Prestige Parklane RERA Approval

Prestige Parklane is a mixed-use estate by the Prestige Group inside the KIADB Hi-Tech, Defence and Aerospace Park Phase 2, Devanahalli. The RERA registration covers Phase 1, the residential part of the master plan.

• Land area: Phase 1 covers 11.90 acres of the 32.26-acre master plan.
• Total homes: 1,788 apartments in nine towers, each with three basements, a ground floor and 24 upper floors.
• Configurations: 1, 2 and 3 BHK homes across 37 unit types.
• Timeline: construction starts on 1 October 2026, with completion declared for 31 December 2030.
• Price: a 1 BHK costs roughly ₹65.8 lakh all-inclusive, and a 2 BHK Ultima around ₹1.20 crore.

RERA is the Real Estate (Regulation and Development) Act, 2016. It was created to protect homebuyers from unfair practices by developers. Before RERA, builders could delay projects without real penalties, and buyers often paid for super built-up areas. Today every new project must be registered before it is advertised or sold. In Karnataka, the Act is enforced by the Karnataka Real Estate Regulatory Authority, known as K-RERA.

K-RERA checks a project's land title, building plans and finances before it grants registration. Prestige Parklane received its registration shortly after KIADB approved its building plan on 13 August 2026.

RERA registration turns the developer's promises into legal obligations. Here is what it protects at Prestige Parklane.

• Your money stays in the project: 70 per cent of all buyer payments go into a dedicated escrow account. This money can only be spent on building Prestige Parklane, not on land for other projects.
• Withdrawals need certificates: a chartered accountant, the architect and the engineer must certify progress before money is withdrawn. Funds are released only in proportion to work completed.
• A completion date you can enforce: if possession runs beyond 31 December 2030, the developer must pay buyers interest for every month of delay.
• The plan cannot quietly change: adding a floor or changing the sanctioned plan needs the consent of two thirds of buyers. Your open spaces and amenities are legally protected.
• Carpet area, not loading: homes are sold on carpet area, the usable space inside the walls. Balconies and utility areas are listed separately.
• Five years of defect cover: the developer must fix structural defects free of charge for five years after handover.

Prestige Parklane follows a transparent time-linked payment plan. Payments fall on fixed dates rather than construction stages, so you know every due date in advance. RERA also bars the developer from taking more than 10 per cent before a registered agreement for sale.

Paying 3.2 per cent every two months spreads the cost evenly and avoids large sudden demands. The agreement for sale must list this schedule, the exact materials and fittings, and all charges upfront. There are no hidden costs outside the agreement.

The RERA filing also records parking. The developer has registered 1,780 covered basement bays and 130 open parking bays. This legally backs the promise of one car park per apartment.

You do not have to take anyone's word for the registration. The Karnataka RERA portal is free and public, and it is your best source of truth.

• Step 1: go to rera.karnataka.gov.in and open the registered projects search.
• Step 2: search for Prestige Parklane, or enter PRM/KA/RERA/1251/309/PR/150926/008941.
• Step 3: open the project page to see the land titles, director names, approvals and completion date.
• Step 4: check the encumbrance certificates, which show there are no hidden loans on the land.

The developer must also upload quarterly progress updates with site photographs. You can follow construction on the portal until handover.

Before you pay, confirm these five points.

• RERA number: PRM/KA/RERA/1251/309/PR/150926/008941, with PR in the sixth segment for a project registration.
• Promoter: Apex Realty Management Private Limited, a fully owned subsidiary of the Prestige Group.
• Building plan: approved by KIADB on 13 August 2026, reference DO3-KIADB-00128/26-27/BP.
• Completion date: 31 December 2030.
• Land title: clear, with no Joint Development Agreement and a Gram Panchayat E-Khata certificate.

The certificate applies to Phase 1, the residential part of the estate. It covers all nine towers, the 1,788 apartments, the 50,000 sq ft clubhouse and the sports facilities. Buyers in Phase 1 are protected for all residential amenities.

The remaining 20.36 acres are set aside for an upcoming enterprise estate. That commercial zone will have its own separate RERA registration.

The RERA documents list the carpet area for all 37 unit types. The 1 BHK Classic has a registered carpet area of 322 sq ft. The 3 BHK Ultima goes up to 1,078 sq ft. This makes it easy to compare prices fairly across projects.

The Prestige Group holds a CRISIL DA1+ developer grading, the highest safety rating in the sector. Its listed parent publishes audited results every quarter. That level of disclosure goes well beyond what most private builders offer.

The Parklane filing is equally thorough. The promoter, Apex Realty Management Private Limited, owns the land on its own title. They have submitted financial statements and income tax returns for FY 2023-24 and FY 2024-25. It has also filed a sworn affidavit declaring no litigation on the land, property or khata.

Chartered accountant, architect and engineer certificates are all on record. Together, these documents give buyers a clear view of the project before they commit.