Nambiar District 25 RERA
Nambiar District 25 RERA approval has been issued by the Karnataka Real Estate Regulatory Authority (Registration Number PR/100125/007377). The builder followed all RERA guidelines for developing this prime project on Sarjapur Road and officially launched it on January 10, 2025.
All the project documents, including the master plan, legal documents, and pricing details, are now available. The project is being developed on 63+ acres of land, featuring commercial centers and IT workplaces.
The Real Estate Regulatory Act (RERA) came into existence in 2016 to address fraud and ongoing problems faced in the real estate market. The Act protects buyers and investors from false advertisements and investments in real estate projects. Builders should get approval from the RERA authority to start developing their project and to advertise it for investment and sales. According to the RERA rule, builders will be responsible for any financial fraud caused by the project and should maintain transparency in their transactions. Main features and importance of RERA.
- Regulatory Assurance: RERA certification ensures that the project is under the guidelines issued by the authority and follows the required procedure in the development. It gives investors and buyers assurance that they will invest in an upcoming residential project.
- Timely Completion: RERA mandates that the developers stick to the project completion date. According to project planning and development, the builders should hand over completely developed homes to the investors in a given period of time. If they fail, they should compensate the investors and homeowners.
- Builder Liability: Projects under RERA provide safer living spaces with quality raw materials utilized in the construction. If failed to produce quality and long-lasting homes, the developers are liable for any loss caused by the investors. The construction defects in a specific period of time will be under builder liability.
- Escrow Account: The builder should deposit a part of the project funds in an escrow account. It helps to prevent the money from being utilized for other external investments.
All real estate projects must be registered under RERA to promote their project and attract public investments. The RERA Authorities provide safety for public investment money without causing any financial scams.
