Godrej MSR City RERA Approved Project in Bangalore
Godrej MSR City is a RERA approved residential project in Shettigere, Devanahalli, Bengaluru Rural. It is approved by the Karnataka RERA Board, effective April 1, 2025. The RERA number is PR/010425/007644. This project is a reliable choice for homebuyers looking for RERA approved apartments in Bangalore.
Godrej MSR City RERA Details
- Acknowledgement Number: ACK/KA/RERA/1250/303/PR/270325/009086
- RERA Registration Number: PRM/KA/RERA/1250/303/PR/010425/007644
- Promoter Name: M S Ramaiah Ventures LLP
- Project Name: Barca at Godrej MSR City
- Status: Approved
- District: Bengaluru Rural
- Taluk: Devanahalli
- Project Type: Residential / Group Housing
- Approval Date: April 1, 2025
- Proposed Completion Date: March 31, 2030
- Completion Date at Registration: March 31, 2030
To see more details, visit the official Karnataka RERA website: https://rera.karnataka.gov.in
what is RERA in real estate?
RERA Stands for Real Estate Regulatory Authority. The primary aim of RERA is to create fairness between property sellers and buyers, especially in the primary market. The main purpose of implementing this Act was to protect home purchasers and to boost real estate investments.
Benefits of RERA-approved projects
- Standardisation of the carpet area: Before RERA, there was no set method for how a builder determined a project's cost. Nevertheless, thanks to RERA, the carpet area is now determined using a standard formula. In this manner, promoters cannot raise prices by offering inflated carpet areas.
- Security: At least 70% of the funds belonging to investors and buyers must be maintained in separate accounts per the RERA Act. The builders will subsequently only be able to use this money for land-related and construction-related expenses. Developers and builders must demand at most 10% advance payment before signing the sale agreement for a property.
- Transparency: Builders must provide authentic documents for every project they carry out. Please let me know if you have any further questions or concerns. They are supposed to make changes to the plans with the buyer's consent.
- Fairness: RERA has now instructed developers and builders to sell properties according to the carpet area, not the super built-up area. If the project has been delayed, buyers are entitled to return the invested money.
- Quality: The builder must rectify any issue the buyer faces within 5 years of purchase and 30 days of the complaint.
- Authorisation: A regulator can only advertise, sell, build, invest, or book a plot if registering with the regulator. After registration, all investment advertisements should bear a unique project-wise registration number provided by RERA.
The term "RERA approved" assures homebuyers that the project is registered with the regulatory authority and adheres to the standards of transparency, accountability, and fair practices outlined in the Act. RERA approval is a testament to the project's compliance with the statutory requirements, providing buyers with confidence and legal protection in their real estate transactions.
