RERA Explained for Plot Buyers
The Real Estate (Regulation and Development) Act, 2016 — in plain English
RERA is the most important law protecting property buyers in India. Here is what it means specifically for plot buyers in Karnataka.
Which Projects Must Register?
Under the Real Estate (Regulation and Development) Act, 2016, real estate projects — including plotted developments — must be registered with the state RERA before they are advertised, marketed, booked or sold, unless exempt. Projects where the land does not exceed 500 sq.m. or the number of plots/units does not exceed eight (inclusive of all phases) are generally exempt. In Karnataka, the authority is K-RERA (rera.karnataka.gov.in).
Key Promoter Obligations
Disclosure
Title, approvals, layout, plot details, timelines and promoter details.
Designated Account
70% of amounts collected deposited in a separate account for the project's land and development costs.
10% Advance Cap
No more than 10% as advance before a registered agreement for sale.
No Unilateral Changes
Layout changes need allottee consent as per the Act.
Progress Updates
Periodic updates on the RERA portal.
Defect Liability
Responsibility for structural/workmanship defects for five years from possession, as per the Act.
Your Rights as a Buyer
- Information on the project, layout and approvals
- Possession as per the agreed timeline
- If possession is delayed, the right to withdraw with refund and interest, or to continue and receive interest for the delay, as provided in the Act
- Approach the RERA authority or adjudicating officer for complaints
RERA and Prestige Olive Oak
Prestige Olive Oak's K-RERA registration is awaited. Once registered, use the project page to verify the details — see how to verify RERA and RERA status.
Prestige Olive Oak at a Glance
| Developer | Prestige Group (Prestige Estates Projects Ltd.), est. 1986, Bengaluru |
| Location | Chikkajala, off Bellary Road (NH-44), North Bangalore 562157 — see location |
| Land Area | 30+ acres with about 4.5 acres of open space |
| Total Plots | About 600 freehold villa plots |
| Plot Sizes | 1,200, 1,500, 2,000 & 2,400 sq.ft. + odd/corner plots — see plot plans |
| Price | From ₹1.20 Cr* (EOI ₹10,000/sq.ft.) — see price list |
| Status | Pre-launch, EOI open; launch expected 10 December 2026 |
| RERA | Awaited — verify on rera.karnataka.gov.in before booking |
| Possession | Target December 2029 (as per RERA filing) |
Frequently Asked Questions
Yes. Plotted developments above the exemption threshold must be registered.
Projects where land exceeds 500 sq.m. or plots/units exceed eight (all phases) generally must register.
Not more than 10% of the cost as advance before a registered agreement for sale.
Allottees can generally withdraw with refund and interest, or continue and receive interest for the delay.
Get in Touch
Contact us for the Prestige Olive Oak plot plan, EOI cost sheet, site visits, plot availability and pre-launch offers.