It is possible that, as a first-time buyer while deliberating on purchasing a dream abode, choosing an apartment will cause you to second-guess your thoughts. After all, it's your hard-earned money and the secure future of your family that’s on line. There was once a time when different builders had different standards and principles applied to the purchase of an apartment, stirring confusion among home buyers. This is the reason why the Indian government brought about a revolutionary change in 2016 to safeguard the interests of existing and potential buyers.
The Real Estate (Regulation and Development) Act was enacted in 2016 and the Real Estate Regulatory Authority (RERA) was born. The Kerala Real Estate Regulatory Authority (KRERA) was founded by the Kerala government to regulate and enhance the real estate industry in the state. KRERA is the new real estate champion, supporting accountability, citizen-centric policies, and greater financial discipline while defending the rights of investors. This Act is a sigh of relief for consumers as it makes real estate dealings transparent.
Here are the positive RERA ACT benefits for why you can confidently buy an apartment now:
? Exposure to comprehensive information
One of the most essential benefits of RERA for house buyers is the right to property information. You get thorough information about the property that you are purchasing as a home buyer. When it comes to making prospective selections, this type of knowledge can be quite useful to a purchaser. The developer or builder should share with you all the project information, such as the layout plan, building phases, action plan, and completion status.
? A normalised carpet area
The carpet area, or the area of the apartment apart from the width of the inner walls, is the space that can actually be covered by a carpet. Prior to the RERA Act, builders used their own technique or calculation for estimating the carpet area of a unit or property. RERA, on the other hand, has codified or standardised how a builder determines the carpet area. As a result of the RERA Act's implementation, a builder must now specify how much carpet space they are providing. Property prices in India are now determined by carpet area.
? No more holdups in projects
The possession date for each flat must be specified by the property developer. The developer will face a flurry of penalties if the project is not completed by the deadline. If the developer fails to deliver on the specified date, the buyer has the option of either withdrawing from the project and receiving a complete refund, including interest, or continuing to work on it and receiving reimbursement and interest.
? Control over advances
One of the great benefits of RERA is that a builder cannot charge more than 10% of the cost of the flat as an advance or application fee before entering into a sales agreement.
? Flaws are held responsible
If a buyer discovers any flaw or problem in the structure, quality, or service of the flat within 5 years of ownership of the flat, the builder is required to rectify the deficiency within 30 days at no additional cost under the RERA Act. The buyer would be able to claim compensation if the builder failed to correct the fault.
? Mending broken promises
The buyer has the right to litigate if the builder's obligations or promises regarding the actual project do not match. The buyer then has the right to decline the projects and receive a full refund of the initial deposit, plus interest and compensation.
? Approval before selling off
Builders may have sold projects without the necessary permission in the past. This is not the case under RERA now. Builders and real estate brokers will be obliged to register with the authorities, providing every detail about their projects, and only then will they be permitted to sell them after receiving the necessary approval.
? Prohibition to deviate funds
Typically, a developer will be working on multiple projects at the same time. They used to be able to divert funding between projects as they pleased. After the implementation of RERA, this will no longer be possible. The builder must set aside 70% of the project's proceeds in a separate bank account. He can only withdraw money from such an account after the project has been completed and certified by a civil engineer, an architect, and a practising chartered accountant. Because the funds can no longer be diverted to other projects or used for other purposes, they will be used for their intended purpose.
? Fast track grievance redressal
Complaints against a builder can be brought to the state body established under RERA, which will have the jurisdiction to resolve all. If you disagree with the order, you may appeal to the Appellate Tribunal, which will resolve your case within 60 days. It will keep track of the reasons for any failure to do so also.
The Varma Promise
We at Varma Homes understand the buyer’s requirements and concerns. Therefore, all of our projects from the year 2019 are KRERA approved, following the industry norms, and are delivered as per our given commitments. We consider RERA as an opportunity to comply with a rule that warrants the hard-won endeavours and investments of many. If you aspire to buy an apartment in Kerala, Varma Homes is all set to take you ahead.
We are a renowned real estate builder who specialises in providing accessible residential properties. You can select from a variety of alternatives to meet your needs and budget. We started with residential construction in Kochi and have since expanded to Trivandrum and Thrissur. Our major launches will be coming soon in Calicut and other important cities. Choose the option that best meets your requirements! For additional information, please contact us at 9645 88 33 33.
