\n| \n Phase<\/strong><\/p>\n<\/td>\n| \n RERA Number<\/strong><\/p>\n<\/td>\n| \n Description<\/strong><\/p>\n<\/td>\n| \n Possession Commitment<\/strong><\/p>\n<\/td>\n<\/tr>\n\n| \n Phase 1<\/p>\n<\/td>\n | \n PRM\/KA\/RERA\/1251\/446\/PR\/270824\/006981<\/p>\n<\/td>\n | \n Prestige Raintree Park<\/p>\n<\/td>\n | \n December 31, 2028<\/p>\n<\/td>\n<\/tr>\n | \n| \n Phase 2<\/p>\n<\/td>\n | \n PRM\/KA\/RERA\/1251\/446\/PR\/010126\/008374<\/p>\n<\/td>\n | \n Evergreen @ Prestige Raintree Park<\/p>\n<\/td>\n | \n As per RERA filing<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Phase 1: The Primary Development<\/h2>\nPhase 1, registered in August 2024 covers 18 towers and 1,520 residential units (3, 4, and 5 BHK apartments from 2,005 to 3,698 sq ft) across 21 acres with a committed possession date of December 31, 2028. This is a approximately 4.3-year delivery timeline from the launch date of September 2024- consistent with the construction timeline required for a large-scale luxury high-rise township of this nature.<\/p>\n Phase 2: Evergreen at Prestige Raintree Park<\/h2>\nThe January 2026 update confirms that Prestige Group launched Evergreen at Prestige Raintree Park Phase 2 in January 2026, closing its Expression of Interest (EOI) phase on January 13, 2026, with unit allotments beginning January 14. Phase 2 includes 2,000 high-rise apartments across 14 towers, significantly expanding the total project scope under the Prestige Raintree Park Rera framework.<\/p>\n The RERA registration for Phase 2 (PRM\/KA\/RERA\/1251\/446\/PR\/010126\/008374) was filed in January 2026, establishing its own legal framework, possession commitments, and buyer protections independent of Phase 1. Buyers purchasing in Phase 2 (Evergreen) should verify the possession date on the Karnataka RERA portal using the Phase 2 registration number specifically.<\/p>\n Total Project Scale with Phase 2<\/h2>\nWith Phase 1 (1,520 units, 18 towers, 21 acres) and Phase 2 (2,000 units, 14 towers), the total Prestige Raintree Par<\/a><\/strong>k development encompasses 3,520 units across 32 towers on approximately 52.57 acres. This makes it one of the largest single residential developments currently under construction in East Bangalore.<\/p>\nWhat RERA Registration Delivers for Buyers<\/h2>\nDecember 2028<\/strong> Possession Commitment<\/h3>\nThe December 31, 2028 possession date for Phase 1 is a legally binding commitment under Karnataka RERA. Any delay beyond this date entitles buyers to compensation at SBI MCLR + 2 percent on amounts paid, or a full refund with interest.<\/p>\n Mandatory Escrow<\/strong> Account<\/h3>\n70 percent of all Phase 1 buyer collections must be held in a dedicated phase-specific escrow account withdrawable only for Phase 1 construction. This ensures Prestige Group cannot divert Phase 1 funds to Phase 2 construction or other projects.<\/p>\n Specification<\/strong> Protection<\/h3>\nAny material change to approved specifications requires buyer consent if it exceeds 2 percent of the approved plan. This protects buyers from post-booking substitution of materials, layout changes, or amenity modifications.<\/p>\n 5-Year Structural<\/strong> Defect Liability<\/strong><\/h3>\nPost-possession, Prestige Group carries a 5-year structural defect liability on all Phase 1 units requiring them to rectify any structural issues at no cost to the buyer.<\/p>\n How to Verify on Karnataka RERA Portal<\/h2>\n\n- Visit rera.karnataka.gov.in and navigate to ‘Registered Projects’.<\/li>\n
- Search using RERA number PRM\/KA\/RERA\/1251\/446\/PR\/270824\/006981 for Phase 1.<\/li>\n
- Verify:<\/strong> developer name (Prestige Estates Projects Ltd), project address (Varthur Main Road, Whitefield), number of units (1,520), possession date (December 31, 2028), and approved plans.<\/li>\n
- For Phase 2, repeat with registration number PRM\/KA\/RERA\/1251\/446\/PR\/010126\/008374.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"
Prestige Raintree Park has two RERA registrations – one for the original project and one for the newly launched Evergreen at Prestige Raintree Park Phase 2, making the Prestige Raintree Park Rera understanding essential for any buyer. Understanding what each registration covers, what the possession commitments are, and how to verify these independently on the […]<\/p>\n","protected":false},"author":152,"featured_media":1085742,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29384],"acf":[],"_links":{"self":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts\/1085741"}],"collection":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/users\/152"}],"replies":[{"embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/comments?post=1085741"}],"version-history":[{"count":1,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts\/1085741\/revisions"}],"predecessor-version":[{"id":1085743,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/posts\/1085741\/revisions\/1085743"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/media\/1085742"}],"wp:attachment":[{"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/media?parent=1085741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.squareyards.com\/blog\/wp-json\/wp\/v2\/categories?post=1085741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} | | | | |