The pitch for 38 Daffodils in Baner is simple: pay ₹39.75 lakh for a furnished studio and collect rent from day one. This explainer works through the rent schedule in the brochure, shows what the yield really is on the price you pay, and lists the risks that sit behind a "pre-leased" label.
The rent figures are the brochure's; the yields and comparisons are our calculations.
In short: ten years of rent add up to ₹26.70 lakh. On ₹39.75 lakh that is about 5.4% a year at the start, rising to 8.4% by year ten, or 6.7% a year on average, a little below the 7.40% the brochure quotes. The return depends entirely on the operator paying for the full lease.
The rent schedule, year by year
| Year | Monthly rent | Annual rent | Yield on ₹39.75 lakh |
|---|---|---|---|
| Year 1 | ₹18,000 | ₹2,16,000 | 5.4% |
| Year 2 | ₹18,000 | ₹2,16,000 | 5.4% |
| Year 3 | ₹18,000 | ₹2,16,000 | 5.4% |
| Year 4 | ₹20,700 | ₹2,48,400 | 6.2% |
| Year 5 | ₹21,735 | ₹2,60,820 | 6.6% |
| Year 6 | ₹22,822 | ₹2,73,864 | 6.9% |
| Year 7 | ₹23,963 | ₹2,87,556 | 7.2% |
| Year 8 | ₹25,161 | ₹3,01,932 | 7.6% |
| Year 9 | ₹26,419 | ₹3,17,028 | 8.0% |
| Year 10 | ₹27,740 | ₹3,32,880 | 8.4% |
| Total | ₹26,70,480 | 6.7% a year on average |
The rent stays flat for three years, rises 15% in year four and then grows 5% a year. The yield column divides each year's rent by the ₹39.75 lakh price.
Why our average differs from the brochure's 7.40%
₹26.70 lakh over ten years averages ₹2.67 lakh a year, which is 6.7% of ₹39.75 lakh. To reach 7.40%, the price would have to be about ₹36.1 lakh. Our guess is that the brochure measures the return against the price before stamp duty, GST and registration, while ₹39.75 lakh is the all-in amount you pay. Either way, judge the return on the money that leaves your account.
What you keep after costs and tax
- Tax: rent is taxed as income from house property; a standard deduction of 30% applies, and the rest is taxed at your slab rate.
- Maintenance and property tax: ask who pays them. If they fall on you, they come straight off the yield.
- Furniture: ask who repairs and replaces it over ten years.
For someone in the 30% tax bracket, a 5.4% first-year yield is roughly 4.3% after tax, before any costs. That is the number to compare with your other options.
The risks behind "pre-leased"
- Operator risk: your income depends on Dweller Pro filling the studios and paying owners for ten years. Ask for its record with other buildings, and what the lease lets you do if payments stop.
- Construction risk: completion is proposed for November 2028. Check how rent is paid before then, and what happens if the building is late.
- Exit risk: a 200 sq ft leased studio has a narrower resale market than an ordinary flat; the five-year lock-in also limits your options.
- Value risk: at about ₹19,900 per sq ft of total area, you pay a premium over typical Baner flat rates for the furnished, leased package.
Who it suits
In our view, 38 Daffodils suits investors who want a hands-off, fixed-rent asset in a strong rental area and accept that the return depends on one operator. It suits less well those who want the flexibility to live in the property, sell quickly or push rents up with the market.
For the project itself, read our 38 Daffodils review; for the area, our Baner locality guide. Check the registration with our MahaRERA checklist, and see Bluepearl for the developer's other projects.
38 Daffodils rental yield: frequently asked questions
What is the rental yield at 38 Daffodils?
About 5.4% in the first year and 6.7% a year on average over ten years on ₹39.75 lakh, by our calculation. The brochure quotes 7.40%.
How much rent will I earn over ten years?
₹26,70,480 in total, by the brochure's schedule: ₹6.48 lakh in years one to three and ₹20.22 lakh in years four to ten.
When does the rent increase?
By 15% at the start of year four, then 5% every year.
Is the rent guaranteed?
It is set out in the lease with the operator, Dweller Pro, which the brochure says is legally obliged to pay owners. It is only as secure as the operator and the lease terms.
Is rental income taxable?
Yes, as income from house property, after a 30% standard deduction.
What is the lock-in period?
Five years within a 10-year (5+5) lease.
