MAHANKA/Indore/RERA/PROGRESSIVE RAGA

PROGRESSIVE RAGAONGOING

★Are you the official developer or sales mandate for PROGRESSIVE RAGA?
Data Provenance
Registration No
P-IND-22-3495FACT
Project Name
PROGRESSIVE RAGAFACT
Status
ONGOINGFACT
Promoter
MEGA BUILDERSFACT
Locality Link
UNMATCHEDNOT ASSESSED
Coordinates
Not available from sourceNOT ASSESSED
Last verified: 15 Aug 2026 · Source ↗

1. Project IdentityFACT

Official statutory registration record

Project NameFACT
PROGRESSIVE RAGA
Registration NumberFACT
P-IND-22-3495
Project StatusFACT
ONGOING
Project Type (Portal)FACT
New
First Seen in IndexDERIVED
15/8/2026
Last CrawledDERIVED
15/8/2026

2. Regulatory Economics & EscrowFACT

Project budget, land ownership, and escrow details

Planning AreaFACT
Indore
Land OwnershipFACT
Dharmajeet Birthare
Estimated Land CostFACT
₹179.84 Lakh
Estimated Construction CostFACT
₹131.9 Lakh
Construction Cost / UnitDERIVED
₹1.59 Lakh
Across 83 registered units
Postal PincodeFACT
—

Source: MP RERA Form B / project detail disclosure. Cost per unit is derived from estimated construction cost divided by total registered units.

3. Inventory & AbsorptionDERIVED

Category-level unit allocation and absorption rate

83Total Units
SOLD UNITSFACT
39 (46.99%)
REMAINING UNITSFACT
44 (53.01%)
ABSORPTION RATEDERIVED
46.99%

Mahanka inventory observation: The statutory registry records 83 registered units, with 39 sold and 44 remaining.

Unit CategoryGroupTotal UnitsSoldRemainingAbsorption
Residential PlotsPlot66363054.55%
ewsPlot71614.29%
ligPlot3030%
commercialCommercial property72528.57%

4. Project Timeline & Delivery StatusDERIVED

Factual progress relative to today's date

COMPLETION DATE PASSED
Proposed StartFACT
2022-01-01
Proposed CompletionFACT
2024-12-29
Project AgeDERIVED
1701 days
Days OverdueDERIVED
608 days overdue

5. Location & Micro-Market ResolutionMATCHED

Gazette revenue village and locality matching

DistrictFACT
Indore
TehsilFACT
—
Village / Locality (Source)FACT
—
Khasra NumberFACT
—
Address TextFACT
Khasra no. 313/2 Hectare Village Hingoniya Tehsil Kanadiya Distt. Indore (M.P.)
Matched LocalityMATCHED
Kanadiya
Tier: STRONG (86% conf.)

Match Evidence: Locality 'Kanadiya' in address/title with district indore

6. Promoter Delivery Track RecordDERIVED

Normalized corporate footprint across MP

Promoter EntityFACT
MEGA BUILDERS
Entity TypeFACT
Partnership Firm / LLP
MEGA BUILDERS4 Total Indexed Projects
COMPLETED0
ONGOING4
EXTENDED0
OVERDUE3
Portfolio Absorption: 34.56% across 434 registered units.

7. IGRS Statutory Guideline BenchmarkMATCHED

Official MPIGR Collector Circle Rates for micro-market

Residential Plot RateMATCHED
₹9,000 / sqm
Multi-Story ResidentialMATCHED
₹12,000 / sqm
Commercial OfficeMATCHED
₹28,200 / sqm

Guideline rates are source-linked from MPIGR FY 2026–27 Statutory Gazette for Kanadiya (Match Tier: STRONG).

8. Micro-Market Peer ComparisonDERIVED

Active RERA projects in Kanadiya

20 Peers in LocalityAvg Peer Absorption: 50%
ProjectPromoterStatusUnitsAbsorptionCompletion
ARCADIAnilesh-shri-vyasONGOING———
EXOTIC AVENUEritu-singalCOMPLETED430%2023-10-31
SANMAN CITYcity-sanmanONGOING1080%—
ARIHANT KETKAR REGENCYarihant-ketkarONGOING280%—
KG WOODLANDgurukripaONGOING———
SKYE SERENEearth-skyeONGOING———
THE GRAND VIRASAT Cbuilt-real-sarthak-vinayakONGOING———
GREENFIELD PALM BY OYSTERoysterONGOING———

9. Observable Risk & Delay SignalsINFERRED

Independent regulatory observations (not a composite score)

Proposed Completion Date PassedYES
Formally Extended by AuthorityNO
High Remaining Inventory on Overdue ProjectNO
Project Age Over 5 YearsNO

Each marker represents an independent observable signal from public filings. Mahanka does not aggregate these into a speculative score.

