Urban Oasis by Modern Spaaces Price

To be unambiguous about the state of the record as it stands:

Urban Oasis is the developer's own current name for the scheme — Modern Spaaces lists it among its upcoming villa projects off Sarjapur Road, and the promoter firm on the environmental filing is literally named M/s Urban Oasis. The name a project registers under can still differ from the name it markets under before registration, and so, of course, can the price.

Every rupee figure you will meet while researching this corridor belongs to one of four tiers. Most property pages collapse the distinction and present all four as though they were interchangeable. They are not, and the difference between them is larger than the difference between the numbers.

The sections below are ordered on that principle: tier 1 first, tier 2 as a cross-check, tier 3 only to dismantle it, tier 4 not at all.

It would be easy to take the top of that ladder, add a premium for a villa, and print a range. It would also be wrong, and the reasons are worth setting out because they apply to every villa project you will research on this corridor.

A rate per square foot is a ratio, and it only means something when the numerator and the denominator describe the same kind of thing. In an apartment, what you buy is a share of a building and an undivided share of land, and the rate is quoted on a built-up or carpet area within that building. In a villa on its own plot, the land is the dominant component of the price, and it is priced by the square foot of plot, not by the square foot of construction. Two products with the same rate per square foot of built-up area can have entirely different land content and entirely different economics. Applying an apartment rate to a villa without saying so produces a number that looks precise and means nothing.

That is the first problem. The second is that the denominator itself does not exist here. A rate becomes a price only when you multiply it by a size, and every candidate size for Urban Oasis is unconfirmed:

The brief's plot range is given once, for the project as a whole. It is not split by configuration, so it does not say that a particular villa type sits on a particular plot size, and neither will we. The filings state only that there are 477 residential villas and a club house, built to ground plus two upper floors within a maximum height of 11.0 m. No configuration, no unit sizes, no plot sizes.

So an indicative envelope for Urban Oasis would have to be built by taking an estimated rate from a different product class, multiplying it by an unconfirmed size that comes from marketing material, and presenting the result. That is two soft numbers inside one hard-looking figure, and it is precisely the kind of number that gets quoted back as fact six months later. We are not publishing one. The honest position is that the developer has published nothing, the evidence available is about apartments, the sizes are unconfirmed, and a villa price cannot be responsibly derived from that. That is a gap, and it is better acknowledged than filled.

One tier-2 comparable is worth running, because it comes from a different promoter and is registered, which makes it a genuine outside test of the developer's own ladder.

Ventara Residences, at Survey No 131, Chambenahalli, is promoted by Capstone Properties and holds K-RERA registration PRM/KA/RERA/1251/308/PR/051224/007269. Its published units imply a rate of Rs 9,006 – 9,862 per sq ft. Chambenahalli is the village in which Modern Spaaces keeps its registered office, so this is a registered project pricing in the developer's immediate neighbourhood.

That number belongs to Ventara Residences and to no other project. Urban Oasis has no registration number of any kind — if you are shown one attached to this project's name, it belongs to something else, and the same is true of the Ventara rate. What the cross-check establishes is only this: an independent, registered scheme in this micro-market prices in the same broad neighbourhood as the upper half of Modern Spaaces' own apartment ladder. It does not establish a villa rate, because Ventara is not a villa product either.

The environmental filing states a project cost of Rs 426.94 crore. It is the only large rupee figure in the public record for Urban Oasis, and it will be misread as a price.

It is the promoter's own declared cost of the undertaking, submitted to an environmental authority. It is not a sale value, not a revenue projection and not a per-unit price. You could divide it by 477 villas, or by the filed built-up area, and produce a quotient that looks like a price. We have printed neither, and the reason is not caution for its own sake. The filing does not state what the cost figure includes — whether it covers the land, whether it covers finance, approvals and marketing, whether it is construction alone. A quotient whose denominator is precisely defined and whose numerator is not defined at all tells you nothing you can act on, and comparing such a quotient with a sale rate would manufacture a developer margin out of a definition nobody has published.

The figure is worth knowing as a measure of the declared scale of the scheme. It is worth nothing as a price.

Here is one calculation done end to end, so the method is visible. It is Soulace's arithmetic. It is not Urban Oasis's price, and it must not be read as one.

