Prestige Gardenia Estates Rera Approval

Prestige Gardenia Estates has applied for Karnataka RERA approval and will receive it soon. The project has also applied for other neccessary approvals like BBMP, BDA, BMRDC, and banks. It will be launched after receiving RERA approval, and its launch date is Dec 2024. The project will be completed and possession-ready in Dec 2028 onwards.

RERA that stands for the Real Estate (Regulation and Development) Act, introduced in 2016. It ensures transparency and protects buyers' rights. The act registers projects, tracks timelines, and makes sure developers follow the law.

A RERA registered project gives surety to the buyers before investing. The project's RERA Registration number and Acknowledgement number will be posted on the official website. Buyers can check all the details of the venture and builder on the website. After the approval, the units in the project are ready for the buyer to book.

Prestige Gardenia Estates is a pre-launch marvelous residential venture located in Yelahanka, Bangalore. The project is spread over 14 acres and offers newly designed 2, 3, and 4 BHK flats. The SBA of these units ranges between 650 sq. ft. and 1600 sq. ft. It is a Prestige project and will be approved by all authorities.

The estimated date for RERA approval is:

• RERA Approval – expected to receive the approval in Dec 2024
• Launch of this project – Dec 2024
• Possession of the project – December 2028

RERA ensures full transparency between buyers and builders. Buyers no longer face delays in project delivery, as builders must meet deadlines. Since RERA's launch, malpractices have reduced, and buyers can file complaints if builders don’t follow the rules.

Benefits of investing in a Prestige Gardenia Estates RERA:

• Legally Authorized: RERA registration gives builders the legal right to sell apartments, plots, and villas. It also ensures buyers can access full project details before investing.
• Easy to Buy: The project is clear and provides all necessary information to buyers.
• Register Complaints: Buyers can file complaints if builders don’t follow the rules, and the authority will impose fines.
• Legal Actions: Buyers will receive what they were promised. If not, they can take legal action.
• Timely Delivery: The project must be completed on time. Buyers can complain if it's delayed.
• Interest on Delayed Payment: If the project is delayed, buyers can receive interest on their payment.

Some of the set RERA guidelines that builders have to follow are:

• If any issues arise within 5 years of possession, the builder will fix them at no cost within 30 days.
• There is a standard way to calculate the carpet area, preventing builders from inflating prices.
• If the project doesn’t match what was promised, buyers can refuse to buy and get a refund of the advance.
• The Act makes sure developers provide correct details to buyers.
• If there is a title issue when taking possession, buyers can claim compensation.
• The initial payment will never be more than 10% of the total project cost.
• Builders cannot make changes to the plans without the buyer's consent.

The project plan is ready and waiting for RERA approval. Since Prestige Group meets all standards, approval will come soon. After that, the project will be launched, and all details will be shared.

Highlights of Prestige Gardenia Estates