Birla Ojasvi RERA

RERA approval for Birla Ojasvi is expected in June 2024. Following the approval, the project will be open for booking. The price of the apartments will be revealed after RERA has granted permission.

Birla Ojasvi: Ensuring Quality and Transparency with RERA Approval

Birla Ojasvi has applied for RERA clearances, aligning with the Real Estate Regulatory Authority (RERA) guidelines established under the Real Estate Act 2016. It ensures a regulated and transparent real estate industry, protecting property buyers and fostering trust between buyers and sellers.

RERA Overview:

• Established in 2016, RERA regulates the real estate industry and addresses concerns from property buyers.
• Mandatory Registration: All real estate projects must be registered with RERA, which ensures adherence to guidelines and provides authority jurisdiction.

Benefits of RERA Approval:

1. Consumer Protection:
   • Quality Standards: RERA approval guarantees that projects meet quality standards, protecting purchasers from dishonest developers and subpar construction.
2. Transparency and Information Accessibility:
   • Comprehensive Information: Developers must furnish detailed information about the project, including developer details, layout plans, schedules, budgets, and legal clearances.
   • Informed Decisions: Transparency allows customers to make informed decisions based on accurate information.
3. Advance Payment Regulation:
   • Limit on Advance Payments: Builders can charge up to 10% of the project cost as an advance or application fee, preventing buyers from having to source significant funds quickly.
4. Prompt Delivery:
   • Reduced Delays: RERA sets strict rules for project completion dates, reducing the likelihood of delays.
   • Compensation for Delays: Developers are responsible for compensating buyers for delays, ensuring timely possession.
5. Dispute Settlement System:
   • Efficient Resolution: RERA provides an effective dispute settlement system with adjudicating officers and appellate tribunals, promoting prompt and equitable resolution of disputes between purchasers and developers.

Commitment to RERA Compliance:

• Birla Estates' Commitment: All projects by Birla Estates, including Birla Ojasvi, will comply with RERA guidelines.
• Quality and Transparency: The developer will uphold quality standards, use conventional building materials, and ensure timely delivery.
• Enhanced Reputation: Adherence to RERA guidelines and commitment to quality and transparency will improve the developer's reputation.

Investing in Birla Ojasvi, a RERA-registered project, ensures protection from fraudulent behaviour, adherence to quality standards, and transparency in the buying process. This commitment to excellence makes Birla Ojasvi a reliable and secure investment choice for homebuyers.

As a buyer or investors, we can avail ourselves of numerous help or benefits from RERA, such as

Project Postponements:

Project delays are one of the main worries of us as buyers. To tackle this, RERA mandates that developers follow the project completion schedule given at the time of registration. Developers are responsible for any delays and might have to pay compensation.

Transparency:

RERA has made the registration of new residential projects mandatory. So that RERA can validate the project profile with multiple checklists and ensure that it's a worthy property to buy. After that confirmation, RERA provides the developer with a unique RERA number. RERA eases the buying process, and we get access to information that facilitates an informed decision-making process.

Payments in Advance:

RERA places a cap on the amount of money builders can request from us before the sale agreement. This regulation will stop the developer from funding other projects and allow us to guarantee the security of our funds.

Defects and Structural Problems:

RERA shields purchasers from shoddy building practices and structural flaws. Developers must fix any problems without charging extra if they are found within five years of ownership.

Modifications to Project Plans:

Only with the approval of two-thirds of the buyers' developers can major changes to the project be made. The policy guarantees that the project's overarching goal stays true to what was first promised.

What are the key elements to be focussed on in RERA Information?

Check the RERA Registration Number:

The RERA number should be validated on the RERA website to ensure we pick the RERA-approved property.

Examine the project details:

Check if the project details furnished by the developer match the RERA portal. Some factors to be validated are project financial status, possession date and completion date.

Consult Legal Experts:

If navigating RERA guidelines seems overwhelming, seek advice from legal experts specialising in real estate. They can help you understand the implications and intricacies of the regulations.