Cochin has welcomed a lot of people from many parts of the state especially due to its incredible growth in job sector and infrastructure development. Nowadays people have started choosing new flats and new apartments outside the city limits of Kochi. Major reasons for that include increasing price ranges and unavailability of space in projects inside city. When you are looking for new luxury flats or new luxury apartments in Kochi outer city, Edappally will be one of the best options as it is said to be one of the fastest growing areas in the city of Kochi. It is also known as the ‘Entrance to the Kochi city’. Having apartments in Edappally will ensure that you live in close range of city limits yet keeping a healthy distance from the crowded city. The Kochi Metro Station marks a prime location for Edappally and this makes various locations inside the city more easily accessible for residents of flats in Edappally. The two national highways (NH 47 and NH 17) join the Kochi Bypass Junction at Edappally. The National Highway 17, which extends to Panvel, Maharashtra starts from Edappally ensuring easy access to and from major cities across the country. Another factor which will make you choose flats in Edappally is the close amenities of educational institutions and places of entertainment. Amrita Institute of Medical Sciences (AIMS), Amrita School of Arts and Sciences, Govt. Vocational and Higher Secondary School-Edappally North, Bharathiya Vidya Bhavan Elamakkara etc. are at nearest locations of Edappally. Places of worship like more than 1000 years old Edapally Juma Masjid, Edapally Ganapathy Temple, St. George Syro-Malabar Catholic Forane Church, Edappally etc. also are major attractions for someone looking for luxury flats in Edappally. Cochin has India’s largest shopping mall in Edappally – Lulu Shopping Mall, built on an area of 17 acres. Oberon mall, the first full format mall in Kerala is also a finest attraction of Edappally. Oberon is around 1 km distance from the Edappally Junction. The night life of Cochin has become Lulu focused and visitors flow continues even late night. Varma Homes, the builders in Cochin offer flats and 2 bhk luxury apartments in Edappally near Lulu Mall to ensure you best access to the favourite shopping location of today’s Cochin. The best home builders in Kochi, Varma Homes’ compact apartments – Varma Regent is being built at Edappally. Varma Regent is one of the current ongoing residential projects of Varma Homes, located at Ponekkara. The 2 BHK luxury homes ranging between areas of 862 sq.ft to 1357 sq.ft ensure all premium facilities on an affordable price range. Varma Regent is on its last phase of completion and the project will get accomplished by the end of December. Most of the units of Varma Regent are already sold out and only few units are left. If you are looking to buy an affordable apartment in Edappally with luxury amenities, pay a visit to Varma Regent’s sample apartments which is all set for the home seekers so as to make a wise decision on buying it. We at Varma Homes, the top builders in Edappally always create the best living spaces meeting the requirements of our clients. If you are looking forward to buy apartments in Edappally, Varma Regent is the best option. For more details, contact us today. Call +91 9645 88 33 33 for more details.Read More
According to legend, Keralans can be found all over the world. The cause of this was the fact that Kerala lacked enough employment options for many highly educated people. Due to this, many moved to Arab and European countries to start their careers. In India, people moved in greater numbers to cities like Delhi, Kolkata, Mumbai, and others.With improved employment prospects and financial prosperity in Kerala, particularly in major towns like Kochi, things have changed somewhat in recent years. People began to return to Kerala as a result, settling in various cities all around the state. Due to its transformation into Kerala's industrial and information technology centre, Kochi was the main focus of the majority of those individuals. People who have chosen to relocate to Kochi believe that apartments and flats there are preferable than traditional homes.The development of the industrial sector increased Kochi's potential as the greatest location for residential projects like flats and apartments. In Kochi, there are several luxury flats and apartments that are ready to move into. In the next few years, Kochi is expected to add roughly 100,000 new residential units.Real estate investments in Kochi are promising because significant projects like Smart City and InfoPark in Kakkanad are anticipated to generate a significant portion of the city's employment in the near future. And as a result, there is an increasing daily demand for Kochi apartments for sale. That is what motivates builders in Kochi to launch brand-new luxury apartment developments all throughout the city.The sky-high real estate prices in upscale areas of Kochi encourage people to search for flats or apartments in the city. The level of comfort offered by ready to move-in luxury apartments in Kochi exceeds expectations, which encourages people to choose them without hesitation. The guaranteed profits that flats in a city like Kochi offer are another key draw. Even if you don't intend to move into the Kochi flat you purchased, you may always choose to rent it out and make some extra money.Apartment complexes with nearby amenities like businesses and schools are in high demand. The best places to choose an apartment are those with superior amenities. Recent improvements in transportation, including new highways and the Kochi Metro, make Kochi an easy destination to connect to, which makes more and more locations appealing for habitation.Varma Homes offer flats in Kochi with the most contemporary design style and architecture. We have been giving flats in Kochi and have a huge happy client base. On-time fulfilment and delivery of projects are some of our strong points. Our flats in Kochi use the most advanced technology, including contemporary design while keeping the highest standards in quality.Read More
