Rera and bmrda approval property
Hi Sir,
Good Day Greeting!
I'm planning to purchase a residential plot in Bangalore outskirts which is a gated community.
The Project owner and builder claims that this project is BMRDA (Bangalore Metropolitan Region Development Authority) approved and is also registered under RERA. But in the official company website it says the project is still under BMRDA approval process. Can you please help answer my below questions-
1. If the project is still under BMRDA approval procedure, can I still go ahead and buy the plot or do I need to wait until its approved? (The developer claims it is going to be approved in another 6 months)
2. This developer has multiple projects, is RERA number allotted based on 1 builder or based on different projects different RERA number?
3. I understand the importance of RERA, but if this project is still not approved by RERA, can't I go ahead for purchasing since still BMRDA authority has not approved the layout?
4. As a Pre-launch offer, the developer is asking to pay 25% of the total amount and rest at the time of registration after 4 months once the layout is approved by BMRDA authority, so is this fine for me to proceed?
Waiting for your kind response
thank you
Shrinidhi