38 Daffodils is a building of furnished studio apartments by Bluepearl on Pancard Club Road in Baner, sold to investors with a lease already in place. Instead of buying a home to live in, you buy a 200 sq ft studio that a co-living operator rents from you and lets out to working professionals.
This review explains how the offer works, what you get, the numbers, the location and the questions to ask, from the developer's brochure and the MahaRERA record.
In short: each studio costs ₹39.75 lakh (described as all-inclusive) and comes with a 10-year lease to the operator Dweller Pro at ₹18,000 a month to start, rising 15% after three years and 5% a year after that. The project is registered as MahaRERA PR1260002500765 with completion proposed for November 2028.
38 Daffodils at a glance
| Developer | Bluepearl (MahaRERA promoter: Blue Pearl Realty) |
|---|---|
| Location | Sr. No. 38, Pancard Club Road, Baner, opposite Ambrosia Galaxy |
| Studios | 84, on six floors, 14 to a floor |
| Size | 200 sq ft (16.58 sq m carpet + 1.96 sq m service area) |
| Price | ₹39.75 lakh, described as all-inclusive |
| Lease | 10 years (5+5), five-year lock-in, ₹18,000 a month to start |
| Completion (MahaRERA) | 6 November 2028 |
How a pre-leased studio works
You buy the studio outright. The developer's partner Dweller Pro, a co-living operator, takes it on a long lease, furnishes and runs it, finds the occupants and pays you a fixed monthly rent. The brochure states that the operator is legally obliged to pay the rent directly to the owners, and that the rent starts from the first day of the arrangement rather than at possession. You do not deal with tenants, but your income depends on the operator honouring the lease.
The studio
Each studio is 200 sq ft: a 12'5" x 14'8" room with two single beds, study tables and a wardrobe, plus a 7'3" x 5'3" toilet. The furniture list covers beds with mattresses and side tables, wardrobes, a smart TV and TV unit, study tables with chairs, an air conditioner, lights and fans, a geyser and exhaust, a shoe rack and a mirror. The brochure also lists a lounge, an indoor games room, a cafeteria, a gym and a theatre room for residents, shown with stock images.
The numbers
The rent is ₹18,000 a month for three years, ₹20,700 in year four and then 5% more each year, reaching ₹27,740 in year ten. Over ten years that adds up to ₹26.70 lakh. The brochure quotes an average return of 7.40%; on the ₹39.75 lakh price, our calculation gives about 6.7% a year on average and 5.4% in the first year, before tax. Our rental yield explainer goes through the figures year by year.
Location
Pancard Club Road runs through west Baner, close to the Mumbai–Bengaluru highway. By the brochure's drive times, the SmartWorks and Amar Madhuban offices are 1 to 2 minutes away, Balewadi High Street, The Orchid School and Jupiter Hospital 5 minutes, and Hinjewadi IT Park 10 minutes. That is the tenant base the operator is counting on: professionals working in Baner, Balewadi and Hinjewadi. Our Baner locality guide covers the area.
What to check before you invest
- The lease itself: who signs it, what happens if the operator stops paying, and whether you can take the studio back after the lock-in.
- What the ₹39.75 lakh covers (GST, stamp duty, registration) and who pays maintenance and property tax.
- Dweller Pro's track record with other buildings and owners.
- Whether the rent is paid during construction, as the brochure suggests, and from what date.
- The MahaRERA registration and completion date, using our MahaRERA checklist.
38 Daffodils: frequently asked questions
What is the price of a studio at 38 Daffodils?
₹39.75 lakh, described as all-inclusive. Confirm in writing what it covers.
How much rent will I get?
₹18,000 a month for three years, then ₹20,700 in year four and 5% more each year, by the brochure.
Who pays the rent?
The co-living operator Dweller Pro, which the brochure says is legally obliged to pay owners directly.
How big are the studios?
200 sq ft each, with a 12'5" x 14'8" room and a 7'3" x 5'3" toilet.
Is 38 Daffodils RERA registered?
Yes, as PR1260002500765, with a proposed completion date of 6 November 2028.
Can I live in the studio myself?
The offer is built around the lease to the operator, with a five-year lock-in. Ask the developer whether self-use is possible and on what terms.