Materials are the solution to a well-functioning building, as an excellent structure can only be achieved with high-quality materials. When you buy a house or a flat, it is essential to have clear information regarding the quality of the products used at the time of booking. The materials used have a significant impact on the construction quality. The choice of building materials will determine the ultimate durability, longevity, and style of the building. That is where Varma Homes reigns high as the top builder in Kerala. At every step of construction, Varma Homes ensures quality to build a dream home because we value customer happiness above all. It can be difficult to choose the best product option for diverse needs. Therefore, in the construction industry, material selection is an important part as a number of aspects must be considered. As a trusted building partner in Kerala, projects of Varma Homes achieve optimal results by selecting a product or brand that mainly focuses on the following factors:1. Supreme quality: Only high-grade materials are sought after for all our projects, and hence we choose a brand that serves this purpose. These supreme products are capable of adapting to the varied climatic conditions without degenerating. The materials we select ensure the longevity and strength of the building structure, thereby becoming a profitable future asset for the user. 2. Availability: Brands with readily available stocks are another major factor we prefer. The availability of materials determines the finishing time of a building. Locally obtainable materials are our time savers, through which our work gets smoothly completed. This is one of the reasons why we earned the title for completing 6 projects within a span of 5 years ahead of schedule. 3. Cost: When searching for different types of construction materials, the prices have soared and always vary greatly. We believe that looking for the cheapest products is not always the best option because, if we don't consider their lifespan, we may end up having to restore them frequently, which is costly. We pick only construction materials that are both cost-effective and will last a long time. 4. Service: A great product gains our trust and we would vouch for it in the future too. Service is a pivotal aspect that strengthens a project from its inception to completion. As success is a combined effort, we opt for materials that provide us with the best service. By doing so, we have risen to great heights. When we choose vendors certain other points are taken into account such as:1. On-time delivery: We only work with vendors who deliver products on time, every time. Even minor project delays might result in dissatisfied consumers and financial losses. As a result, we only work with vendors who produce products on time to avoid delays in our work. 2. Wide selection of materials: A great vendor would have a wide variety of items and supplies on hand. This way, we can get all of the goods we need in one place. This helps us save time by eliminating unnecessary delays in procuring from various providers for various projects. 3. Proven experience: Using a supplier who hasn't been around for a long time is always a risk. That is why we take care to collaborate with vendors who have extensive experience in this industry. Senior managers and the sales team of Varma Homes are involved in deciding on the brand or material for a project. We choose the final brand or material only after considering their suggestions. The most important thing is that we never cut corners on material quality to save money. During the material selection process, the purchase department of Varma Homes places the greatest emphasis on this element. Sustainable InitiativesExtensive experience has shown us how much waste is generated in the construction of not only buildings, but any structure for that matter. We intend to employ every component that goes into construction cautiously and properly in our projects for a productive cause. We also have an IGBCE LEED Certificate in this area. Since its inception, Varma Homes has effectively established itself as one of Kerala's most trusted builders. We started with residential developments in Kochi and then expanded to Trivandrum and Thrissur. Our main launches will take place in Calicut and other major cities in the near future. It is our full-time goal to provide the best value and service in our price range, and we've succeeded time after time. It is because we believe in constructing happiness for everyone by fulfilling their dream abode.Read More
