Nambiar District 25 Rera Approval

Nambiar District 25 has applied for RERA approval from the Karnataka RERA Board, which is expected in October 2024. Approvals from BBMP, BMRDC, BDA, and banks are also in process. The project is set to launch on November 01, 2024. The possession and occupancy are planned for December 2028, after 4 years of construction.

The RERA Act, 2016, is a law that regulates the real estate sector. It protects the interests of homebuyers. It aims to bring transparency, accountability, and efficiency to the real estate industry.

Once the project gets RERA approval, its RERA number will be shared on the RERA website. After that, the project will be launched in the same month, and bookings for the units will begin.

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

RERA gives buyers full transparency about the property and the dealings between buyers and developers. Buyers no longer have to worry about delays in project delivery, as builders must meet the promised timelines. Since RERA was introduced, unfair practices have been greatly reduced. Builders must follow all the rules under this Act; buyers have the right to file a complaint if the builder does not follow the rules.

Benefits of RERA approval

1. Consumer Protection:

Quality Standards: RERA ensures that projects meet quality standards. It protects buyers from fraud builders and poor construction.

2. Transparency:

Detailed Information: RERA gives detailed information about the site. It shows the plans, schedules, budgets, and other legal approvals.

Informed choices: Transparency helps buyers make well-informed choices based on accurate details.

3. Advance Payment Regulation:

Limit on Advance Payments: Builders can charge up to 10% of the total project cost as an advance. This rule helps prevent buyers from paying large sums upfront.

4. Fast Delivery:

Reduced Delays: RERA enforces strict completion deadlines, reducing delays.

Compensation for Delays: Builders must compensate buyers for any delays in delivery.

Fast Resolution: RERA has a system to quickly resolve disputes, making sure both buyers and builders get fair results.

5. Following RERA Rules:

- Nambiar Group Commitment: All projects of the builder, like Nambiar District 25, will follow RERA rules.

- Quality and Transparency: The developer will maintain high quality, use standard building materials, and deliver on time.

- Better Reputation: Following the RERA guidelines will boost the developer's reputation for quality and transparency.

Benefits of Nambiar District 25 RERA Approval:

• Clear Title: The project ensures full transparency. The builder must provide all details to the buyers. Buyers can file a complaint if the builder does not follow the rules.
• Follow Guidelines: Builders must follow all the rules. If they do not, buyers can legally file a complaint. The authorities may impose fines on the builder.
• Timely Completion: Since the project is RERA-approved, it will be finished on time.
• No Delay Payment: If the project is delayed, buyers can receive interest on the delayed payments.
• Buyer Protection: Buyers will get what the builder promised. If not, they can take legal action.

The project is designed to offer a great experience with top features and a sustainable environment. It has large green spaces that add beauty to the area. The brochure highlights that the location has many malls and schools, making it perfect for families. It is also close to several IT parks, offering job opportunities.

Highlights of Nambiar District 25