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Grace Commercial Residency
RG-KA-91949 · RERA PRM/KA/RERA/1257/336/PR/180524/001813 · Last updated on RERA Karnataka portal: 21 Jan 2021
Source: official RERA Karnataka filing
Red flags
- Completion date moved by 5 months
- 1 extension taken
Clear
- No complaints on record
- Separate project account declared
Saved.
Grace Commercial Residency is a Mixed Development project by Valstel Builders in Dakshina Kannada, Karnataka, registered with RERA Karnataka as PRM/KA/RERA/1257/336/PR/180524/001813 on 24 May 2018. Possession is promised by 14 Nov 2020. The completion date has moved by 5 months from the original filing.
At a glance
Project
- NameGrace Commercial Residency
- TypeMixed Development
- Location
- Bantwala
- Dakshina Kannada
- PincodeNot stated
- MapView location on Google Maps (as filed on RERA)
- RERA no.PRM/KA/RERA/1257/336/PR/180524/001813
- ReraGenie IDRG-KA-91949
Builder
- NameValstel Builders
- Entity typePartnership Firm
- Authorized SignatoryJossy Lobo
- OthersAna Gracey Rufina Dias, Jossy Lobo
Key dates
Key facts
Registration and timeline
- StatusRegistration approved
- Registered on24 May 2018
- Promised completion14 Nov 2020
- Revised completionRevised to 14 Nov 2020 (originally 30 Jun 2020)
- Buildings1 building record
- Documents filed67 files
Buildings and wings, as sanctioned
| Building | Wing | Floors sanctioned | Habitable floors | Residential units | Other units | Total |
|---|---|---|---|---|---|---|
| GRACE COMMERCIAL RESIDENCY | - | - | - | - | - | 77 |
The full filing
Everything below is from the project's own RERA Karnataka filing, free to read.
Construction progress by building1
As on 21 Jan 2021, 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.
Building:
| Activity | Progress |
|---|---|
| Earth work and other leveling preparation work | - |
| Foundation footing work | - |
| Retaining wall (All types) | - |
| Plinth level Beam | - |
| Sub-structure flooring (Parking Floor, more than one floor below general ground level) | - |
| RCC or MS Framed structure | - |
| Masonry construction: Bricks, Concrete blocks etc | - |
| 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 | - |
| Wardrobe, Showcase, Kitchen cabinet, Puja work | - |
| Fire prevention and fire fighting fitting and fixture with network | - |
| Weather Proof work(tile,concrete) | - |
| Painting | - |
| Elevation work | - |
| Internal and External work including landscapes as per santioned drawings | - |
Progress on shared amenities41
As on 21 Jan 2021, 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 | - |
| Internal Roads & Footpaths | Yes | - |
| Sewage and Drainage System | Yes | - |
| Parks & Tree planting | Yes | - |
| Street Lighting | Yes | - |
| Provision for community buildings and for treatment and disposal of sewage and sullage water | No | Not applicable |
| Solid waste management and disposal | No | Not applicable |
| Water conservation | No | Not applicable |
| Energy management | Yes | - |
| Fire protection and fire safety requirements | No | Not applicable |
| Education/Health/Other public amenities | Yes | - |
| Electricity supply transformer and substation | Yes | - |
| Emergency Evacuation services | Yes | - |
| Storm water drains | Yes | - |
| Use of renewable energy | No | Not applicable |
| Water conservation/rain water harvesting/recharge of ground water | Yes | - |
| Electricity | Yes | - |
| Smart Home Automation | No | Not applicable |
| CCTV Surveillance | No | Not applicable |
| 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 | Yes | - |
| Power Backup | Yes | - |
| Gas | No | Not applicable |
| Water and Sanitation | Yes | - |
| Air Conditioning And incerntion | No | Not applicable |
| Staircases | Yes | - |
| Lifts | Yes | - |
| Staircases and Lift lobbies, corridor,lobbies, corridor | Yes | - |
| Fire escapes | Yes | - |
| Common entrance and exit for the building / common portico/foyer/verandah | Yes | - |
| Basement | Yes | - |
| Terrace | Yes | - |
| Outer Wall | Yes | - |
| Open parking areas and common storage spaces | Yes | - |
| Provision for lodging of management staff and security staff | Yes | - |
| Water conservation and renewable energy | Yes | - |
Land and ownership
This page carries no encumbrance declaration for this project. That is silence on the question, and not a record of clear land.
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.
Certifying professionals and partners3
Certificates from these professionals release the promoter's withdrawals from the 70 percent account.
| Role | Name |
|---|---|
| Architect | Lathish Kotian |
| Engineer | Lathish Kotian |
| Engineer | Vimal Anil |
Extensions applied for1
A revised date filed with the regulator does not change the possession date in your agreement for sale.
Reason as filed by the promoterothers
Complaints filed with RERA Karnataka
No complaints on record against this registration.
