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INNOVATIVE PALACIA
RG-KA-80502 · RERA PRM/KA/RERA/1251/446/PR/190924/007049 · Last updated on RERA Karnataka portal: 15 Apr 2026
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.
INNOVATIVE PALACIA is a Residential/Group Housing project by SHUBANKARA DEVELOPERS in Bengaluru Urban, Karnataka, registered with RERA Karnataka as PRM/KA/RERA/1251/446/PR/190924/007049 on 19 Sep 2024. Possession is promised by 30 Sep 2027. 64 of the 168 units on this registration are recorded sold or booked, and 8 of 18 construction stages are filed complete.
At a glance
Project
- NameINNOVATIVE PALACIA
- TypeResidential/Group Housing
- Location
- Bengaluru East
- Bengaluru Urban
- 560037
- Pincode560037
- MapView location on Google Maps (as filed on RERA)
- RERA no.PRM/KA/RERA/1251/446/PR/190924/007049
- ReraGenie IDRG-KA-80502
Builder
- NameSHUBANKARA DEVELOPERS
- Entity typePartnership Firm
- GSTIN29AEWFS5532F1ZF
- Authorized SignatoryMr. K.MALLA REDDY
Key dates
Key facts
Registration and timeline
- StatusRegistration approved
- Registered on19 Sep 2024
- Promised completion30 Sep 2027
- Revised completionNone
- Buildings3 building records
- Documents filed130 files
Current status
Figures as on 15 Apr 2026, this project's latest RERA Karnataka filing.
Buildings and wings, as sanctioned
| Building | Wing | Floors sanctioned | Habitable floors | Residential units | Other units | Total |
|---|---|---|---|---|---|---|
| Block A | - | - | - | 63 | 0 | 63 |
| Block B | - | - | - | 40 | 0 | 40 |
| Block C | - | - | - | 65 | 0 | 65 |
The full filing
Everything below is from the project's own RERA Karnataka filing, free to read.
Construction progress by building1
As on 15 Apr 2026, 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.
8 of 18 construction stages are filed complete. The stage furthest along is Weather Proof work(tile, at 70%.
Building: 72% average across the applicable activities
| Activity | Progress |
|---|---|
| Earth work and other leveling preparation work | 100% |
| Foundation footing work | 100% |
| Upto Plinth Level | 100% |
| Sub-structure flooring (Parking Floor, more than one floor below general ground level) | 100% |
| Retaining wall (All types) | 100% |
| RCC or MS Framed structure | 100% |
| Masonry Construction | 100% |
| Plastering inside , outside & Ceiling | 100% |
| Joinery: Doors, Windows, Ventilators etc | 45% |
| Basic work of Water supply, Sanitary and Electrification | 55% |
| Dadoing, Skirting, Flooring, Tiles work (All types) | 60% |
| Railing and Grill fixing | 65% |
| Electrification, Water supply and Sanitary Finishing | 45% |
| Painting | 60% |
| Fire prevention and fire fighting fitting and fixture with network | Not applicable |
| Weather Proof work(tile,concrete) | 70% |
| Wardrobe, Showcase, Kitchen cabinet, Puja work | 0% |
| Elevation work | 30% |
| Internal and External work including landscapes as per sanctioned drawings | 60% |
Progress on shared amenities40
As on 15 Apr 2026, 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 | 60% |
| Sewage and Drainage System | Yes | 75% |
| Water conservation/rain water harvesting/recharge of ground water | Yes | 60% |
| 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 | Yes | 0% |
| Electricity supply transformer and substation | Yes | 15% |
| Storm water drains | Yes | 70% |
| Use of renewable energy | No | Not applicable |
| Sewage Treatment Plant (STP) | Yes | 75% |
| Parks & Tree planting | No | Not applicable |
| Street Lighting | No | Not applicable |
| Electricity | Yes | 55% |
| Smart Home Automation | No | Not applicable |
| CCTV Surveillance | No | Not applicable |
| Club House | No | Not applicable |
| Community Hall | Yes | 25% |
| Outdoor Sports facility | Yes | 60% |
| Indoor Sports facility | Yes | 60% |
| Swimming Pool | Yes | 75% |
| Gym | Yes | 35% |
| Parks | Yes | 60% |
| Power Backup | Yes | 25% |
| Piped Gas | No | Not applicable |
| Water and Sanitation | Yes | 80% |
| Air Conditioning | No | Not applicable |
| Staircases | Yes | 85% |
| Lifts | Yes | 85% |
| Corridor/Lobbies | Yes | 80% |
| Fire escapes | No | Not applicable |
| Common entrance and exit for the building/common portico/foyer/verandah | No | Not applicable |
| Basement | Yes | 100% |
| Terrace | Yes | 75% |
| Outer Wall | Yes | 100% |
| Open parking areas | No | Not applicable |
| Provision for lodging of management staff and security staff | No | Not applicable |
| Water conservation and renewable energy | Yes | 60% |
| Common storage spaces | No | Not applicable |
Land and ownership3
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 |
|---|---|---|
| VIJAYA S A ALIAS VIJAYAMMA | - | - |
| Sri. M.B. CHANDRASHEKAR REDDY | - | - |
| Sri. M B SHANKAR REDDY | - | - |
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.
