Omaxe Limited 's wholly-owned subsidiary, Omaxe Garv Buildtech Private Limited, has achieved a significant milestone by obtaining the Real Estate Regulatory Authority (RERA) registration for its upcoming residential project 'The Nest' in Lucknow, Uttar Pradesh. This development marks a crucial step forward for the company in the real estate sector.

Project Details

Significance of RERA Registration

The RERA registration is a crucial regulatory requirement that certifies compliance with real estate regulations. This approval brings several advantages for Omaxe Garv Buildtech Private Limited:

1. Legal Authorization: The subsidiary can now legally sell, transfer, and advertise the project.
2. Enhanced Credibility: RERA registration boosts the project's credibility among potential buyers.
3. Transparency Assurance: It ensures transparency in the project's operations and financials.
4. Consumer Protection: Buyers are afforded legal protection under RERA guidelines.

Impact on Omaxe Limited

The RERA registration for 'The Nest' is expected to have positive implications for Omaxe Limited:

1. Brand Value Enhancement: The registration strengthens the overall brand value of Omaxe in the real estate market.
2. Financial Performance: It is anticipated to positively impact the consolidated financial performance of Omaxe Limited.
3. Market Position: This development could potentially improve Omaxe's position in the competitive real estate sector.

The successful RERA registration of 'The Nest' project demonstrates Omaxe's commitment to regulatory compliance and customer trust. As the project moves forward, it will be interesting to observe its impact on Omaxe Limited's market performance and the broader real estate landscape in Lucknow.

Omaxe Limited , a prominent real estate developer, has achieved a significant milestone in its New Chandigarh project. The company's wholly-owned subsidiary, Omaxe New Chandigarh Developers Private Limited, has successfully obtained the Real Estate Regulatory Authority (RERA) registration for its 'Gardenia Floors Phase 2' project.

Project Details

The RERA registration certificate, bearing the number PBRERA-SAS80-PR1260, was issued by the Punjab Real Estate Regulatory Authority. This registration is a crucial step for the company, as it allows them to proceed with the residential development project in New Chandigarh, Punjab.

Key Information

Here are the essential details of the project:

Significance of RERA Registration

The RERA registration is more than just a regulatory requirement. It signifies several important aspects for both the company and potential homebuyers:

1. Compliance Assurance: The registration certifies that the project complies with RERA regulations, ensuring adherence to quality and delivery standards.

2. Enhanced Credibility: It boosts the project's credibility in the real estate market.

3. Timely Delivery: RERA registration is aimed at ensuring timely project completion and delivery to homebuyers.

4. Transparency: It fosters trust with buyers by guaranteeing transparency in the project's details and legal protection.

5. Marketing Authorization: The approval enables Omaxe to sell, transfer, or advertise the Gardenia Floors Phase 2 project.

Impact on Omaxe Limited

For Omaxe Limited, this development is expected to have a positive impact. The company anticipates that the RERA registration will strengthen its brand value and potentially contribute positively to its consolidated financial performance.

The real estate sector in India continues to evolve with regulatory measures like RERA, aimed at protecting homebuyers' interests and promoting transparency in the industry. Omaxe's compliance with these regulations for its New Chandigarh project demonstrates its commitment to these principles and its confidence in the project's viability.

Investors and potential homebuyers can access more details about the Gardenia Floors Phase 2 project on the Punjab RERA website ( www.rera.punjab.gov.in ) and Omaxe's official website ( www.omaxe.com ).