Godrej Shettigere has applied for RERA approvals and is expecting to receive by March 2025. It means the project is still waiting to be registered under the Real-Estate Regulatory Authority (RERA). Once the approval is granted, it will make the project more reliable for buyers and add transparency to the process.

After getting RERA approvals, the builder will launch the project. It is a forthcoming residential project by Godrej Properties, strategically located in Shettigere, near BK Halli Road, Bangalore. This expansive development spans over 60 acres, with over 20 acres dedicated to greenery and open spaces. The project offers around 2,000 units, comprising elegantly designed 2 and 3 BHK apartments, to be developed in multiple phases.

As of now, Godrej Shettigere is in its pre-launch phase. The RERA approval is a crucial step in giving the project's compliance with regulatory standards. It helps to provide transparency to potential buyers. The possession expected to commence from January 2029 onwards.

The major advantages of RERA-Approved Projects

The Real Estate Regulation Act of 2016 (RERA) was introduced to offer transparency, accountability, and efficiency to the real estate sector. Buying a RERA-approved property offers numerous advantages to homebuyers and investors. Here are some key benefits of RERA approved projects.

Transparency and Accountability

• Developers provide clear project details, which includes layout plans, approvals, and timelines.
• Any modifications in the project require the consent of buyers.

Timely Project Completion

• RERA mandates strict deadlines for project completion.
• Developers must compensate buyers in case of delays.

Standardized Carpet Area Calculation

• Carpet area is clearly defined under RERA, preventing misleading calculations by builders.
• Buyers only pay for the actual usable area, eliminating hidden costs.

Financial Security

• Builders must deposit 70% of the project funds in an escrow account to ensure proper utilization.
• This prevents fund diversion and minimizes the risk of incomplete projects.

Quality Assurance

• Developers are liable for structural defects for up to 5 years post-possession.
• They must rectify any defects within 30 days at no extra cost.

Transparency and Accountability

• Developers provide clear project details, which includes layout plans, approvals, and timelines.
• Any modifications in the project require the consent of buyers.

Fair Pricing

• Builders cannot charge excessive booking amounts (limited to 10% of the property cost).
• Price hikes due to arbitrary reasons are controlled.

Dispute Resolution

• RERA establishes a fast-track grievance redressal mechanism.
• Buyers can file complaints against unfair practices and seek resolution quickly.

Investing in Godrej Shettigere presents a promising opportunity for investors and end users. The project is close to the airport and major highways which increases its appeal. The development of new infrastructure in North Bangalore area is expected to improve property values in the region. All these factors make the project a best option for investors and end users.