Vega VNR Land Mark in Bangalore: Unpacking the investment potential and RERA concerns
Fellow investors, let's discuss Vega VNR Land Mark in Bangalore. Located in South Bengaluru's Rajarajeshwari Nagar, it offers 2 and 3 BHK units at an average price of ₹7200/sqft, ranging from ₹91.15 L to ₹1.26 Cr. While the project is listed as 'COMPLETED', the developer's note stating possession by April 2025 indicates it's not yet ready-to-move, implying ongoing finalization or handover. This brings us to a significant concern for any investor: the RERA status is listed as N/A. For a project that isn't fully handed over, a missing RERA registration introduces substantial risk. It can complicate financing, impact project timelines, and severely affect your ability to resell the property later. Rajarajeshwari Nagar is a well-established residential hub, which typically ensures steady rental demand and moderate capital appreciation for compliant projects. However, the RERA ambiguity casts a long shadow over the investment potential here. While ₹7200/sqft might seem reasonable for the area, the elevated risk without RERA compliance means true capital appreciation is speculative, and ROI becomes uncertain. My verdict for potential buyers: Proceed with extreme caution. Given the RERA N/A status for a project with future possession, this might not be the opportune moment to invest in Vega VNR Land Mark. Prioritize projects with clear RERA compliance for peace of mind and secure financial returns.
Comments
It's really confusing. Rajarajeshwari Nagar is a good location, decent appreciation potential normally. But this RERA thing just messes it all up. Is there any way to check if the builder, Vega Marcon Private Limited, has any other projects with RERA compliance? Maybe this is just an old project they're trying to clear?
0 projects? Wow. That's not just a red flag, that's a whole red banner. New builders without RERA usually means more risk. For a first home, I'd stick to established builders with clear RERA numbers, even if it means paying a bit more.
U7, I checked Propmyna's builder database. Vega Marcon Private Limited has '0' total projects listed, which is also concerning. A new builder with RERA N/A on their first project? Double red flag.
I was looking at a similar project in Adigara Kallahalli last year, also 'completed' but possession was 6 months out and RERA was missing. The price seemed good. Luckily, I backed out after reading horror stories. Bangalore market is tough enough without adding RERA risks.
Okay, so if RERA is N/A, how does one even get a home loan? Banks usually demand RERA registration for project approval. Has anyone here managed to get a loan for a non-RERA project recently in Bangalore?
Exactly what U6 said. My bank manager flat out refused when I asked about a non-RERA property. He said it's too risky for them, and for me. So financing will be a major hurdle.
U3, most nationalized banks won't touch it with a 10-foot pole. Some smaller co-operative banks or NBFCs *might* consider it, but at a much higher interest rate and stricter terms. Not worth it for a first-time buyer.
The initial post is spot on. RERA N/A for a project with future possession? That's a deal-breaker for me. Even ₹7200/sqft isn't worth the headache if there's no legal backing.
Yaar, ye RERA N/A sunke hi darr lag raha hai. My EMI will start soon after possession, what if they delay it further? My whole life savings are going into this. Is it really that risky for a project listed as 'COMPLETED'?
Bhai, 'COMPLETED' with 2025 possession is a huge red flag. Builders often do this to avoid RERA registration for ongoing projects. Happened to a friend near Akshayanagar, they're still fighting for possession.