Modern Spaaces publishes two rates for Soulace: Rs 11,806 per sq ft and Rs 13,286 per sq ft. Someone wanting a single headline number would take the midpoint:

Rs 11,806 + Rs 13,286 = Rs 25,092. Rs 25,092 ÷ 2 = Rs 12,546 per sq ft.

Three things follow, and all three are the point of the exercise.

First, the correct midpoint is Rs 12,546. Rounder figures in that neighbourhood are circulating attached to this project. They are not this calculation, and quoting a wrong midpoint alongside a right one does not make either of them a price.

Second, the resemblance is not corroboration. When an unsourced number happens to land near a real one, it acquires borrowed credibility. It should not. Two numbers that look alike are one number and one coincidence, not two sources. The unsourced figure examined earlier in this page has exactly as much support after this calculation as it had before: none.

Third, even the correct midpoint is the wrong instrument. It is the midpoint of two apartment rates, at one launched project, whose location and product the developer's page does not describe. Soulace is an apartment. Urban Oasis is a ground-plus-two villa on its own plot, where the land share dominates the price. A midpoint of two rates from a different product class in a different scheme is a number about Soulace and about nothing else.

Location is the main thing that separates the rungs of any developer's ladder, so it belongs in a discussion of price. Two things bear on it here, and both are road distances from our routed table rather than straight-line figures.

The genuine strength is schooling. Six schools sit inside 4.3 km of the site by road: Head Start Educational Academy at 2.18 km by road, Divine Providence School at 2.96 km, Oakridge International School at 3.21 km, Bethany High Sarjapur at 3.31 km, Kunskapsskolan Bengaluru at 4.25 km and The International School Bangalore at 4.29 km. For a family buying a four- or five-bedroom villa, that cluster is the most price-relevant amenity in the area, and it is real.

The weakness is transport. No metro or suburban rail station serves this location. Carmelaram, at 9.56 km by road, is the nearest rail connection of any kind, and Sarjapura Bus Stand is 7.06 km by road. Any pricing argument built on a future metro station here rests on an alignment and a station location that have not been published, and therefore on a distance nobody can compute. Treat it as absent from the price, because today it is.

When this project registers with K-RERA and a real price appears, these are the things to have in writing before any money moves.

1. The K-RERA registration number, in project class. A project registration carries /PR/. An agent registration carries /AG/ and registers a person or firm, not a project — its presence beside a project name tells you nothing about whether the project is registered. Verify the number on the Authority's own portal.
2. Which entity is selling to you. Modern Spaaces is the brand and lists Urban Oasis among its upcoming villa projects; the promoter of record on the environmental filing is M/s Urban Oasis, a partnership firm. Building through a dedicated per-project entity is this developer's normal practice, but check which name appears on the registration certificate, on the cost sheet and on the agreement for sale, and satisfy yourself that all three agree.
3. The survey numbers and villages on the certificate, and that they match the parcel you were shown — Yamare and Dommasandra Villages, Sarjapura Hobli, Anekal Taluk.
4. The area basis, stated explicitly, with RERA carpet area alongside whatever marketing area is quoted, and the plot area stated separately from the constructed area.
5. A line-item break-up rather than a lump sum: base rate, preferential location charge, parking, club or amenity charge, corpus, advance maintenance and its term, statutory deposits, infrastructure or betterment charges, legal, documentation and khata.
6. Which lines attract GST and which do not, with the amount applied shown as a rupee figure, and the treatment of the land component stated.
7. The stamp duty and registration basis — whether each is computed on the consideration or on the guidance value, and the rupee amount of each.
8. The payment schedule tied to construction milestones, as the agreement for sale requires, rather than to calendar dates.
9. The approvals position on the day of the quote. As matters stand, the environmental application is under examination, no Terms of Reference and no environmental clearance has been granted, and the plan sanction from the approving authority is still ahead. Ask what has actually been granted, and ask to see it.
10. The declared completion date on the registration certificate, and what the agreement provides if it is missed.
11. All of it on paper. A verbal rate for an unregistered project is not a quotation, is not enforceable, and is not evidence of anything.

If you want the price of Urban Oasis, the only correct course is to wait for the K-RERA registration and the developer's own cost sheet. This page will be updated when either appears. Until then, no figure on it is a price for Urban Oasis — and no figure anywhere else is either.