Prestige Evergreen RERA

Prestige Evergreen has yet to receive an RERA Certificate for its project on Varthur Road, Whitefield, East Bangalore. The builders have applied for the RERA and will shortly receive their approval. The apartment planning details, master plan, and pricing are all included in the documents provided for RERA approval.

The RERA Act and certificate were introduced in 2016 to address ongoing problems in the Indian real estate market. The act protects residential buyers, investors, and builders from financial fraud and aims to improve market efficiency, accountability, and transparency.

Advantages of owning RERA Certified properties:

• Trust and Regulatory Assurance: Once Prestige Evergreen gets its RERA approval, it will bring many benefits to homebuyers. RERA approval shows that the project is genuine and trustworthy. This makes buyers feel more secure when they invest in the property.
• Clear Information Benefit: RERA-approved projects give accurate details about the project, like the layout, when it will be finished, and the quality of materials used. This helps buyers trust the project.
• Timely Completion: RERA mandates that the developers adhere to project deadlines. If delays happen, buyers are entitled to compensation, ensuring timely delivery of their property.
• Builder Liability: RERA guarantees that developers address any construction defects within a specified period, typically five years, offering buyers peace of mind regarding the property’s durability.
• Escrow Account: Builders have to keep 70% of the money they collect from buyers in a separate bank account. This money can only be used for that project, keeping the funds safe.
• Dispute Resolution: RERA provides a structured mechanism for resolving disputes between buyers and developers, ensuring quicker and fairer resolutions than traditional legal routes.
• Better Quality Assurance: RERA makes sure builders follow government rules, leading to good construction and high-quality homes.

Prestige Evergreen

Prestige Evergreen is located on Whitefield Main Road, Varthur, East Bangalore. It features luxurious apartments on 28 acres of expansive land and 10 high-rise towers. It is the most anticipated project, with 2000 premium 1, 2, 3, 4, and 5 BHK residential units. The floor plans range from 650 sq. ft. to 3,698 sq. ft. The price of these modern flats starts at Rs. 1 crore and varies based on the size and features of the selected units. The builder has applied for RERA, and the details will be updated shortly.