Documents filed67
As listed on the registration, under the names the promoter filed them with. The files themselves are available at source: search the registration number PRM/KA/RERA/1257/336/PR/180524/001813 on the RERA Karnataka portal. We publish what the filing says and never host the promoter's documents in place of it.
| Document | Uploaded |
|---|---|
| Quarterly updates for each quarterFile: RERA 20-21.pdf | 21 Jan 2021 |
| Inventory Details Flats & Shops- Old before ModificationFile: Inventory Details Flats & Shops- Old before Modification.pdf | 14 Dec 2020 |
| Certificate for extentionFile: EXPRMKARERA1257336PR201021001813.pdf | 14 Dec 2020 |
| Project Comppletion certificateFile: Occupation Certificate- Local Panchayath.PDF | 14 Dec 2020 |
| FEE CHALLANFile: RE1020021616101822 Rera Modification Aplication Fee Challan.pdf | 13 Nov 2020 |
| Sold Inventory Details Flats & ShopsFile: Sold Inventory Details Flats & Shops.pdf | 13 Nov 2020 |
| Unsold Inventory Details Flats & ShopsFile: Inventory Details Flats & Shops.pdf | 13 Nov 2020 |
| Abstract Inventory Details Flats & ShopsFile: Abstract Inventory Details Flats & Shops.pdf | 13 Nov 2020 |
| Bank StatementFile: Bank Statement.pdf | 13 Nov 2020 |
| CertificateFile: Registration Certificate.pdf | - |
| Already registered project ongoing detailsFile: NO ONGOING.pdf | - |
| Modified plan details site plan, floor plans, Plan Licence LetterFile: PROJECT PLAN .pdf | - |
| Elevation, Sections, Specifications ( If changes are there )File: NO CHANGES.pdf | - |
| List Of AllotteesFile: LIST OF ALLOTTEES.pdf | - |
| List Of ComplaintsFile: NO COMPLAINTS.pdf | - |
| Consent LetterFile: Consent Letters.pdf | - |
| List Of Pending LitigationsFile: NO LITIGATIONS.pdf | - |
| Chartered Accountant CertificateFile: FORM -4 C A Certificate.PDF | - |
| Notarized AffidavitFile: AFFIDAVIT.pdf | - |
| Engineer CertificateFile: FORM-6.pdf | - |
| Architect CertificateFile: FORM-5.pdf | - |
| Structural Engineer Certificate for stability of structureFile: FORM-6.pdf | - |
| Modification of Plan DetailsFile: BUILDING PLAN final.pdf | - |
| Modification of Plan DetailsFile: PROJECT PLAN .pdf | - |
| Modification of Plan DetailsFile: LICENCE COPY .pdf | - |
| Modification of Plan DetailsFile: LICENCE COPY .pdf | - |
| Modification of Plan DetailsFile: PROJECT DETAILS.pdf | - |
| Modification of Plan DetailsFile: PROJECT DETAILS.pdf | - |
| Document 1File: NOC.pdf | - |
| Architect Certificate for Work Completion Schedule till DateFile: Architect (status as on date).pdf | - |
| Engineer Certificate for Work Completion Schedule till DateFile: Engineer (status as on date).pdf | - |
| CA Certificate for Funds UtilizationFile: CA CERTIFICATE- FUND UTILIZED.PDF | - |
| Architect Certificate for Pending Work Completion Schedule.File: Architect (pending work).pdf | - |
| Engineer Certificate for Pending Work Completion Schedule.File: Engineer (pending work).pdf | - |
| CA Certificate for Funds required for Project CompletionFile: CA CERTIFICATE- FUND REQUIRED.PDF | - |
| AffidavitFile: AFFIDAVIT.pdf | - |
| Latest Encumbrance CertificateFile: EC.pdf | - |
| Consent letter from 2/3rd of AllotteesFile: Consent Letters.pdf | - |
| Details Of Sold/ Un-sold UnitsFile: SoldUnsoldDetails.pdf | - |
| NOC DetailsFile: ORDER COPY.pdf | - |
| Document 1File: Bank Statement.pdf | - |
| Document 2File: Commencement Certificate.pdf | - |
| Document 3File: AFFIDAVIT.pdf | - |
| Document 4File: State Bank of India.pdf | - |
| Document 5File: AFFIDAVIT.pdf | - |
| Document 6File: Affidavit.pdf | - |
| Commencement certificate | - |
| draft sale deed | - |
| draft agreement for sale | - |
| Sale deed and RTC | - |
| Allotment Letter | - |
| BROUCHURE | - |
| Project specification | - |
| Encumbrance | - |
| CONVERTION AND KHATA final | - |
| Memo of undstg | - |
| STABILITY CERTIFICATE | - |
| STABILITY CERTIFICATE | - |
| Legal Opinion 1 | - |
| Form B | - |
| Prospectus/BrochureFile: BROUCHURE.pdf | - |
| Advertisement Copy 1File: BROUCHURE.pdf | - |
| Tower Excel SheetFile: PRM_KA_RERA_1257_336_PR_180524_001813.xlsx | - |
| Occupancy CertificateFile: Occupation Certificate.PDF | - |
| Completion certificateFile: Completion Certificate.PDF | - |
| Registered Agreement of SaleFile: AGREEMENT.pdf | - |
| Registered conveyance deed for an individual unitFile: SALE DEED.pdf | - |
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Builder: Valstel Builders
Valstel Builders has 1 registration on RERA Karnataka, including Grace Commercial Residency. Its filings disclose no earlier RERA Karnataka projects. Read the full track record. See more projects on the Dakshina Kannada district page.
Frequently asked questions
What are my rights if Grace Commercial Residency is delayed beyond 14 Nov 2020?
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 Grace Commercial Residency?
The registered promoter entity is Valstel Builders, a partnership firm as per the filing. Neither this filing nor this promoter's other RERA Karnataka registrations disclose a CIN, LLPIN or GSTIN for this entity. 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 Grace Commercial Residency?
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 Grace Commercial Residency?
The professionals named in the filing: Architect: Lathish Kotian; Engineer: Lathish Kotian; Engineer: Vimal Anil. 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 Grace Commercial Residency?
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; why the completion date was revised and what the new timeline depends on.
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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