If you are looking for the best ready to move apartments in Kochi, look no further. Varma Homes presents, Varma Padipura. Our new apartment project in Tripunithura, Kochi offers the finest luxury 2 and 3 BHK flats in Kochi. With all modern amenities and easy accessibility, it is the perfect luxury home for you. It is a B+G+11 floor apartment with a perfect blend of contemporary architecture and features to deliver comfy living. The master plan of Padipura is designed in such a way that this apartment comprises of broad space with proper ventilation at each corner of the house. The interiors are exquisitely designed with stylish tiled floor, latest sanitary fittings in the bathroom, polished kitchen countertop, and huge windows for proper sunlight. It is another nearing completion project from the house of Varma Homes that match the desires of customers with a one of a kind mark of modern living. We at Varma Homes trust in investing our full efforts to construct happy homes for our customers to realize their dream of perfect homes. Our incomparable quality and highest standards in constructing homes ensure a comfy lifestyle for its inhabitants. Like our all apartments we can assure that, Padipura will become our next milestone in our vision of constructing happiness. Become Acquainted With Superb Amenities & Accessibilities at Padipura Padipura, situated in the land of royalty, the rich historical values of Tripunithura re?ects the depth of art, culture, and faith. It is far away from the hustle and bustle of the city but gives you sound access to all conveniences that today’s fast-developing world demands. It is very close to the famous Statue Junction of Tripunithura, the most appropriate place to have your dream home. The neighborhood is well connected with the city by rail, bus and cabs. Basic facilities like Hospitals, medical, banks, schools, educational institutions, shopping complexes, markets, entertainment zones, and tourists centres all are within an easy reach. This 2 BHK & 3 BHK apartment in Tripunithura is situated very close to the famous Poornathrayeesa Temple which lightens the lamps to the trail of the supreme deity. Also, it is standing just behind the Kallikotta Palace, a place where traditional south Indian art forms like Vocal Carnatic Music Concerts, Kathakali, etc are held. It's also now used as a marriage auditorium so localities take pride in holding their marriage functions here. Living in such a royal and pure temple town may be a dream for persons who would love to have a serene and divine life. The proximity to famous school Chinmaya, colleges, supermarkets, Infopark and above everything else will surely be the main highlights of living in this apartment. On top, it gives the citizens easy access to all the essential needs and modern comforts of the city. So enjoy the full benefits of happy living with Padipura. With all the high-end amenities including rooftop swimming pool, health club, fully automatic lifts-2nos, children's play area, intercom facility, terrace garden, recreation space, sewage treatment plant and beautiful surroundings of Padipura promises sundry choices to unwind and refresh at own home. Moreover, space offers you ample rest and peace of mind. Now our model apartment is ready, you are welcome. Come and visit to experience the grand living as never before in the heart of Kochi. Booking Open, Hurry! Only a Few Units Left…Read More
Do you have any experience with living in Kochi's luxury apartments? Luxury apartments are becoming the new standard of living for people who want to improve their quality of life. The serene atmosphere, interiors outfitted with cutting-edge technology, opulent amenities, and more space provided by luxury premium flats in Kochi allow you to live life to the fullest.Modern Kochi luxury apartments are inexpensive!Your goal of owning a luxurious apartment in Kochi is now a reality. Nothing could be more satiating than the affordably priced but luxurious Flats in Kochi. In addition to constructing luxurious apartments in Kerala and all the other major cities, Varma Homes also attempts to keep their prices low.Varma Homes offer you affordable Luxury Flats in KochiVarma Homes is the ideal location if you want to enjoy peace and tranquility as well as other facets of city life. Our projects are developed and created to be 100% luxurious and private, offering you a variety of amenities and making sure there are no shared walls. Our projects are spread throughout Kochi's various neighbourhoods, fostering a rich sense of contented living. All the conveniences of daily living are available to you at a reasonable cost. The railway, metro, bus terminals, and other city centres are more easily accessible from our projects that are located in Kochi. Within fairly short distances, you can locate both schools and hospitals. Our projects are the finest places for a family to live because they are close to all of these amenities. Excellent facilities and property management, more living space, and high-end specifications makes our project highly demandable. Varma Homes has a wide selection of apartments in and near Kochi if you're looking for residential flats for sale in that city with a variety of features. We design our residential projects with a blend of all modern and traditional amenities in response to the trending demand and investors' desire to profit from quality-styled apartments. Well, Kochi, Kerala's commercial centre, has seen a significant real estate development. The city's outskirts are quickly being impacted by the real estate industry, making them the next ideal location for investors. Since its inception, Varma Homes has firmly established itself as one of the most trusted builders in Kerala. Starting with residential projects in Kochi we have stepped into Trivandrum, Thrissur, Calicut and many more to follow. The mantra behind our success is that "we value customer happiness above all". At Varma Homes, we embrace our unique position as industry pioneers to change the Kerala real estate practice in terms of project completion. We take pride in our track record of completing all our projects ahead of schedule. Varma Homes is now synonymous with trust, quality and good value for money. Varma Homes, one of the reputed builders in Kochi gives utmost priority to unique your lifestyle with maximum carpet area. The projects come with open space, smartly planned out so that you get to live in a highly beautiful, amazingly spacious, relaxing, and private home. What are you waiting for? Come and own the lifestyle you have always dreamed of. Why say no to luxury if you can own it at an affordable price?Read More