RERA registered projects
RERA Registered Projects
RERA stands for Real Estate Regulatory Authority which came into existence in 2017 by the Real Estate (Regulation and Development ) Act 2016. It intends to regulate the real estate sector, protect the interests of homebuyers and investors, and bring transparency and accountability to the industry. It aims to save homebuyers from fraudulent practices that were prevalent before the act. The regulatory body oversees real estate transactions to protect homebuyers and investors from any discrepancies in the industry.
The Regulatory authority comprises experts from various fields who oversee the enforcement of the RERA Act within every state’s jurisdiction. The important guidelines under the regulation include:
1. Every builder and developer must mandatorily register their residential or commercial project on the RERA website with all the details accessible in the public domain.
2. The developer must follow the standard procedure to calculate the carpet area.
3. RERA makes it compulsory for the builders to complete the construction of the projects in the stipulated time.
4. As per RERA norms, every builder or reseller must follow a standard format for the sale agreements.
5. Under RERA guidelines, the builder cannot demand more than 10% advance of the property value.
6. All complaints against the builder in Mumbai must be made in writing to the RERA authorities in the respective jurisdictions. The RERA authority must resolve the grievance within 60 days.
The key Benefits of RERA
Increased transparency
Every developer must mandatorily register their projects with MahaRERA and provide important project details like project plans, approvals, permissions, carpet area details, and timelines on the official website. Property buyers can make informed decisions by referring to the information online and not depending on the developer.
Protection from delays
Developer is mandated to meet deadlines as declared on the RERA website failing which they are liable to heavy penalties. This ensures that the buyer is protected from delays and financial losses.
Dispute Resolution
The act ensures that any disputes between the parties are resolved faster fairly and transparently.
Why Choose ELV Projects
With over 15 years of commitment to excellence, ELV Projects is dedicated to delivering top-notch quality and unmatched excellence in the real estate industry to create inspiring living spaces and thriving communities. ELV PROJECTS continues to shape the industry with a legacy of perfection by infusing sustainability and innovation in their upcoming projects. The project portfolio includes luxurious apartments, villas, plotted developments, and cutting-edge commercial spaces. The ongoing projects are a testament to their continued efforts to achieve their long-term objectives.
1. ELV HighGarden
ELV HIGHGARDEN is a RERA registered luxury project with 368 units, comprising 2 BHK and 3 BHK luxury apartments, spread over 3.5 Acres in the most convenient location of Borewell Road, Whitefield. The project offers a 30000 sq ft clubhouse with more than 45 amenities for all age groups.
2. ELV Akruti Ark
ELV Akruti Ark is a luxurious villa enclave nestled in nature’s embrace away from the bustling Bangalore cityscape at Sarjapur- Attibele Road. Discover triple-floor homes at ELV AKRUTI ARK boasting ample parking, lush backyards, dual terraces, and beyond—perfectly catering to your growing family’s present and future requirements, offering elevated living experiences.
3. ELV 55° Eastfort
ELV 55 East Fort is an under-construction project in Bandlaguda Jagir, Hyderabad. The residential project by ELV Projects offers conveniently designed 2 BHK and 3 BHK apartments of 1200 to 2210 sq.ft. The project offers excellent amenities like sports courts, a swimming pool, a children’s play area, a party hall, Landscaping, and tree planting.
4. ELV Kingsland
ELV KINGSLAND is a luxury apartment project in the coveted Whitefield, Bangalore. The project area is 2.5 acres with 75% open spaces comprising 3 buildings with 233 units of 2, 2.5, and 3 BHK apartments. The project emphasizes eco-friendly living with modern luxurious amenities for every member of the family.
FAQs
RERA stands for Real Estate Regulatory Authority which came into existence in 2017 by the Real Estate (Regulation and Development ) Act 2016. It intends to regulate the real estate sector, protect the interests of homebuyers and investors, and bring transparency and accountability to the industry.
The important guidelines under the regulation include:
1. Mandatory registration of real estate projects with RERA.
2. Transparency by declaring all details of the project on the RERA website available to the public.
3. Developers to follow the standard procedure to calculate the carpet area.
4. Compulsory for the builders to complete the construction of the projects in the stipulated time.
5. Follow a standard format for the sale agreements.
6. Builder and Developer cannot demand more than 10% advance of the property value.
7. Complaints against the builders and developers to be submitted to the RERA authorities in writing.
RERA benefits the homebuyers in the following ways:
1. Increased Transparency – The project details and timelines are displayed on the RERA website which allows homebuyers to make informed decisions.
2. Protection from delays – The developers have to meet the deadlines declared on the RERA website failing which they are liable for penalties. Homebuyers do not have to struggle to get possession of their homes.
3. Dispute resolution - The act ensures that any disputes between the parties are resolved faster fairly and transparently.
The homebuyers can verify all the claims made by the developer by cross-checking them on the RERA website. The developer's details can also be found on the website which confirms their legitimacy.
Yes. All ELV projects are registered with the RERA.
The RERA registration numbers of ongoing ELV Projects are :
1. ELV High Garden - PRM/KA/RERA/1251/446/PR/181122/005469.
2. ELV Prakruti Ark - PRM/KA/RERA/1251/308/PR/180425/001554.
3. ELV 55° Eastfort - P02400004724.
4. ELV Kingsland - PRM/KA/RERA/1251/446/PR/181122/002144.