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We are ready for RERA | ABAD Builders

Trying to make sense of the Real Estate Regulation and Development Bill

The Real Estate (Regulation and Development) Bill passed by both the Rajya Sabha and the Lok Sabha in March 2016 and subsequently given assent by the President will alter the landscape of the Real Estate sector. The Bill is part of a series of reforms introduced over the last couple of years by the central government in hopes of propelling further growth in the realty sector. While it will take a full year or more for the Bill to be implemented on the ground in each state, it is important to understand the implications of this groundbreaking and landmark bill, especially for our valued-customers.

What is the Real Estate (Regulation and Development) Bill?

The Bill requires every state to establish a Real Estate Regulatory Agency (RERA) and Appellate Tribunal, government regulatory bodies that will govern both residential and commercial real estate transactions, as well as handle the redressal of customer grievances against builders. Under this new law, all projects over 500 square meters (or more than eight apartment units) will need to be registered under RERA. Moreover, builders will need to submit all project information (from plans, schedules, land title status, government approvals etc) to the regulatory board which will in turn make available this information to customers when requested. And most importantly, the law mandates that 70% of a project’s funds be secured in an escrow account, not to be re-directed for the development of other projects.

Why is this Bill being implemented?

The purpose of the bill is to bring greater transparency and accountability to a sector. In so doing, the hope of the central government is that the implementation of such regulations on the ground will standardise India’s real estate sector in line with global standards, helping to bolster the influx of global capital into the sector. And for Kochi, a city so interconnected with the rest of the world, such developments will hopefully aid in furthering foreign investment into the city’s realty sector.

What does it mean for ABAD?

While such developments will invariably alter the landscape of Kerala’s Real Estate industry overall, for us, it’s business as usual. For the past twenty years, we, ABAD Builders have remained a constant amid a rapidly changing landscape of Kerala’s Realty market. Many developers have come and gone. Yet, we have always been here, building ever larger and ever higher. And the secret to our longevity and success lies in our steadfast and stubborn commitment to standards of transparency and accountably only now being set out by the Real Estate Regulation and Development Bill. In other words, we are RERA-ready.

What does this mean for you?

For Real Estate customers, the Bill is certainly a triumph. The establishment of RERA will mean a better safeguard from predatory transactions. The implementation of this bill will also mean increased assertion on the timely completion and delivery of projects. Nevertheless, as always it is important that you as customers do the necessary ground work and look at the delivery track record of builders before purchasing a flat. After all, there are builders who build. But there are only a few who build looking to the future; building real estate in ways that ensure capital appreciation and future investment returns.

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Orchard County Handover on 29 July 2016

On the 29th of July, we gathered for the handover of Orchard County, our villa project in Tripunithura that we had worked so hard to develop over the past two years. For many of us, particularly in our Project Division, the handover event was marked by a mixture of pride and joy in being able to show and hand-over the final product to our valued customers.

Abad Builders Team

Abad Builders Team

Villa Inauguration

Villa Inauguration

In the party hall of Orchard County, we welcomed our customers, some of whom had traveled from as far as Muscat to attend this event. A reception was held to mark the joyous occasion as we celebrated yet another project completion. Together we talked, laughed, ate and enjoyed the evening touring the exclusive twelve villa neighborhood. Customers seemed particularly fascinated by the finish of each villa, to finally see in actuality everything that they had thus so far only been able to imagine based on brochures; we hope that it was indeed a delightful experience for them.

Key handover

Key handover

The event was also an opportunity for our customers to get to know one another as new neighbours. “I’m really happy and satisfied with how the project has turned out,” Mr. B. Radhakrishnan Nair, Orchard County customer said as he (together with his family) receive their key from Dr. Najeeb Zackeria, Managing Director of ABAD Builders. “The community here is great. It’s an exclusive neighborhood, so that’s quite nice” he added. Suresh K G, landowner and Orchard County customer, similarly is impressed with the quality of the completed project. “We’re very happy with Abad,” he said. “The quality of their customer service is always great. It shows here and this exclusive community will be a wonderful neighborhood.”

Mr.Radhakrishnan and Family Owner of Villa No: 4

Mr.Radhakrishnan and Family Owner of Villa No: 4

Orchard County marks the completion of our 35th project. As all previous projects have done, we continue to deliver top quality homes to our valued customers. Their loyalty, trust and faith in Abad are the hallmark and pillars of this company.

If you’d like to see more images of our project, we’ve displayed a few views below. For inquiry on the same, you can contact our representative by dialing +91 98956 33333.

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Orchard County Villas No: 4

Orchard County Villas No: 4

Orchard County - Villa's View

Orchard County – Villa’s View

Orchard County Luxury Villas

Orchard County Luxury Villas

Landscape in Orchard County

Landscape in Orchard County

Staircase- Inside the Villa

Staircase – Inside the Villa

Orchard County - Washroom

Orchard County – Washroom

Inside the villa

Inside the villa

Inside the Gym

Inside the Gym

Swimming Pool

Swimming Pool

Orchard County

Orchard County Villas

Orchard County Evening ViewOrchard County Evening View

CategoriesBlog

ABAD Royal Gardens Premium Apartments in Kottayam

Abad Royal Gardens, a fine luxury apartment project located at a vantage point at the entrance of Kottayam Town, near Caritas, is truly one of its kind in Kottayam. Comprising of 96 well crafted two and three bedroom flats spread in twelve floors, Abad Royal Gardens offers splendid views of lush green paddy fields and soothing country landscape from its terrace.

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Superstructure of RCC framework and solid block masonry has been designed keeping in mind the seismic zone requirements. The flats in Abad Royal Gardens is provided with the top quality fittings and fixtures from top international brands. Villeroy and Boch wash basins and wall hung EWC with concealed Geberit cistern is provided in the toilets, wash basins from Duravit for the dining area in the flats. Toilets and kitchen in apartment are provided with CP fittings from Grohe. SS sink in the Kitchen comes from Franke. Geyser and exhaust fan points are provided in all bathrooms. Concealed electrical FR wiring using pvc conduits and DC, MCB and ELCB of Legrand . Air conditioner points in all bedrooms. Two coats putty with superior quality emulsion for internal walls.

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Royal Gardens is undoubtedly one of the best residential apartment project in Kottayam. The proud flat owners get all the amenities that make for luxury living, king size.

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The relationship of Abad Builders with their customer, does not stop with mere sales. The customer gets complete home care support throughout, which includes, housekeeping and maintenance services, rental and resale assistance, collection of rent, payment of statutory bills etc. This service ensures that the customer’s investment is well taken care of and he gets a good return on his investment.

Get in touch

ABAD BUILDERS PVT. LTD. Kochi Office
8th Floor, Nucleus Mall & Office,
N.H.85 (Kundannoor – Petta Road),
Maradu. P.O, Kochi – 682 304.
Ph: +91 0484-4105000,
GSM: +91 9072349966

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about us

ABAD Builders, set up in 1995, is Kerala’s first CRISIL-rated builder and has also acquired ISO 9001. The ABAD group, with a legacy that goes back to 1931, also has interests in seafood processing, hospitality services, facility & project management services and retail.

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