The Real Estate (Regulation and Development) Act, commonly known as RERA, was enacted in 2016 in India to address the longstanding challenges and issues in the real estate sector. RERA aimed to bring about transparency, accountability, and efficiency in the real estate market, ultimately safeguarding the interests of homebuyers. These are key features that highlight the importance of RERA:
Transparency: RERA mandates that developers register their projects, providing comprehensive details about the project, including project plans, approvals, and timelines. This transparency empowers buyers with accurate information.
Builder Accountability: Developers are now held accountable for project delivery. Delays and deviations from the agreed-upon plans can result in penalties, ensuring developers adhere to timelines and commitments.
Advance Deposits: Builders are required to deposit a percentage of the project cost in a separate bank account. This provision prevents the diversion of funds to other projects and ensures that resources are dedicated to the specific project.
Title of Property: RERA mandates that the developer has legal title to the land and provides clear title to the buyer. This minimizes the risk of disputes related to property ownership.
Agent Accountability: Real estate agents must also register under RERA, ensuring that they adhere to ethical practices and act in the best interests of their clients.
Consumer Protection: RERA prioritizes the protection of homebuyers, providing them with a legal framework for grievance redressal and ensuring fair practices in the real estate market.
|Floor Plans||30*40,30*50 & 40*60 Plots|
|Total Land Area||Not Available|
|Launch Date||Not Available|
|Pre-launch Date||Coming Soon|
|Completion Date||5 years from launch|
Prestige Kings County, a luxurious plotted development by Prestige Group in Rajapura Electronic City, Bangalore, spans 80 acres. Offering plots, villas, mansions, or duplex homes. It hosts over 50 premium amenities and promises a serene, green haven for a comfortable lifestyle. The RERA status is currently in progress. The project aims to cater to over 800 satisfied customers in Bangalore's prime realty zones.
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