Always go for RERA approved projects in Mohali for secured, hassle-free, timely and guaranteed commitment. Mohali has been effectively placing itself towards one of the organized urban areas in India with its structural occurrence. It has a decent choice of properties from office space to 2/3/4 BHKs to villas for the buyers to choose from these properties. Modern technology combined with incredible structural infrastructure has been contributing fundamentally to it. The city is in close proximity to Chandigarh has been driving the development in the capital of Punjab and Haryana. The city has been continuously developing in real estate with builders moving to RERA registered projects in Mohali and timely completion. Mohali has the highest number of real estate transactions and is emerging as the prime destination for investment in the real estate market. Along with this, the state government has been committed to establish and promote the real estate market in Mohali. GMADA has been offering various plans, schemes, policies to meet the innovative and trending demands of the city.
Demand for RERA approved Projects in Mohali
RERA approved projects in Mohali are the first choice of the home-buyers. The benefits of approved projects are huge and are imaginably secure and documented. The projects reveal all details to the legal authorities with continuous development, support, and guaranteed commitment. The registered projects offer transparency with the submission of project updates to the authorities every quarter. The guidelines have helped to prevent fraud and defaulter cases. The accountability of the timely project completion with all promises validated to the allottees. The demand for RERA registered projects in Mohali has increased after the launch of this act.
This is due to the assurance of imposing penalties on the defaulters. Any disputes or compromise in the quality of the project will be penalized and liable to legal actions. The act brings financial discipline by introducing the escrow account. The builder needs to transfer 70 percent of the money received from the buyer to this account. Along with this, without any written sales agreement the advance payment cannot be more than 10 percent of the cost of the project.
Who are the Best Builders for RERA Registered Projects in Mohali?
The Mentor Group is one of the major leaders in the RERA approved projects in Mohali. With more than 50 years of certified experience in real estate development. The builders have maintained a portfolio of delivering superior construction standards. The team is known for on-time delivery and competitive pricing to benefit the investors. With tag line of move forward – together, the projects like Central Street, Prime Square, and etc are one of its kind crafted and spacious commercial properties.
Especially, Central Street which is situated along the National Highway 5 in Sector 67 gives exceptional benefit to the business owners to invest in this land. The location advantage includes proximity to Fortis Hospital, Puda Bhawan, Cricket Stadium and transport stations (road and railway). The Mentor Group is a team of certified and experienced experts who have decades of successful experience in industrial plot development, residential projects and commercial infrastructure.
Central Street: A Great RERA Registered Project in Mohali
Central Street in Mohali has gained the top position among all the RERA approved projects in Mohali. This commercial hub encourages community vibrancy. This project promotes the art of bringing communities together in a prosperous corporate environment. This inspires the employees and ensures a sense of belonging within all. As per the experts, diversification in real estate reduces investment risks. The risk (not limited to) of maintenance of payments, property taxes and etc. Investing in commercial projects gives a decent capital appreciation along with return on investment as minimum as 2-5% even under unstable market dynamics. The Central Street office space shows an immense income potential.
The property is situated at the prime location where the vacancy is less than 5%. This upcoming RERA registered projects in Mohali by the Mentor Group are approved by GMADA and will be equipped with superior connectivity, better livability, and top-notch infrastructure. The location enjoys its proximity to the international airport, railway stations, and other transport stations. The builders are known for delivering premium quality industrial parks and residential spaces.
RERA Registered Projects in Mohali
Initially, an area that was a cluster of some villages has today become a busy commercial place due to the RERA approved projects in Mohali. Mohali holds many opportunities for real estate along with the other facilities and amenities. The city is set at a valuable position connecting with key areas, it has easy access to Chandigarh and closes by cities like Ambala and Delhi. It is near to the international airplane terminal making it a feasible destination for investment. The city enjoys several reputable institutes for education which provides a great quality of education to the youth. Some of them being Indian Institute of Science Education and Research (IISER),
Chandigarh School of Business, Indian School of Business (ISB), and etc. The rise in demand for RERA registered projects in Mohali is due to its affordable prices and a variety of home-buying choices. The projects like Central Street, Prime Square and others by reputed real estate builders have made the city as the next investment destination.
What does RERA approval mean?
RERA approval brings uniformity and transparency among home-buyers, builders, brokers and other stakeholders of the real estate industry. It ensures timely completion, identifying risks and protects the interest of all parties for registered residential and commercial projects. The act also defines the penalties for any violation like delay in completion, or defect in the building and covers disputes with the buyers.
What is The Benefit of RERA?
- RERA act ensures that the accountability of the projects lies to the allottees.
- The registered project’s builders need to reveal every detail related to the project to the legal authorities and update them on a regular basis.
- The payments should be made by the buyer on the basis carpet area (within walls) and ensure that the builder does not charge for the super built-up area like lift, lobby, stairs, and etc)
- The act guarantees to impose penalties to builders for not meeting the time deadlines of the projects.
- Any defects in the building or related disputes procedure are defined in the act.
What are the RERA guidelines?
The guidelines of the act enrich the Indian real estate sector with financial discipline, transparency, risk management, efficiency, and accountability.
- For land (residential or commercial) over 500 sq meters, it is mandatory for it to be registered under the act.
- Quarterly updates on the project details including approvals, documentation, disputes, and etc should be submitted to the authorities.
- 70 percent of the money received from the buyer should be transferred to the escrow account to ensure financial discipline.
- A standard sales agreement has to be maintained between developers and home-buyers in order to protect respective sides from charges and penalties.
- The advance payment cannot be more than 10 percent of the cost of projects without any written sales agreement.
- The developer will be responsible for any defect or structural poor quality in the projects and would have to compensate or fix it within a desired period of time.
Is Central street, a RERA Verified Project?
Yes, the upcoming commercial hub of Mohali – Central Street is one of the RERA registered projects in Mohali. With a total area of around 8100 sq meters, it offers 23 plots for showroom and 9 plots for double story shops (DSS). Situated at the prime location in Mohali, this project is becoming the first choice for commercial real estate investors.
What is the strategic location of Central Street?
This upcoming commercial hub is situated along the stretch of National Highway 5 in Sector 67 in Mohali. The location is a fast-growing locality with well developed social infrastructures. Central Street brings the opportunity to promote the ease of business in the region. The location is near to the railway station and international airport. There are several schools, colleges, parks, markets, hospitals in close proximity.
What sizes are available in Central street?
Showrooms and DSS (double story shops) are the two categories of properties available in this project. The double story shop’s size range between 535 to 590 sq ft. and the showroom size for the basement and ground floor is around 1494 sq ft. and other floors range between 996 to 1122 sq ft.
Who is the Builder / Developer of the central street?
The Mentor Group is a team of certified and experienced experts who have decades of successful experience in industrial plot development and commercial infrastructure. The Central Street project is one of the best in the class designed, planned and modern architecture constructed with the latest technology by the Mentor Group.
How do I know if RERA approved projects?
Home-buyers can easily verify whether a real estate project is RERA approved or not. The government initiative to bring transparency for the consumers is achieved by using the rera.punjab.gov.in website. The projects can be searched using the name of the district, promoter name, registration number and project name. I always prefer to go for RERA registered projects in Mohali for a secure and transparent deal.
What if the project is not registered in RERA?
As per RERA guidelines, every residential and commercial real estate project must be registered and approved by the authority. The non-registered projects are at high-risk with the possibility of fraud and duped cases. The project details are kept hidden, there is no one authority to handle the grievances. There is no guarantee of the completion and quality of such non-approved projects.