| Cost line | Estimated | Incurred |
|---|---|---|
| Estimated Cost of Construction as certified by Engineer | Rs 70.00 cr | Rs 5.77 cr |
| On-site expenditure-Site Overhead | Rs 2.00 cr | - |
| On-site expenditure-Consultants Fees | Rs 80.71 lakh | - |
Certifying professionals and partners3
Certificates from these professionals release the promoter's withdrawals from the 70 percent account.
| Role | Name |
|---|---|
| Architect | Mr. Veera Narendranath Reddy Bommu |
| Engineer | Mr. Penukonda Anand |
| Chartered Accountant | Mr. V S KRISHNA MURTHY |
Complaints filed with RERA Karnataka
No complaints on record against this registration.
Documents filed130
As listed on the registration, under the names the promoter filed them with; the newest 80 of 130 are shown. The files themselves are available at source: search the registration number PRM/KA/RERA/1251/446/PR/190924/007049 on the RERA Karnataka portal. We publish what the filing says and never host the promoter's documents in place of it.
| Document | Uploaded |
|---|---|
| Q4 2025-26 Form-4 Certificate issued by Chartered AccountantFile: CA_Form 4_Q4 2025-26_INNOVATIVE PALACIA.pdf | 15 Apr 2026 |
| Q4 2025-26 Form-5 Certificate issued by ArchitectFile: form-5 Architecture _Q4 2025-26_INNOVATIVE PALACIA.pdf | 15 Apr 2026 |
| Q4 2025-26 Form-6 Certificate issued by Structural EngineerFile: form-4_Engineer _Q4 2025-26_INNOVATIVE PALACIA.pdf | 15 Apr 2026 |
| Q4 2025-26 Water supply and sewage board | 15 Apr 2026 |
| Q4 2025-26 KSPCB- PCB (10 Acres to 125 Acres) | 15 Apr 2026 |
| Q4 2025-26 KSPCB- MOEF (Above 50 Acres) | 15 Apr 2026 |
| Q4 2025-26 KPTCL- BESCOM | 15 Apr 2026 |
| Q3 2025-26 Form-4 Certificate issued by Chartered AccountantFile: Form -4_Chartered Accountant (QU) Q3_205_26.pdf | 26 Feb 2026 |
| Q3 2025-26 Form-5 Certificate issued by ArchitectFile: form-5 Architecture Certificate_(QU) Q3_205_26.pdf | 26 Feb 2026 |
| Q3 2025-26 Form-6 Certificate issued by Structural EngineerFile: Form6_Engineer Certificate_(QU) Q3_205_26.pdf | 26 Feb 2026 |
| Q3 2025-26 Water supply and sewage board | 26 Feb 2026 |
| Q3 2025-26 KSPCB- PCB (10 Acres to 125 Acres) | 26 Feb 2026 |
| Q3 2025-26 KSPCB- MOEF (Above 50 Acres) | 26 Feb 2026 |
| Q3 2025-26 KPTCL- BESCOM | 26 Feb 2026 |
| Total estimated cost mentioned in bank affidavit its incorrect, please update bank affidavit with pFile: bank affidavit 1.pdf | 11 Sep 2024 |
| What are all the sources of funds to complete the project? Upload with supportive documents.File: source of fund_merged new 2.pdf | 11 Sep 2024 |
| Upload balance sheet, profit and loss account & ITR of 2022-2023 and 2023-24 with schedule and UDIN.File: balance sheet 4.pdf | 11 Sep 2024 |
| Upload partners financial statements.File: malla reddy indivisual itr 5.pdf | 11 Sep 2024 |
| Upload partners financial statements.File: krishna reddy indivisual itr 5.pdf | 11 Sep 2024 |
| Update promoter name and bank account details in CA certificate and upload in prescribed format.File: form 1 7.pdf | 11 Sep 2024 |
| certificate of registration of partnership firmFile: company registration.pdf | 11 Sep 2024 |
| clearly visible connected MR in favuor of landowner before conversion For Survey Number 144,145 & 14File: mr.pdf | 11 Sep 2024 |
| defect free EC with all transactions with the project properties, as some are missingFile: ec 1_merged.pdf | 11 Sep 2024 |
| notarized affidavit regarding all pending or cleared litigations /non-litigation by clearly mentionFile: AFIDAVIT LAND ONWER non litigation.pdf | 11 Sep 2024 |
| Approved Original Single Plot layout planFile: single plot layout.pdf | 11 Sep 2024 |
| Approved Original Single Plot layout plan work order.File: single plot.pdf | 11 Sep 2024 |
| NOC/Environmental Clearance from KSPCB.File: PCB NOC.pdf | 11 Sep 2024 |
| NOC/Environmental Clearance from KSPCB.File: seiaa.pdf | 11 Sep 2024 |
| Please update the Annexure-A and upload the proforma of the Allotment letter in the prescribed formaFile: allotment letter.pdf | 11 Sep 2024 |