10. Indexed Statutory DocumentsFACT

167 categorized public files

FINANCIAL(1)
  • 📄 Engineer's Certificate
APPROVAL(4)
  • 📄 Nazul Clearance Case
  • 📄 Approval Town Country Planning
  • 📄 Consent Land Owner
  • 📄 Development Permission
REGISTRATION(2)
  • 📄 Affidavit
  • 📄 Affidavit Cum Declaration
OTHER(69)
  • 📄 Schedule F (Draft Brochure)
  • 📄 Project document
  • 📄 Project document
  • 📄 Project document
  • 📄 Project document
  • 📄 Project document
  • 📄 Project document
  • 📄 Project document
  • 📄 Project document
  • 📄 Project document
  • 📄 Project document
  • 📄 Project document
  • 📄 Project document
  • 📄 Project document
  • 📄 Project document
  • 📄 Project document
  • 📄 Project document
  • 📄 Project document
  • 📄 Project document
  • 📄 Project document
ALLOTMENT(1)
  • 📄 Draft Agreement
LAYOUT_PLAN(1)
  • 📄 Sanction Layout Plan
PHOTOGRAPH(2)
  • 📄 Jul 2025 - Sep 2025
  • 📄 Jul 2025 - Sep 2025

11. Longitudinal Change LedgerFACT

Immutable audit trail of regulatory updates

  • NEW_PROJECT15/8/2026

12. Data Completeness & MethodologyDERIVED

6-gate statutory completeness audit

100%Completeness Index
promoterPRESENT
timelinePRESENT
documentsPRESENT
inventoryPRESENT
project locationPRESENT
registration numberPRESENT
Formula Version: 1.0.0
Audit Timestamp: 2026-08-15T20:39:35.069Z
  • Coordinates are not published by MP RERA and are not invented.
  • Derived metrics & timeline classifications are Mahanka analytical models, not statutory certifications.
🗺

Micro-Market Competitive Landscape (5 km Radius)

Other RERA-registered developments competing in the same planning sector as PROGRESSIVE RAGA.

View all Indore projects →
ONGOING
📍 2.5 km

BHARAT PROGRESSIVE PARK

Promoter: MEGA BUILDERS

Expected: 2025-02-27Inspect →
ONGOING
📍 2.5 km

PROGRESSIVE PARK II

Promoter: MEGA BUILDERS

Expected: 2025-01-10Inspect →
ONGOING
📍 2.5 km

PROGRESSIVE AGR VIHAR

Promoter: MEGA BUILDERS

Expected: 2027-08-31Inspect →

Filing freshness & completionSource review

Document signals from indexed MP RERA source records.

80 indexed documents
Latest QPR
No QPR found in indexed source
Not found in indexed source
Latest APR
No APR found in indexed source
Not found in indexed source
Completion certificate
No certificate found in indexed source
Not found in indexed source

Freshness measures the age of Mahanka’s source capture. It does not certify statutory compliance or confirm that a filing was accepted by the authority.

Buyer due-diligence checklist

A source-led review path for this project.

✓RERA registration numberFoundP-IND-22-3495
✓Promoter identityFoundMEGA BUILDERS
✓Proposed completion dateFound2024-12-29
!Latest QPRReviewNo QPR was found in the indexed source.
!Latest APRReviewNo APR was found in the indexed source.
!Completion certificateReviewNo completion or occupancy certificate was found in the indexed source.
!Timeline changesReview1 source changes are visible in the project timeline.
✓Project statusFoundONGOING

Promoter portfolio & delivery history

Registered MP RERA footprint associated with the promoter name.

Open promoter 360 →
Registered projects
4
Completed
0
Extensions / delays
0
Cities represented
1
BHARAT PROGRESSIVE PARKONGOINGPROGRESSIVE RAGAONGOINGPROGRESSIVE PARK IIONGOINGPROGRESSIVE AGR VIHARONGOING

MP RERA authority contact

Role-based public contact for source verification and statutory queries.

Verify before relying
Real Estate Regulatory Authority, Madhya Pradesh

Rera Bhavan, Arera Hills, Main Road No. 1, Bhopal 462011

Phone: 0755-2556760 · 0755-2557955
Email: secretaryrera@mp.gov.in
Portal: Official website ↗
Last verified: 29 Aug 2026Published MP RERA record ↗
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Official Regulatory Source

This record was extracted from the public Madhya Pradesh Real Estate Regulatory Authority (MP RERA) registry.

View on MP RERA Portal
Source System:MP RERA Public Register
QA State:VERIFIED PUBLIC RECORD

City Directory

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Institutional Capital, Legal & Risk Suite

Acquisition Readiness & Asset Structuring for PROGRESSIVE RAGA

Live borrowing capacity, exact stamp dues, and institutional protection underwriting.

Loan-to-Value (LTV):
Tenure:
Benchmark Rate:8.5% p.a.
Max Loan Sanction (80% LTV)
₹ 60,00,000
Collateral Base: ₹ 75,00,000
Indicative EMI (20 Yrs @ 8.5%)
₹ 52,069 / mo
Principal + Interest Component
Total Upfront Cash Required
₹ 23,02,500
20% Margin (₹ 15,00,000) + Govt Dues (₹ 7,87,500) + Legal Vetting (₹ 15,000)
🏛️

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