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:

• Regulatory Assurance: RERA certification ensures that the property adheres to strict regulatory standards, providing buyers with confidence in the legitimacy and quality of the construction.
• Transparency: Developers must provide accurate project details, including timelines, costs, and specifications. This transparency minimizes the risk of hidden charges and ensures buyers know what they are investing in.
• Timely Completion: RERA mandates that the developers adhere to project deadlines. If delays occur, 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: Developers must deposit a significant part of the funds into an escrow account. This ensures that the money is used solely for the project and reduces the risk of financial mismanagement.
• Dispute Resolution: RERA provides a structured mechanism for resolving disputes between buyers and developers, ensuring quicker and fairer resolutions than traditional legal routes.

Prestige Evergreen

Prestige Evergreen is located on Whitefield Main Road, Varthur, East Bangalore. It features luxurious apartments on 28 acres of expansive land and 18 high-rise towers. It is the most anticipated project, with 1368 premium 3, 4, and 5 BHK residential units. The floor plans range from 2005 sq. ft. to 3700 sq. ft. The price of these modern flats starts at Rs. 2.90 crores 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.