| Please upload the Certificate from Registered Engineer indicating the structural safety adopted forFile: structural safety certificate.pdf | 11 Sep 2024 |
| Please upload the STP design drawing certified by the Engineer as per the guidelines of KSPCB NOC.File: stp drawing.pdf | 11 Sep 2024 |
| Please upload the BSCOM NOCFile: bescom affi_merged.pdf | 11 Sep 2024 |
| BWSSB NOC along with the copy of the fee receipt paid towards the NOCFile: BWSSB CHALLEN_merged.pdf | 11 Sep 2024 |
| Please upload the Land cost calculation sheet as per the guidance value(Self-attested copy).File: valuation report.pdf | 11 Sep 2024 |
| Please clarify the source of water supply to the project along with the supporting documents and phoFile: source of water_merged.pdf | 11 Sep 2024 |
| RTC, survey 144 | - |
| Mutation, survey 144 | - |
| Encumbrance Certificate, survey 144 | - |
| Conversion/Alienation Order, survey 144 | - |
| Sale/Title/Gift Deed, survey 144 | - |
| JDA, survey 144 | - |
| Khatha, survey 144 | - |
| RTC, survey 145 | - |
| Mutation, survey 145 | - |
| Encumbrance Certificate, survey 145 | - |
| Conversion/Alienation Order, survey 145 | - |
| Sale/Title/Gift Deed, survey 145 | - |
| JDA, survey 145 | - |
| Khatha, survey 145 | - |
| RTC, survey 146 | - |
| Mutation, survey 146 | - |
| Encumbrance Certificate, survey 146 | - |
| Conversion/Alienation Order, survey 146 | - |
| Sale/Title/Gift Deed, survey 146 | - |
| JDA, survey 146 | - |
| Khatha, survey 146 | - |
| Registration CertificateFile: P DEED.pdf | - |
| Partnership DeedFile: P DEED.pdf | - |
| Partner Details | - |
| Partner Details | - |
| Certificate issued by CA Form 1File: form 1.pdf | - |
| Certificate issued by Architect Form 2File: Form-2 Architect.pdf | - |
| Certificate issued by Engineer Form 3File: Document 53.pdf | - |
| Project Chartered Accountant | - |
| Project Engineer | - |
| Project Architect | - |
| AffidavitFile: AFIDAVIT.pdf | - |
| Certificate from Chartered AccountFile: form 1.pdf | - |
| Balance Sheet 2022 - 2023File: shubhankara letter.pdf | - |
| Balance Sheet 2021 - 2022File: shubhankara letter.pdf | - |
| Balance Sheet 2020 - 2021File: shubhankara letter.pdf | - |
| Audited Profit and Loss Statement 2022 - 2023File: shubhankara letter.pdf | - |
| Audited Profit and Loss Statement 2021 - 2022File: shubhankara letter.pdf | - |
| Audited Profit and Loss Statement 2020 - 2021File: shubhankara letter.pdf | - |
| Director's Report 2022 - 2023File: shubhankara letter.pdf | - |
| Director's Report 2021 - 2022File: shubhankara letter.pdf | - |
| Director's Report 2020 - 2021File: shubhankara letter.pdf | - |
| Cash Flow Statement 2022 - 2023File: shubhankara letter.pdf | - |
| Cash Flow Statement 2021 - 2022File: shubhankara letter.pdf | - |
| Auditor's Report 2022 - 2023File: shubhankara letter.pdf | - |
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Builder: SHUBANKARA DEVELOPERS
SHUBANKARA DEVELOPERS has 1 registration on RERA Karnataka, including INNOVATIVE PALACIA. Its filings disclose no earlier RERA Karnataka projects. Read the full track record. See more projects on the Bengaluru Urban district page.
Frequently asked questions
What are my rights if INNOVATIVE PALACIA is delayed beyond 30 Sep 2027?
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 INNOVATIVE PALACIA?
The registered promoter entity is SHUBANKARA DEVELOPERS, a partnership firm as per the filing. Its GSTIN 29AEWFS5532F1ZF 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 INNOVATIVE PALACIA?
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 INNOVATIVE PALACIA?
The professionals named in the filing: Architect: Mr. Veera Narendranath Reddy Bommu; Engineer: Mr. Penukonda Anand; Chartered Accountant: Mr. V S KRISHNA MURTHY. 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 INNOVATIVE PALACIA?
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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