Prestige Park Ridge RERA

Prestige Park Ridge has applied for RERA and is waiting for RERA approval. The Real Estate Regulatory Act was enacted in 2016 to ensure transparency, accountability, and property protection for home buyers. Throughout its years of existence, it has played a key part in protecting the rights of property buyers while maintaining a transparent code of conduct throughout the buying journey.

RERA has brought monumental change to the real estate industry since its inception. The benefits of the new RERA Act go beyond simply keeping developers accountable for project completion within the set timeline and to the highest safety standards. It has become an empowering tool for buyers that helps in decision-making and ensures everyone gets a fair deal on every property purchase.

Benefits of investing in RERA-approved projects

• Enhanced Transparency: RERA ensures utmost transparency in every real estate transaction by making it mandatory for builders and developers to provide timely, accurate, and comprehensive information about the project so that buyers can make an informed decision while purchasing any property.
• Standardised Carpet Area Calculation: RERA has standardised a nationwide measurement of carpet area on which real estate developers can sell properties. It denotes the actual usable area within walls rather than the space before finalising the entire property layout.
• Promptness in Project Delivery: RERA's biggest impact on the real estate industry is strictly enforcing the project delivery timeline for developers to help buyers set realistic expectations for the possession of the property.
• Eliminating False Advertising: RERA regulations ensure developers cannot add misleading information while promoting the property. All the information in the promotional material must be accurate and recorded with RERA to prevent customers from being victims of misleading advertisements.
• Clarity of Carpet Area Pricing: RERA mandates builders to disclose carpet area pricing clearly to make cost calculations more transparent. Buyers can get more clarity on the pricing structure for a better comparison.
• Right to Information: RERA gives buyers the right to know every crucial detail of the real estate project they want to invest in. It allows buyers to make sound decisions by helping them get the most accurate, real-time information and cost calculations without any discrepancies or misleading advertisements.

Prestige Park Ridge will strictly follow the rules and regulations put forward by the authorities. Prestige Group has always been known for providing quality and reliable projects. The project is developing in the serene surroundings of Bannerghatta Road in South Bangalore. It offers residents premium 2, 3, and 4 BK apartments.