2File: architect form 2.pdf | - |
| Certificate issued by Engineer Form 3File: engineer form 3.pdf | - |
| Project Chartered Accountant | - |
| Project Engineer | - |
| Project Architect | - |
| AffidavitFile: litigation affidavit.pdf | - |
| Certificate from Chartered AccountFile: form 1 ca certificate final.pdf | - |
| Balance Sheet 2021 - 2022File: BS AY 2022-23.pdf | - |
| Balance Sheet 2020 - 2021File: Balance Sheet 20-21.pdf | - |
| Balance Sheet 2019 - 2020File: Balance Sheet 19-20.pdf | - |
| Audited Profit and Loss Statement 2021 - 2022File: PL AY 2022-23.pdf | - |
| Audited Profit and Loss Statement 2020 - 2021File: P_L Statement 20-21.jpg | - |
| Audited Profit and Loss Statement 2019 - 2020File: P_L Statement 19-20.pdf | - |
| Cash Flow Statement 2019 - 2020File: Cash Flow 19-20.pdf | - |
| Auditor's Report 2021 - 2022File: Audit Report AY 2022-23_compressed.pdf | - |
| Auditor's Report 2020 - 2021File: Audit Report 20-21.pdf | - |
| Auditor's Report 2019 - 2020File: Audit Report 19-20.pdf | - |
| Income Tax Return Acknowledgement 2021 - 2022File: ITR 2022-23.jpg | - |
| Income Tax Return Acknowledgement 2020 - 2021File: Tax Acknowledgement 20-21.jpg | - |
| Income Tax Return Acknowledgement 2019 - 2020File: ITR Acknowledgement 19-20.pdf | - |
| Building Licence | - |
| sanction plan | - |
| Single Layout | - |
| sanction plan | - |
| sanction plan | - |
| sanction plan | - |
| Specification-Fortune Lotus | - |
| sanction plan | - |
| Single Layout | - |
| Stability Certificate -Fortune Lotus | - |
| Legal Openion | - |
| Title Deed | - |
| Conversion Order | - |
| Conversion Order | - |
| proforma AOS | - |
| proforma Allotment letter | - |
| BROCHURE | - |
| form b | - |
| affidavit 3(1) | - |
| Mescom NOC | - |
| Water NOC | - |
| Unnamed document | - |
| Unnamed document | - |
| Unnamed document | - |
| Unnamed document | - |
| Unnamed document | - |
| Unnamed document | - |
| Unnamed document | - |
| Unnamed document | - |
| Unnamed document | - |
| Unnamed document | - |
| Unnamed document | - |
| Unnamed document | - |
| Unnamed document | - |
| Unnamed document | - |
| Unnamed document | - |
| Unnamed document | - |
| village map | - |
| guidance value | - |
| STP-drawing | - |
| Occupancy CertificateFile: OC.jpg | - |
| Architect certificate for having completed the work(in format no 5)File: Form 5-Arch Cft-Lotus-Completion.pdf | - |
| Chartered Accountant certificate for having completed the work(in format no 4)File: Form 4CC-Lotus.pdf | - |
Promoter's earlier projects3
As disclosed by the promoter in this filing. Where a row names its RERA number, the project links to its own page and the location and registration date are read from that registration.
| Project | Location | Status | Promised | Delivered |
|---|---|---|---|---|
| FORTUNE HILL SIDE | S.N.114/15C(P) AT PACHANADY VILLAGE MANGALORE | Ongoing | Dec 2025 | Not delivered |
| FORTUNE HIGHWAY-2 | IN, S.NO.44/A1A AND S.NO.44/A1A OF MARPADY VILLAGE,MANGALORE | Ongoing | Dec 2025 | Not delivered |
| FORTUNE CENTER | S.NO 227/3 C1P1 MUDAR VILLAGE, KARKALA TALUK | Completed | - | Not delivered |
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Builder: FORTUNE PROMOTERS
FORTUNE PROMOTERS has 3 registrations on RERA Karnataka, including FORTUNE LOTUS COMMERCIAL VENTURE and FORTUNE ORCHID. Its filings disclose 4 earlier RERA Karnataka projects, none completed yet. Read the full track record. See more projects on the Udupi district page.
Frequently asked questions
What are my rights if FORTUNE LOTUS COMMERCIAL VENTURE is delayed beyond 31 Dec 2023?
Under section 18 of the RERA Act you may stay in the project and claim interest for every month of delay, at the rate the state's RERA rules prescribe, or exit and claim a full refund with interest. Claims are filed as complaints with RERA Karnataka.
How do I verify and contact the developer of FORTUNE LOTUS COMMERCIAL VENTURE?
The registered promoter entity is FORTUNE PROMOTERS, a partnership firm as per the filing. Its GSTIN 29AAEFF2896H1Z1 can be cross-checked on the MCA and GST portals. Your agreement for sale must name this exact entity, not a group brand name. The promoter's registered address and contact details are on the project's RERA Karnataka listing and in its filed documents.
Is my payment protected in FORTUNE LOTUS COMMERCIAL VENTURE?
Partly, by law. 70 percent of every buyer payment must go into the project's designated bank account, withdrawable only against architect, engineer and CA certificates as construction progresses. Separately, a promoter cannot take more than 10 percent of the price before signing a registered agreement for sale (section 13). Neither rule guarantees completion; they limit how far your money can travel from the project.
Who certifies construction progress at FORTUNE LOTUS COMMERCIAL VENTURE?
The professionals named in the filing: Architect: DIVAKARA SHETTY; Engineer: DIVAKARA SHETTY; Chartered Accountant: UMESH RAO. Their certificates are what unlock the promoter's withdrawals from the 70 percent account, so their names on record are part of the project's accountability chain.
What should I check before booking in FORTUNE LOTUS COMMERCIAL VENTURE?
Four things this page cannot decide for you: that the carpet area in your agreement matches the filed carpet area; that the agreement follows the model agreement under the state's RERA rules, with deviations highlighted; the promoter's record on their other projects, not just this one; whether construction progress keeps pace with sales in the coming quarters.
Spotted something wrong on this page, or want to tell us what would make it more useful? Every page here is built from what the promoter filed on RERA Karnataka, and we read every report.
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