DEM Phoenix
MahaRERA Property Intelligence · Mumbai Suburban
P51800006116 · MALAD EAST · promoter Navkar Developers
| MahaRERA registration | P51800006116 |
| Registered on | 14 Aug 2017 |
| Promoter-declared completion | 31 Dec 2026 |
| Current status | Certificate Signed |
| Against today | 5 months to the declared date |
MahaRERA's own defaulter/deregistration lists and the project's quarterly-progress-report filing — the regulator's view of whether this project is in good standing.
Across MahaRERA, Navkar Developers is the promoter of record on 87 projects, of which 11 carry a MahaRERA regulator flag (insolvency, deregistration, completion-lapse or QPR default). Read the pattern across the portfolio, not just this project's brochure — matched on the promoter name in the MahaRERA register.
MahaRERA's cost filing puts construction at ~63.6% of the estimated project cost incurred as of the last certificate (₹14.30 Cr spent against a ₹22.49 Cr estimate). This financial % is the regulator's own proxy for how much is physically built — the closest public read on real progress, and one a brochure never shows.
Cost-incurred % as last certified to MahaRERA; it can lag on-site reality between filings. Confirm the current stage and the latest Form 2 before you book.
Of 95 homes filed with MahaRERA, 21 are sold/booked and 74 remain available (~22% sold) — early in sales — more choice of units now, but confirm the developer has the pre-sales to fund the build. Buyers have committed ₹24.86 Cr in agreement value so far. Of that, ₹19.35 Cr (~78%) is already collected, ₹5.51 Cr receivable — a read on how far along these sales really are. This is the promoter's own reported inventory as at the last compliance filing; confirm current availability directly.
What buyers actually paid: across 21 registered agreements, the effective carpet rate is ₹20,907/sqft (typical range ₹17,248–₹24,017) — computed from the agreement values and carpet areas the promoter filed, not broker quotes. Compare your quote against this before negotiating.
No units are declared mortgaged, reserved, investor-held or not-for-sale in this inventory filing — still confirm your specific unit's status in the agreement.
The buildings and wings registered under this project, with each tower's sanctioned height and declared completion date. Here the tallest tower rises to G+22 and 95 homes are registered across the project.
| Building | Wings | Floors | Homes | Declared completion |
|---|---|---|---|---|
| Shankeshwar Apartment | 1 | G+22 | 95 | - |
Unit mix on the filing: 94 residential and 1 non-residential (shops/offices).
1 complaint is on the MahaRERA record for this project, with orders passed in 1. An adjudicated complaint is the clearest evidence of how this promoter behaves when pushed — read the orders in full.
| Complaint no. | Filed | Parties | Status |
|---|---|---|---|
| CC006000000197865 | 13/08/2021 | Radheshyam Sharma vs M/s Navkar Developer | order passed |
The promoter has had the MahaRERA completion deadline formally extended 5 times. Each extension is the regulator letting the finish line move — the clearest evidence of delivery slippage, straight from the record.
| From (declared) | To (revised) | Stated reason |
|---|---|---|
| 30 Dec 2024 | 30 Sep 2021 | DELAYS IN OBTAINING THE PERMISSION DUE TO VARIOUS LITIGATION ON THE ACCESS ROAD OF THE PROPERTY. |
| 30 Dec 2024 | 31 Dec 2023 | DELAYS IN OBTAINING THE PERMISSION DUE TO VARIOUS LITIGATION ON THE ACCESS ROAD OF THE PROPERTY. |
| 30 Dec 2024 | 30 Dec 2024 | Due to access road complication to the site permissions were delayed. |
| 30 Sep 2020 | 30 Dec 2025 | Due to unavailability of permissions from MCGM further construction could not be carried out, which has resulted in delay of the project. |
| 30 Sep 2020 | 31 Dec 2026 | There were liquidity issues and delays in funding. Labour and material shortages, along with disruptions in supply chains and workforce availability, are impacting construction tim |
Located at MALAD EAST, RANI SATI ROAD, Borivali, Mumbai Suburban, 400097. Per the filed land record, the plot is bounded to the north by Sati smruti building, to the south by 12 m DP road, to the east by Makrani Pada and to the west by Udyam Kunj Building. Confirm these against the 7/12 extract and the sanctioned plan before you rely on them.
The nearest major job hub is ~702 km away — well outside the job hubs — this is a value/space play, not a short-commute one; budget for the drive.
| Landmark | Straight-line |
|---|---|
| Powai / Hiranandani business park | 702 km |
| Andheri MIDC / SEEPZ | 705 km |
| Chhatrapati Shivaji Int'l Airport | 707 km |
| Bandra Kurla Complex (BKC) | 708 km |
| Lower Parel / Worli business district | 714 km |
| Nariman Point / Fort | 717 km |
Straight-line distances from the geocoded project locality (the RERA address is an area, not a door) — directional, not door-to-door drive times. Check the actual road route, the nearest metro station and daily-need shops/schools/hospitals on a site visit.
🔒 The verdict & buyer playbook · Compliance report
The paid report opens with the overall risk read on this MahaRERA filing, exactly what I'd do as a buyer in this project, who it suits, and the questions to put to the promoter before you commit.
🔒 Unit-by-unit guidance · Unit Guidance report
Which building/wing and unit to prefer and the sanctioned-plan read for this project — the ₹2,999 guidance layer.
🔒 Full financial records — escrow, funding & the document catalog · Compliance report
The RERA 70% designated-escrow account activity, the declared means-of-finance, the professionals of record, and every document filed with MahaRERA — the raw records the read above is built on.
Should you buy in Shankeshwar Apartment?
This page is the free MahaRERA filing summary. The full RERA Property Intelligence Report gives you the full regulatory standing, declared court litigation, buyer-complaint and adjudication history, quarterly-progress-report discipline, the builder's MahaRERA-wide track record, the building/tower breakdown, and the sanctioned layout plan. See a real one first:
Sample: Lodha Kandivali – Tower 2 → · browse all sample reports →
Compliance Report · ₹999
The regulator’s filing record, read · 1 working day
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Unit Guidance Report · ₹2,999
Everything, down to which unit · 1 working day
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Paying from outside India? Pay $15 (Compliance) or $39 (Unit Guidance) via PayPal, or email hello@quietlist.in for a card invoice. Prefer to talk first, or have a portfolio to check? Same address. An information aid for your own due diligence, not legal or investment advice.
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Navkar Developers is the promoter on 2 MahaRERA-registered projects, with none currently carrying a regulator flag — a reassuring wider track record (matched on the promoter name in the register; it doesn't guarantee this specific project, but a clean portfolio is a good sign).
See every Navkar Developers project & its RERA track record →
Flags are from MahaRERA's own published problem lists — not a claim about the developer's intent. Explore every flagged project on our Mumbai, Thane & the MMR RERA red-flag register.
Last checked against the RERA register: 27 Jul 2026